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Problem is no one in NYC or any other profitable market will use them, because no seller is going to accept 10-40% lower price AND a higher fee in a market wher
by LordHumungous 10y ago
Problem is no one in NYC or any other profitable market will use them, because no seller is going to accept 10-40% lower price AND a higher fee in a market where it's already easy to sell.
- georgyo 10y agoThey already do. People paying all cash saves the seller at least three months. Sometimes the bank won't close for 8 months because of reason and then denies the application forcing the seller to start from the beginning. People do accept all cash bids for less than asking. People know this, and there are tons of places that will pay all cash for your home right now for less. If you live in a place condo or a house, you will get letters asking to buy the house all cash.
- LordHumungous 10y agoK. So why use opendoor and pay an 8% fee when people are sending me cash offers in the mail?