Questions and Answers

Question: What is subject to financing?

Answer: Subject to means that the loan stays in the sellers name, but the property title transfers to the new buyer. The new buyer must pay the note every month.

Question: My loan has a due on sale clause. Isn't it against the law to sell the home without paying off the loan?

Answer: Definitely not. The loan states that the lender has the right to call the loan due. He does not have the obligation to do so. What bank would call a loan due when the payments are being made on time every time and fulfilling the obligation to the bank? The banks don't want your property back. As long as the loan is kept current, the banks are happy!

Question: How will letting you buy the property subject to my loan affect my credit rating?

Answer: Your loan will continue to show up on your credit report. When the payment is made on time each month, your credit improves. If you were missing payments before, then your credit history on this loan will improve because the new buyer is paying on time each month. In fact, if your credit rating has dropped due to past late payments, this way improves your credit score since on time payments will show up on your report.

Question: Won't I make more money if I use a Realtor to market my property?

Answer: Probably not. Using an agent will give your property some exposure and an MLS listing, but we give your property what we feel is great exposure! We market your home in several ways, and area traditional agents don’t. Remember, there are expenses when using an agent or broker. One of the biggest expenses will be the 6% to 7% commission that you will have to pay your agent. Another is the wait time--normally 6 to 11 months or more of paying electric bills, gas bills, association fees, costs for cutting the grass, costs for repairs to make the house look just right, painting, termite, and other inspection costs, and several other costs.

Question: Besides commission expense, are there any other disadvantages to marketing my property with an agent?

Answer: If you are looking for top dollar, you will have to make your home available to buyers at their convenience. Sometimes many –many---hours of the day and night, all week and on weekends, your house will be open for view. You will need to have the house neat and clean at all times. It is up to you as to whether it is worth it. The second big issue is time. Most agents want a one year or at least six month contract. We rarely take 90 days to sell your home if we are marketing it. Remember, we want to buy your house so we are going to make you an offer to buy it today!

Question: What about additional expenses?

Answer: Expenses can be considerable. Your agent will probably suggest you spruce up the home with a new coat of paint. Most “stuff” will need to be removed. Carpets may need to be professionally cleaned or even replaced. If these things need doing, and they are not done, you can't expect top dollar for your home or for it to even sell the traditional way in this market. Your house must stand out.

Question: If I don't use an agent, how do I know you are offering me a fair price?

Answer: I will show you how I arrived at the purchase price. I will show you based on market trends, what I think you could expect to sell your home for in "as is" condition, and how long it is going to take to sell it.  My offer will be based on its “as is” value, understanding the cost of any repairs you would normally be required to do minus the cost of reselling the property minus a reasonable profit for myself. Remember, it is your decision to sell, and I won't buy your home if I do not think I can sell it in a reasonable time to someone who really needs a home and can afford your home at your price. We do not charge a commission. You pay no fees, no 7%. Let's get that right--YOU PAY NO FEES TO US.

If the convenience of a sale timed to your needs is important, we usually can come to an agreement.  ***I won't do a deal if we both don’t agree and we both win. ***There is no pressure to sell to us and/or to have us market your house for sale.

 Question: Can I sell it to you and rent it back?

Answer: Sometimes we can do this if you want to do it this way. Maybe you are moving to a new area, but you're not sure just when. There are reasons you might need to sell now, but not want to move yet.

Sell to me with a rent back provision.  Just let me know how long you need to stay. We'll set aside a portion of your equity to apply to future rent payments. Any unused equity will be paid when you finally vacate. This way you know your home is sold and you have a place to live while getting your life situated.

Question: What happens if you can’t sell my house?

Answer: If I can’t sell it, I won’t buy it. We buy a lot of homes--most we sell, some we keep, and some we lease out. We have had very few--only one in my recent memory--that GrandDad could not move. I still have that house, and it is my issue, not yours. I’m renting it out until the price comes up enough so I can move it...guess I paid too much. No one is perfect except our savior. We try to help people, and we will try to help you. We will show you what we do and how we intend to move your home if you give me a chance. No cost to you, no obligation, no pitches or hard sell stuff, no more stress, no more month after month wondering what to do next--just a possible solution to your needs!

Question: What is Owner Financing?

Answer: Some people want consistent payments every month or in a set time-frame. Some people can sell GrandDad their house and do owner financing to someone else. This means, the owner or you gets to be the bank instead of paying the bank.  Could you use an extra check each month? Could you wait for your equity or take monthly set payments? This helps a lot of people. Several years ago, many loans were owner financed to get a higher price and potentially pay fewer taxes.      

Question: Can I get a warranty on the house while selling it?  

Answer:   Yes! We can put a warranty on your home to cover it for the short time it takes us to sell it, if you want. We can even cover the new buyer for a year after purchase, making your home easier to sell in the market today!  

Question: What if your cash offer is lower than we can accept?  

Answer:  That is OK, it is your decision. No pressure or stress. We can market your home sale for a higher price. We have been in business for over 8 years and help people all over town sell homes. We have over 100 places to market your home for sale. There is NO COST TO YOU TO USE OUR SERVICES. We move houses very quickly. We have a great reputation. I have contacts all over the state, an investor list, and a buyers list with over 350 people right now waiting to buy homes from us!

Question: What is a net sheet the agent told me about?

Answer: The net sheet all agents are required to show you is a sheet that shows how much you will net or receive after the sale of your home. If you sell your home for a $200,000 sales price, you will walk away with about 80% after everything or about $160,000. That usually means you would have saved money by selling to us or letting us market your home for you.

Question: Where can I find out more about GrandDad and your process and history?

Answer:  Great question! You can see us all over the web www.sellorbuyhouses.com ,www.gadiscountproperties.com, http://www.aohomesolutions.com/, www.markneighbor.com, read about us on Facebook, Twitter, and many other locations.


Hope this helps you!