FREQUENTLY ASKED QUESTIONS
Maybe you have a few questions. That’s okay; most people do. So here’s a quick collection of some of the questions people ask us… along with our answers. If you still have a question, don’t hesitate to contact us (or give us a call) and we’ll be happy to answer it for you.
A: Great question. We’re not agents, and we don’t list houses. We are professional home buyers. We buy houses that meet our purchasing criteria. From there we may repair the house and resell it to another home owner or keep it as a rental ourselves.
A: We do one of 3 things with a house: we’re going to buy it and keep it as a rental, buy it and fix it up to list it back on the MLS and sell it, or we offer it to our group of investors who do the same thing we do! We only go for option 3 when a house doesn’t meet our criteria, but that rarely happens!
A: Great question, and we’re an open book: Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and values of comparable houses sold in the area recently. We can’t use numbers from houses listed on the MLS currently because they haven’t sold. Someone may want to sell their house for $300,000, but people might only be willing to pay $250,000 for it. So we have to use sold comps as a comparison.
A: This is how we stand out from the crowd: when you sell your house to us, there are ZERO fees, commissions and we usually pay closing costs as well! So whatever number we agree for is what you get to walk away with, minus any remaining balance on a mortgage or potential encumbrances on a property. You save thousands of dollars by selling to us vs. selling through a realtor.
A: Real estate agents list properties on the MLS and hope that someone will buy them. The agent shows the properties to prospective buyers if there are any (the average time to sell a property in many markets right now is 6-12 months) and then take a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3-6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $3,000 – $6,000 in commissions to an agent). Agents provide a great service for those that can wait 6-12 months to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different: We’re not agents, we’re home buyers. Our company actually buys houses. We don’t list houses. Since we’re actually the one buying the house from you, and we pay with all cash… we can make a decision to buy your house within a couple days (sometimes the same day). Again, we make our living by taking the risk to buy the house with our own cash, repair the house, and market it ourselves to find a buyer (which is the hard part in this market).
A: There is absolutely zero obligation for you. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out a bit more, and make you an all-cash offer that’s fair for you and fair for us. From there, it’s 100% your decision on whether or not you’d like to sell your house to us… and we won’t hassle you, won’t harass you… it’s 100% your decision and we’ll let you decide what’s right for you.