In today’s market being competitve isn’t easy. Buyers are struggling to out bid competitors for their dream home and Sellers are struggling to get a contingent offer accepted when they still have yet to close on their current home. With our Cash Offer program we give sellers the freedom to buy before they sell and help buyers outcompete multiple offers with cash! We’ve put together a list of Frequently Asked Questions about the Cash Offer program so you know just what to expect.
Who qualifies for the Cash Offer?
Any mortgage-eligible buyer seeking a leg up to win their dream home. First-time homebuyers utilize our Cash Offer to waive financing and appraisal contingencies and existing homeowners use our Cash Offer to win and move into their new home while taking time to prep and stage their existing property and sell it for max value (without the inconvenience of scheduling showings!).
What homes qualify for Cash Offers?
Our team purchases single family homes, townhomes, and condos for owner occupants in North Carolina, to include both existing and new construction homes. Our minimum purchase price is $150,000 and our maximum purchase price is $700,000. The home must be on 4 acres or fewer and built after 1974 or have been fully renovated. Short sales, foreclosures, manufactured and modular homes are not eligible at this time.
Do you work with buyers looking to buy investment properties?
Our team’s mission is to make homeownership achievable and will only back purchases for primary residences.
Will you purchase the buyer’s current home?
No. Our program reserves the buyer’s dream home for 180 days while the buyer takes time to sell his or her existing home. Allowing them the opportunity to make top dollar on the sell of their home.
Do buyers need to own a current home to use Cash Offers?
No. Our team works with all buyers, even those who do not yet own a home. Our Cash Offer solutions are applicable to every buyer type!
How are buyers qualified?
We use the buyer’s existing pre-approval letter from their lender of choice to determine the amount we can back them with cash. We contact the lender to confirm the details and that’s it!
How long does it take to get qualified?
It typically only takes a few hours to confirm the buyer’s pre-approval amount and establish their Buying Power (the amount you will be backed by cash).
What happens after buyers are qualified?
Once we’ve determined your Buying Power (the amount of cash our team can back you with) you’re ready to look for houses. Once you’ve found a home we will value the property and the agent will put together an all cash offer.
How do you determine how much cash to give me?
We use the buyer’s pre-approval letter from their chosen lender. We’ll contact the lender to confirm the details. There is no credit application process so this won’t affect the buyer’s credit score.