Selling on Terms – FAQs
What are terms? This is the most common question we get since we buy most of our houses this way. “Terms” just means you won’t be getting your payment in full on closing day. We structure a deal that works for you and us that ultimately gets you MORE money in your pocket while providing us some time to pay you that money. Each deal is different, but some of the most common way we purchase houses are 1) Buying subject-to the existing mortgage; 2) Owner financing; 3) Lease Option. Although we can, we rarely purchase a house with cash at closing as most sellers like receiving tens of thousands more in their pockets by just waiting a short period of time. Want to know what we can offer for your house? Contact us today!
Q: Will you be listing my house on the MLS or actually buying it?
A: Great question. 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 homeowner or keep it as a rental ourselves. We may purchase it and sell to an end buyer that is not currently eligible for a tradtional mortgage and just needs a little time.
Q: How are you different from a real estate agent?
A: Full disclosure – I am a licensed Realtor in Arizona. Want me to list your house? NO – I won’t do it. I have no interest in it. Even in a hot market it takes too much time and effort for too little payoff. I’ll gladly refer you to another Realtor if you truly want to lose money and time. Want to save time and money? I’ll buy your house! I will pay you a fair market value for your house and you can save yourself the commissions – not to mention the headache of letting strangers walk through your house, reviewing offers, and ultimately be left sitting there wondering if your buyer is going to fall through for various reasons. When we buy – we don’t expect the house to be perfect, we have our financing in place before even submitting an offer to you, and we have yet to back out of an offer where there weren’t extreme unknown circumstances with the property.
Q: Do you pay fair prices for properties?
A: Yes. Other investors will offer you a “fair” price of 60% of market value. We like to buy on terms which means you may not get 100% of your funds right away, but you will ultimately get paid much more than if you wanted all cash right now. We can offer cash right now, but you we could definitely offer more if you allow us at least 3-5 years to pay you in full. All contracts are executed using an attorney and we abosultely encourage you to consult your own attorney.
[DOWNLOAD our free guide that walks you through the Pros and Cons (plus the cost and timeline) of selling your house to a real estate investor… plus learn the pros, cons, and costs of the other two alternatives… listing with an agent or selling it yourself. Head on over here download your free guide →]
Q: How do you determine the price to offer on my house?
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. As you know, house values have plateaued and may soon be in the downward trend of the next cycle. We take many pieces of information into consideration… and, as professional home buyers, come up with a fair price that works for us and works for you too. Again, we can offer you more money if you allow us some time. Most times you will actually end up with more money if your pocket selling to us vs. selling with a Realtor.
Q: Are there any fees or commissions to work with you?
A: This is what makes us stand out from the traditional method of selling your house: There are NO fees or commissions when you sell your house to us. We’ll make you an offer, and if it’s a fit then we’ll buy your house (and we’ll often pay for the closing costs too!). No hassle. No fees. We make our money after we pay for repairs on the house (if any) and sell it for a profit (we’re taking the risks here on whether we can sell it for a profit or not, once we buy the house from you… the responsibility is ours and you walk away without the burden of the property and its payments… and often with cash in your hand).
Q: Is there any obligation when I submit my info?
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.
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