Step 2: We send you an offer
After we have received your information we will do some initial research and send you an offer. If you agree to this offer we will prepare a Purchase and Sale agreement that we send over to you for signing. Usually we will buy your property directly but sometimes we do so called assignment deals, meaning that we find another cash buyer on your behalf. We are compensated by the end buyer, so this does not cost anything on your end.
Step 3: We close the deal
When we have received the signed agreement back from you, we will either send it to a reputable title company that handles the closing, or close the deal “in house” through a notary public. When using a title company the closing process may take a little longer since we cannot directly affect it. It is also much more expensive, so if the deal is very small we will not use one.
Step 4: You get paid!
When all needed documents are signed and notarized, you will receive the amount that we agreed upon. So, how exactly does the money transaction work? Basically, there are three possible ways:
- If we use a title company to close the deal, they will open an escrow account into which we transfer the money. When everything is signed, they will make the payment to you.
- If we close the deal "in house", we can use an online escrow service called Safefunds. They are quite simple to use and all you need to do is make a free user account at their website (we will instruct you on how to do this). We will open an escrow account together, into which our company transfers the money. The money is then locked in this account until we receive the signed papers from you, whereupon Safefunds releases it to you.
- We may also use a mobile notary that meets up with you and hands over the check as soon as you have signed the paperwork.