Frequently Asked Questions
As part of our commitment to providing premium services to our clients and potential, we have resolved to answer any questions you might have. With us, no question is insignificant or meaningless. So please do not hesitate to ask away. You can reach out to us at any time via our telephone number or any of our contact forms. We promise to get back to you with a detailed response as soon as we receive your message. In the meantime, please look at these questions commonly asked by our clients. You might find a question similar to yours to which we’ve already provided answers.
Q: How is selling to you better than listing with a realtor?
A: Selling to us comes with several advantages, especially if you want to close the sale at record speed. Property owners employ our services when they have a limited window to sell their houses. Real estate agents might get you a buyer willing to pay your property’s full retail value. However, the process of listing and finding a buyer takes a while. And when the agent eventually finds you a buyer, you would have to pay agent commissions and repairs (where required). On the other hand, we buy houses at a fast speed and bear the responsibility of repairs. Plus, we do not require fees, commissions, or charges.
Q: Do you offer reasonable prices for property investment?
A: We try our best to ensure that our clients get very decent offers in every transaction. Before making an offer, we calculate the cost of repairs, carrying expenses, and our 10%-15% profit margin. After subtracting all of these, we are careful not to short-change ourselves or exploit the client, so we set the offer at a price that favors both parties. Please note that our deals are not tied to any obligations. Thus, you are not mandated to accept our offer or sell to us. Our offers are extremely fair if we have to say so ourselves. However, if you don’t find them favorable, you are at liberty to reject the offer. We will not bother you any further and will be ready to help if you need us on other sales.
Q: How do you come about the prices you offer?
A: Like every good real estate investor, our offers are subject to the ARV of properties. ARV, in simple terms, refers to the property’s value after upgrades and repairs have been properly done. And to arrive at the ARV, we subtract realtor charges, carrying expenses, profit, cost of repairs, and closing costs from the property’s current market value. After all these subtractions, we arrive at the prices we offer our clients. Since repairs are the major cost, the basic formula we employ in calculating the purchase price is 70% of the ARV minus repairs.
Q: What fees or commissions do you charge?
A: The absence of fees or commissions is one of many reasons why we are a preferred choice amongst homeowners. Selling to us comes at no cost. It is completely free, and if there is any cost at all, we immediately assume responsibility for it. We cover closing costs, as well as the cost of repairs. In most cases, our offers are usually our final pricing.
Q: Would you consider buying my house in its slightly rundown state?
A: Yes, we will. We are never one to back down all because of the state of a property. We buy houses that have been damaged by water or fire, houses with HVAC issues, minor foundational issues, and the like. It would help if you saw some of the houses we bought in the past. The end goal of every house we purchase is renovating and reselling it. So we don’t mind buying rundown houses.
Q: How are your operations different from that of real estate brokers?
A: The only similarity we share with real estate agents is that we are both out to help you sell your property. But the way each of us approaches sales is rather different. A real estate agent is legally obliged to find a buyer for your property. And in achieving this, agents list properties on the Multiple Listing Service (MLS). They also organize many open houses and showings until the highest bidder comes along. This process may span a couple of months (usually three to six months), as buyers are not the easiest to find, especially when your house is not in perfect condition. When you finally find a buyer for your house, you will have to pay the agent a commission of 3% to 6% for his services. And if the buyer fails to secure a loan or finance, the buyer backs out of the purchase agreement. Then you have to start the whole process all over again.
On the other hand, our mode of operation comes with less stress and an enforced sense of security. We are not out to broker a deal with you on behalf of a third party. Instead, we are the actual buyers. When you sell to us, there will be no need to pay commissions or hidden fees. We assume responsibility for all costs and are swift enough to close the sale in record time. Also, as buyers, payments are not loan financed. We are capable of financing payment on all sales, so there’s no risk of us backing out.
Q: What happens when I submit my information?
A: Once we receive your information, someone from our organization will contact you. We’ll discuss your home, evaluate its condition, and make an offer. After that, the ball is in your court. We’ll go to a title company if you accept our offer and begin the closing process.