“We’ll Sell Your Home or We’ll Buy It Ourselves”
Who wouldn’t want to have this assurance that their home will be sold? If you are attracted to this type of service, make sure you read all the details. All homeowners should be interested in how these type of services are offered because most end up not actually having to buy 99+% of the homes in their programs. How are they so successful in selling a home??
Let’s look at one of these services that is currently being offered by a Brokerage. Their program does the following:
1) Makes the homeowner get the home in move-in condition, plus get a home inspection and fix what needs to be before the home goes on the market. This makes perfect sense. Having a home ready for move-in will make it show better and prevent any unpleasant surprises when the inspections are done.
2) Price the home right.
The service requires the Seller to pay for an appraisal. Then, the home has to be priced within 5% of the appraisal. This particular Brokerage’s program has set times when price reductions will happen over the 6 month period the Brokerage has to sell the home. Any valid offer within 5% of the current asking price must be accepted by the Seller.
If the home isn’t sold within 6 months, the Brokergage will pay 10% lower than what the home was appraised at.
The better description of this service should be
“We’ll Sell Your Home or We’ll Buy It Ourselves (at 10% lower than the appraised price)”
With the price appreciations in the area, an appraisal that was done 6 months ago is probably well under the market price already!