Every homeowner wants top dollar when selling their house. But if you're not careful, you could get a deal far below your home's value. Tricia Kean reports.
She wasn't 'scammed'. She made a dumb decision, willfully, that came from her own brain. She signed a contract & that should've been end of story. She's lucky she got out of it.
This was her fault for not doing her research or even discussing with her family before. It was an emotionally based decision and a very very bad one! Anyone looking for a quick way out is always prey.
It was her fault, she’s lucky not only the buyer allowed her to back out to the contract but paid for her lawyer fees. That’s pretty much unheard of nowadays. IMO
Yep, how do people not understand what it means to "sign a contract"...she really thought people can just sign a contract and then just change their mind? She's very lucky it went this way. And doubt she'd be so forgiving if someone else signed a contract to her benefit and then they just decided to change their minds.
No need to use a realtor. She could have looked herself at what the similar houses were selling for. Or hired an appraiser for a few hundred dollars. Of course, she didn't know what she was doing so might not have been able to sell FSBO unless the buyer was savvy. Nothing really wrong with those companies but I'm not dumb enough to do business with them.
@@DM-il1hf B.S. You're prolly the buyer omg. However, she was "havin a good ole time" what a dippy thing to say when you're selling your single biggest asset.
@@troy3456789 Exactly! All she had to do was run the comps in her neighborhood. As long as her house was basically in the same condition as the homes around her, it would of given her a pretty good idea of what her house was worth. Which is fairly easy to do anymore today. Just saying...
Actually this is nothing compared to all the money that was made & lost between buyers & seller's back when the housing market crash in 2008. Due to the subprime mortgage loans created on Wall Street by the lip service from a few con artist mortgage brokers who had the idea to give everyone & anyone a loan. Houses in Vegas that were once appraised at the time for a million dollars+, were giving them away & selling for 3 to 4 hundred thousand dollars. People who had the money were making a killing off the financial instability of others back then. Real Talk!
She seems like a nice lady but may be the kind of wife who let her husband handle all these kind of things so she probably had little experience with selling a house. Obviously should have spoken with her son before and not after. Good for her that she was able to get a good lawyer that scared them enough that they paid her lawyer fees. So happy ending for her.
@@lajinkccat8995 She's able to run to the news about her house, she could have easily called a real estate agent about selling. She's no victim, she made bad decisions.
Seriously. I get phone calls and emails all the time from people trying to tell me the value of my home. I don't even own a home.... Can't be that difficult if they're literally trying to value homes that don't even exist...
I 100% agree with other comments she’s NOT a victim here, and she wasn’t scammed. She got an ad in her mail box and she wanted to sell it fast. So she’s surprised the offer from the mail was a low ball offer??? Well then don’t try to sell fast, don’t respond to mail offer, invest your time and energy and sell for more!
It's a scam because they don't offer the true value of the property. They do this every day looking for people like her that don't do their research. If it wasn't at least unethical, they wouldn't be paying to make the story disappear as quick as possible. Yea, they already went into "not returning her call" phase but that attorney got their attention. GTFO.
She is childlike. Even at the end, she says "you don't have to hire a realtor." She's the kind of person who overpays 5,000 for a car, but brags that she made the dealership give her an extra free baseball cap as part of the deal.
I'm in LA. I've met soooooo many people who sold there house for a million bucks and then were pissed when a company came in, renovated, and profited. A lot of these sellers were gentrifiers and themselves bought their houses off other people for 300K--occupied for less than 5 years--and turned a profit. But they STILL act butt hurt.
I get calls from these companies every week and my house isn't even for sale. Sometimes I give them a price slightly above the estimated market value and I never hear from them again.
Yes, They call me at least once a week too, but my house is not for sale. I don't know how they pick someone to call. We're in our house almost 50 years and always do a lot for the upkeep. I always tell them that if I would sell, I certainly would not sell it to someone calling me over the phone.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
My Financial adviser is ‘’Colleen Janie Towe’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks for the contributions, I will look her up online and do my due diligence. If She seem proficient. I`will write her an email outlining my financial objectives and scheduled a phone call.
EVEN THOUGH SHE MADE A BAD DECISION TRYING TO HASTILY SELL HER HOME; SHE'S SMART TO INFORM THE CONSUMERS AND THE COMMUNITY ABOUT ACCEPTING LOW BALL OFFERS!!!
That didn’t sound like a scam. It sounds like this lady just made bad business deals and didn’t make sure to speak to someone to make sure she was out of it. The buyer did not have to let her out of the contract. It’s a contract for a reason because people do NOT have the right to back out of deals in hindsight. The buyers definitely didn’t have to pay her attorney fees! You should be so lucky to find any company that would do as much as that company did!
It didn't start as a scam, but the moment the people she made a deal with went incommunicado, they violated their fiduciary duty. You can lose your broker license for that kinda crap.
@@teenyverse7707 When it's your livelihood, losing it is a big deal. Also, about 80 percent of people fail the test the first time, and it cannot be re-taken for six months. It's easy-ish to get for smart people.
Her husband just died . so she is grieving and she also had the right to rescind the offer. Hence the company immediately backing down and paying her attorney fees. If they were in the "right" they would not have conceded.
@@bekind5738 Bullshit. Her husband dying has nothing to do with this and is just an attempt to make this a sob story when it's purely about a voluntary purchase-sale agreement.
My moms neighbor in Arizona did the same thing. They wanted to sell their home to move to Mexico and they sold it to a similar company. They came and offered her about $170k and they took it. They thought they got a great deal; same company sold the same house less than a year later for 296k. When they sold it for 170k I told my mom that they could have easily sold it for about 250k in the open market.
These companies do this a lot. I get calls all the time or texts to sell condo only worth 120k, I tell them 250k cash, firm. If can't do it stop harassing me.
A realty company somewhere in California tried to lowball the sell of my home in 2020. The realty co. was strict on the selling price so they could secretly purchase it and flip it for 100k more. I figured out their tactic and found an honest realtor and sold for a record deal in my location. Sellers, shop around for a realtor you can work with, preferably one that will cater to you and your ideas of the sell.
The nerve of some people to call the news and complain about the consequences of their foolish choices astounds me. She was lazy and wanted money immediately instead of selling her home the traditional way and couldn't even be bothered to look at comparable properties recently sold to determine her homes value.
I'm glad this ended up working out for her. I understand that she was in a tough space emotionally - losing one's spouse is terribly difficult. We can make very bad decisions when we're in pain. But if you're overwhelmed, ask family or friends for help. Or just call a realtor for an estimate or look-up online what comparable houses are selling for.
I have a Condo in California, A 2 bedroom and 2 bath. I get many offers in the mail where they would buy your house no matter-what condition. I throw them away. I do not trust these buyers.
There are companies that absolutely prey on people like her. They come up with a number that they know is so low that they almost feel bad for offering it to the client, but they do anyways. They know exactly how low it is, but they don't care. Absolutely despicable. I know exactly how I would deal with that if someone did that to my parents.
I live in the ghetto in San Bernardino,Ca and my House was appraised at $400,000. And I'm not selling. I have access to the beaches, mountains, deserts and employment opportunities in Los Angeles and OC. Huntington Beach is a 45 minute drive from House. Big Bear is 30 minutes away. I think I'll stay right here.
Sorry, she’s an adult. She chose not to contact her kids, not to get a an agent, not to check comparable values, etc….She called them, they didn’t call her. People sell for less all the time because they just want quick deal
She was scammed twice. The first time she dodged it and was able to weasel out of that low ball deal. The second time, she was taken, but made about $90K more. This home is clearly worth over $500K.
@@hamsterdiving7593 the average person is gonna be blindsided when their home goes down in value, this is my second time living in Vegas and these houses are maybe worth 200k. The build quality it horrible, ill never pay for a house made with wood and stucco foam bullshiit,
She's lucky she got out first deal, but 2nd deal was out in open market so she got fair price... we don't know her location can't say worth over $500k...
@niceguy6837 *Yes, now multiply that times every home bought in the last few years around the COUNTRY -- All that quickie-qrappy qonstruction. People are in for a nasty surprise when they try to sell...* *They ALL overpaid*
This is exactly why new widows and widowers are advised not to make any major decisions or sign any contracts in the first year after losing their spouse.
In Nevada, the cooling-off period is five calendar days after the date you executed (signed) the contract.. This I just found on the internet I believe in California it's 3 days but you'd have to read the actual contract If the owner is under duress Or is mentally incapacitated there's additional Laws regarding that but it's best to read the entire contract and probably best just to have a good lawyer read it with you 😊
She was vulnerable at the time, she just lost her husband, and wasn't thinking about anything else but moving to be near her family. Thank God her son found out!
she was in her right mind, she wanted out of the house fast, she did zero research, she did not hire a lawyer. they gave her an offer and she took it without a second thought. she was NOT scammed, she is just a moron.
Never sign until you read and understand what you are signing. If you are approached by a business and you sign...,some states allow 72 hours to back out depending on the type of transaction.
She understood what she’s signing, she just didn’t know what value was her house. All her fault for rushing to sell and not consult an agent. No scam here.
A house that’s in good condition is not one to be given away just because you have to sell, that’s why you have realtors. On the other hand, some homeowners want top dollar for run down homes that have to be completely gutted. If your house is in great shape , get a realtor and don’t listen to the hedge fund managers that want to lie ball you. The people that wanted to buy the house knew they were wrong, very wrong, when they refused to take her calls, that meant they wanted to basically steal the house from under her.
*OH, MAN -- ALL HOMES ACROSS THE NATION ARE WAAAYYY OVERPRICED RIGHT NOW. SHE'S ACTUALLY LUCKY SHE'S GETTING OUT NOW* *JUST WATCH WHAT HAPPENS IN THE COMING WEEKS AND MONTHS. PEOPLE ARE GOING TO BE SHOCKED WHEN THE SAME THING HAPPENS TO THEM...*
This is why you need an agent. I understand selling it yourself but we have networks available to us to determine value. And us working on commission gives us every incentive to have an accurate pricing.
I didn't do my homework and my son was upset with my decision to sell at what was offered. Now I'm getting another 100K because I did homework the 2nd time around.
I sold my house in Texas last year. $52k. But it was a 1974 double wide manufacturer home. Not in the best shape. A little more than a half an acre. A realtor thought a might cound have gotten $80k.
OMG I know, right? I'm so thankful the local outlets still do actual news. The corporate media is just about division and selling what the elites/establishment want sold to the public. Outlets like these and the independent media that have been picking up the slack are the ones who should be getting the Emmy's today.
I’m shocked that they let her out of the deal, she signed a contract without doing any due diligence. I don’t blame the company trying to buy it off of her at all, this should not be news.
The offer was low because it was an as is cash offer. The buyer was willing to close quickly and taking all the risks. There was no inspection and no financing and they waived all contingencies. The higher offer likely had all that and took 45 days to close plus closing costs. You have to decide for yourself what is important to you. In the first deal the seller got terms and the buyer got their price. In the second deal the seller got their price, but the buyer got their terms.
This sounds like a benign situation. In more malignant case, if you had a cancer, you would receive letters EVERYDAY, telling you that your house is in foreclosure and the attorney can help representing you (even if you already paid off and not in debt). This is what I have experienced.
I get tons of calls asking if I'm interested in selling my home. I always tell them "Sure! I'll take 1.2 million for it... it's worth maybe a 3rd that... they never call back lol
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the main thing these home buying companies achieve is that seller can make a fast sale, no showings or deal with a lot of people going through their home, and all cash, NO REPAIRS, and probably less or no realtor commissions. This is appealing to some people even though yes, like this lady, she would have received less than going through a regular real estate transaction (where she had to do 50 showings before her house sold). There's pros and cons in each type of transaction. In the typical mainstream realtor type of transaction, you usually have to do a ton of repairs and other stuff to get the house sold, esp. if the house is an older home or in need of "updates" that "modern" buyers seem to demand when they walk in (i.e. bath and shower upgrades, granite counter tops blah blah). So while she may have felt "low balled" by the first deal, she leaves out the various things she would NOT have had to do in that fast all cash sale. All cash means no repairs, sold "as is" which is very attractive or can be depending on your situation. So, it just depends on what YOU, the seller, want to achieve in the deal. And I wonder if she actually made more in the second sale. Just depends on the amount of the broker commission, the repairs required (if any), etc. or other fees that maybe the first deal wouldn't have required.
>man works his whole life to build a home for his family >woman takes possess of said home after husband dies >immediately destroys everything he worked for
Who in the world is so ignorant that they don't even know the value of their own home? Who enters into any type of contracts or agreement for something so important without doing any research whatsoever? This is nobody's fault but her own. There's predators out there of all kinds, it's up to us to be vigilant and protect ourselves. This is a little ridiculous to me.
This was this dippy woman's fault. She was not "preyed" on. She responded to an ad. Apparently she did no research in advance of this deal. I am surprised the company gave in so quickly. Probably cost more in legal fees than to try to fight it. I don't even see the point of this as a news story except to warn people to do their due diligence before selling their home to anyone.
What a waste of a news report. Woman sells her home then has second thoughts because her family is greedy. The reason the first price was not market value is because the company buying it takes the home "as-is" and makes all the needed repairs, refurbishes, cleans, does landscaping etc... It is very convenient for a homeowner who just wants to sell quickly, move and avoid hassles. This news report has done a disservice to the real estate industry.
Honestly, the difference in price in not astronomical. The tradeoff is that it's very quick and easy, and also doesn't count the money and time spent for a realator and showings. It's absolutely fair that a middle man, if you choose to use them, should turn a profit. Sounds like they were the ones cheated here, scared into paying her lawyer too which was too much.
I'm going to assume her husband handled all the business and she didn't know anything about her household finances. Being a ditsy housewife isn't cute.
She wasn't 'scammed'. She made a dumb decision, willfully, that came from her own brain. She signed a contract & that should've been end of story. She's lucky she got out of it.
ABSOLUTELY RIGHT!
100%@@cindyrussell7958
Those companies lie and deceive and manipulate . How would you like them taking advantage of your grandmother in one way or the other.
Nobody said she was scammed.
That buyer was too kind. I would've taken her to court and enforce the contract, not pay for her legal fees 😂
This was her fault for not doing her research or even discussing with her family before. It was an emotionally based decision and a very very bad one! Anyone looking for a quick way out is always prey.
Totally agree...
65 y old acting like A 10 y old
She kucky
Exactly.
@@mike-dl3qr. Hey be careful crossing the street. And don’t look down a loaded gun.
It was her fault, she’s lucky not only the buyer allowed her to back out to the contract but paid for her lawyer fees. That’s pretty much unheard of nowadays. IMO
Yup she almost lost out on an extra $100,000 because she didn't go with a realtor !!
Yep, how do people not understand what it means to "sign a contract"...she really thought people can just sign a contract and then just change their mind? She's very lucky it went this way. And doubt she'd be so forgiving if someone else signed a contract to her benefit and then they just decided to change their minds.
No need to use a realtor. She could have looked herself at what the similar houses were selling for. Or hired an appraiser for a few hundred dollars. Of course, she didn't know what she was doing so might not have been able to sell FSBO unless the buyer was savvy. Nothing really wrong with those companies but I'm not dumb enough to do business with them.
That was a miracle.
Love and take care of her and never let her make big decisions involving money on her own!
They didn't scam her! They made her an offer, and she knowingly accepted it. There is no victim here.
Said a scammer.
Nice projection.
@@DM-il1hf nope, just wearing my big girl panties. 😉😊
@@DM-il1hf B.S. You're prolly the buyer omg.
However, she was "havin a good ole time" what a dippy thing to say when you're selling your single biggest asset.
She was the perfect mark for a low balling flipper. She fell for the bait, took it and ran.
Well said. They forget about realtor fees and the headaches of selling. No scam just an offer
She should have gotten an appraisal before she agreed
Have you priced an appraisal recently?
She could have gone to Zillow and found out for free.
@@troy3456789 either way she could have found out
Should hire an attorney.
@@troy3456789 Exactly! All she had to do was run the comps in her neighborhood. As long as her house was basically in the same condition as the homes around her, it would of given her a pretty good idea of what her house was worth. Which is fairly easy to do anymore today. Just saying...
Actually this is nothing compared to all the money that was made & lost between buyers & seller's back when the housing market crash in 2008. Due to the subprime mortgage loans created on Wall Street by the lip service from a few con artist mortgage brokers who had the idea to give everyone & anyone a loan. Houses in Vegas that were once appraised at the time for a million dollars+, were giving them away & selling for 3 to 4 hundred thousand dollars. People who had the money were making a killing off the financial instability of others back then. Real Talk!
She's not old or senile, just stupid. It doesn't take much to get an estimate on the value.
She seems like a nice lady but may be the kind of wife who let her husband handle all these kind of things so she probably had little experience with selling a house. Obviously should have spoken with her son before and not after. Good for her that she was able to get a good lawyer that scared them enough that they paid her lawyer fees. So happy ending for her.
@@lajinkccat8995 She's able to run to the news about her house, she could have easily called a real estate agent about selling. She's no victim, she made bad decisions.
Too trusting that they would offer her what it was worth
Seriously. I get phone calls and emails all the time from people trying to tell me the value of my home. I don't even own a home.... Can't be that difficult if they're literally trying to value homes that don't even exist...
@@BeccaHetrick Tell them you will take a million dollars, cash only on the front porch in a brown paper bag
Part of being an adult is being responsible for yourself. If you sell something and dont bother to find out what it's worth, that is on you only.
Damn that lawyer scared them into paying for her attorney fees 😂😂
Exactly
That lawyer was a good lawyer she's lucky.
They didn't want the bad publicity so made themselves look better by apologizing and paying her legal fees.
Saul Goodman is real
@@phillhuddleston9445 this
I 100% agree with other comments she’s NOT a victim here, and she wasn’t scammed.
She got an ad in her mail box and she wanted to sell it fast. So she’s surprised the offer from the mail was a low ball offer??? Well then don’t try to sell fast, don’t respond to mail offer, invest your time and energy and sell for more!
Nobody said she was scammed. Pay attention.
That wasn’t a scam. They made an offer and she accepted it. It was on her to know the value of her house. I think what she got for it was still low
Yes, she lost her husband; I am sure she was completely lucid like you are right now.
She got low balled, lucky it wasn't Rick from Pawn Stars or Chummily he won't give a penny more.
it was a good thing that she contacted her son.
Nobody said this was a scam.
It's a scam because they don't offer the true value of the property. They do this every day looking for people like her that don't do their research. If it wasn't at least unethical, they wouldn't be paying to make the story disappear as quick as possible. Yea, they already went into "not returning her call" phase but that attorney got their attention. GTFO.
Nobody "preyed" on that lady. She reached out to that company and willingly signed. I would not have let her out of that contract.
I would be very careful with your lack of love, compassion and the value of $ VS kindness and Love.
In most states the lady would have to honor her contract.
Tell us you're a heartless P.O.S. without telling us you're a heartless P.O.S.
@@cuencaview8303meanwhile she only wanted to back out because of $$. If they had been overpaying her for the house, she wouldn't be complaining.
She is a woman in the eyes of the law women are StupidAnd people take advantage of them because they don't have a man to do the thinking for them.
She is childlike. Even at the end, she says "you don't have to hire a realtor." She's the kind of person who overpays 5,000 for a car, but brags that she made the dealership give her an extra free baseball cap as part of the deal.
And she’s right….. you don’t have to have a realtor as long as you know what you’re doing
@@jphickory522 Most people don't know what the hell they're doing.
Or maybe she is older and not mentally ok.
but she doesn't know what she's doing@@jphickory522
Her husband probably took care of most of that stuff
Crazy I still remember homes like those going for no more than $85,000
Thanks to Biden
I'm in LA. I've met soooooo many people who sold there house for a million bucks and then were pissed when a company came in, renovated, and profited. A lot of these sellers were gentrifiers and themselves bought their houses off other people for 300K--occupied for less than 5 years--and turned a profit. But they STILL act butt hurt.
Greedy fucks
I don't see what the issue is.
@@Law19157 SCUMBAG sht. Thats the issue.
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@@216Numbskull I heard that NUMBSKULL. 🤡. God doesnt like ugly. Ngas like u has to answer to that nonsense u speak of
I get calls from these companies every week and my house isn't even for sale. Sometimes I give them a price slightly above the estimated market value and I never hear from them again.
Yes, They call me at least once a week too, but my house is not for sale. I don't know how they pick someone to call.
We're in our house almost 50 years and always do a lot for the upkeep. I always tell them that if I would sell, I certainly
would not sell it to someone calling me over the phone.
@@paelzermaedche-px4qd Since they know my name and address, I concluded that they check the public records and call everyone who owns a property.
just say a million dollers and you will never hear again
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
@@LionTowercoporation I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
My Financial adviser is ‘’Colleen Janie Towe’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks for the contributions, I will look her up online and do my due diligence. If She seem proficient. I`will write her an email outlining my financial objectives and scheduled a phone call.
EVEN THOUGH SHE MADE A BAD DECISION TRYING TO HASTILY SELL HER HOME; SHE'S SMART TO INFORM THE CONSUMERS AND THE COMMUNITY ABOUT ACCEPTING LOW BALL OFFERS!!!
This was 100% her fault. She should be embarrassed going on the news telling the world about it.
I'm sure she is BUT so glad she is sharing her story to help others!
That didn’t sound like a scam. It sounds like this lady just made bad business deals and didn’t make sure to speak to someone to make sure she was out of it. The buyer did not have to let her out of the contract. It’s a contract for a reason because people do NOT have the right to back out of deals in hindsight. The buyers definitely didn’t have to pay her attorney fees! You should be so lucky to find any company that would do as much as that company did!
It didn't start as a scam, but the moment the people she made a deal with went incommunicado, they violated their fiduciary duty. You can lose your broker license for that kinda crap.
The broker license take 4-6 months to obtain.. bahahah... you act as if it's soo hard to obtain.
@@teenyverse7707 When it's your livelihood, losing it is a big deal. Also, about 80 percent of people fail the test the first time, and it cannot be re-taken for six months. It's easy-ish to get for smart people.
It doesn’t apply when that company was buying it as a principal. You don’t need to be licensed to buy a home.
@@playapnoyx05 Principal or not, eventually you need a broker, or at least an attorney to fill out the contract to buy and sell.
Cash buyers need zero licenses.
She wasn't 'preyed on'! She didn't do her homework.
In her area she could have gotten one for less than $500.
Her husband just died . so she is grieving and she also had the right to rescind the offer. Hence the company immediately backing down and paying her attorney fees. If they were in the "right" they would not have conceded.
@@bekind5738 Bullshit. Her husband dying has nothing to do with this and is just an attempt to make this a sob story when it's purely about a voluntary purchase-sale agreement.
She signed a contract. The company should be commended for letting her out of a binding contract. And gratuitously paying her attorney fees.
It's not a sketchy deal. It was a bad decision.
My moms neighbor in Arizona did the same thing. They wanted to sell their home to move to Mexico and they sold it to a similar company. They came and offered her about $170k and they took it. They thought they got a great deal; same company sold the same house less than a year later for 296k. When they sold it for 170k I told my mom that they could have easily sold it for about 250k in the open market.
These companies do this a lot. I get calls all the time or texts to sell condo only worth 120k, I tell them 250k cash, firm. If can't do it stop harassing me.
boomer problems, they think homes are still affordable and that the younger generation just aren’t working hard enough to be able to afford a home
A realty company somewhere in California tried to lowball the sell of my home in 2020. The realty co. was strict on the selling price so they could secretly purchase it and flip it for 100k more. I figured out their tactic and found an honest realtor and sold for a record deal in my location. Sellers, shop around for a realtor you can work with, preferably one that will cater to you and your ideas of the sell.
I've had nearly 720 days in a row with scammers calling trying to buy my Scottsdale vacation home. SICK of all of these calls!!!!
You counted? 😂
Buy a phone with blocking capability which I did and all the nuisance calls disappeared.
Rule number one never ever respond to an ad in the mail especially the ones buying anything from you. They will screw you over so royally.
Only if you let them. 🙄
This is why you must make sure your spouse knows the value of your home, how the family finances work, etc.
That company needs to be investigated.
The nerve of some people to call the news and complain about the consequences of their foolish choices astounds me. She was lazy and wanted money immediately instead of selling her home the traditional way and couldn't even be bothered to look at comparable properties recently sold to determine her homes value.
Which makes you wonder if she killed her husband to sell the house right away 🤔
I'm glad this ended up working out for her. I understand that she was in a tough space emotionally - losing one's spouse is terribly difficult. We can make very bad decisions when we're in pain. But if you're overwhelmed, ask family or friends for help. Or just call a realtor for an estimate or look-up online what comparable houses are selling for.
She should have called her son before signing papers.
Never sign a contract with shady companies to sell your house. You'll ending pay to them more than you think
Always talk to your kids first when you are older
I have a Condo in California, A 2 bedroom and 2 bath. I get many offers in the mail where they would buy your house no matter-what condition. I throw them away. I do not trust these buyers.
There are companies that absolutely prey on people like her. They come up with a number that they know is so low that they almost feel bad for offering it to the client, but they do anyways. They know exactly how low it is, but they don't care. Absolutely despicable. I know exactly how I would deal with that if someone did that to my parents.
I live in the ghetto in San Bernardino,Ca and my House was appraised at $400,000. And I'm not selling. I have access to the beaches, mountains, deserts and employment opportunities in Los Angeles and OC. Huntington Beach is a 45 minute drive from House. Big Bear is 30 minutes away. I think I'll stay right here.
No scam she got in a hurry
Still a scam.
Sorry, she’s an adult. She chose not to contact her kids, not to get a an agent, not to check comparable values, etc….She called them, they didn’t call her. People sell for less all the time because they just want quick deal
OMG, she definitely had Angels watching over her.🙏🙏🙏🙏🙏🙏🙏🙏
She was scammed twice. The first time she dodged it and was able to weasel out of that low ball deal. The second time, she was taken, but made about $90K more. This home is clearly worth over $500K.
*LOL. ALL homes are waaayy overpriced...watch what happens in the coming weeks and months*
So 50 people came and 20 made offers $120k+ under market value? Highly unlikely
@@hamsterdiving7593 the average person is gonna be blindsided when their home goes down in value, this is my second time living in Vegas and these houses are maybe worth 200k. The build quality it horrible, ill never pay for a house made with wood and stucco foam bullshiit,
She's lucky she got out first deal, but 2nd deal was out in open market so she got fair price... we don't know her location can't say worth over $500k...
@niceguy6837 *Yes, now multiply that times every home bought in the last few years around the COUNTRY -- All that quickie-qrappy qonstruction. People are in for a nasty surprise when they try to sell...*
*They ALL overpaid*
This is exactly why new widows and widowers are advised not to make any major decisions or sign any contracts in the first year after losing their spouse.
Never make a huge decision after the death of a love one. Wait at least a year.
In Nevada, the cooling-off period is five calendar days after the date you executed (signed) the contract..
This I just found on the internet I believe in California it's 3 days but you'd have to read the actual contract If the owner is under duress Or is mentally incapacitated there's additional Laws regarding that but it's best to read the entire contract and probably best just to have a good lawyer read it with you 😊
372k less commissions 18k 5k in closing 349k net VS 284k 15% under market for a quick cash sale is not ripping anyone off
Glad this ended well for her , it's not often things end well.
If the Buy As Is firm countered at $284K from $270K, it sounds like a binding contract wasn’t in place.
She was vulnerable at the time, she just lost her husband, and wasn't thinking about anything else but moving to be near her family. Thank God her son found out!
she was in her right mind, she wanted out of the house fast, she did zero research, she did not hire a lawyer. they gave her an offer and she took it without a second thought. she was NOT scammed, she is just a moron.
Never sign until you read and understand what you are signing.
If you are approached by a business and you sign...,some states allow 72 hours to back out depending on the type of transaction.
She understood what she’s signing, she just didn’t know what value was her house. All her fault for rushing to sell and not consult an agent. No scam here.
A house that’s in good condition is not one to be given away just because you have to sell, that’s why you have realtors. On the other hand, some homeowners want top dollar for run down homes that have to be completely gutted. If your house is in great shape , get a realtor and don’t listen to the hedge fund managers that want to lie ball you. The people that wanted to buy the house knew they were wrong, very wrong, when they refused to take her calls, that meant they wanted to basically steal the house from under her.
*OH, MAN -- ALL HOMES ACROSS THE NATION ARE WAAAYYY OVERPRICED RIGHT NOW. SHE'S ACTUALLY LUCKY SHE'S GETTING OUT NOW*
*JUST WATCH WHAT HAPPENS IN THE COMING WEEKS AND MONTHS. PEOPLE ARE GOING TO BE SHOCKED WHEN THE SAME THING HAPPENS TO THEM...*
Tell us the name of the company!!!
Any of those advertising they will buy homes any condition are totally sketchy period. Best to go through a reputable broker.
This is why you need an agent. I understand selling it yourself but we have networks available to us to determine value. And us working on commission gives us every incentive to have an accurate pricing.
Contract were signed. She learned her lesson the hard way. Great that first company allowed her to rescind that contract.
She's 100% at fault here. But man, I need to hire her lawyer
$372k still seems kind of low.
probably due to the area. I'm pretty sure her son was there for this transaction.
she never agreed to a sale how can they go into escrow?
It's her fault. That contract was a binding and legal contract. This method of real estate transaction is called " wholesale"
2 mins of research online will tell you approximately what your house is worth.
On a side note: They excessively over-built around Las Vegas. I kind of like the way it was up to about the year 2000.
Great Story with happy ending!
You can beat they fished for her as a seller , losing a spouse can be heartbreaking beyond words . Those who are hard on her , shame , SHAME .
It’s obvious her husband was the financially responsible one.
I didn't do my homework and my son was upset with my decision to sell at what was offered. Now I'm getting another 100K because I did homework the 2nd time around.
I sold my house in Texas last year. $52k. But it was a 1974 double wide manufacturer home. Not in the best shape. A little more than a half an acre. A realtor thought a might cound have gotten $80k.
Glad this had a good ending
Stupid people always win.
Thank you for this story. News you can use.
OMG I know, right? I'm so thankful the local outlets still do actual news. The corporate media is just about division and selling what the elites/establishment want sold to the public. Outlets like these and the independent media that have been picking up the slack are the ones who should be getting the Emmy's today.
Signs a contract without even getting a valuation on the home. The only thing she's a victim of is her own stupidity.
In San Diego, cheapest is $580,000
No one should ever buy or sell a home to anyone without a lawyer present! Especially, since all the rules are changing.
that's total bullshit, i wouldn't have backed down on the deal and force her hand. she was not scammed at all, it's a fair contract
What was the scam? Someone made her an offer and she accepted it.
That's why you use a Realtor!
Good on her.
That's a $150,000 home....PERIOD!
Not in 2023
Selling your home without a Realtor is about as wise as representing yourself in a felony trial.
Years ago, I had one of those home buyers appraise my house for fun.
They offered 1/5th of the value! 😆
I’m shocked that they let her out of the deal, she signed a contract without doing any due diligence. I don’t blame the company trying to buy it off of her at all, this should not be news.
The offer was low because it was an as is cash offer. The buyer was willing to close quickly and taking all the risks. There was no inspection and no financing and they waived all contingencies. The higher offer likely had all that and took 45 days to close plus closing costs. You have to decide for yourself what is important to you. In the first deal the seller got terms and the buyer got their price. In the second deal the seller got their price, but the buyer got their terms.
The quick sale company said, "Have a good day. It's on us."
This sounds like a benign situation. In more malignant case, if you had a cancer, you would receive letters EVERYDAY, telling you that your house is in foreclosure and the attorney can help representing you (even if you already paid off and not in debt). This is what I have experienced.
At least she should have consulted with her son before signing anything.
I get tons of calls asking if I'm interested in selling my home. I always tell them "Sure! I'll take 1.2 million for it... it's worth maybe a 3rd that... they never call back lol
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the main thing these home buying companies achieve is that seller can make a fast sale, no showings or deal with a lot of people going through their home, and all cash, NO REPAIRS, and probably less or no realtor commissions. This is appealing to some people even though yes, like this lady, she would have received less than going through a regular real estate transaction (where she had to do 50 showings before her house sold). There's pros and cons in each type of transaction. In the typical mainstream realtor type of transaction, you usually have to do a ton of repairs and other stuff to get the house sold, esp. if the house is an older home or in need of "updates" that "modern" buyers seem to demand when they walk in (i.e. bath and shower upgrades, granite counter tops blah blah). So while she may have felt "low balled" by the first deal, she leaves out the various things she would NOT have had to do in that fast all cash sale. All cash means no repairs, sold "as is" which is very attractive or can be depending on your situation. So, it just depends on what YOU, the seller, want to achieve in the deal. And I wonder if she actually made more in the second sale. Just depends on the amount of the broker commission, the repairs required (if any), etc. or other fees that maybe the first deal wouldn't have required.
>man works his whole life to build a home for his family
>woman takes possess of said home after husband dies
>immediately destroys everything he worked for
So sorry
Ahhhh, yes. The old _quick and easy_ way. NEVER a good idea. AND, they came to HER door.
That home would pull about 2.5 to 3 million where I live in Markham, Canada.
Who in the world is so ignorant that they don't even know the value of their own home? Who enters into any type of contracts or agreement for something so important without doing any research whatsoever? This is nobody's fault but her own. There's predators out there of all kinds, it's up to us to be vigilant and protect ourselves. This is a little ridiculous to me.
What’s the name of the real state company to be aware?
This was this dippy woman's fault. She was not "preyed" on. She responded to an ad. Apparently she did no research in advance of this deal. I am surprised the company gave in so quickly. Probably cost more in legal fees than to try to fight it. I don't even see the point of this as a news story except to warn people to do their due diligence before selling their home to anyone.
That is the whole point. Also that attorneys can fix things sometimes with just one phone call, quickee quickee.
Called one of those places. Said they loved my home. They were over 4hrs. away. Never saw the house but would pay for references.
One quick Zillow search would have prevented this.
NO--- Zillow is often far off as they are with my home = off $300K
Should’ve done her research & be patient
What a waste of a news report. Woman sells her home then has second thoughts because her family is greedy. The reason the first price was not market value is because the company buying it takes the home "as-is" and makes all the needed repairs, refurbishes, cleans, does landscaping etc... It is very convenient for a homeowner who just wants to sell quickly, move and avoid hassles. This news report has done a disservice to the real estate industry.
She sold it for an extra 100k and she spent nothing on repairs or refurbishing. You are clueless.
@@stuwest3653 _"she spent nothing on repairs or refurbishing"_ - ➡🤡⬅. Did you buy the house? Stop making stuff up.
@@stuwest3653 As far as we know, I agree.
Happy ending. Glad she got out of the scam and got a fair deal for her home. 🙂
Honestly, the difference in price in not astronomical. The tradeoff is that it's very quick and easy, and also doesn't count the money and time spent for a realator and showings. It's absolutely fair that a middle man, if you choose to use them, should turn a profit. Sounds like they were the ones cheated here, scared into paying her lawyer too which was too much.
I'm going to assume her husband handled all the business and she didn't know anything about her household finances. Being a ditsy housewife isn't cute.