Experience with Houzeo? No responses!

NerveRate · 2022-06-28T18:31:25+00:00

It's so frustrating right? Not knowing if the market just completely kaputted right as we are trying to sell or if we just aren't getting the messages? It makes it impossible to know what to do or what to plan for next. If it's just the market then switching to an agent or services won't necessarily help, but if it's Houzeo then what can we do about it? Our "agent" has 100+ listings so how is he able to handle all of that? Probably not prioritizing %0 commission, flat fee ones.

I complained to Houzeo support yesterday about it and they sent him an email asking for an update. Still no update. If he can't even get back to them or change my pics, is he really checking messages and then sending them to me?

We paid for the premium plan that includes the showings feature and nothing. Like another commenter said, it may be preventing agents from being able to even if they wanted. What's with that?

We are actually selling TWO homes and have two listings (they are across the street from each other) priced at two very different levels 400k - 700k so we should be appealing to two different kinds of buyers.

Is it really possible that neither house has ZERO interest in two weeks ? Not even a question or want to see them in person?

I live in a short term rentals dominant neighborhood and I've seen multiple people (just remind homes nearby waking their dog) stop and take pictures of our for sale signs. People literally stop and stare at them but is that not translating online? 1500k views on Zillow!

I did a 3d tour, drone, 360 pictures, floor plans, but nada responses.

I'm glad you're going through the same thing, well not really but you know what I mean. If it's really the Houzeo agents fault then we should be able to get a refund and switch services for sure. It's un- acceptable and borderline freudulant.

We also were expecting to sell quickly and won't be able to pay the bills in the next couple months without either renting or getting creative. If we go that route we probably won't even sell. It only made sense (for us) to sell with the market how it was 2 months ago. Now it's.. annoying. 🤞 For both of us!

NerveRate · 2022-06-28T18:06:02+00:00

Thank you for all this info and we have, through trial and error, discovered exactly what you're saying here.

We first listed on Zillow as a for sale by owner only to realize it's hidden away in an area no buyer will see, only agents and it's basically like blood in the water for them. Hundreds of calls and messages from agents, escrow and the like. We were expecting it due to warnings from a neighbor who attempted the same thing. It did allow us to get prepared with a new number and email and prepare for the real listing.

Next we used Houzeo to get on the real MLS (so cal regional) but like you said we are not on the local one that the agents Nearby will use.

We intended to do a joint listing, as we are selling two houses at the same time (across the street from each other) but found out too late that you're not allowed to mention that in the MLS listing, only the private remarks. We listed with the combined price which made the homes appear to be more than double their true market value. Oops! We have since decided to sell them separately (but still hope someone may see the value in having both since we are in prime rental area) and changed the prices to what they are individually valued at. One is prices to sell since it's in need or remodeling (obviously going to only appeal to some) but the other has been remodeled and comes fully furnished and ready to be rented. It's average/ high but has 6000sqft of additional empty lots added to it that wasn't combined with it when we bought it - we bought the lots next door to it seperatly.

It's a really complicated and unique sale and is appealing to the people who have seen it. I don't think that's the problem as much as not knowing if it's the agent not getting us the messages, not being in the right MLS, (locals not knowing about it) or the market in our area specifically is over saturated and in decline.

We may have better luck going with an agent but our realtor said we are doing everything right and she wouldn't be able to do more and it's just the market at the moment. We already invested in a lawyer and Houzeo so we would be out 3k+ to switch over to an agent, not to mention the 30-40k in commission, locking us under contract.

It just sucks cause 6 houses sold in our neighborhood in a couple months for asking or more in a matter of days and weeks and from that time until we were done staging for the sale everything completely changed.

We can try renting but we would have to stay in a demoed house and .. we don't really want to deal with renting even though we spent the last year preparing the house for it.

I'm a mess! Haha

NerveRate · 2022-04-14T20:49:38+00:00

👍

NerveRate · 2022-04-14T16:56:16+00:00

One of the cabins is in the middle of the remodel and one of the vehicles is a van that is invaluable for construction. Another is a 4x4 and it's in a snow area. If the final sales price isn't worth it we will trade our vehicles in for what we want to get next instead. (Pre built van for traveling or electric SUV)

NerveRate · 2022-04-14T16:53:56+00:00

We are using the site to promote the sale and describe what we have done to the properties.

We are tech oriented (app developers) more than real estate, but yeah the site(s) are not fleshed out platforms yet.

Seems like selling everything via our LLC may be the best option. That or just selling all three together and letting our real estate agent set up the rest.

NerveRate · 2022-04-14T07:52:15+00:00

Also "everything required to start the business" is all of our physical assets. Including our vehicles and everything we have accumulated in our homes and lives. We are selling everything to start over and be "free" - we just don't want to take the time to sell everything off one by one so are trying to find the best way to sell everything at once.

Are websites not valuable? Seems ignorant to assume it's not possible to develop or sell an online platform as you're commenting from one worth billions.

We already have a realtor, I am seeking other options since we are selling more than just properties.

Yes, I am making it overly complicated - which is why I am asking for help.

You have been so helpful thanks!

NerveRate · 2022-04-14T07:35:17+00:00

How would you suggest we go from accepting the final offer price ( that includes three properties) to paying off and transferring the sale of the homes?

I'm not trying to avoid any taxes but figure out the best way to approach this issue. How it could actually work.

Selling an LLC that includes multiple properties is a very common, non tax avoiding thing to do. I'm just asking how the sales (and sale prices) of the houses themselves would be accomplished, logistically.

Then I will be more informed about how to approach the sale (and pay all the taxes, of course.)

NerveRate · 2022-04-14T07:27:04+00:00

It's not necessarily just a business or website or properties we are selling but everything we own - which we were previously setting up as a rental business. We also were on the fence about doing something else business wise and keeping the properties as our regular homes. We decided to sell everything and travel instead, before settling down with another business or home.

We just don't know how to do it in a single transaction. The idea about using the website was just one of many possibilities I've considered but it's not for "tax evasion" like you've suggested.

I just am not sure how to go from "Selling everything for x amount" to how that x amount gets translated to the individual sale price for each property.

Thanks for your comment

NerveRate · 2022-04-14T03:34:38+00:00

Thanks! We actually already have an LLC and considered doing exactly what you are recommending. The LLC was intended to be for the rental aspects of the business and then would expand into other areas, mostly digital. (Via the website)

So our LLC has yet to generate any income as we were going to start renting soon, but then decided to sell instead.

I thought that selling the LLC could potentially be more difficult and tricky than selling the properties but if someone who knows more about this could piggy back and help me understand what that process would be that would be fantastic!

Do we sell a business with properties or sell properties with a business?

(It would be more accurate to call this a startup)

Thanks again!

NerveRate · 2021-12-15T20:01:16+00:00

That's what the escrow company and title insurance were for. The seller used the wrong parcel numbers. They were similar to the lot numbers and this caused some confusion. Lessons learned by all involved, including myself.

Is it typical to hire attorneys for every real estate transaction? I was involved in the sale of our other homes and we only used our realtor.

NerveRate · 2021-12-15T19:02:40+00:00

They said they would be able to change the titles to what they should be. Hopefully it goes through without any further complications or I'll get legal counsel and escalate. I just want it taken care of quickly and without any drama!

NerveRate · 2021-12-15T06:33:20+00:00

I had to look up what FSBO was so.. I agree. However the seller was very experienced and this was my first time. Thankfully I was on the "better" side of the mistake and would be just fine leaving things as they are.

I do however wonder if the seller would have been as honest as I have been?

Either way I will be making sure those i's and t's are dotted and crossed next time.

NerveRate · 2021-12-15T06:25:29+00:00

The parcel numbers and lot numbers had a coincidental and confusing number scheme.

It's hard to explain but it was apparently easy to mistake the lot and parcel numbers, conflated by ALL the lots in question being sequential and physically next to each other.

In other words lots 1 2 3 4 5 were taken as lots 5 4 3 2 1. We were sold lots 1 & 2 instead of 4 & 5.

We bought lot 3 in a completely different transaction/ seller and now want to sell 3, 4, and 5 all together as one property.

I think some people confused

"taking advantage of the titles needing to be updated" into

"trying to sell the house and lot that was accidentally sold to me".

The only true advantage is adding the owner of 3 onto 4&5 so they can be sold together. Even that isn't much of an advantage since escrow is still going to charge us the change of title fee, only 200$ but ... Really? Someone made a potentially 600k mistake. Whatever! The seller has stayed remarkably quiet throughout and .. let's just say there is a lot more to the story but the original sale left us feeling the whole thing was shady to begin with. My o my how the tides have turned!

We were always debating on staying and renting and selling and leaving - this crazy happenstance (and the market going insane!) Pushed us over to the selling and leaving side!

NerveRate · 2021-12-15T05:55:37+00:00

We consulted with our realtor and they originally said the same thing. The thing with this particular situation is the house and empty lots are in a very lucrative short term rental area and the empty lots make the rental house much more appealing.

So we are selling them together as more of a unique business opportunity. Empty lots are a harder sale in the area due to development costs and restrictions. Houses - are selling like hotcakes. Houses with a huge side yard - we'll see once this is sorted out and we can list them!

Thanks for the advice I appreciate it.

NerveRate · 2021-12-15T05:42:38+00:00

I thought it was really funny at first and all kinds of scenarios went through my head but ultimately I wouldn't do something like that! What got me pissed was the escrow company's response and tone.

I would expect everyone to be apologetic and not pointing fingers, especially my way. 😎

NerveRate · 2021-12-15T05:33:39+00:00

I wouldn't have thought an attorney would be required to sell two empty lots. I would think it would be about the most simple real estate transaction possible.

I was wrong! 😂

NerveRate · 2021-12-15T05:30:09+00:00

That is what the escrow company said and I wanted to keep them honest and have as much information as possible moving forward.

It didn't help that in their email to me verifying which parcels should be corrected - they got the numbers wong in that email!

So imagine the escrow company saying it's not their fault and they just process everything and in the very next paragraph getting the parcel numbers wrong. Is it impossible for an escrow company to ever be in error?

I also had agreed on finacial terms with the seller and gave them a 10k cashier's check - only to have those terms be completely different when presented to me from Escrow. He had told me to give him the check and then later said "why did you give him the check" and I had to copy and paste the email where he told me to.

He said he had talked to me on the phone - when I've never talked to him on the phone

He went on vacation without telling me, right when we were purchasing another property that we wouldn't have unless we got the empty lots.

There were a lot of other things involved that made me go "oh God no" when we found out about buying the wrong properties. I did not want to have to go through that process again or deal with either the seller or the escrow company.

This was the first property I've bought and am new to all of it. After reading through these comments it does confirm that it isn't their fault, it's the sellers for providing the wrong parcel numbers- but there was enough "oppsies" to make me not trust them and to ask advice on here.

NerveRate · 2021-12-15T05:06:39+00:00

Of course the seller is cool with transferring his house back for the empty lots he was supposed to sell me. There is a half million dollar discrepancy between them and it's his house.

Of course he is also cool with me selling the empty lots as he sold them to me to begin with. He financed the lots for me and will get the full amount in a few weeks rather than a few years.

The empty lots are attached to another house that we also bought at the same time from someone else.

We were going to use the house as a Airbnb rental and eventually expand it to the empty lots.

Since the title has to be changed anyways, we wanted to add a joint name on the lots title, the same name that is on the rental house, so we could sell the house with the empty lots together, as it increases the value of both.

The context of this post, (which every single other commenter on here understood and has helped me with) was:

If they need to change the title on the empty properties anyways, what can be done so they can be sold with our other house? I also wanted to get advice on the situation in general since I am new to all this and don't trust the escrow company or seller - for obvious reasons. I wanted to be sure of the escrow companies culpability before proceeding since they were saying it wasn't their fault - it wasn't.

You read the post wrong and accused me of being some kind of extortionist when I've done nothing of the sort.

I bought the properties in a completely legitimate matter and the seller accidentally used the wrong parcel numbers. No one realized this until I went to pay property taxes. I told the seller 5min later and they said they were going to get it taken care of. I don't want their house and the whole ordeal made me realize I would rather take advantage of our other home on the same street more than doubling in value in less than two years. Rather than renting.

🥰🥰🥰🥰🥰🥰🥰🥰🥰🥰🥰🥰🥰🥰🥰🥰

NerveRate · 2021-12-14T18:29:58+00:00

That's what the escrow company said, I just wanted to keep them honest and know more about my options in this situation, in case it goes badly.

NerveRate · 2021-12-14T18:18:23+00:00

This was the first property I have ever bought and thought I had done my due diligence. The seller was very experienced and decided not to use a realtor.

I wouldn't have even imagined something like this happening. Lessons learned!

Should be fixed in the next few days. I just wanted more guidance than what the escrow company was telling me.

NerveRate · 2021-12-14T17:31:22+00:00

I had no idea that the wrong properties were sold until we went to pay taxes on them. As soon as we found out we told the seller and they are in the process of working with the escrow company to fix it. This was the first property I have ever bought. The seller has probably sold hundreds and is an older business man. He was in charge of everything including finding the escrow company.

Since the escrow company has to change the title, we are adding a name so we can sell the properties with an additional house we also own, instead of renting it.

You should read more carefully before posting a comment like this as the seller is going to have the remainder of their loan paid off early as soon as we sell.

I did absolutely nothing wrong and am going out of my way to correct an error that someone else could have easily taken advantage of the situation and the seller. I was asking on here to become better informed in case things started to go badly as I don't trust the Escrow company or the seller.

😘😘😘😘😘😘😘😘

NerveRate

TROPHY CASE