FAQs about selling your house to an investor in South Texas area
Maybe you have a few questions. That’s okay; most people do have questions of how selling your house to an investor works. 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 glad to answer it for you.
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 South Texas area 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 or sell it to another investor who works in your area. IF your house is a condition that you would get a better deal by listing on MLS we can help with that also.
Q: Do you pay fair prices for properties?
A: Many of the houses we purchase are below market value (we do this so we can resell it at a profit to another home owner). We are looking to get a fair discount on a property. However, in our experience, many sellers aren’t necessarily expecting a large “windfall” on the property but rather appreciate that we can close very quickly (no waiting for financing), and no time or effort or expense is required on your part of fix up the property or pay agent fees. We are offering based upon the costs to repair plus the cost to hold the house while we are rehabbing and paying the costs of buying from you. So while we don’t offer retail prices we work to arrive at a price that works for both of us. If that’s what you’re looking for and you see the value in getting your house sold fast… let’s see if we can come to a fair win-win price. (Besides, our no-obligation pricing commitment means that you do not have to move forward with the offer we give… but it’s good to know what we’re offering!)
All investors follow the same basic criteria when buying: can they purchase the house at a price that allows them to pay the sellers closing costs, repair the house, pay the holding costs when the house is being repaired and rehabbed, and paying the costs to resell the house and hopefully have some money in their pocket (profit) for doing all the work. And all of that adds up to about 30% or more of the retail value of the home. So anyone who is not looking for a lower price for their home to avoid the work would have to do the work themselves to hopefully get that profit for themselves.
[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. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.
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 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 all of the risk 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 it’s payments… and often with cash in your hand).
Q: How are you different from a real estate agent?
A: Real estate agents list properties 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 about 6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay about $6,000 in commissions to an agent). Agents provide a great service for those that can wait a few months to sell and who don’t mind giving up some of that sale price to pay for the commissions. In South Texas area sales in the lower price range are hot at this time. But even with that being the case, the house must be in a condition that a buyer can get a loan. So any house that has some issues like roof or a/c needing repair or worse foundation repairs will have to be repaired before a buyer with a loan can close on the loan.
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).
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 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. We look at all your options and explain those to you so you can make an informed decision.
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