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8/16/2022 4:37:09 PM
Posted: 6/15/2022 9:32:20 AM EDT
Alas, we are getting ready to depart Texas.  If the market would have stayed better / if we would have sold last month / etc.

Shoulda coulda woulda.  

Anyways, we will probably list the house in Flower Mound on 7/7.  If I go with a real estate agent, I get the privilege of paying 6% closing costs.

I keep hearing about these "bog companies that swoop in, and make a cash offer above all asking prices, and price out families trying to buy the American dream."  

Anyone know any of those companies?  Google returns, "Webuyuglyhouses.com", and other crap like that.  I'd like to talk to them before I sign with a realtor.
Link Posted: 6/15/2022 10:02:05 AM EDT
[#1]
WeBuyUglyHouses is a vulture company that offers 50% of value hoping someone is stupid or desperate enough to take it.  

49 out of 50 are smart enough to say "Fuck Off" but if you just get 1 out of 50 they make a Killing off those deals.

Don't know who is the Go To companies are for DFW (My area of expertise is Central Texas) but I'm sure someone here will chime in.

You might Google Around on Quick Sale or Guaranteed Price and see if you get something of interest.

BIGGER_HAMMER

Link Posted: 6/15/2022 10:09:38 AM EDT
[#2]
Any of the sell quick places are going to low-ball you. They are in the business of buying low and selling high - that's how they stay in business.

It's my understanding the yuuuge houses aren't selling as fast. But typical 3/4br sub 3ksqft are still selling fairly quickly.

Redfin has a lower commission, I think something like 1-2%. Maybe an ARFCOMMER is a realtor and can hook you up
Link Posted: 6/15/2022 10:16:00 AM EDT
[#3]
I've gotten mail offers from Opendoor
Link Posted: 6/15/2022 11:13:53 AM EDT
[#4]
Pm'd you about a recommended realtor.  Good luck!
Link Posted: 6/15/2022 2:32:44 PM EDT
[#5]
My boss had very good results with offer pad.
Link Posted: 6/15/2022 10:38:36 PM EDT
[#6]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By mPisi:
I've gotten mail offers from Opendoor
View Quote


We sold our last house to opendoor.  Hassle free, no issues, no complaints.  It was back in 2017 though.
Link Posted: 6/17/2022 10:10:09 PM EDT
[Last Edit: Mike_48] [#7]
No need at all to pay 6%. If you need a realtor at a lower percentage let me know and I'll ask her (a close friend of mine) what she can do for you.  She lives close to Flower Mound.
Link Posted: 6/18/2022 3:33:14 PM EDT
[#8]
I’m in Flower Mound right now and looking to buy a bigger house for my family.  We wouldn’t need a realtor.
Link Posted: 6/18/2022 4:12:33 PM EDT
[#9]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By R3L04D:
Any of the sell quick places are going to low-ball you. They are in the business of buying low and selling high - that's how they stay in business.

...
View Quote


Actually it is worse than that...  Most of these companies are buying low and then RENTING high.  They have driven the market up so much by buying up all the affordable properties that nobody can afford to buy so they're forced to pay high rents.

Link Posted: 6/18/2022 4:41:28 PM EDT
[#10]
We got a bid from OpenDoor and some other place last year...mainly to get someone to do an inspection, and show us what we MIGHT consider fixing before listing, to assure a bidding war when we did list.

Both were a freaking joke.  

Opendoor actually took two weeks for a hard offer. They took comps and elaborately detailed every possible thing that would make new construction superior to used, without providing credit for items that would make used superior to new construction. (Like $7,500 of < 2yo premium mini blinds, $2,000 worth of overhead garage shelving units, water softener, and multiple other items.

The "estimated" repair cost was based on a goofy list of items.  Most of the estimates were high. 95% of the items did not need to be done to sell the house in the 2021 market.

We already had a roof inspections. It was 9 years old, but no problems.  First item on their list was $17,000 for a new roof.
Painting the entire interior.  We had already repainted 75% of the interior walls a neutral color
Every... everything the could find was listed and a deduction  take for it.  Think making a punch list on a final inspection prior to closing on a new construction custom home.

Opendoor started with "comp valuation" of $294,xxx and found over  $30,000 of work they said would have to be done before they sold, plus taking off their service fee (I think that was 5%). They were willing to write us a check for $247,000.  The home sold a month later, listed $315, sold for cash, with no option, inspection, or appraisal, after 2 days on the market, for $329,500. We spent about $2000 staging and replacing a couple of GFCIs
Link Posted: 6/18/2022 6:43:12 PM EDT
[#11]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By NAK:
...
Opendoor started with "comp valuation" of $294,xxx and found over  $30,000 of work they said would have to be done before they sold, plus taking off their service fee (I think that was 5%). They were willing to write us a check for $247,000.  The home sold a month later, listed $315, sold for cash, with no option, inspection, or appraisal, after 2 days on the market, for $329,500. We spent about $2000 staging and replacing a couple of GFCIs
View Quote


Here's the real kicker...  probably what they really would have done...  Cut you a check for the $247k, done little to nothing to the house and then put it on the rent market for a premium price.  Companies like OpenDoor mostly aren't selling, at least not to end homeowner buyers.  Some of them may be selling to "investors" or landlord companies. Selling to families doesn't drive the upward spiral of prices like making houses rentals which keeps the inventory of houses for sale low.
Link Posted: 6/24/2022 11:59:18 AM EDT
[#12]
@Mugzilla - Check out Emerald Dolphin Enterprises in Haltom City. Owned by a good buddy of mine
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