What do you think about the guaranteed buy program offered by some realtors who are partnering with new home?

Asked by Kelly, Fredericksburg, VA Sun Jun 22, 2008

builders? As part of the new home purchase, the realtor will buy your home at an agreed upon bottom line price within 4 months, so the new home contract can continue. Thanks.

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Cindy Jones, Agent, Alexandira, VA
Sun Jun 22, 2008
If you haven't already done so you should talk to more than one agent to determine the right market price for your home. Then make sure you negotiate with the builder. Hopefully you took an agent with you when you met with the builder. Builder are negotiating both on price and ammenitites so don't accept their first offer. Good luck!
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Kelly, Both Buyer And Seller, Fredericksburg, VA
Sun Jun 22, 2008
Thanks for your response, AJ & Jodee. The buy out price offered by the realtor is very low, in my opinion. My house will be put on the market at a higher price, thought. If it does not sell after 4 months, the realtor will pay us the buy out price. I think the new home that is part of the deal is very well priced, so you are right, I guess it comes down to if I feel I'm getting a good deal from the home builider and how badly I want the home. Thanks for the info.
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AJ Heidmann, Agent, Arlington, VA
Sun Jun 22, 2008
Kelly, in the programs I have seen, the builder actually buys the property not the aget, but what you're referencing could be different. Irregardless of who actually buys your home, the main question is what are the terms of that sale, are they agreeable to you, and are you paying more for the new home to get this guarantee? From my experience, the price paid through the guarantee is dramatically below the most recent comparable sales. So I think it really comes down to how bad do you want the new place and how well does your current home show?

Hope that helps.
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