We buy houses. You’ve either seen their signs or heard their radio commercials. They are spreading their message even in a competitive real estate market. But, who are these people and how can they be able to buy houses all the time? Where are they getting the money? What are they going to do with those houses? Let’s take a peek. Visit us for great deals in Leave The Key Homebuyers
They’re investors, first of all, and investors want to make money. Since they have been around for awhile now, even in difficult economic times, it is likely that their business model is working for them. They make money.
There will be some items in their presentation as they meet a homeowner who is considering selling his or her house. This is what you’re going to expect:
– We’re going to pay in cash;
– We’re going to settle quickly;
– The fees or commissions to be charged to the real estate agent would not be paid;
– You’ll probably be asked how much you owe the house in mortgages and other liens;
– For any kind of checks, we would have no contingencies;
– In its as-is state, we will buy your house;
– You won’t have to make any repairs;
– They are likely to walk around and through the house performing an obvious assessment of its condition;
– Even if they are going to buy the house as it is, they are always going to point out the things they find wrong with your house;
They’re going to make you a bid and they’re going to have the paperwork ready to go.
It sounds like a very good direction to follow so far. It’s a hassle-free way to get your house sold.
Indeed, it is an expedient and advantageous way for a homeowner to sell his or her home in some instances. This isn’t always the case, however. Let’s look a little closer.
You can earn cash when you go to the settlement table, even though the buyer is having a loan to buy the home. If you fund the house yourself, which is rarely the case, the only way you won’t earn cash is. They should send you a pre-approval letter before the buyer gets a loan, and they should finally show you a loan agreement letter from their lender. It is almost as good as the purchaser getting cash when this happens. You should take similar measures to that of a buyer using a loan when someone is paying with cash. First, they should have proof that they have the money, and second, they should ultimately be able to put it in an escrow account before payment, which would decide that the object of the money is to buy the house. They are likely to be hesitant to do this.