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duh | Has anyone ever used one of those 'we pay cash for houses' programs, and is it a scam? I need to sell fast! |
Additional Details
I also do understand that I will have to sell for signigicantly less so that they can make a profit. I was just wondering if there is a way that this could be a scam.
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Jersey Boy
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I haven't used the "cash for houses" people, but I have heard of two ways to sell a house quick that have worked for people:
1) Set up a raffle - For example $1,000 per ticket and you sell 400 tickets to get $400,000. Write on the tickets that you must sell so many tickets to make the raffle valid or return the money. Check local and state laws on this and contact an attorney.
2) Estate Auction - You can set a minimum price and the house auction is one day. Contact a auction house for details.
Good luck. |
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doctor_wiggle
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whoa...
i am an investor and yes i do buy properties at a discount.
because that is what investing is...buying something "low" with the opportunity to sell at a later time.
i will be frank with this response.
you need to make sure that you are aware of what you are getting yourself into. make sure that you document every interaction with an investor and...have an attorney look over the contracts to be signed. every investor is human and by that i mean she/he may be subject to fraudulent practices.
scam...a scam is a act of deception...what is the deception with "we buy houses"?
what is questionable...is whether a Real Estate Agent can sell your house FAST. Or, whether or not a Real Estate Agent will be willing to work to sell the home once she/he knows you've already moved...because as a human, they are subject to varied behavior...remember, they aren't volunteers.
look, you listen to us...on this board...and you will not make a decision... its your butt in the hot seat...and you will have to deal with the outcome.
You call who you want...Real Estate Agent or "we buy houses"...nothing can be agreed upon without your signature-right! so don't sign anything unless you comfortable with the terms...ask questions and more questions...seek legal advice.
i mean that auction idea isn't bad...just realize that there will never be a perfect approach...this isn't a perfect situation. the approach will have to meet your need-that is important.
never make a decision uninformed and don't sign a darn thing if you are not comfortable with the outcome.
bye. |
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Bob
 |
Now that prices are declining, I would stay away from these people even more.
My guess is that they launder drug money through properties by offering the bare minimum such that the owner walks away with nothing. |
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biddixis1
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i did that program and its a scam, they find a broker for your open note or full mortgage. but the money is cut to sell fast and for the broker and buyer to make fast cash. you have to take a huge discount. |
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elltea
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i just sold my house to one got the asking prise for it, make sure you check them out first dont take there word on anything, an check with the better business breau. an anyone else you can think of most of them want to assume your morgage dont let them your name will still be on the property an you could be libal if someone gets hurt there so make sure your name is off of the property |
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akc1106
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It's a scam. If you need to sell fast, call an experienced agent in your area and ask them for suggestions to get the property sold ASAP, but don't call the "we pay cash" number unless you want to get ripped off. |
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cooperbry
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I don't think they're scams, just investors advertising that they'll buy your house for cash or terms. These people are looking for deals on homes. If they can't get a good deal, they just wont buy your house.
If you are expecting to be offered retail price from one of these people, forget it. They will offer you much less. Let's take an example:
Say your house is worth $100,000.00 and you have a $50,000.00 mortgage on it. They may offer you $55,000.00 plus take care of closing costs. This would leave you with $5,000.00 in your pocket.
Here's another way to look at it. If you call them up and ask them what they'd give you for your house and you don't like what they offer you, tell them to get lost. |
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a41xblj
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I guess it all depends on how you define scam... They'll actually pay you money for the house, but it will be far below what you'd get if the house if you sold it via an agent or to a regular customer by owner.
They pay cash for houses people, fix it up, and their goal will be to quickly sell it (and make money on the deal).
Using this option only makes sense if your house needs some work and you don't have the time / money / interest to do the work or have the work done yourself. Or if the house is in good shape, but you just have to sell it immediately and have had it on the market and no one would buy it. |
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world news
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that program is a scam! |
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Mikey D
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I have not used this but see it advertised all the time, especially when housing sales are down.
I imagine that they offer you a very low price so that they can at minimum break even and hopefully make money. Probably offer you 75-80% of what your house is presently worth.
Better to get an experienced realtor who works exclusively in your area of town and tell them you want to sell quick. They will come up with a price (which you will probably not like) that will sell the property quickly.
Good luck |
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john d
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You will have no trouble selling your home in a hurry however they will expect you to walk away from a lot of equity you can plan on kissing 10's of thousands of dollars of your value good bye. |
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Alterfemego
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what's the old saying? "if it's too good to be true, it probably is" You may want to rethink doing it. Think about this logically, if you were an investor who bought and sold properties, what price would be willing to pay to make a profit when you sold the home? Don't you always try to pay the very least you can for the most?
Yes, I'm a realtor i'm just giving you the best advise i can. I have no way of making any money from you. I just want you to make an informed decision. Good luck! |
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robert495713
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I have personal experience with these programs. They are real, but like some people have said, make sure you check out who you're dealing with. Depending on what area of the country you're in, I can refer you to some reputable companies. Email me with any further questions at robert495713@yahoo.com |
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