How and when do real estate agencies buy houses from their own clients?

Credit and mortgage advice Forums Buying Your Home How and when do real estate agencies buy houses from their own clients?

This topic contains 7 replies, has 6 voices, and was last updated by  Anonymous 8 years, 1 month ago.

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  • #206879


    Has anyone who was selling their house actually had the real estate agency buy it from you? and why? Would they offer you a lower price and then turn around and resell it higher?

  • #271659


    Always remember they are business professionals too!

    They understand the market much better than an average person. They will buy when they see a buying opportunity, one that has a potential, either in price, appreciation or market conditions.

  • #277045


    It’s all about the money.
    They line up someone that wants a house, then they purchase yours from you. They already know they can sell it at a higher price because they have offered it to the buyer for way more than they paid for your house.They make a big profit and don’t have to turn the key. It hurts to think you were duped. You feel cheated.
    They are your agents. They are hired to get you a fair profit, not themselves. Look into it farther in your state. They may have broken a law or code of ethics. You may be entitled to the whole profit they made or part of it.

  • #281451


    Many brokerages will not buy and then resell a property. The conflict of interest is too strong.

    Agents who own a home might have purchased it after getting a license. They generally will not represent the seller in such transactions.

    Some investors hold a license and will buy for resale. In these cases they will not represent the seller unless it is as a dual agent. There is a natural conflict of interest when an agent works for both sides so dual agency is not the best.

  • #435379


    Depends on whether you have replacement coverage, or coverage for current value of contents.

    If you don’t have enough coverage for the damages, you don’t necessarily get the full amount of your coverage, it can be decreased for being underinsured.

  • #435380


    No, you will not likely get a check for $ 154,000. Yes, if you have replacement cost coverage on your contents, they will first pay you the Actual Cash Value (ACV), also known as the depreciated amount. When you replace the item, you will submit the receipt and it will be considered for reimbursement for the amount of difference between the ACV and the Replacement Cost.

  • #435381


    You still have to make up a list.

    But if your coverage limit is $ 154,000, that’s the most you can get.

    Yes, you get the depreciated value of your $ 171,000 up front, and as you replace items, you send in the receipts, and they’ll write checks for the recoverable depreciation, until the total amount hits $ 154,000.

  • #290263


    a friend of mine bought a awesome log cabin from someone who was selling it
    he just liked it so he bought it he put a bid in just like any other buyer

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