How much experience do you have in buying probate homes?

I have been helping executors and heirs sell their probate homes quickly and easily since 1987. I have purchased hundreds of homes over the years and will use my experience and expertise to make you the best possible offer.

What information will you need the first time I contact you?

I need only the address and basic information about the home, such as the number of bedrooms and bathrooms and the overall condition of the property.

 

Do you pay fair prices for properties?

Most of the houses I purchase need repairs and remodeling. Some of them need to be completely renovated. When making an offer, I carefully consider the time and expense it will take to get the property into top condition and to sell it at a reasonable profit. I will not waste your time making you an unreasonably low offer.

Many sellers appreciate that I can pay cash and close very quickly. Of course, if you need more time, then we can work with any settlement date you choose. You don’t need to spend your precious time and money getting the property fixed up. You also save money by not paying expensive realtor fees or settlement costs. If you are looking to sell your house fast and hassle-free, contact me and I’ll make you a fair, no-obligation offer.

 

How are you different from a real estate agent?

Real estate agents list properties for sale and hope that the right buyer will come along. The average time to prepare a property for sale and get to closing in many markets right now is 3-5 months. Real estate agents charge you a commission if they can find a buyer. The standard agent’s commission is 6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay $6,000 in commissions to an agent). Real estate agents will also ask you to clean the home out and make repairs before they put it on the market. If your real estate agent finds a buyer, you can bet the buyer will order a home inspection and come up with a long list of repairs they will want completed before they buy the home. This takes up your time and money and can be very stressful.

In many cases, your buyer will be getting a mortgage loan, so the house will also have to be appraised. This is another stressful delay, as you wait to see if the house will appraise for the selling price. There is a chance that the buyer's loan will not go through at all.

I am not a real estate agent. I am a home buyer. Since you are dealing directly with me and I pay all cash, I can make a decision to buy your property within 24 hours (sometimes on the same day). Once we agree on a fair sales price, we can go to closing as fast as 7 days. If you need more time then we can work with your schedule. Not only will you pay no commissions, you won’t pay any closing costs since I will pay them for you. This saves you money. In addition, you do not need to clean the home out or make any repairs.

 

What if there are items of value in the home?

I can arrange to have an estate sale held at the home by a licensed estate sale company. These companies work on a commission basis and do not charge any other fees. They will bring in display tables, then organize and tag everything that the family wishes to sell. If there are any items that you would like to keep then I will have a licensed and insured moving company pack them up and move them to a location of your choice anywhere in the Washington, D.C. area. If there are any unwanted contents left, I will take care of disposing of them. You don't need to do any hauling or cleaning. These services are provided at no cost to you.

 

What is a settlement date?

A settlement date (also known as a closing date) is the day that you formally sell the property. The settlement takes place at a professional settlement company with a licensed attorney on staff. We will meet at the settlement company and sign all of the necessary paperwork. It takes about 30 minutes. If you live out of state, I can make arrangements with the settlement company to conduct a long distance settlement so that you will not need to leave your home.

 

Do I need to do lots of paperwork?

The licensed attorney at the settlement company will complete all of the necessary paperwork. All you need to do is send the attorney a copy of the death certificate and the court issued document showing that you are the executor or administrator of the estate. The attorney will take care of the rest of the paperwork and have everything ready for you to sign on the day of settlement. In Washington, D.C. and Maryland you will receive your check the day of settlement. In Virginia you will be issued a check the very next day. You may also choose to have the funds wired directly into your bank account.

 

What if I live in another state and do not wish to travel to the closing?

I have helped many executors do long distance closings. If you live out of state, I can arrange with the settlement attorney to send a notary to your house to complete the documents. On the day of settlement, the documents will be recorded at the county courthouse. The funds will be wired directly into your bank account one business day after settlement.

Since you will not pay any realtor commissions, settlement costs, attorney fees, or any other fees, every cent from the sale will go to the estate.

 

Do I need the probate court’s permission to sell the home?

Once you are the executor or the administrator of the estate, you can sell the property. You do not need to wait until probate is completed to sell the property. You can sell now, outside of the court red tape. I will help you every step of the way.

If you want to sell quickly, I can help you with the paperwork and make the entire process very easy for you. I will do everything for you. All you must do is show up at the local settlement attorney’s office and sign the necessary documents. The settlement attorney will wire the funds into the checking account of the estate within 24 hours.

 

What happens to the mortgage (if any) once you buy the house?

Your mortgage is paid off on the day of the closing. By law, the professional settlement company that holds the closing must pay off your mortgage and any other liens before they distribute the remainder of the funds.

 

Where do you buy property?

I buy property in the District of Columbia, Virginia and Maryland.

 

What kinds of houses do you buy?

I buy houses, townhouses and condominiums in any condition. Many probate homes are in need of repairs or renovation to get them up to today’s standards. Most of the homes that I purchase need work done to them. I love renovating a home and turning it into a modern day gem so a new family will be able to enjoy it!

 

Do you only buy probate homes? Do you buy other types of homes?

I specialize in buying probate homes but also buy distressed properties of every kind.

 

Are there any fees or commissions to work with you?

There are absolutely no fees or commissions when you sell your house to me. I’ll make you an offer, and if it’s a fit then I’ll buy your house and also pay all of your closing costs. No hassle. No fees of any kind.

 

Is there any obligation when I submit my information?

There is absolutely no obligation to you. Once you give me some basic information about your property, I will do some quick research, and set up a call with you to find out a bit more. I will then set up a time to view the house in person. After seeing the house, I will make you a fair all-cash offer within 24 hours. You decide if the offer works for you.

 

Will I have time to review the documents and/or seek legal advice before I sign anything?

Yes, it is always a good idea to carefully review all documents before signing them. I use a simple contract that is standard in Virginia, Maryland and Washington, D.C. I will be happy to answer any questions you may have. I want you to be completely comfortable with the entire process.

If you wish, you are also free to have your attorney review the documents.

 

How long do I have to make a decision about your offer?

You do not need to decide right away. Take as much time as you need to consider my offer and talk about it with your family and other advisors. I want to make the process easy for you but also want you to be happy in your decision to sell your home to me.

 

I see other websites that state “We Buy Houses.” Are you associated with any of them?

I am a private investor and not a big company. I’m not affiliated with any websites that state “We Buy Houses”. Those companies are known as “wholesalers”. They are “middle men” who seek to get your house under contract at a very low price, and then “flip” the contract to an investor who will buy your property. The companies get a fee from the investor for finding your property and putting the deal together. Since I work alone, and there is no “middle man” to pay, I can usually offer more for your property than those companies.