We Buy Houses As Is
One of the key points about purchasing a piece of real estate in distressed condition or if the homeowner/seller is in a distressed condition uses the term: AS-IS. We buy houses as is. What does As-Is mean? According to https://legal-dictionary.thefreedictionary.com/ the term AS-IS in real estate states:
“as is
adj. description of a condition in a sales contract in which the buyer agrees to take the property (e.g. house, horse, auto, or appliance) without the right to complain if it is faulty. However, the buyer must have had the right to reasonable inspection, so that he/she has a chance to find any obvious deficiency.
Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.”
Why would Reel Property Solutions, LLC say that we buy houses as is? Answer: MANY reasons! Here are some ways that Reel Property Solutions, LLC helps to better those around us:
- Purchasing in current condition is less work for the homeowner who may already be feeling the stresses of whatever situation they are in. For example, a homeowner may feel stressed about living in a different state from where the property is located, the costs of hiring a lawn service, paying utilities, paying property taxes, costly insurance on a vacant property, etc. The homeowner can focus their energy on other important things. There’s no need for the homeowner to be thinking about replacing rotted windows to knocking down the cobwebs- since we buy houses as is, let Reel Property Solutions, LLC do that task for you!
- We buy houses as is to renovate and improve the property AND improve the neighborhood! Imagine living along a street where the other houses have a neatly shingled roof, landscape is kept up, the trees are groomed immaculately, everything is so inviting…. Until that ONE house sticks out with the obvious repairs. YUCK! Reel Property Solutions, LLC understands the frustrations and has utilized direct marketing techniques by sending a letter indicating we buy houses as is (in one case the roof was bad) to the particular address. Sometimes the homeowner does not respond. Sometimes the homeowner will contact back and wants their information removed from the mailing list. Sometimes the homeowner is interested in selling the property. Sometime the homeowner will fix up the specific issue, which then creates a better-looking neighborhood! Reel Property Solutions, LLC is here to create more appealing neighborhoods!
- The local economy is boosted when we buy houses as is. Reel Property Solutions, LLC
utilizes a real estate agent or real estate attorney for the transaction (plus being repeat customers helps increase positive reviews), reaches out to licensed remodeling contractors and other trades (puts people to work), purchases materials for the remodel (keeps businesses thriving), and so much more. Therefore with this combination plus many other ways, the economy will benefit. - Speaking of businesses thriving, here is a closer look at exactly what that entails. Lumber, electrical, and plumbing supplies can be bought from stores such as Menards. Furniture for staging can be rented. Of course, fuel is needed which is another boost. The local specialty stores get a visit, too. There are more types of places than can be listed. The economy benefits when we buy houses as is!
- Reel Property Solutions, LLC purchases distressed properties, hires professionals to renovate then resells to benefit the next buyer. There are many buyers who want a house to be move-in ready. We buy houses as is then ponder what would create a comfortable atmosphere for the next buyer. A house with mold, rotted windows, outdated electrical, etc. is not move in ready. Also, mo traditional mortgage will lend with these factors. Reel Property Solutions, LLC will purchase with cash to take on this type of renovation.
The most known way of buying or selling real estate is through the Multiple Listing Services, better known as the MLS. This is utilized by real estate agents, realtors, and brokers to see who is representing what properties for the seller and what is available for the buyer. When a distressed property is on the MLS, Reel Property Solutions, LLC has learned these types of properties get sold fast. Most times, the list price is above the budget to accommodate the renovation budget and a reasonable resell price. Therefore, most of the time we buy houses as is through a private, off market sale. Either way, the benefits to anyone involved is Reel Property Solutions, LLC has been taught through Fortune Builders the strategies to execute a real estate transaction. Although the MLS properties are more spendy, the same principle applies in determining the overall budget. When negotiating a price with the seller of an off-market property, Reel Property Solutions, LLC is determined to make sure the best, top dollar amount is paid to have a WIN-WIN situation for all involved!
If you have questions about how we buy houses as is, have a property to be looked at, or just want to talk about options, please reach out to Reel Property Solutions, LLC at info@reelpropertysolutionsllc.com or call 507-218-8788. Catch a winner!
