We Buy Ugly Houses??? (for sale, how much, neighborhood)

[Americasman]

Has anyone ever sold a home or had any dealings with the company that advertises "We Buy Ugly Houses?" How does it work, do they give you a fair price?

[TexasRedneck]

Define "fair"....usually, it's going to be in the 60-80% of value range. They are looking for those that want/need to sell their houses now.

[elnina]

Someone who agree that he has an ugly house, cannot expect big bucks for it...
I think, that's the idea.....

[kevcrawford]

Their M.O. is to buy houses from folks that are in distress and they can get it for as cheaply as possible. They're going to buy it, rehab it and put it back on the market immediately. Occasionally they'll keep it as a rental. So if you talk to them, remember that they need to buy it cheaply enough to afford to put money into it and sell it for a profit. You're not going to get what you'd consider a "fair" price for it. They're investors that bought the "Homevestors" franchise.

[ged_782]

If you have a house you want to sell that is in need of repair/renovation, and you're unwilling/unable to undertake such a project, unless you are in need of an immediate sale, wouldn't it be better to list it for sale "as-is" with a realtor?

Sure, you'll take a hit either way, but if you sell it through a conventional listing, I would think you have a better chance of selling it to a buyer who wants to live in it themselves, and invest a little "sweat equity", especially if the house is located in a desirable neighborhood.

[amexicano]

Originally Posted by ged_782

If you have a house you want to sell that is in need of repair/renovation, and you're unwilling/unable to undertake such a project, unless you are in need of an immediate sale, wouldn't it be better to list it for sale "as-is" with a realtor?

Sure, you'll take a hit either way, but if you sell it through a conventional listing, I would think you have a better chance of selling it to a buyer who wants to live in it themselves, and invest a little "sweat equity", especially if the house is located in a desirable neighborhood.

I think it depends on the amount of work required. People may be willing to do some basic repairs, but I think most "normal" buyers (i.e. not investors) may walk away from mayor renovation projects. Besides, you would still need to make it worth their while, and that means discounting the house more than it would cost to repair.

I think the rule of thumb is that if you want to maximize the selling price and profit on the house you should do all the repairs before selling.

[kevcrawford]

Originally Posted by ged_782

If you have a house you want to sell that is in need of repair/renovation, and you're unwilling/unable to undertake such a project, unless you are in need of an immediate sale, wouldn't it be better to list it for sale "as-is" with a realtor?

Sure, you'll take a hit either way, but if you sell it through a conventional listing, I would think you have a better chance of selling it to a buyer who wants to live in it themselves, and invest a little "sweat equity", especially if the house is located in a desirable neighborhood.

Hard question to answer with a blanket statement. Really depends on the home, price, amount of repair, etc. More importantly, it depends on the seller's personal situation.

With HGTV, there are a lot of buyers that are out there looking for homes like this that they can renovate themselves. When they actually get down to the amount of work, most decide they're in over their heads, but they've got high aspirations.

There are quite a few homes sold as-is on the MLS. Lots to investors, but lots to owner occupants too.

[Chaka]

Originally Posted by amexicano

I think it depends on the amount of work required. People may be willing to do some basic repairs, but I think most "normal" buyers (i.e. not investors) may walk away from mayor renovation projects. Besides, you would still need to make it worth their while, and that means discounting the house more than it would cost to repair.
.

Unless you're talking about an historic neighborhood/urban/inner loop area. Loads of us buy old houses badly in need of repair. Not just investors.

[jons_wifey]

Am curious to know myself...so these folks who advertise they buy homes...were talking about folks with CASH ready to buy, right, no matter how much they pay the seller...?

[resonator]

Be sure to read their reviews.

Some have you sign some papers before they offer to buy. And they may not make an offer... but

Then, from signing those agreements, you are committed to giving them a heavy commission on any sale, even after you part ways.