Bay Reach Homes, Curtis Sakai, Lynn O'Brien
As a landlord, I received a letter from this company.The letter claimed that, "we can buy your property quickly, without hassles, and most importanty, at a fair price." The letter also stated, "we always make cash offers." After establishing contact, they asked to see the house. I had to disrupt my tenents to allow them access. After a few days they claimed in an email that, "the tax records show your property appraising around 300K." In California, there have been no tax appraisals since 1978. When I asked how they got this information given this fact, they were non-responsive. They did however, ask me for a "counter" to the 300K, which was not really a written offer and they never gave me a basis for how they derived the number. I offered a counter which I based on the value for the property I found on zillow.com, which I reduced by 5% for real estate commissions that would not be paid, and an additional $25K for repairs they mentioned when they inspected the property. They did not respond at all; just left me hanging: not even a "no thank you, we are no longer interested." In short, they wasted my time, disrupted my tenants and did not live up to their claim that they would make a written offer at a fair price.