If you’ve received an offer on your property, first of all….Congratulations! Not every property qualifies for an offer from Mr.Buyer, so you’re already ahead of the rest!
Now you may have some questions on the process, the offer, or making a decision between more than one offer. In some cases your property may qualify for multiple offers.
Check out our Frequently Asked Questions below and our Offer comparison chart below:
There is a lot of information about our company on our website www.MrBuyer.com, including video testimonials, about us etc. We have an average of 5-Star ranking on Google you can find online, and a 5 Star rating on BBB for Florida where we are headquartered. We buy and sell real estate as a direct buyer and direct seller Nationwide! No middlemen means better rates for buyers and sellers!
We are a Florida based Real Estate Investment company with branches in key states including Oregon, Florida and California. We buy nationally.
Because we’re honest and we will do what we say we’re going to do. We’ve done hundreds of transactions and can get the job done. You can check our reviews online at www.mrbuyer.com/reviews
No, we are private investors, and you will pay no fees or commissions. Our service is free. You can learn more about us here on our website.
Our process is a simple three steps
Step 1: We have a short consult call with you to evaluate the property over the phone.
Step 2: We come to an agreement on price and terms
Step 3: We immediately do a quick due diligence check and if all checks out, we close quickly through a reputable title company/closing attorney and they get you your check!
It’s the norm that due diligence is done after a purchase agreement is signed because there is oftentimes extensive time and cost to inspect the property which is a cost and risk for the buyer. It doesn’t make sense to spend this amount of money and time until the seller has established, they are ready, willing, and able to sell at terms agreeable to both parties.
We typically use this Purchase Agreement nationwide, reason being is because we buy nationwide and there are numerous jurisdictions, requirements, etc from each local, would be very costly and time-consuming to generate, review, and modify agreements in different locations if that makes sense. It’s kind of like a CarMax, or Carvana where you guys buy/sell a car, they have a standardized process that is streamlined and works in every jurisdiction that is both simple yet sufficient for all parties involved if that makes sense?
We will pay all closing costs associated with the transaction. Working with us will not cost you one dime out of pocket, as we will pay for everything. Unlike traditional real estate agents we do not charge you anything and there are no fees or commissions associated with the transaction. We cover closing costs and all fees normally associated with a real estate purchase. You keep 100% of the offer we make on your home.
We have a team dedicated to analyzing market conditions, what’s happening in the area and past sales etc. As you know, in any area one street can differ from a street next door. It’s a lot of work and it’s not always perfect. Sometimes we get it right, sometimes we don’t.
Everybody’s situation is different, that’s why we offer multiple offers to better suite your needs, only you and your family/situation can determine what’s best. Owner Financing allows us to pay you the highest possible sales price for your property. Cash Offer is something you may need quick money for something now. You decide what’s best.
Because Mr.Buyer buys so many properties all over the country they have streamlined this possess to be efficient. We put substantial costs into due diligence all at a cost and risk completely on us–never any out-of-pocket cost to the sellers. Since any E.M.D. would be fully refundable if the property didn’t qualify for our purchase so a large E.M.D. is irrelevant to the seller. Mr.Buyer places a token EMD of $100, where on larger transactions over $1 Mil we may have more depending on the property. Additionally, Purchase Agreements, especially regarding real estate, are only valid in they are in writing and “consideration” is exchanged for the option. “Consideration is what you give the owner in order to hold this option. In the veast majority of cases, that is money. Sometimes people offer something else in lieu of money as consideration for a contract, including all kinds of goods and services. But SOMETHING has to be given to the owner in order to create a binding contract. Binding contacts cannot exist without at least three parts: An Offer, acceptance, of that offer, and consideration.
Is there someone in your family that you love very much that you would like this to pass on the cash flow to when God calls you home?
Historically we’ve found that sellers aren’t typically interested in an interest rate and more interested in the highest possible sales price so we’ve calculated our terms offers based on the highest possible price we could pay you overcompensating for any interest rate. Additionally, you’d have to pay taxes on any interest that you would have collected. This method is the simplest, most profitable solution for all parties.
Because we buy hundreds of properties around the country in many different shapes and sizes, we have funding partners and different entities that we put each property in. For example some properties we may create a new corporation with our funding partners, some we will place into a Land Trust, among other reasons for asset protection, Joint Ventures, Partnerships, and more. Many reasons but end of the day from the seller’s prospective it makes no difference to you.
Yes! And not only will we buy your house, but we can help you avoid any damage to your credit. You can get more information by calling us directly at 844-5-SELL-IT
In real estate, “landlocked” refers to a property that has no direct access to a public street, so the only way on or off the property is to cross land owned by someone else. Usually, a landlocked property gains street access through a legal permission called an easement. Why this matters?
A short sale happens when a homeowner sells their house or other piece of real estate for less than they owe on their mortgage to avoid foreclosure. A short sale must be approved by the lender that holds the mortgage.
For a sale to be considered a short sale, these two things must be true:
A short sale is usually a homeowner’s last-ditch effort to avoid foreclosure. But since lenders aren’t in the business of losing money, they normally aren’t in a hurry to get rid of a property at a loss.
A lender will take their time to recover as much of their loss as they can. Here’s the thing: Just because a property is listed as a short sale does not mean the lender has to accept your offer, even if the seller accepts it.
This is what makes the short sale process so tricky.
Short sales and foreclosures are both painful ways to get out of a home mortgage. But a short sale might be a little less painful.
In a short sale, a homeowner (who is usually behind on their payments) lists their home for sale for less than they owe on their mortgage.
Potential buyers and their agents deal with the seller’s real estate agent during the short sale process, but all offers and other terms must be approved by the lender. The short sale cannot happen unless the lender approves it.
Because everything is dependent on the lender, the short sale process can be lengthy and unpredictable—even if the homeowner and the potential buyer agree on terms. Short sales often fall through because the lender doesn’t approve the terms—or the buyer finds another home while waiting to hear back from the lender.
On the other hand, a foreclosure is a legal process a lender initiates to take ownership of the home after the buyer has stopped making payments for at least several months.
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Most foreclosed homes have already been abandoned, but if the homeowners are still living in the house, the lender will evict them. The lender then sells the home through an auction or a real estate agent to try to recover as much of the loan amount as possible.
The foreclosure process typically takes less time than a short sale because the lender wants to liquidate the home (aka, turn it into cash) as quickly as possible.
For homeowners, a short sale is typically preferable to a foreclosure for two reasons. First, a short sale is voluntary (while a foreclosure is forced). Secondly, after a foreclosure, most people are required to wait seven years before getting another mortgage loan (while a short sale may cause you to wait for at least two years).1
Most lenders would prefer a short sale to a foreclosure because it allows them to recoup as much of the original loan as possible without a costly legal process. In fact, in most cases a lender will only pursue a foreclosure after attempting to sell the home through a short sale.
But sometimes, a lender thinks it can get more of its money back by foreclosing on a home, so it’ll reject the possibility of a short sale.
If you’re wondering what happens as part of the short sale process, these are the standard steps:
Step 1: The homeowner starts by talking to their lender and a real estate agent about selling their house as a short sale. At this point, they may submit a short sale package to their lender. This is a set of documents—like W-2s and bank statements—that proves they’re no longer capable of making their mortgage payments and have no assets that would allow them to catch up on payments.
Step 2: The homeowner works with a real estate agent to list the property. They’ll execute a sales contract for the purchase of the property once a buyer is interested. But the lender must approve the contract, and it’s not final until then—even if both the seller and the buyer agree on the terms.
Step 3: The lender reviews the contract and could respond in a variety of ways. They could choose not to respond at all, they could reject the offer, they could reject the offer but outline which terms they would agree to, or they just might approve the offer.
Step 4: When the lender’s response is presented to the potential buyer, the contract will either stay the same or the buyer will choose to accept or reject the lender’s terms. So, at this point, the ball is in the buyer’s court.
Step 5: If the contract is approved, the short sale property closes, and ownership of the home is transferred to the new buyer. The lender receives all proceeds from the sale of the property and typically pays commissions and other sellers closing costs.
Most of the time, the lender forgives the loan balance as part of the short sell agreement. But it could pursue a deficiency judgment against the borrower. This means the lender takes legal action to have the borrower repay the remainder of their mortgage that wasn’t covered by the sale of the house.
There is no one that can “guarantee” a foreclosure sale to be stopped, however by having and showing a signed and executed /accepted Purchase & Sales Agreement with a ready willing and able Buyer (us for example) that can help cancel the pending sale to work towards a closing. Reason being a foreclosure means the lender/debtor will potentially get the property back after a costly foreclosure process and have to sell it later.
If there is a pending sale now and they can get paid what they owe, they would often try to work with this transaction.
We have many strategies for successfully completing a property purchase in foreclosure. One is to offer below our target offer price to negotiate our final price, and also anticipate repairs and issues with the property, or final acceptance date in a declining market to be in line with each other.
This is a very common question. You should still own your home/property/real estate up until a Foreclosure Auction date has arrived and the Auction has completed. The lender does this legal process to transfer ownership to them in order to pay off the existing past due and total balance owed. The Real Estate is the collateral that they are in the process of collecting. You should be able to sell the property to a third party before then but keep in mind time is short and to move quickly. With a good strong buyer (like Mr.Buyer ™) you can show the lender /Foreclosing Attorney the Purchase and Sales Agreement to help stop the sale. Keep in mind if no payments are received after that they can restart the process. Timing is crucial.
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