How Do I Get Cash For My House?
Maybe you have a few 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. Is this legal? Don’t I need a Realtor to sell a house in Canada?
A: This is a common misconception. While it is conventional to sell with a Realtor in Canada, homeowners are free to sell their property in any method they wish. However, it is important to note that regardless of whether you choose to sell your house privately or through the use of a Real Estate Agent that the transaction (sometimes called a “closing”) must be done through a reputable real estate lawyer.
Q: Will you be listing my house on the MLS or actually buying it?
A: Great question. We are NOT realtors or real estate agents, and we are not associated with any real estate brokerage houses. Quite simply: we don’t list houses and hope for a buyer. We are professional home buyers: We buy houses in Calgary that meet our purchasing criteria. We will present you with a fair, no obligation offer and if you accept we will put everything we have mutually agreed to in writing and sent it to a local real estate lawyer with a deposit in-trust so that you know the deal will move forward as we have agreed.
Q: How quick can I get out?
This is one of the best parts of dealing with a professional house buyer: you can get out whenever you want! We can close the deal in 5 days (and sometimes sooner) so whatever date you choose we will write that into the deal, send it off to the lawyers and they will move the paperwork through the system as needed.
Q. I am being foreclosed on. Can you help me?
A. Absolutely. Selling your home to a cash buyer is one of the best ways to avoid being foreclosed on because cash is what the bank or lender is ultimately looking for. In many cases when you sell your house it stops foreclosure and may help save your credit. Download our “How To Stop Foreclosure” free report for more information.
Q: Do you pay fair prices for properties?
A: Short answer: it depends… There have been many instances where we have been able to buy a property that has little to no equity compared to the “retail” or “market value” listings in the area because it met our buying criteria. And there have been many other houses that we purchased below market value since we are taking a lot of risk in buying the property as-is. 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 can 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 Realtor fees. In fact, many of our clients have told us that the deal we offered was well worth it to avoid the costs of holding the property for as long as it takes to sell, the cost of Realtor commissions, the monthly holding costs while waiting for a buyer to appear, and doing necessary cleaning and repairs prior to listing…and without the emotional roller coaster they would go through over months and months of showings. 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. Head on over here download your free guide →]
Q: How do you determine the price to offer on my house?
A: Great question, and we’re an open book: Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and values of comparable houses sold in the area recently. As you know, Calgary and area house values have taken a bit of a beating in the last 5 years and most areas still haven’t seen prices come back up. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.
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 with us. We’ll make you an offer, and if it’s a fit then we’ll buy your house (and we’ll even pay for the closing costs too!). No hassle. No fees.
Q: What if it is an Estate home (inherited property)?
A: We have helped many people who have had a loved one pass away. This is a difficult time and we are very sensitive to the stresses associated and to the needs of the family. With that said, by law the property cannot be sold until it has gone through probate approval by the courts..but that doesn’t mean we can’t help to take that stress off of you right away. Most people hear probate and get worried, don’t worry! Probate is a standard process that happens every day, however it typically takes 6-8 weeks to work its way through the courts, and if the will is complicated can sometimes take longer. Regardless of where you are in the process we can begin to talk about a deal at any time and help you along the process if needed.
Q: I’m getting divorced and my soon-to-be-ex-partner is on the title and/or the mortgage. How does that work?
A: We understand that in situations like this everyone is looking for a fresh start as soon as possible. We will require both parties to agree to a deal, and we can work with each partner individually to make that happen if needed. Typically each partner would have their own lawyers review the deal before signing off, but we can certainly buy your house as long as everyone is in agreement.
Q: How are you different from a real estate agent (Realtor)?
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. The typical agent’s commission is 7% of the first $100,000 plus 3% of the remaining sale price, which is split between the buyers and the sellers Realtors. So if it’s a $400,000 house, you’ll pay $16,000 plus GST in commissions. Realtors provide a great service for those that can afford to wait 6-12 months to sell, who are flexible to allow for showings whenever their Realtor calls, 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 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: We don’t want other people to know we are moving. Are you going to show up in a “We Buy Houses Calgary” decaled car and alert the neighbors?
A: You would be amazed at how common this is. We are 100% discreet, anything you tell us remains private and we will not show up in any vehicles or post any signs in your yard that would tip off any “nosy” neighbors that might be peeking though the blinds.
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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Get the FREE Guide and then give us a call at (403) 613-8119 and we’ll discuss what your home is worth and what we can offer to buy it for with our Cash Offer Program.