You should be cautious with scammers by hiring an attorney to scrutinize the sales and purchase agreement before you sign them and know the reputation of the buyer before you finalize the transaction. Con home cash buyers exist, and they change their techniques from time to time. Home cash buyers who are scammers dupe people using these tricks.
They should not insist on paying cash because the buyer can give you fake money, less money or hire robbers to attack you afterward. It is impossible to count all the money within minutes to ensure that it is complete. You should be paid through safe methods like bank transfers.
They may lure the homeowners into transferring the deed of the house before they make payments, and this is a common technique that they use named equity skimming. They wipe out the equity of the owner after the documents of ownership are transferred to them. They will either rent out the house to make a profit and later acquire a loan on it or resell it.
The buyers can claim to be foreigners to create an impression that they have a lot of money hence they will give you a good offer. Most foreign scammers will never show their faces but communicate through emails and calls. If your home has been listed online, expect a few or more scamming emails and calls from foreigners. They will want to lure you into providing details of your bank account shop online or transfer the money to their accounts without your knowledge.
Think twice when someone offers you the highest offer than all the other buyers. The buyer may pay a less the agreed-upon amount of money later after you excitedly sign the documents before receiving payments because of the fear of losing a good deal.
Stop hoping that the buyers will come back by looking for other buyers if the first ones cannot raise earnest money to bind the contact for they may be brokers of other buyers or they are only window shopping prices. Insist that the buyer pays the remaining amount within a week or you will resell the property.
The may make several physical appearances and portray fake or rehearsed confidence to gain your trust before they make their move. You should be keen when after they get your trust, they do not give to enough time to go through the sale and purchase agreement because they can make alterations to the documents that you may not easily notice unless you read them carefully with your lawyer.