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Old 10-13-2008, 02:01 PM
 
1 posts, read 2,913 times
Reputation: 10

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Need help to determine to use RE Agent or sell to "I buy houses" type buyers. Sell RE Agent approach means about 12 to 13% reduction in My Pocket after sale, all fees, etc. For example: $170,000 - 13% = $148,000.
House in San Pedro Hills built 1976, 3/2/2, 1800 sq ft, backs up to a wide creek area - green belt, one owner, no mortgage, 2 yr rood with ridge vents, in excellent condition (per RE Agent review). RE Agent says put it on market for $170K - 175K. Will take 60-95 days Best to wait till March for Spring market. However I want to relocate asap for retirement.
If you have some thoughts about this and if you have had experience with the "I buy houses" type buyers, please let me hear from you.

Thank you billjferg
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Old 10-13-2008, 04:06 PM
 
Location: San Antonio
4,149 posts, read 9,303,976 times
Reputation: 3308
Where are you getting the 12-13% number?
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Old 10-13-2008, 05:20 PM
 
Location: Charleston, SC
5,615 posts, read 12,791,258 times
Reputation: 2534
you'll take a lot more than 12% off if you sell to one of the 'we buy houses' groups...
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Old 10-13-2008, 08:33 PM
 
Location: Seaford, Delaware
3,471 posts, read 17,211,265 times
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I would throw it on the market and see what happens. There are buyers out there. Credit is not dead to people with good credit. If after the election or the holidays, it hasn't sold, then see what the "I buy houses" guys say. You would regret not trying to sell it with a realtor if you do not try. I'm not a realtor, but I don't think people like yourself should fall for the hype of the country's serious financial difficulties. The banks and stock funds are in trouble, not you and me. There are serious problems with credit, but there really are buyers out there. List it and see what happens.
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Old 10-13-2008, 08:40 PM
 
Location: San Antonio
4,149 posts, read 9,303,976 times
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ShaneSA is correct. Correctly priced homes are still selling. The "I buy houses" guys are for people that have tons of equity and know they're going to take a huge loss. The market is a little slower, simply because the lenders have tightened up (which they should have long ago), but there are still more than enough qualified buyers out there. You just have to make sure that your house is priced correctly and shows better than your competition.
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Old 10-14-2008, 09:36 PM
 
Location: Western Bexar County
3,823 posts, read 13,347,445 times
Reputation: 1905
It is my understanding that the I buy houses buyers are there to make a large profit and mostly for desperate sellers. Unless you own the home free and clear or have lots of equity, you'll probably come out with a lot less than the house is worth. Some of the signs say I buy UGLY houses...that speaks volumes of what you're up against.
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Old 10-14-2008, 10:30 PM
 
554 posts, read 2,101,449 times
Reputation: 194
I buy houses people are not for people that can afford to sell their home on the traditional market. These sellers are on the brink of foreclosure, or their house isn't in great shape so they're not going to get a lot of money for it anyway. Most "I buy houses" folks are looking for something they can flip, or paper they can sell to someone who will put the work into flip it.
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Old 10-15-2008, 08:02 PM
 
Location: San Antonio, TX
20 posts, read 66,352 times
Reputation: 11
I am an agent as you see and would love to know where I can get the 12 to 13%. Sign me and most other agents up. Sorry I am not trying to be rude.

I have noticed since I started meeting with FSBO's that they haven't been properly informed by agents--should I say the agent didn't clarify things.

Most and I do say most professional agents (traditionally, there is always an exception to the rule) just charge 6% and of that 6% -- 3% goes to the buyers agent and the other 3% goes to the listing agent. Know that noone gets paid until your house is SOLD!

When and if you decide to use an agent make sure you interview them see what they are going to do to get your home SOLD. Key things to get your home sold

Pricing---You control
Exposure---Agent controls
Condition--- You control
Location---That can't be changed

In regards to the putting your house on the market in March. Alot of sellers are taking there home off the market for the holidays to get a BREAK. So that means less homes on the market right so that is good for you to be on the market especially when you are READY to sell now.

Good luck with whatever your decision is.
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Old 10-17-2008, 11:16 AM
 
3 posts, read 8,324 times
Reputation: 10
Also remember that there are still people looking for homes out there. I just closed on my house yesterday and went through a very normal process with Bank of America for a mortgage. We did the mortgage at the "height" of the insanity (during the bailout sessions). Looks like we are just back to the "old rules" of lending when it comes to credit. And that, as they say, is a good thing.

The "We Buy Houses" people serve a useful role (just like the high-risk lenders who charge 14% interest on a mortgage "loan") but they are there to take advantage of misfortune. I put them in the same category as a check advance place that eats 10% of your check. Sometimes you just really need that money, but doing it weekly is pretty dumb!
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