If you’ve been driving around in North East, chances are you’ve seen some billboards advertising companies that buy houses.
Often times they say things like “We Buy North East Houses!” or “Cash For Your House”.
Are These “We Buy Houses in the North East Companies” Credible?
How do I find out which of these local companies out there are honest and credible?
Well, to the untrained eye they may all look the same. But below we’ll walk you through some things to look for in a local house buying company before you should work with them.
Buying and selling houses is a valid business plan, and when executed correctly can be beneficial for everyone involved. But just like any other business – there is a small minority that gives the rest a bad reputation.
There are people who are really great, people who are trying to improve their local area 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.
We’ll help you avoid these shady practices so you can work with honest, respectable, and reputable local companies who can buy your house for a fair, all cash offer and complete when its convenient for you.
But let’s not focus on the negatives – at least not yet.
First, let’s cover exactly what the best house-flippers are doing.
What Reputable North East House Buyers Are Doing
- Helping people access the money they need straight away. Sometimes people physically can’t wait to sell their property, they may need to relocate for a job or to be closer to family. We can make this happen in just a few days.
- Helping sellers get rid of a nightmare properties without the hassle of having to list it with a broker and wait months and months for a sale.
- Creating Local Jobs. The average property we work on involves around 90 people. Most of those being local plumbers, electricians, roofers. You name it, if they’re in a trade, we probably give them a fair chunk of work.
- Buying UK products. We spend tons of money on materials that are made right here in the UK – that creates jobs in our timber mills, factories, supply shops, distribution centres and more. The UK economy depends on steady improvement, and that requires investment from people like us.
- Increasing the value of North East neighbourhoods. 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 North East.
- 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 NHS, schools, fire, police, libraries, streets and other valuable pieces of infrastructure. Again, improving our 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 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 A Reputable Local House Buyer
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.
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?
Second, look for tell tale signs of tactics that those few shady operators tend to use.
- Pressuring you into a fast completion – 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 North East House Buyers 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 North East 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 the North East companies“… never be afraid to ask questions!