If you’ve been driving around in Salt Lake City, chances are you’ve seen some signs or billboards advertising house buyers. Or, you may have received something in the mail from a house buyers company.
Often times they say things like “We Buy Houses!” or “Cash For Your House” or “We Buy Houses”
Are these house buyers credible?
How do I know if the local house buyers 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 local house buyers companies before you should work with them.
Buying and selling houses is a valid and respectable profession that can help communities and house sellers in many ways. But just like any other line of work – a minority 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 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.
It is so important when YOU are considering who to work with, that you KNOW who the bad people are. I know all or most of the legitimate & honest house buying companies in Northern Utah. I PROMISE I will tell you the truth if you ask me if a competitor is a good person to work with. It is that important.
1st RULE…NEVER give anyone money Up Front unless it is a local attorney you can meet face to face.
I PROMISE you there are people trying to steel your money! AT LEAST get 2 LOCAL opinions.
We’ll help you avoid these “shady house buyers” 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 schedule.
But let’s not focus on the negative – at least not yet.
2nd RULE…Call the people that any professional should be working with. Ask them questions about who you may work with.
First, let’s cover exactly what the best house-flippers are doing.
What Reputable Salt Lake City House Buyers Are Doing
- Helping folks improve their lives by accessing the money they need right away. People often need the cash in their house to cover unexpected medical expenses, or to relocate to be close to a relative. Sometimes people have inherited a property they don’t want. Maybe Foreclosure or Divorce are the reason some people want to sell fast for cash. 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 ANY 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 Salt Lake City, Utah.
- 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.
- Increasing the value of 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 the area.
- 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?
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.
Most of our work is coordinating with lots of people to make sure things are happening on time. We have to keep track of lots of moving parts.
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 Reputable Local House Buyers
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. Reputable house buyers will always talk with you as long as necessary.
Ask open-ended questions like:
- How do you help your clients?
- What do you do for people?
- Can you tell me more about your services?
- What aspect of your business makes you the most proud?
- How would you describe your investment philosophy?
- How can I know that you’ll close on my house when you say you will?
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 title company… be leery. Most reputable house buying services will perform the actual closing of the sale at a Title Company in Utah. This ensures everything is done right and on the up and up. I use 2 different Title Companies in Utah….Meridian Title Co. and Capstone Title Co.
- 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 Gary Buys Houses 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 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 Utah companies“… never be afraid to ask questions!
We ❤️ your questions so please call or text Gary at 801-382-9199
or use the form 👇 for email.