HomeVestors Reviews

HomeVestors
( 9 reviews )

HomeVestors, the company behind WeBuyUglyHouses, is the operative side focused on selling homes they have acquired. Through this company, individuals can start up their own franchise and take advantage of investment opportunities within the real estate market.

 

HomeVestors franchisees can be described as individuals who flip homes; a majority of these homes are pre-owned distressed homes located in established neighborhoods.  Most of these investors will fix up the homes they purchase and then sell them for a profit, others may buy homes to rent or buy a home which they lease to its original seller.

  

 

There are over 300 franchise locations across 37 states. The base cost of a franchise is $46,000; in addition there are monthly fees, advertising fees as well as a fee when a house sells. It is estimated that initial commitment of at least $200,000 should be expected by those interested in starting up a franchise with HomeVestors.

 

The affordability of houses sold through HomeVestors has made them especially attractive to first time home buyers.  Since they are partnered with financial institutions they can provide mortgage financing with little to no money down. This has also afforded those, who struggle with less than perfect credit, an opportunity to buy a home.

 

Homes sold by the company may be move-in ready or may only be partially fixed up. Franchisees are required to disclose the home repairs made and issues with the home, to potential homebuyers. Since these homes are thoroughly examined it reduces the chances of a homebuyer encountering unexpected repairs. 

 

While HomeVestors Franchises continues to increase, so have the number of complaints. Many people found that selling their home to the company appeared to be easy and seamless. They signed the contract and were made to believe the transaction was finalized. The amount of time it took to receive a check prompted these sellers to question the legitimately of the sale.

 

These individuals discovered their home was already listed on the market by the HomeVestor buyer; to their dismay, the price in the listing was much higher than what they were offered and agreed to in the contract. Basically, there was no money to pay for the home until it was sold and turned a profit. There were even instances of the HomeVestor buyer backing out of the deal because they couldn’t sell it off.

 

Online reviews also pointed out the high cost of starting a HomeVestors Franchise. The base cost and the ongoing fees for its franchise owners adds up to a considerable amount of money. These individuals can take courses and seminars, offered locally, for a lot less money. Essentially, these franchisees are simply paying to use the brand, WeBuyUglyHouses. 

HomeVestors Customer Reviews

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Wholesalers
October 19, 2020

I am a licensed Realtor and keep receiving their letters treating my last name as my first name. They are wholesalers. They buy properties at wholesale prices and sell them at full retail to make a profit. Working with a licensed professional like myself will always yield more money in YOUR pocket, not theirs.

The most recent text I received from them was to buy my deeded parking space. It is obvious from the text that they did not know if was a parking space. Work with licensed professionals who at your best interest in mind.

NON-DEPENDABLE
August 17, 2020

I LIVE in Portland Oregon

Two Days in a row. August 8-14, 2020

Crooks
July 14, 2020
If someone isn’t offering you the tax assessor value of your property, get away from them! They are viable as a company on the backs of homeowners’ who should have known better than to sell for below market value.

they are horrible
April 30, 2020
i would do less than 1 but that is what's in front of me. They should be prosecuted for what they've done. They buy a house that should be torn down for $35k and then tell you that is what your house is worth. Crooks. They should be prosecuted. It brings down the home values in areas are poor and can't with stand the pressure. I have NO idea which government agency handles this type of crime but it is a crim. Don't deal with them. If your should be torn down, tear it down, don't let the rest of the neighborhood that has taken care of their homes suffer. thanks

Got one of the Post Cards in The Mail To Buy My Home
July 23, 2019

I received post card- I Wasn't interested, just curious.

I asked a lot of question did some research; Sounds like a Ponzi scheme. They tell you they will purchase your home. You sign the contract. They don't give you the cash when contract is signed. They list your property for less than it's worth. If it doesn't sell the Contract is cancelled. In other words they have no money. My advice, List your home yourself.

A S October 08, 2019

May I ask what city you’re in? I think my address was purchased from some unscrupulous former HOA board members in Ventura. My vacation condo is in Ventura, but this card (and other real estate businesses) come to my residence in Claremont. Thanks.

Same card, name, different location and ph#
July 8, 2019

I got the same card. Looks like it's in. Don't disguised as hand written. It's from Robin Milligan but return address is Molalla Or (same state) and # is 888-855-8695.

Doesn't seem legit but can't confirm. It's a shame cause my house is in awful condition.

Who is Robin Milligan?
April 26, 2019
I have received 3 unsolicited post card mailings from a person called Robin Milligan representing HomeVestors. The text of the post cards are all the same with the opening line being: "I'm interested buying your house." The closing line is always "so call me if you're interested in a no-hassle CASH sale." The phone number provided on the post card to call this person is 888-855-8695 but the person answering the call is not Robin Milligan and there appears to be no way to contact this person. I am not interested in selling my house and never contacted this organization or Robin Milligan. I smell a huge rat!

Larry M March 06, 2020

I got the same "Robin Milligan" postcard with an 888 557-1154 phone. The answering service took my info and "Matt " phoned me back with "twenty-questions." The dummy knew nothing about my property - when I asked why all the questions without checking it our before bothering me with his silly postcard, "Matt" replied, I'm trying to decide if I want to buy it." With that, I suggested he call back when he figured it out. "Matt" unleased a chain of vulgarities I never heard in USMC boot camp - he's a frustrated wanna-be real-estate tycoon, I feel sorry for "Matt" Obviously he was sucked into a franchise deal and lacks the people skills to make it work. Poor "Matt."

Arlyn May 07, 2019

I'm holding a card this moment I received from a Homevesters rep named Robin Milligan phone:720.574.2283 address:99 Inverness Drive E suite 140 Englewood,CO 80112. Web: hvamail.com.I live in Atlanta,GA but still own property in Colorado.The Englewood address could be legit. Inverness is the location of a number of office centers.What I think this is an old practice in real estate. They get you to agree to sell (usually no money down and a chunk of your equity) and then sell for a higher point and take a fee from the difference.Usually the other party is known to the agent and there has to be enough in the deal for everyone to get paid except the original seller. Legal? yes technically. Ethical? on occasion it works for everyone, but that's not the point for the agent.He wants a fee and he doesn't want to spend a penney to get it. Quick in and out.Due diligence and good luck.

harrasing mail?
April 19, 2019
I receive a letter every month telling me they want to purchase my house. My house is not for sales it is in good condition and I am not late in payments. I asked them not to send me mail that they are harassing me, I was told it was just like ads for stores sent to me. I was told that I could opt out of the mail but must call the number on the letter. I still think it is harassment and am contacting a lawyer.

Larry M March 06, 2020

The "every month" request to sell" is likely to appease the poor franchisees who are stumbling. Flipping houses via a franchise isn't a good business model. Others do the same thing without all the franchise costs. They're at a disadvantage before their first deal.

Gave It a Try....BUT....
July 13, 2017
I have a home in a desirable neighborhood. My home has always been well taken care of.... but when my daughter and 3 grandkids had to move it, it became quickly apparent that we needed more room. I reached out to HomeVestors because they said that they looked at market value and then would deduct 10% for normal fees (title, plots, realtor buy/sell fees etc)., plus a small amount for "fixing up". Ok Good... So houses in my neighborhood are going for a consistent rate per square foot... The estimator was very polite and remarked on how little would need to be dealt with to make the house saleable... however, when they returned with an offer...it was 10% lower than market to start and then then dropped it another 20% for the basic costs... Wish I'd have known they were that below market to begin with and saved a couple hours of my life doing something else!

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