Industry News

StrollAway helps hurricane victims sell distressed homes

Site connects investors, sellers, eliminates commission

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"Look away, Dixieland," is how the song puts it, but a new service, StrollAway, aims to help people sell their distressed homes in disaster-affected areas in the South without paying a commission. The service was developed for property owners in hurricane-ravaged areas with damaged or destroyed homes, or those who simply want to leave. They can find investors to buy their homes by listing them on the StrollAway site at no cost, bypassing the need for an agent. With experts predicting rising foreclosures this year, there are already a number of sites that specialize in distressed properties. Like StrollAway, RealtyDebtRelief, launched in 2003, appeals to individual sellers. RealtyDebtRelief facilitates "short sales," when distressed homeowners sell their houses for less than they owe in order to avoid foreclosure. However, while RealtyDebtRelief facilitates communication between home buyers and their lenders, StrollAway connects investors and sellers without involving the lenders. Also...