Has anyone sold their home to “fast home offer.com”? Did they offer some rediculous amt or was it worth it?
We are in the process of looking into auctioning our home. (not in forclosure)but on the market for 2.5 years. Just wondering if fasthomeoffers.com would work better or is this just a scam?
Quick House Sale
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it’s not a scam, but you won;t get anywhere near market value – probably less than you owe on it- it’s more for people who have no debt on the house and want to get rid of it quick at any price
I am not familiar with that website, but here is some background info that may make their offers understandable.
To make an acceptible profit, investors don’t want to pay more than 65-70% of retail price for your house (depending on condition, repairs, etc). This lowball price allows them adequate flexibility to either rent your place back to you (the rent you pay will be enough to more than cover their mortgage payment) or sell it at a decent profit.
I have been in a position on both ends of this spectrum. I lost a rental house in 2001 after a layoff, and now I actively seek out good deals (such as in the 65-70% range).
Best of luck!
They usually offer about 50% of what the place is worth.
It is not a scam, but they make their money by reselling the property. You can expect about 60% of the appraised value.
It is about the same amount you would get by auctioning it.