Is there an example of the advertising these ebuyers are putting out? I’m not familiar with these ads? Who are these companies? Names?
Here’s a real life example. Elder mom passed away in Maine. Kids live in N.C., Wisconsin and Idaho. They want the house sold so they can settle the estate and get their inheritance–FAST. For them its “found money” which they want ASAP. So they contact an e-broker and presto, the estate gets a check for the net proceeds in 2 or 3 weeks. No home inspections, financing contingencies or repairs to be made. When its “found money” many folks will exchange 20% of the sale price for a one and done. Go figure?
Yes I know for a fact that Offer Pad charges 9% plus and they offer at least $10,000 less for a property. I sold my clients house to an investor and got her $15,000 more than their offer and she never had to show her home. I charged a 4% commission and split it equally with the investors agent. No one has to get screwed when selling a home!
Just another example of the dumbing down of America.
There have always been people out there who are willing to take less money now than more money later. This has been going on in housing forever. The magic number seems to always be 20% under market to make a profit for the investor. The only difference is now, it has been institutionalized. I’ve dealt with a few sellers who were taking the Quick Cash offer and it’s difficult (impossible) to talk them out of it. It’s very emotional in most situations and they just want a quick close. God Bless America.
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