Frequently Asked Questions
Selling Houston Area Homes in Any Condition for CASH !
Q: Why should I sell my home to houston-home-buyers.com instead of listing it with a realtor?
A: We offer you several very attractive advantages that a realtor cannot offer:
1) NO REPAIRS !!!! We buy Houston homes in any condition - "as is" - warts, blemishes and all for cash. We are rehabbers and we will worry about your dead A/C unit, and termites, cracked home foundation / concrete slab settlement repair, exterior brick cracks, under slab plumbing leaks. We have seen it before. Just send us an email or give us a call!
2) It is a FAST SALE and FAST CASH !! We move very quickly - usually 10 days or less. If you are in a foreclosure situation or bankruptcy situation, we can help you with your situation. We buy Houston homes in any condition for cash !
3) CERTAINITY !!! When we make a CASH offer for a home in "as is" condition with a closing date of 10 days or less then you can have confidence that your home will be sold. When you list a home with a realtor, your home is just one of many in their property inventory. Why wait months on a realtor who may never sell your home? To sell your home, send us an email or give us a call!
Q: Won't I sell my house for more money if I use a realtor?
A: Not necessarily. You have plenty of costs when attempting to sell your home at RETAIL market prices through a realtor.
Add up these costs . . .
- 6% realtor commission
- 3% closing costs
- structural and other repairs required by the lending institution and/or buyer
- additional mortgage payments
- cleaning costs
- opportunity cost of waiting months for a realtor's sale that may never happen
Quick Offer 24 hrs
Q: Are you interested in buying other forms of real estate such as condos, townhomes, multi-family, raw land, or commercial property?
Our focus is buying houses, but we will buy any real estate that meets our criteria. Please give us a call or send an email.
Q: Do you charge a fee?
NO. We are investors. There are no fees or commissions associated with our efforts. However, if the property owner has listed his / her property with a realtor then a commission may be due to the realtor.
Q: Will selling my home let me avoid foreclosure?
In almost all cases you can stop foreclosure by selling your home. Every situation is slightly different and we can discuss the situation with your lender.
Q: How do you determine the offer price for my house?
This is a great question. We analyze the following: the location, the physical condition of the house, what repairs are needed, the values of comparable houses recently sold, the time frame for a rehab and a re-sale, and the overall market risk. We analyze all of these factors and we leave some room for our profit. Then we make you our cash offer. And cash offers are the best offers because there are no qualifications with third parties, no delays, and no risks for you, the seller.
Most of this process is an "art" rather than a "science" and sometimes we misjudge a market or the market changes after we have made a purchase. But we are assuming all of the risk. We are not perfect and we have lost money on houses in the past. Again, that is our risk.
Q: What is the difference between your company and a real estate agent?
Real estate agents are the legal representatives for the seller and it is their hope that a buyer will purchase your house in less than one year. Of course, the buyer usually has to qualify for a loan and your house must be in good to excellent physical condition before a lender will lend money.
On the other hand, we are real estate investors that purchase houses with 100% cash. It is a very simple and MUCH QUICKER process compared to real estate agents and their commissions, bankers, mortgage lenders, buyer qualifications, house inspectors, surveyors, and more.
Q: Is there any obligation if you visit my house and submit an offer?
No. Once an offer is made there are only 3 possible outcomes: 1) you say "yes" and accept, or 2) you say "no" and decline, or 3) you make a counter offer. It is very simple. There are NO obligations from any party until a formal real estate contract is signed by both parties.
Q: If a homeowner dies without a will, how does the spouse get title to the property?
In these situations the homeowner has died "intestate" or without a written will and Texas laws will direct the final outcome. This is where an attorney and title company can be most helpful. In general the surviving spouse receives one-third of the deceased spouse's property and the remaining two-thirds is divided among the decedent's children.
Q: What are the tax implications when I sell my home?
First and foremost, ask your CPA or tax advisor for help with this question. However, most people will find the following IRS rules will apply:
For a single person, up to $250,000 profit is tax-free IF you lived in the house for two of the five years before the sale. For married couples filing a joint return the tax-free amount is $500,000.
But there are SPECIAL Circumstances to these rules such as divorce, death of a spouse, members of the military, etc. So again, asking for advice from a CPA or tax advisor is a smart decision.
Two sources of valuable information are listed below:
Q: What is a deed?
It is the document that transfers ownership of real estate from the old owner to the new owner. It also contains a legal description of the property and is signed by the person transferring the property.
Q: What is a trust deed?
A trust deed is also called a "deed of trust" and it differs from other types of deeds. It is not used to transfer property but rather it is hybrid version of a mortgage. A trust deed transfers title to real estate to a "trustee," usually a trust or title company. The trustee holds the real estate as security for the loan that was made to the buyer (borrower). When the buyer pays off the loan, the title is then transferred to him. The trustee has no powers unless the borrower defaults on the loan. In that case the trustee can foreclose on the property by selling it and paying the lender back from the proceeds. Foreclosure usually does not need court approval.
We can do a 15 minute walk-through and make you a CASH offer in 24 hours. How does that sound?
Call us at 281-231-2703 or E-mail us and we will be happy to answer any of your other frequently asked questions.