When you’re driving around Montreal, you’ve probably already noticed these ads from companies buying houses.
They often proclaim things like “We buy houses in Montreal!”, or “Achat de maisons cash!”.
Are companies that say “We buy houses in Montreal” reliable?
How can I find out if these companies are reliable and honest?
Although at first glance they may all appear to be the same, there are a few things you should check before getting involved with a home-buying company.
Buying and selling homes is a valid and respectable job that helps communities and home sellers alike. However, as in all professions, there are a minority of real estate buyers who make the whole thing look bad.
There are honest, ethical workers out there, improving the neighborhood one house at a time.
And then there are the shady, dishonest people who are more interested in their income than the welfare of their customers, and who would sign a contract to sell their own grandmother with one hand while stabbing you in the back with the other; as long as they can make a good profit.
Yes, they’re here, somewhere among us.
We’ve written this article to help you avoid these dubious “home buyers”. That way, you can deal with an honest, reputable and ethical company that will buy your home for a fair price, in cash, and agree to proceed at your own pace.
Come on, let’s not pay too much attention to the dark side. At least, not for the moment.
Let us first teach you what the best home dealers do.
What reputable and honest homebuyers do in Montreal
- We help people get the money they need in the time they need it. There are times when you need to recover the money you’ve invested in a property to cover unexpected medical expenses, or to relocate to live near a loved one. We can assure you that this will be done in just a few days, peace of mind included.
- We help sellers get rid of their restrictive property without having to worry about advertising it with a broker and waiting for months before selling.
- We create jobs in the region. We hire plumbers, contractors, electricians, brokers, notaries, loan officers, administrators and more. An average real estate transaction involves 86 people between the beginning and end of the transaction. Our investments create jobs for the people of Montreal, Quebec.
- We encourage Quebec industry. We spend a ton of money on materials made right here in Quebec. This creates jobs in our sawmills, factories, retail outlets, distribution centers and more. To function properly, the Quebec economy needs constant progress and investment by people like us.
- We increase the value of real estate in Montreal neighborhoods. When we make improvements to one home, the value of homes in the entire community increases. We often renovate abandoned or long-neglected homes and transform them into places where families can settle. This type of activity has the power to strengthen the Montreal real estate market.
- We increase the taxable value. Since its value is increased, a new buyer who moves into one of our properties will pay more taxes than the previous owner. These taxes support our schools, police and fire departments, public libraries, roads and much more. This helps improve our neighborhoods.
Great, isn’t it?
Many people see the resale of real estate as a way to get rich quick. This perception comes from “reality TV” shows, which grossly exaggerate the real thing. On a day-to-day basis, our work is actually quite boring.
A big part of our job is communicating with a large number of people and making sure that everything coordinates so that everything gets done at the right time. We have to keep up to date with everything that’s going on.
Let’s take a look at how this information can help you find a credible investor (not one who’s out to swindle you ).
How to ensure you’re dealing with a reputable, honest homebuyer
When you talk to a home buyer who could potentially buy your house, ask them a few questions to make sure they’re reputable, competent and honest.
Ask open-ended questions such as:
- How do you help your customers?
- What do you do for others?
- Can you tell me a little more about your services?
- What are you most proud of in your job?
- How would you describe your investment philosophy?
- How can I be sure you’ll actually close the sale on the day you say you will?
Then..,
look for signs of one of the tactics
one of the tactics often used by shady people.
- He offers a “kitchen table sale” – If a property buyer tries to get you to sign the deed of sale at home rather than at a professional location such as a lawyer’s or notary’s office, beware. Reputable buyers usually carry out legal transfers in a neutral location with a third party, such as a notary. This ensures that everything is in order.
- He’s pressuring you and wants you to sell quickly – If a home buyer is pressuring you and asking you to make a decision today, beware. Typically, reputable buyers will make an offer, and you’ll have a minimum of 2 to 7 days (at least!) to make a decision. Reputable buyers like those at Vendre Maison Vite set deadlines because the market and property values can vary greatly from week to week. It’s also because we make several purchases each month. When we make you an offer, we make sure we have the money you need to buy your home on hand. For a few days, we’ll reserve this money for you. This way, if you decide to sell your home, we’ll be able to close the deal when you want us to. On the contrary, if you decide that the offer isn’t right for you, we can redirect those funds to another seller whom we may be able to help.
Most scammers are looking to make a quick profit, not to do a thorough interview.
There’s a good chance that a scammer will find excuses to end the conversation so he can move on to the next customer who won’t ask so many questions.
On the contrary, a true investor who runs a home-buying company professionally and ethically in Montreal plans for the long term, builds strong ties with his customers and fosters the healthy development of his community.
In short, when you talk to an investor who announces
“We’re buying houses in Montreal,
don’t be afraid to ask too many questions!
