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We Buy Houses... Everything you want to know.
How soon can I get no obligation offers to buy my house.
You should start getting contacted by investors within a work day of submitting the No Obligation Offer form. Once you submit the form, it is immediately forwarded on to our investors within our network (HousesFast is not a franchise and all offices work independently). Within days, you could be well on your way to receiving cash offers from local investors. Many investors would like to look at the house you have for sale first before they make an offer, so they can evaluate its condition and necessary repairs. Some investors may actually not have to look at the house before making an offer, but would just make their offer subject to inspections and estimate of repairs. Who are the house buyers and where are they? HousesFast.com is the place where you'll find house buyers who can make fast offers to buy your house. Just submit your house to get started and we'll have investors contact you as soon as possible. Once you give us the details of the house you have for sale, we'll get your information right to local investors in our network who can make fast offers for you to consider. If you have an ugly house to sell you'll also want to check out our, "do we buy ugly houses" page, for a lot of valuable information on getting offers, pricing and what kind of options you have for selling. We really do want to give you all of the information you might find useful and necessary in the process of selling your house. Investors just make offers, from there it will be up to you whom you decide to work with and to choose a suitable offer for your needs. We have investors who can buy with cash, or work out other financing options, depending on the needs of your situation. The investors who receive these leads on houses for sale work independently from HousesFast and you may get one, or more offers, from investors working separately. Our investors buy houses in most States, but there are some cities which are not covered. If you're not able to get offers on your house, then it's possible we do not have investors buying houses in your area within our network. After you submit the information to sell your house, you should be contacted by investors wishing to make an appointment in a day, or more, depending on what day of the week you submit your request. You can probably get an acceptable offer within days, but the time to close will vary depending on the circumstances of each property. For example, if you find an investor who would like to buy your house for cash, he may be able to close within a week, but traditionally would need a few. If you have a deadline due to some unavoidable circumstance such as a pending foreclosure, be sure to decide on an offer as soon as possible, because it will usually take no less than a week or two to close, once an offer has been accepted. If the investor / buyer is purchasing your house with traditional financing, it will usually take about 30 days, unlike a cash, or "subject-to existing financing" purchase.
A cash sale is often the first option home owners will choose in selling their property, but certainly not your only option. Whether you go with a cash option, or decide to carry back some of the financing, will be entirely up to you. Cash buyers can be a good option for you to sell your house and we certainly have a lot of cash buyers within our investor network. While you will not receive retail value for the house you are selling, it may still be worth your while and should be weighed against your other options and offers. Sometimes you can negotiate a higher sales price with an investor buyer if you agree to take back a note against the property for a period of time. If you do agree to take back a note, it should be properly secured by the property (see owner finance options). These are details you will need to discuss with the investor making the offer and come to a mutual agreement on. The main thing to know is there are plenty of ways to accomplish what you need to do, whether or not you are able to find a cash buyer. Receiving cash for your house may have tax implications (capital gains tax) that you may not want to deal with this year and might even leave you in the minus. Of course that would depend on your "basis" in the property vs. what it is sold for.
Only selling for cash may not get you the best overall sales price depending on the offers you receive, demand for your property and the amount of equity you have in it.
We Buy Houses by taking over payments When there's no equity in your house to be sold. This scenario happens more often than not, usually a seller who has owned their house for 2 years, or less. When the house was purchased a considerable amount of financing and closing costs were probably rolled into the loan, so even if the house was purchased with 10% equity, it doesn't mean there is any to speak of. If there is not enough equity in a house for investors to be able to resell, have closing, holding, repairs costs and still make some profit, then many investors cannot purchase this kind of property.
That's where taking over payments and or, short sales come in. An investor may be able to take over your payments. This depends where you are, what type of loan you have and other details.
A cash offer may be right for you, but is not always your best option. Cash offer usually means a reduced offer, whereas if you were to take back a note for a year, or even months, you may be able to keep a good deal more of your equity. When investors decide to make offers on your property, you may ask about the different options available to you so you will be knowledgeable about your choices. An investor will typically offer you a number of options to buy your house, including you taking back a portion of the financing (otherwise known as owner financing). For example:
In the above scenarios, the investor is likely to be investing their own money in the rehab of the house, increasing it's value. If you decide on any financing options where you still have money in the property, you'll want to make sure your note is properly secured by the property. You should use a note, deed of trust, mortgage (documents and terminology vary between states) properly prepared by an attorney. If you close at a title company, their attorney should provide the proper documents, otherwise you'll want to have an attorney look over your note to make sure it is secured by the property, under the terms you have agreed on. For the home seller who would rather sell now, but get more cash later for selling his home. Some investors will offer to pay you more cash at the end of rehab and resell. If you agree to an arrangement like this, you'll want to make sure your financial position in the property is secured by a lien on the house. A title company and or, attorney can prepare the proper documents for this. It is not recommended to do this type of transaction without an attorney preparing the right documents.
Important things to know about selling a home: Use a Sellers Disclosure form. Many states have disclosure laws which require you the seller to disclose a required list of details about the property. Some Realty companies, or associations have created forms called a "sellers disclosure", which can be used for this purpose. Not disclosing all of the required details of a property on a signed document can potentially be a problem for you, or give your buyer an alibi out of a contract. For this reason, it is a good idea to get a sellers disclosure form and to use it. You ought to fill it in as detailed and accurately as possible, with the main thing to remember being, the form is to protect you. This way you don't have a buyer coming back later and saying well you didn't disclose certain problems, water leaks, foundation problems, etc. When selling a house is always better to give too much disclosure than not enough. If a buyer decides that they really like a property, usually they're not going to change their mind over disclosure of a small repair. Of course, a large repair may be another issue entirely, but to protect yourself, these are the things that will be most important to disclose. As for investor buyers, they're not likely to be scared off by disclosure of any repairs, after all this is the business they are involved in and they deal with these kind of problems every day.
Read your contract & understand what you're doing. Surprisingly, most people do not read contracts before signing them, something unscrupulous persons know and may take advantage of. You may save yourself a lot of trouble and or, misunderstandings, by simply reading your contract and any paper work before you sign it. In fact, if you've read all of this article all the way down to this point, you're probably well ahead of the average person who does not read everything they ought to. While it is common that you would not understand all of the verbiage in a contract, you should ask questions and try to understand anything you don't.
It's up to you to choose your investor buyer. The investors within HousesFast and House Buyers National Network, all work independently. We are not a franchise and the investors in this network are from many different companies. This network was setup to provide sellers a place to get fast offers to buy their house, through distribution of information within the National network. It is important for you the seller to choose whom you work with. Get to know your investor buyer, become as familiar as you can with the process and what they are specifically offering. Though you may not have much time when needing to sell your house, it is still worth spending the time to go over contract details and getting to know your investor buyer better. You may save yourself time in the long run by understanding what it is that you are signing and the type of deal you're getting into. There's no reason to feel pressure from your buyer into signing an immediate contract. Remember that it is up to you the seller to decide when to sell and whom to sell your house to. If you do not feel comfortable with the buyer you're communicating with, then perhaps you should do some more looking around. On the other hand just because an investor buyer has all the right words and seems very convincing does not necessarily mean that this transaction is for you. You should still review the contract and make sure that what he is saying, is actually what you are signing. You must evaluate each offer on its own merits and try to get a clear understanding of what you are being offered. You may then proceed at a comfort level you're comfortable with.
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