I live in a 30 year old house with some updates, the kitchen needs a revamp. House needs some work also, nothing structural. I need to downsize, house was fine when the kids were growing. Should I fix it up or go for the quick cash? In the worst case I should easily walk away with $100k plus. Buy something smaller for cash and save around $900 on mortgage payments ( includes tax and insurance) There is a good chance there were will be no best answers on this but I really do appreciate any thought on this no matter how small.
Genuine Guidance2009-07-31T02:01:07Z
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The "We Buy Problem Houses" or for cash are going to really lowball you. At the very least, they will offer you 30% less than the going price in your market. If you have a good chunk of equity even with them undercutting the price drastically, it might be the way to go if you don't want to deal with trying to sell it.
They are for real but they will offer a really, really low ball price for your house. Their intention is to fix it up and resell at a profit. They don't charge to tell you what they will pay for your house and then you can decide if you want to accept that amount. I'd also ask a real estate agent familiar with your area to give you an idea of what they think the house would sell for.
Those buy your house for cash ads are people who are looking to get places for about 50-60% of value on the open market. I'd get a few more opinions before I went for the quick cash.
I would personaly get ride of the house. You have to think out of what is best for you and seeing as your kids are grown I would down sizes but that's just me, Plus you'll be saving in the long run and seeing as you have already bought a house before you could get a better deal in the long run. Good luck!!