LITTLE ROCK, Ark. — The housing market in Central Arkansas has continued to be steady despite interest rate hikes and price drops.
With that came a new trend of people getting calls from groups asking to buy their homes, even if it's not for sale.
However, that has raised the question of whether it's real or a scam.
"Everyone's probably seen those handmade signs taped to a telephone pole saying 'we buy ugly houses, or we pay cash for houses,'" said Janet Robb with the Better Business Bureau serving Arkansas.
Now, the solicitors have likely called your phone looking to buy your home.
"It's individuals that are looking for a cheap house to flip, you know, buy low, fix it up [and] sell it high," Robb said.
She said that the callers are also targeting certain people.
"They're hoping to stumble across someone who may be facing foreclosure [and] other financial straits," Robb described.
If you are in a dilemma, the quick money may seem like a great idea, but Robb doesn't want you to be fooled.
"The catch is they will offer you pennies on the dollar, as far as the fair market value of your home," Robb said.
That means you'll get less than what your house is worth.
Many wonder how these solicitors get information such as an address or a phone number— but Robb said that the information is all public.
"It's available to anyone who wants to spend a little bit of time on Google, or a little bit of time searching the county real estate records," Robb said.
She added that these solicitors are not always scammers.
"Do they truly want to entertain purchasing your property? Perhaps. Are they "scam artists?" Not necessarily," Robb said.
If you do go through with the purchase, Robb wanted to remind people to determine how big of a hurry they're in to sell the property.
He advised that you read the contract carefully and get an attorney involved to review everything.
"Your real estate is one of the most valuable things that you own, so make sure if you're going to sell it that you do so wisely," Robb said.
The BBB also said that it's a good idea to contact a realtor to guide and assist you during the selling process.