J.M.: Ever sold your house though those signs that say “we buy houses” or similar?
I see those signs around that say “We buy houses.” I assume these are real estate “flippers” who want to buy houses to turn around and sell for a profit. My house is only 3 years old, not a fixer upper. It seems like it might be a good idea to sell directly to an investor rather than going through an agent, especially since I have two dogs and a baby in the house. Does anyone have any experience or information to share?
Answers and Views:
Answer by JuJitsu_Fan
off the top of my head i would say that you would automatically get less from these folks. your premise is correct that they tend to be investors, but in order for them to make money they have to shave it somewhere else. it’s the old saying, “Buy Low, Sell High.” Translation, screw you out of 5-10%, if not more, off the price of your house. the open market would get you a bit more money, even less the realtor commissions.
Yeah..they are looking for desperate homeowners or the run down house in an area of nicer homes.
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Answer by homesbydamon5-10% below market value??? Try 20-30% in many cases!
Their goal is to buy for as low as possible, whereas an agent wants to get you as much as possible. Good luck!
Answer by robert495713I know a bunch of investors that put out those signs. If you are willing to sell at a 30% or more discount, you are better off trying to sell it yourself. Price it a little below market, and it should sell pretty quickly.Answer by satarnag
You’re right. I am an investor and I buy houses using the methods you see. The goal is to get 70% (or 15% in Southern California) of the fair market value. If you’re facing a foreclosure or need a fast escrow, it’s the best method, especially in a downward market. Otherwise, I would just list it with an agent.
Regards
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