WHAT TO LOOK FOR WHEN SELLING TO AN INVESTOR
A lot of times out of state "buyers" will make a high offer sight unseen, but once under contract, they will send potential buyers (they are trying to sell the house to) to look at the house, then once they realize they can't perform at the original price, they will come back to you and renegotiate at a much lower price.
We are local investors, we will come to the property to meet you in person, assess the property condition, and make you an educated, fair offer from the beginning. We don't want to play games with you or waste your time. We want to be honest from the start to make this and easy and smooth transaction.
The document signed once both parties come to an agreement on price and terms
They will use a 1-to-3-page contract that was created for them, and only protects their interest, not yours.
We use a Texas Real Estate Commission (TREC) promulgated contract. This contract was created for all real estate transactions in the state of Texas and is meant to protect the interests of both the buyer and the seller in the transaction.
Earnest money is meant to protect you, the seller. If the buyer decides to back out of the deal, you will keep this amount. Rule of thumb is 1 % of the purchase price. Example: $100,000 property, $1000 would be the earnest money.
They will put down $10 to $200
We put down 1 % to make the seller feel comfortable that we won't be backing out of the sale.
Also called "Inspection Period" is a period of time where the buyer can bring in people to inspect the property and make sure their numbers are accurate. If for some reason they find something unexpected, they can back out of the contract or renegotiate with you. Typically, a reasonable option period is between 5-1 0 days and the cost to the buyer would be $10 per day. Example: if 10 days, they would pay $100 to you,
non-refundable, to have this option period.
10-30 Days, $10-100
We make fair offers with no option period. Meaning we can't back out for any reason. We feel comfortable with the offers we make, and we know our numbers well.
This is the date the sale will occur. Typically, a closing date will be 14-30 days out.
We are ready to close when title is ready. Typically, 7-14 days.