Frequently Asked Questions
Will you be listing my house on the MLS or actually buying it?
Where are you buying houses?
All of the areas we buy houses are located on our locations page.
Are there any fees or commissions to work with you?
How are you different from real estate agents?
Is there any obligation when I submit my info?
What is Owner Financing?
What are the benefits of Owner Financing?
Defer your capital gains tax until the loan is paid off. Loan payoff can be scheduled to occur at a time when the seller’s earnings are lower, such as after retirement. This would lower the tax burden on the capital gains generated through the balloon payment, provided the seller enters a lower tax bracket at the time of loan payoff. If the mortgage on the property is fully or largely paid off, the equity in the property may be very substantial, in turn leading to a large tax bill on the gain that results from selling it the traditional way in one upfront lump sum.
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.
Is Owner Financing legal?
What happens if the economy crashes and you can no longer make the Owner Financing payments?
What is your Mortgage Assumption Program?
Is the mortgage still in my name?
If you decide to take advantage of our mortgage assumption program, then yes. In fact, our mortgage assumption program will also result in a substantial boost to your credit score, since the bank will see that we took over making the monthly mortgage payment on time and will raise your credit score as a result.
Can I buy another house with my existing mortgage in place?
What about the Due-On-Sale clause?
When are you going to pay off my mortgage?
How do you determine your offers?
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 multiple offers for you to choose from. Usually, the offer selections will include
- an all-cash offer
- an Owner Financing offer
- an offer combining both cash and Owner Financing