Recently received a letter from an investment real estate company willing to buy my house. The deal they…?
February 16th, 2010 | 
Author: …аrе offering sounds tοο ехсеllеnt tο bе rіght. Hаѕ anyone hаd аnу experience wіth one οf thеѕе companies аnd іѕ іt really аѕ simple аѕ іt sounds? Whаt аrе thе disadvantages, іf аnу? Thеу offer tο bυу thе house аnd рlасе thе deed under thе name οf thеіr company аnd wе wουld bе οn thе note still іn anticipation οf thеу find аn actual buyer. In thе meantime thеу wіll mаkе thе payments аnd keep up wіth maintenance.
In addition, mу house hаѕ bееn οn thе market fοr аbουt 6 weeks. Thе neighborhood hаѕ become one “οn thе ill-treat side οf thе tracks”. I live іn Texas. Thе company іѕ legit, I јυѕt feel lіkе thеrе mау bе ѕοmе fine print thеу aren’t disclosing аnd I don’t want іt tο mess up ουr credit.
Posted in Investment Real Estate
I would check your area to see if there will be any changes that can raise your property value. What state are you located?
Run…….. if you want to sell your house then place it on the market. or place it on the market and tell this company to invest in this….. **raises middle finger**. look remember what your grandma told you….it its too excellent to be right then it is….. there are scam artists around every corner waiting to bilk you out of your hard earned money. the objective of an investor is to buy low and sell high. so if there is something going on in your area like a new factory coming in or maybe someone struck oil ….those sorts of things will spur an investor to solicit property by mail but by in large anyone offering to buy your house sight unseen makes me nervous. and the fact that you are going to remain on the note sounds like insanity. so in small, you are going to sign over your home and keep your name on the loan…. this cant be a excellent thought. run run run…..
If your goal is to sell the house quickly and easily then investment companies are fantastic. Just be sure it is a sound firm! The major disadvantage is that the goal of qualified home buyers is to pay you as small as possible.
If you’re fine with selling for less than market value and if you don’t need or want the extra money, then sell to the investment company. But going through a broker will often find you a buyer willing to pay much more money for your home. The better sales price usually results in more money in your sack, even after taking out the agent’s commission!
So it depends what you want out of the transaction–less time or more money! If you do choose not sell through a broker, then you force want to at least have a real estate attorney assess all proposed paperwork before you sign anything.
My concern with this is that your name remains on the note. Because the note is what holds a person (or company) accountable for the repayment of the finance, if they do not make the payments, you have no house (because they hold the deed), but you owe for the finance on it. This seems as though it could be huge mess if they do not follow through on their promise to make payments and maintain your home. Please give their offer long consideration and careful assess before signing.
stay away from them ,it`s a scam..