Business ProfileforKM Home Buyers

In June 2020, BBB contacted KM Home Buyers to request substantiation of their advertisement claims. Per recent complaint activity, the person who filed the complaint is the Seller of the property alleging the business (Buyer) is offering to list the property on MLS for others to buy from the business while in the middle of the transaction with the Seller. The Seller further alleges the business cancelled the AS-IS purchase after the business could not find any buyer to purchase the property, and the business did not pay the $250 escrow after cancelling. The Seller alleges they also found that KM Home Buyers listed the home on MLS for others to buy from the business for $30,000 more than what was offered to the Seller. The complaint further alleges the Seller was told various contractors were coming to inspect the property, however the Seller found the contractors were actually potential buyers of the property that were going to instead purchase from the business.

BBB asked the business to address the following questions:

- Please substantiate copies of all advertisements, contracts, and the MLS listings of the property referenced per consumer complaint activity.

- Please substantiate the below advertisement claims found on your website:

1.) "Voted #1 "Distressed" Cash Home Buying Company in the Tampa Bay area."

2.) "Reasons To Sell
KM Home Buyers purchases "distressed" houses that may be undesirable to others because of their location, repair issues, appearance, and more. We are eager to help you sell your home quickly in the Tampa Bay area. With our services, you don't have to worry about the condition of your home!"

3.) "We purchase houses in any distressed or messy condition (non-retail). We pay cash and can close within 7 days. KM Home Buyers offers the highest prices for your distressed home!"

4.) "NO CLOSING COSTS ~ SELL "AS IS" ~ CLOSE IN 7 DAYS ~ NO REALTOR FEES ~ NO REPAIRS
We Buy Houses, No Hassle!"

5.) "KM HOME BUYERS OFFERS THE HIGHEST PRICE FOR YOUR HOME IN THE TAMPA BAY AREA. WE WILL MATCH OR BEAT ANY WRITE OFFER!"

6.) "We purchase "distressed" houses that may be undesirable to others because of their location, repair issues, appearance, and more. We are eager to help you sell your home quickly in Florida.
With our services, you don't have to worry about the condition of your home, as we purchase any condition home, pay cash, and will close the transaction quickly.)"

7.) "If you need to sell your house fast without all the inconveniences, KM Home Buyers will buy your house for cash. Zero hassles, zero repairs, zero fees of any kind, and zero surprises. Just 100% satisfaction."

8.) "With KM Home Buyers, family-owned business, you can sell your home as-is today, for the best off-market price, without paying any hidden fees, realtor commissions, or closing costs. That means more cash for you. You even get to pick the closing date. You don't have to wait weeks, months, or years to sell your home."

In July 2020, the business responded:

"In reference to this new claim referring to the below code:
1.0: Basic Principles of the Code

In all cases, the Seller reads and signs an agreement giving our company permission to help them list the property on the MLS system, for many reasons, ie: they don't have internet service at their house, too elderly, living in assisted living, Seller might live out of state and/or an inherited property. Any Seller can pay any Broker in the State of Florida a fee to list their properties on the MLS listing to sell their property and do not need to be a licensed Real Estate Agent to do so. Out of the last 100 properties, approx. 5 properties KM Home Buyers helped the Seller list it on the MLS with their signed permission. During this process KM Home Buyers does not receive a commission fee from the sale of the property.
As our advertising states, with the support of many previous Sellers per our Google Reviews, there are "NO CLOSING COSTS ~ SELL "AS IS" ~ CLOSE IN 7 DAYS ~ NO REALTOR FEES ~ NO REPAIRS. Each transaction with Sellers might be a little different based on many selling factors but we do pay all the Seller's closing costs, we have closed within 7 days, we purchase the property "As Is" and the Seller does not need to make any repairs. The process is hassle free. W

In reference to this claim referring to the below code:
28.0: Objective Superlative Claims
Currently KM Home Buyer's has the most reviews of any Home Buying company in the area at 70 Google Reviews. The next company below us has 21. And out of 70 reviews, 67 out of 70 are 5 star reviews, except two which were 3 stars and one was 4 stars. Based on those statistics KM Home Buyer's has the highest reviews in the Tampa Area at 70. And 96% of those reviews were 4 to 5 star ratings. It should also be stated on our first BBB complaint the Sellers were extremely happy with the outcome and actually withdrew their negative rating from Google Reviews.
Thanks for your time.KM Home Buyers"