Frequently Asked Questions
Maybe you have a few questions. That’s okay, most people do. Here’s a quick collection of answers to some of the questions most people ask. If you still have questions, don’t hesitate to Contact Us. We’d be happy to answer them for you.
FAQ #1: Will you be listing my house on the MLS, or actually buying it yourselves?
Answer: Great question. We’re not real estate agents or brokers. So, we typically don’t list houses. (All though, we can have it done if the criteria warrants it.) We’re professional home buyers. We buy houses in Northwest Ohio and Southeastern Michigan that meet our purchasing criteria. From there, we often have to repair and spruce up the house to resell it to future home owner-residents. And, sometimes we keep it ourselves for a rental unit.
FAQ #2: Do you pay fair prices for properties?
Answer: Many of the houses we purchase are below market value. (We do this so that there is some room for our profit after the expense of repairing and marketing it, and then selling it to another home owner.) Its fair that Sellers give us a discount on the price of their properties in exchange for us taking on their headaches. However, in our experience, many Sellers aren’t expecting a large “windfall” profit on the sale of their nuisance property. Instead, they appreciate that we can offer them cash, and that they can close rather quickly; no waiting for financing or loan approval, and no time, effort or expense required on their part to fix up the property for sale, and pay agent fees. Its worthwhile to them, and a reasonable trade-off for a price discount! 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 agreement. (Remember, our no-obligation pricing commitment means you don’t have to move forward with our offer… you’re simply exploring your options!)
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FAQ #3: How do you determine the price you’ll offer for my house?
Answer: That’s another great question! We have nothing to hide. Our process is very straightforward. We look at the location of your property and its current condition. Then, we subtract the cost of repairs that are needed from the value of similar “comps” that sold recently in the area (houses that are comparable to yours in its fully-restored condition). As you know, house values took a huge hit the past 5 years, and most areas still haven’t seen their home prices go back up significantly. So, we take all of that into consideration, along with many other pieces of information that’s available to us, and come up with a fair price that works for you and for us.
FAQ #4: Are there any fees or commissions when working with you?
Answer: This is what makes us stand out from the traditional “real estate agent” method of house selling: there are NO agent fees or commissions when you sell your house to us. We’ll make you an offer, and if it works for you, we’ll buy your house. (We often pay the closing costs as well!). No hassles. No fees. We make our money after we pay for the repairs (if any) and sell it for a profit. We take all the risk as to whether or not we can turn it around and sell it again for a profit, once we’ve bought it from you and restored it… you walk away without the burden or the headache, and the payments… often with cash in hand.
FAQ #5: How are you different from a real estate agent?
Answer: Real estate agents list properties and hope someone comes to buy them. They show the property to prospective buyers, if they can attract any to that property. (The average “time to sell” of a property in many markets today is 6-12 months!) And, they take a percentage of the sale price as their fee, once they find a qualified buyer. Oftentimes, the agent’s commission is 6% of the sale price of your house; 3% each if your agent has to split their fee with the buyer’s agent who “found” your house for them. (Ex. – if a $100,000 house, you end up paying approx. $6,000 of your sales price in commissions fees to your agent, or $3,000. each to your agent and the buyer’s agent.)
Don’t get us wrong. real estate agents provide a great service, for those who can afford to wait 6-12 months for their property to sell, and who don’t mind giving up some of their equity to pay their agent’s commission. But that’s where we’re different! We’re not agents, we’re home buyers. Our company actually buys your house. And, we don’t list it on the MLS. Since we’re the ones buying it from you directly, and since we often pay all cash, we can generally make a decision to buy your house within a couple of days; sometimes even the same day. Again, we make our living by taking on your headaches. We take a risk that by buying your house and making whatever repairs and improvements that are needed, while paying all the holding costs (expenses associated with home ownership while in our possession; i.e., taxes, insurance, utilities, lawn care, etc.), and then marketing it to find a new buyer (which is hard in this economy), we can sell it as a newly-remodeled property and make a reasonable profit.
FAQ #6: Is there any obligation when I submit my info?
Answer: You have zero obligation when you tell us about your property. We’ll take a look at the info you provide, maybe set up a call with you to find out more about it, and maybe visit it with you, then run some numbers and make you an all-cash offer that’s fair for you and for us. From there, the ball is 100% in your court. You decide whether to work with us and accept our offer, or to seek your solution elsewhere. And, we won’t keep calling or hassling you about it either. If you decide not to sell to us, we wish you well with you situation! There’s no high pressure tactics from us to try and steer you toward a decision. We give you the information, you decide what’s right for you!
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Get the FREE Guide, then give us a call at (419) 930-9900 so we can discuss what your home is worth, and how much we can offer you to buy it from you, including our “All Cash“ program, or one of our other purchase options.