Many homeowners in Philadelphia receive repeated calls, letters, and visits from real estate investors offering cash to buy their home or other property they own. Some homeowners contact these investors after seeing “We Buy Houses” signs posted around the neighborhood or commercials on TV. The investors offer “easy” and fast cash payouts, and sometimes even offer to handle paperwork when the deed to the property names a person who has died.
These investors target homeowners in neighborhoods with rising home values, often offer far less than the actual value of their property, and use high-pressure tactics to convince homeowners to sign agreements to sell. Often, homeowners quickly regret signing an agreement to sell or did not understand what they were signing in the first place—but investors sue them in court to try to enforce the agreements anyway.
CLS provides advice and assistance and can sometimes represent people dealing with these predatory home purchases. Check out our guide to protecting yourself from homebuying scams.
- If you are thinking of selling your home to one of these cash buyers, CLS can help you determine whether you might be able to stay in your home instead. We can also help you get an idea of whether you are being offered a fair price. Many people want to sell their home quickly because they are dealing with water or gas liens, they owe overdue real estate taxes, the house isn’t in their name, or the house needs major repairs they can’t afford. There is help for these issues through CLS, the City, and other agencies, and CLS can help you find out if you qualify.
- If you have been sued by someone trying to enforce an agreement to sell your house to an investor, CLS might be able to represent you.
- If you signed something you think might be an agreement to sell your property but you aren’t sure, or you don’t want to sell, CLS can help you figure out what you signed and if there are any steps you should take to protect yourself and your property.
- Investors often buy properties where the deed is in the name of a person who has died by making cash offers to the deceased person’s relatives. If you have signed an agreement of sale for a property that has someone else’s name on the deed, CLS can help you figure out if there are any steps you need to take and if free assistance is available to you.