Frequently Asked Questions
Maybe you have a few questions. That’s okay; most people do. So here’s a quick collection of some of the questions people ask us… along with our answers. If you still have a question, don’t hesitate to contact us (or give us a call) and we’ll be happy to answer it for you.
Q: Will you be listing my house on the MLS or actually buying it?
A: Great question. We’re not agents, and we don’t list houses. We are professional home buyers: We buy houses that meet our purchasing criteria. From there we may repair the house and resell it to another home owner or keep it as a rental ourselves.
Q: Do you pay fair prices for properties?
A: Many of the houses we purchase are below market value (we do this so we can resell it at a profit to another home owner). We are looking to get a fair discount on a property. However, in our experience, many sellers aren’t necessarily expecting a large “windfall” on the property but rather appreciate that we can offer cash, we close very quickly (no waiting for financing), and no time or effort or expense is required on your part of fix up the property or pay agent fees. If that’s what you’re looking for and you see the value in getting your house sold fast… let’s see if we can come to a fair win-win price. (Besides, our no-obligation pricing commitment means that you do not have to move forward with the offer we give… but it’s good to know what we’re offering!)
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Q: How do you determine the price to offer on my house?
A: Great question, and we’re an open book: Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and values of comparable houses sold in the area recently. As you know, house values have taken a huge hit in the last 5 years and most areas still haven’t seen prices come back up. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.
Q: Are there any fees or commissions to work with you?
A: This is what makes us stand out from the traditional method of selling your house: There are NO fees or commissions when you sell your house us. We’ll make you an offer, and if it’s a fit then we’ll buy your house (and we’ll often pay for the closing costs too!). No hassle. No fees. We make our money after we pay for repairs on the house (if any) and sell it for a profit (we’re taking all of the risk here on whether we can sell it for a profit or not, once we buy the house from you… the responsibility is ours and you walk away without the burden of the property and it’s payments… and often with cash in your hand).
Q: How are you different from a real estate agent?
A: Real estate agents list properties and hope that someone will buy them. The agent shows the properties to prospective buyers if there are any (the average time to sell a property in many markets right now is 6-12 months) and then take a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3-6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $3,000 – $6,000 in commissions to an agent). Agents provide a great service for those that can wait 6-12 months to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different: We’re not agents, we’re home buyers. Our company actually buys houses. We don’t list houses. Since we’re actually the one buying the house from you, and we pay with all cash… we can make a decision to buy your house within a couple days (sometimes the same day). Again, we make our living by taking the risk to buy the house with our own cash, repair the house, and market it ourselves to find a buyer (which is the hard part in this market).
Q: What if I’m not quite ready to sell my house?
A:No worries! Just because now isn’t the right time to sell your property doesn’t mean you can’t reach out. We have plenty of clients who we stay in touch with for years before we buy their house. No matter how small your question we are always happy to help. Give us a call at (410) 779-4622. There are no obligations, we’re truly just here to help.
Q: How does a We Buy Houses Company like Dependable Homebuyers make money?
A: As a We Buy Houses company it is important that we be able to continue to operate as a business and that means that we need to make a small profit on each property that we buy. We do this in a number of ways:
- We cut out the middleman. No real estate agent in the transaction means that no money is thrown away to a real estate agent commission. This means that we can purchase your property at a slight discount while you still get to walk away with just as much money in your pocket A true win-win.
- We will add value to your property after purchase. This may include adding additional bathrooms or bedrooms, updating the kitchen, modernizing heating and cooling systems, and painting the exterior to increase curb appeal. We use our extensive knowledge of the local real estate market to renovate less desirable homes into what buyers are looking for.
- We leverage the scaling benefit that comes with renovating multiple project simultaneously. When we buy houses, we are able to conduct renovations at a lower cost than the traditional homeowner. We have contracting crews who work directly for us and the reduced overhead means that Dependable Homebuyers is able to pay more than any other We Buy Houses company in in your area.
Q: Are you sure you’ll buy my house? My Realtor couldn’t sell it.
A: Don’t worry, you’re not alone. A large percentage of properties that get listed on the MLS never sell for one reason or another. This could be due to condition, existing tenants, problem neighbors, poor timing, and a treasure trove of other reasons. When you list on the MLS you are marketing towards owner occupants. Most We Buy Houses companies shy away from MLS listings because of the additional overhead and costs that come along with real estate agents. It’s likely that the problem isn’t you house, just that it’s not a good fit for owner occupant homebuyers.
Q: Is there any obligation when I submit my info?
A: There is absolutely zero obligation for you. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out a bit more, and make you an all-cash offer that’s fair for you and fair for us. From there, it’s 100% your decision on whether or not you’d like to sell your house to us… and we won’t hassle you, won’t harass you… it’s 100% your decision and we’ll let you decide what’s right for you.
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