Someone is happy…who will it be?
Internet buyers have been around earnestly for the last several years. Generally they are opportunistic individuals or corporations who have (or had) money to bail out the vulnerable home sellers. Like everything there are two sides to every story. One one hand they have the money to bail you out of potentially a bad situation and can save you time, money, frustration, divorce, high blood pressure to start.
BUT…There’s always a but. Do you think they are doing that out of the goodness of their hearts or is it a business model that needs to profit in succeed? It might be both and that’s ok! There’s the promise of giving you fair market value for the house…GREAT! But who determined the fair market value? if the person giving you the offer, did I wouldn’t think of accepting their offer without 1-4 other value proposals.
Below is a snapshot with most pertinent details removed. But internet buyer who bailed someone out purchased the home for $198,000, and sold it one month later for $228,000. It is unlikely they did anything to make the home worth $30,000 in one month. I think whoever sold it for $198,000 could have used the extra $30,000. Perhaps had they had some advice or counseling that they made a great deal. Perhaps, they were suckered into the deal with a fast talking salesman and a bag of money… Just look before you leap. Talk to a local real estate agent-or 3 to make sure you really are getting the better deal. And guess what? It is on the market today, 5 months later for $450,000 but nicely fixed up!
One thing I like to do is show the home seller how they can be their own “flipper”. Most times they can make money on a small investment of time and money improving the house ,and selling it through a real estate agent who knows what they are doing. A plumber once told me do you want it fixed fast-good and cheap? You can have one of the three but not all three!
