Frequently Asked Questions:
Who is We Buy Houses Clarington?
WeBuyHousesClarington.com and 888-559-5156 is a small property acquisition company lead by local real estate investors. We have developed strong networks with other real estate investors, contractors and lenders in the Durham Region and Clarington. We can utilize these connections to help solve problems with residential real estate. Many of our real estate investors are looking to buy and hold real estate, rent it, and years down the road make profit when the house appreciates.
We are NOT pushy salespeople, so please don’t be intimidated from giving us a call. We are local real estate investors who want to buy, and are looking to create win-win situations for everyone involved. If this relationship won’t work we will NOT waste your time, and we’ll do our best to help you in any way we can.
Why would I use you?
Many homeowners run into situations where they no longer wish to hold onto their house or cannot afford to do so. We can structure deals that can help you:
- Get Money Fast
- Become Debt Free
- Make Profit Off a Fixer Upper (Without Lifting a Hammer)
- Keep Realtor Fees in Your Wallet (and avoid house showings)
- Hold onto your down payment, or sometimes your Home
- Beat the Banks (and make the interest rates they make, instead of paying it)
- Get Monthly Income from Renting your House (so you can live in Florida)
- Avoid Foreclosure / Power of Sale
Why would a real estate investor want my house?
Investors are looking for different features than the traditional buyer (who only wants to live in the property and isn’t looking at it from a long-term investment standpoint).
Can you buy my house fast?
Yes, our investors are pre-approved with banks and have credit available to them so they can move fast on distressed properties and unfavorable situations. We can often step in and get the house under contract fast to avoid Power of Sales/Foreclosures, or put an end to ugly separation or estate sale disputes.
So real estate investors aren’t all big shots with stacks of cash?
Although some of our investors have large amounts of money available, many real estate investors don’t themselves have large amounts of cash available. However, they have positioned themselves strongly with lenders and banks so that they can quickly borrow funds to pay house sellers fast. Many of the houses that they purchase don’t make immediate profit but they believe in real estate as a long term, buy, hold, and rent investment. By taking on a few head aches with property management and tenants in the present, they feel that 10-20 years down the road the property will be worth more, the mortgage will be lower and they can enjoy the profit during retirement.
How much will you pay me for my property?
With just a little bit of information from you about the property we can get you a ballpark price fast. The price will vary depending on the condition and characteristics of your property, along with the market conditions and comparable properties in your area. We can often offer 100% of the MPAC assessed value of the property. Sometimes if we can’t make it work with a price offer, we might be able to use other strategies to make it a win-win for both you and the investor.
Do I pay a real estate or sales commission?
No, we are not realtors and We Buy Houses Clarington does not collect real estate commissions. In fact we may be able to structure a sale where we even cover closing costs.
Are your investors house flippers?
Many of our investors flip houses, but not always in a traditional sense. More often then not they buy it, renovate it, and rent it for a long term. This allows them to add a property to their portfolio and avoid risks involved with traditional resale house flipping.
Why shouldn’t I flip the house myself?
Despite the recent trend of real estate related house flipping shows that make it look fun and easy, flipping a house takes a lot of time, money, connections (contractors, tradespeople), project management, and a high risk tolerance. If you’d like to try it we’d be happy to suggest several great books and clubs to check out to help build your knowledge and team. But Be Warned, a HUGE percentage of new house flippers fail, burn out, or never get started and it takes a lot of dedication and hard work to succeed.
How long will it take to close?
In some instances our members have closed in less than a week.
What if I don’t like the price they offer?
You are under absolutely NO obligation with us to accept our price or conditions. We’ll do our best to buy your house, if we can’t, we’ll do our best to point you in the direction of someone who can.
What if my house needs major renovations, updating, or repairs?
It makes sense for an investor with experience and connections to take on the headaches of a house renovation because they can help that property reach it’s highest and best use for profit. Renovating it before us is almost always a waste of your time and money.
How can I "Beat the Banks" or get monthly paycheques?
If you have substantial equity in the house and no (or a small) mortgage remaining, we may be able to structure a Vendor Take Back (VTB) mortgage. VTB means we’ll take possession of the house and rent out all (or a portion of it) to make money and you’ll be able to take the role of the bank. We’ll be paying you the High Interest rate on your money instead of the bank. This is often a great way for retirees to downsize, while still receiving a chunk of cash (the down payment), and then receiving monthly mortgage payments for the next 20 years. As you’ve likely noticed, the banks structure mortgages so that by the time the mortgage is paid off the owner has actually paid for the house twice over. Wouldn’t you like to Beat the Bank and have a passive investment in real estate that can fund your retirement in Florida?
OK, I’ll give you guys a try, what’s my next step?
Please fill out the form on our main page at www.WeBuyHousesClarington.com or give us a call at our 24hr hotline 888-559-5156. The more information you can provide us about the house and your situation the faster we’ll be able to decide the best way we can help you.