Questions
Everything sellers ask me, answered.
Including the skeptical ones. If you are wondering whether a cash buyer is ripping you off, that is a reasonable thing to wonder, and those questions are answered here too rather than avoided.
The offer and the process
How do I get an offer?
Send me the property address. I pull the details and comparable sales, call you, then come and walk the house. The numbers follow that visit, in writing. The whole process is written out here.
Why will you not give me a number over the phone?
Because a number given without seeing the house is a guess, and guesses get revised downward after an inspection, usually once you have already made plans. I would rather give you one number, slightly later, that I intend to close at.
How long does the visit take?
Thirty to forty-five minutes for most houses. You do not need to prepare anything, and you can ask me what I am seeing as I go.
Am I committed if I send my address?
No. Nothing binds you until you sign a purchase agreement. Plenty of people get their numbers and decide to do nothing, and that is a normal outcome.
Can I get the numbers without you seeing the house?
No. I can give you a rough range from the data, and I will tell you plainly that it is a range rather than an offer, but a real number needs the walkthrough. I am not going to put a figure in front of you for a house I have not stood in.
Money and costs
What does this cost me?
Nothing to get your options priced. On a cash sale there is no agent commission, because I am the buyer rather than your agent. Normal seller closing costs appear on the settlement statement before you sign it.
How and when do I get paid?
At closing, by wire or check from the title company, usually the same or next business day. Any mortgage and liens are paid off from the proceeds first.
Do you actually have the funds?
Yes, and you should ask. Ask any cash buyer for proof of funds before you take them seriously. A buyer who cannot show it is probably intending to assign your contract to someone else.
Will I net more by listing it?
Often, yes, if you have the time and the house is in reasonable shape. That is why I price both. The comparison is here, including the row where listing wins.
What about taxes on the sale?
That depends on your circumstances, how long you owned it, and how you acquired it. Ask an accountant before you sell rather than after. It is one of the few conversations here worth paying for.
The house itself
Do I need to repair anything?
No. I buy as-is. If repairs would genuinely pay for themselves I will tell you, and fix and list is the route where I fund them rather than you.
Do I have to clean it or empty it?
No. Take what matters to you and leave everything else, including furniture and whatever is in the garage. Clearing it is my problem after closing.
What if the house is in really bad condition?
That is the normal case rather than the exception. Hoarded, fire damaged, water damaged, empty for years. None of it is shocking and none of it changes how you get treated.
Do you buy mobile or manufactured homes?
Sometimes, and it depends on whether the home is on land you own and how it is titled. Send the address and I will tell you honestly rather than string you along.
Is there an inspection I have to pass?
No. I look at it myself and price what I see, so there is no inspection contingency and no renegotiation afterwards.
Your situation
I am behind on payments. Is it too late?
Usually not, and selling is not your only option. In some cases it may be worth your time to reach out to a free HUD-approved counselor. The foreclosure page explains the timeline and where selling does and does not help.
The house is in probate. Can I sell?
It depends on how it was titled and what authority the court has granted. The inherited house page covers what to sort out first, and a probate attorney can confirm your position in one conversation.
We are divorcing. Can one of us sell?
Generally not without both signatures if you are both on title. The divorce page covers the options, including the mortgage problem that a decree does not solve.
There is a tenant in it who will not leave.
You do not have to evict first. I buy occupied rentals and take on the tenancy at closing. More on that here.
Can I stay in the house after it sells?
Sometimes, through a leaseback. You close, take the equity, and stay on as a tenant for an agreed period.
I have already moved out of state.
Not a problem. I walk the property and closings can be handled remotely. More for people relocating.
The skeptical questions
These are the ones people think and do not ask. They deserve straight answers more than the easy ones do.
Are you going to resell my house for more than you paid me?
Usually, yes. That is the business, and I would rather say so than pretend otherwise. I take on the repairs, the holding costs, the market risk and the work, and I aim to make a profit for doing it. What you are buying from me is speed and certainty. If that trade is not worth it to you, list the house instead, and I will tell you so.
Why is your offer lower than the online estimate?
Online estimates assume a house in average condition sold on the open market with commissions paid out of the proceeds. A cash offer on a house needing work is a different number by definition. Compare like with like: what you would net after repairs, commission, holding costs and time, against what you net from me on a date you can count on.
Are you a wholesaler?
No. A wholesaler puts your house under contract and sells that contract to an investor, so the person who turns up is not the person who buys. I am a licensed agent with Omada Real Estate buying as a principal, which is also why listing is a real option here. I do not do the listing myself. An agent on my team lists full time, so the person pricing your house for the open market is not the person who might buy it.
How do I know this is not a scam?
Reasonable question. Check my license with the state. Ask for proof of funds. Insist that closing happens at an independent title company, which is where the money and paperwork should go rather than through me. Never send wire details from an email. And take any contract to your own attorney. None of that will offend me, and anyone it does offend is telling you something.
Will you pressure me?
No. You will not get a deadline invented by me, and you will not get repeated calls if you say no. If you go quiet, I will assume you decided against it.
What happens to my information?
It stays with me. I do not sell enquiries to lists of investors, which is why you will not start getting calls from five other buyers. See the privacy policy.
Question that is not here?
Call and ask. You will get a straight answer, including when the answer is that I cannot help.
Question not answered here? Call or email me and ask it directly.