If you have any concerns please read this collection of frequently asked questions before contacting us. If you are still unclear about something feel free to contact us.
1. Is We Buy Stressful Homes a Real Estate Agency
No. We are a Real Estate Investment company. This makes us real estate investors, not agents. Even though some of our staff may be licensed agents, we will not represent you as an agent; unless you decline your cash offer and would like to be represented by an agent in order to sell your house on the market.
2. What is the difference between a Real Estate Agent and a Real Estate Investor?
Real Estate Agents/Brokers
People, licensed by the state of Massachusetts, who negotiate agreements to sell, exchange, buy, rent or lease in real property ‘for another person’ for a fee or commission.
Real Estate Investors
People who invest money in real estate by either:
Buying, fixing, and keeping rental properties for passive income.
Buying, fixing, and reselling single family homes for profit.
Acquiring equitable interest in a property and assigning that interest to another investor in exchange for an assignment fee.
3. Does the service provided by We Buy Stressful Homes cost anything?
No. There are no fees nor closing cost that you are responsible for, and we do not work off of any type of commissions. Our service is FREE! We actually pay you to buy your house.
4. What is the difference between a fair cash offer and a reasonable cash offer?
Fair Cash Offer – An offer that is fair to the home-buying company for the purposes of purchasing a property at the most discounted price.
Reasonable Cash Offer – An offer that represents the ‘true’ value of your home. It is considered reasonable, rather than fair, because the offer amount is based on research analysis, such as: consideration of location and condition of your property, total amount of repairs needed, existing liens held against the house, and the value of similar sold homes within one (1) to three (3) miles away from your property.
4b. My neighbor worked with a real estate agent and they recently sold their home for a much higher price compared to the “reasonable cash offer” you have given me. Why is that?
Most likely, your neighbor may have sold their house to first-time homebuyers. They are the type of buyers who tend to make higher offers, especially if your home is updated and renovated. If you are looking for the highest and best offer, we recommend that you sell your house, on the market, with the help of a real estate agent.
We provide a premium service which includes giving you a no-obligation cash offer, within 24 hours, after visiting the property. All of our offers range between 40% to 70% below market value. We make sure you do not pay any commissions, fees, nor closing cost. Unlike a regular homebuyer, you do not need to make any necessary repairs. Plus, we will buy your house “as-is”, regardless of condition of your property.
5. Am I obligated to accept your offer if I submit a request?
No. If our offer does not seem reasonable, we will explain to you how we came up with that amount. If you still feel as though the amount is not sufficient enough, for whatever reason, you are more than welcome to not accept the offer.
6. What happens after I sign a Purchase & Sales agreement stating I accept the offer?
Visit our How We Buy page to learn how it works after an agreement is signed.
7. What do investors plan to do after they purchase a property?
Real Estate investors take the risk of investing (buying) houses, in “as-is” condition, in order to receive payment through either:
Marketing the property as a way to sell it to another investor looking for a project
Fixing up the property themselves and resell within the housing market to first-time or seasoned homebuyers.
Fixing up the property in order to rent it out, even if there are current tenants
8. Do investors really pay me cash for my house?
Some homeowners believe that as investors, we must have a briefcase full of cash. However, that is not the case. Below are the three (3) ways in which we buy houses:
Secured funds – Any investment profit (cash) we gain from our business, we keep in secured bank accounts, which are specifically used for purchasing and/or fixing up properties.
Loans – If and when the majority of our secured funds are being used for renovation projects, we will have to apply & get approved for a construction/rehab/bridge/private loan to purchase your house.
Investing Partnerships – Through partnerships with local cash buyer investors, we will assign our equitable interest in your property to another investor in exchange for an assignment fee that the investor will pays us for.
Regardless of which option is used to buy your stressful home, at the end of closing, the funds (cash) will be wired directly into your bank account.
8b. Who holds the ‘cash’ during the closing process?
To make the selling and buying of a home less of a stressful and complicated process, we use local Massachusetts title companies and attorneys to close on all of our home-buying transactions. Visit our How We Buy page to learn more about the closing process and how it works.
9. What happens if I have liens that show up on my title?
If there are any liens (i.e. mechanic, tax default, mortgage, medicaid, etc), the title company will be responsible of disbursing the wired funds to the appropriate entity in which a lien is being held against. As the homeowner, you may have to sign a release of information to the title company to communicate with such entities to confirm how much is owed. Your final pay out will be the difference between the purchase price minus the amount owed towards the liens.
10. What happens on the day of closing?
Visit our How We Buy page to learn more about the closing process and how it works.