Quote:
Originally Posted by MrCallahan
Reaching out to the CP brain trust to see how others have approached this.
I just bought a new home, and have now placed my existing home on the market (feels like a crazy time to do this! but we found the home we wanted). Not in a huge panic for it sell right now, but ideally the less time on the market, the better. Also reduces the amount of time I might be carrying two mortgages.
My Realtor listed it last weekend, had a few viewings, no bites yet. I expect this, and I imagine it'll take a little while. But I wanted to explore other options as well. Which my Realtor may not appreciate, but I want to understand more avenues that can be taken in the event this takes a while.
Has anyone ever used those "Cash for houses" businesses to sell their homes (like propertyoptions.ca and myhomeoptions.ca)? I know these are investors usually following their Rich Dad Poor Dad training. But I'm interested to see if anyone has any actual experience dealing with them? I know they'll low-ball the offer, saying you'll end up with a similar cash amount in the end, because with a Realtor they'll take their cut with the fees. For those that have dealt with them, was it worth it? waste of time? are they slimy to deal with? I feel like these guys may prefer to deal with folks that are in dire need to sell, so they can capitalize on low offers. I'm kind of curious to reach out to see what they would offer, but also don't want to waste too much time if they are as sketchy as it appears (at least that's my initial impression).
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100% those are scams, or targeted at people who are desperate. I happened looked at one back in 2009 when selling a house. The house was valued around $380k by a realtor, their offer was $200k, which didn't even cover my mortgage. Their next question was how much is my mortgage, I told them $290k. And magically that was their "new offer" Which was still insultingly low and obviously aimed at people that were going to lose their house to foreclosure.
I'm not sure about deals like the one that you always hear about from justin havre where he buys your house if it doesn't sell in 90 days, but im guessing the offer is well below market price.