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#28198 - 10/18/05 07:26 PM Home Investors?
oneupmshrm Offline
Junior Member

Registered: 10/18/05
Posts: 3
Loc: Michigan
This post kind of goes with my previous one about dissolving a contract.

The reason we are selling our house is that my wife took a apprenticeship with her company.We wanted to stay in our house for a few more years(we have only lived in it for about 1 and a half years). But she has to drive an hour and a half to get to work by 6am.So we listed it with a realtor. Well anyway about a week ago she fell asleep at the wheel and ended up in a ditch (she is ok:)). This has made our need to sell very important. Our realtor does not seem to understand this and continues to ignore us.Before we signed the contract she talked about how some realtors load up on houses and wait for them to sell themselves and she would never do that. Well it seems that is exactly what she is doing (Sorry I tend to Ramble:)).

Anyway my question is what are your views on Home Investors? Because we really need to move A.S.A.P. As it stands now we will only end up with about $200 after selling our home and that is if we get our asking price. So we do not mind breaking even(If that is what happens with Home Investors).

Thanx again in advance
Aaron

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#28199 - 10/18/05 07:33 PM Re: Home Investors?
Carla in Colorado Springs Offline
Veteran Member

Registered: 06/08/05
Posts: 869
Loc: Colorado Springs
For the price most home investors are willing to pay you could sell it in a day to anyone. They are not going to pay market value,and you will end up with a substantial loss. You may need to drop your price, but you can sell it quickly and charge more than an investor would pay. You need to have your Realtor (or your next Realtor) look at how QUICKLY comparable homes are selling in your area. When I help someone price their home, I don't promise a date when it will sell, but I can provide them with historical data that can help predict how quickly the home will sell in different price ranges. I genereally price a home at a price that I think will bring a buyer within 30-60 days. If you want to hold out for a higher price you might consider renting it until next spring and listing again at that time.
_________________________
Carla Starkie, Broker
CS & Company
www.cscolorado.com
www.springsrealestatecareer.com

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#28200 - 10/18/05 07:36 PM Re: Home Investors?
oneupmshrm Offline
Junior Member

Registered: 10/18/05
Posts: 3
Loc: Michigan
Carla,

Thank you for responding to both of my posts so quickly:) I really appreciate it.

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#28201 - 10/20/05 10:15 PM Re: Home Investors?
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 5502
Loc: georgia
Home investors will genrally pay 50-70 cents on the market dollar for your home depending on the condition of the property.It sounds like you are in a tough spot and have only been in the house a short time to create very little equity to work with.It's doubtfull you will get full price,it all depends on where your house is priced at slightly above,at,or slightly below going market value and it's condition.A lender will not let you sell for less than what's owed on the mortgage unless you show financial hardship.When you can't adjust your price your options are limited for a quick sale.good luck

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