Beware Of House Wholesalers

Beware Of House Wholesalers
Ben Souchek:

Beware of wholesalers! If you are considering selling a house, the one message that I would have for you today is to be aware of wholesalers.

Hi, my name is Ben Souchek. I’m with The Sierra Group Pro Home Buyers. I just left an appointment with an individual that is wanting to sell their house in its as-is condition. It hasn’t been updated for a while, and certainly does need some updating and some repairs.

But they had the unfortunate situation of responding to an ad online from a company that stated that they buy houses. But after speaking to this person, she explained how this company was actually out of Los Angeles, but they told her that they had local people here in Kansas City, in this instance, that could help them out.

And so, they made an agreement for a price that she thought was very good. She really liked the price and was surprised that they were going to pay that amount of money.

The company asked her to send them some pictures of the house. The company never looked at the house, of course, and they never had anyone here locally look at the house. But going off of her pictures, they entered into the agreement.

And unbeknownst to the home owner, all of a sudden their property was listed on the MLS (Multiple Listing Service) and on Zillow. And so that was quite a surprise to this homeowner to see someone else marketing their house, when this other company was supposed to be buying their house.

When she confronted the company, the company of course just said, “Well, that’s the way that they sell houses.” And of course this isn’t anything of what she was expecting.

And when the time came and went that the company was to close and buy the house, they came back and they tried to renegotiate a much lower number, because of course the wholesalers could not get anyone interested in the property for what they were trying to market the house for.

So, this couple moved out of the house, has a vacant house sitting, and was dealing with a company that had no interest in buying the house, no intent on buying the house, just a wholesaler trying to flip the contract that did not know their numbers, did not know the area, and therefore did not close on the deal or provide the service. And so this homeowner now is left with the vacant house that they want sold. And so that’s why they called us.

So we have just met with them, let them know the different options that my company can offer. And we’ll see what they decide.

So, my tip for you today is be very careful of wholesalers. Be very careful of people that say they are home buyers that never look at your house. Be very careful if the numbers just seem too good to be true. And especially when they don’t have the local people to look at the house to really know what they’re talking about.

So if you’d like to work with a real home buying company, someone that has cash, that can close as quickly as a title company can check title and prepare the closing paperwork, just give us a call.

Just go to, and we’d be happy to help you in any way that we can. Thank you very much.

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