What Is Distressed Property?
Oftentimes when people think about distressed property in Houston, they picture a run-down home with a poorly kept lawn, maybe even some broken windows. While this is true, it’s really only one version of a distressed home. There are several different factors that make a home distressed. To the surprise of some, they aren’t always easily apparent.
To break down what a distressed home is, it’s important to understand a few of the major categories. While some of these factors are different, many often come hand-in-hand.
From the loss of beloved memories and keepsakes down to the tangible damage done to your home, fire can be very cruel. After a house fire, life never really feels the same. Oftentimes, homeowners can’t even bear the thought of moving back into a distressed property like this because they know it will never be the same.
When you want to sell a fire-damaged house, there’s some thinking to do. First, you should start by contacting your homeowner’s insurance. Speak to someone who can help you understand your benefits and help you figure out your options. An agent might also be able to set you up with a temporary place to stay.
Next, you might want to find a restoration company to clean up the soot and ash as well as address the water damage from the hoses.
Another form of distressed property in Houston is an outdated home. Perhaps it’s been decades since you first moved into your home. Are you ready to relocate to a more modern property? Before you make an offer on a new house, you might feel worried about whether your outdated home will sell on the market.
Preparing an outdated home for the real estate market can require extensive repairs and updates that leave it sitting there for months as you try to cover the mortgage of a new property. If you want to sell it as-is, you might be concerned that you simply won’t net a profit because it’s in poor condition.
At Square one Solutions, we buy distressed property in Houston and love to work with outdated homes. When you want to sell an older house, reach out to our team of professional home investors for a no-obligation cash offer!
Selling distressed property in Houston is not easy. As professional homebuyers in Houston, we love getting to know our neighbors and helping them make the best real estate decisions for their situation.
Real estate agents list properties and show them to prospective buyers (if there are any). If they’re able to make a sale, they take a percentage of the sale price as their commission. In many cases, a real estate agent’s commission is 3 to 6%. This means, if your house sells for $100,000, you have to pay between $3,000 to $6,000 in commissions. If you don’t have the time, patience, or ability or sell through a traditional agent, that’s where Square One Offer can help. We’re not agents – we’re home buyers. Since we’re buying the house directly from you for cash, we can buy your house fast. We make our living by taking the risk to buy the house with our own cash, fix it up, and market it ourselves to find a buyer.
The closing date is flexible most of the time. If we sign a contract and you need several months to prepare for your move we are willing to work with you. There is NO PRESSURE from us to close by any particular date and we will accommodate your needs to the best of our ability. Also, we may be able to lease the property back to you after closing for a short time.
Once we can set a date for closing you will know the exact date to schedule your move. Closing is when the final papers are signed, you receive your money, and when ownership transfers out of your hands. By this time, the house should be empty and vacant unless we make other arrangements based on your specific needs. We begin the process of repairs and maintenance on the property immediately after closing and anything left behind will be donated to charity or disposed of.
At Square One Offer, we are professional home buyers. we buy houses that meet our purchasing criteria. Once we have purchased a house, we spend the time and money to repair the house and resell it to another homeowner. Although we have licnesed agents that can help list your home our primary strategy is to give you a cash offer. Sometimes the home or situation the homeowner is in doesn’t constitute a quick closing where the homeowner can wait more time to get more money by listing the house on the open market.
We are 100% transparent with our process! The houses we purchase are below market value so we can resell them at a profit after we make the necessary repairs and updates. In our experience, our clients aren’t looking for a large “windfall” on their property. They want to be able to sell their house fast, for a fair cash price, and with as little hassle and stress as possible. They are not looking to spend the time or money to fix up the property or pay agent fees and closing costs. If this sounds like you, give us a call today, and let’s see if we can come to a fair price that’s a win-win for both parties. Our no-obligation offer means that we won’t hassle you once we make you an offer. Whether you decide to move forward or wait, the process is up to you
No, not unless there is a major repair that is uncovered during the inspection that was otherwise unknown. Our buyers have years of industry experience and know what issues to look for.
Please beware of other companies who offer to purchase your home without physically seeing it. These companies are likely to change their offer and/or pull out of the contract all together leaving you in a poor position. Similarly, read the language in the contract. Check for contingencies, verbiage that allows them to reduce the offer and or an option period.
This is why we visit every home in person when we make free cash offers on homes to give the highest and most fair offer.
While walking the property with you, our agents will ask about the condition of certain items while visually inspecting them. The more honest you can be with them the better. This will ensure that there are no ‘gotchas’ in the inspection period and that your offer stays the same.
Square One Offer home buying process is simple we look at four things when valuing your home.
Property condition
Repairs needed
Property location
Value of comparable renovated properties in the area
Great question, you’ll sign a purchase agreement, we open title at a reputable title company, received pay off’s, clear any title defects, and close once title is clear.
