Frequently Asked Questions – Fast Cash For Homes Buying
We’ve answered some of the most common questions here about our business and fast cash for homes process.
Don’t see your question below? Contact us directly!
What questions do you have about Five Boro Homes? We love hearing from our community and appreciate all the feedback. Free free to reach out to us via email or call us at (877) 418-1231
Q: Does Five Boro Homes list my house on the MLS or actually buying it?
A: We buy your property outright! We are not realtors, so we don’t spend months listing your home on any network. If you meet our buying criteria, we’ll call you, offer you a no-obligation deal, and finalize the whole process in about a week.
Q: Does Five Boro Homes provide a fair deal for my property?
A: We invest in properties that have been far below their market value because of a pending foreclosure or much-needed repairs. Our purchases rates compensate for the fact we need to renovate and resell the homes again for a profit. You have the advantage of selling your home quickly with little hassle or worry about hidden fees in paperwork. You won’t have to worry about giving us commission (since we aren’t realtors listing the house) or inspection costs. Together, we can both come out in a win-win situation and avoid the bank leaving you with nothing.
Q: How does Five Boro Homes determine the value of my property?
A: After you submit your property information, we run some calculations based on the home’s location, condition, and history. We evaluate your home using sophisticated software that analyzes a spread of market trends. If you’re curious, you could pay for a professional appraisal or get a free property estimate from websites like Redfin or Zillow. Keep in mind though, just because someone estimates it at a certain value doesn’t mean it will sell for that much. More than likely, the buyers will negotiate a lower price, or you may be forced to lower it yourself after waiting months on a real estate listing. Always make an informed decision on how you choose to sell your property.
Q: Does Five Boro Homes have any extra fees or commissions?
A: Nope, none at all! The price we offer is As IS, meaning what you see is what you get. We are not realtors trying to list and market your home, so we don’t need commission. Even if your home needs extensive repairs, we don’t pressure you to make any renovations.
Q: How is Five Boro Homes different than a traditional realtor?
A: Real estate agents work to list your property on different networks online and manage all the marketing by hosting “open houses”, posting ads, negotiating with prospective buyers, and suggesting how to renovate appliances and furniture. In exchange, the realtor team takes a percentage of the final purchase, usually around 3-6%. An experienced realtor may find you the right buyer for the perfect sale after 6-12 months. Many people in tough situations cannot afford to wait that long or to deal out a commission charge.
On the other hand, Five Boro Homes is a fast-cash property investor. We don’t bother listing the property for other people to find. Instead, we buy it out ourselves, fix it up, and resell for a profit. Since we buy houses directly, we pay for it all in a cash check. You won’t have to worry about someone’s unstable credit or your mortgage status. Our process doesn’t drag out on for months; if you accept our offer, you can have payment delivered to you within a week!
Q: Am I under any obligation to accept an offer from Five Boro Homes?
A: None whatsoever! You’re free to reject our offer at any time and keep looking for other options. We don’t pressure our clients to make any decision under any timeframe. Moving is a very personal decision. Therefore, we respect your time and special circumstances. By submitting your property information, you’re not committing to any binding contract. So, you’re free to withdraw from our process and explore realtors or other fast-cash home investors. We encourage you to make an informed choice that best fits your situation.