AVOID “SELL YOUR HOUSE FOR CASH” GIMMICKS
In Part 2 of the How To Sell Your Home Series I’m highlighting the falsehoods of “sell your house for cash” and the “no cost to you” advertisements we’ve all seen time and time again. Let me be clear, there IS a cost. While these flashy ads may be enticing, it’s very important to understand the underlying implications of working with a company who wants to buy your home quickly.
Typically, these advertisements are directed to the following demographic:
- Over the age of 60.
- Someone with a significant amount of equity in their home (50% or more)
- They’ve owned their home for over 30 years.
These three things make the owner, estate, trust or entity, a target for real estate investors and wholesalers. What are investors and wholesalers? An investor is someone who typically buys real estate and uses that property as a long or short term investment. Investors often target distressed homes to buy at a discount rate (usually with cash) to then renovate the home and resell the home at a much higher value. Wholesalers are not your traditional real estate investors. A wholesaler will buy your home without using a Realtor and while under contract, the wholesaler sells the home to a new buyer who pays a market value (what you SHOULD be selling your home for). Wholesalers prey on homeowners who do not know the true value of their property.
HOW TO PREVENT FALLING PREY TO SCAMS
Maybe you aren’t in the demographic of the target market, but you may have a loved one or neighbor that is. It’s important to know that these “sell your house for cash” gimmicks do not benefit the homeowner. To know the true value of a home, get the opinion of multiple, local, Realtors. A Realtor is your advocate. When hired, one of their many core roles is to sell your home for market value. If you want to sell your home off-market without a real estate agent, we encourage you to work with an attorney that can be sure the real estate contract is not harmful to you.
Lastly, but certainly not least, we all go through life. And sometimes life is messy! If you feel that selling your distressed home for cash is “easier,” that is still not a reason to fall prey to the gimmicks. Work with a local realtor that knows you, your situation, your home and neighborhood. It will definitely pay off in the long run. Check out all of my Seller Resources here!
Interested in learning more? Call/Text REALTOR Jenny Wetzel (253) 981-9788 or email firstname.lastname@example.org
Watch all the How To Sell Your Home videos HERE!