WARNING: Offers May Not Be As They Appear
As we continue to wonder we realize that there may be an easy out.
Opendoor, Offerpad, and now Zillow, all make the sales process easier than ever.
But….. why? That is the question. And if you follow the money the answer will appear like a Las Vegas neon flashing sign.
Sometimes these companies are disguised as good Samaritans. The truth is that they are rubbing their hands in glee because you are going to hand them the keys to your equity.
If that were not the case they would not be offering quick cash for your pad. And if you really knew the numbers you would never open the door to let these robbers ransack your wallet.
How and Why do we Fall Prey to This?
It’s because deep down we know that to pull off “flip my house” a successful flip is very risky for someone who has not got experience. Perhaps we don’t know how to go about budgeting & financing the improvements and oversee a project from start to finish. Maybe it’s because we don’t have the energy to see it through. Maybe they think they have to be in the flipping biz to pull this off.
Then again, the allure of a quick cash purchase sounds so simple. After all, doesn’t it seem attractive to think that you can press a button and get an offer on your home?
Isn’t it comforting to imagine that you can ditch the hassle of the selling process? It actually sounds like it could be one of the best experiences of your real estate dealings. It all starts with a simple click, then you move on.
They say you will get a competitive offer, but have you got the expertise to scrutinize the details? Probably not if you don’t do this for a living. Chances are that you are leaving thousands on the table. There are probably fees you may not recognize as being out of whack.
You may be surprised when the inspections are done. You might be spared from having buyers walking through your property, but what about all of their carpenters, electricians, plumbers, and specialty contractors going through your home looking for things to justify a price reduction?
It’s Your Equity | You Earned it | You Keep it
It doesn’t have to be this way. There are far better options for you. Options that put those flipping profits in your pocket instead of one of those equity snatching companies.
You may be surprised at what a kitchen remodel or bathroom rehab can do for your bottom line.
Add a new paint job and flooring and the house will look as if it is drinking from the fountain of youth. Now, how do you go about developing the right plan?