SleepyDon
Too Good to Be True
BonusHomes approached us with a 'full price' letter of intent for our home the first week it was on the market. We were skeptical because when something seems too good to be true, it almost always is. We pulled our home off the market and met with them to discuss the proposal. The interest rate for our home loan was slightly higher at 3.875% than they anticipated. The meeting went well and we thought that everything was 'full speed ahead'. Then we got a revised letter of intent where BonusHomes cut the money we receive up front by 1/3. BonusHomes insisted that it was essentially the same offer but shifted the money we get to the end of the agreement, if we sold the home after 5 year minimum. BonusHomes constantly told us what a great deal we were getting. 1/3 less money up front?? Not such a great deal for us. So be skeptical of offers that seem too good to be true.
Response from Bonus HomesMay 16, 2025
At Bonus, we are deeply committed to building a service that delivers high value and satisfaction for our customers, and we’re disappointed that you did not have that same level of experience or meet your expectations. As mentioned on our first call, your initial offer was preliminary based on the available data on your home—similar to how you may receive a “pre-approval” letter from a lender. And, we were excited to partner with you and invest in your home. But sadly, the interest rate on your home that was available for us to make our preliminary offer was nearly one full percent off from your actual rate, which affected the final offer we could present and that was conveyed to your agent as well. Like a typical real estate offer with an inspection or financing contingency, verification of information is a critical part of the process and can impact an offer. The material level of difference from your actual interest rate was frustrating to see, and we sincerely apologize for the disappointment it caused. As you mentioned in your review, we offered to make up the difference by providing you with a greater return on your future proceeds—rather than simply withdrawing. We appreciate your feedback, and we’re constantly working to improve our processes and deliver the best experience possible. Congratulations on the sale of your home; we wish you the best.