by Ken Richter
on Friday, August 16th, 2019 at 4:04pm.
We know you have seen the ads. Billboards proclaim 'WE WILL BUY YOUR HOME!' or 'Home Not Selling? Let us Buy!' These renegade real estate companies promise that if your home does not sell within a set number of days, they will buy it from you. It sounds like a good deal, but it really does not benefit you unless it is absolutely essential you be rid of your property right away. Here is why:
Typically the contracts for these deals state that the company will list your home for an agreed upon price for an agreed upon time. If your home does not sell within that amount of time, they will buy it from you for a different price. As previously mentioned, if it is crucial that you sell your home in the next sixty days these types of deals can be a last case scenario. However, they really negatively impact you in two major ways:
1. The company will not buy your home for what it is worth.You will likely be low-balled, and you definitely will not get top dollar. This is especially true if you happen to list during a downturn in the market. You never know; waiting that extra month could make thousands of more dollars in profit.
2. Because the company knows they will be able to buy your home for less than it's worth, it won't leave them particularly motivated to sell your home. Why put in the extra effort to sell it and make a small commission when they can make a much bigger one selling it off for what it's actually worth when the timing is right?
Overall, 'we buy homes' systems do not benefit you. You need someone like Ken Richter, an experienced real estate professional who will put in the time, effort and care required to get your home sold for top dollar.
Ready to make your move? Contact him today at 403-630-6363!