Should I Sell my house to companies that buy houses for cash

By
Real Estate Agent with Berkshire Hathaway HomeServices Florida Network Realty


So, hey, you get those cards in the mail, I get them in the mail and I'm a real estate agent. Those cards that say, "I'll buy your house for cash, give you a fair offer. You can move in your own timeline. Don't have to deal with repairs. Don't have to deal with showings." This is one of those homes. Someone fell for it. Now listen, the company, I won't mention the name because I can't, if the company paid $140,000 for this house, they charged the seller a fee. They deducted for what they deemed, repairs and then they closed on this for 140 grand. They took it and turned right back around. Didn't do anything to it, but maybe mow the grass. They listed it. It's for sale now for 170,000. That's at least $30,000 with the equity that this seller lost. I don't know why you wouldn't just hire a real estate agent like me to get you market value.

They are going to sell this for market value and take that seller's or owner's equity. I know what you're saying. Well, a real estate agent does the same thing. No, we don't. I would have charged these people 6% on $170,000. That is not a lot of money compared to the equity that they lost, at least $30,000. Then you take away the service fees and the repairs, that's a lot of money. Don't do that.

Before you do that, if you get those offers in the mail and you're serious about selling, at least talk to a real estate agent, like me, to see what your options are and see how much money you're going to leave on the table. It's not that bad to go the traditional way. It's just as easy, just takes a little bit more effort but it pays off in the end. My name is Mike Jones, Jacksonville's Voice of Real Estate, thank you for watching.

 

Mike & Cindy Jones, Jacksonville Real Estate Agents
904 874-0422
MikeAndCindyJones.com

Berkshire Hathaway HomeServices Florida Network Realty

Comments (1)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

A REALTOR friend of mine and I were perusing the MLS, and discovered at least 200 houses for sale by these "buy-out" companies.

Sep 01, 2021 09:55 AM