You may have seen the ads..."IF I CAN'T SELL YOUR HOME, I'LL BUY IT!" It sounds like a great offer and certainly worth checking out, right? Well, most ads that sound TOO GOOD TO BE TRUE, usually are. This sell line is used to get their foot into the door (and your living room) and then lay out the many strings that are attached to this.
Here's a basic scenario and rules for this program:
1. YOU MUST BUY ONE OF THE AGENTS OTHER LISTINGS: Odds are you probably won't want to buy one of his/her litsings. Most agents carry 3-12 listings. You have to buy one of these homes to qualify.
2. THE "GUARANTEED PRICE" WILL BE PRE-DETERMINED: The "Guaranteed price" may be much lower than what you want for it. You may list it to the general market for $425,000, but the price that is "Guaranteed" may be significantly less. This Guaranteed price will be put in writing.
3. GUARANTEE PROGRAM FEE: Once you agree on a price (above), there will be a FIVE PERCENT GUARANTEED SALE "FEE" which will come off the (low) price that you agreed upon! This nets you 5% less than even the agreed upon price.
4. MAXIMUM ALLOWED PRICE: Many times, they will not take a house priced over $300,000.
As I mentioned, this attrtactive sell line gets them into many homes to lay out the GUARANTEED PLAN. Most home sellers don't go for it, once they see the details, but they go ahead and list under a normal agrement.
If you have any questions please feel free to contact me.