We offer a fair offer based on the market and the condition of the home. We take the house “as is”, without the need for repairs or cleaning. And you won't have to hire a real estate agent or pay sales fees either.
Homevestorspays all typical closing costs and we pay you cash.
No, they won't pay much for your house. Like most cash buyers, HomeVestors generally buy homes for a maximum of 70% of their real market value. This is because their business model is based on buying homes at a discount and then reselling them for a profit. If you want to receive the best price for your home (and save on real estate agent fees), consider opting for a low-fee real estate agency near you.
When selling to HomeVestors, you cannot negotiate the selling price. If you think your home is worth more than what they offer, your only option is to decline the offer. Nor can you make any improvements that could increase the sales price. Many sellers can make improvements to their property on a limited budget and then benefit from them exponentially.
By selling to HomeVestors, you lose that opportunity. While all HomeVestors franchises operate with the same directors, your experience can still vary depending on the office you work with. HomeVestors competes directly with iBuyers including Offerpad, RedFinNow, Orchard, Zillow Offers, Opendoor and others. Many novice and experienced real estate investors buy a HomeVestors franchise in the hope that their training and brand recognition can boost the business.
The biggest problem with this formula is that HomeVestors estimates repair costs for you, so they could inflate your costs to make the offer appear more favorable. Another financial benefit of working HomeVestors is that there are no agent fees or other typical closing costs, which can save about 6 to 9% of the value of the property compared to a traditional sale. Overall, HomeVestors main selling point is that they will place an offer on any home, which can allow a struggling homeowner to break free quickly without having to repair, paint, organize, clean, or deal with an extended real estate closure. Most HomeVestors owners won't increase their supply because their business model is to buy homes for less than market value and then resell them at a higher price.
Therefore, if a real estate agent believes they can sell your home, they are essentially guaranteed to make you more money than selling to HomeVestors. The HomeVestors franchisee is not legally required to represent consumers, their main legal obligation is to their stakeholders. You'll simply receive a cash offer for your home after a Homevestors inspection takes place, and then you'll decide if you want to accept or decline that offer. Yes, you can negotiate with HomeVestors, however, this depends on the franchise itself and the investor you are dealing with.
HomeVestors focuses on teaching new real estate investors how to use their system to buy cheap homes and resell them to other investors who will do the rehabilitation work or fix and change them themselves. Like other companies that buy homes for cash, HomeVestors seeks to make a profit by repairing and reselling homes. So unless you're desperate to get the property out of your hands, or don't think it will sell on the open market, selling to HomeVestors isn't the best decision you can make.