Whats the deal with them are they legit and I heard they only pay 70-80% of market value for ur home is this true?
It is closer to 60% of FMV, I have never heard of one as high as 70%. They would have to be complete idiots to pay that much in this market, it would be a poor investment.
The companies are legit, they pay cash and can close within a week. That is assuming you can legally sell at 60%.
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Monday, April 13th, 2009 at 8:12 pm
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April 12th, 2009 at 9:36 am
they usually are investors looking to do quick flips on contracts for homes with investors willing to pay the for the paper on your home that is why they try and tie up the property with a cheap offer they know it will sell to their investor for a tidy sum and they walk away without ever actually purchasing a thing and the numbers youll hear are very very low
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April 12th, 2009 at 9:37 am
they are in it to make money they will pay you the least possible to maximize their bottom line, dont do it unless ur really in a bind u will lose too much
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April 12th, 2009 at 9:40 am
It is closer to 60% of FMV, I have never heard of one as high as 70%. They would have to be complete idiots to pay that much in this market, it would be a poor investment.
The companies are legit, they pay cash and can close within a week. That is assuming you can legally sell at 60%.
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April 12th, 2009 at 9:47 am
It is a business. They are in it to make money. Yes, they can buy your house, but at a cut rate price. In some instances, it is much better than having your home foreclosed on.
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April 12th, 2009 at 11:10 am
Yes, they are legit (well, most of them). But, as other people have said, they will usually only pay about 65% of fair market value.
If you are in a bind to sell a house, you should check out selling by lease-to-own. Usually you can not only sell your home for the fair market value, but you can get someone that will pay the mortgage plus extra during the lease period. It can be a win-win situation for you and the potential buyer. You will have someone potentially buy your house, be able to pay the mortgage, get a non-refundable option fee (it would go towards the purchase if they used their option) and have someone taking care of the property (mowing, fixing small things, etc.). The person buying would have time to fix their credit, show proof to a mortgage lender that they paid on-time, get to lock in the current market value of the home, etc.
In my opinion this second option is much better for you.
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