PO Box 125, Kittanning PA 16201
Telephone: 724-545-7534
Fax: 412-774-1551
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We have several different ways to help out sellers
in a variety of situations.
Click on each item to find out a little bit more. Then let us know
which will work for you.
The
Option
The
Lease/Option
Subject
to
WHAT
IS AN "OPTION"?
According to the dictionary, an option is the right, acquired for a
consideration, to buy, sell or lease something at a fixed price within a
specified time.
HOW CAN IT HELP ME SELL MY HOUSE?
As real estate investors, we can option your house, at a fixed price for a
specified period of time. During this time we will aggressively market
your house using our time, money and expertise. We will list your house on
our website and advertise in local papers. Remember, we are investors, not
real estate agents. Unlike real estate agents, we work with a limited
number of homes. We can aggressively find buyers for YOUR home instead of
searching through scores of houses for a buyer. In fact, we have an
extensive list of buyers looking for homes. Your buyer may be in on file
right now waiting for a house! Also, unlike listing with a real estate
agent, there is no listing agreement and no 6-7% selling commission. You
get the price for the house that we agree upon. During the option period,
we will eat, breath and sleep you house. We make our money when the house
sells so we will do everything we can to market and sell your house. We
also have an extensive background in financing and a number of mortgage
brokers with which we work.
BENEFITS TO SELLERS
 | You have someone aggressively selling YOUR house specifically |
| There is no expense to you |
| You have no risk and there is nothing to lose |
FREQUENTLY ASKED QUESTIONS
Why should I let you tie up my house?
You shouldn't and we're not asking you to take the house off the market. All we need is a key (if the house is vacant) and the right for us to buy it at a specified price. If you sell before we do, we'll tear up the agreement and you owe us nothing.
Why don't I just list with a Real Estate Agent?
This is your option. But we will make you an offer you can't pass up. Give us a specified time to produce a contract from a buyer. If we haven't done so during that time frame you can go ahead and list. You can exclude us from the listing. That way, if we sell the house before your Real Estate Agent, you won't owe them a commission. If they sell before we do, we can tear up the agreement and you owe us nothing. You can have the best of both worlds!
How do I know you will sell my house?
You don't and neither do we. However, we are willing to spend our time and money giving it our best efforts with the understanding that we don't make a dime unless you do. There is just no way you can lose. We are the only ones with the risk. If we sell, you get paid in cash. If we don't, we're out our time and costs. You've got nothing to lose!
How long do you need to option my house?
How long do you want us to keep trying to sell your house? Remember, we're not taking it off the market and you risk nothing in the interim.
WHAT
IS A "LEASE/OPTION"?
According to the dictionary, an option is the right, acquired for a
consideration, to buy, sell or lease something at a fixed price within a
specified time. A lease/option is simply a lease with the option to buy.
HOW CAN IT HELP ME SELL MY HOUSE?
As real estate investors, we can lease/option your house, for a specified
period of time (normally 2 years minimum). We actively look for a
tenant/buyer for your house. We thoroughly screen applicants via credit
and background checks. We only select tenant/buyers who intend to buy the
house, not those who just want to rent. We review their credit with them
and make recommendations on what steps they need to take to qualify for
bank financing. This program benefits them by giving them time to pay the
down-payment in installments, time to clean up credit issues or more time
in their current line of work. As we mentioned, we only select
tenant/buyers, not tenants. Remember, we are investors, not real estate
agents. Unlike real estate agents, we work with a limited number of homes
and can give more personalized treatment to your home and your needs.
Also, unlike listing with a real estate agent, there is no listing
agreement and no 6-7% selling commission. You get the price for the house
that we agree upon The lease/option program is often a good solution if
you owe close to what your house is worth or if you're house has been
listed, but the listing has expired. It also works well if you are facing
a job transfer, a job loss or if you are purchasing a new house and
haven't been able to sell the home you're living in. Lease/options provide
the often need debt relief required to qualify for a new home.
BENEFITS TO SELLERS
| Debt relief - we cover your payment, taxes and insurance |
| No management |
| No repairs or maintenance headaches |
| You retain ownership of the property |
| You retain tax benefits until it is sold |
| Helps save credit ratings |
| Helps you qualify for new financing |
What if a tenant/buyer tears up my house?
There is no way we can guarantee that a tenant/buyer won't damage your house since we won't be living with them. We can tell you we do extensive credit and background checks on all applicants. In addition, we can promise if damage were to happen, we would repair it at our expense. Our objective is to find a stable tenant/buyer who will eventually qualify for a loan. That kind of tenant is rarely a problem.
How do I know I can trust you?
We can understand your concern. We're looking to create a solution that will work for both of us. We are willing to devote our time and resources to your house, but only if you feel comfortable with the arrangement. If you don't feel comfortable, we won't do it. If you agree to what we are suggesting, your payment will be paid, your house will be maintained and hopefully sold for cash. We're only lease/optioning your house, not buying with owner financing. You can simply evict. Remember, we don't get paid unless we produce. We would be happy to give you a list of names and numbers for previous owners we have worked with in this fashion.
How do I know you'll make my payments?
We can handle this two ways. We can pay you directly and you can forward the payment to the bank. Or we can pay the mortgage company direct. This is how we normally handle the payments. You can call the lender at any time and verify that the payments have been made.
Why do you want a minimum of a 2 year lease/option term?
Sometimes it takes a tenant/buyer awhile to qualify for several reasons, some of which are mentioned above. Remember, in the interim, your payment, taxes, insurance and repairs are our responsibility.
When will the house sell?
We can't give an exact time. It will be up to the tenant/buyer to make that decision within the time frame they have been given. We can tell you this... we get paid when they buy. So we'll be pushing them to do so.
Why don't I just list with a real estate agent?
This is certainly your option. But remember, a real estate agent will not make your payments for you while they sell your house. We're willing to make your payment, sell your house and maintain it while we're involved. You can virtually forget the house until a closing agent sends you a check and a package to sign for the sale.
WHAT
IS "SUBJECT TO"?
HOW YOU CAN SELL YOUR HOME WITHIN 10 DAYS
Trying to sell your home can be a nightmare! But after reading this, you
may very well have a qualified buyer within 10 days. Just who is that
buyer? LOOKINSIDE. While we can't promise to buy your home, we can tell
you we're constantly looking for and buying nice homes like yours from
other folks in your area.
The Game Plan
Mainly what we can do is take your home over "SUBJECT TO" the
existing mortgage. Which means we will be responsible for your payments
and maintenance. We will put a tenant/buyer in the home and help them get
financed. At that time, they will be getting the home re-financed in their
name.
Unlike working as a Real Estate Agent, we are investors. We agree to make
your mortgage payments while we find a buyer for the home. So if it sits
empty, many times we can make the payments during that period. Also unlike
a Real Estate Agent, there is no listing agreement and no 6-7% selling
commission. Additionally, closing costs which are the responsibility of
the seller typically run around 3%. Just add these last two items together
and on a $100,000 home, that cost represents $10,000.
Now add in the typical 3-6 month period that it will take to find the
buyer and have them get qualified and finally close on the home and you've
just made monthly payments on Principal, Interest, Taxes, Insurance,
Utilities, Maintenance and Repairs. Remember that if you get a buyer
today, it typically takes 45-60 days for them to get financing. Guess who
would pay for your home during that period? You would!! That's 2 more
payments you would have to make and that's if you had a buyer today. What
if it takes 6 months?
One of the main problem solvers we can offer is Peace of Mind. Sometimes
the hardest aspect of having to move is actually having your home up for
sale and your life in limbo. You've heard the saying "Sometimes the
not-knowing is the hardest part!" When you approve the paperwork with
us, you will know that your payments and home are taken care of so you can
start over and have that peace of mind.
We can take care of all the paperwork in about a 10 days. We simply order
the title research and draw up the papers. We can set a date when you can
move out and we will take over the home after that.
We will make payments on your loan while our tenant/buyer builds equity
and finds their own financing.
BENEFITS TO SELLERS
For you, the Seller, we thought that we should summarize the benefits of
this program. Maybe not all these points apply to you, but most should:
| Rapid, flexible sale of your home - You select the date that you want to move out. We can complete our transaction in about 7 days! |
| Certainty of Sale - Avoid the disappointment of "selling" your home, waiting 45 days for the buyer to qualify and then finding out the deal fell through for any number of reasons. Then the process starts all over again, but the pressure is really on you now. |
| Avoid Sales Commissions - No need to pay a Real Estate Agency the typical 6-7% fee. |
| You Get Quick Relief from Mortgage Payments - Compare that with a Home Listing that can go on forever!! |
| Avoid Typical Closing Costs - Avoid the necessity of paying for Surveys, Title Insurance, Deed Preparation, Courier Fees, Recording Fees, etc. |
| Eliminate a Listing Agreement - We provide a Sales and Purchase Agreement; remember we are BUYING your home. |
| Eliminate Time Consuming House Showings - You won't have to show your home anymore. On the average, we show your home only a few times, nearly always after you've moved out. We find qualified, motivated tenant/buyers. |
We take care of your monthly payments, take on all responsibility for the maintenance and upkeep of your property and liquidate your asset, before it becomes a liability! Now seriously, does it get better that that? As we stated before, our program can work in any situation.
For questions, comments, and general feedback
Contact us...