You might have seen billboards advertising companies that purchase houses while driving around in Portland. If you’ve ever considered selling your home in a real estate market that is known for its slow turnaround times, this could be the perfect solution for you. Companies that buy houses make it easy to sell your house quickly and without any of the usual hassles associated with traditional real estate sales.
Often times they say things like “We Buy Portland Houses!” or “Cash For Your House”.
Are These “We Buy Houses in Portland Companies” Credible?
How do I know if the local house buying companies out there are honest and credible?
Well… sometimes they all look the same 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.
Real estate is a legitimate and honorable profession that can benefit communities and homeowners who want to sell their houses. However, as with any industry, there are some unscrupulous individuals who give the majority a bad reputation. As a homeowner, it is important to be aware of the risks associated with working with real estate agents in order to protect yourself from being taken advantage of.
There are people who are really great, ethical folks who improve their neighborhoods one property 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 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, they are out there.
Our assistance will enable you to steer clear of unscrupulous home buyers. You will be able to collaborate with trustworthy, principled, and esteemed local firms who can purchase your property for a reasonable cash payment and finalize the transaction according to your preferred timeline. With our help, you will be able to remain in control of the entire process and receive fair market value for your property. In addition, we provide comprehensive guidance on various legal aspects associated with selling a property. We can walk you through all the paperwork involved in sealing the deal so that you do not face any problems down the road.
But let’s not focus on the negative – at least not yet.
First, let’s cover exactly what the best house-flippers are doing.
What Reputable Portland House Buyers Are Doing
- Helping folks improve their lives by accessing the money they needright away. People often need the cash in their house to cover unexpected medical expenses, or to relocate to be close to a relative. Having some cash in the house can be a useful safety net that can provide a sense of security during uncertain times. Furthermore, cash savings can help protect people from financial emergencies and provide them with options when it comes to important decisions about their finances. We can make that happen in just a few 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 broker and wait months and month for a sale.
- Creating local jobs. We hire plumbers, contractors, electricians, brokers, title reps, loan officers, administrators and many other folks along the way. The average real estate transaction involves 86 people from start to finish. Our investments help create real jobs for people around Portland OR.
- Buying US products. 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, and that requires investment from folks like us. With the materials we purchase, and the jobs they create, we’re helping to make that happen. We care about our impact on both communities and environments, which is why we are committed to sustainable practices in our production process.
- Increasing the value of Portland neighborhoods. When we improve a house, we’re helping to increase the value of the entire community. We often repair abandoned and neglected houses, turning them into beautiful homes for families. That activity strengthens Portland.
- Increasing the tax base. When a new buyer takes over one of our properties, 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?
Many individuals believe that house-flipping is an effortless way of becoming wealthy, possibly due to exaggerated television shows. However, the truth is that our everyday work is rather dull. We spend hours researching properties and analyzing the potential for making a profit. At times, we must negotiate with sellers, contractors, lenders and other parties involved in the buying and selling of homes.
Our main task involves collaborating with numerous individuals to ensure that tasks are completed within their respective deadlines. We must monitor various aspects simultaneously to ensure everything runs smoothly. We are also responsible for training and supervising new staff members. This involves introducing them to our procedures and processes, as well as providing feedback on their performance. Additionally, we work with other departments to ensure the smooth functioning of our business operations. We must be able to identify opportunities for improvement and develop solutions accordingly.
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
If you are considering selling your house to a local house buyer, make sure to ask the following questions to ensure they are trustworthy, knowledgeable, and truthful.
- How long have you been in the business of buying houses?
- Can you provide references from past clients?
- Do you own the company, or do you work with a team of local investors?
- What is your process for making an offer on my house?
- How quickly can you close the deal?
- Are there any additional fees or costs I should know about?
- Will you buy my house as-is, or will repairs be required before closing?
- Do you offer any guarantee or protection on the purchase of my home?
- What is your timeline for making an offer?
- Do you have experience in this area and market?
- Are you willing to negotiate on the price of my home?
- What other services do you provide when buying a house?
- How will the closing process work, and who will be responsible for what costs
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 a closing attorney or title company… be leery. Most reputable house buying services 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 2-7 days (minimum) for you to make a decision. The reason reputable house buying services like ours at PDX Home Buyers 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 a 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 several days 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 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 Portland house buying services, however, are building long-term businesses based on relationships and community development. They are passionate about the neighborhoods and cities they serve, and recognize that even a small house buying business can have a large and lasting impact on the community.
These investors often work with city officials, local nonprofits, and other organizations to sponsor events or initiatives that help revitalize neighborhoods.
So when you’re looking at one of the “we buy houses in Portland companies“… never be afraid to ask questions!