What To Do If A Real Estate Investor Backs Out From Buying Your House
Selling your house to a San Antonio real estate investor is often the fastest and easiest way to get your house sold. Most of the time, real estate investors from we buy houses companies are local, near you, and buy your house with cash. This makes the process short, simple, and fairly certain. However, as with any profession, some people in the real estate investing business don’t always live up to those expectations. There are usually some signs that this might be happening to you. If you are experiencing problems with an investor in your home sale process, keep reading to get some tips on what steps to take next.
Signs An Investor Might Back Out Of Your Home Purchase
As mentioned above, a real estate investor may give some subtle and not so subtle indication that they are backing out from buying your home. Minor things such as unreturned phone calls and texts, or not showing up to an appointment might be excused if they only happen once or there is a good reason given. Ask yourself, does this person still seem interested in my home and engaged in the process they described? If not, and unprofessionalism is present, you may be looking at the beginning of an issue.
Other signs an investor is having cold feet are less subtle. They may ask to extend the closing date without providing a good reason. They may ask for a price reduction based on repair estimates that were never discussed. These are red flags that should cause you to be concerned about what is happening with the sale of your home. The worst of all is getting to the day of the closing and you haven’t had any communication with the home buyer and you find out from the title company that they aren’t ready for closing. If any of these things are happening to you or you suspect they may be happening to you, keep reading for what to do next.
Steps To Take If An Investor Fails To Close On Your Property
If an investor doesn’t follow through with the purchase of your San Antonio property, or you are concerned about the way they are handling the process of buying your house, there are certain steps you can take to make sure you aren’t left high and dry.
Go through these steps one by one and make sure you are following your instincts. These steps are meant to be a guide to determine if a real estate investor is an actual credible home buyer or if they are just trying to make a quick buck by taking you and your property for the proverbial ride.
1. Check The Reviews Of The Home Buying Company.
If the home buying company can’t be found online or doesn’t have great reviews, this may be an indicator that your suspicions or instinct is correct. However, if the home buyers have great reviews, and a legitimate online presence, maybe you are misreading the situation.
2. Call The Title Company Directly
This is a way to cut through the noise and make sure everything is on track with the sale of your home. The title company is a neutral party in the transaction and will give you honest information about where you are in the sale process. Don’t be worried about calling them, they are being paid to help you with your transaction.
3. Let The Homebuyer Know There Will Be No Extensions Or Price Reductions
A serious home buyer will not ask for extensions without very good reason. If they have a legitimate reason that is out of their hands, an extension could be acceptable. Otherwise, there should be no extensions if they are serious about buying.
There should never be a need for price reductions. A real estate investor who buys houses for a living will make you an offer that they are comfortable with. They do not need to lower the price at a later time.
4. Find A New Reputable Buyer
If the worst happens and your buyer is not closing on your property as promised, it may be time to move on and find a new buyer for your property. If you find yourself in this situation, make sure you do your due diligence and find a home buyer with a reputation for doing what they say.
Make sure and check out their reviews and their BBB profile. Our company is always ready to pick up the pieces from a broken sale and give you the home selling experience you deserve.
Sell For Cash While Getting The Experience You Deserve
If you are selling your house to a real estate investor and things aren’t going as planned, follow your instances, follow the steps listed above, and know that all hope isn’t lost.
Capstone Homebuyers is ready to step in and make you a fair offer for your San Antonio property. We have created a reputation of always following through and always doing what we say we will do when we say we will do it.
This means no failed escrows, no abandoned closings, and unreturned calls and texts. You should have a great experience when you sell your house fast the easy way. If you would like a second opinion about the sale of your home, just give us a call and we’ll be happy to help.