Common Questions

Question: What do you mean by buying a house by taking over the mortgage payments?
Answer: A lot of people sell their houses to me by having me take over the mortgage payments. As you can see from line 203 of the closing settlement statement from a house I bought, this is a completely legal real estate transaction–it’s just not as common as some of the other ways of selling a house:


(Click to enlarge) Just so you know, a closing settlement statement is the paperwork that is done at closing when you sell your house. It shows all the details about how you sell your house.

Selling your house to me by having me take over the existing loan is credible, legal, and can be highly beneficial to you. One reason it can benefit you is that since you are giving me more flexible terms and financing, I am willing to pay more for your home than I would otherwise. With cash, I generally buy at a deep discount. However, when I buy houses by taking over the mortgage payment, I’m able to pay more because I don’t have to come out of pocket with as much cash to buy your house.

While selling me your house this way is not as common as other ways of selling a home, it is definitely legal and approved by the Federal Government. As you can see on any Settlement Statement, buying a home this way is approved by the Federal Government’s US Department of Housing and Urban Development. You won’t find “foreclosure” or “short sale” on this federal settlement statement. Foreclosure and short sale didn’t even make it to the form.

The best part is that your mortgage doesn’t even have to be assumable. Regardless of the type of mortgage–assumable, non-assumable, convential, FHA, VA–we have approaches that work for all transactions. In addition, if you want to qualify to buy another house, no problem. After we take over your mortgage payments, we can show you how to qualify for a mortgage so you can buy another home. Simply call us and we’ll show you how.

Question: Are you a realtor?
Answer: We are not realtors, just private individuals like yourself. This means no hassles in dealing with a 3rd party and no waiting month after month for your home to sell while people trample all over your home every time the realtor shows it.

Question: What does your company do?
Answer: We’re a local real estate company that specializes in buying homes quickly. Whether you need to sell quickly or need extra time to take care of things, we are flexible and work around your time frame.

Question: How soon can you close?
Answer: We are generally able to close in a couple of days. Often people need a little more time to move out and get situated and we are happy to work with your situation. The average close time on a house is about seven to nine days.

Question: How do you determine how much to pay for my home?
Answer: We realize that every home and every situation is unique. In determining our offer, we consider the condition of the home, the area the home is in, costs of possible repairs, and market conditions.

How do you make your offers?
Answer: The two most popular ways of buying a home are 1) with a cash offer, and 2) taking over loan payments. When we make offers, we usually present several options, and let you choose the one that best suits your needs. We understand that selling a home can be a nightmare and we have the expertise to help you. Regardless of the situation you are in, we can provide an option that fits your needs!

Question: How does your cash offer work?
Answer: Well, it’s fairly simple. I make you a cash offer and we close in 9 days or less. In many circumstances, we pay off your mortgage completely and then pay you the remainder of the money in cash.

Question: Do you only buy homes?
Answer: No. We buy homes, condos, apartments, mobile homes, land, etc.

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