Question by nursegoodbodyandmind: I need to get rid of my home quick. Has anyone ever done business with one of those “We Buy Houses” companies?
WE have good credit and the payments are up to date, if that matters.
I’m living in a different state than the house I want to sell. It has been on the market for almost a year. I want to purchase a new home in the state where I’m living. I’m paying the bills and putting savings in the bank. This isn’t a credit issue. This is a geography issue.
The home appraised for K over what I owe last year.
This isn’t a situation where I MUST get rid of it. I just want some of my equity back so I can get a home in the state where my hus is working.
If they low-ball me, I’ll walk away from the deal.
Best answer:
Answer by Alice
I would assume that you would be making a mistake going through an outfit like that.
Here are some particularly good tips:
• Don’t fall for promises like “We’ll save your credit”; “We’ll buy your house ‘as is’”; or “We’ll get you a new mortgage with low monthly payments.”
• Don’t sign away ownership of your property (sometimes called a “quit claim deed”) to anyone without the advice of lawyer you trust. “When people get behind on their loan payments, they get a bit desperate, but the answer is not putting someone else on your title,” says Oakland real-estate attorney James Hand.
• Beware of any home sale contract where you aren’t formally released from liability for your mortgage. Also, make sure you know what rights you’re giving up and that you agree to giving them up.
From http://realestate.msn.com/article.aspx?cp-documentid=13107743
Here is some additional info on scammers who use this approach:
http://www.housebuyernetwork.com/resources/advice/HowToAvoidWeBuyHousesScams.htm
Contact a real estate agent whose signs you have seen in your neighborhood and get their advice for a quick sale.
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