We Buy Ugly Houses? (sale, how much, job transfer)

[yellowsnow]

Has anyone ever sold to one of these places? And how much money did you lose?

Thanks!

[golfgal]

We had some people approach us from a company like this many years ago when we were selling our house for a job transfer and the price they gave us was ridiculously low, less then what we had paid for the house 2 years earlier in a BOOMING market. We didn't have issues selling that house at all so I can imagine what they are offering now in this slow market.

[IncredibleKaren]

I am not a homeowner but I work at bank that has several Homevestors customers. From what I see, homes are never purchased at market value by these guys. The prices is always very low. It's not something I would advise someone to do unless they absolutely had to.

[TimtheGuy]

Originally Posted by IncredibleKaren

I am not a homeowner but I work at bank that has several Homevestors customers. From what I see, homes are never purchased at market value by these guys. The prices is always very low. It's not something I would advise someone to do unless they absolutely had to.

And why would they be offering market value?? They would be out of business in a hurry if they did. That is not the business model.

[IncredibleKaren]

Originally Posted by TimtheGuy

And why would they be offering market value?? They would be out of business in a hurry if they did. That is not the business model.

You're right. I'm just saying don't expect market value if you want to sale to HomeVestors or any similar company. That's all

[yellowsnow]

I didn't expect market value. Just wondering how much MORE I would lose. Let's face it, the house won't sell at all. Here it is Labor Day again and I'm looking at the prospect of being held hostage for ANOTHER Minnesota Winter. Sooner or later it becomes an issue of how many years of your life are you willing to give up to sell a house. I was supposed to be retired in 2006 and sitting out at my pool. Here I am still working, mowing, raking, and shoveling. BAH!

[maknadif]

It's up to you. There are so many investors that have " We buy houses for cash" type of deals out there. All you need to do is call a few and see what their willing to offer. Compare that to what an agent is willing to do a Guarenteed home sale price for you and then make your disicion. Your options are between staying or going and what it will cost in the inbetween. If you go with an agent that offers this type of sale program you will at least be giving yourself the option of getting more from the market price.

I've been in the business for 11 years so that's my opinion and professional advice. Hope it helps.

[Robert P Stewart]

Please be aware of 'guaranteed' sale prices by Realtors too. I'm very familiar with most of these programs and I'm surprised to hear someone from the industry mention them. Typically, there are all kinds of 'adjustment' percentages built in to the 'guaranteed' sale price such as:

"We'll buy your home for $350,000, less 4% buyers fee and a 5% market adjustment fee or some other crap (admittedly, the contract won't say 'some other crap').

There is no magic bullet in the sale of your home. The only magic bullet is when a buyer wants to pay the price that you're offering.

To be a help in the sale of your home - I would recommend that you offer a package deal with special financing for your home. Find some of my other posts on this forum to see what I mean. These days, financing sells homes.

Robert