Frequently Asked Questions
You may have a few questions. That’s okay; most people do. Here’s a quick collection of some of the questions people ask us… along with our answers. If you’d like to know more, don’t hesitate to contact us (or give us a call at 828-713-3322) and we’ll be happy to answer any additional questions you have.
Q: Will you be listing my house on the MLS or buying it yourself?
A: Great question. We’re not agents, and we don’t list houses. We are professional cash home buyers. We buy houses Asheville that meet our purchasing criteria. From there we may repair the house and resell it, or keep it as a rental.
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 rent or resell it at a profit ). We are looking to get a fair discount on a property in exchange for a no-hassle cash purchase. The amount of the discount depends primarily on the potential for the property. If we can find a creative way to add value, we can occasionally get very close to what you would end up with by selling through an agent after fees, repairs and closing costs. However, in our experience, many sellers aren’t necessarily expecting a large “windfall” on the property but rather are looking to solve a pressing problem or sell an “ugly duckling” house quickly and with certainty. Most folks appreciate that we can pay cash, close quickly (no waiting for financing), and buy your house as-is, taking responsibility for all problems and repairs. If that’s what you’re looking for, and you see the value in getting your house sold fast… give us a call and we’ll keep working together until we arrive at a fair win-win price. Keep in mind that you are always in control of the process, and if you don’t like what we can offer, you can just walk away, then keep the house, or look for someone else to buy it.
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Q: How do you determine the price to offer on my house?
A: Great question. We’re an open book: Our process is very straightforward. We look at the location and quality of the property, what repairs are needed, and values of comparable houses sold in the area recently. We then allow for the interest cost of holding the property in cash, then a reserve for profit and the inevitable unexpected events that bite into those projected profits (such as finding radon or mold after we have closed with cash and you have happily moved on). We openly share our comparable sales information, the interest rates we’re paying, and average profits made on these projects so you know we’re making the best cash offer we possibly can. We’re not looking to get rich on every project, but rather to make enough to pay our contractors and lenders, and be ready for the unexpected issues that are unfortunately always a part of repairing and reselling houses.
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 to us. We’ll make you a fair cash offer, and if it’s a good fit we’ll buy your house. No hassle. No fees. We make our money only after we pay for repairs on the house (if any) and sell it for a profit. We handle every bit of risk of overestimating value, underestimating repairs, or finding horror stories such as hidden foundation cracks or termites as we do our repairs. Whether we win or lose in the end, you walk away with cash, with no hassles and no responsibility.
Q: Do I have to move out? If so, when? Can you help me find another place to live?
A: We can arrange for you to stay up to three months while you find a rental or shop for another house, with cash in hand. We do hold back a portion of the sales price as a deposit. In some cases, we can also rent your house long-term directly to you, so you can sell your home and still live in it – so why not have your cake and eat it too? Better still, we often have area rental houses available, and can even help you move into one of them, providing a true no-hassle transition.
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 4-8 months) and then take a percentage of the sale price if they find a buyer. Total agent commissions (buyer’s and seller’s agent) are typically 6% of the sale price (so if it’s a $200,000 house, you’ll pay $12,000 in commissions to an agent). Agents provide a great service for those that can wait 4-8 months to sell and who don’t mind giving up some of that sale price to pay for the commissions. Agents then sell your house to a retail buyer, who may renegotiate the price and terms, demand that repairs be made before closing, then possibly bail out entirely due to financing issues, or any other reason of their choosing, losing only a small due diligence fee. 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 the one buying the house from you, and since we pay with all cash… we can make a decision to buy your house within a couple days (sometimes the same day). We then put down real earnest money (up to $5,000) to guarantee that we deliver cash as promised, so you can rest easy and move on. 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.
Q: Is there any obligation when I submit my info?
A: Not a bit. We don’t buy every house we look at, and we’re always happy to walk away from a situation that doesn’t feel right to you, or to us. We can spend as little as 5 minutes or as much as 30 on the phone to decide whether we have good potential to work together. If it looks like a good possibility for us (and for you) we’ll come visit the house as soon as that same day, spend 30 minutes to an hour there, and make our best cash offer on the spot. If you like it, we can start the closing process that day, and get you cash as soon as 7 days later. If you don’t like our best offer, no problem at all. We can only buy about one house per month, so if your house or situation isn’t a good fit we’ll save our cash for the next call we get.
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