If you’ve been driving around in Kitchener, chances are you’ve often seen some billboards advertising “We Buy Houses in Kitchener” companies. Sometimes, they may use catchphrases like “We Buy Kitchener Houses!” or “Cash For Your House”. It is thus normal to question the credibility of such ‘We Buy Houses in Kitchener’ companies.
Are These “We Buy Houses in Kitchener Companies” Credible?
How do you know if the local house buying companies out there are honest and credible? Well, sometimes they all look the same at the start; however, if you want to know how to differentiate the distinguishing companies from others, keep on reading to know what to look out for in a local house buying company before you consider working 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 handful of house buyers in any market bring down the credibility of companies like Ontario Property Buyers that are working around the clock to cater to their clients.
There are people who are really great, ethical folks who improve their neighbourhoods one property at a time.
And then there are some 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!
Here, we will 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.
First, let’s cover exactly what the best house-flippers are doing.
What Reputable “We Buy Houses In Kitchener” Companies 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. 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 on end 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 Kitchener, Ontario.
- Buying Canadian products. We spend a significant amount of money on materials that are made right here in Canada – which creates jobs in our timber mills, factories, supply shops, distribution centres, and more. The Canadian economy depends on steady improvement, and that requires investment from professions like ours.
- Increasing the value of Kitchener neighbourhoods When we improve a house, we are helping to increase the value of the entire community. We often repair abandoned and neglected houses, turning them into beautiful homes for families. This activity strengthens Kitchener as a community.
- Increasing the tax base. When a new buyer takes over one of our properties, they will pay a higher tax rate based on the new and improved value. These taxes go to pay for our schools, fire, police, libraries, streets, and other valuable pieces of infrastructure, again, improving the neighbourhoods.
Pretty cool stuff, right?
Lots of people think of house-flipping as a get-rich-quick scheme. That’s fuelled by silly “reality” shows that amp up the drama because the reality of what we do on a daily basis is actually pretty intense and can get quite hectic.
Most of our work at Ontario Property Buyers involves coordinating with a large group of people belonging to different fields of professions to ensure tasks are being timely completed. There are a large number of moving parts that are constantly being tracked by our team.
Now let us 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 on you.
How To Ensure You’re Working With A Reputable Local House Buyer
When you talk with a local house buyer to potentially buy your house, ask them some of the questions listed below to ensure they’re reputable, knowledgeable, and honest.
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 proudest?
- How would you describe your investment philosophy?
- How can I know that you’ll close on my house when you say you will?
Secondly, look for tell tale tactics that a 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 wary. 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, again, be cautious. Most reputable house buying services will make you an offer that 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 Ontario Property Buyers do place deadlines on our offers is because the market changes and values can change weekly depending on other sales in the area. Additionally, we buy multiple houses each month and when we make you an offer we are assuring you that the cash to purchase your house is ready and we will 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 will 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.
The chances that they’ll find excuses to get off the phone and move on to someone who doesn’t ask too many questions are high when it comes to individuals looking to scam home sellers.
True investors who run honest and ethical house buying services in Kitchener, 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 Kitchener companies“, never be afraid to ask questions!