The Ugly Truth Behind “We Buy Ugly Houses”

Post by klyrs » Fri, May 12, 2023, 11:36 PM UTC

iudqnolq wrote: post #181

bhouston wrote: post #75

They are a discount buyer, so it is generally a bad deal to use them and you basically shouldn't unless you have no other option. It is similar to getting a pay day loan, or selling stuff to pawn shop or keeping a balance on your VISA. You are going to get a bad deal. I don't really know what to do about it. How can you ensure people are educated enough to know that a discount buyer is a buyer who will under pay for…

In response to this article the company promised to stop suing customers to force them to follow through on sale contracts. That sounds like a constructive change.

Post by gniv » Sat, May 13, 2023, 1:33 PM UTC

BrandoElFollito wrote: post #197

mixdup wrote: post #196

Earlier quoted context omitted.

A notary in France must mean something completely different from a notary in the United States. In the US a notary simply is verifying the identity, and swearing they have done so, of the people signing the document. It's entirely possible and happens all the time that a fraudulent document is notarized.

In France (civil law, different from US common law) a notary is a qualified lawyer whose role when selling the house is to ensure that all the legal aspects are handled correctly (including things as making sure that the technical reviews of the house have been done, that there are specific documents from the city etc.), and to make sure that the people who sign the documents are the ones that are allowed to do so. T…

Post by BrandoElFollito » Sat, May 13, 2023, 2:35 PM UTC

donedeals wrote: post #232

BrandoElFollito wrote: post #199

Earlier quoted context omitted.

In France it is a hard requirement. Also you cannot pay directly, the money goes through the notary (and a special account handled by the government). This is actually a two-step process. You sign a first contract that entirely engages both parties - the only exception is if the buyer cannot get a credit. They have a month (or something like that) to secure it. Then once the funds are there the final contract is sign…

US has similar system called escrow that title companies (a third party) manages.

Post by seattle_spring » Sat, May 13, 2023, 6:27 PM UTC

Dah00n wrote: post #191

wombatpm wrote: post #150

Earlier quoted context omitted.

We are within an 8-10 hour drive from some of the best skiing in the Midwest

Funny, what you see as close enough to make it a good area to live in if you like skiing is enough driving time for me to go from central Denmark to Sweden (including ferry) to ski. To me it would need to be within 30mins to count as a good place to live if you like skiing.

Post by Marsymars » Sat, May 13, 2023, 8:09 PM UTC

poulsbohemian wrote: post #130

tmm84 wrote: post #33

I wish more older Americans understood how these people really work. My parents live in a neighborhood that has gone down hill through the years. They called up a company who did this kind of home buying. Usual visual inspections and the like went on with a quote being issued. They saw the amount was a little over the remaining mortgage which was less than the market value of the house. They decided to ahead of time…

>I wish more older Americans understood how these people really work. I wish more Americans overall understood how real estate works. I see people get screwed all the time because of bad information. Here's an example: several times a year I will talk with a member of the public who will say something like "we want to work with the listing agent because then we won't have to pay as much commission" not understanding…