Frequently Asked Questions
We’re an open book at HomeBuyers of America. If you have questions about how we buy houses in Rhode Island, we’ll be happy to answer them! See a few of the frequently asked questions below and if you want more information, please get in touch with us in person!
1. How is using HomeBuyers of America different from selling my house with the help of a real estate agent?
In the traditional real estate model, a real estate agent oversees the sale of your home, utilizing tools like the Multiple Listing Service (MLS) to showcase your property to a broad audience of potential buyers. This process often includes multiple property viewings, extending over weeks or even months until a suitable buyer is found. Following a successful sale, you typically encounter various expenses, such as title fees, closing costs, and the agent’s commission.
On the other hand, as investors, we propose a swift cash acquisition of your property or identify alternative buyers capable of the same. After property renovations, we reintroduce it to the market and sell it to generate a profit, constituting our source of revenue. When you opt to sell your house to us, we handle the costs related to inspections and closing, and you are not obligated to pay any commissions. We provide a cash payment, eliminating the need for a real estate agent and the additional expenses associated with their services. This results in a quicker sale, reduces the complexities involved, and offers a more streamlined experience.
2. How do I know this is my best course of action?
The traditional real estate selling process can be prolonged and intricate, involving inspections, necessary repairs, and accommodating a continuous flow of potential buyers visiting your property. These elements may impact the initial asking price, subject to negotiations over repair expenses between you and the potential buyer.
In contrast, we conduct a thorough assessment of your situation and shoulder all forthcoming costs related to the sale of your property. This approach allows us to present you with a fair proposal, swiftly relieving you of the property.
Even if your property is in excellent condition, a quick sale can still be attractive. Following our comprehensive evaluation of your real estate, we can offer personalized advice on whether involving a traditional real estate agent would be more advantageous for your specific circumstances.
3. Who are you?
We are HomeBuyers of America, a well-established presence in the real estate sector with a extensive track record of aiding numerous sellers. Acknowledging that selling a home is a significant decision, we recognize that each individual’s circumstances are unique. Through our collaboration with a network of affiliated investors, we are steadfast in our dedication to identifying the best solution and presenting an offer tailored precisely to your needs.
At the heart of our principles lies transparency. Our team and I are dedicated to offering honest assessments of your property, ready to guide you towards a more suitable alternative if our offer doesn’t align with your best interests. Rest assured, there are no obligatory commitments to avail of our services, and we do not acquire every property presented by potential sellers. We encourage you to explore Our Company page for deeper insights into our operations. We take pride in our steadfast reliability, our dedication to transparent and personable communication, and the wealth of expertise we bring to the table.
4. How does it work?
Within our company, we simplify the property selling process by eliminating intermediaries like real estate agents, lenders, appraisers, and inspectors. Our expertise lies in facilitating quick and hassle-free cash purchases of various properties, including houses, condos, apartments, and land, irrespective of their condition or location. Our approach follows a clear path. We initiate with a comprehensive market analysis (CMA) to determine your property’s value after modern HGTV-standard renovations. Following this, we schedule a property inspection to assess necessary repairs and establish the costs associated with buying and selling your property.
To sustain our business, we include a reasonable profit margin. However, our commitment is to keep it at a minimum level, ensuring a favorable deal for all parties involved. Instead of prioritizing substantial profits at the expense of homeowners, our focus is on assisting a broader range of individuals with modest margins. Transparency is foundational to our approach, and we provide a detailed transaction breakdown.
By opting for our services, you can avoid expenses, the hassle of property showings, open houses, multiple inspections, and the extended listings typically associated with traditional real estate agents. Explore our How It Works page for further inquiries or a deeper understanding of our all-cash, as-is transactions. Feel free to call or text us at (401) 724-7253. Even if purchasing your property doesn’t emerge as the best option, we are more than willing to assist you in your selling endeavors!
5. Why should I choose your company?
At the foundation of our service, we take great pride in offering you trust and transparency. We firmly believe in breaking down every financial aspect with straightforward mathematics, ensuring a clear understanding of the offered price and the anticipated profit. Rest assured, our primary goal is to provide you with the highest achievable payment. Additionally, we present a comprehensive overview of the time and money you save by choosing to sell your property to us. Our unwavering commitment to honesty and fairness has earned us an outstanding reputation throughout Rhode Island.
Without undue pride, we have positioned ourselves as the premier cash homebuyer in Rhode Island. Our approach centers on treating clients with the utmost integrity and respect, establishing us as the region’s leading experts in cash home purchases. We genuinely care about your timeline, concerns, and terms, working to present an offer that leaves you genuinely content. Our extensive network of investors and partners is dedicated to facilitating a smoother and swifter transition to the next chapter of your life.
6. What do you do with my house once you buy it?
Upon acquiring your property, our initial step is to commence the refurbishment process, addressing any necessary repairs and renovation tasks to elevate the property to standards reminiscent of those featured on HGTV. Subsequently, we collaborate with a trusted agent to list and supervise the property’s sale, covering all associated expenses, including repairs, closing costs, fees, and commission. Ultimately, we find satisfaction in the modest profit generated, enabling us to continue assisting other clients in their seamless property selling endeavors. We take pride in our role in making positive contributions to communities and the economy by enhancing the value of neighborhoods throughout the state.
7. How many houses do you buy?
At the core of our business strategy is the acquisition of multiple properties, enabling us to offer you the most favorable prices. Despite narrower profit margins, the cumulative impact is substantial, thanks to our extensive client base. This approach ensures mutual benefits, allowing us to assist a wider range of individuals and positively contribute to the communities we serve. In cases where a direct purchase of your property is not feasible, one of our investment partners may step in. We collaborate with seasoned professionals in the house flipping industry, and throughout the closing process, we enlist the services of local, reputable attorneys to ensure a seamless and expedited selling experience for you.
8. How is the price you pay for my house determined?
Our process initiates with a meticulous assessment of your property’s after-repair value (ARV), indicating its potential market value after renovations. Our team of experts conducts an on-site evaluation to precisely gauge the necessary repair and refurbishment costs.
Furthermore, we take into account all expenses associated with selling the property. While opting to sell to us eliminates the need for a real estate agent initially, we do engage their services for listing post-purchase. All holding and closing costs, fees, taxes, and commissions are covered by us, typically amounting to approximately 10% of the ARV.
Subsequently, we subtract the ARV’s repair, refurbishment, and selling costs, incorporating a modest profit margin. This calculation allows us to determine a fair and competitive offer. Often, this figure aligns with what you might receive through traditional means, taking into consideration the additional out-of-pocket expenses typically associated with using an agent. The advantage with us is that you receive the payment promptly in cash, bypassing the conventional challenges of selling through an agent, where securing a legitimate buyer can take months.
9. Do you pay a fair price?
Our unwavering commitment to maintaining an excellent reputation and the highest standards of integrity means that we consistently provide you with a fair and equitable price. Transparency is a key element of our approach, and we employ straightforward calculations to delineate each aspect, offering you a precise understanding of how every dollar is allocated and the rationale behind our proposed price.
The equation we employ involves a thorough evaluation of your property’s market value, taking into account necessary repairs and post-purchase renovations. We then deduct the expenses associated with these enhancements, along with all the costs linked to selling the property. Our modest commission is subsequently factored into the remaining balance, resulting in the cash offer we present for your property. This transparent and comprehensive process is designed to ensure that you have a clear and informed perspective on the value we place on your property.
10. Do I need to clean my house before you buy it?
A noteworthy facet of our process is the assurance that you won’t need to worry about cleaning or repairing any aspect of your property. Simply leave it in its current state, and we will take care of all necessary aspects after the purchase of your home. This level of convenience stands out as one of the key benefits that our clients genuinely appreciate when choosing to sell their properties through this streamlined process.
11. Will you still buy my house if it is in poor condition?
Absolutely, house flipping is a pivotal element of our business strategy. Our goal is to boost the property’s market value by implementing essential repairs and improvements once we acquire it. This strategic approach alleviates you from the responsibility of handling these tasks independently, ultimately leading to a selling price comparable to what you would receive from us, all without the extended challenges.
While the transaction typically spans about a month, it’s worth noting that there are instances where we can conclude it in as little as two to three weeks. Our aim is to streamline the property selling process, ensuring a seamless experience for our clients. This accelerated timeline is designed to provide you with a quick and efficient resolution while still delivering a fair market value for your property.
12. Wouldn’t listing my house with an agent on MLS be easier?
Choosing a real estate agent and listing your property on various platforms may seem reasonable in specific situations, but it often results in a protracted and challenging process. Managing a continuous influx of potential buyers touring your property can be draining. Additionally, overseeing appraisers and inspectors, along with handling repairs independently, can be arduous as you work toward achieving your desired selling price.
Certainly, making renovations might boost your asking price, but it can come with substantial expenses that you must cover on your own. Enduring weekend open houses and the persistent stress of potentially lowering your price after weeks or months of no success can be incredibly taxing. Furthermore, even after finding a buyer, the closing process can stretch over several weeks.
On the flip side, we offer a swift and hassle-free solution to help you secure the desired cash amount for your property. Our method ensures a prompt transaction, enabling you to proceed without unnecessary delays or concerns. Our streamlined approach eliminates the need for extended property showings, open houses, and the complexities associated with traditional real estate methods.
13. Will you list my house on the MLS?
We don’t list our clients’ properties on the Multiple Listing Service (MLS). Unlike real estate agents who work to find buyers for your property, we take on the role of the buyer ourselves. Working closely with your input, we craft the most favorable offer and present it to you. Our involvement spans the entire process from start to finish. Once we acquire your property, we handle any necessary repairs and subsequently sell it to generate a profit. Meanwhile, you can receive cash promptly, avoiding unnecessary delays. We offer a comprehensive breakdown of the intricate calculations used to determine the offer, ensuring that you are well-informed and satisfied with the outcome.
14. Should I just list my house with an agent?
Considering your timeline and the extent of required repairs, listing your property with a real estate agent can be a viable option. However, it often becomes a challenging and protracted process, involving extended showings, inspections, and potential financing hurdles that may prolong the selling process for several months. For those seeking a quicker and more hassle-free alternative, HomeBuyers of America offers a solution. We provide a streamlined and professionally managed experience that ensures a prompt transaction, offering cash in hand and alleviating the stress typically associated with traditional selling methods.
15. How do I sell my house quickly for cash?
Our expertise lies in the expedited acquisition of properties for cash. To initiate the process, we engage in a comprehensive discussion about your property and its location, aiming to determine its maximum market value. Following this, we schedule a walkthrough to evaluate any necessary repairs and renovations. By accounting for the costs associated with these repairs and the selling process, we deduct them from the market value and incorporate our fair share. Upon completing this calculation, we present you with an offer that we believe will be highly satisfactory. The most appealing aspect is our ability to finalize the transaction in as little as 21 days, ensuring that cash becomes promptly available to you. This approach eliminates the prolonged waiting periods and complexities often associated with engaging an agent and listing your property.
16. Do I have to pay fees and commissions if I work with you?
You can rest assured that concerns about fees or commissions are unnecessary when working with us, as we operate differently from traditional real estate agents. Fees and commissions only come into play when we sell the property after acquiring it from you. Our streamlined pricing process involves three straightforward steps: first, determining the market value; next, assessing expenses related to repairs, renovations, selling, and profit; and finally, presenting you with a calculated price. Once you approve, we collaboratively choose a closing date and complete the necessary paperwork with the guidance of a trusted local attorney. This efficient process allows you to quickly sell your property and receive cash without incurring additional expenses.
17. Am I obligated to do business with you once I complete the form?
Completing the form doesn’t obligate you to proceed with us. Even if we initiate the process and you later find it’s not the right fit, there are no associated costs. While we believe you’ll see the value in our service, we respect your decision to explore other options. Our main goal is to help you find the solution that aligns best with your needs. Our earnings come solely from the profit generated after acquiring and successfully selling your property on the market.
If you have any inquiries, it’s entirely normal — a common situation. Hence, here is a brief collection of frequently asked questions with informative answers. However, if your question isn’t addressed here, feel free to contact us (or call us directly), and we’ll be more than happy to help satisfy your curiosity.