Receiving an unsolicited call to buy your house in could come as a surprise. Unsolicited calls are legal but as with most things it’s buyer beware. You may get a call from a realtor or house buyer investor even if your home isn’t even on the market.

While receiving an unsolicited offer on your house or property is more common than you may think, here is what you need to know to vet the caller & determine if it’s legit or just a scam. And, what to do if you decide to entertain their offer.

If you live in a popular neighborhood or an area ripe for redevelopment, chances are you’ll receive an unsolicited offer from someone to buy your home. You don’t have to respond to the offers if you don’t want to—it’s not even rude—but if you’ve been thinking about moving, there are a few different tracks you can take.

Are You Getting an Unsolicited Call to Sell Your House?

Who Is Cold Contacting Me About Buying Houses?

With a hot real estate market, the number of unsolicited offers on homes has seen an increase. There are two types of people who will call about buying your house: realtors or investors. A realtor will be working on behalf of a client, perhaps they drove by your home and fell in love and decided it couldn’t hurt to reach out to see if you would consider moving. In a high demand market the potential buyer could hope that their offer would entice you to move or that they could purchase a dream home before it even hits the market.

The other type of person who could contact you about buying your house is an investor. Investors could be contacting you if you have recently inherited a home and you are in the probate process or perhaps if you’ve defaulted on recent home payments to your bank and are not making your mortgage each month.

In these situations an investor could be interested in purchasing your inherited home to take the time and stress off of you by fixing, listing and showing an inherited home. If you’ve defaulted on payments investors can make an offer on your house before you get in trouble with the bank or have to go through a short sale and foreclosure.

What Questions to Ask to Determine if it’s Legit or a Scam

If the unsolicited call you received has got you thinking about selling your home, or it’s a potential solution to the problem of an inherited house or defaulting on payments, then you should consider vetting the caller to make sure they are who they say they are.

To do your due diligence you need to find out the answers to these questions — a realtor or investor should be able to easily answer all these questions, so if you’re getting vague answers or other red flags that’s a sign it could be a scammer.

Questions to ask:

• How will you be paying? If it’s cash does that mean I get a check right away?
• When will I get paid? Is funding already secured and how long will the transaction take?
• Do you have a realtors license or a business license?
• Will you come to my home and make an in-person visit in order to make an offer on my home?

Other steps to take:

• Google the person who has contacted you. Look for online reviews and an internet presence. Reading how others have felt working with this person can go a long way to building trust.
• One red flag to look for is if they ask YOU for money. You shouldn’t need to give them any money outside of what is worked out in an official purchase contract when they are ready to buy.
• If it is a realtor that contacts you then you can consider looking into getting your own realtor to help you navigate through the selling process.
• If it’s an investor who calls, they could be part of a house buying company. Research their company online and learn more before accepting any offers.

FAQ’s

Q: What about calls about property I don’t own?

As a Utah cash buyer and investor, I’ve encountered numerous scenarios where individuals receive calls or messages about properties they don’t own. This can be perplexing and sometimes alarming. From my experience, there are a few reasons why this might happen, and I’d like to share some insights to help you navigate these situations effectively.

Firstly, it’s not uncommon for there to be mix-ups or errors in the databases that marketers or investors use to reach out to potential property sellers. These databases might have outdated information, leading them to mistakenly contact the wrong individuals. In some cases, the confusion arises from similarities in names or addresses, causing an inadvertent mix-up.

Another possibility is that you’ve been included in a broad marketing campaign. Investors and companies often use a “shotgun” approach, reaching out to a wide array of contacts in the hope of finding interested sellers. While this method casts a wide net, it can also result in reaching out to people with no connection to the property in question.

The more concerning scenario involves fraudulent schemes. Scammers are becoming increasingly sophisticated, using various tactics to extract personal or financial information from unsuspecting individuals. They might pose as legitimate buyers or real estate professionals, creating elaborate stories to convince you to provide sensitive information or even money.

Here are some steps I recommend taking if you find yourself on the receiving end of such calls or messages:

• Verify the caller’s identity: Ask for detailed information about who they are, the company they represent, and how they obtained your contact information. A legitimate professional should have no problem providing this.
• Do your research: Before engaging further, take a moment to look up the company or individual online. Reviews, testimonials, or the lack thereof can be very telling.
• Never share personal information: Until you’ve confirmed the legitimacy of the request, avoid sharing any personal or financial details. Scammers are looking for just enough information to exploit.
• Report suspicious activity: If a call or message feels off, it probably is. Reporting the incident to the appropriate authorities or platforms can help protect not only you but others who might be targeted.

Q: How do I spot unsolicited real estate calls and texts?

To combat the inconvenience of unsolicited calls regarding your house, several effective strategies can be implemented. Registering your phone number with the National Do Not Call Registry is a proactive step you can take. This registry, overseen by the Federal Trade Commission (FTC), aims to shield consumers from unwanted telemarketing endeavors. Despite this measure, the effectiveness in blocking real estate-related solicitations may vary.

Go to DoNotCall.gov or call 1-888-382-1222 (TTY: 1-866-290-4236) from the phone you want to register. It’s free. If you register your number at DoNotCall.gov, you’ll get an email with a link you have to click on within 72 hours to complete your registration.

If you find yourself on the receiving end of such calls, directly requesting the caller to remove your details from their contact list is another viable option. Additionally, utilizing the call-blocking feature available on most phones can provide immediate relief from recurrent callers.

Regarding text message solicitations, while completely preventing these can be challenging, actions like blocking specific numbers or marking the messages as spam can reduce their frequency. It’s also wise to exercise caution with where and how you share your phone number, especially online or in other public forums. Such practices can inadvertently make your number more accessible to automated systems designed to disseminate bulk spam communications.

Q: Are Cash Offers For Houses Legit?

Genuine cash offers typically come from investors or buyers who are prepared to purchase your property outright, without the need for mortgage financing (exactly what we do here). This approach can significantly expedite the selling process, eliminating many of the hurdles associated with loan approvals and traditional closing timelines. If you’re currently wanting to sell your house, it means a quicker transition and potentially less stress regarding the sale’s certainty.

However, vigilance is key. While many cash buyers operate with integrity, offering fair value for properties in various conditions, others may attempt to exploit sellers. Some may present offers significantly below market value or use high-pressure tactics to secure a sale.

It’s essential to conduct thorough research on any potential buyer. Look for reviews, testimonials, or a track record of successful transactions. Engaging with reputable, experienced investors can safeguard your interests and ensure a legitimate and beneficial exchange.

Options From Here…

If you’ve done the work and feel confident that the buyer is a legitimate investor or realtor then you need to ask yourself: Do you want to sell your home? Maybe the timing is just right, or maybe this is a solution to a problem that you weren’t sure how to deal with. What started as some random person calling to buy your house could turn in to a fast and easy cash sale on an inherited home or home you can no longer afford.

It’s always important to be cautious and avoid scams, but you can feel confident that by asking the right questions and doing some research that the person you are working with is a trusted professional with experience in purchasing homes. While offers from investors will likely be less than an offer from a realtor, keep in mind that investors will also purchase your home as-is and with no fees or commissions. That savings could end up making all the monetary difference thus making your life of selling your house/property much easier.

Who Can You Trust?

Gary with Gary Buys Houses is one such trusted investor in the state of Utah. He reaches out to families who are dealing with probate or delinquent mortgage payments. He wants to help you have a stress free home selling experience and create a win-win for both parties. He can make fast cash offers and receives 5 star ratings from his clients who appreciate how smooth the home selling process went and how honest and transparent their experience was working with Gary.

If you’re considering accepting an investors offer after receiving an unsolicited phone call, contact Gary and you can feel confident that you are working with a professional and saving money and time by selling to a house buying company.