Dunno, but in this market where I've heard people are offering 100k+ over asking in this area, a lowball quick cash offer may not be the most profitable.
From the google, found a review of what goes on behind cash offers, and a nice pro/con list of going that route:
R.E. commission is probably gonna cost you about $30k. That's a lot. A good agent at the same house will get you 30 to 40K increase above the asking price.... but that depends on how accurate the agent/sales rep's guesstimate of the asking price should be.
So...
I suggest you begin by hiring a LICENSED real estate appraiser.
R.E. sales reps will usually tell you to spend 20 or 30K --- paint the place gray or white and so forth.
My friends sold their house in February, due to illness. Two years ago, they painted the house to yellow exterior. It looked warn and nice. Agent tells them to re-paint the place to gray. "Millenials want neutral colors." Paint all the interior walls to bone white. They were talked into hiring some dilwad to interior decorate to the style of Impoverished Contemporary Swede. (Think painted cardboard box with windows.)
I told them Millenials are on the balls of their ****, paying off student loans and can't afford your house. but they did this stuff anyway.
This was followed by the usual bidding war for a higher end Summit house.
When it was over, they sold it for $60k over the asking price.... but the questions are, was the asking price accurate in the first place? Would it have sold for the same price without the changes?
Now we go to my step daughter's sale this month. House was put up for sale in Manahawken, March of this year. Not one nail nor even an ounce of spray paint or magic marker was put onto the property. Bidding war followed -- three bids. House sold for $32k over asking price.
The moral of this story is, You get what you pay for. (In this case, I charged you nothing.)
or --- What it comes down to, is a half dozen of one or 5 of the other.
And finally, if you move, you are still required to post on this board.
A real estate friend of ours says that in this current market, people are including things in their offers like skipping the home inspection to be more attractive to the seller. So, if you feel your house wouldn't be in good enough condition to sell, this actually might be the perfect time to find a buyer!
from what I know, cash for houses gives you a low offer.....its good if it's something like an estate sale or something in bad condition and you just want to dump it. if its a decent house, you will make more even after paying a realtor......even with a knock down, you might still come out ahead using a realtor.
From reading the link, while there are some 'scams' to worry about (if they are not legit) it's more that these cash buyers are very very good at getting people to take extremely low-ball offers (and maybe getting the seller to pay more closing costs, taxes, etc. than they would otherwise).
One person indicated that they were still living in the house while the "buy your house for cash" person had a crew come in and do work on the house. But the seller had not yet received money for the house. Seems like a setup for some type of scam.
If you deal with a cash-for-house enterprise, consider video recording your face to face interactions. For later use, such as in a documentary.
JJ estimated real estate commission would be about $30K. Your average plain old mapso house is now a million dollar house.
I wonder how hard real estate agents are working for the property owner’s business. Considering it’s like shooting fish in a barrel. Good work, for sure, if you can get it.
i know a few situations where the home owner just wanted to dump the property and didn't want the hassle...and wasn't concerned about the money or getting a good price....for those people cash for houses is good.
i know a few situations where the home owner just wanted to dump the property and didn't want the hassle...and wasn't concerned about the money or getting a good price....for those people cash for houses is good.
I'm kind of in that position.
I mean, I don't want to get reamed, but I'm willing to not get the best absolute price.
i know a few situations where the home owner just wanted to dump the property and didn't want the hassle...and wasn't concerned about the money or getting a good price....for those people cash for houses is good.
I'm kind of in that position.
I mean, I don't want to get reamed, but I'm willing to not get the best absolute price.
I sold my house without a realtor to a neighbor's friend. I got a good price, but not the top price, but I didn't do all the work I intended to before I listed it. I think both of us got a fair deal. I had a good attorney and I was very lucky with the buyer. I am so glad it went to them.
i know a few situations where the home owner just wanted to dump the property and didn't want the hassle...and wasn't concerned about the money or getting a good price....for those people cash for houses is good.
I'm kind of in that position.
I mean, I don't want to get reamed, but I'm willing to not get the best absolute price.
If you have an old oil tank in the ground, selling to a cash buyer could be advisable.
You could test the water by going For sale by owner. List it on a site like Zillow. Any realtor will give you an idea of the comps in the area with the hope of eventually getting the listing. Or go on Zillow and see what seems comparable.
I worked in real estate for years and once realtor. com came on the scene I suggested things would change drastically and they did.
Some realtors will offer to bring you a buyer if you are a FSBO and you just pay the sales commission without paying an agent to list it. Once you go FSBO agents will contact you anyway.
Often a buyer or agent will consider what the property is assessed at. All of that is public record so lots to factor in.
I mean, I don't want to get reamed, but I'm willing to not get the best absolute price.
Then why would you want to avoid going with a realtor or the FSBO route? The advantage, if any, of going the cash for houses route would be to make a quick sale that is going to be for less than you would get if you went FSBO or through a realtor. If you don't want to go through the hassle of preparing your house for sale, consider selling the house "as is" and let the buyer make whatever repairs and design changes they see fit.
I mean, I don't want to get reamed, but I'm willing to not get the best absolute price.
Then why would you want to avoid going with a realtor or the FSBO route? The advantage, if any, of going the cash for houses route would be to make a quick sale that is going to be for less than you would get if you went FSBO or through a realtor. If you don't want to go through the hassle of preparing your house for sale, consider selling the house "as is" and let the buyer make whatever repairs and design changes they see fit.
The "why" is personal, but has to do with a recalcitrant ex-wife who lives in the house. I'll leave it at that.
Recommendations?
Warnings?