Frequently Asked Questions
Maybe you have a few questions. That’s okay; most people do. So here’s a quick collection of some of the 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: Great question. We’re not agents, and we don’t list houses. We are professional home buyers: We buy houses New Orleans that meet our purchasing criteria. From there we may repair the house and resell it to another homeowner or keep it as a rental ourselves.
Q: Will you pay retail value for my property?
A: First, the amount a real estate agent tells you is the value of your property may not be what you will put in your pocket. Commissions to the agent can even as much as 7 percent. Your closing costs can be as much as 3 percent.
Second, you might be required to do a number of repairs to satisfy the buyer if you list it with an agent. These repairs could cost thousands of dollars
Third, you may be making loan payments which may amount to thousands of dollars as you wait for it to sell. Not forgeting the cost of your money tied up in the property, which could be making you money, somewhere else.
Bottom Line: The amount your real estate agent tells you your house is worth could be thousands of dollars less than you put in your pocket by the time your agent sells it, figures in your holding costs, repair costs, commissions, selling costs etc. etc.
We will make you a fair offer once we assess your situation and see your property. Our commitment is to make this a fast, stress-free and happy experience.
Q: I am facing foreclosure. How can you help me?
A: As professional real estate investors, we know how to contact your lender or mortgage company and discuss alternatives to having your house go into foreclosure (and ruin your credit for years).
Q: What if I lose my house in foreclosure?
A: This record will stay on your credit report for at least 7 years, ruining your chances of getting credit when you need it. Creditors believe if you could not pay for your house, why would you pay them?
Q: Are there any fees or commissions to work with you?
A: This is what makes us stand out from the traditional method of selling your house: There are NO fees or commissions when you sell your house to us. We deal with each situation on a case-by-case basis. 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 (if any) 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 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 6-12 months) and then take a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3-6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $3,000 – $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. We don’t list 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.