jesoki589 asked:
i need to sell my home but no one is interested. It is not my home alone, but the whole area due to the loan issues.
I gotta sell this house fast because I am losing money due to the drop in prices.
so i was just wondering if you could trust those organizations that claim that they will buy your home without any gimmicks.
are these true and if they are, which ones would people who have used them recommend?
5 Comments on “can you trust the “we buy your homes!” ads?”
Sell Home Fast 10th August 2009 6:13 am
Sell By Owner
Sure. They’ll buy your home — and pay you about HALF of what it’s worth — which means you’ll still be on the hook for the remainder of the mortgage.
Sell Home Fast 12th August 2009 4:58 pm
Buy Home Bad Credit
We looked into these places about a year ago when we could not sell our house. Yes,They will buy your home, they want to know what you owe on it and that’s what they will pay for it, nothing more (and maybe less), so you will leave with no equity. You are much better off dropping the price and trying to come out with at lease a bit of equity in the deal. These places are looking for desperate people. We did not sell to any of them…
Buy Home Bad Credit 14th August 2009 1:39 am
Buy Home No Credit
I don’t have alot of experience with this, but we are trying to sell our home right now. We had someone from one of those “we buy homes” companies call us and offer us $10,000 less than what we have it listed for. Of course, for us that isn’t possible. We have to have enough to pay off our mortgage. They did say it would be a cash payment, which could be a plus…. no closing costs etc.
So, if you don’t have a big mortgage on the home, or could handle that big of a decrease of selling price, it might be worth looking into.
sell+home+fast 15th August 2009 12:17 am
Sell Your Own Home
Yeah, they will give you pennies on the dollar of what it is worth even in the current market if they are legit. Many are trying to wholesale property. This means they try to negotiate a ridiculously low price as if they will buy it and then they will try to find someone who will pay more than they offered to stand in their place to buy you out. They make a couple grand on the spread.
Watch out for options, assignable contracts, subject to offers (meaning they want you to give them terms and keep your financing in place. This will violate your due on sale clause and possibly cause the lender to call the loan and if you are not on title anymore you can’t even sell the property let alone refinance it).
If it sounds too good to be true, it is.
sell+home+fast 15th August 2009 12:08 pm
Buy Home No Credit
Some are legit. Some are come-ons.
Check w/ your Better Business Bureau if you are in N Amercia. Research the specific ones by name in your area.
Sláinte