How We Buy Austin Houses
We’re local homes buyers and we buy Austin houses in as-is condition with cash.
Okay this is not a breakthrough. So do all the other Austin home buyers. Our difference is that we take great pride in taking care of our customers.
Our process is very simple and straight forward:
Customers will either submit their information to our website or call us.
Then we’ll contact them within an hour. Next, we’ll ask a few questions to find out more information about their property and situation and set an appointment to visit the property.
Upon visiting the property we’ll make an assessment of the value. Then we’ll make you a no-obligations cash offer.
If accepted we’ll sign a standard Texas Real Estate Commission contract and send it to the title company. We typically close in 2-3 weeks and can close much faster if necessary.
Then you’ll have the proceeds of the sale wired to your account. That’s it! We take care of the entire process and make it simple and stress free for all of our customers.
That was a simple overview but let’s dive in to the process more in depth below.
Our Process: In Depth
Once we receive your contact information via the website or the phone we’ll set an appointment to visit the house. The appointment is probably the most important part of the process because it allows us to better understand your situation and the goal you’re trying to accomplish by selling your house.
Being honest here is the most important thing. There are times when sellers are not straightforward with their situation and this often ends up decreasing the chances of completing the transaction drastically.
Although you might not want to reveal the details of your exact situation for personal reasons it’s best we know them so we can do our part to the best or our ability.
Think of it like visiting the doctor. If you withhold information from your doctor it will only compromise his ability to make the best recommendation. The same is true with us.
All your information is kept completing confidential.
We always make the recommendation to sellers that will provide the most value to them. We’re not going to use high pressure tactics to coax sellers into accepting offers. We believe this ALWAYS backfires.
Reputation is our most important asset so we’re not going to get into situations where the customer could feel uncomfortable. We’re here to serve. We’re not trying to buy every house so there are plenty of times when we recommend sellers to use a real estate agent.
Next, we’ll make a physical assessment of the house. This is where we make sure it is what we think it is. Prior to the appointment we’ll do some background research on the house to better understand the neighborhood and local market.
We’ll look up the available information on the property including deed holder and tax value. We’ll also check to see if it’s in foreclosure or if it’s listed with a realtor.
We’ll ask these questions prior to the appointment so it’s very important that everything we find in our due diligence process matches what was said over the phone. If not, we consider this a red flag and the chances of us buying the house are drastically reduced.
To determine the value, we’ll use neighborhood market data and an assessment of the existing condition. They will both play equal roles in determining what we offer.
Home values are determined using comparable sales. This is the value that homes have SOLD for in a specific area that are comparable. In real estate “comparable” has a very specific meaning.
The houses we identify as comparable will be built in the same year, have the same number of beds/baths, same # of stories, have the same size, same layout, same lot size and etc. A house with a pool is not comparable to a house without one.
Once we’ve better understood your needs and made an assessment of the house we’ll make an offer. If the verbal offer is acceptable then we’ll fill out a written TREC contract. Once the contract is signed we’ll send it to the title company.
The title company will perform a title search to confirm ownership. In most cases they will also order a survey of the property to confirm the boundaries. We take care of all these services and will keep you as the seller informed of all the actions we’re taking to complete the transaction.
If there is a mortgage on the house the title company with call the lender to get the official payoff amount. Meanwhile the title company will be working feverishly to generate all the paperwork to be signed during a transaction.
During this time, we’ll be in constant contact with them to help speed the process along.
We’ll also be preparing to fund the transaction.
Sometimes we fund the transactions with our own cash reserves and other times we borrow money from investors to close the deals. Due to our experience and relationships in the industry this is actually the easiest part of the process for us.
Raising money to fund deals is a standard practice across the real estate industry. The difference between us and other home buyers is that we’ve got a list of partners waiting to invest their money with us while most home buyers need to scramble to raise money and are often waiting till the last minute to fund the transaction.
And even fewer home buyers can actually fund the transaction themselves.
Once we’ve secured funding we’ll set the exact time and location of closing. Some customers want to come to the title company and sign all the documents in the conference room. Others want to sign everything within the comfort of their own home. We’ve done both and we’ve even done a remote closing in different states.
We’re experienced in remote closings and pay for all the expenses. We’ve even done closings where we never met the seller face to face!
After the closing the title company will wire you the money from the proceeds of the sale. At this point you’re done! Once the money is wired you’ll be able to access it at your bank.