Frequently Asked Questions
Questions From Sellers
What are the advantages of selling my home to you?
Selling “As Is”: We purchase a properties “as is”, which allows you to avoid any repair and clean-up costs.
No cost or fees for our service: Our services are free. You will never pay any commissions or fees. We will provide you with an offer, but you are never under any obligation to accept our offer. We pay all closing costs!
Flexibility: We can offer you a variety payment options: cash, payment terms, taking over your existing mortgage, or a unique combination of strategies.
Fast Closings: – We can close within 7-10 days. How? Because we are “cash buyers” and don’t rely on financing approval, appraised values, or home inspections. Therefore, our closing process only takes a few days to complete and we pay all closing costs.
Local and Ethical Buyers: We are NOT wholesalers! We do not make an offer, put your house “under contract” and then try to sell that contract to another buyer for a “quick buck”. That’s not our style. When we make you an offer, we plan on following through and buying your house ourselves! We are NOT a typical “We Buy Houses” company. We only buy houses in a select portion of the North Metro Atlanta area. By narrowing our geographic range, we can better focus on market conditions in your area. Therefore, our offers are more competitive and fair. We only buy a few houses per year, so we spend more time crafting each deal. We are NOT “house flippers”. We do not buy distressed houses with the intention of fixing them and selling them quickly on the retail market. Although we might occasionally “fix and flip” a house, it’s not our preferred strategy. When making an offer on your house, we have two main goals in mind:
- Solving your real estate problem
- Buying a house that we can restore and turn into a clean, well-managed rental home for others
We focus on creating win-win situations
Will you buy my house for a fair price?
Because we don’t buy mass quantities of houses, and we are more selective in the houses we do buy, our goal is to make you a reasonable offer. Most of the houses we buy are older and need repairs. If this is the case with your house, our offer will be below market value, but we don’t try to “low ball” you or try to take advantage of your situation to boost our bottom line. If you don’t like our offer, you can simply say, “No thank you,” and walk away. Or you can enter into a dialog with us to see if we can tweek the offer’s terms to get you a higher selling price. You are never under any obligation, and if it’s not a win-win deal for both parties, then we won’t “do the deal.”
How do you determine an offering price for a house?
There are a number of things we take into consideration when putting together an offer on your house, and we need honest, straightforward information from you before we can proceed.
We look at the location of the house, including the neighborhood. We look at the age of the house, its current condition and any repairs that are needed. We look at the recent comparable sales and the current market rents for the area. We also take into account any liens or unpaid taxes that are attached to the property. If you have a mortgage on the property, we will need to know how much is still owed and its status (ie: current, behind in payments, in default, or in foreclosure).
We also look at what YOUR goals are. Why are you selling? Knowing your ultimate goal will help us to formulate an offer with terms that will best meet your needs.
What if I want a higher price for my house than your offer?
If you don’t like our cash offer, you can say, “No thanks,” and walk away. No hard feelings. Remember, YOU have to feel comfortable with the offer, or we will not move to closing. We will never pressure you to accept an offer. But, if you really want or need a higher selling price, then make a counter-offer! We are willing to open up a dialog; our goal is to find a selling price and terms that work for both of us.
The offer we initially present to you will be an “ALL CASH NOW” offer. With this option, we pay off the current mortgage (if there is one) and you get all the net cash from the sale of your house FAST at closing. This is a good option if you need all the cash immediately, and you don’t mind selling at a discount in return for speed and convenience.
If your house is “underwater” or “over-extended”, or you just really need to get a higher selling price, we can still make you an ALL CASH offer by purchasing your house “SUBJECT TO” the existing mortgage. With this type of offer, the original loan stays in place, we take over the payments, and you get more CASH in your pocket at closing.
If your main goal is to get the house sold, quickly, with no out-of-pocket costs, for the highest price, and you don’t need all the cash immediately, then we can make you a an offer that includes “SELLER’S FINANCING” . By agreeing to accept part (or all) of the cash from the sale of your house in the form of monthly payments (including interest), we can offer you a much higher sales price, even full market value! With this type of offer, you have the highest level of flexibility.
As you can see, we have many strategic tools we can use to create a win-win situation for us and for you. Give us a chance to create a deal that you feel comfortable with!
Where do you hold your real estate closings at?
The title company we use offers mobile closings. That means you sign all the closing documents at your residence, at a time that’s most convenient for you! But, if you prefer, you can always opt to close at their office in Buckhead.
Questions From Landlords
What if I don’t have a formal signed lease for my current tenant? Can you still buy my rental house?
There is no cut-and-dry answer to this question. Our decision is made on a case-by-case basis, depending on the specifics of your situation. Please Contact Us.
Questions From Potential Tenants
How do I apply for one of your rental properties?
To apply for one of our rental properties, first check to see if we have anything available on our Inventory Page. If you see a property that interests you, simply follow the links on the listing to contact the property management company for a showing and application.
How do you screen and qualify potential tenants?
We require each potential tenant (18yrs and older) to fill out a separate application and submit a $35 fee per applicant. The application fee is non-refundable and covers the cost of screening our applicants. Our management company will run the following screening reports on each applicant (18yrs+):
- Full Credit Report
- Criminal Reports and Court Records in all 50 States
- Social Security Number Verification
- Eviction Records in all 50 States
- Full Background Check, Including Verification of Employment and Previous Addresses
There are only two things that will automatically disqualify you from being a tenant. First, you must not have ANY evictions or eviction proceedings filed against you or any other member of your applying household. Second, any false information or misrepresentation listed on the application will disqualify you from being a tenant.
Other than the two situations listed above, we have no set of minimum qualifications in place. We look at each applicant’s screening report as an indicator of whether they will be able to abide by the rules of the lease, pay rent on time, and treat the property with respect. In order to be a tenant, your screening reports must show a pattern of responsiblity on your part. For example, having a previous bankruptcy will not automatically disqualify you. But, if it occurred 6 months ago, and you already have new collections against you, then you will be denied, because it shows a pattern of not paying your obligations. We apply the same principals when assessing your credit report, court records and criminal reports.
What are the terms of your lease agreements?
All our rental leases are for one year and can be renewed annually with a 60-day written renewal notice. All rent is due monthly, on the 1st, with a $10/day late fee added to the rent starting on the 4th. We require the full month’s rent, plus a security deposit and pet fees (if applicable) to be paid at the time the lease is signed. View a copy of our full rental lease agreement.
Do you offer month-to-month rental contracts?
No. At this time, we only offer 12 month lease contracts.
Questions From Buyers
With all that’s been happening, may people are unable to qualify for traditional funding to purchase a house right now. Some will be in a better situation for qualifying in 2-3 years. Those are the people we can help get into a home purchase right away. But for others, becoming a qualified buyer may take more than 2-3 years. If you find yourself in this situation, don’t worry…we can still help. We can get you into one of our rental homes, first. Once you feel like you are within the 2-3 range of becoming a qualified buyer, you can easily transition from your rental contract to a lease-purchase contract.
Remember, we like to think “outside the box” and will work to design a program that is beneficial to both of us.
How can I transition from being a renter to a being home owner?
First, you need to start thinking like a home owner. Owning a home takes more commitment than renting. Take pride in your house– for example, make minor repairs before they become big, costly ones, keep up with yard maintenance and pest control, and make sure you are paying your rent and utilities in a timely fashion. These are the kinds of things that make you a Valued Tenant.
As one of our Valued Tenants, the option of transitioning to home ownership is always available to you. At any point during your rental period, you can choose to switch from a rental contract to a lease-purchase contract, and start the process of becoming a home owner!