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Meet The Buyer, Agent, and Investor FAQs

Click on a Question to see the answer

  1. You aren’t listed on title and you aren’t a real estate agent. Do you have the authority to sell this home? (Details at 0:55 in video)
  2. If you aren’t currently on title, will I get clear title when I buy?
    How is title transferred? (Details at 3:12 in video)
  3. I’m a real estate agent, how much commission do you pay and how do I get paid? (Details at 4:56 in video)
  4. I’m a wholesaler. How do I market, show, and get paid on your homes? (Details at 7:00 in video)
  5. Do you joint venture (JV) on your homes? (Details at 11:56 in video)
  6. Can I send you an offer on the board contract? (Details at 14:19 in video)
  7. Can I close with my closing company?
    Will you do a split settlement with my closing company involved? (Details at 16:12 in video)
  8. Will you consider an offer with an inspection contingency?
    What about inspections for septic, foundation, survey, or water issues? (Details at 18:50 in video)
  9. Will you consider a financed offer?
    Will you consider an offer with a financing contingency?
    Will the house pass a FHA or VA home inspection? (Details at 21:34 in video)
  10. How much earnest money deposit (EMD) do you look for in your contracts?
    Is the earnest money deposit (EMD) non-refundable?
    Who holds the earnest money deposit (EMD)? (Details at 26:02 in video)
  11. The property is in an HOA/Condo. Will I get docs? (Details at 29:14 in video)
  12. Will the home be cleared of “stuff” and in “broom clean” when I get it? (Details at 31:55 in video)
  13. It says the home is currently occupied. Will it be vacant by closing? (Details at 34:07 in video)
  14. Do you have a preferred closing date? (Details at 36:10 in video)
  15. When do you review offers?
    If I give you a full price offer before then, will you ratify it immediately? (Details at 37:04 in video)
  16. Before I go see it, would you take ‘xxx’ for the home?
    What’s the lowest you’d take for the home? (Details at 40:10 in video)
  17. Why isn’t the home listed?
    Why don’t you just list it?
    I’m an agent, can I list your property in MLS for you for a reduced commission or a “pay for fee” service? (Details at 43:00 in video)
  18. Can I just stop by and see the property?
    Can I see it before everyone else? (Details at 46:14 in video)
  19. Do you have a list of properties I can check out? (Details at 49:23 in video)
  20. Can I get notified of homes before you release them to your list? (Details at 51:06 in video)

You aren’t listed on title and you aren’t a real estate agent. Do you have the authority to sell the home?

Yes. Either one of two things has happened: 1. We’ve purchased the property so recently that it hasn’t shown up in tax records, MRIS, or MLS systems, or 2. We currently have the property under contract to purchase, which gives us an “equitable interest” in the property and the right to try to resell it while we have it under contract. Instead of waiting until we take title to the property to close, we condense the time frame in marketing the property while we still have it under contract and immediately resell once we purchased it. So there are two transactions involved and we will hold title for a few hours until we sell the home to you. You will get a “clear title” upon purchasing. And, yes, this is “legal” to try to resell property we currently do not have title for while we have a contract on the home with the title holder. We can get you in touch with a local attorney that can verify it is legal and you will get “clear title” when you purchase.

If you aren’t currently on the title, will I get clear title when I buy? How is title transferred?

Yes, you will get clear title when you purchase, even if we are not the current title holder for the property. Instead of waiting until we take title to the property to close, we condense the time frame in marketing the property while we still have it under contract and immediately resell once we purchased it. So there are two transactions involved and we will hold title for a few hours until we sell the home to you. You will get a “clear title” upon purchasing. And, yes, this is “legal” to try to resell property we currently do not have title for while we have a contract on the home with the title holder. We can get you in touch with a local attorney that can verify it is legal and you will get “clear title” when you purchase.

I’m a real estate agent, how much commission do you pay and how do I get paid?

Write in contract that you whatever amount you want to get paid. We are offering up to a 3% commission, but will be accepting the highest “net” offer I receive (offer price – commissions) and we have a lot of investors on my list that do not use agents. Side note: Always sign a buyer broker agreement with your purchaser to your protect interest because we can’t “police” investors from going around you.

I’m a wholesaler. How do I market, show, and get paid on your homes?

Write in contract that you want to get paid XXX amount for the a “marketing fee”. If you are concerned about with “selling real estate without a license”, we are willing to sign an option agreement at my offer price minus your marketing fee, but we will do so only at the point of final negotiations. You can market the property on your own website, but you NOT market the property at a higher sales price. Why not? Potential buyers will see multiple prices and be concerned its a scam and stay away from the house. We have built in 3% marketing fee built into our sales price to pay you as a wholesaler or agent. How do I show the house? If the home is shown by appoint, show up with your potential buyers. If its shown my lockbox, send them through. How do you write a contract? Have your buyer write a contract with you with THEM as the purchaser and you getting paid a “marketing fee”.

Do you joint ventures on homes you advertise?

We do NOT fund the properties we advertise. We are looking for a cash purchaser. But we do a 50/50 JV with investors that can fund 100% of the deal and want guidance or coaching on how to the rehab process and want access to our general contractors. Make sure to email us that you want to fund and JV on the property if that is what you’d like to do.

Can I send you an offer on the board contract?

No. There are ten million “outs” in the board contract. We have a specific contract we use.

Can I close with my closing company? Will you do a split settlement with my closing company involved?

No. Why? We purchase and sell properties several different ways and we want the transaction to go as smoothly as possible. Using any other title company, both in traditional and split settlements, can get complicated. We like things simple and we know our closing company will do a good job. Title will be transferred like it would be on any other transaction. Note: Unlike agents that have arrangements with closing companies that get “kickbacks” or paid to send you to their title company, we do NOT get paid by the closing company we use. We just know they do a good job!

Will you consider an offer with an inspection contingency?

What about inspections for septic, foundation, survey, or water issues?

No we don’t take offers with inspection contingencies. What if there is a big issue like septic, foundation, or water issue? If we feel its a major issue, we probably have already done the same due diligence using a local professional and will pass that information on to you in the notes section of the listing.

Will you consider a financed offer?

Yes, we will accept financed offers. Hard money and private money are absolutely no problem. Using conventional financing will be considered on a “house by houses basis”. FHA and VA financing will vary according to their rules, which change from year to year. The biggest issue is the financing requires the seller to sign something saying that the earnest money deposit is REFUNDABLE, then we can NOT sign it.

Will you consider an offer with a financing contingency?

We will NOT consider offers with a financing contingency. Earnest money deposit is always non-refundable, so you need to be confident in your financing before presenting an offer.

Will the home pass FHA or VA home inspection?

It depends on the home. We suggest you view the property to make that determination

How much earnest money deposit (EMD) do you look for in your contracts?

No set amount. As with most listed properties, it will depend on the asking price, strength of offer, and if I’ve worked with you before.

Is the earnest money deposit (EMD) non-refundable?

No.

Who holds the earnest money deposit (EMD)?

Whoever you’d like. We must receive confirmation that the EMD has been deposited with a trustworthy source (i.e. real estate brokerage or closing company).

The property is in an HOA/Condo. Will I get docs?

No. Properties we wholesale have a short term time frame with an average of 21 days to close. It usually takes 21 days to get condo docs. The closing company will ensure that hoa/condo dues are up to date. You can also do your own due diligence regarding any other issues you may be concerned with by contacting the HOA/condo management company directly

Will the home be cleared of “stuff” and in “broom clean” when I get it?

No. The home will be delivered in as-is condition. If the home is currently occupied by a “hoarder” and you don’t know how much “stuff” will be removed prior to you purchasing it… neither will we!! But we have crews that can work with you to remove it after closing (within reason).

It says the home us currently occupied. Will it be vacant by closing?

Yes. Unless the listing states that you will be inheriting the tenant and a lease until ‘XXX’, then the home will be delivered vacant upon closing. If the property is currently a rental in Washington DC, proper notice has been given to the tenant and the housing authority notifying them of the sale. The closing company will also verify this for you.

Do you have a preferred closing date?

No. 90% of our transactions typically close within 2-3 weeks from contract ratification. If we need to close on a particular date, we will tell you during final negotiations.

When will you review offers? If I give you a full price offer before then, will you ratify it immediately?

Typically Sunday evening. We have a system where we release homes on Tuesday through Thursday, show the home on Saturday, and review offers on Sunday evening. I want to encourage you to place your offer immediately so we can review it and inform you of any issues with your offer (i.e. lack of proof of funds, financing questions, closing date). NO offers, even full price offers, will be ratified prior to Sunday evening.

Before I go see it would you take (xxx) for the home? What’s the lowest you’d take for the home?

We price our homes to sell. The majority of the homes sell on the weekend somewhere close to listing price. Please don’t bother sending an email asking if we will take a significantly lower offer. Our homes are typically priced lower than ones you’ll find in MLS. Sending in a super low email offer shows you are unprofessional. A professional takes the time to send in a written offer on a contract. Also, you must see the house prior to making an offer. We don’t accept offers unless we know you, or someone on your team has seen the home. We don’t accept offers with contingencies, so we recommend you see the house and do your due diligence prior to seeing the home.

Why isn’t this property listed in MLS? Why don’t you just list its? I’m an agent, can I list your property in MLS for you for a reduced commission or a “pay for fee” service?”

No. The board contract has many too many “holes” in it. Our transactions are unique and require special attention from the closing company. Most properties that are on MLS are sold to buyers that are financing that comes with uncertainty. Overall, there is too much uncertainty and too many issues out of our control when dealing with the board contract and listing a property. The importance of selling our homes does not revolve around getting the highest price, its in the confidence of getting to closing, which can’t happen when its listed.

Can I just stop by and see the property? Can I see it before everyone else?

If the home in on lockbox, you’ll get the combo as soon as you email us you want to see it. If you get an email notifying you of a showing time, it’s because the home is occupied. We set up ONE showing time to avoid disturbing/annoying the occupants . NOTE: If you do knock on the door prior to showing time, the occupants are instructed to take your name and number. They will relay that information to us and you will be PERMANENTLY removed from our email list.

Do you have a list of property I can check out?

Our properties are listing on https://www.4brothersbuyhouses.com/renovated-houses-listing/. But 95% of our homes sell on the first weekend, so realistically there is no “list” because the properties sell so quickly.

Can I get notified of homes before you release them to your list?

No. If you’re getting my emails, you are already on my list and getting notified before we advertise to the public via cragislist, signs, and social media