We are thinking about selling our home to shorten the commute to work. The issue is that we are looking at the end of our 5 year ARM in March 2008. We are not in financial distress or anything and we have excellent credit. We were first time buyers and went with the ARM for the lower payment and thinking we would move in 5 years

So now, it's either sell or refinance before March. I REALLY want to move due to my long commute. But the thought of going through the regular process with listing the house, having to do some cosmetic work, keeping the house picked up and spotless with a toddler, a dog, and a full time job for 6 months or more in this market is more than I can possibly comprehend at this point.

Anyway, we have been receiving letters from MAFC Residential who will give you an offer within a week and buy the house directly. No agent fees, no money for fixups. But yes, we would probably get less than market but if it saves me months of stress, so be it.

Does anyone have experience with this company or anyone like them? I believe they only operate in MD, VA and DC. I like what I have seen about them on the internet. They seem legit. But you know how that goes on the internet.

What do I need to watch for and is this a good idea?

I have not yet contacted them. Wanted to investigate further.

I appreciate all honest opinions. Thanks.

Don't know the company or their reputation. I would suggest that you at least hire an Attorney to go over the contract they present you. Going at it alone could be costly.

Spend the money on the front end or get screwed in the A$$ end.

That is a good suggestion. Thanks.

In your situation an auction may actually be a good way to go for the finality of it all.
There are many good auction companies out there(I am in no way affiliated with any but know some people thru another forum I go on)
NOwadays you can do absolute of have a reserve. Sometimes people get caught up in the moment and you can more than you thought you could and its as is so no inspections etc to deal with.
Just a thought about another avenue thinking out of the box a bit.
Have a great day,
Paul

Make sure your expectations aren't too high for selling your home.Mailing to people with arm's is what smart investors do as well as mortgage companies knowing they can refinance or if they have missed payments and are under distress a short sale.

From your comments you are current and just want to sell your home before the arm adjusts and the payment goes up.If you want to stay in the house see if you can refi into a fixed rate loan.

If you go the auction route it will increase the buyer but you will still ge thit with an auction fee and if you have a reserve and knowone bids it you won't have a sale.

Investment companies work like this.You call me to sell me your home so you can have a quick and easy sale-which has a price to it of a lower sales price.

If I pay cash there are no closing costs or realtors commissions so you can accept less as the seller and stil be around the same net.Now your home might be dated and need cosmetic and mechanical repair and the investor will have to pay for this to fix it up when they buy it.

The question to ask them is are you lloking to flip my property or rent it out.If they rent it out they can pay more for your property than if they need to immediately flip for a profit.

Sellers mistakingly beleive these companies pay top dollars or 5 percent belowe market.If you believe that you are kidding yourself.If you want to fight for your equity you will need to list it and do the REQUIRED fixups and staging to the house.If you want to be lazy and a quick sale expect to lose a big chunk of your equity.

Buyers want a finished project that show well.They don't want I painted and tidied up some so you finsih the rest and pay me market price-it NEVER works that way folks!

The only time was in the housing boom where appreciation was going crazy and people were multiple bidding.That market is GONE and is non-existent today.

Call them up give them your price and they will tell you there price.You will either do the deal or list it and put the work in to get top dollar.

good luck

Oh, I am sure they will just flip it and yes, I am trying to be lazy and save myself some stress

I completely understand everything you are saying. I fully expect the price they offer will be less than market.

karas expect the price they give you to be fair market value -less estimated repairs -less 30%. That is normally the max price an investor will pay

Talk to a good, local Realtor that sells and has sold many homes in your area. They will give you the facts on price, market time and what it will take to get your home SOLD.

I would do this BEFORE you speak with anyone that is trying to buy your home. Especially an investor.

Selling a home can be stressful but hiring the right Realtor could relieve that stress AND put money in your pocket.

Selling is stressful but you should find a way to deal with it. You will give up serious money if you want an instant sale to an investor. Why don't you move out into a rental close to where you work? Then your home will be vacant and you won't have to keep it up daily while it is marketed by a good agent. You might net more with this approach.

Karas,

Let me know if you would like to speak with a great agent in your area. I know a few agents in Virginia that will do a great job for you. You can send me a PM if you would like me to refer you to them. Good luck.

If it's to let it go to flippers, why not call 4 or 5 of them and begin an auction between them? You'll sell below market, yes, and you'll save your stress. But you may get few extra grands...
My 2 cents though....

I find it hard to believe that experienced investors would try to flip a home in this market.

Markets are different down to State,County,and City level so to talk about the "Market" on a national level makes no sense whatsoever.

I know plenty of investors flipping day in and day out in there areas and doing quite well.The PROFIT is made when you buy!

Most homes are overleveraged hence alot of deals being performed are short sales in pre-foreclosure then flipped to a retail owner occupant buyer.

You ask why would a buyer not buy and do the short sale themselves?The answer is easy short sales are VERY hard to do and have many factors involved loan types,liens,taxes,etc.

There is plenty of money to be made you just have to know how to structure the deal and cash out.

In every major metro city there are FSBO companies that operate the local FSBO advertising market. These companies can be helpful but in my experiences they give you vague information and charge you for everything. FSBO seminars are not for everyone and will cost a few dollars, usually between $25-$45 per person. It is a 30-60 minute presentation by a FSBO company employee on how to sell your home. Most of the presentation is directed on how their company can help you and the products/services they provide. If you want to save some time and a little money do your own research or finish reading this post and you will know all the steps involved in selling your home on your own.

sleepingbeauty

What do you do for a living? How do you do it? I can do it s good as you if you will just show me how. Get a life!