Is selling your house to an “We Buy Homes” thing a scam? I want to sell my house fast but is this good to do?
Posted by | Posted in Buy My Home Fast - Articles | Posted on 13-03-2010-05-2008
4
I just want any advice on this. I am looking to try to sell my house in the next year or so. I know its not a sellers time right now.
Related posts:
- How do I find someone that will sell or buy my home fast for a good price the home is near Myrtle Beach SC?
- How to Sell and Buy Your House Fast
- Sell House – 101 Tips For Selling Your Home On Your Own! Everything You Need to Know about Selling Your House…
- How To Sell Your House Fast And With More Profit.
- Sell My Home Fast-Buy My Home Fast
The “We buy homes” people are house flippers, it’s not a scam, but they may not give you a good bargain on your home. What they do is purchase it from you, fix it up and resell it for more than they paid. You yourself can do the same thing so it’s not for the well-informed. I’d suggest just talking to a realtor, or attempting to sell it on Craigslist.
They pay you much less than you could get if you sell it the regular way. If you are desperate it is ok to do, the buyer gets a cheap house to flip and you get it over with.
It’s not a scam just normally not a good deal for the seller. On the norm these companies buy for around 80% of the tax appraisal value or at max of the fair market value, so unless you just need out of the house now, it may not be your best option
They will buy your home for cash. They can close the sale in 5 days. They pay you 60% of the house’s value. You do not get to decide the “value”. They will tell you that number. They have to pay this amount so they are certain of making a profit when they re-sell the house. If they pay you too much, they won’t be able to unload it quickly.
The “We Buy Homes” guys have been hurt by the downturn. They are now competing with lots of bank repo’s..