Homerun Offer — Local services in Enterprise

"Home Run Offer" should change their name to: "LOW-BALL OFFER" or...."STRIKE OUT LAME OFFER"....

We have a 2270 sq ft 2 story on the edge of Summerlin without HOA. We put over $120K improvements on this house. Six years later our house is worth in the neighborhood of close to or over $400K+ compared to comp homes selling around our area when it comes to price per square foot. And, I am not even factoring a full blown $120K plus renovation of our entire first floor and new landscaping.

3 years ago, our realtor contact at Coldwell Banker gave us a suggested market selling price of $335K and he told us that was probably low because he had not yet come over to check out all the renovations and improvements we put on this house.

The Las Vegas market right now is a red hot market. The inventory for available homes for sale in LV is at an all time historic low. People from out of state, especially California, are racing to get over here. We know it. Home Run Offer knows it. We also knew the recent Comps for our immediate area and what houses were selling for per square foot. Despite the fact that LV is a SELLERS MARKET, we decided to see if they were willing to give a competitive offer for our home.

We thought they would at least try to be competitive and not ridiculous. We thought this might be a way to save some time and hassle and sell our home faster.

We were wrong.

Mike Stephenson of Home Run Offer gets to our house ( late) and spends nearly 90 min. telling us what they do to buy homes in LV. I ask how long does it take to get back to us with a quote and he replied,, "One day". Two days later, he finally gets back to us with a quote of $280K!!!!!!!!. i told him that is insane. How in the world does he think that is a reality based number for our home????

it is truly astounding these kind of people have the unmitigated nerve to make such insulting offers. I figure they wait to give you the number over the phone because they can't tell you the number face to face with a straight face.

We decided to consider giving Home Run a chance at making us a FAIR OFFER before going down the conventional approach of an extra 60-80 days of putting it on the market with a regular realtor. When I objected to their bizarre low offer, Mike then hangs up on me in mid sentence and calls back a couple minutes claiming his phone dropped on the ground...uh-huh.

Anyways, for anybody else out there who is considering using one of these instant buy outfits like Home Run Offer, BEWARE. You will burn up and waste valuable time only to get a ridiculous offer that is a VULTURE OFFER.

Don't...

These people have no intention of buying your property they are wholesalers they come into your property where they offer you close to what you would want for it (for me it was 250 thousand dollars) you sign and now they have 7 days of due diligence where right at the end of the due diligence period they tell you their investors can’t do it at the initial price due to what ever they make up (in my instance they reduced the price by 25000 dollars because my properties shared a parcel number that they would have to split when I got a quote from a surveyor to do so they told me it would be 12 to 15 thousand so I asked them about the other 10 thousand and they said because it would take them 6 months to get it done) so I was understanding and signed at the lower price that is when they started showing people my properties to people to buy it (one of them that had already put an offer on my property 3 months previous whose offer I rejected yes I have cameras and can see and hear everything) they don’t fix the issues they sell it to somebody else at a profit and you are the one that loses they are acting as a company that buys properties they are not they are acting as a realtor where their personal commission rate is 10 percent vs the standard 6% that you would pay using a realtor

Update as you can see from their response they said they would not be buying my property but state they are trying to get investors to back it not once did they state to me they were putting it out to a network of buyers and if that was the case then why the 25k reduction in price when it would only cost 15k to separate the units oh because you told me it would take 6 months to do so I also signed your documents that at the top of the document said RESIDENTIAL REAL ESTATE PURCHASE AND...

I worked directly with Ryan and was quite impressed with the honesty and professionalism of him and his team. Homerun was the third company I called. The first was an individual that had been sending regular mailers to me for years (low balled me), second was a national firm (did not feel comfortable. The initial offer was fair but they wanted me to sign paperwork first, then change the offer after an inspector goes through the house). Ryan came out, walked through the house, we talked for a while, then made a firm offer that reflected what I would actually receive (no hidden charges). Had I listed the home with a Realtor, after factoring in commissions, other closing costs, and a fair asking price considering the home was circa 1970 with no updates, Ryan's offer was quite reasonable.

The deal closed in under 30 days and I was able to stay in the home 30 days post closing, allowing me amble time to move and wrap up lose ends in Las Vegas.

Bottom line, if your home is in tip-top shape and you have time to sell and put up with the showings, possible deals that fall out of escrow, etc., you are probably better off listing the property. If you want a no hassle sale and accept the fact your house needs some work, you may want to call Homerun. (BTW, many of the national firms stopped doing deals in Las Vegas due to COVID-19 and the impact on Las Vegas, Ryan, I believe, is one of the few that are still doing...