Q. If I sell my home to your company, how is your process different than listing my property with a Realtor?
A. When you list your property with a Realtor you have no way of knowing when a qualified buyer will come along. It is not uncommon for a property to be on the market for several months, or in all too many cases, it may never sell at all.
If a seller is fortunate enough to receive an offer and come to terms with a buyer, that buyer typically follows up with an inspection. Once the buyer receives the results of that inspection, a request list of items that need to be repaired, replaced, or that require professional attention is sent back to the seller. The seller has the option of whether to take care of these requests or not. If the seller decides not to take care of the requested items, and a mutual agreement cannot be reached, the buyer has the option of canceling the contract at that point of the sales process. Many times the buyer will cancel the agreement and just look for another home to buy.
Once there has been an inspection on your property and you have been notified of the defective issues, you must disclose these known defects to the next potential buyer, and indicate if the necessary repairs have been completed or not. The disclosure is an important part of the listing and must be updated as the seller has new knowledge about the home's condition. When the next buyer comes along they will review the updated disclosures before making an offer. They may pass the property by if it has more work to be done than they want to take responsibility for.
Most buyers are not willing to purchase a home with known problems or items that need to be repaired or replaced. Also, in today's current market there is an abundance of sellers that are willing to make necessary repairs to get their home sold. Buyers incur other costs when buying a home such as down payment, closing costs, etc. and sometimes they just don't have the extra funds to make repairs. Many buyers are willing to continue looking for a home that has few or no repairs that need to be addressed.
Property Brokers of Southwest Missouri will buy your property “as is”. We don't ask you to make any repairs, replace items that are not working properly, or do any updating. Once we come to agreeable terms, we proceed to close quickly with you.
Q. Why don't you charge commission like a “normal” Realtor?
A. Typically a commission is charged as compensation to the Realtor. That’s how they get paid for the service they provide to get your home sold and the transaction closed. In our case, since we are the buyer, we feel no need to do that. We want to give you the fairest offer possible, and make it a very good situation for both parties.
Q. What will I have to do as the seller, to make all this happen?
A. Your part is very simple. If you would like us to consider your home for purchase, you need to get in contact with us by phone or email. During that initial contact we will have a few questions for you concerning your property.
If we determine that our service may be a good match for you, we will set up a time to view the property. A quick 15 to 30 minute walk through by us is the next step. After viewing your property, we will do the proper research to determine the amount that can be offered to you. If we come to an agreement on price, terms, closing date, etc., all you have to do is remove all personal items from the home that you wish to keep. Our “take what you want, and leave the rest” policy makes it easy for homeowners that don’t have a way to dispose of unwanted personal items or trash.
We take care of all the details from start to finish, and work with the title company to prepare everything for closing. We will keep you informed as to the progress and let you know if additional paperwork or assistance from you is needed during the processing time.
When the closing date arrives, you simply come to the closing company (you normally don't need to bring anything other than a picture ID, keys and garage door openers) and sign the necessary documents to close. Closing usually takes 30 minutes or less, and in most cases you will be given your proceeds check before you leave the closing table. Once you close on the property, the transaction is complete. You can enjoy the fact that your property is sold, and you no longer have the maintenance, expense, taxes, insurance, and worry that goes along with it.
Q. Why do you do it this way?
A. We acquire properties on an ongoing basis and have found that there are many times where this method is a win/win situation for both sides. You, as the seller have found a great solution to getting your home sold, and we have been able to buy a good property. We don't mind to put in the work and spend the money to do repairs if needed, and we have the people to do that. Many times we make major improvements to the home through remodeling, and the neighborhood is improved because of it. Sometimes we keep the property, and sometimes we resell it. If we resell it, the new family has a very nice remodeled home to enjoy and again, everybody is the winner. We feel very blessed to serve our community in this way.