Frequently Asked Questions
Here are some of the most frequently asked questions we hear from buyers:
1. How fast can you close?
We have the ability to close in 48 hours! With that said, sometimes the process takes longer but not because of us! Real estate transfers must go through a title/escrow company and these companies have a number of steps they must complete, including:
- Prepare deeds
- Prepare closing docs
- Prepare settlement statements
- Check on taxes delinquent taxes
- Check on HOA’s and HOA bills & transfer fees
- Prepare Title insurance for Buyers
- Ensure trusts, LLC’s Power of Attorney’s are legit
- Deed restrictions
- A LOT more
Often times this process takes 10-15 days assuming there are no hang ups, holidays, long weekends, etc. We aren’t a typical real estate company, so our average time is much faster than the 30-45 days it takes for a “typical” real estate transaction to complete.
If you’re in a situation where you need funds sooner than the closing process will allow we can help with that. Just let us know what your situation is and we’ll assist in figuring out the details.
2. If I decide to sell my home to Fair Property Buyers, how does the process work?
We know you’re in a stressful situation, and we work to make sure your experience as simple and easy as possible. We’ve created an in-depth look at how it works, but here’s the quick version:
- Provide us with the basic information on your property and your situation. You can call us or you can fill out the form on this page, or chat with our online representative.
- Once we have an understanding of your situation and details on the condition of the property we can typically make a cash offer immediately. The offer, if accepted, will be contingent upon verifying the details provided.
- When you accept our offer, we’ll set a closing date that meets your needs. In many cases, we can close in as little as 3 days. We can also arrange to purchase your house while still allowing you and your family to stay in it for a reasonable amount of time while you make alternate arrangements.
- We will close on the agreed upon date, and present you with your choice of a cashier’s check or a money wire.
3. How long will it take to sell my house or property?
Typically, you can have your house sold and have cash in hand in as little as 3 days – or we can accommodate any time frame you need. The answer will depend on your situation and any barriers to transferring title that might exist.
If you prefer, we can accommodate a longer sales cycle should your situation call for it. We can also make arrangements to allow you and your family to stay in the home after closing. Just let us know what you need and how we can help!
4. If you make an offer on my property – am I obligated to take it?
Of course not! You are under no legal obligation to work with us. Our fair cash offer is provided free of cost and in good faith in an effort to earn your business. Even if you don’t accept our offer you will benefit from the wealth of knowledge that our seasoned real estate investors will provide. Regardless of whether or not you choose to accept our offer, we hope your experience with us will empower you to make the best decision for your needs and your situation.
5. How do you come up with the price you are offering for my home or property?
First – every property is unique. Second – we are unique in the way we approach your property. We will look at a number of factors to determine the value of your property, including:
- the condition of the home
- square footage
- kind of home/building/structure
- curb appeal
- size of lot
- surrounding properties
- property usage
- cost of repairs
- available comps
- projected future appreciation
There are many factors, large and small, that go into determining the worth of your property. Our team of experts can assess your property from more angles than any realtor or other investment company. This allows us to always do our best to offer a fair price – and always in cash. Feel free to review our easy to follow guideline on how to determine what a house is worth.
6. I have to leave the state to work – can I sell my property even if I’m not there?
We make it easy to arrange for you to sign documents from any location so you can sell your house even if you are out of state. In fact, we have dealt with property owners who were out of the state through the entire process. The transaction is conducted via phone and online and we will have a notary meet with you at your convenience on the date of signing. Even if you are traveling internationally during the time of selling or closing, we will be able to meet your needs.
7. Do I need a Realtor if I sell you my property?
A Realtor is not required when you sell your property to us. That’s one of the many benefits of working with Fair Property Buyers – you will avoid Realtor commissions. However, we encourage and urge you to seek professional guidance. We have Realtors on staff as well as associate Realtors we work with if you are interested in speaking with one of them.
8. I Still Have Tenants in My Property – Can I Sell It While They’re Still There?
Absolutely! We have experience with all kinds of rental properties and tenants. If you are a landlord, we can make the entire process quick and easy, and we will handle the communication with your tenants.
Fees and Costs (Hint: There are none!)
1. Is there a fee to have you look at my home? Is there a fee if you buy my home?
There is absolutely never a fee to look at your home nor are there any fees when we purchase your home. There are no costs to the homeowner ever! Not only do we pay all closing costs but we also never ask you to make any repairs, clean-up or provide any home inspections. Just in case this isn’t 100% clear: there are never any fees incurred by the homeowner, ever.
2. I’ve heard there “hidden charges”, do you charge any fees?
Absolutely not! When we say there are no costs to the homeowner, we mean it. We do what we say we can do and deliver what we say we can deliver; there’s a reason we’re called “Fair Property Buyers” – because we are! There are many companies that will try to charge you a brokerage fee, commission or other miscellaneous charges for their services. We are not one of those companies – we cover all costs associated with the transaction of the sale of your house.
During the Sale
1. Will I have people coming through my home?
Agents or investors may have to come through your home but no one will enter without your consent. A lockbox is placed on your home and we closely monitor any access.
2. Do both my spouse and I have to be there to approve and sign the documents?
It is always best if you both come together, but our title company provides the highest level of service and if we need to make 2 signings work, we can.
3. Why am I paying for taxes?
Taxes are paid in arrears. Our title company will help explain this to you when it comes time on how taxes are paid.
After the Sale
1. How will I receive the money?
We can arrange for your choice of a cashier’s check or a money wire directly to your account. All transactions are recorded through a title and escrow company.
2. Can you help me find my next house once you buy this one?
Yes! This is referred to as a “synchronized transaction” and it is one of our specialties.
3. When can I turn off utilities?
You can turn off utilities the day of closing.
4. I’m leaving on vacation the day of closing – how do I get my money
Our title company will have you complete a document at closing where you can choose to receive your money by wire. Additional costs may apply.
5. My tenant already paid me rent for the month – How do I transfer the remainder to the new buyer and the deposit?
Our title company will handle that once the lease is provided to them. Everything will be shown on the settlement statement.
Properties We Buy
1. Will you buy multiple properties?
Yes! We buy land, houses, commercial property, apartments, condos, multi-family homes and (in some cases) even trailers. If you have multiple properties that you need to sell at once we’re more than capable of purchasing all of your properties at once.
Often, when dealing with the estate of a loved one, there may be numerous properties that need to be handled. It is important to understand the probate process in order to properly deal with these properties. This is something Fair Property Buyers has extensive experience with.
2. A real estate agent told me my property wasn’t marketable because it’s in such terrible shape. I can’t afford to fix it up. Is Fair Property Buyers interested in a home like mine?
Absolutely! These are exactly the kind of houses and properties we’re looking for, because those are the ones we specialize in. We buy vacant, vandalized, condemned, flood-damaged, and/or fire-damaged real estate every day! Don’t worry, for Fair Property Buyers, there is no such thing as a property that is “too bad of shape!”
Foreclosure or Short Sales
1. I’m facing foreclosure — will you buy my property?
Yes! In fact, we can often help you avoid foreclosure entirely. The sooner you contact us, the easier it is for us to help you with your situation. You can read more about our in-depth strategies for foreclosure avoidance.
2. I’m in foreclosure – is it possible to buy my property?
Yes, we have a number of options that will allow us to purchase your home and still avoid the mark of a foreclosure on your credit record. We have spent years negotiating with banks and are experts on foreclosure avoidance. Remember, it is absolutely possible to stop foreclosure. If you’re interested, here’s an article on stopping foreclosure.
3. I need to do a “Short Sale” – can you do that?
Yes, we can handle the vast majority of short sale situations. We are experts in “short sales” and we know how to negotiate directly with banks and lenders so that your home sells quickly.
Situations We Help With
1. What kind of people sell their properties to Fair Property Buyers?
We help people from all walks of life who are interested in selling a piece of real estate quickly and easily, and who want to work with a company that puts people above profits. The people who come to us are property owners who want and need to sell for many reasons:
- They may be frustrated with no results after working with a real estate agent, or wish to avoid commissions.
- They have become discouraged by the current real estate market in.
- They may have a home that is in very poor condition, or in a difficult neighborhood.
- They may have a home that needs more repair than they can afford.
- They may have inherited a home they don’t want, or have a home with title issues.
- They may need or want to sell quickly due to a job transfer, a divorce, or a bankruptcy.
- They may be struggling with late mortgage payments or even facing foreclosure.
- They may just not want to deal with the hassle of selling a property.
2. I’m going through a divorce, can I sell my property without my spouse knowing?
As with all legal matters we strongly urge you to seek legal guidance. With that said, in the vast majority of cases we can purchase a property as long as it isn’t jointly owned. This can also depend upon what stage of the divorce you are currently in. Make sure to seek legal advice to ensure you are not unintentionally doing anything illegal.
3. Do you purchase properties that have tenants in them?
Yes! We will honor the existing lease you have with your tenant and in many cases will want the tenant to stay even longer. Our properties are professionally managed and cared for so your tenant will be treated fairly and respectfully during the purchase process and throughout their stay.
4. I don’t know where the deed to my house is, will you still buy it?
Yes! Assuming there are no other issues such as liens, creditors, etc. We’re more than capable of purchasing your home if you have lost the deed. This is a relatively easy issue to work through in most cases, and often just requires a call to the County Recorder’s Office.
5. My former spouse is on title with me and now we are divorced, but I got the house in the divorce – Is this going to be a problem?
This is not a problem at all. We will just need a copy of the divorce decree, and depending on the situation, we may need a deed signed as well.
Definitions and Things You Should Know
1. What is a sucker price?
For an in-depth answer check out number 3 on the list of “Four Questions Cash Buyers Do Not Want You to Ask”.
The “sucker price” refers to a tactic that scammers use to lock up control of your property. They lock you into a contract that obligates you to sell them your home by promising you your asking price (or any a price that’s higher than they intend on paying) and then they exhaust your time table. Once you’re at the end of your rope and desperate to sell, they come back to you with a story explaining why they can no longer pay their promised purchase price and have to drop their offer. They are planning on the fact that the time they’ve wasted forces you into a position of having to sell your house to them at a discount.
If you want to avoid a sucker price make sure you work with a company that has a solid reputation and can justify their offer price. This is absolutely crucial. If the offer price sounds too good to be true then it is.
2. What is a title company?
A title company in the state of is a neutral 3rd party that provides title insurance, makes sure that the title to the real estate is question-free of any liens and/encumbrances and creates a place of signing between buyer and seller.
3. What is earnest money?
Earnest money is a good faith deposit as confirmation that the seller has accepted your offer.
4. What does signing mean?
Signing is when you go to the title company and sign your closing documents.
5. What does recording mean?
Recording is when the title company hands over your warranty deed and stamps it as property transferred.
6. What does selling mean?
You have a ready willing and able buyer.
About Fair Property Buyers
1. What kind of company is Fair Property Buyers?
Fair Property Buyers is the foremost home buying company in the nation, and we’ve been buying substandard properties and helping distressed homeowners since 2003. We are unique in the world of property purchasing investment companies because we are multifaceted. First, we are investment and financial professionals, second – we are building and reconstruction experts, and third – we understand the world of real estate and how it works – especially in today’s market. Our diversity means that we can do and offer many things that other companies can’t.
2. What kind of real estate will Fair Property Buyers buy?
The answer is simple: we can and will buy any kind of house, building, structure, vacant property, or undeveloped property or land. And we buy at any time, no matter what the personal or financial situation may be, or what kind of condition it’s in!
3. Where do you buy real estate?
Fair Property Buyers buys real estate anywhere in the continental United States.
Please contact us and take us up on our offer of a FREE and FAIR cash offer.
4. Are there examples of properties you’ve purchased we can look at?
Absolutely! We are proud of our track record and what our homeowners have said about us.
Here is a small sample of people we have helped, which also showcases some of the properties we have purchased.