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HomeVestors (The "We Buy Ugly Houses Company")

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  • HomeVestors (The "We Buy Ugly Houses Company")

    My two sisters and I are inheriting a home that we want to sell. I have considered contacting HomeVestors (The "We Buy Ugly Houses Company"). Does anybody have any experience with them? Do they pay like one half of a normal pruchaser or how exactly do they work? Are they legitimate?

  • #2
    They pay an extremely LOW price for the house...get a realtor to sell it for you, as the "wholesale" price will not get you what its worth
    Last edited by crass cop; 05-05-2011, 09:54 AM.
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    • #3
      Yep a rip off just let a realtor sell it for you or try to sell it yourself.
      Budda sat in front of a wall and when he stood up he was enlightened. I sat in front of a wall and when I stood up the wall was enlightened.


      We forge our skills in the fire of our will.

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      • #4
        It all depends on how fast you want the money.
        HomeVesters is a franchise company. Investors throughout the country purchase franchises for particular areas. When you use HomeVesters, they will contact a franchise owner investor in your local area who will contact you with their offer. Although these investors can sometimes put cash in your hands and close within 7 days, expect to receive no more than 40% of the Fair Market Value. It is also possible that some investors may offer to pay you a higher amount, even up to your asking price. But they won't pay all at once. Instead, they will ask you for special terms such as making monthly payments to you over a multi-year period. This will help decrease your taxes by spreading out your capital gains taxes over many years.

        When dealing with a real estate agent, they are not buying your property. They have to list the home to attract buyers. Then they have to prescreen buyers to see who is qualified for a mortgage, or wait for the buyers to qualify for a mortgage. A real estate agent can get you much more for your house than an investor is willing to pay, if you are willing to wait.
        Last edited by BAinCJ; 05-17-2011, 01:24 AM.
        Living it one day at a time.

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