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Old 02-24-2021, 10:28 PM
 
Location: Hills of TN
254 posts, read 427,839 times
Reputation: 513

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I live near Crossville, TN and have been here for about 10 years now.
Within the last month I received 3 letters and (yesterday) a phone call asking me if I want to sell my house. Letters I ignored, but the caller sounded legit and professional, said his company is "looking for properties on Cumberland Plateau". They pay cash and are willing to give me up to 90 days to move.
In the last 10 years I have not seen any unusual interest in my property, so I am puzzled...



... Is it a scam? Is it COVID? Is it an exodus from other states and/or big cities?

Is it an investment group?



I would love to hear your thoughts
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Old 02-25-2021, 05:25 AM
 
12,604 posts, read 35,191,694 times
Reputation: 9710
Quote:
Originally Posted by Zen Dragonfly View Post
I live near Crossville, TN and have been here for about 10 years now.
Within the last month I received 3 letters and (yesterday) a phone call asking me if I want to sell my house. Letters I ignored, but the caller sounded legit and professional, said his company is "looking for properties on Cumberland Plateau". They pay cash and are willing to give me up to 90 days to move.
In the last 10 years I have not seen any unusual interest in my property, so I am puzzled...



... Is it a scam? Is it COVID? Is it an exodus from other states and/or big cities?

Is it an investment group?



I would love to hear your thoughts
I think it's the bolded. I've had four realtors contact me asking if I'd like to sell my house near Cookeville. It appraises for nearly double what I paid for it 7.5 years ago. But I'm absolutely not interested in selling. Still, this area is getting very popular with people fleeing certain parts of the country. This is definitely a seller's market.
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Old 02-25-2021, 06:09 AM
 
Location: Hills of TN
254 posts, read 427,839 times
Reputation: 513
Thank you, JMT. I value your opinion.
Your balanced and objective views on the area helped me with the decision to move here 10 years ago
and I never regretted it.


Now I wonder if this is an investment group trying to buy as many houses in the area as they can because the exodus just started and there is a lot of money to be made.

From what I read: TN, TX and AZ were the top 3 destinations to move for people fleeing big cities. I think many will scratch Texas off of their list after this winter.

Last edited by Zen Dragonfly; 02-25-2021 at 06:29 AM..
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Old 02-25-2021, 06:11 AM
 
Location: Cookeville/Crossville
314 posts, read 353,263 times
Reputation: 271
Yes, inventory is very low. They are probably contacting you with a buyer in mind or just knowing someone will buy your home if you choose to sell. We are in a similar situation.
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Old 02-25-2021, 06:25 AM
 
928 posts, read 1,086,672 times
Reputation: 606
We've been receiving offers for our place in Cookeville for the last several years...I think it's a combination of low inventory per realtor and a hot housing market.
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Old 02-25-2021, 07:21 AM
 
Location: 38506
62 posts, read 27,700 times
Reputation: 172
We bought a house last year and within a month a realty had left letters asking us to contact them when we are ready to sell. So I agree with everyone here I think the market is hot with low inventory.

If you are curious about selling you should probably contact a realtor/lawyer to represent you and have them vet the people contact you.
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Old 02-25-2021, 09:30 AM
 
27,248 posts, read 24,482,607 times
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I have gotten letters asking to purchase my property regularly for the past several years. I assumed an investment group as they were definitely not from any local reality company. No phone calls or none that I have answered.
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Old 02-25-2021, 10:37 AM
 
20 posts, read 16,787 times
Reputation: 57
One of the letter solicitations was from Texas and gave me a dollar offer in the mail for 4 undeveloped acres I have. They claim they will pay all sale expenses to boot. I have no intention of selling. These sight un seen offers are telling of the stats these investors are looking at.
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Old 02-26-2021, 06:24 AM
 
Location: Hills of TN
254 posts, read 427,839 times
Reputation: 513
Thank you very much to all of you for comments and advice.
Several of you were getting inquiries for years - not my case. Everything was quiet here until this month,
and then boom: three letters and a phone call (the guy was calling from Nashville).
That's why I started a thread: I wanted to know if anyone else is experiencing unsolicited interest in their property


I am not interested in selling at this time, but it's good to know it is seller's market
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Old 02-26-2021, 07:33 AM
 
27,248 posts, read 24,482,607 times
Reputation: 25198
Quote:
Originally Posted by treehouse21 View Post
One of the letter solicitations was from Texas and gave me a dollar offer in the mail for 4 undeveloped acres I have. They claim they will pay all sale expenses to boot. I have no intention of selling. These sight un seen offers are telling of the stats these investors are looking at.
I have gotten those as well. I have a 10acre lot adjacent to my property my house sits on. I thought the price/acre they quoted was a bit low. Not that I have any intention of selling.
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