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These cash offers are hope flippers, they lowball the offer then come do an inspection and deduct a bunch of "upgrades" not just repairs. Its a quick sale, expect well under market value so they can turn around and market it on the MLS later at market value. Or you could hire an agent yourself and allow for the normal time to sell.
These cash offers are hope flippers, they lowball the offer then come do an inspection and deduct a bunch of "upgrades" not just repairs. Its a quick sale, expect well under market value so they can turn around and market it on the MLS later at market value. Or you could hire an agent yourself and allow for the normal time to sell.
First you should decide how you are going to sell, as-is or sell with some repairs and upgrades? Also if you are ready to move sometimes it's best to take the money and run. Cut carrying costs, potential repairs and be done with it.
That being said those offers are common. Go back to them a week or two later say you might sign if the price is right they might up the price. They are convenience to many and a few actually have competitive offers, many will low ball the customer buy at wholesale prices and resell to a flipper at retail so to speak.
Also the current events make the future market a wild card. My guess the backlog of listings, sales will create a short spike in sales but after the back logue(promoted prior to virus) any new listings will probably start to suffer in some but not all areas.
Remember the shut down has left many carrying a home longer than they wanted and losing down payment money are their next home. Meaning many throw the house on the market to sell quickly.
Dunno how it is in Buchanan Dam Texas, but here, we get solicitations almost bi-weekly. Some of them are tear jerker stories. The last one was a family looking for their "perfect house." (Which, ironically, is YOURS!)
Guy is a Naval aviator with wife and 2.3 kids. They even send a family portrait of some family in the trees, with kids joyfully playing in the frame.
It just never ends. "Pay top dollar..."
The "sell it fast to me" people offer 70 cents on the dollar.
Last edited by NORTY FLATZ; 08-11-2020 at 10:15 AM..
Reason: added stuff, ya know?
I like the way they type in the "fake handwriting" font thinking you'll be fooled into thinking a real person wrote that postcard. You know, the one that I got last week, and the week before that, and the week before that...
I like the way they type in the "fake handwriting" font thinking you'll be fooled into thinking a real person wrote that postcard. You know, the one that I got last week, and the week before that, and the week before that...
LOL exactly.
I also sometimes call these people back (with a anonymous #), and say "since you're so interested in buying my house, I need you to pay me $1,000 in advance for my time to talk about selling my house to you"... click....
If they were so desperate to buy my house for cash, they should be able to put up at least $1k for the privilege of taking my time to discuss it.
I also sometimes call these people back (with a anonymous #), and say "since you're so interested in buying my house, I need you to pay me $1,000 in advance for my time to talk about selling my house to you"... click....
Even better if you call them on their toll free number...
Sadly, 90% of these letters come from suckers of get rich quick promoted on scammer sites like bigger pocketes, the Amway of real estate. They pay for a list of addresses and for the preparation of the "hand written" yellow letters. They maybe pay for a class, book, mentor that tells them to offer 70% of the market price less estimated repair costs. They burn out quick with lack of results but are quickly replaced with another sucker.
A quick, all cash sale is always going to be for less money than a sale that involves a mortgage.
Absolutely not true. In many markets right now the demand is so high that people are making all cash offers above asking price.
We've received a few of those letters for our house. We laugh.The biggest joke was the contract for about 20% of what we paid for our extra acreage 20 years ago. It was less than 10% of the current value. All we had to do was sign and they'd take care of everything. haha
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