FAQ
What is selling on terms?
Selling on terms is when you (the seller) agree to help create the financing that the buyer will use to buy the house.
This can be done by:
A) allowing the buyer to take over your mortgage and make the payments,
B) you (the seller) becoming the bank and collecting payments,
C) a combination of the two.
Why should I sell my house on terms?
The main benefits to you (the seller) are:
A) You get a fast sell (your house won’t sit on the market for months and months)
B) It cost you no direct selling cost (no Realtor commissions, etc.)
C) You can often create a monthly cash flow! (good for seniors or people on fixed income)
D) You can turn an empty house with a mortgage into a paying hands free cash flow
E) This is a great program for people who don’t need all their cash upfront from closing but still want a fair price
What protects me in case the buyer defaults?
If we are your buyer we do everything in our power to protect you. We have attorneys draft all documents and we put several safeguards in place to ensure you get the results you expect from selling.
How do I know I will be paid?
We have a third party company that collects and disburses all payments including taxes and insurance. If you are to receive a payment it will be deposited monthly into your account directly. If we are taking over your payment to a bank you can be sure it will be made every month by our third party licensed company.
What happens with the mortgage that’s already on my house?
If we take over your mortgage than we will make the payments every month on your behalf until we resell the house. This is usually for owners who have no or very little equity. But every situation is unique. To address your specific situation, fill out an application by clicking on the green button to the right for your consultation.
Can I lose my money or my house?
In our program you wont lose your house and you wont lose money. In a worse case scenario you would get your house back in the same or better condition if our company was unable to find a buyer. This has never happened but again we wanted to give you a worse case scenario.
I don’t want to do all of that can you just buy my house cash?
Yes, we can make you a cash offer, but cash offers are offered at a significant discount from market value.
Do I have to have knowledge in real estate to do this?
No knowledge is necessary. We will handle all details and explain every step. All you need to do is agree on terms and start collecting your monthly check.
Do I need a lawyer?
We don’t tell you to not get a lawyer. That is entirely your decision. But we can say that a lawyer is not necessary to complete a transaction with us. We have purchased property with and without (sellers) lawyers present.
How do I know I can trust your company?
We are a real estate investment company we have been in business for over 13 years. Look at what others have had to say about us and our program here.
What if you can’t pay off my house later?
Again, this is a worse case scenario but you would get your house back and have collected payments on it for years. You then could sell it to someone else if you desired and still realize your profit.
Will I be a landlord?
NO! We are not landlords and we would not make our sellers landlords. You are simply selling your house on terms in a hands free transaction. You wont get tenant calls about leaky faucets and you will not be responsible for any repairs on the property. You wont have anything to do with the property other than collect payments. You will be the bank!
If you have additional questions please type it in our questions box below and we will respond shortly
Thank You
We Buy Houses Home Services
