Frequently Asked Questions
We’re here to help answer any questions you may have about selling your home to us. If we missed anything, please contact us.
Great question. We are professional home buyers: Although we have headquarters in Nashville, Knoxville, and Memphis, Tennessee, we buy houses Nationwide that meet our purchasing criteria. From there, we may repair the house and resell it on the MLS or keep it as a rental ourselves. We also focus on giving back to the communities we serve by converting some of our properties into Adult Family Homes or Shared Housing solutions for homeless and disabled veterans.
Cut out the middleman and become the bank/lender for steady, predictable income every month without dealing with tenants and toilets. For example, a seller gets a price of $500,000 on his or her property and agrees to finance that amount for 10 years. The seller would receive $1,388.89 per month throughout that 10-year period, but without the hassles of managing the property or dealing with tenants and toilets. This income becomes normal investment income to the note holder.
Most owners experience a 150 to 200% increase in their income by selling via owner financing. If you are a landlord, many have not raised rents on their tenants for years, pay all utilities, and their return compared to their equity is very low. By selling via owner financing, we have seen some owners receive well over 200% of the income they had before selling.
Owner-financing transactions can be quicker than conventional ones. There is no need to wait for the bank loan officer, underwriter, and legal department to analyze the deal. With owner financing, you can cut out the middlemen, become the bank, and close on your timeframe. With owner financing, you truly get to sell your way. You are in control.
We don’t care if the economy goes up, down, or sideways. We base our Owner Financing offers on the spread between the income the property generates from operating an Adult Family Home or Shared Housing solution and the monthly payments we make to you. We also enter into what’s known as a performance deed with you. The performance deed states that if we don’t perform, you get the house back after 30 days after the monthly pay date. You don’t have to call us or speak to us. If we fail to make the owner financing payments, ownership is revoked from us and the home is given back to you in 30 days. No need to go through a formal foreclosure process.
Our mortgage assumption program involves keeping your existing mortgage in place while we take over making the monthly payments on your behalf. Typically, our sellers determine that our Mortgage Assumption program is right for them if they have an existing mortgage in place and are looking to substantially improve their credit score. The bank will see that your monthly mortgage payments are being made on time and will raise your credit score as a result.
Usually within 12-36 months, although we could choose to leave it in place until we’ve paid it off in full. We are buying your house based on the value in the existing mortgage. This is because we can fix up and manage the property ourselves as either an Adult Family Home or Shared Housing Solution for homeless and disabled veterans. We then collect a spread between the income that the property generates and the mortgage that’s in place.
- an all-cash offer
- an Owner Financing offer
- an offer combining both cash and Owner Financing
We can work with you to cover certain closing costs. Homeowners are responsible for HOA transfers fees, taxes, and any outstanding liens or judgments.
We will need access to your entire property during the inspection. Our team will answer any questions for you prior to the inspection.
Our inspections are typically completed within 1-2 hours for a single family property depending on the size of the property. A multifamily property may take a bit longer.