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When you see a real estate sign that says "you buy this house, we'll buy yours for cash", how does that work? Is this some type of gimmick? Do they give you some kind of low ball offer?
There is one real estate company that offers to buy your house if it doesn't sell in 6 months and it's no scam. They will actually buy it BUT there are a few things that have to happen first. The upside is they're upfront about everything before you sign with them including how much they'll pay if your house doesn't sell. For us the downside was they couldn't pay enough to make it worthwhile (at least at this point) but I could see how it could work for many people.
If you can accept their offer then you have absolute peace of mind knowing that no matter what in 6 months you're moving, and since they've agreed to buy it you can look for another place right away knowing exactly when you'll be ready.
In my market, most of those are, if you buy one of the agent's current listings, then they'll buy yours, however, it's usually about 85-90% of THEIR appraisal. Keep in mind, the agent has to turn around and sell it and not lose any money on the deal, so why would they buy your house for market value when the agent loses in the end?
Actually, it's ERA. It's called the seller security plan. If you have them in your area just call one of the Realtors and ask them to come over and explain the SSP. It's not a gimmick but your home does have to qualify.
Actually, it's ERA. It's called the seller security plan. If you have them in your area just call one of the Realtors and ask them to come over and explain the SSP. It's not a gimmick but your home does have to qualify.
Thank you Brandon, I wasn't sure if it was ERA or Prudential. I still think it's a good program even though I didn't use it, especially if you think the market is still going to fall alot more.
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jimj
