The difference between a wholesale buyer and a retail buyer is enormous. Here are some frequently asked questions that may help make your choices concerning selling your home more clear.
No. We are not real estate agents and are not interested in listing your home. Rather, we’ll be looking into purchasing your home outright. There are some advantages to listing a house for sale in the open market. Depending on your situation, this might be a way to go, and we can recommend a number of excellent agents if you feel this is the best approach for your situation. However, if you’d like to bypass the timing and scheduling hassles, we are always available to set up an appointment.
We buy houses in as-is condition. The homes we buy usually are in need of repairs such as roof, foundation, flooring, and plumbing issues. As an investment group, we are prepared to take care of all of those details after the sale. You don’t need to invest money in contractors or put off the sale for repairs to be completed.
We will only close the transaction with the involvement of a title company. The activities of title companies are regulated in the State of Texas and this insures that both parties are protected. Title companies verify the ownership of the property as well as provide escrow to make sure you, the property seller, receives the funds as per the agreement.
Should you decide to sell your house to us, we can close in as quickly as 7-10 days from the date of the accepted offer. The 7-10 day window is needed for the title company to prepare the documents and to make sure you are the legal owner of the house you are selling. Doesn’t that beat the 30 to 60 days many retail listings require?
People often sell tenant-occupied homes. We have no problem purchasing a property if it is currently rented to a tenant. Looking to sell your property with a bad tenant living in it? No problem; we have experience dealing with bad tenants as well. You do not have to evict the tenant or worry about collection efforts. We’ll take over all the headaches.
Banks who are owned money would love nothing more than for you to pay them current and to pay off the loan. If you are behind on your house payment and looking to sell – we will take care of dealing with your lender and making sure they are paid off without you having to bring your mortgage current.
According to recent research stats, only 10.9% of home owners in the Dallas area are upside down on their mortgage, which is about half the national rate. With that said, if you are one of those 10.9% you have several options available to you:
Stay in your home and continue to pay your mortgage, eventually appreciation + your payments will bring you out of the ‘under water’ situation.
Pay down the difference between selling price and the balance that you owe to the bank.
While we don’t encourage it, your third option is to pursue what is called a short sale. Short sale is when you sell your house for less than what you owe and the bank accepts pay off short of the balance, hence the name ‘short sale.’ Short sale is a complicated process and we advise home owners to seek professional guidance. Depending on your situation we can assist with a short sale or recommend a trained professional at no cost to you.
We can buy your house “subject to” the existing mortgage. If we buy the house, we continue making the payments, and the note remains in your name. Learn more about subject to sale offers and see if this option is right for you.
Now that you know a little more, we’d love to set up a time to talk. Give us a call or drop us a note and we’ll be in touch, usually within a day.