There are many reasons real estate investors choose to use a Buy company when making an investment property purchase. The advantages that you receive when selling a home that’s not in optimum condition to home flipping companies are:
* Savings on repairs
* Time saved from the listing process
* Money saved from hiring a real estate agent to perform all the tedious details
* Time and stress-free sale process
* Property is sold quickly and at top dollar.
We Buy Houses specializes in all real estate property types. Whether you’re looking to sell your own home or working with a broker representing multiple buyers, We Buy Houses NH can help you with every step of the process. We have real estate professionals who can find the perfect location for your property, manage your listings, contact potential buyers and perform all the tedious and time-consuming tasks associated with selling a home. Many of our professional real estate brokers also offer mortgage services to help you with your mortgage.
We Buy Houses helps you avoid all the hassles associated with selling REO properties by using a network of knowledgeable realtors and marketing experts who are familiar with all the top vacation and beach communities. They are also skilled at finding the best value homes for your investment. Realtors with We Buy Houses are also accustomed to handling complicated negotiations with multiple buyers and closing papers. For these reasons, most buyers go with a realtor with experience working with We Buy Houses.
When selling an REO property, there are some details and aspects of the transaction that are beyond the seller’s control. For example, many owners of these properties may have had to sell their home through a hard money lender during the past few months. In this case, the lender owns the house, meaning the bank owns the deed to the real estate property. This fact alone can make the process of selling the property frustrating for the seller.
Once you have decided to work with We Buy Houses, you will fill out an application, called a “First Trustee Application”. The purpose of this application is to indicate to the bank that you are willing to purchase the property using a mortgage. You will need to provide the lender with certain information about your personal credit history, current income, and current mortgage payments. Your home will be inspected by a certified real estate agent, typically your Realtor, to determine the property’s current value.
Upon completion of the First Trustee Application, the company will provide you with a quote on a price to purchase the property. You will then select a lender from We Buy Houses’ pre-qualified list of approved lenders. Your lender will then give you the option of applying for a mortgage through either an FHA-insured mortgage or a private lender. You can select either option to be covered by either a Federal Housing Agency or a private lender; your choice will be determined based upon your current credit situation and your financial needs at this time.
Once you receive a quote from either lender, the next step in the process is to select a home buyer to purchase your property. You will again complete a First Trustee Application and provide the same information as above. You will also select a lender from We Buy Houses’ pre-qualified list; again, your choice will be based upon your credit situation and your personal financial needs at this time. Once you’ve selected your home buyer, you will discuss the contract specifics with your home buyer. If you’ve decided to use a hard money loan to pay for the property purchase, We Buy Houses will require you to agree to the terms of your hard money loan, such as monthly payments, interest rate, and loan term. In addition to these formalities, your home buyer will also provide you with a 100% down payment guarantee on your first payment; although, in some cases, your first payment may be delayed up to four weeks while the company funds your mortgage.
After your hard money mortgage is funded, the property is listed for sale and you are ready to take possession of your new property! When you and your buyer have decided on a price and terms for selling your house, you and your buyer will each submit an Offer on Floor Plan to the We Buy Houses mortgage Lender. If your offer is accepted, then the process of selling your home begins. Your hard money mortgage is the security for the sale of your property; it also acts as a guarantee that your mortgage payment will be made on time every month. We Buy Houses does not deal with any third party, so there is no reason for you to worry about being ripped off when selling your property.
As soon as you accept an Offer on Floor Plan, your property is sold to the highest bidder on the day of the auction. If you wish to have your mortgage re-paid automatically, then your payments will be made automatically using your We Buy Houses cash offer. This provides you with complete peace of mind knowing that your mortgage payment is being paid for you, and you do not need to worry about missing a payment. When you sell your house with We Buy Houses, you will be provided with a standard home warranty, so you can rest assured knowing that all of your appliances and furnishings are covered.