Pros and Cons of using the "ugly houses" companies?

Question

Has anyone had any experience with one of those companies that buy "ugly" houses?
Did they offer a reasonable amount enough for you, the owner, to make a decent profit?
Any pros and cons to share?

Answer 1

Be very careful. If you choose this route, at the best you are looking at a fire-sale price. Make sure YOU pick the closing agency and insist that you receive a closing statement from them before you sign anything to commit yourself.

This will most likely kill the deal because they will have untold costs that will reduce your net. They may have not even planned pay off your mortgage in the worst scenario.

Answer 2

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Answer 3

Pro's, you get money faster,
Con's, you don't get the fair market value in most cases.
They are there to make a quick buck for someone that needs money fast. If you have the time, go through a proper agent.

Answer 4

Here's a hint, if your house is in such bad shape that you can't sell it anywhere but one of those companies, don't bother. fix the place up. You won't get more than the land value from them.