How To Not Get Scammed By Home Investors In Texas

There is a huge problem with scams in the home investor industry! In a 2022 newspaper article, undercover reporter Julie Terruso conducted a test where she called the numbers listed on 59 'we buy houses' signs. Of those called, she reached a real person just 16 times and only four would give their full name. Before calling one of these numbers or if someone randomly offers to buy your house, it's in your best interest to question their motives and to find out if they're a 'cash for houses' scam or legitimate investor.

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Wholesaling real estate scammers

Real estate wholesalers get homeowners to sign a contract and then resell the contract at a higher price to legitimate Texas house buyers and pocket the difference. As of 2021, the average resell fee collected by home wholesaling rip-offs was $19,600.

Texas property wire fraud

Fake Texas home investors agree to your sale price, $300,000 for example, and later mail you a hot check for $310,000. The so-called investor apologizes for the error and asks you to wire the difference back to them. If you do, you just got defrauded for $10,000.

Fake home pre-closing fees

Con men who act as investors in the Lone Star state will request that you pay a portion of the closing fees upfront and directly to them. Moral and trustworthy investors who buy homes pay all closing costs and will never ask you to pay any money out-of-pocket.

Texas home equity stripping

Scammers in real estate promise to help desperate homeowners by agreeing to buy their home and to sell it back to them later. These frauds convince the seller to transfer title, then refinances to strip all equity from the Texas home, leaving the seller with nothing.

Stop foreclosure rip-offs

A bad 'we buy houses' company offers to help a homeowner stop a foreclosure by making their mortgage payment. The fraudulent investor then collects a reduced monthly payment from the owner, but they never really make payments on the mortgage.

Types Of We Buy Houses Rip-Offs

Warning Signs of Texas Home Investor Scams

If you know where to look and what to look for, it's easy to spot evidence of fake house buyers in central Texas

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No customer reviews means trouble

Any established home investor company will have a history of customer experiences on platforms like Google, Yelp, and the Better Business Bureau. They may not all be 5 star or A+ reviews, but what's important is that they exist and offer insight into what it's like to work with them. If no client testimonials exist or if they don't appear genuine, it's likely that you're headed for trouble with a Texas real estate scam.

Property scam artists aren't online

A person who effectively runs home investing scams in Texas largely depends on their ability to remain anonymous. This means that property scammers typically won't have a website or social media accounts. Where they do have a website, it's poorly written, rarely updated, or has irrelevant content. For social media accounts, good indicators of property buying cheats is inconsistent or no branding at all, very few posts, and a small number of followers.

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Eager or unreachable house buyer fakers

Buying and selling property can be exciting, but fakers operating house for cash scams in central TX may come across as overly eager to buy your home, especially sight unseen. They'll be unavailable for an in-person tour or won't ask for details about your home, yet they will rush you to sign a contract. When you try to contact them, phony buyers avoid answering questions or are unreachable altogether.

Hidden fees signal real estate scams

In normal real estate deals, all fees are disclosed upfront, and money is exchanged at closing with the exchange handled by an independent third party like a title company. Requests to do anything different raises giant red flags. So called hidden fees in real estate like upfront commissions, service charges, or market risk fees are a home scammer's attempt to defraud you out of money without real intent of buying your home.

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No references or past investments

When you make reasonable requests, verified investing companies who buy TX real estate will provide all documentation necessary to ensure that you're comfortable with the sale. Fake investor property buyers can't provide proof of past projects because they've done none and instead of professional businesses, references are individuals who, for all you know, are just as likely to be part of a real estate scam.

Bogus homebuyers don't disclose

When it comes to selling a house, homeowners have options and hoodwinking homebuyers in Texas will talk poorly about or avoid discussing any option that doesn't involve you selling your home to them. Conning property buyers typically are also unable to produce a recent bank statement to disclose that they have the funds necessary to close.

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Ways To Defend Against Fake Home Investment Companies

Force a personal connection

One of the most effective ways to weed out cash 'we buy houses' scams is to meet the investor in person at your home for a walk through and to discuss the options they can provide. Online or phone only communication allows fake investors of homes to remain hidden, so when they defraud you, it's difficult to track them down.

Check investor references

There's a simple test to tell good investment references from bad: are they professional businesses like title and property management companies or individuals? References from individuals are difficult to verify and could signal predatory home investors. The best 'we buy houses' companies have established networks with other reputable businesses and it's easy to call to verify the investors track record.

Don't sign assignable property contracts

Contracts that can be assigned in real estate allow a fake investment home buyer to sell the contract to a genuine investor for a profit. Assignable property contracts will say something like “seller agrees to sell to buyer, and/or assigns”. Require that “and/or assigns” be removed or that a special condition be added which only allows the investor to assign the contract to a company that they own.

Investor proof of funds

Cash for house investors in Texas should have more money in their bank account than what they offered you for your home. Legitimate cash buyers won't hesitate to prove that they have the funds, but a cash home buying crook will find an excuse to not provide proof of funds. Demand to see a recent bank statement with the investor's name and do not accept a letter of credit from a lender.

Safeguard your information

Your last line of defense against trickster home investing companies is to safeguard your personal information at all costs. If asked to reveal private information during the investor sales process, don't. Even if it's absolutely necessary, do so only in the presence of an authorized individual like a real estate attorney or title company agent.

How Can I Safely Sell My House To Texas Investors?

To sell a home safely and quickly off-market, investors present a perfect opportunity if you know what a safe Texas home investing company looks like

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Good home investors don't renegotiate

Texas homeowners hoping for a speedy and secure sale need to look no further than Good Vibes Homebuyers. Contact us and receive several preliminary offers within 2-hours. After seeing your home, our safe central Texas home buyers will solidify your offers and guarantee that we will not try to renegotiate a lower price later. If any investing for houses business tries to renegotiate, chances are it's a person running a real estate scam in Texas.

Safe investors ask you to research them

Proven investors of real estate provide any information you request but just as important as what they provide directly to you is information about them being accessible on the internet. As a verified house investment Texas company, Good Vibes Homebuyers doesn't hold anything back and we want you to feel comfortable with us. Start by reaching out to the title companies we use in Bell County and the Austin to San Antonio areas or call our primary property management company.

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Real buyers deliver more than offers

If a real estate firm is run by not a scam house buyers, sellers can expect to receive more than an offer. With Good Vibes Homebuyers you get multiple options to pick from plus a free comparable sales report, rental analysis, our proof of funds, and an income sheet that details our expenses and profit. To not get scammed by home buyers Texas, walkaway if provided with anything less.

Proven businesses have proof of investing

Proof of previous investments is a key characteristic that sets apart genuine investor companies from wholesalers and property scammers in Texas. Using the Bell and Bexar County appraisal district websites, research each of these addresses and what you'll find within the deed history is 'Clear Springs Real Estate LLC', the State of Texas registered name for Good Vibes Homebuyers.

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Quality investors give away secrets

Authentic and quality Texas real estate investors at Good Vibes Homebuyers regularly publish top rated resources that are designed to protect and give sellers the upper hand when selling a property. Scam companies who say that they buy real property might have a blog, but they offer zero value or actionable insight and are intended only to increase the reach of their cash scam for homes.

Legal we buy houses company in TX

A lawful we buy houses company in Texas will operate in a way that makes it easy for sellers to feel entirely comfortable and confident in proceeding. Another way Good Vibes Homebuyers helps homeowners know that we're legitimate and genuine is providing a criminal background check and credit report upon request. Put any TX investor buyer to this test and you'll quickly uncover unethical and illegal home investing agencies.

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Real investors tell you their name

Unlike the findings of undercover reporter Julie Terruso, property investors with a proven track record have zero issue telling you their full name or even providing a copy of their driver's license. Safe house investors understand that property scams are a big a problem in Texas and that the ability for homeowners to research the names of the individuals at these companies has never been more important.

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Real Investor & Acquisitions Manager

Phil Anderson

Phil oversees all Texas property purchases and is the primary point of contact for sellers who want to work with an honest and safe house investing business. Through experience working with sellers, Phil has seen the harmful effects of phony Texas investors which is why he is quick to answer all your questions in detail and to provide proof of our legitimate homebuying business. In his spare time, Phil enjoys being outdoors, whether it's fishing, hunting, or mountain-hiking with his wife, Stephanie, and two children.

Verifiable Investor & Marketing Manager

Will Rugeley

Will manages our home investor website and business promotions and on our blog page you will find that he goes to great lengths to teach sellers how to not get scammed by Texas home investors. Will understands that selling your property can be one of life's most important events, which is why he helped to create a transparent process for selling your home. In his free time, Will enjoys dancing, watching football, reading, and investing time with his wife, Courtney, and two French bulldogs.

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Actual Homebuyer & Asset Manager

Casandra Morgan

Casandra oversees the property management of all investment rental units. When you sell off-market to authentic Texas house buyers, Casandra also serves as your personal closing assistant who navigates sellers through the title process and completes tasks on your behalf to make it easy for you to get to the closing table. Aside from legitimate real estate investing, Casandra believes that small personal details matter, and she loves traveling, fishing, and investing time with her growing family.

Not a Scam Texas Property Investors

Good Vibes Homebuyers

Our reliable and honest real estate firm is based in San Marcos, TX and was founded in March 2019. Since then, our investors have operated in good faith and believe in sending out Good Vibes only into the world. We provide sellers with all the information needed to make the best decision for their unique situation and we freely admit when our solutions may not be your best choice. The bottom line is we exist to guide you down the best path to sell a home, and, no matter how you sell, you will thrive with Good Vibes Homebuyers.

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How to Avoid Cash For House Frauds

Skip the stress and risk of finding a reliable and safe off-market central Texas home investor by selling direct to Good Vibes Homebuyers. With one simple call or text, you'll avoid cash for houses scams altogether and are guaranteed to get a better deal than any other real investor of property can provide. You can sell a house as-is, on your timeline, and can stay in your home up to 6 months after selling. Eligible Texas homeowners even get a free local move and a cash advance up to $12,500 before closing. Contact our local property buyers today!

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