If you’re a local Bristol homeowner, chances are you’ve seen those same yellow billboards around town advertising companies that buy houses!
Many times, they offer things like, “We Buy Bristol Houses!” or “Fast Cash For Your House!”.
Are These “We Buy Houses in Bristol Companies” Trustworthy?
Most of these “we buy houses in Bristol” companies start off with that same phrase. Many add in, “we buy houses in Bristol for CASH”! When they all have the same pitch, it’s difficult to figure out who is trustworthy and professional and who might not be.
Buying and selling houses is a valid and respectable profession – whether you find yourself using a real estate agent or a real estate investment company; we’ll walk you through some things to look for in your local home buying company before you decide to work with them!
There are people and companies out there that are really excellent and try their best to work with your unique situation and then there are some unethical folks that make the good ones look bad.
The ethical people will try their best to improve the quality of the neighborhoods, one property at a time. While the unethical people only care about rushing you along for the sake of another property.
First, let’s talk about what the best real estate investors/house-flippers are doing!
What Reputable Bristol House Buyers Are Doing
- They help people in financial distress improve their situations by accessing the money they need on their schedules! We know this doesn’t sound right but we promise it is! People often need to cash out their homes fast to cover unexpected expenses. When you work with a reputable house buyer like us, we can make that happen in as little as one week, and you will have peace of mind!
- They help sellers get rid of troublesome properties without the hassle! A reputable home buying company will buy your property as-is, on your timeline and you won’t have to wait months and months selling through a real estate agent! Not to mention the commission you’ll be saving!
- Create local jobs! We hire electricians, plumbers, painters, roofers, landscapers, attorneys, office administrators and many more local, Bristol contractors along the way! They say it takes a village; when you buy from a reputable home buying company, you will see just that! In order to ethically, professionally and legally buy and sell properties; you have to have the full team!
- Increasing the value of Bristol neighborhoods. When we improve a house, it increases its value, thus increasing the value of the whole neighborhood. In some cases, we repair abandoned and neglected homes, turning them in beautiful properties ready to hold another family. That activity strengthens Bristol!
Pretty interesting points, right?
Lots of people think house-flipping is a quick, get-rich-quick scheme. This is fueled by “reality” shows you find on cable TV that have amped up drama for rating purposes. The reality of those shows are, they aren’t real life. We do this on a daily basis and have since 2007, most of what happens is really quite boring.
The majority of our work is coordinating with the sellers and our team to make sure things are happening on time. There are lots of moving parts to keep organized.
Let’s get back to how you can decide for yourself if someone is a credible investor or just your neighborhood handy-man trying to pull a house buying scam.
How To Be Sure You Are Working With A Reputable House Buyer
When you decide to work with any business professional, whether it’s to fix a tooth or to sell your property; you need to do your homework! Asking your local house buyer some specific questions can help you ensure they are knowledgeable and honest.
Ask open-ended questions like:
- Can you tell me more about your services?
- How do you help your clients?
- How can I know that you’ll close on my house when you say you will?
- What do you do for people?
- What aspect of your business makes you the proudest?
- How would you describe your investment philosophy?
You should always do a quick Google search of who you are considering working with as well! A reputable home buying company will have reviews online and will likely be registered with the Better Business Bureau. Most scammers are not as business-savvy as the true real estate professionals you are looking for. Therefore, their online footprint will be smaller and less reliable.
Also watch out for:
- “Kitchen table closings” – If a property buyer tries to get you to sign over the deed (ownership) of your house over to them at your house, instead of at an attorney’s office or a title company, be leery! When we go through any real estate transaction/closing, our attorney and their team is involved per standard Connecticut guidelines and laws. This ensures everything is done right, done legally, and done professionally!
- Pressuring you into a fast closing – If a home buying company is pressuring you into selling your house and says you must make a decision same day … be leery. Most reputable home buying services will make you an offer after physically coming out to view your property and doing their research. This takes about a day in itself. From there, they will give you an average of 2-7 days to review their offer with your family, attorney, or trusted individual. While there might be a deadline to make the decision, you will never be rushed into signing anything! The reason reputable home buying companies like us at, Valley Residential Group LLC, do place deadlines on our offers is because the market and value changes week to week. The offer we make you stands for the current market and your current property. If you decide our current offer does not meet your needs, then you simply give us a call saying so and we wish you good luck. If in the future you decide to revisit our company, then we can make you another no obligation offer that represents the market at that time.
Most scammers and non-reputable home buyers are looking for a quick buy and not an in-depth interview of your property and situation. So be sure to ask all the questions you can think of, look for reviews online and even ask to speak with references such as their attorney.
True investors who run honest and ethical home buying services will take the time to work with you and be sure all parties are comfortable and confident in their decisions, building up the communities around them.
So, when you’re looking at one of those “we buy houses in Bristol” ads, even if its ours … never be afraid to ask lots of questions!