If you’ve been driving around in Metro Detroit, chances are you’ve seen some signs advertising companies that buy houses.
Often times they say things like “We Buy Metro Detroit Houses!” or “Cash For Your Houses”.
Are These “We Buy Houses in Metro Detroit Companies” Credible?
How do I know if the local house buying companies out there are honest and credible?
Well… sometimes they all look similar at the start… but below we’ll walk you through some things to look for in a local house buying company before you should work with them.
Buying and selling houses is a valid and respectable profession that can help our communities and house sellers in many different ways. But just like any other line of work – some of house buyers in any market are the ones who make the rest of us look bad.
There are people who are really great, ethical folks who really care about helping people and improving their neighborhoods one house at a time.
And then there’s shady, dishonest people who put money ahead of the well being of their clients and who would sign the purchase contract to sell their own grandmother with one hand while stabbing you in the back with the other – as long as they were making enough money.
Yes, unfortunately they are out there.
We’ll help you avoid these “shady we buy houses companies” so you can work with honest, ethical, and reputable local companies who can buy your house for a fair all cash offer and close on your timeline.
But let’s not focus on the negative here. First, let’s cover exactly what the best house buying companies are doing in Metro Detroit.
What Reputable Metro Detroit House Buyers Are Doing
- Helping sellers improve their lives by accessing the money they need right away. People often need the cash in their house to cover unexpected medical expenses, tax liens or to relocate to be close to a relative. We can make that happen in as little as 7 days, and we deliver peace of mind.
- Helping sellers get rid of a burdensome property without the hassle of having to list it with a real estate broker and wait months and month for a sale.
- Creating local jobs. We hire plumbers, electricians, mechanics, brokers, title reps, administrators and many other folks along the way. The average real estate transaction involves 73 people from start to finish. Our investments help create real local jobs for people around Metro Detroit MI.
- Buying US products and services. We spend tons of money on materials that are made right here in the USA – that creates jobs in our timber mills, factories, supply shops, distribution centers and more. The US economy depends on steady improvement from all sectors, and that requires investment from companies like us.
- Increasing the value of Metro Detroit neighborhoods. When we make improvements to a house, we’re helping to increase the value of the entire neighborhood. We often repair vacant and neglected houses, transforming them into beautiful homes for families. That activity strengthens Metro Detroit.
- Increasing the tax value to benefit our cities. When a new buyer takes over one of our homes, they’ll pay a higher tax rate based on the new and improved value. Those taxes go to pay for our schools, fire, police, libraries, streets and other valuable pieces of infrastructure. Again, improving our neighborhoods.
Pretty cool stuff, right?
Lots of people think of house-flipping as a get-rich-quick scheme. That’s fueled by silly “reality” shows that amp up the drama because the reality of what we do on a daily basis is actually pretty boring…unless you love dealing with every detail of the project.
Most of our work is coordinating with lots of people to make sure things are happening on time and budget. We have to keep track of lots of moving parts and dealing with lots of people can be very challenging. We have to be able to form a big picture design idea, to then scale down to small details so nothing gets overlooked and the new buyer moves into safe and beautiful place they will call home.
So let’s get back to how you can use this information to find out if someone is a credible investor, and not just pulling a house buying scam.
How To Ensure You’re Working With A Reputable Local House Buyer
When you talk with a local house buyer to potentially buy your house… ask them some of the questions below to ensure they’re reputable, knowledgeable, and honest.
Ask open-ended questions like:
- Will you actually buy and close on my house or your “partners”? (if partners – usually indicated they don’t have a cash to buy your house but want to be a middle man to a real cash buyer)
- Will you be able to close within 2 weeks or less if the title is clear?
- Is there any inspection contingencies or “subject to partner approval”?
- What aspect of your business makes you the proudest?
- Do you have liquid funds to close or do you need hard money loan?
- How would you describe your investment philosophy?
- How can I know that you’ll close on my house when you say you will?
- What properties have you renovated that I can see online?
Second, look for tell tale signs of tactics that those few shady operators tend to use.
- “Kitchen table closings” – If a property buyer tries to get you to sign the deed (ownership) of your house over to them at your house, rather than a professional place like at the title company or closing attorney…be leery. Most reputable house buying companies will perform the actual closing of the sale at a neutral 3rd party place… like a title company. This ensures everything is done right and on the up and up.
- Pressuring you into a fast closing – If a house buyer tries to pressure you into selling your house and says that you have to make the decision today, be leery. Most reputable house buying services will make you and offer and that offer will be on the table for at least 3-7 days (minimum) for you to make a decision. The reason reputable house buying services like ours at Fast Home Offer Guys do place deadlines on our offers is because the market changes and values can change week to week depending on other sales in the area, also… we buy multiple houses every month and when we make you an offer we’re assuring you that the cash to purchase your house is ready and we’ll reserve that cash for a couple of weeks so if you do want to sell your house, we can close on your schedule. If you feel the offer isn’t a fit for you, then we’ll assign those funds to help another seller in Metro Detroit with their home sale.
Most scammers are looking for a quick score, and not an in-depth interview.
Chances are good that they’ll find excuses to get off the phone and move on to someone who doesn’t ask too many questions.
True investors who run honest and ethical Metro Detroit house buying services, however, are building long-term businesses based on relationships and community development.
So when you’re looking at one of the “we buy houses in Metro Detroit companies“… never be afraid to ask questions!