Friday, February 24, 2017

Honest Advice for Sellers

Here is a real ad that has run recently in Seattle's Craigslist:

If you have real estate you may be selling, PLEASE:
✜✜ Be aware there will be a line of people who have made jobs for themselves of trying to essentially steal your house from you, wasting your time at best, and scamming you at worst ✜✜
Word of the day: wholesaler. These are people who are trying to get into real estate investing, or are comfortable being bottom feeders. Their competitive edge is often found in deception and dishonesty, and after providing you with (not really) "comparable" sales to convince you that your house is worth nothing, they will sign a contract to buy it for much less than it's worth.
But they won't be buying it - they will ASSIGN (sell) the contract to other investors (for a fee) before the sale closes, making money just off the fact that they hoodwinked you. If they don't find a buyer, they walk, and take months of your time with them. Beware of any contract that says "OR ASSIGNS" after the buyer's name. Further, also beware of any sales contract that isn't the standard NWMLS (Northwest Multiple Listing Service) contract.
Also, watch out for contingency or inspection periods, especially longer than 2-4 weeks. This will tie you up for 1-3+ months and then, GUARANTEED, after that period they will want to renegotiate the price based on some problem they "found."
It really is not easy to go FSBO (For Sale By Owner) and be your own real estate agent. Be prepared for a ton of showings, questions, and potentially costly mistakes. Everyone who is selling a house should at least TALK TO A REAL ESTATE AGENT and get a free "Opinion of Value" from them, so you can know where you are starting.
Now, in terms of where I come in: I am a native Seattleite who fixes up and rents houses...
  • Due to my established, long term approach, if you desire flexibility such as continued residence/tenancy or other creative sales terms, we might be a particularly good match.
  • Any offer I make will be a fair, reasonable market offer - no wasted time and no funny business (references if desired)
  • I am able to make both all-cash offers and "seller financing" offers, which turn your house sale into an interest-bearing investment yielding roughly $182k total for every $100k of value while avoiding 25% capital gains taxes
Please, start off by scheduling a free consultation and opinion of value with a real estate agent. Then, before you sign a listing agreement with them, feel free to drop me a line...

I happen to agree that ALL sellers should talk with a professional real estate sales agent like myself, prior to a sale. I look at houses and prices every day, and I understand the Seattle real estate market. There may be many reasons why an off-market sale will make more sense for some sellers than a listing on the NWMLS. But a competent real estate professional will be able to provide options. And armed with good information, a seller is in a better position to make an intelligent decision.

I am happy to provide a FREE, no-obligation, confidential in-home assessment and evaluation of your real estate portfolio, whether that is one home or multiple income properties.

I do buy homes as well as list them, but only if that makes sense for both the seller and me. If you are interested in learning more, please email me at or call my recorded hotline at 888-621-4999.

Happy Investing!

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