I received a card in the mail while I was going through some medical problems to sell my house in Herndon, VA. Said I would save the 6% realtor commission and have a quick turn around.
I had just lost the tenant in my other house so thought I would see what they say. I live out of state and since I was looking at surgery I decided to call. I knew the value of my other house but had not looked at the values in a few years on the one in Herndon.
I got the offer to buy my house for 100,000 and since 2 years ago they were selling around 90,000 I thought that was fair and they stated on the cover page "Our Acquisitions Department, consisting of experienced Real Estate professionals, primarily looks at comparable sales in the subjects property's neighborhood and the condition of the subjects property. We base the condition of the property on what you provided us over the phone.
We also use the income and cost approach when necessary." They wouldn't lie to me. I had told the woman on the phone that is the value was within 6% of the market value I would sell... Otherwise it wasn't worth my time. Just about everything in the house I replaced so the house was in excellent condintion.
I received the second value on my other house and told them the value was wrong and he said he would look into it.in the meantime I signed the other contract but sent a message to my friend in va to run the comps on my other house still thinking the value was fair. She sent me the comps and I found out the average price in my neighborhood was going for 152,000. The guy Nick Ron called me back and gave me 10,000 more on my second house. I told him it was bull. I asked him how they come up with the values. He told me based on age and all this other crap. I told him "Dude... The house next to mine, built the same time, doesn't have a deck, doesn't have a fireplace, doesn't have a whirlpool bath sold at 220,000 and how do you get 195,000." I told him I would not sell at that price and that I now knew he ripped me off on the other house.
My friend just ran the listing on my house and they listed it for 149,900. Not only that but the real estate agent is the guys wife and they have listed them as the owner. We have not gone to closing and they do not own the house. So they are trying to make 49,900 and the commission on the house as well.
Joan
Moon Township, Pennsylvania
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