If I were to look for help renting-selling my property online, the following would be a list of my obvious concerns when it came to who I decided to work with on the transaction.
Especially if the help I ended up getting was from someone out of state, and whom I may never meet or see. Maybe You Can Relate to
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1) Scams: The Internet is full of them. How do I know you're not one of them? |
Answer: Indeed there are tons of scams on the Net. I recommend you always consult a real estate attorney first, and never send wire money to anyone.
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2) What's the catch?: How do you get paid? |
Answer: No catch. We get paid by the "end" tenant-buyer to whom we assign the Option rights based on your pricing and terms.
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3) Does Title stay in my name? What about the mortgage? |
Answer: Yes, both Title and the mortgage stay in your name as this is a rental with the "option" to buy - not a sale.
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4) Do you have tenant-buyers for my specific house right now? |
Answer: Hard to say until we see your home, and determine if it is priced correctly. If yes, then yes, getting a tenant-buyer is easy for us.
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5) What if they destroy my house? What then? |
Answer: While anything is possible, consider that a tenant-buyer is putting down non-refundable cash upfront that far exceeds what a straight-renter puts down (who has no intention of buying). Which is more risky?
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6) Do your buyers pay us directly? |
Answer: Yes, they will pay you your portion (the "Option Fee") directly and our "Option Assignment fee" will come directly to us.
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7) Are you licensed in my state? |
Answer: No, we do not represent anyone but ourselves, We act solely as Private investors.
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8) How fast can you find someone for our home? |
Answer: Usually 7-14 days when the rental price is priced correctly. Longer if it is not.
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9) Can my real estate attorney review your contracts once drafted? |
Answer: Yes, of course. We encourage that both your real estate attorney and accountant advise you as we do not provide legal nor accounting advice.
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10) How do you qualify them? What's the process? |
Answer: In a nutshell, we check everything but their credit scores, since if they had perfect credit, they could qualify for a regular bank loan and wouldn't need you or I. They MUST remove any doubt, however, of any concerns of their current financial strength, so you feel 100% comfortable. We send all documentation to you for your review before assigning the contracts, of course.
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11) I'm listed with a Realtor. Can you still help me? |
Answer: Yes, since we are not Realtors in your state, and we are technically buyers of the "Option" contracts, assigning the contracts to an "end" tenant-buyer for a profit, there is no conflict of interest with your Realtor at all.
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If these are concerns that you've had in your mind as you search the Net for help, solutions, and ways to sell your home without paying commissions or fees, you're not alone.
And frankly, I don't blame you. I would think the same things. Hopefully these answers have shed some light on who we are, what we can do for you, and have helped you better determine if working with Diana and I would be a good fit for your specific needs and wants.
My Wife Diana and I Believe In Full Transparency
and Full Disclosure (We avoid a lot of drama this way)
We too have fears and concerns, at times, as we've been "burned" by folks that we've worked with in the past, so trust me when I say, we understand. After all, though we sign contracts, for some reason there have been sellers that have tried to circumvent us and steal buyers we've sent them.
So cocnerns can really goes both ways, right?
There's an old saying that I love that goes something like this: "That which we compromise to gain, we ultimately lose."
So What's the Point?
If you have the questions I mentioned above, or others (since this is not an exhaustive list), please reply to this email now.
I will personally answer you questions, and there is no obligation to work with us. Our goal is to help you, the "end" tenant-buyer, and ourselves, win. We don't want you to spend thousands of dollars of needless commissions or fees, or ultimately have to lower your price over and over again, because your house is sitting on the market collecting dust.
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Author
My name is...
Russell de la Peña, and I am a former Realtor with both Keller Williams Realty and Re/Max City Horizons out of Denver, CO. I'm originally from Los Angeles, CA, where I currently reside today, and I have authored a few books related to real estate investing and credit repair. I own a creative seller financing training school online and work with, and serve, new and seasoned real estate investors alike for a living.
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