MarketPro HomeBuyers Reviews – Should You Accept Their Offers?
Posted by Clark CallenPosted at July 19, 2024
In today’s dynamic housing market, selling a house can be a complex process. MarketPro HomeBuyers positions itself as a streamlined solution for homeowners seeking to offload their property quickly and conveniently. But is MarketPro the right fit for you? This in-depth review dives into their services, reputation, and potential drawbacks to empower you with the knowledge needed to make an informed decision.
Is MarketPro HomeBuyers Legit?
MarketPro HomeBuyers appears to be a legitimate company with some positive aspects to consider:
BBB Accreditation: Holding accreditation with the Better Business Bureau (BBB) signifies a commitment to ethical business practices. Their 4.28/5 rating on the BBB indicates a generally positive customer experience.
Positive Google Reviews: MarketPro boasts a 4.4-star rating on Google Reviews with a significant number of reviews (490). This suggests a customer base with positive experiences.
However, there are also some points to consider:
Mixed Yelp Reviews: MarketPro has a significantly lower rating (1.1 stars) on Yelp with 30 reviews. This discrepancy highlights the importance of considering reviews across multiple platforms.
Closed BBB Complaints: The BBB profile shows 59 complaints closed in the last 3 years and 21 closed in the last 12 months. While a certain number of complaints is expected with any company, it’s crucial to understand the nature of these complaints to get a clearer picture.
What Types of Properties Does MarketPro HomeBuyers Purchase?
MarketPro HomeBuyers specializes in buying houses nationwide that might be challenging to sell through traditional channels. They focus on:
Inherited Properties: If you’ve inherited a property and need to sell it quickly, MarketPro can provide a cash offer and handle the logistics.
Fixer-Upper Properties: Properties requiring repairs can be sold “as-is” to MarketPro, eliminating renovation costs for you.
Relocation Situations: Facing a job relocation and needing to sell your house fast? MarketPro’s streamlined process can be helpful.
Distressed Properties: Facing foreclosure or financial hardship? MarketPro can be an option to explore.
Coverage Area
MarketPro HomeBuyers operates nationwide, making them a convenient option for homeowners across the United States. It’s always recommended to confirm their coverage area directly if your location is outside the continental US.
Selling Process with MarketPro HomeBuyers
MarketPro promotes a straightforward selling process:
Contact and Information: Initiate contact by phone or through their website, providing basic details about your property.
Offer Presentation: MarketPro will evaluate your property and present a cash offer within 24-48 hours.
Closing: If you accept the offer, they handle the closing process, aiming for a quick turnaround.
While it sounds simple, keep these key considerations in mind:
Cash Offers: Cash offers are likely below market value to factor in renovation or resale costs. Be prepared for a potentially lower offer compared to a traditional sale.
Closing Costs: It’s important to clarify who pays closing costs with MarketPro. While the convenience of a cash offer is attractive, some companies require sellers to cover these costs, impacting your final payout.
Payout with MarketPro HomeBuyers
MarketPro offers cash payouts, which can be appealing for sellers who need immediate access to funds. Remember:
Negotiation: Don’t be afraid to negotiate the offer, especially if you have comparable sales data from your area.
Closing Costs Clarification: Ensure you understand who pays closing costs to assess your final net proceeds.
Reviews
Customer reviews offer valuable insights into the real-world performance of MarketPro HomeBuyers. Here’s a summary of what homeowners are saying:
Positive Experiences: The company has a 4.4-star rating on Google from 490 reviews. Customers frequently mention the ease and speed of the selling process, as well as the professional and courteous service provided by MarketPro HomeBuyers.
Negative Experiences: The 1.1-star rating on Yelp from 30 reviews highlights some dissatisfaction. Common complaints include lowball offers, issues with customer service, and delays in the process.
Mixed Feedback: The BBB accreditation with a rating of 4.28/5 and a substantial number of complaints suggests a mixed but generally positive view. While many customers have had good experiences, a notable number have encountered issues.
Pros and Cons of Selling to MarketPro HomeBuyers
Pros:
Fast Cash Offer: Get cash quickly without the hassle of listing and showings.
No Repairs Needed: Sell your property “as-is,” avoiding repair expenses.
Simple Process: Streamlined process can be attractive for time-crunched sellers.
Nationwide Coverage: Convenient option for sellers across the US.
Cons:
Lower Offer: Cash offers typically come in below market value. While speed and convenience are attractive, be prepared for a potentially lower payout compared to a traditional sale with a realtor.
Mixed Reviews: The significant discrepancy between positive Google reviews and negative Yelp reviews warrants caution. Consider a broader range of review platforms to get a more comprehensive picture.
Closed BBB Complaints: While a certain number of complaints is expected, the existence of 59 closed BBB complaints in the last 3 years merits investigation. Review the nature of these complaints to understand potential concerns.
Limited Control: With a cash offer, you have less control over the negotiation process and final selling price compared to a traditional listing with a realtor.
Competitors
Several companies offer similar services to MarketPro HomeBuyers. Here are some examples:
We Buy Ugly Houses®: A national chain with a strong presence, specializing in buying distressed properties for cash.
Offerpad: Another national company that focuses on a quick and easy cash home sale process. They offer cash offers and can close on a house in as few as 7 days.
Hometown Offers: A nationwide company with a focus on providing a smooth and transparent cash for homes experience.
HomeGo: A national cash for home business that makes cash offers on properties of various conditions.
Competitor Analysis
While MarketPro HomeBuyers boasts positive Google reviews and nationwide coverage, comparing them to established competitors can be helpful. Here are some factors to consider:
Reputation: Look for companies with a longer track record and a wider range of customer reviews across various platforms (Google, Yelp, BBB).
Offer Comparison: Get quotes from multiple companies, including MarketPro, to ensure you’re getting the best possible cash offer. Utilize online resources and comparable sales data in your neighborhood to estimate market value for a more informed negotiation.
Closing Costs: Compare how different companies handle closing costs. Some might require sellers to cover these, impacting your final payout.
Customer Service Reviews: Pay attention to reviews mentioning customer service experiences. This can help you gauge the level of communication and support you can expect during the selling process.
Other Options You Should Consider Besides Selling Your House
Selling your house isn’t always the only solution. Here are some alternatives to consider depending on your circumstances:
Work with a Traditional Realtor: Listing your house with a realtor can help you get the best possible price for your property, especially in a seller’s market. While it takes more time and effort, a realtor can handle marketing, showings, and negotiations on your behalf.
Request a Loan Modification: Facing financial hardship and struggling to make your mortgage payments? You might be eligible for a loan modification, which could involve lowering your interest rate or extending the term of your loan.
Rent Out Your Property: Renting your property can be a good option if you’re not in a hurry to sell and market conditions are favorable for rentals. This approach allows you to potentially profit from the property’s appreciation in the long run.
Defer Selling: If you’re not under immediate pressure to sell, consider waiting for a better market situation. The housing market fluctuates, and waiting could allow you to get a higher price for your property.
Ultimately, the best option for you will depend on your individual circumstances and goals. Weigh the pros and cons of each option carefully before making a decision.
Reviews: Should You Sell to MarketPro HomeBuyers?
While MarketPro HomeBuyers offers a seemingly straightforward solution for a quick cash sale, the decision ultimately depends on your needs and priorities. Here’s a breakdown to help you decide:
Who Should Consider MarketPro HomeBuyers:
Sellers in Need of Speed: If you need to sell your house quickly due to job relocation, financial hardship, or inheritance, MarketPro’s cash offer and streamlined process can be appealing.
Properties Needing Repairs: If your property requires significant repairs, selling to MarketPro can save you the time and expense of renovations. You can sell “as-is” and avoid the hassle of attracting traditional buyers.
Limited Time or Resources: If you lack the time or resources for a traditional listing, which often involves showings, open houses, and negotiations, MarketPro’s simplified process might be a good fit.
Who Might Want to Look Elsewhere:
Sellers Seeking Top Dollar: Cash offers typically come in below market value. If getting the most money for your property is a top priority, consider exploring traditional listing options or getting quotes from multiple cash for homes companies. This allows you to compare offers and potentially negotiate for a better price.
Those Unsure of Market Value: Before accepting any cash offer, it’s crucial to research your property’s market value. Utilize online resources, consult a realtor, and consider getting an appraisal to get a realistic idea of what your house could sell for traditionally.
Those Who Value Control: Selling through a realtor allows for negotiation on price and closing conditions. This level of control might be important for some sellers who want more flexibility in the process.
Concerned About Reviews: The discrepancy between positive Google reviews and negative Yelp reviews, along with the number of closed BBB complaints, warrants caution. Consider contacting MarketPro directly to address any specific concerns you have based on the reviews.
Frequently Asked Questions About MarketPro HomeBuyers
1. How much below market value does MarketPro HomeBuyers typically buy houses?
There’s no set percentage of how much below market value MarketPro offers. The discount they provide will depend on various factors like the property’s condition, location, and market demand. It’s crucial to get their offer, compare it with market research, and consider quotes from other cash for homes companies before making a decision.
2. Does MarketPro HomeBuyers cover closing costs?
It’s important to clarify who pays closing costs with MarketPro upfront. While the convenience of a cash offer is attractive, some cash for homes companies require sellers to cover closing costs, impacting your final payout. Be sure to ask MarketPro directly about their closing cost policy to determine the net amount you’ll receive after factoring in all expenses.
3. What is the timeline for selling my house to MarketPro HomeBuyers?
MarketPro advertises a fast and streamlined process, aiming to present a cash offer within 24-48 hours of contacting them. Their website states they strive for a quick closing but doesn’t specify an exact timeframe. The actual timeline can vary depending on factors like the complexity of your title, the need for appraisals, and any potential delays with paperwork. Be sure to discuss the expected closing timeframe with MarketPro to get a more accurate picture for your specific situation.
Conclusion
Selling a house can be a significant life event. MarketPro HomeBuyers presents a potential solution for homeowners seeking a fast and convenient cash sale. However, understanding the trade-offs involved and exploring alternative options is crucial before making a decision.
Carefully consider your priorities, research your property’s market value, and compare offers from multiple companies to ensure you’re making the best choice for your circumstances.
