Yes, I know they’re scummy as fuck. Yes I know they’re gonna turn it into yet another overpriced rental. But I’m mostly asking if they’re otherwise legit.
I get those offers all the time and typically shitcan them immediately. The most recent offer I got is for twice what I paid for the place, and honestly, it’s enough to be my ticket out of this backwards-ass shithole state. Otherwise, barring a surprise lottery windfall, I’m stuck here for the foreseeable future.
Assuming all is above board, the main concern I have is if it’s worth that much to them, wouldn’t it be worth that much to me? FWIW, I like my house and my neighborhood, but it sadly exists within a shithole of a redneck state where I’ve been disenfranchised all my life, and I want the fuck out of here.
Edit: Thanks everyone. I knew they were scammy/scummy but several of the replies cleared up how they operate, and it’s scammier than even I was thinking. Back to buying my weekly lottery ticket and hoping for the best. 🤞
The person you’re replying to is saying to avoid the scammy buyer offering 2x, and instead list normally at 3-4x.
That won’t do anything to avoid scammers.
Yes it will.
When you sell your house “normally” through a real estate company it is the real-estate company who acts as an intermediary in the transaction. They collect money from the buyer, then pay you, and the transaction completes.
The real estate agent takes a cut for their services, but there is less potential for fraud than if the buyer sends you money direct. The real estate company has a vested interest in making sure the sale goes through properly, because they won’t get their cut otherwise.
It’s the title company that does that, not the real estate agent.
Thanks for the correction.
Regardless, an impartial third party does it, and that’s the key part in making you less likely to be scammed.