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Fast Home Buyers |
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are the "fast home buyers" companies reputable? How do they work? I am in divorce proceedings and we will be selling the property and a fast sell will be needed.
Thank you |
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They may well be reputable--just read every word before you sign anything and make sure your present mortgage is paid off before you sign over the house. But they must buy at wholesale. They hope to re-sell your place at market value, and meanwhile they have expenses for property taxes, insurance, utilities, maintenance, possibly commissions or salaries. Add in lost income from the money they pay you, an allowance for unexpected problems, and something for profit -- else why do it in the first place. You can see why they have to offer you a steep discount from true market value. This can be valuable to someone who does have to sell immediately, but if you can wait just a few months, you will do much better on the open market. For a fast sale give your house a doll-up, put it in the hands of an experienced broker, and list it a bit below the low end of the broker's suggested price. You'll come out much better that way. |
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Edith Originally published on August 19, 2007 |
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