Have you seen those “We Buy Houses” signs on utility poles?
They’re intended to snare unwitting homeowners who think they can sell their home quickly without a Realtor®.
The people behind those signs prey on unknowledgeable homeowners who are often facing financial challenges.
If you call the number on the sign, realize that you will be dealing with someone who knows far more about real estate than you do.
Those buyers are shrewd deal-makers and your best interests are not their best interests.
Their motivation is to take advantage of your desire for a fast sale and make a huge profit in the process.
When It Sounds Too Good To Be True . . .
They’re going to deduct all ordinary sales costs as part of the deal, including commissions, closing costs, fix-up costs, and carrying costs.
Then, they’re going to build in a substantial profit for themselves.
Perhaps those signs should say “We Buy Houses At Deep Discounts”?
You may avoid paying a commission, but the cost of the commission will be deducted from the offering price.
The bottom line is that you’re essentially paying a commission while not having a skilled, experienced Realtor® representing your best interests.
If the offer is indeed legitimate, and the buyer is actually able to perform, you may end up with a closed sale, but you must be careful.
Beware Of The Fine Print
Never sign over the title to your home to anyone without using a title/escrow company and ensuring that everything is done correctly.
Above all, make sure that all encumbrances against your property are paid off at closing.
Understand that simply deeding your home over to someone else will not relieve you of your mortgage debt and other obligations.
Tempted to consider one of those deals?
Call me at (208)938-5533, or e-mail me before you sign anything!
It’s a free call and it’s likely that I will help you avoid a nightmare experience.