Real estate can be really expensive. Often a new property comes with new debt, and this can make people impatient to sell their old home and anxious when it takes longer than a few months. Fears of being stuck with two homes can lead individuals to sign on with companies who guarantee to see their home in 90 days. This works through a service known as inducement. Basically, the company guarantees that if no one buys the home within 90 days, they (the company) will purchase it themselves. This may sound like a really great deal and many people are interested in this sort of service because they’re worried about the debt or being responsible for two properties. However, like most things that sound almost too good to be true, inducement is not nearly as good as you may be lead to believe.
This is because the companies providing this service aren’t interested in their clients best interests. While, after the 90 day period is over the company will make an offer as promised, it is usually so far below market value that most people refuse to accept. This puts many homeowners in a difficult position. They will not allow the company to purchase their home, but they’ve wasted both time and money trying to sell their home with nothing to show for it. It is a position I hate to see people in. I understand that it can be difficult to be patient and that fear force people into rash decisions. It’s why neither I nor my brokerage offer this “service.” I would not allow my own property to be bought below market value, so I will not allow it to happen to my clients either.
It can be a challenge to find a real estate company and realtor that care about your property and wellbeing. It is both my pride and privilege to strive to help and care for my clients to the best of my ability. In this realtors humble opinion, that will never include providing inducements for my clients. Call me today at (403) 660-5319.