How long will this venture last for Zillow?
Zillow Offers- Low offers
Here's what they do:
Target single family homes valued around $400000.
There are a number of tools that can be used to access
the previous appraisal, view square footage, check your payment records
and bingo they start advertising to your Facebook account and yahoo email.
You click on their website and read about the too good to be true deal.
Sell your house without cleaning, don't bother doing repairs, no messy people
marching through your house with muddy feet, no agent bugging you for showings.
All you have to do is click and an "evaluator" sets an appointment to view the interior.
So easy peasy.
Excepting when there's a delay in the check, and you realize it's not s six percent
discount for commission; but a twenty percent discount for expenses.
Then you see your home on the market for a huge increase.
Meanwhile your discounted sale appears as a recent sale and reduces the
value of the neighborhood. I guess you can smile on the way to the bank?
Cities where they are active as of October 2019
- Arizona: Phoenix
- California: Riverside
- Colorado: Denver
- Georgia: Atlanta
- Nevada: Las Vegas
- North Carolina: Charlotte, Raleigh
- Texas: Dallas-Fort Worth, Houston
If Zillow is actively buying in your market I want to know how it went. Generally I see them buying a single family house for $300,000. - giving the seller cash gift cards to move fast and re listing for $400000. with no improvements completed. Please respond in comments if you have experienced this as I am tracking for appraisal issues
