Home Loan Information Home Loan Information From A Former Industry Insider

Guaranteed Sale in 30 Days or I Will Buy Your Home

Have you heard or seen an ad like this from a competitor and wondered how they can afford to do it? Do you have a hard time believing it?

It works. Set your listing fee high enough to cover costs and make the numbers work, get a Buyer/Broker Agreement to find the higher priced home for the sellers, and it works, all day long. Essentially it works just like you see it: list the house at fair market value, advertise it heavily along with your other listings. If it doesn’t sell in 30 days you get the house for 15%, for example, below market value and the seller pays up to 6% toward closing. Obviously it doesn’t work on all homes and not all sellers are going to able to pull it off. However if the seller will avoid making two mortgage payments and has equity in the listed property and wants to move quickly – it’s a “win win” for everyone.

Have you tried it? Know anyone who has? Want to learn more about how to handle the transaction?