Frequently Asked Questions
At Austin House Buyer, we understand you probably have a lot of questions about how we do business. Here’s a quick collection of some of the questions people ask us, along with our responses. If you still have a question, don’t hesitate to contact us (or give us a call), and we’ll be happy to answer it for you.
Q: Are You The Buyer? Is It Really Cash?
A: Yes! Be aware that the vast majority of cash home buyers in the Austin marketplace are actually what’s known as “wholesalers”. These folks are in the business of flipping the contract to purchase your house over to investors. That means they may or may not be successful in their effort. When you sell to Austin House Buyer, we are the final, actual cash buyers of your home. There is no intermediary or lender. Nothing can get in the way of the transaction.
Q: How Do You Determine Price?
A: Unlike some homebuyers, that use a “Black Box” strategy of coming up with lowball offers, we have a very specific process to determine our offer prices.
First, we’ll calculate what we think we can sell your property for after we’ve brought the property current with repairs and cosmetic improvements.
Next, we’ll subtract the actual renovation costs and the typical holding costs that we can expect to bear during the renovation (insurance, utilities, materials, labor, etc).
Then, we add what we believe to be a fair and reasonable profit margin as compensation for taking on the renovation.
When these numbers are tabulated, a purchase price is established, and that is what we will offer you. We won’t give you rigid time restrictions to accept our offer, and we won’t pressure you. If our number makes sense, great, and if it doesn’t, that’s okay too.
We know full well that homeowners know the value of their real estate, and we also know that they will reject unfair offers. That’s why we don’t start low and hope you’ll talk us up. Most homeowners tell us that our offers are at the top of (or very close to) the highest price they’ve been offered by other cash home buyers.
Q: How Does The Process Work?
A: It starts with a phone call, email, or by filling out our form. We monitor incoming messages seven days a week and will get back to you promptly, usually within a few hours. After we’ve gathered basic information about your property address (e.g. interior and exterior conditions, whether there are tenants or not), we’ll provide a ballpark cash offer estimate to you.
If that estimate is satisfactory to you, we’ll schedule a walkthrough of the property with you, your tenants, or your representative. This can usually be done the same or next day.
After confirming the condition, we’ll provide you a written cash offer. If the offer is acceptable to you, we’ll execute and close within as soon as 2 business days (though 3-5 business days are preferred by the title company). We can also close after longer periods if that is your preference.
Q: What Do I Need To Do?
A: Unlike listing your home the traditional route with a Realtor, you need to do practically nothing when you sell to us. We’re expecting to purchase the property completely ‘as is, where is, with all faults’, and that means warts and all.
Often, all we request is that you turn the keys over to us and provide any written leases for tenants currently in possession of the premises. If you can provide us a property survey, that is helpful (but not necessary). Also, the title company may require some details from you regarding a mortgage payoff or probate paperwork.
Q: What Will You Do With My Property?
A: Usually, we will first resolve any physical problems with the property, such as fix the foundation, replace the roof, address tenant issues, etc. We will then often embark on a cosmetic interior and exterior transformation of the property to bring it in line with the highest end properties in the neighborhood. We will then usually sell the property to an owner occupant buyer, but we will sometimes hold the property for investment for a period of time.
Q: Why Should I Contact Austin House Buyer To Sell My House?
A: We know there are many cash home buyers out there, and we know you’ve probably received multiple solicitations. We suggest and expect that people who contact us are also contacting other cash home buyers.
At the end of the day, you’ll want to choose the cash home buyer who not only offers you the highest price but who also has the credibility and reputation to follow through on their commitment. Since 2004, I’ve purchased over 200 homes and an additional 100 duplexes and fourplexes.
Most homeowners have sent us heartfelt thanks for our professionalism and honoring our commitments. We hope you’ll give us that opportunity as well.
Q: Why Shouldn’t I List With A Real Estate Broker Or Agent?
A: Most homeowners absolutely should list with a real estate agent or broker! Exposing your property to the highest number of buyers via the MLS will increase the likelihood of receiving the highest offer. Even with Realtor commissions factored in, many owners will still do better listing the traditional method with a Realtor.
However, there are several situations in which selling directly to a cash homebuyer may be preferable:
1) When time is of the essence, but the traditional transaction closing period is too long
2) When the property has significant physical defects likely to turn off most traditional buyers
3) When the property is inhabited by challenging tenants who would make showing the home difficult, or who would be a turnoff to most homebuyers.
DOWNLOAD OUR FREE GUIDE that walks you through the Pros and Cons (plus the costs and timeline) of selling your house to a real estate investor. Plus, learn the pros, cons, and costs of the other two alternatives: listing with an agent or selling it yourself.
Q: Is There Any Obligation When I Submit My Info?
A: There is none whatsoever. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out more, and make you an all-cash offer that’s fair for both you and us. From there, it’s 100% your decision on whether or not you’d like to sell your house to us. We will not hassle or harass you because, again, it’s 100% your decision, and we’ll let you decide what’s right for you.
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You can always feel free to contact us anytime if you have questions, would like a no-hassle Situation Evaluation, or would just like to learn more about how we help homeowners sell unwanted properties for cash.
Get the FREE Guide, and then give us a call at 512-473-3733. We’ll discuss what your home is worth and what we can offer to buy it for with our Cash Offer Program.