Maybe you have a few questions. That’s okay; most people do. So here’s a quick collection of some of the most frequently asked questions about kcmoHomeBuyer… along with our answers. If you still have a question, don’t hesitate to contact us (or give us a call) and we’ll be happy to answer it for you.
Q: Will you be listing my house on the MLS or actually buying it?
A: Great question. While we are agents, we would rather buy your house and move fast rather than list it. We are professional home buyers: We buy houses Kansas City that meet our purchasing criteria. From there we may repair the house and resell it to another homeowner or keep it as a rental ourselves.
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 resell it at a profit to another homeowner). We are looking to get a fair discount on a property. However, in our experience, many sellers aren’t 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 of fix up the property or pay agent fees. If that’s what you’re looking for and you see the value in getting your house sold fast… let’s see if we can come to a fair 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’s good to know what we’re offering!)
[DOWNLOAD our free guide that walks you through the Pros and Cons (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. Head on over here download your free guide →]
Q: How do you determine the price to offer on my house?
A: Great question, and we’re 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. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.
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 us. We’ll make you an offer, and if it’s a fit then we’ll buy your house – we don’t charge you anything to buy your house. No hassle. We make our money after we pay for repairs on the house (if any) and sell it for a profit (we’re 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).
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 2-3 months) and then take a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 6 to 8% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $3,000 – $6,000 in commissions to an agent). And most Agents have a minimum, so if you sell for $20,000, they will probably want a minimum fee of $2500 or more. Agents provide a great service for those that can wait months to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different: We can tell you what we can do for you as an agent in the several month time frame if that is what you would prefer or we can act only as a home buyer and provide you with a quick cash offer. Our company actually buys houses. Since we’re 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 of 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).
Q: What if I have no money to pay the title company?
A: Yes, the title company that closes the transaction will usually have a few fees. This usually include the cost of an owners title policy and the cost of closing the transaction, these are standard fees in most transactions. There can also be charges that are not really fees, but costs to pay off any taxes, liens, and judgements. They will need funds to pay off these taxes, liens, and judgements plus any filing fees and wiring fees associated with these items. The seller does have to pay these items, BUT the money to pay these typically comes out of the the proceeds of the sale. And when they come out of the proceeds of the sale, no money is needed on the seller’s part to close the transaction.
Q: Is there any obligation when I submit my info?
A: There is absolutely zero obligation for you. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out a bit more, and then come visit the property and then formulate a number so we can make you an all-cash offer that’s fair for you and fair for us. From there, it’s 100% your decision on whether or not you’d like to sell your house to us… and we won’t hassle you, won’t harass you… it’s 100% your decision and we’ll let you decide what’s right for you.
Q: How do I know if I sign over the deed that I will get paid?
A: All of our transactions are closed through a third party closing agent: a Title Company. They collect all funds coming from the buyer in the form of funds from lenders and cash from the buyer, they pay off all of the taxes, liens and judgements tied to the house, they make sure all paperwork is completed correctly and then and only then do they pay the seller their funds and deed the house to the buyer. The only way to know that you will get paid is when the transaction is processed through a Title Company or a Closing Attorney.
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