Are You Leaving Money On The Table

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

Homeowners are getting those calls and letters.

 They start something like this:

“I want to buy your house for cash. There will be no commission, and you don't have to clean or paint or do anything. We will buy it AS-IS without inspections, without repairs, and a fast settlement."

 

as is

 

It is tempting to an uninformed homeowner, especially when there is no family around to advise and guide.

Several times a month, I will get a call from a homeowner asking my opinion on these calls and mailings.

 

In a fast market, people may be leaving substantial amounts of dollars on the table. The savings are stressed but not how much more they could sell their home in this market.

When it sounds too good to be true, take heed.

We find this happening to homeowners who have been in their houses for decades. They remember what they originally paid, and they are offered a number (multiple times their original purchase) that sounds good, especially with cash and no repairs. They are convinced it is a good deal and how much they are saving.

But how much may they be losing

 

Talk to a trusted professional.

Talk to your family!

Do you have any idea what homes are selling for in your neighborhood? Do you see additions, construction, or even demolition in your area. Are new homes going up replacing those existing ones?

And how much are they re-selling for?

Where are these new “buyers” from…maybe areas where prices are substantially higher. Your home looks like and may very well be a terrific bargain in comparison.

Please don’t be naive when it comes to selling. Who is really behind that two-page offer with lots of handwritten changes? Before you sign anything, get professional advice.

 

Want to know a fair price?

Then talk to a trusted professional. Find out if the offer is legit. Is there an unknown investor buying just for your land?

There is no fee to talk to a Realtor® and find out these answers.

It may be too good to be true.

 

Questions about selling your home…

call Margaret Rome

 

Comments (13)

James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Margaret.

So true, it winds up costing the owners so much money.  

Jul 14, 2021 01:00 AM
Margaret Rome Baltimore 410-530-2400

James Dray Yes it does!


 

Jul 14, 2021 07:58 PM
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

There is a rash of those kinds of offers floating about currently.  I regularly get robo-calls promoting them.  There are flyers in the mail, and posters on utility poles throughout the county.  There is usually a high price for selling in that manner.  It is always best to consult with a qualified professional.

Jul 14, 2021 01:52 AM
Margaret Rome Baltimore 410-530-2400

There are so many ways the offers are made to the public...and they all sound so good.

Jul 14, 2021 07:59 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

If something sounds too good to be true, it usually is. And yes, these deals often leave money on the table. Talking to a trusted real estate professional will help bring the real facts to light.

Jul 14, 2021 05:33 AM
Margaret Rome Baltimore 410-530-2400

Kat Palmiotti  So important to be talking to a trusted professional 

Jul 14, 2021 08:01 PM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

It is sad that people get taken advantage of these days for the sake of convenience and allow someone else to reap the benefits of selling their home.

Jul 14, 2021 05:36 AM
Margaret Rome Baltimore 410-530-2400

Hopefully Brian England  We can more people to NOT be taking advantage of.

Jul 14, 2021 08:02 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Margaret. These cash buyers work on a spread, the difference of what they pay, repair costs, holding costs and what they net from a sale. The "discount" to market value works in their favor, not the seller. Enjoy your day.

Jul 14, 2021 07:02 AM
Margaret Rome Baltimore 410-530-2400

Wayne Martin Have you written a post about this. I, for one, would like to read it.

Jul 14, 2021 08:03 PM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Margaret Rome Baltimore 410-530-2400 boy isn't that the case? Especially when some of them throw in fees reducing the price even further

Jul 14, 2021 07:04 AM
Margaret Rome Baltimore 410-530-2400

Rocky Dickerson It is happening with older and unsuspecting owners.

Jul 14, 2021 08:14 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Margaret - another good reminder that things that appear too good to be true need a bit more thought, a second(or third or even a fourth) look and further investigation.  A pause(and yes, a pondering moment plus a good self-talk session) about the advantages versus the disadvantages of any "proposal".  

Jul 14, 2021 07:32 AM
Margaret Rome Baltimore 410-530-2400

Michael Jacobs


Too good to be true..." A pause(and yes, a pondering moment plus a good self-talk session) about the advantages versus the disadvantages of any "proposal".  

Jul 14, 2021 08:16 PM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Margaret these deals may sound good on the surface, BUT these buyers are in it to make money, which means paying less than the true market value.

Jul 14, 2021 12:09 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

George Souto

They sound so good on the surface...And the speed they move is in the investor's favor.

Jul 14, 2021 08:19 PM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Margaret-it's always best to speak with someone who knows the local market. Why leave money on the table!!

Jul 15, 2021 12:41 PM
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

It is sad how many home owners get sucked into these easy peasy deals and never realize how much money they left on the table.

Jul 17, 2021 01:28 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Kathy Streib So true. Talk to someone who knows the market!

Jul 17, 2021 06:57 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Chris Ann Cleland 

And by the time they realize how much it has cost them...it is already too late to do anything.

Jul 17, 2021 06:58 PM