REAL ESTATE I've seen billboards and other ads for : companies stating that I will receive a cash offer immediately if I list with them. How can they guarantee this? Q: Dick Phelps These are "for-profit" companies and you the seller will ultimately be the A: one providing their profit. At first appearance, the idea of selling your home without actually putting it on the market, struggling with showings and open houses, or even negotiating price or repairs sounds fantastic. It truly comes at a cost; a large portion of your equity in the home. These companies will buy your home but at a drastically discounted price. This reduction can be between 10% to 18% compared to the normal selling cost or 6-7%. Reduction of your equity can amount to a great deal. In a normal sale there will, in most cases, be contingencies for inspections for example. If problems arise, you and the buyer can negotiate a solution. With these companies, there are contingencies in their contract that allow them to inspect and reassess their offer with even more deductions in the amount you are to receive. You will have to accept these reductions and not be given the opportunity to negotiate these reductions as you would in a normal transaction. If you choose not to accept, these companies can cancel at no expense to them. On the other hand, working directly with a Realtor, you have a proven professional working with your best interests at heart, not theirs. You are afforded security and piece of mind in knowing your Realtor represents you and be granted fiduciary duties of confidentiality, loyalty, care, and honesty, just to mention a few. As the homeowner, you have a right to the equity you have accumulated in the home through your cash and hard work. The tried and true method is to work with a Realtor to determine the value of your home by comparing it to homes currently on the market and ones having recently sold. A good marketing strategy will reap great rewards. If you are thinking of selling, call me for a Comparable Market Analysis (CMA) of your home to determine its value. Now is a tremendous time to have your home on the market due to low inventory and low interest rates, yet high buyer interest. Century1 For Questions Contact: Dick Phelps 218-766-5263 rphelps@century21dickinson.com DICKINSON REALTORS REAL ESTATE I've seen billboards and other ads for : companies stating that I will receive a cash offer immediately if I list with them. How can they guarantee this? Q: Dick Phelps These are "for-profit" companies and you the seller will ultimately be the A: one providing their profit. At first appearance, the idea of selling your home without actually putting it on the market, struggling with showings and open houses, or even negotiating price or repairs sounds fantastic. It truly comes at a cost; a large portion of your equity in the home. These companies will buy your home but at a drastically discounted price. This reduction can be between 10% to 18% compared to the normal selling cost or 6-7%. Reduction of your equity can amount to a great deal. In a normal sale there will, in most cases, be contingencies for inspections for example. If problems arise, you and the buyer can negotiate a solution. With these companies, there are contingencies in their contract that allow them to inspect and reassess their offer with even more deductions in the amount you are to receive. You will have to accept these reductions and not be given the opportunity to negotiate these reductions as you would in a normal transaction. If you choose not to accept, these companies can cancel at no expense to them. On the other hand, working directly with a Realtor, you have a proven professional working with your best interests at heart, not theirs. You are afforded security and piece of mind in knowing your Realtor represents you and be granted fiduciary duties of confidentiality, loyalty, care, and honesty, just to mention a few. As the homeowner, you have a right to the equity you have accumulated in the home through your cash and hard work. The tried and true method is to work with a Realtor to determine the value of your home by comparing it to homes currently on the market and ones having recently sold. A good marketing strategy will reap great rewards. If you are thinking of selling, call me for a Comparable Market Analysis (CMA) of your home to determine its value. Now is a tremendous time to have your home on the market due to low inventory and low interest rates, yet high buyer interest. Century1 For Questions Contact: Dick Phelps 218-766-5263 rphelps@century21dickinson.com DICKINSON REALTORS