Dr. Michaels* had been retired for several years. Divorced from his wife, his children were grown with homes of their own. Dr. Michaels had found a new partner in his life, a widow in a similar situation who was in good health and with whom he enjoyed many leisure activities. They had decided to marry. Dr. Michaels’s recent surgery made it difficult for him to climb the steps to his bedroom, so he moved into his fiancé’s one-level home during his recovery. They decided they wanted to move to a new home together and they committed to a new construction in a 55+ community in Skippack, PA. Now they had two homes to manage as well as one being built.

Dr. Michaels owned his existing house outright. He had long ago paid off the mortgage and the property had appreciated substantially. The house needed some work – certainly a paint job, probably some new appliances and some modernization would help it to sell. Dr. Michaels didn’t want to work on his old home. He wanted to get the cash out of that house and apply it to the new construction. He and his fiancé would live in her house until their new home was ready.

Dr. Michaels’s house was in a stable neighborhood in Broomall, very family friendly. It had some nice amenities: 3200 square feet, an in-ground pool, a finished basement and a 2-car garage. He heard about the program on the radio and contacted Rich Shermer. Rich met with Dr. Michaels and evaluated the property. The doctor’s question: “How easy can you make this?” Rich made an offer of $240,000,  approximately 30 percent below market rate for the area. In exchange for that discounted price, he agreed to be bound by the offer for several months and to close within three business days notice from Dr. Michaels. The company would take the house “as is.” Dr. Michaels could clean out whatever he wished and leave whatever he didn’t want. The company would dispose of anything left in the house. Dr. Michaels was delighted with the plan. When he considered the six percent standard real estate commission and closing costs, all of which he saved, he felt that he didn’t really lose much money, and he certainly didn’t lose any sleep. In fact, he gained peace of mind and greater control over his situation. The settlement was accomplished in a quick meeting with no hassle, and the good doctor ended up referring others to the program.

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* All names have been changed, but the stories are factually accurate.