Profile picture for 2248morningside

Unsolicited letters to buy my house

I keep getting unsolicited letters from different companies to buy my house.  Has anyone had a good experience with these types of offers?
  • August 20 2013 - US
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Answers (15)

Profile picture for crpmllc
[spam]
  • August 05 2014
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Profile picture for kwanlu
I get those, too. They obviously fish through the local property ownership rolls, inasmuch as they  are addressed under my previous married name, which is Hispanic. (Oddly enough, the "interested buyers" are also purported Hispanic. Sorry, compadre, that just won't wash!) Now, apparently, they have expanded their approach. I received a phone call from someone (a male, despite the unrecognized female name on the Caller ID), who claimed to be working with some attorneys buying properties. He asked if I were interested in selling my home, and, when I shortly said "No!" had the damned gall to demand to know why not! I told him I did NOT appreciate the call (which was placed through a dummy 999 area code phone number), and, further, am on the Do Not Call Registry, at which he hung up. I reported the call, FWIW, to the DNC Registry. (I also suspect that the mention of attorneys was meant to frighten a female "Hispanic" senior citizen into thinking there is something wrong somewhere, and that I should sell while I can. Inasmuch as I just finished a refi, during which I and my property were thoroughly vetted, nice try, jerks!)
  • May 20 2014
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Profile picture for 2248morningside
Thank you to everyone for chiming in!

I followed up with a couple of the solicitations.  I had a conversation with one and told them what I have the house "listed" for here on Zillow.  They sent a letter a few days later saying they weren't able to get any where near my price.

The second company offered a price immediately.  However it was based upon the current taxable amount found on the county tax rolls.

So, in my estimation this would not have been a good experience with either.  Thankfully were not in a situation that requires a quick cash out.  I feel badly for those who are.

Thanks again.
  • September 10 2013
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As an investor, I do send out letters to for sale by owner listings.  I agree that in most cases it is in the sellers best interest to list the property with a realtor to get top dollar. 

But in those instances where the seller needs to sell quickly and receive a cash offer, investors can make this happen.  We also buy less desirable homes that traditional buyers will not buy.  My last purchase was a house where the owner thought they would "fix things" and ended up just tearing the place apart.  It had been sitting vacant for over a year with no offers.  I bought the property and invested in the necessary repairs.  I have a nice renter in it now and the town no longer has a purple eyesore. (Yes it was purple) The house before that one smelled so badly with cat urine.  We had to take all the floor, ceiling, and wall board out and replace it. Again, an ugly (and smelly) house brought back to life.

I think that many assume investors are out to take advantage of people and yes as in any business there will always be those that do.  But we and most will only do a deal IF if is in the best interest of both the seller and buyer.  If not, we refer them to a reputable realtor or broker.  I did just that twice this week already.
  • August 22 2013
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Profile picture for marc jablon

In most parts of the country today, there are far more buyers than there are sellers. The solicitations you're receiving are an indicator that the real estate market is still heating up.

If you're interested in selling your property, call a real estate agent and ask the agent to give you a realistic assessment of what your property is worth.

Because the agent makes a commission only upon the sale of your home, he or she will simply give you a realistic selling price.

It is likely to be higher than the prices that the soliciting companies will offer.  Those companies, however, always buy for cash and there are no mortgage contingencies to worry about.

Also, if your property is in need of repairs that a mortgage will not cover, then you may want to talk to the wholesale purchasers.

However, if the property is in reasonable shape and you are ready to sell it, you may want to work with the realtor.





  • August 21 2013
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Profile picture for blue screen exile
Most of those letters are just "fishing for steals".  They are sent out in bulk with minimal filtering.

If they were really interested in the specific property, they would have sent a written formal offer instead.

I've gotten dozens in the past several years.  They always go straight in they recycle bin if they don't have a formal offer (with the price and terms....)
  • August 21 2013
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Yeah, I think so too, morningside.

  • August 21 2013
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Profile picture for 2248morningside
THANK YOU!  To all of you.

Multiple great points.  All of which I need to follow-up.

I find it interesting and somewhat encouraging that we're receiving these letters now.  The house has been rented out for the last 8 years and in that time maybe two letters of this type have been received; we've received five in the past month alone. 

To my viewpoint, albeit uneducated and quite myopic, I see this as a turn in the market. 
  • August 21 2013
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Well, I have listed and sold two properties this year that received solicitations, and in both cases we netted substantially more than the unsolicited offers would have netted.
  • August 20 2013
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Profile picture for wetdawgs
Zillow has a section called "data coverage and Zestimate accuracy".   Click on the link to get a better idea of accuracy for your area.

  • August 20 2013
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Profile picture for Bert Pope
Have an appraisal done by a licensed appraiser and then send that to the solicitors.
If you want to sell.
  • August 20 2013
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Zillow is ok. The system has its limitations. If your home is in an area where all the lot sizes are similar and the homes have consistent floor plans, Zillow can be pretty accurate. However, if your home is unique (as many are) Zillow's numbers are less accurate. You are better off asking for a complimentary market analysis from a Realtor. Best wishes!!
  • August 20 2013
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Most of these letters come from investors, unless you have to sell really quick, you may want to talk to a local real estate expert. Other wise you will get less than fair market value for your home.

Zillow in my opinion has been accurate in some instances and way off in others. So a local expert will be of more benefit to you.
  • August 20 2013
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Profile picture for 2248morningside
Thank you!

I may be interested. 

With respect to current market, how accurate is Zillow?
  • August 20 2013
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Profile picture for wetdawgs
Are you interested in selling?   If so, have a good idea of the fair market value of your property.   Many unsolicited offers are willing to give you 50% to 60% of the fair market value.
  • August 20 2013
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