Sellers: Stay Far Away From Companies Offering to Pay Cash for Your Home

Charlotte Real Estate Podcast with Dan Jones

Most of you have probably seen advertisements for companies claiming they’ll buy your home for cash. They make it sound so easy, but is it really? Are the results worth it? Here’s the truth: If it sounds too good to be true, it probably is. One of our clients recently met with one such company. Over the phone, they had priced her home at $308,000—but this client’s home is actually worth about $330,000. When they visited her property, they started making price reductions based on things like the fact that she didn’t have granite countertops. And these deductions made no sense. Even though it only would have cost this client about $2,800 to install granite countertops, the company chopped $4,000 off of their offer because her home lacked them. The company made deduction after deduction like this until she was left with an offer of about $290,000—$18,000 less than what they had originally said they’d pay. “In addition to making such low offers, companies like these also charge a fee that knocks the price down even further.” So instead of working with this company, this seller decided to come to us. Within the first week of having her home on the market with our team, she received an offer of $327,000. If our client would have proceeded with the company she’d been speaking to before, she would have been in for yet another nasty surprise. In addition to making such low offers, companies like these also charge a fee that knocks the price down even further. In the case of our client, she would have been asked to pay a 7% fee to sell her home to this company and ultimately earn less than she could (and did) on the open market. So if you have $60,000 or $70,000 to lose to a dishonest company, by all means reach out to them. But if you want to sell your home quickly and for top dollar, call us. If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.