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MAKING A PURCHASE OFFER
TO BUY A FIXER UPPER HOME

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If You Have Ever Considered Owning An Investment Property Then Fixer Uppers Are Some Of Lowest Priced Homes Available. Of Course, There Is A Reason Why. The First Is The Obvious. The House Needs Repairs. Or, It Is Located In Areas That May Not Be Consider The Most Desirable. Or Both.

This Is Why The Price Has Been Discounted. So You Will Have To Check The House Out To Determine If The Work Is Something That You, Or Someone You Trust, Can Handle. And Understand That These Houses Are Perfect For Rental Homes. So While You May Never Considered Living There Yourself These Are Exactly What Many Tenants Are Looking For. They Will Always Be In Demand!

WHAT YOU NEED TO KNOW

 

PROOF OF ABILITY TO PURCHASE The very first thing that a Buyer must do is show the Seller that they are serious. Provide evidence that you have the required money. You have the ability to purchase. And you are not wasting their time. The Seller has already established that they actually have the house for sale. Now, the Buyer needs to establish that they actually have the ability to buy it! Every seller will require proof that you have the down payment. This can be a bank statement, copy of money order, etc. Or a simple letter from the bank or credit union. No personal checks. This will be required BEFORE they allow us to see inside the house. They want to know if a deal is even possible. And, it is amazing how much more willing Sellers are to deal once they see the money. Plus once you see the home, if you should decide against it, then we will already have the POF for the next home you look at.

TIP: Only let them see what they need to see! For Example, If the asking price is $58,000. And you want to offer $55,000. Do not send them a bank statement showing $65,000 in your account. Just get a letter from the bank stating $45,000 is currently available. If you do use a bank statement then take a black marker and cross out any sensitive information like account numbers, ssn, etc. You can scan & email. Or fax to 757-299-9900. The Purchase Process Does Not Move Forward Until You Send The Proof Of Funds.
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CLOSING COSTS There is more required to buy a home than just the price of the home! We understand that many people viewing this page have previously purchased a home. We also know there will be many first time home buyers. However, both frequently forget to include Closing Costs in the calculations for how much money you will need in total. This is for the Lawyers to do everything required to transfer the ownership of the home to you. This includes: a title search to make sure the Sellers really are the true owners of the home. Make sure there no liens against the house, back taxes, city fees, etc. Title insurance to protect your ownership rights. There is state, and city, sales taxes. Entering your name in the court records as the new owner, and more. It includes a $495 Buyer Representation Fee. The total estimates for Closing Costs will be approximately $1800 to $2000 for everything. You should include this, together with your down payment, to estimate the total amount of money that you will need to buy the home.
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VIEWING THE HOME Once we meet to see inside a home, it may not be possible to quickly go back. Anyone that you would like to see it should be there at that time. We should not schedule an appointment until everyone can be available to see the home. Keep in mind that the prices have been significantly reduced because the home is being sold in it’s “As Is” condition. Therefore, you want to be comfortable that you, or someone you know, can handle whatever repairs may be needed. You should have someone there who can check the home out for you.
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DEPOSIT When ready to submit an official Purchase Offer to buy the home, a Deposit will be required at that time. It can not be a personal check. The amount can vary depending on who is selling the home. With most individual Sellers it can be $500. Most Bank Foreclosure will require $1000. And there are some Government Homes that require 10% of what ever your offer amount is. The Deposit is credited towards the Purchase Price at Closing.

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PLEASE UNDERSTAND THAT THESE ARE NOT OUR RULES! THIS IS WHAT’S REQUIRED TO BUY A HOME. YOU CAN NOT BUY A HOME THROUGH TALK. YOU HAVE TO MAKE A OFFER IN WRITING. YOU HAVE TO SHOW PROOF THAT YOU HAVE THE MONEY. AND YOU HAVE TO MAKE A DEPOSIT. IF YOU ARE NOT READY TO DO THIS, THEN YOU ARE NOT READY TO BUY A HOME.

BUT, IF YOU HAVE EVER THOUGHT ABOUT OWNING AN INVESTMENT HOME THEN FIXER UPPERS ARE THE CHEAPEST PRICED HOMES THAT ARE AVAILABLE FOR SALE.

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HAMPTON ROADS CASH FOR HOMES LLC
4445 Corporation Lane #264 Va Beach, VA 23462
Phone: 757-838-4663 Fax: 757-299-9900
WE HELP INVESTORS FIND CASH HOME DEALS!