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I'm sure you've seen the billboards or the road side signs pitching "we buy houses for cash". Bet you are wondering what the deal is with that pitch. Let me tell you.
First off, it's just like your mother told you... if it sounds too good to be true, it probably is. On the other hand, these pitches have some merit depending on the situation. If you needed the cash or out of a mortgage and could afford to sell at 50% of market value, then that'd be quick option. To put it another way, if you leave $10,000 laying on the sidewalk, I'm sure someone will stop and pick it up. The trouble I have with these deal makers, is they're not looking out for the person facing the dilemma. In addition, these entities are not regulated. They are business people looking to capitalize on others misfortunes. That's how it is ... capitalism at its best. The part about this deal making pitch is it is directed at people that are in a rock and hard place... stressed and vulnerable. These people may not make good decisions related to the pitch that's presented. The pitch might be slanted and not totally true. How does using a house broker (aka I buy Ugly Houses) work? My house is not ugly but when the time comes I might consider this option. Here's an opinion link to review from Tulia Voices addressing the question above. It gives a number of perspectives on the issue. My advice is if you need sell fast or get out of a mortgage you can't afford, contact a real estate broker, attorney and an accountant for the best advice so you can make the best decisions. |
