There’s not a week that passes that I don’t receive a postcard or flier in my mailbox from a real estate wholesaler.  As a Realtor, I spend a lot of time in my car and I hear advertisements constantly. We’ll buy your home, as is, for cash, no sign, no key box, no showings.  Just pack your furniture and leave. You don’t even have to clean.

 

Having been in real estate for many years, I know how tempting the convenience of just taking a check and moving on is but consider the cost.  Selling your house to a wholesaler means selling it for at least 20% to 30% less than market value. After all, the wholesaler’s goal is to clean it up and resell it at full market value. This means the price for convenience may be as much as $60,000.  This also means that for the next few weeks or at least until the wholesaler resells the home, the value of every house in the neighborhood will go down. Appraisers look at recent sales to establish value and they don’t take into consideration that a house was purchased by a wholesaler.

 

Before you consider selling to a wholesaler, talk to an agent or broker who specializes in your neighborhood.  Get their opinion on what your home is worth and what it would take to get it into condition to achieve maximum value.  In most cases, particularly in areas like ours where the homes are fairly new, it just requires a thorough, professional cleaning and some de-cluttering.  If it does require some repair most agents know contractors who will do the work and collect the bulk of their fee at closing. Make wise choices when selling your home and don’t fall victim to the equity scavengers.