Any legit "We buy houses" organizations on the Eastern Shore in state of MD? (for sale, foreclosures)

[NYMD67]

We own a home on the Eastern Shore, beautiful, 2yr old home which we built.
We had to move, unexpectantly due to a relocation and are currently renting our home to a nice family. We now live out of state.

The home has become somewhat of a "burden" on us as our tenants could not afford to pay us in rent what we need them to or would like them too, so we are paying for 2 homes right now esentially.

We can't get an adjustment on our home in MD because we are not delinquent on our mortgage (isn't that funny ??) and kind of feel as though we are stuck...
We have put it on and off the market 2x with no luck. A ton of foreclosures in the area....

So, we are looking at a last, desperate option, and that would be to try to sell it to one of these places that advertises "we buy houses".
We would like to know if anyone has had any experience with any of them, any that are legit and you would reccomend?

Any help is appreciated at this time!
Thanks!

[beilart]

I can't be sure but my guess is that most of these people are scam artists.

[Dreamy46]

Originally Posted by NYMD67

We own a home on the Eastern Shore, beautiful, 2yr old home which we built.
We had to move, unexpectantly due to a relocation and are currently renting our home to a nice family. We now live out of state.

The home has become somewhat of a "burden" on us as our tenants could not afford to pay us in rent what we need them to or would like them too, so we are paying for 2 homes right now esentially.

We can't get an adjustment on our home in MD because we are not delinquent on our mortgage (isn't that funny ??) and kind of feel as though we are stuck...
We have put it on and off the market 2x with no luck. A ton of foreclosures in the area....

So, we are looking at a last, desperate option, and that would be to try to sell it to one of these places that advertises "we buy houses".
We would like to know if anyone has had any experience with any of them, any that are legit and you would reccomend?

Any help is appreciated at this time!
Thanks!

So, you tried to sell it twice and found no buyers, but now you think a "we buy houses" is going to step forward and pay how much? What you had it listed for when it wouldn't sell? More? Less? How much less?

[Houston3]

I sort of had the same problem a few years ago....But all they wanted to give me was about half the market value and I still had to pay the taxes that were due up to the closing date...So I still have the house and I am renting it out...There's been a couple of bumps but in all it was better for us to keep the house. But this house is only about 20 minutes from where we live...and it is now paid for...and that helps alot..

[NYMD67]

Originally Posted by Dreamy46

So, you tried to sell it twice and found no buyers, but now you think a "we buy houses" is going to step forward and pay how much? What you had it listed for when it wouldn't sell? More? Less? How much less?

Why is everyone on here so sarcastic when answering a question...
WOW.
No, we would sell it at this point at whatever they basically want to offer us, I mean, something that was reasonable.
We didn't have our house price too high if that is your implication. We had it priced at fair market value which is much,much below what we paid...
The problem being that there were larger homes for the same price that the builders were basically "giving away" because they couldn't sell them either due to the number of foreclosures.
We would be willing to entertain anything that we felt we could handle...

[Dreamy46]

Originally Posted by NYMD67

Why is everyone on here so sarcastic when answering a question...
WOW.
No, we would sell it at this point at whatever they basically want to offer us, I mean, something that was reasonable.
We didn't have our house price too high if that is your implication. We had it priced at fair market value which is much,much below what we paid...
The problem being that there were larger homes for the same price that the builders were basically "giving away" because they couldn't sell them either due to the number of foreclosures.
We would be willing to entertain anything that we felt we could handle...

Pardon the sarcasm, I was a little shocked to see that you actually appear to believe those sharks will give you anything realistic. As the other poster said, you'll be lucky to get half of it's true value. You'll get a higher price putting it back on the market with a nice price cut.

Same goes for your "fair market value" pricing comment. Either you never priced the house low enough to attract a buyer to begin with or you had an agent that was giving you bad advice. Selling is pretty simple if you price things right. Say each month that there are 100 houses listed for sale between 350k-400k, and each month 10 of those houses sell. The right price will make you one of those 10 every time. Otherwise, you can hang out with the other 90 hopeful sellers and chase the market down.

Good luck.

[NYMD67]

That's why I asked if there were any legit ones... wasn't sure how they worked and just asked a question....

[cool rob]

Originally Posted by NYMD67

That's why I asked if there were any legit ones... wasn't sure how they worked and just asked a question....

Most of them are nasty low ballers, A buddy of mine went through the "geeks buy houses" jokers, and they literally offered him 60 % of what the house was worth, explaining the prices based on things like missing light fixtures, changing locks, (how you can explain offering 150,000 for a 400,000 house because of changing out a light fixture, I will never fathom, and btw this house went for 600 K before the bubble) etc.

He eventually told them to kick rocks, and just let the bank take it back via short sale, which eventually turned into out right foreclosure. Those guys are essentially shylocks, you will literally vomit in your mouth at the thought of dealing with those scumbags

Unless you are absolutley desperate, and are willing to owe the bank anyway, while these heartless jokers flip your house and make a quick buck, don't walk but sprint away

[TeamBenya]

Originally Posted by NYMD67

That's why I asked if there were any legit ones... wasn't sure how they worked and just asked a question....

Yes, they are most certainly plenty of "legit" companies that do this. What you need to understand however is that the offer they give is based upon what they intend to do with the home.

If you are expecting to find a group that will pay full market value for your home, then you should probably just forget about it. They are looking for properties where they can make a profit re-selling the home. If there's no profit to be made, why would any investment group purchase your home from you?

They are providing an alternative for people who are willing to cut the price in order to get it sold immediately. They in turn are going to do minor repairs and fix ups in order to be able to re-sell the home. The best I have seen is a 75% return on fair market value, and typically their offers are between 40-60%.

I wouldn't advocate going for an offer like that, but for some people, it makes sense.

[NYMD67]

Thanks for the input- I appreciate the 2 above posts as this is what we were looking for. Not sarcasim.

In any case, what if the home is in excellent condition? It was just built in August of 2007 and only lived in for a year... everything is brand new.
Upgraded kitchen and baths, etc.... there isn't anything that should need fixing up or repairing,at all...

We just want to get rid of the house so we can move on in our new area and not have to worry about it anymore. It is draining us and we can't keep it up and refuse to walk away from our responsibility...