Their Offering Statement:
Just like in any marketing, they'll all try to come up with ways of sounding unique, but it's all the same strategy, make money by offering you a quick solution. But, at what cost?
You'll hear things like "no commissions, we'll pay all closing costs, no waiting, any condition" and more. Sounds good right? But, what will they do with the house. Are these people like house horders or something? No, they are investors and they are buying for profit not charity. So, any fees that you aren't paying, they plan on paying when they sell it and reduce their offer to you accordingly.
In general, expect to be offered 20% less than market value at best, if you're home doesn't need any work. If your home needs repairs, they reduce their offer accordingly. All in all, what you get is a whole sale price for your home with the only benefit being a quick close. On a 100,000 dollar house, if a quick close is worth loosing 20-30k to you, then it's a good way to go.
By the way, auctions are the same value proposition. You may think that you'll get top dollar cause people are bidding against one another, but guess who buys houses at auctions? The same investors who will pay cash for your house at a whole sale (heavily discounted) price.
How I know what I'm talking about?
Well, in short, I work closely with investors. I know how it works because I'm involved in it. One big difference is that I always make sure a consumer knows all their options.
I once met with a lady who had a second home that did need renovated. She had two offers for her house, 40k and 60k. Obviously the 40k was out of the question, but she thought 60k might be the way to go. I told her that even though her house needed a lot of work, she would make a lot more money if she listed it instead. If I was wrong, then I could sell her house to an investor for 60k. I listed her house for 100k in the winter and had 5 offers in a week. That house sold for 107k in 30 days!! So do that math; pretty sure my commission was well worth it. She made over 30k more!
What if I just want to get rid of a property and I don't care about price?
Then schedule an appointment with me. I will tell you what I would want to list it for and I could also make you a cash offer that would close quick. Then you can make an informed decision.