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Old 09-24-2011, 08:55 PM
 
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Trying to sale my home. And I want to use one of those companies. Could anyone suggest a good one. (We Buy Homes)
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Old 09-24-2011, 09:19 PM
 
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Please remember to make your recommendations via DM only -- NOT on the open forum.

Thanks!
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Old 09-25-2011, 11:59 AM
 
Location: Cary, NC
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Quote:
Originally Posted by boob73 View Post
Trying to sale my home. And I want to use one of those companies. Could anyone suggest a good one. (We Buy Homes)
If you are going into foreclosure, as your other thread suggested, it is difficult to think that a "We Buy Houses" outfit will be able to bail you out.

They pay wholesale prices for homes which have equity. Your benefit would be a quick sale, but at a large discount from true retail market value.
Of course, if you don't have equity, that type of sale just may not work.
And, if there are any issues with the condition of the property, then the discount they would expect from full retail would be even larger.
They buy to make a profit, and that has to be built in when they purchase.

I know that this has to be an exceedingly stressful situation for you, but I hope you have investigated all avenues of selling, not just dumping the house at wholesale.

Some of the caveats in the brochure below, most particularly the benefit of knowing all parties' roles, apply to ANY sale:
http://www.ncrec.gov/pdf/brochures/WorkingwAgents.pdf
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Old 09-25-2011, 06:48 PM
 
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Many of these are frauds which will not pay off your mortgage and then throw a tenant in the house until it is foreclosed.

Be sure you have a real estate lawyer review any deal before signing.

YOU ARE TREADING ON THIN ICE HERE!

Good luck.
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Old 09-25-2011, 07:43 PM
 
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Multiply your homes value by 0.70 if in good condition. If you can sell for that amount list with a FSBO ASAP and you will have people falling over themselves to buy it.

If you cannot sell for that (no equity or no money to bring to the table) you must obtain a short sale. I would find a Realtor who specializes in it, as there must be some with a large amount of experience out there by now. The old way (as of a few years ago) of doing short sales with investors doing double closes and land trusts I think is pretty much defunct, that is how I did them (I was the guy knocking on peoples doors).

If your home is already slated for foreclosure and you are within 4 weeks I hate to say it but you are probably done.

I don't know if NC is judicial or non-judicial, if judicial you can still stay in the home for quite a while as they work through the proceedings.

Good luck and keep your chin up I know many who have been there.
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