"We buy houses" Has anyone sold their house using this type of program.

[KK]

You see these ads for companies that buy houses and then resell them. Has anybody had any experience with them. If I owned around a $150,000 house, what would one except to recieve for the house? If we were to sell using a agent they would get 6%, plus you'd have to worry about fixing every little thing, or give allowances for carpet, painting and such.

Anyone?

 

[SweetSweetLeroyBrown]

from what I have heard, those companies really lowball owners...But I have never tried it so I could be wrong

 

[KK]

Originally posted by: SweetSweetLeroyBrown
from what I have heard, those companies really lowball owners...But I have never tried it so I could be wrong

That's what I would think too, but if it's within 10% to 15% it may be worth it to skip the hassle of selling.

KK

 

[SweetSweetLeroyBrown]

well you could try ziprealty.com...they only charged me 3%...but I had to negotiate with them and my house was in a very hot market (West LA)

 

[T2T III]

Originally posted by: KK
You see these ads for companies that buy houses and then resell them. Has anybody had any experience with them. If I owned around a $150,000 house, what would one except to recieve for the house? If we were to sell using a agent they would get 6%, plus you'd have to worry about fixing every little thing, or give allowances for carpet, painting and such.

Anyone?

Just because the commision rate is advertised @ 6% or 7%, it doesn't mean that you'll end up paying that amount. You can negotiate the rate down a bit. However, if an agency is a 6% agency, I wouldn't expect them to go down to far - (e.g. 3%) - I think they might go down a percent, but not much more than that.

Edit: Maybe you could find a service like this where you live: Save6 Realty

 

[Blieb]

bwahahhaaha, dude, call one of those signs ... they'll offer you like 50% value ...

 

[KK]

Originally posted by: Blieb
bwahahhaaha, dude, call one of those signs ... they'll offer you like 50% value ...

Is it really that low? Why I ask is because my wife went and looked at a house awhile ago and the owner was into the realestate business, builder I think, but my wife said that he would purchase our house and sell it. From my wife I was under the impression that it wouldn't be a bad deal. He didn't give any exact figures and we didn't pursue the house because I didn't like that it had no basement. Ever since I been wondering about these programs.

KK

 

[StageLeft]

Aren't they for people who have basically fvcked their finances?

 

[Sluggo]

Originally posted by: KK

Originally posted by: Blieb
bwahahhaaha, dude, call one of those signs ... they'll offer you like 50% value ...

Is it really that low? Why I ask is because my wife went and looked at a house awhile ago and the owner was into the realestate business, builder I think, but my wife said that he would purchase our house and sell it. From my wife I was under the impression that it wouldn't be a bad deal. He didn't give any exact figures and we didn't pursue the house because I didn't like that it had no basement. Ever since I been wondering about these programs.

KK

Some builders have a trade-in program. Its going to be like trading a car in, you wont get the full value, but you will not have the hassle of selling it yourself. The builder may add it to his rental properties, or try to sell it and make his money back.

As a matter of fact it is just like trading a car in. You may not get as big of a discount on a new house, and get a reduced value for yours. But, you get the closing dates on the same day, no moving twice if the new house isnt ready or something, and no hassle of having your house shown by a realtor.

The "we buy houses" guys will really lowball you, and for the most part they buy houses that are "cosmetically challenged" or houses that have some major issues such as foundation work or something. They hope to get the house cheap enough to rehab it and re-sell it and still make some cash to pocket.

 

[flot]

Wow, you must be remarkably lazy to not care about $10,000-15,000. Sell your house with a realtor. There are any number of lower commisison outfits out there. I don't know if they have a branch near you, but my parents are realtors in FL with www.assist2sell.com - they list your house for a flat rate of $3000 if you choose not to go into the mls, or somewhere around 2-4.5% if you list in the mls. And of course, you don't pay anything out of your own pocket, all the funds to the realtor get paid to them at your closing.

For the seller there is just NOT that much work involved...

 

[KK]

Originally posted by: flot
Wow, you must be remarkably lazy to not care about $10,000-15,000. Sell your house with a realtor. There are any number of lower commisison outfits out there. I don't know if they have a branch near you, but my parents are realtors in FL with www.assist2sell.com - they list your house for a flat rate of $3000 if you choose not to go into the mls, or somewhere around 2-4.5% if you list in the mls. And of course, you don't pay anything out of your own pocket, all the funds to the realtor get paid to them at your closing.

For the seller there is just NOT that much work involved...

Lazy, I guess you could say that. I don't like the idea of having to go through the process of trying to sell the house. You know, keeping the house showable every day just incase someone wants to view it. Plus if we happen to find a house that we like and buy before getting out from under our current mortgage, we'd be making 2 mortgage payments.

I wasn't under the impression that the commission was flexible prior to the thread. 3-4% would seem acceptable but 6% seems too high.

KK

 

[db]

Not sure about *everywhere* in SoCal, but many houses sell for more than the asked-for price, b/c of competition from buyers.
I always thought that the "We buy houses" people were for sellers in a "situation", ie no time or money to fix up house.
If you don't know what your house should be selling for, you will get screwed for sure.