Originally founded as Homevestors of America in 1989, the We Buy Ugly Houses franchise model became available in 1996. Best known for its “We Buy Ugly Homes” marketing campaign, it has been purchased by Bayview Asset Management LLC, a global investment management firm. While this is the general process you can expect, Buying Ugly Homes is a cash buyer brand owned by HomeVestors. It authorizes the name of franchisees, who work locally as independent operators. We pay cash to buy these homes from their landlords, rehabilitate them and then sell them to investors or buyers, or rent them to tenants.
This includes homes that are difficult to sell for a number of reasons, and also homes that have their owners in ugly and captive situations. The company is organizing a competition for the ugliest house of the year among its franchisees, who renovate these distressed properties. For example, when some of the first markets that faced closures in the spring, such as Boston, adjusted to continue buying houses, those franchises shared their knowledge across the company. Whether you're a homeowner in need of selling your ugly home, someone looking to buy or rent a home, or an investor looking for a franchise opportunity, we're happy to talk to you.
Some cities, such as Chicago, Illinois, have passed laws that prohibit investors from calling for six months after landlords reject their offers. In a sale by owner (FSBO) sale, the owner handles all the marketing and negotiation for themselves. After the slowdown in home sales due to the subprime mortgage crisis in the United States, the company marketed its services to financially struggling homeowners facing foreclosures and looking for a quick sale. It is the contest for the ugliest house of the year, where they nominate which of their houses are the ugliest.