Table of Contents

    Mark Spain Real Estate: Do They Really Pay What They Offer?

    Posted by Clark Callen Posted at June 27, 2024

    Selling a home is never easy. You have to list your property on MLS, get offers from potential buyers, negotiate with them, and face all the hassles of closing the deal. A real estate agent can do all these for you, but be ready to shed at least 3%-6% of the sale price as commission. And what if you have a distressed property? Selling a property with a dispute or that involves costly repairs can be challenging.    

    An alternative to selling your home traditionally is via Mark Spain Real Estate, a full-service brokerage firm with nearly 30 years of industry experience. They provide traditional listing services as well as competitive cash offers on your property, tapping into its broad network of investors. This enables you to bypass the tedious listing process and waiting time and close the sale quickly.  

    However, unlike other cash home-buying companies, they do not make a straight cash offer. The company seems to connect you to a real estate agent to represent you during the cash sale – and they will charge a realtor fee for this service. Selling your home to cash buyers does not require paying commissions, service fees, or closing costs.

    So, is Mark Spain Real Estate legitimate? Do they pay what they offer? Is it worthwhile selling your home to them? Know all these and much more in this Mark Spain Real Estate review.  

    Is Mark Spain Real Estate Legit?

    Mark Spain Real Estate is a 100% legitimate real estate brokerage, established in 2016. However, the company has a combined experience of 30 years in the real estate industry. In 2022, they served more than 11,200 families in buying and selling their properties.

    It is also a BBB-accredited company with an A+ rating, which indicates the lawful presence of its business.

    What Types of Properties Do They Buy?

    Mark Spain Real Estate has a “Guaranteed Offer Program” under which you get a competitive cash offer/offers from the company, provided your home fulfills a specific set of criteria.

    • It must be a single-family house built after 1950.
    • The property must have a Fair Market Value (FMV) between $50,000 and $1.5M.
    • Your house must be vacant or owner-occupied and it should not be a distressed property or one that is owned by the bank.
    • The property should not be situated in or near flood zones and must be within the coverage areas of the company.
    • Your home should not have major foundation problems or unpermitted additions/extensions. 

    If it does not meet their eligibility criteria, they will make an offer to connect you to an Exclusive Listing Agent, i.e., listing your property the traditional way.

    Mark Spain Real Estate Coverage

    Mark Spain Real Estate has limited coverage in the U.S., buying homes only in Georgia, Tennessee, North Carolina, South Carolina, Florida, and Texas.

    What is the Process of Selling Homes to Mark Spain Real Estate?

    Discussed here are the steps you have to walk through to sell your home to Mark Spain Real Estate:

    • Provide property details: To submit your home for sale, you either need to call them at 855-299-SOLD or fill up their simple online form. Get an offer by providing your home address, full name, email address, and phone number. You may also need to provide other details about your property when filling up the form online.
    • Eligibility check: Mark Spain Real Estate will verify if the property meets the required parameters as mentioned under the Guaranteed Offer Program.
    • Internal assessment: If the house meets the eligibility criteria, a licensed realtor will visit the property to assess it and walk you through the different options you have. If your home does not meet its criteria, the realtor will likely encourage you to list it on the market.
    • Get a cash offer: The company will make you an initial cash offer based on various factors or they may give you multiple offers, so you can compare and choose the one that best fits your asking price.
    • Close the sale: If you accept the offer, you can close the sale within 21 days or whenever you think is the right time to move out.

    Mark Spain Real Estate Payout

    To determine a fair cash offer for your home, the real estate brokerage firm conducts a Comparative Market Analysis to understand the market conditions and value of similar homes in your neighborhood. The realtor will also consider its location and features to determine your property’s Fair Market Value.

    Though they have not mentioned on their website what percentage of the home’s equity they pay, it is likely that they will pay somewhere from 50% to 70% of the market value. It is the standard payout structure for most cash home buyers in the U.S.

    Mark Spain Real Estate Reviews

    The cash home buyer has an average rating of 4.7 stars out of 5 on Google, with 540 reviews. The company also has a 4.67 out of 5 rating on Better Business Bureau, with 12 reviews. Most customers have appreciated their professionalism and responsive support. However, many homeowners have complained that the company listed their properties on MLS rather than making a cash offer. This made the process tedious and time-consuming.

    Some customers have also complained that they had to pay a service fee for realtor representation of their properties during cash sales.

    Mark Spain Real Estate Pros & Cons

    Check out the advantages and limitations of Mark Spain Real Estate that you should consider before deciding.

    Pros

    👍Mark Spain Real Estate is a credible real estate brokerage firm to work with and a legitimate business.

    👍The company will close the sale in as little as 21 weeks on average. You have the flexibility to choose your closing date.

    👍Get professional advice and multiple cash offers from licensed real estate agents.

    Cons

    👎The company does not purchase homes with foundation issues, structural damages, unpermitted additions, or other disputes.

    👎They do not buy homes as-is. They have a specific set of criteria to choose homes they will buy for cash offers. Otherwise, they will encourage you to list your home on MLS through a realtor.

    👎You might have to pay a realtor service fee and 1% closing cost, as indicated by several customers in their reviews.

    👎The company does not serve nationwide. They operate only in 6 states.

    Mark Spain Real Estate Competitor Analysis

    Mark Spain Real Estate is a trusted brokerage firm and has over 50,000 satisfied clients. But that may not mean they are the best choice when you want to sell your home fast with zero hassles and for cash. So, here are some competitors you must consider checking out.

    Opendoor

    Opendoor is a U.S.-based iBuyer that allows you to list your home and sell it for a cash offer right from your mobile device. They have a pretty straightforward process of making a cash offer on your property, making required repairs on it, and relisting it on their site for resale. They will pay up to 80% of your home’s FMV in cash. However, they charge a 5% repair cost and service fee for the offer they make.

    Houzeo

    Houzeo is a For Sale By Owner platform that gives you complete control over selling your home and getting a desired cash offer. The website lets you list your property on the MLS and you can start receiving cash offers from multiple buyers. So, you can compare the offers and choose one that best meets your needs.

    Alternatives to Mark Spain Real Estate You Can Consider

    Not sure if you want to sell your home to Mark Spain Real Estate? Here are some alternatives you might want to consider:

    • Cash home buyers: If you have a distressed property and want to sell it hassle-free for cash, then go for popular cash home buyers in the U.S. They will buy your home as-is and pay around 50% to 70% of its fair market value. There are no other costs involved and they can close the deal in around 7 days.
    • iBuyers: This is a good option if your home is in decent condition and requires only minor repairs. However, they typically charge a service fee.
    • Real estate agents: A realtor will help you walk through all stages of selling your home and get an attractive offer. However, it isn’t always a cash offer and the process takes time. Also, you have to pay a realtor commission of up to 6%.

    Mark Spain Real Estate Reviews: Should You Sell to Them?

    You might consider selling your home to Mark Spain Real Estate if you want fast cash and an experienced brokerage firm to assist you in the process. However, they do not buy distressed properties and therefore, your home may not qualify for their Guaranteed Offer Program. In that case, they will get your home listed through an Exclusive Listing Agent. So, ultimately, you end up going through the traditional listing process and paying a commission.

    In that case, you may consider selling it to a cash home buyer who will buy your home as-is or other alternatives as mentioned earlier.

    Frequently Asked Questions

    Q. My property is facing bank foreclosure. Will Mark Spain Real Estate buy it for cash?

    No; as per their Guaranteed Offer Program, they do not buy homes that are distressed or have some kind of dispute.

    Q. Can I trust the company to sell my home?

    They are a legitimate business and have helped thousands of homeowners sell their property. So, you can rely on them to sell your home, either for cash or the traditional way.

    Q. How much do they pay?

    You can expect around 50% to 70% of your home’s market value, provided you qualify under their guaranteed cash offer. 

    Contact

    Website

    Address: 12600 Deerfield Pkwy, 450, Alpharetta, GA, United States, Georgia

    Phone: (855) 299-7653

    How can we help you?

    Answer a few quick questions to see how we can help you.

    Get Cash Offer