Frequently Asked Questions
Have questions? That’s okay; most people do. So here’s a quick collection of some of the most common questions people ask us… 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: We are not looking to list your house. We are professional home buyers and renovators: We buy houses Idaho that meet our purchasing criteria. We either use our own cash, cash from our investors, or creative financing to purchase homes quickly and easily. From there we will either 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: Yes. But remember, we are a business. We can only buy homes if we can earn a return on our investment by fixing them up and reselling them or renting them out for monthly cashflow. Many of the houses we purchase are below market value (we do this so we can renovate them and then resell them 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.
Q: How do you determine the price to offer on my house?
A: We use a straightforward, mathematical approach. In a cash purchase, we look at values of comparable homes that have been fixed up and sold in the area recently. Then we make adjustments for the location and features of the property. Based on the age and current condition of your house, we create a renovation budget and timeline and subtract that from the offer. Lastly, we subtract a profit margin – the money the company makes for fixing up the home and taking a risk that we can resell it. If that offer amount works for you to get your fresh start, then we’re in business!
If you don’t need all of your cash at once we can sometimes offer more for your home. In this case, we will base our offer more off of it’s monthly rental potential. If you have a low or no mortgage, we can make a payment to you monthly. If you do have a mortgage but can’t or don’t want to make your payments any more, we can often make your mortgage payment for you. In this case we just need to make sure our purchase price and terms allow us to earn some cash flow after expenses, maintenance, and vacancy by renting the home out. These solutions often work well for retiring landlords, avoiding capital gains, people downsizing, inherited homes, or folks with low or no equity.
Q: Are there any fees or commissions to work with you?
A: No. This is what makes us different from the traditional method of selling your house: There are NO fees or commissions when you sell your house to us. We’ll make you an offer, and if it’s a fit then we’ll buy your house (and we’ll often pay for the closing costs too!). No hassle. No fees. We make our money after we pay for repairs on the house and sell it for a profit (we’re taking the risks 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 its payments… and often with cash in your hand).
Q: How are you different from a real estate agent?
A: Real estate agents list properties on the MLS 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 6 months or more) and then take a percentage of the sale price if they find a buyer. In Idaho, the agent’s commission is usually 6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $6,000 in commissions to an agent). Agents provide a great service for those that can wait 6-12 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’re not agents, we’re home buyers. 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: 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 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.
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Learn The Pros and Cons Of Selling Your House To Local Professional Home Buyer– FREE Guide:
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Get the FREE Guide and then give us a call at (208) 298-5422 and we’ll discuss what your home is worth and what we can offer to buy it for with our Cash Offer Program.