Frequently Asked Questions
Maybe you have a few questions. That is okay; most people do. Here is a quick collection of some of the questions people ask us… along with our answers. If you still have a question, do not hesitate to contact us (or give us a call) and we will be happy to answer it for you.
Will you be listing my house on the MLS or actually buying it?
Great question. We are not agents, and we do not list houses. We are professional home buyers: We buy houses in L.A 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.
Do you pay cash prices for properties?
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 discount on a property. However, in our experience, many sellers are not necessarily expecting a large “windfall” on the property but rather appreciate that we can offer cash, we close very quickly (no waiting for financing), and no time or effort or expense is required on your part to fix up the property or pay agent fees. If that is what you are looking for and you see the value in getting your house sold fast… let us see if we can come to a 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 is good to know what we are offering!)
(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.
How do you determine the price to offer on my house?
Great question, and we are 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. As you know, house values have taken a huge hit in the last 5 years and most areas still have not seen prices come back up. We take many pieces of information into consideration… and come up with a price that works for us and works for you too.
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 will make you an offer, and if it is a fit then we will buy your house (and we will 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 are 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).
Are there any fees or commissions to work with you?
How are you different from a real estate agent?
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 3-6% of the sale price of your house (so if it is a $100,000 house, you will pay between $3,000 – $6,000 in commissions to an agent). Agents provide a great service for those that can wait 6-12 months to sell and who do not mind giving up some of that sale price to pay for the commission. But that is where we are different: We are not agents, we are home buyers. Our company actually buys houses. We do not list houses. Since we are 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).
Is there any obligation when I submit my info?
There is absolutely zero obligation for you. Once you tell us a bit about your property, we will take a look at things, maybe set up a call with you to find out a bit more, and make you an all-cash offer that is great for you and great for us. From there, it is 100% your decision on whether or not you would like to sell your house to us… and we will not hassle you, will not harass you… it is 100% your decision and we will let you decide what is right for you.