Zillow has announced that its ‘Zillow Offers‘ home buying service where they will make an offer to buy your home or condo, sight unseen, is expanding to the LA market.
The makes for the largest metro area to date Zillow will offer this service.
By using this service, Zillow will make an offer to buy your home after uploading pictures of it to their website. Then once it closes in a short time period, Zillow will renovate the property and then relist it for sale.
As one would expect, the offer from Zillow will have to be discounted somewhat from a normal marketing period to make it a worthwhile purchase from an investment return standpoint.
Zillow plans to reach 5,000 purchases and sales each month in the market it is active in.