frequently asked questions
No. Our agreement to discuss our options and meet with you in person or over the phone is absolutely free with no obligation.
No. We do, however, prefer access to the home to do a walk-through before making an offer. We take things like the layout, condition of the property, location, etc. into account when making our offer, so we need to be able to assess those items thoroughly.
We get why some people don’t want to meet in person prior to being given an offer. They want to ensure they don’t receive any pressure to take an offer and that we’re not wasting their time with an offer they wouldn’t bother considering. If this sounds like you, we’re happy to send you a detailed written offer via email for you to take a look at before meeting with us in person, should you decide to move forward. If you would prefer to meet us in person, we are happy to do so.
No. Visiting your home and making an offer to purchase requires no obligation on your part. We’re here to visit with you, discuss your options, answer any questions and make an offer. You choose to either accept or decline the offer.
The first step is to tell us about your property and your situation by either call,text, email, or by filling out the contact form on this site. The next step for us is to review the property details and consider all of our possible options. From this, we will make an offer based on the details provided earlier. If you choose to accept our offer, we will be ready to close on your property with a reputable title company in the area.
As investors, we make fair, no-obligation cash or term based offers based on the expected market value of your house after a full renovation, taking into account the renovation time and costs. Keeping this in mind, understand that we buy at a discount. However, selling to We Buy Wasatch provides a number of benefits to the seller. These include the following:
- No realtor or agent commissions.
- We cover normal closing costs.
- We pay cash or offer terms, keeping it simple. No delays from the lender or having to wait extended periods of time for financing to come through.
- We buy “as is,” so need to worry about repairs or cleanup.
- We close on your schedule when you’re ready.
- If you’re in a rush, we can close quickly, so you can move on.
Before making you an offer, we evaluate a number of factors, including the following:
- The current condition of your house.
- The approximate cost of repairs and renovations required.
- The amount of time it will take to renovate your house.
- The future “after repaired value” value of your house, compared to other homes in the area.
- The amount of real estate commissions required to sell your home after renovation.
- The cost of maintaining the house until it’s ready to sell, including insurance, utilities, taxes, loan payments, and more.
The estimated future “after repaired value” value of your renovated house, minus these costs, helps us arrive at the cash offer that we make.
In most cases, when we don’t use own money, we have private lenders that lend us the cash to purchase and fix properties. Since they’re not traditional banks, we can close quickly. Our lenders trust us to know what we’re doing when we’re buying properties. Therefore, there’s no need for appraisals, inspections, etc, which allows us to close in two weeks or less. They provide us cash, we hand over the cash to the title company handling the closing, and they hand that cash to you.
In some circumstances, we will take over payments on houses for property owners. Typically, people choose this option due to a negative event in their life. It could be a job transfer, divorce, or it could be a job loss where they can no longer pay the mortgage. In most every case, it’s the result of the seller no longer being able to pay the mortgage payment.
You may have heard of this option referred to as “selling property subject to existing financing.” Basically, this involves the homeowner deeding over the property to the investor. The investor then takes over the mortgage payments, maintains the property, the insurance, and the property taxes. At this point, the seller of the property would no longer have any financial obligation towards the house. The problem with this option is typically that the lender is hesitant to allow it. That’s why we can help. We are familiar with taking over payments and know exactly how to work with lenders so that it’s easy to get them on board.
This type of transaction could have a negative impact on the ability of the seller to obtain a future loan, since it’s tied to the investor buyers’ financial behavior. If the seller of the property goes to apply for other loans in the future, this existing loan would still appear on their credit report, since the financing is still in their name. The payment due on the loan(that the seller is no longer paying, but rather the investor) would be included as a monthly expense when creditors decide if that seller can afford a new loan, be it for a car or a new house. We understand these concerns and take them seriously, which is why we feel full disclosure is the best policy regarding options of selling your house. This allows you to make a well thought decision, knowing your options up front before moving ahead with the sale.
We close on your home the same as we would in any typical home sale. The closing is at a reputable title company who ensures we only receive title to the property once you’ve received your funds. The only real difference is that because it is a cash sale, there is a lot less paperwork to sign.
No. We make our offer for the property as-is. We assess the value of the home and the costs associated with any repairs that need to be made. Our offer to purchase your home is not contingent upon it passing any inspections.
It’s not always what we plan on doing, but it is a possibility. Our goal is to ensure that once we have a contract on your house, that it closes in the quickest and most painless fashion for you. We do what we have to do to make that happen. Investors sometimes assigning their interest in a home to other investors is simply part of the business.
Once again, the difference is in how much each investor tries to make off the deal when transferring their interest to another investor. We’re more focused on ensuring the home closes at the price we offered you than anything else and not on our personal profit if we need to transfer our interest in the deal for some reason.
Yes. In addition to single family houses, we are interested in condos, townhouses, duplexes and mobile homes.