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I am one of those we buy houses companies and most of the people getting into trouble with the start AG are licensed professionals such as realtors, mortgage brokers appraisals. Those are the ones making bad names for flippers.
Me personally i have paid up to 105% of market value. For those of you that are saying investors look to but houses at substantial discounts are profiling. It is true that a house sales for more with a realtor, but what they don't tell you about are all of the cost related with them selling.
With a realtor, you have to pay commission, then you have to come with seller concessions, maybe a few repairs, have to wait months and months for a buyer to come along, pay some closing cost. By the time you add in all of the cost associated with selling with a realtor, you are looking at 20% off of the actual sales price. An investor like me comes along an offer 85% which will net the home owner 5% more.
If you are going to check with AGs office check look up your realtors too, because you have some that are criminals and break every law they can, since they know the rules better than you.
I am one of those we buy houses companies and most of the people getting into trouble with the start AG are licensed professionals such as realtors, mortgage brokers appraisals. Those are the ones making bad names for flippers.
Me personally i have paid up to 105% of market value. For those of you that are saying investors look to but houses at substantial discounts are profiling. It is true that a house sales for more with a realtor, but what they don't tell you about are all of the cost related with them selling.
With a realtor, you have to pay commission, then you have to come with seller concessions, maybe a few repairs, have to wait months and months for a buyer to come along, pay some closing cost. By the time you add in all of the cost associated with selling with a realtor, you are looking at 20% off of the actual sales price. An investor like me comes along an offer 85% which will net the home owner 5% more.
If you are going to check with AGs office check look up your realtors too, because you have some that are criminals and break every law they can, since they know the rules better than you.
Nice try but completely false. Yes with a realtor you do have commissions but sorry a few repairs added to that are not bringing it anywhere near 20%.
Meanwhile on the flipside EVERY time (notice how I capitalized every) I have dealt with a "we buy homes" company the offer has been 40% to 50% of market value. Of course since the home had not sold yet the market value is just an estimate but I am sure was not far off.
Now this was about 12 of the last 12 times dealing with these companies so I do see a trend and it is not 85% of value.
You also stated that you paid 105% of value. Sorry but I don't see that. You are an investor and paid more than a home is worth? Sounds like a crock to me.
see the ads all the time, We buy houses any place any time! Has anyone dealt with or know ANYTHING about these outfits. We are desperately trying to sell my parents house, and would like to know if we this is legit.
thanks
Most of my experiences with these types of companies, (not this one in particuar) is that usually they will insist on seller financing, primarily doing a lease/option, so they can tie the property up long enough and flip it.
Nice try but completely false. Yes with a realtor you do have commissions but sorry a few repairs added to that are not bringing it anywhere near 20%.
Meanwhile on the flipside EVERY time (notice how I capitalized every) I have dealt with a "we buy homes" company the offer has been 40% to 50% of market value. Of course since the home had not sold yet the market value is just an estimate but I am sure was not far off.
Now this was about 12 of the last 12 times dealing with these companies so I do see a trend and it is not 85% of value.
You also stated that you paid 105% of value. Sorry but I don't see that. You are an investor and paid more than a home is worth? Sounds like a crock to me.
Only disagreement with what you stated.
Most of the properties that these companies deal with are low end properties.. Locally $10K-$50K properties for example.
With real estate agents taking 7%, A few repairs for things like a furnace, carpeting, etc can easily add up to 20%..
Simply comes down to what $ figure your dealing with when buying properties.
I am one of those we buy houses companies and most of the people getting into trouble with the start AG are licensed professionals such as realtors, mortgage brokers appraisals. Those are the ones making bad names for flippers.
Me personally i have paid up to 105% of market value. For those of you that are saying investors look to but houses at substantial discounts are profiling. It is true that a house sales for more with a realtor, but what they don't tell you about are all of the cost related with them selling.
With a realtor, you have to pay commission, then you have to come with seller concessions, maybe a few repairs, have to wait months and months for a buyer to come along, pay some closing cost. By the time you add in all of the cost associated with selling with a realtor, you are looking at 20% off of the actual sales price. An investor like me comes along an offer 85% which will net the home owner 5% more.
If you are going to check with AGs office check look up your realtors too, because you have some that are criminals and break every law they can, since they know the rules better than you.
So, are you saying that you & your company are in the business to buy houses at or above market price? How long can that business model sustain?
Everyone should consider the source of the info. Get-smart is in business to make a profit when he buys a house. He can go ahead & do that in a legal ethical way, and we should give him the benefit of the doubt & assume he is. But still, it's in his interest to convince people that they will benefit by selling to him instead of selling on the open market. Can the set of facts that he presented be accurate & correct? Of course. Are they the norm? Does he regularly pay above fair market for a house he wants to buy for the purpose of selling at a profit? Probably not. If he pays fair market price on a regular basis, why wouldn't he wait for you to list the property, maybe even reduce the list price, and then just buy it on the open market? Of course it's because he doesn't want to be competing with all the other buyers.
As a rule, you get the best price for your property by exposing it to all the potential buyers for it. In certain limited instances, such as when you absolutely must be out of a house in a short time, then selling to a company like this may be beneficial to you. As always, do the research, weigh your options, make the choice that is right for your circumstance.
Most of the properties that these companies deal with are low end properties.. Locally $10K-$50K properties for example.
With real estate agents taking 7%, A few repairs for things like a furnace, carpeting, etc can easily add up to 20%..
Simply comes down to what $ figure your dealing with when buying properties.
Most houses that these companies go after have lis pendens or foreclosure paperwork filed already.
Thus they are priced where if they sell the sellers are not walking away with anything or very little and as such are as is with right to inspect so repairs will not really come into play.
The properties I have had them offer on were anywhere from $120,000 to $250,000. The offer on a 2000 sq ft lakefront home which was listed at $220,000, $20,000 below what he had paid 2 years before, was just over $100,000.
Even if the seller took an offer of $200,000 less commission and closing costs they would still be clearing around $185,500. That is around 7% off of the $200,000.
That is well above the offer from "We Buy Homes" even if they do pay the closing costs.
I have had quite a few contact my listings and have never seen an offer even at 60% of market
I have run into several sides of this equation. I know the guy that posts most of the signs you see. He is in violation of FL real estate laws and has had numerous complaints. His tack is simple he holds off the banks buy promising to sell but often makes no payments. then he sells it and takes all the equity. which for him usually means 40% or more. It is no bargain for the home owner. I dealt with one home owner that ran into another company that did the same thing. they took the equity in their home in Tampa and "traded" them a home in Orlando. The home here was never deeded to them and when the bankruptcy came through they were evicted. I was the one dealing with the courts and had to deliver the news to them. It was not a good day. but they did get situated in another home and this time properly.
I cringe when I think of home owners calling these numbers out of desperation. the best choice is to list the home and sell it conventionally. this way you keep your equity. If the home has more loaned against it than it will sell for then a short sale can normally be worked out with the lender. Listing a home is considered the effort they require to handle the property and they provide much more leniency towards borrowers.
If a home is looking like a foreclosure is coming list it and get your agent to work with your lender this is the best option to protect your credit.
I say in ALL cases avoid calling We buy houses. It is more We steal houses.
There are better options.
I am one of those we buy houses companies and most of the people getting into trouble with the start AG are licensed professionals such as realtors, mortgage brokers appraisals. Those are the ones making bad names for flippers.
Me personally i have paid up to 105% of market value. For those of you that are saying investors look to but houses at substantial discounts are profiling. It is true that a house sales for more with a realtor, but what they don't tell you about are all of the cost related with them selling.
With a realtor, you have to pay commission, then you have to come with seller concessions, maybe a few repairs, have to wait months and months for a buyer to come along, pay some closing cost. By the time you add in all of the cost associated with selling with a realtor, you are looking at 20% off of the actual sales price. An investor like me comes along an offer 85% which will net the home owner 5% more.
If you are going to check with AGs office check look up your realtors too, because you have some that are criminals and break every law they can, since they know the rules better than you.
Buy all my listings at just 95% of market value, GetSmart...I'll sell them all to you at that price, I'll do all the paperwork for both sides and I won't charge anyone a penny.
My website with my listings and contact information is available through this site.
With real estate agents taking 7%, A few repairs for things like a furnace, carpeting, etc can easily add up to 20%.
If the cost of a furnace repair and carpet represent 13% of the value of your house, you should be paying someone good money to sell it...kevlar ain't cheap.
Most of my experiences with these types of companies, (not this one in particuar) is that usually they will insist on seller financing, primarily doing a lease/option, so they can tie the property up long enough and flip it.
BINGO!!!!!!
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we buy houses
