How To Find a Trusted Home Buying Company

Author

Home Downsizing Solutions

For more information about the author, click to view their website: Home Downsizing Solutions

Posted on

Feb 07, 2024

Book/Edition

Nebraska - Eastern Region

Being up front with you, for the first 10 years (of the now more than 25) of being "in business" as a home buyer, I really didn't know why a home seller would sell to my company.  Although I looked at houses, made offers, and bought houses, I also had the question in the back of my mind... "why doesn't this person just list their house with an agent?"

Then the real estate market, along with the rest of the economy "corrected" in 2008.  In the several years after that, I had more seniors and their families calling me that wanted to sell a house.  Because they typically had no or very little debt, they actually could sell their house if they wanted to.

The way the market was back then, I would talk to numerous sellers who had listed their house with an agent (some more than once), and when the house didn't sell, would call me.  We are in a much different market now, but the reasons that a seller would sell to a home buyer haven't changed all that much.

Sellers would typically tell me that they had spoken to one or more real estate agents, were told they needed to do this, fix that, etc, to list their house, but they didn't want to do those things.  They just wanted to sell their house.

For years, one of the first things I ask a seller is, "why wouldn't you just list your house with an agent?"  And, they typically always have or had a reason or reasons why they didn't.

A common item that I heard and continue to hear from sellers is, "I'm sure I could get more for my house if I listed it, but I like and value the benefits your company offers, so I would prefer to just sell the house to you."

These were the hundreds of sellers that "taught me" why they would choose to sell their house to me.

Not needing to get "top dollar" or finding value in home buyer company non-financial benefits are something that seems impossible to grasp for most real estate agents.

Are Home Buying Companies A Scam?

In my view, some certainly are.  As I've discussed in other articles and videos, beware of "wholesalers."  Wholesalers are individuals or companies that state that they buy houses, advertise that they buy houses, but actually have no intent or financial ability to do so.  Once they get a contract to purchase a house, they look for a "real" buyer to sell the contract to and close on the transaction.

Because they have no financial risk, they can often overpromise what they can pay for the house.  And, if they cannot find an end buyer, it leaves the seller in a very precarious position, or the wholesaler tries to reduce the purchase price.

Another problem is when a home buyer doesn't actually look at your house before making an offer.  When they make an offer without looking at a house, and the seller signs an agreement with them, and they do finally inspect the property, the price will likely be reduced based on some unknown item the buyer states that they weren't aware of.

A real home buyer should be able to "close" and purchase a property as soon as a title company can check title and prepare closing paperwork.  With Home Downsizing Solutions, in less than 7 days, or when the seller wants.  We've even purchased a house within 24 hours of having an agreement signed!

Characteristics Of A Good Home Buying Company

I will provide several characteristics of what I think you should look for in a good home buying company, as these are items that I have done to ensure we are "one of the good guys."

Have a Real Estate License.  I think its beneficial for a member of a home buying company to have a real estate license.  In an effort to serve sellers I work with as well as possible, I have a real estate license as well as an SRES (Senior Real Estate Specialist) designation.

This allows me to provide information on the positives and negatives of listing a house as well as selling to a home buying company.  

Have The Financial Ability To Actually Buy Houses.  As mentioned above, there are companies that state that they buy houses, but actually don't or can't.  In my company's case, we actually buy houses.  I encourage sellers to call the title/closing company that the home buyer says will close the transaction to confirm that they can actually buy the house, and not just act as a middleman to sell the contract to the end buyer.

I also encourage sellers that I work with to call the title/closing company to ensure the purchase agreement contains the specific information that the seller is agreeing to or understands about the agreement, so that there are no misunderstandings before closing.

No Pressure Sales Tactics.  I would warn sellers to beware of companies that pressure a seller to sign immediately, or before they were comfortable with signing a purchase agreement.

For a similar reason, I would also beware of agents that just want to disparage home buying companies and not acknowledge at least some of the benefits sellers find of value and choose to work with them.

Transparency.  I think a legitimate home buying company should share market information with a seller so they can be as educated as possible.  In my case, we typically always show sellers comparable information for their area.  I want them to see the gross selling price that houses have sold for and the condition of those houses.  I also want to provide a realistic explanation of all the transaction costs to sell a house.

Realize that when an agent says they can sell a house for $200,000, for example, that is a "gross" number and not the "net" amount that a seller will put in their pocket.  The total amount of transaction costs and what a seller will "net" from the sale of a house will vary and is dependent upon a number of factors.  In average markets, transaction costs will typically amount to 10% to 15% of the gross selling price.

Credible and Trustworthy Home Downsizing Solutions and their predecessor entity have had an A+ rating with the Better Business Bureau for more than 25 years.  They also have numerous testimonials and 5 start Google reviews from those 25+ years.

As mentioned above, I have a real estate license with an SRES designation.

I've written books, articles, and provide other information to educate homeowners about selling a house and downsizing or moving to senior living.

Home Downsizing Solutions is also an Industry Partner with the NASMM (National Association of Senior Move Managers).

Why Would Someone Want To Sell A House To A Home Buying Company?

What I tell every homeowner I meet with is, that if the benefits that Home Downsizing Solutions offers are of enough value, we can be a great solution.  Otherwise, one of the Total Solutions Agents we work with could be a better option to list and sell their house in a traditional manner.

What Are Home Buying Company Benefits?

No Need To Do Repairs or Updates to A House.  If your house is in great condition, this item is most likely not very important.  But to a person who has owned a house for 20, 30, or more years and has deferred maintenance or updates to be competitive with potential buyers, this may be a very valuable benefit.

Contacting multiple contractors, getting bids, ensuring the work is done well, and living in a construction zone is not something that every homeowner wants to deal with.  I've also had numerous sellers say, "If I do all that work and put a bunch of money into my house, I just as well stay."

No Need To Get Rid Of The Stuff.  With Home Downsizing Solutions, I always tell sellers to take what you want, sell what you want, and leave the rest...  we'll take care of it.  Unlike a traditional sale, where you want the house to show as well as possible, we don't care what the house looks like or the amount of stuff.  We purchase hoarder houses, so whatever stuff a seller has is not an issue.  This eliminates the need of getting a dumpster and the time and effort to go through stuff that a seller just doesn't care about.

No Showings.  A lot of sellers we've worked with just don't want to get and keep their house in a show ready condition.  They don't want strangers in their house.  They don't want to have to leave their house every time an agent wants to show the house.  Maybe someone in the household has health issues that does not allow them to leave the house, or at least not without a great deal of effort and planning.

No Whole House Inspections or Appraisal Surprises.  Most traditional buyers will, understandably, always want a whole house inspection.  And since most buyers need to get a loan from a traditional lender, they will need an appraisal.  In almost all but the very "hot" markets, these items notoriously will turn up "deficiencies" that give the buyer opportunities to renegotiate the purchase price.  In my company's case, we buy the house completely "as is."  Unless a structural issue has been discussed with a seller during the initial walkthrough or signing a purchase agreement, the price doesn't change.

Move When You Want.  With Home Downsizing Solutions, we can close and buy a house, but let the seller remain in the house for up to 90 days or more.

We have worked with many situations where the seller had a "catch 22" where they could either move into a new living arrangement right away but didn't want to leave a vacant house, or they wanted to sell but their new home or apartment wasn't ready for them to move into.  By buying their house and letting them transition to their new home or apartment on their schedule, we eliminated those issues.

By being able to buy a house before having to move, sellers are also able to eliminate the need of a bridge loan, if they needed funds from the sale of their house to move into a new living arrangement.

We have also worked with situations where we purchased a house, and let the seller keep possession until they were able to have a local resource have an estate sale so they could monetize whatever "stuff" they could.  Then we took care of any of the stuff that didn't sell, so the seller or estate sale company didn't have the time or expense to dispose of the items.

Sell Your House And Stay As Long As You Want.  If you love your home but don't want to worry about maintenance or repairs, we now provide an option for that.  We can buy a house and allow the seller to rent the property as long as they want.  We can even come in, make updates or repairs to "age in place," and create the home environment you want.

Provide Concierge Services.  A good home buying company, like Home Downsizing Solutions, will learn and understand the logistical needs of the seller.  We have provided or introduced sellers to services such as senior placement agents, senior move managers, moving companies, or other resources that made the transition to a new home less stressful.

What Do Home Buying Companies Actually Pay For Houses

One of the first questions I typically am asked is, "what do you pay for houses," or "what percentage of market value do you pay for houses?"  

It is common for real estate investing "gurus" to teach their new students to make offers of 70% to 75% of market value, minus repairs.  However, for a good home buying company, this is not all that accurate, and is a very simplistic way to look at this.  It would be comparable to say, "all real estate agents charge 7% to sell a house."

With Home Downsizing Solutions, it depends... it depends on what time of year (holding costs are higher in the winter).  It depends on the comparables we can find to determine values or potential values of an area or subdivision.  It depends if there are just cosmetic and "stuff" issues to deal with or if there are structural or potential structural issues.  

Another way to state the above is, it depends on risk.  If we perceive more risk to buying a house, our offer is going to be lower than if we perceive less risk.

When a real estate agent lists a house, they have no financial risk.  When a wholesaler makes an offer on a house, they have no financial risk.  When my company buys a house, we have a lot of financial risk.  If our calculations are wrong, or there are issues with a house that we were not able to determine before purchasing a house, we can't go back to a seller and renegotiate.  We have all the risk.

I know that when we speak to a seller, we have to be competitive with our offers, because they have multiple other options to choose from.  If we were not competitive or provide value to potential sellers, we would not be in business after 25+ years.

Home Downsizing Solutions home buyers provides multiple types of offers for sellers.  One example of an offer, other than an all-cash offer, is if a seller doesn't need all of the funds from the sale of a house immediately, we can pay a much higher than retail price by making payments to the seller and turning the equity in the house into an income stream.  Another way to look at this type of option is, the easier it is to buy a house, the more we can pay.

Is A Cash Home Buying Company A Good Option To Sell A House?

Everyone's situation is unique, and one size does not fit all.  If you're considering selling your house, we can provide a free consultation to discuss the positives and negatives of the multiple options you have to get your house sold.  We want to provide the information you need to make an informed decision of the best path forward for your real estate needs.

For additional information, just go to www.HomeDownsiziing.com or call us at (855)-433-5854.

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YOU CAN SELL YOUR HOME OVER THE SUMMER IN BRADENTON & SARASOTA

Sometimes you have no choice on when you need to sell your home a job transfer, you saw another home you really want to buy, or you have an unexpected life change.  Selling in the off season such as summer isnt ideal but it can be done, and its imperative its done the right way to get the best results.And, believe it or not, not everyone is on vacation in the summer!  In fact, some buyers have more flexible schedules. There are also plenty of buyers that are just getting their search started and those who didnt find the right house or got outbid during the busy Spring selling season.  Summer really can be a good time to sell your home to one of these off-season buyers who dont want to wait until the Fall or next Spring. Here are our must-do tips for that summertime sale:Target the Right Buyers for Your NeighborhoodAs we mentioned above, there are certain buyers who keep looking over the summer. But there are also buyers who are relocating to Bradenton/Sarasota and have to move pronto. You need to target these different types of buyers, tapping into their needs and wants for a home.If youre in an urban Bradenton neighborhood, with more young and hip buyers, then your focus is on first-time buyers who have more flexibility and may not have a deadline. But, keep in mind, that the buyers still looking into summertime are serious buyers and are ready to find a home and put in an offer.Youll need to price your home right from the get-go, be generous with your terms (offer to pay for closing costs) and make your home a summer retreat for them.Also be flexible with the hours you show your home. With daylight lasting well past dinnertime, be open to later showings. Younger, first-time buyers will find this time more convenient during their work week. Make sure you take advantage of these daylight hours!For Lakewood Ranch or a suburban Sarasota home, your buyers may be tied to the school calendar and want to settle on a home quickly. 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Outdoor living space can be a big selling point, even in the summer in Florida.Plan to spend a little bit on some outdoor dcor, whether its a bistro table and chairs on your deck; patio furniture with colorful throw pillows; or a lovely wooden bench and flowerpots near your walkway. This may be a great time to work with a stager so you dont have to buy many items yourself.Dont skimp on or blast the air conditioning. Dont make your home hot and stuffy so that buyers rush through your home. Or dont make it too cold, that buyers sprint through the rooms. Set your thermostat at a comfortable and cool temperature. If youve already moved, make sure you time it so that your home stays cool during possible showings. Buyers will love to get out of the heat!Brighten up your home. Consider switching out dark colored pillows, throw rugs, curtains, and other dcor to lighter colors.  Clean the windows, open the blinds, and keep the lights on. Even though it doesnt get dark until much later in the summer, you still want to light up the inside of your home.Maintain your yard and water, water, water. Mow your lawn, trim your bushes and trees. Sweep your deck or patio regularly.  The summer heat can make your lawn turn brown water that and all of your flowers in beds and pots.Be prepared for getting your family out of the house. If you have children, selling in the summer can be difficult because they arent in school and are at home, possibly all day long. Hopefully you can keep your home in order as much as possible and develop a good exit strategy for those times you need to show it. Preplan so you know if you need to have a sitter, set up a play date, sign up for a camp, or head out for a long dinner.Putting It All TogetherAs you can see, selling in the summertime doesnt have to be a negative. Youll have more daylight hours to showcase your home, youll see more serious buyers or those on a deadline themselves, and many homes can look their best inside and outside in the summer. All positive!But do keep in mind that summer is slower and there will be less traffic to your home than if you listed in the height of the springtime selling season. That can be a chaotic and rushed time, so the lazy days of summer is definitely a different market. You must keep it all in perspective.Every seller has their own personal specifics and deadline when it comes to selling, especially if you need to list your home in the summer. You MUST know your market and neighborhood so that you price your home right and also have an idea of what you should or shouldnt be doing when negotiating terms.Im here to help you with a summertime sale. I have a sales plan to get your home sold as quickly as possible for the most amount of money possible. 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8 TIPS TO KEEP CALM AND CLOSE THE CHAPTER

Your Mom loved living in Sarasota.  She was active and had many lovely friends with whom she played bridge, golfed, and enjoyed cocktail hour.  That made your heart sing knowing she was joyful and taken care of even though you were only able to travel from up north to visit her a couple of times a year.But then this unexpected life event happened.  She graduated rehab with flying colors and has been comfortably situated in an Assisted Living Community. It all happened so fast. Just last month she hit 3 over par and enjoyed a gin and tonic to celebrate!  Now comes the hard part.  The doc says she wont be able to live on her own again, and it doesnt make sense to retain the house she once lived in.  You cant ask Mildred or Marge, her best golfing buds, to do what comes next.  Its up to you and your siblings, and where do you begin?Below are eight tips to help you handle your moms personal possessions and real estate from a long-distance perspective now that she is comfortable in her new Sarasota Assisted Living Community.Plan Your Work, Work Your PlanSpend some time thinking about whats next.  What needs to be done, and who will be handling it.  The worst thing you can do is jump into the action phase without seeing the entire big picture. Some things to consider up front:TimeHow much time will you need to gather, organize, pack, choose, decide, ship, and move her belongings?How much time can you get off work to travel to Sarasota, handle the move, spruce up the property, and put the house on the market and coordinate the sale? LogisticsWhen do you start?Should you fly down to SRQ, or drive?How many times will you need to make the trip?Which siblings are going to help?Can you coordinate schedules so everyone can work together?DecisionsWhat personal possessions will Mom want in her new home?Who gets which heirloom?Do you ship these precious pieces, or store them?Should you advertise and host an estate sale, or donate?Mom lived in the house for 18 years. It definitely needs some cleaning and possibly a bit of updating in order to sell it. Who will handle THAT?Choose To Work With A Local And Experienced PartnerTackling the project of cleaning out a home and readying it for market is a daunting task.  Overseeing the project from 800 miles north of Sarasota is a complete game-changer.   Being an out-of-state personal representative or designated beloved family member is no easy task.There is a variety of wonderful senior services in Sarasota, and you can call on them for help.  Just to start, youll need cleaners, movers (& boxes), painters (& possibly other contractors), packers, shippers, donation charities, a dumpster rental, a Realtor, and a stager.  This is on top of coordinating with doctors, the assisted living facility, insurance adjusters, Medicare, or Medicaid, and OR: You might choose a local project manager who will serve as your liaison to coordinate the on-site logistics of removing the personal belongings, prepping, and selling the real property for top dollar.   This is my specialty, and I would first meet with you at the house, discuss the objectives and goals, give you time to remove your personal mementos, and then youd hand over the key.  From there wed agree on a master game plan, and Id follow it to a T with good communications along the way.  You head back north to your other responsibilities, and Ill get your job done here in Sarasota.    Research The Area Regarding Home Values And TrendsIf youre working with a quality Realtor, shell know the area and will give you solid area information about market trends and home values that will guide you on deciding on list price.  Of course, its always good to stay up on it yourself to be assured that her guidance is spot on.Dont Let Your Emotions Make Your DecisionsKnowing life has taken a left turn for Mom is hard to swallow. 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Local Services By This Author

Home Downsizing Solutions

Real Estate PO Box 22339, Lincoln, Nebraska, 68542

Home Downsizing Solutions home buyers, powered by The Sierra Group LLC, is a Professional Home Buying company. We have been providing custom selling solutions to sellers for more than 25 years. We are also a member of the Better Business Bureau.Our motto is Sell Your House As Is, for a Fair Price, on Your Date of Choice. We offer the Fastest, most Convenient way to Sell Your House!!

Home Downsizing Solutions

Veteran Services 1201 Calvert Street, Lincoln, Nebraska, 68542

Home Downsizing Solutions home buyers, powered by The Sierra Group LLC, is a Professional Home Buying company. We have been providing custom selling solutions to sellers for more than 25 years. We are also a member of the Better Business Bureau.  Our motto is Sell Your House As Is, for a Fair Price, on Your Date of Choice. We offer the Fastest, most Convenient way to Sell Your House!!

Home Downsizing Solutions

Downsizing and Relocation PO Box 22339, Lincoln, Nebraska, 68542

Discover Stress-Free Home Downsizing Solutions in Nebraska with Home Downsizing SolutionsAre you contemplating a shift to a more manageable living space in Nebraska? Home Downsizing Solutions offers tailored services to help you sell your house quickly and transition to a carefree lifestyle. Our comprehensive solutions are designed to streamline the entire downsizing process, allowing you to embrace a simpler, more fulfilling life without the usual stress and hassle.What is Home Downsizing?Home downsizing typically involves moving to a smaller, more manageable property. This can mean selling a large family home and relocating to a condo, apartment, or a smaller single-family home. The decision to downsize is often motivated by the desire to reduce living expenses, minimize upkeep, and align ones living situation with changing lifestyle needs.Why Choose Home Downsizing Solutions in Nebraska?Home Downsizing Solutions understands the unique needs of homeowners in Nebraska looking to downsize. With our expert knowledge of the Nebraska real estate market, we offer fast, efficient service that ensures you can sell your home quickly and for a great price. Here's how we stand out:Speed: We specialize in quick sales, helping you move on to your next phase of life without delay.Convenience: Our process removes the usual complications of selling a home, providing a smooth transition.Experience: With years of expertise in the Nebraska market, we understand local trends and buyer demands.Customization: Every downsizing plan is tailored to the specific needs of our clients, ensuring a personalized experience.The Benefits of Downsizing Your Home in NebraskaFinancial AdvantagesBy selling your larger home and moving into a smaller property, you could significantly reduce your monthly expenditures. Smaller homes often come with lower utility costs, reduced maintenance fees, and cheaper property taxes. This financial freedom can open up new opportunities for travel, hobbies, and even early retirement.Simplified MaintenanceSmaller properties require less upkeep, which means less stress and more time to enjoy your passions. With less space to clean and maintain, you can focus on what truly matters to you.Enhanced LifestyleDownsizing can also lead to a more socially active and engaged lifestyle. Many downsizing destinations in Nebraska offer vibrant communities with amenities tailored to adults and retirees, fostering a sense of community and belonging.Our Home Downsizing Services in NebraskaHome Downsizing Solutions offers a variety of services designed to facilitate an easy and effective transition:Quick Home Sales: We specialize in expedited home sales, ensuring that you can move forward with your downsizing plans without unnecessary delays.Comprehensive Market Analysis: Our team provides detailed market insights to position your home competitively, ensuring you get the best possible offer.Professional Home Staging: We help your home make an outstanding first impression, increasing its marketability and sale price.Decluttering and Moving Assistance: We assist with sorting and removing unwanted items and coordinate moving services that respect your belongings and time.How to Start Downsizing in NebraskaAssess Your NeedsConsider what you truly need in your new living arrangement. How much space do you require? What kind of lifestyle do you wish to lead? Answering these questions can help determine the type of property you should be looking for.Plan Your FinancesReview your financial situation to understand how the sale of your current home can fund your downsizing move. If necessary, consult with financial advisors to plan your budget effectively.Choose the Right LocationWhether you prefer the bustling streets of Omaha or the peaceful ambiance of a smaller town like Kearney, choosing the right location is crucial. Consider factors such as proximity to family, healthcare facilities, and social activities.Contact Home Downsizing SolutionsReach out to us to learn more about how we can assist you in making a seamless transition to a downsized home. Our friendly team is ready to provide you with all the information you need and guide you through every step of the process.ConclusionDownsizing your home in Nebraska doesn't have to be a daunting task. With Home Downsizing Solutions, you can sell your house quickly and move towards a more manageable, cost-effective, and fulfilling lifestyle. Contact us today to discover how easy and stress-free downsizing can be. Prepare to enjoy the benefits of a simpler life, with fewer responsibilities and more freedom to enjoy your golden years in beautiful Nebraska. Get in touch now and take the first step towards a carefree lifestyle with Home Downsizing Solutions.