Questions about selling your house for cash
Will you be the buyer, or will the contract go to someone else?
There are two ways this works in Texas: a company either takes title itself, or it assigns the purchase contract to another buyer. You are entitled to know which one applies to your house in writing before you sign, without having to ask for it. Texas Property Code section 5.0205 requires that disclosure be made to the owner, and we will put it in front of you with the agreement.
How do you work out the figure?
From what the house would be worth repaired, minus what the repairs cost, minus what it costs to carry and resell it. We show you those numbers rather than announcing a total.
Can the figure change between agreeing it and closing?
No. If we agree a figure, that is the figure we close at. We do not agree a price and then reduce it before closing. The number comes out of arithmetic we show you rather than out of a negotiation, so there is nothing in it that can quietly move once you have said yes.
What happens to my house once we have agreed something?
It goes to a title company and it closes on the date you chose. We do not hold your house under contract while we make up our minds. If we are not certain we want the house, you will hear that at the start, rather than finding out weeks later with the property off the market.
Is there a deadline on the offer?
No countdown, no offer that expires tonight, and no repeat calling. We do not put a deadline on a number to hurry you. Take the time you need to think it over, talk to whoever you need to talk to, or get a second opinion from an agent.
Is selling for cash always better than listing with an agent?
No, and it would be an odd thing for us to claim. A cash offer is below what a repaired house would list for. What you are not paying for is the repairs, the months of carrying costs, the showings, the commission, and the risk of a buyer's financing collapsing two weeks before closing. If none of those matter in your situation, a traditional listing will very likely put more money in your pocket, and we will say so. Plenty of people reach us the other way round, after a listing that came to nothing, and by then they are weighing a different question.
What condition is too bad to bother sending?
Send it anyway and let us tell you. Fire damage, foundation movement, hoarding, an unfinished remodel and a roof at the end of its life are all things we look at rather than things that rule a house out at the door.
Do you work outside Tarrant and Dallas County?
Not at the moment. We work in those two counties so that we can drive to every house we make an offer on.
There are tenants in the house. Does that stop it?
No. Tell us what the lease situation is and whether they are paying, and it gets factored in like anything else about the property.
What if it is an inherited house and probate is not finished?
That is common and it does not stop a conversation. The timing depends on how far probate has reached, and the title company will say what is needed.
I am behind on payments. Is it too late?
Usually not, but it depends how far along it is, so the sooner you ask the more options there are. We are not going to use that as leverage on the price.
Do I have to be there for the walkthrough?
No. We can arrange access with whoever has a key, and we will send you what we found.
If you still have a question, don’t hesitate to contact us. We’ll be happy to answer it for you.
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