How Does We Buy Houses For Cash Work?
This article is going to explain to you how we buys houses for cash. The first answer will be short and sweet, more of an overview so you have an idea of how we can buy houses. The second answer will be much more in depth, walking through the entire process and hopefully answering the questions that you may have.
Short Answer
We, here at ACG 369 llc, are a real estate investment company. We keep cash on hand in order to purchase houses quickly to fix and flip. We have the ability to close fast because we are using our own cash. Our transactions do not involve a bank, which means we avoid the appraisals and inspections that add about a month of time to the transaction.
Long Answer
The process begins with you. As someone looking to sell your house quickly, you would either call us or fill out the form on our website and we will reach out to you immediately. On our initial phone call, we will ask you a few basic questions just to get an idea of the situation and how we can best help you. Questions like; What is the overall condition of the home? Are you living there, is it rented, or is it vacant? What does your timeline look like?
After the initial call, we usually like to come and see the property. It is not required that we come see the property, but in doing so it may enable us to raise our offer. If you are unable to show us the property for any reason, that is perfectly okay and we can still buy the house.
After coming to an agreement on price and figuring out the best closing date for you, we sign a purchase agreement. If you want to sign the agreement in person, we can do so. If you are unable to sign it in person, we have the ability for you to e-sign.
After the agreement is signed, it gets sent off to our title company. They will then order the lien and title search. The title search usually takes about 3 to 5 business days and the lien search can take anywhere from 3 to 10 business days. It just depends on the city; some cities are much faster than others. These two searches are a must do for any buyer whatsoever, whether it be a company or individual.
Once we get the title and lien search back, as long as everything is clear and looks good, we have the ability to close. That does not mean we do not buy houses with open permits and liens on it, we do, we just need to know about them beforehand.
Closing day is the day in which everything happens. It is the day that you get paid and we take ownership of the house.
Prorated Property Taxes
Florida property taxes must be paid in arrears. This means property taxes will be owed for when you owned your house during the year whether it is for just 30 days or as long as 300 days. Your property is prorated according to how many days you have owned your house. If you close in November, the property tax owed will be a lot higher than if you close in January.
In some instances, your property taxes may have been estimated and included in your current mortgage payment. This means the funds are collected every month to ensure your property tax is paid on time. Once the closing is complete, you should receive the balance of your escrow account. Unfortunately, selling your home can take months or even years. If you do not want to wait, we buy houses fast.
How Do You Get Paid?
There are three ways. The first method of payment is the safest and fastest method; a wire transfer. The other two ways are either a check or a money order, both which involve more time and more effort. If you choose to get your proceeds by wire transfer, you can expect to see the money hit your account no later than an hour after you sign your closing documents.
Once you get your funds, you are officially and legally done with the property. You do not have any commitments to it whatsoever and you can walk away with a clear conscience and cash in hand.
Here at ACG 369 llc, we have an amazing team of people that all strive to do their best. We pride ourselves on serving our clients as best as we possibly can. If you have any questions whatsoever about how to get started with us or have a question that we did not answer here, please give us a call! We look forward to helping you.
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Disclaimer: The information found on this website is not to be utilized as tax or legal advice. The state and federal laws change quite often and the information may not reflect your current state's laws. If you need tax or legal advice, consult with an accountant or an attorney.