Anyone ever use or know someone that has used www.ameridream.org?

[UDT89]

Someone told me to check this company out......and after reading it i'm not sure about it, it seems too good to be true, so i was looking for input from people.

 

[Feldenak]

There has to be a catch. If it's too good to be true...

 

[UDT89]

yea but i cant find it.

the only thing was that you pay a fee. but even so its still not a lot of money.....but i think the seller has to pay the fee. but that can be worked around by me giving them the money.

 

[dwil]

A friend of mine started a company similar to this. Here is how he did it.
The Seller donates money to belong to a Downpayment Assistance program.
His home is grouped with other listings (not Real Estate Agent listings)

A buyer decides to use the Downpayment Assistance program, they are given $5k or whatever for their Downpayment from a pot of money.
The buyer can only get the $5k if he buys a home on the list. No list, no $5k.

The Seller will have to donate more than the $5k to be included. Fees and such, maybe $7,500.

The nice part is that the buyers are very motivated to buy a home on the list, no list-no $5k.
So is it worth it to donate to a place that brings you motivated buyers?
Is it worth the $5k to have your available home choices slimmed down?