Zoodealio offers? Legit or not? Worth it or not?

Question

My cousin is considering the offer that a company has made to him through Zoodealio. He wanted to run it by me. My first thought was to check BP because...you know...BP.

Has anyone conducted business with or heard of: https://zoodealio.com?Thoughts? Warnings? Green light?

Thanks,

Rory

Jeff Kadlec · Answer

Hi, the USA today article was not from USA Today.  It was written by Zoodealio themselves.  Their is a disclaimer on top of the article stating it was not written or endorsed by USA Today.  I have looking into them as well and researching the reviews.

Nicholas L. · Answer

Why not talk to a local agent or 5 and see what they think?

I don't know anything about this company

Norberto Villanueva · Answer

Submitting pics, comps, the whole nine, we started with four 
competitive offers on each of two rural deals submitted, and I was quite
 impressed with their platform. Excited even. Then, slowly but surely, going from sugar to shinola, it died.

First, with an adjusted ARV bracket of $328k - $430k, in an area averaging $109 a sf, the (automated) Property Value their offers are based on went from OK to 
absurd - $195k for a 4,200 sf property that needs a roof, interior and exterior paint, MAYBE a kitchen and (5) bath remodels, and electrical, all of which we had a $75k rehab budget on. If this is not a deal at $127k, then you either don't know sugar from shinola or you're a shark out of water. I'm just saying.

With one often not knowing what the other did or said, a member of their Offers Team, whom I asked if that was market or as-is value, argued it was an "automated valuation, which can be the same in an area where all the houses need repair." WHAT!? Did. I. Miss.

THEN after three weeks of "Why don't you see the pictures and comps again" and "What, this makes no sense" exchanges, all while having to get accepted offers extended, both of the properties ended up needing "too much work".

Here's one https://tinyurl.com/2dafeetk. $120k contract price, $60k rehab. With a comp that sold for $340k, the ARV bracket is $238k - $338K and we have it at $300k. After one of their four offers were $91k upfront and $56k at after-repaired resale, they now put a $139k Property Value on it, which they say is market value, and zero offers.Citing "low population density" and "property condition" factors, which, even if real, were known from the rip, should have killed it long ago, I've learned to put zero eggs in that basket.

Karen Mattonen · Answer

They are legit - USA Today had a pretty great article about them online. We will be adding them to our website later this week - we are pretty impressed

Lauren McConnaughhay · Answer

They are legit as far as I can tell. I recently started working with them to help get up to 5 cash offers at a time for my clients who are interested in going this route. I've used them twice and they aren't throwing out lowball offers like I had initially expected. And they are realtor friendly unlike other cash offer platforms out there today.

Myesha Michelle Davis · Answer

I am curious to find out how it went? Did he accept there offer.

Krista Recker · Answer

@Rory Silva follow up a year later...did your cousin move forward with a cash offer from zoodealio? 👀 I'm curious about his experience and most important I'd love to hear the numbers.

Jeff Kadlec · Answer

I did find this little bit of info:  https://www.scam-detector.com/validator/zoodealio-com-review...

Jo Ann Byrne · Answer

I'm an agent in NYC and I participate with the Zoodealio program.  They are very legit. They offer some good options for sellers that want to move property quickly.  A hedgefund is behind them I believe.  They are very organized and so far have been a great organization to work with, a lot of agents work with them and give them referrals.

Rory Silva · Answer

Thanks for the replies. He seems okay with the number but is more interested in vetting the company. I wanted to see if there were bad experiences here on BP.I connected him with my realtor. Hopefully things pan out for both of them.

Zoodealio offers? Legit or not? Worth it or not?

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