Navigated to Behind the Scenes: What Happens When You Sell to a Cash Home Buyer - Transcript

Behind the Scenes: What Happens When You Sell to a Cash Home Buyer

Episode Transcript

1 00:00:07,759 --> 00:00:10,739 Hello. Welcome back to the Danny Buys Houses podcast. 2 00:00:10,739 --> 00:00:14,859 I'm your host, Danny Johnson, here in San Antonio, Texas. 3 00:00:15,599 --> 00:00:17,139 All right, we got a great show for you today. 4 00:00:17,500 --> 00:00:22,179 If you've got a house that's falling apart, inherited a property you don't want, or just evicted some 5 00:00:22,199 --> 00:00:25,639 tenants who left a mess, this episode is for you. 6 00:00:26,579 --> 00:00:31,439 Today, we're going behind the scenes of selling a house to a cash homebuyer like me at Danny Buys 7 00:00:31,439 --> 00:00:35,999 Houses. I'll walk you through every single step, from the first call to cash in your 8 00:00:36,020 --> 00:00:40,459 hand. We'll answer some listener questions too. Are you ready? Let's get started. 9 00:00:42,099 --> 00:00:46,960 Selling a house can feel like a mystery, right? Especially if it's beat-up or if you need out fast. 10 00:00:47,379 --> 00:00:49,919 That's where cash buyers like Danny Buys Houses come in. 11 00:00:50,279 --> 00:00:55,239 I've been doing this for over 20 years now here in San Antonio, buying houses as is 12 00:00:55,239 --> 00:00:59,539 for cash. No repairs, no delays, just a simple real estate 13 00:00:59,579 --> 00:01:00,319 transaction. 14 00:01:01,019 --> 00:01:04,279 So what happens when you contact us? Let's dig into that. 15 00:01:04,279 --> 00:01:06,699 Let's break it down in detail step-by-step. 16 00:01:07,779 --> 00:01:10,359 First step, you reach out. You can call us at 17 00:01:10,399 --> 00:01:14,639 210-881-7707. That's 18 00:01:14,699 --> 00:01:18,479 210-881-7707 or head to 19 00:01:18,479 --> 00:01:20,359 dannybuyshouses.com 20 00:01:20,999 --> 00:01:25,039 and fill out the fast cash offer form. It's right there on the homepage and you can't miss it. 21 00:01:26,599 --> 00:01:28,859 All right, it's easy. It really just takes two minutes. 22 00:01:29,399 --> 00:01:33,439 Uh, you just basically tell us about your house, where it is, what it's like, 23 00:01:34,219 --> 00:01:39,099 and, you know, don't hold back. If, if it's got cracks in the walls, an outdated kitchen, or a leaking 24 00:01:39,139 --> 00:01:42,799 roof, we need to know. This isn't really a beauty contest. 25 00:01:42,999 --> 00:01:46,099 We buy off-market properties in any shape whatsoever. 26 00:01:46,619 --> 00:01:49,719 Once you hit the submit button on the form or hang up the phone, we're on it. 27 00:01:50,239 --> 00:01:51,779 Next, we schedule a visit. 28 00:01:52,379 --> 00:01:57,099 We agree to a time that works for you. We come to your house, me or one of my 29 00:01:57,159 --> 00:01:59,519 team, and there's no pressure and no rush. 30 00:01:59,879 --> 00:02:02,999 You know, even if you're out of town, we can even work around that. 31 00:02:03,539 --> 00:02:08,299 This isn't a traditional home inspection where we walk around with a clipboard and nitpick everything, 32 00:02:08,579 --> 00:02:12,119 climb up on the roof, crawl under the house. We don't do any of that stuff. 33 00:02:12,539 --> 00:02:17,179 We're basically looking at what shape is the house in, what do we need to do to get it fixed up and 34 00:02:17,279 --> 00:02:21,219 sold, rented, or, you know, anything else we wanna do with the house. 35 00:02:21,739 --> 00:02:26,039 So basically, we're looking at what shape the, the HVAC system is in, do the kitchens, bathrooms need 36 00:02:26,099 --> 00:02:28,859 updating, uh, is the foundation unlevel? 37 00:02:29,379 --> 00:02:33,479 Um, you know, what kind of cleaning needs to be done? Is there anything that need to be hauled off? 38 00:02:33,479 --> 00:02:35,679 All that kind of stuff. And don't worry, 39 00:02:36,499 --> 00:02:38,699 because nothing scares us. We've seen it all really. 40 00:02:38,719 --> 00:02:43,259 We've bought burned houses before that have been, you know, like 20, 30, 40% 41 00:02:43,339 --> 00:02:46,539 burned. We've bought high-end houses that didn't even need any work. 42 00:02:47,099 --> 00:02:48,439 Uh, we're not scared off by anything. 43 00:02:48,439 --> 00:02:53,379 We've, we've, uh, you know, we're really just figuring out what it'll take to fix up after we buy it. 44 00:02:53,379 --> 00:02:58,299 That's our job, not yours. So you don't have to worry about, you know, having a detailed list of things 45 00:02:58,319 --> 00:03:01,059 or point out things. We, we just walk through and, and look at it all. 46 00:03:01,919 --> 00:03:06,579 You know, this walkthrough typically really, a lot of people are surprised 'cause it only takes about 15 to 47 00:03:06,699 --> 00:03:10,419 30 minutes. So we're not gonna take up a lot of your time during this appointment. 48 00:03:11,059 --> 00:03:12,739 And then the big question that we get 49 00:03:13,499 --> 00:03:15,639 is usually, how do we determine our offer? 50 00:03:15,799 --> 00:03:17,339 So we've walked through, we've determined, 51 00:03:17,959 --> 00:03:21,239 you know, how much, uh, in repairs we're gonna have to do. 52 00:03:22,139 --> 00:03:26,879 We can basically come up with our cash offer for you. And people wanna know what is the process. 53 00:03:26,899 --> 00:03:31,719 Well, we look... Before we head even out there to the house, we're looking at what the house's value is 54 00:03:31,759 --> 00:03:34,599 fixed up. So we look at what things have sold for... 55 00:03:34,599 --> 00:03:39,139 Similar houses have sold for in that immediate area within the last typically six 56 00:03:39,219 --> 00:03:43,319 months. And from there, we have an idea of what it might be worth once we're done fixing it. 57 00:03:43,319 --> 00:03:44,979 Obviously, there's some risk involved. 58 00:03:45,359 --> 00:03:50,179 And so, you know, we, we have to figure out that number, uh, pretty, uh, you know, sometimes 59 00:03:50,219 --> 00:03:54,459 conservatively depending on, on how varied the different sales prices have been. 60 00:03:55,019 --> 00:03:59,839 And from there, we subtract the repair costs that we just figured out after walking through the house 61 00:04:00,359 --> 00:04:03,579 and a little bit for our profit. And that's it. There's no secret formula. 62 00:04:03,899 --> 00:04:08,859 Say your place needs 30K in work, we factor that in and give you a fair number for the, uh, for 63 00:04:08,879 --> 00:04:13,399 the house. So, it's not full market price. Those buyers don't want... 64 00:04:13,399 --> 00:04:14,899 You know, they don't want to buy a house that needs work. 65 00:04:14,899 --> 00:04:18,199 They want move-in ready, but it's cash, it's fast, and it's hassle-free. 66 00:04:18,699 --> 00:04:21,739 So you know exactly what you're getting, no games, right? 67 00:04:21,739 --> 00:04:25,939 There's no, there's no cost to get that offer. There's no obligation for you to accept that offer. 68 00:04:26,499 --> 00:04:29,619 Uh, but if you do like it and you wanna move quick, we're ready to go. 69 00:04:30,819 --> 00:04:35,699 So let's assume that you do like the offer. What's next? So you say yes and we move fast. 70 00:04:35,699 --> 00:04:39,379 We both sign a purchase agreement so that our offer is in writing, right? 71 00:04:39,399 --> 00:04:40,659 You wanna know what you're agreeing to. 72 00:04:40,659 --> 00:04:44,159 We wanna know what's being agreed to, all in writing, so there's no confusion. 73 00:04:44,659 --> 00:04:47,879 We send the deal to a local title company here in San Antonio. 74 00:04:47,879 --> 00:04:50,139 For us, it's usually Old Republic Title. 75 00:04:50,759 --> 00:04:54,619 They do a title search, make sure the house is yours to sell and there's no hidden liens. 76 00:04:55,219 --> 00:04:59,979 Uh, it just takes a few days and we put down earnest money deposit to show we're serious and to make it a 77 00:04:59,979 --> 00:05:01,019 binding contract. 78 00:05:01,779 --> 00:05:06,559 Uh, and then we set a closing date. So that closing date is gonna be, you know, basically, 79 00:05:07,499 --> 00:05:11,559 you know, a week. It could be two weeks. It's really up to you. It's what do you need. 80 00:05:11,559 --> 00:05:14,539 How much time do you need to take care of things you need to do? 81 00:05:14,559 --> 00:05:19,299 If you are living in the house, you need to move out, you wanna have, you know, three or four weeks, 82 00:05:19,499 --> 00:05:20,559 that's really up to you. 83 00:05:21,359 --> 00:05:23,099 Uh, we're pretty flexible with all of that. 84 00:05:23,939 --> 00:05:28,299 So now, the closing day rolls around. We're usually out there early. 85 00:05:28,319 --> 00:05:31,379 We sign first with the title company because it only takes us about 10 minutes. 86 00:05:31,899 --> 00:05:36,619 Then you sign at the title company when it's convenient for you or you can even sign remotely if you're not 87 00:05:36,659 --> 00:05:37,079 local, 88 00:05:37,699 --> 00:05:39,959 uh, and can't make it to the title company in person. 89 00:05:40,499 --> 00:05:45,399 Uh, after all signatures are, are done, the title company gives you a check for your proceeds 90 00:05:45,779 --> 00:05:48,039 and the papers, uh, everything's done. 91 00:05:48,119 --> 00:05:51,859 You know, everything is recorded at the, the county courthouse by the title company. 92 00:05:51,859 --> 00:05:55,359 They really handle all of that kind of stuff, so you don't have to worry about it. 93 00:05:55,359 --> 00:05:57,419 You're really basically signing and getting your check 94 00:05:58,039 --> 00:06:01,939 and, uh, handing over the keys, and that's basically the, the end of it for you. 95 00:06:02,699 --> 00:06:03,059 So, 96 00:06:04,299 --> 00:06:08,959 you know, you walk away with crash- cash, no strings attached. We take the house mess and all. 97 00:06:09,519 --> 00:06:14,419 And, you know, I've had, uh, I've had even folks cry tears of relief at 98 00:06:14,479 --> 00:06:19,339 the table, you know. Uh, I remember one, one lady, Carla, sold us a house after her 99 00:06:19,339 --> 00:06:22,239 tenants had wrecked it and she said, "Danny, I feel free." 100 00:06:23,159 --> 00:06:26,159 And, you know, you could tell that the weight had been lifted off her shoulders. 101 00:06:26,159 --> 00:06:27,639 And, and that's what this is all about. 102 00:06:28,739 --> 00:06:31,419 So, that's basically the process in a nutshell. 103 00:06:31,419 --> 00:06:35,359 If you have more questions regarding how we do things and what we do, feel free to give us a call. 104 00:06:35,359 --> 00:06:36,559 We'd love to talk to you about it. 105 00:06:37,319 --> 00:06:41,639 And, uh, at this time in the podcast, I like to, to go through some listener questions. 106 00:06:41,639 --> 00:06:46,099 So you've sent them in. I've got answers. Let's get right into the mail. 107 00:06:46,439 --> 00:06:50,859 All right, the first one here. "Danny, what if my house needs a ton of repairs, including a roof 108 00:06:51,379 --> 00:06:56,099 that has been leaking for a long time? Can you still buy it?" That's from James in San Antonio. James, yes. 109 00:06:56,239 --> 00:06:57,079 You know, the worse, 110 00:06:57,779 --> 00:07:01,979 the better. We bought places you wouldn't step foot in. Uh, repairs don't scare us. 111 00:07:01,979 --> 00:07:04,159 You don't touch a thing while we handle it all. 112 00:07:05,059 --> 00:07:09,879 Uh, even if there's, you know, a different thing caused by, by the, the roof leaking for a long 113 00:07:09,919 --> 00:07:13,319 time, you're gonna have damage that might not be seen. We know that. We understand that. 114 00:07:13,319 --> 00:07:18,239 We can get in there and take care of stuff and we'll still buy the house as is so that you don't have to mess with 115 00:07:18,259 --> 00:07:21,659 any of that stuff. All right, James? Cool. All right, next. 116 00:07:22,419 --> 00:07:24,979 Let's see here. "I inherited a house full of junk. 117 00:07:25,059 --> 00:07:28,039 Do I have to clear it all out?" This is from Rachel in Universal City. 118 00:07:28,639 --> 00:07:33,359 Uh, Rachel, nope, leave it all there, furniture, trash. Whatever you want to take, you take. 119 00:07:33,379 --> 00:07:35,699 Whatever you don't want, just leave it there. We'll deal with it. 120 00:07:36,279 --> 00:07:36,579 Um, 121 00:07:37,199 --> 00:07:42,099 you know, I once bought a house with 20 years of, of things, newspapers and, and 122 00:07:42,099 --> 00:07:43,239 different things stacked up 123 00:07:43,879 --> 00:07:47,379 and, uh, you know, nearly touching the ceiling. It was kind of hard to even get through the place. 124 00:07:47,759 --> 00:07:51,159 So you're off the hook. You don't have to, to worry about cleaning all that stuff up. 125 00:07:51,179 --> 00:07:56,059 I know that's daunting to, to have to go through all of that stuff, uh, when you don't really even 126 00:07:56,179 --> 00:07:58,819 want any of it, you know, to find out what to do with it. 127 00:07:58,819 --> 00:08:03,719 A lot of times, there's, uh, an emotional attachment to it because of th- the person that owned those 128 00:08:03,779 --> 00:08:06,739 items, you know, things like that. So, you don't have to worry about that. 129 00:08:06,739 --> 00:08:11,653 We'll take care of it if you don't wanna keep any of it.All right, so the last letter here is, "How fast can 130 00:08:11,674 --> 00:08:16,453 you close? I'm behind on property taxes." That's Mark from Converse. Hey, Mark. 131 00:08:17,033 --> 00:08:21,174 Uh, you know, we can close in as little as a week if you're in a pinch, uh, tax troubles are 132 00:08:21,654 --> 00:08:26,614 urgent. We know we've helped folks dodge auctions, uh, with days to spare and we can move fast 133 00:08:26,634 --> 00:08:31,214 for you. So just give us a call. We can see what the situation is, uh, and, uh, the property 134 00:08:31,253 --> 00:08:33,853 information, all that kind of stuff, and make you an offer and see if we can't, 135 00:08:34,493 --> 00:08:39,213 uh, get that house sold, uh, before any- any more serious problems with the property 136 00:08:39,273 --> 00:08:41,754 taxes 'cause you know, the county's gonna get paid. 137 00:08:41,913 --> 00:08:45,113 Before anybody else, the county will get paid no matter what. 138 00:08:45,753 --> 00:08:46,214 All right. 139 00:08:46,973 --> 00:08:49,393 If you got more questions, send them my way. I love hearing from you. 140 00:08:50,073 --> 00:08:50,933 And, um, 141 00:08:51,953 --> 00:08:53,693 yeah, so let's transition into, 142 00:08:54,293 --> 00:08:56,554 you know, like I said before, how- how to get the ball rolling. 143 00:08:56,554 --> 00:09:00,113 If you're thinking about considering a house, uh, selling a house quickly, 144 00:09:00,773 --> 00:09:05,413 uh, for cash, needs repairs or anything like that, just visit, uh, DannyBuysHouses.com. 145 00:09:05,733 --> 00:09:10,573 Fill out that fast cash offer form on the homepage and tell us about the San Antonio house, repairs or 146 00:09:10,573 --> 00:09:14,033 not. Or if you're in surrounding areas, Seguin, um, 147 00:09:15,333 --> 00:09:18,553 uh, Universal City, Converse, Selma, Schertz, 148 00:09:19,253 --> 00:09:24,053 Boerne, uh, you know, New Braunfels, all of that kind of stuff, you 149 00:09:24,073 --> 00:09:28,893 know, it- it's fine. Uh, just reach out to us and, uh, and we'll make you an offer. 150 00:09:29,173 --> 00:09:33,553 All right? There's no- no obligation and you can say no and walk away if you're not happy with the offer that 151 00:09:33,573 --> 00:09:34,713 we make you. All right. 152 00:09:35,513 --> 00:09:35,793 So 153 00:09:36,853 --> 00:09:41,593 selling a house doesn't have to be hard. You know, it can be scary, but it doesn't have to be hard. 154 00:09:41,593 --> 00:09:45,773 I've... Y- you know, I know it's scary for most people and, uh, you know, I've been doing this since 155 00:09:45,853 --> 00:09:46,593 2003. 156 00:09:47,233 --> 00:09:51,933 So I love helping people with houses that- that need work 'cause I love taking houses, fixing them up and- 157 00:09:51,933 --> 00:09:53,273 and really transforming them. 158 00:09:53,913 --> 00:09:58,793 Um, you know, that house with the- the ceiling that's falling down and, uh, 159 00:09:59,613 --> 00:10:00,773 you know, maybe has, uh, 160 00:10:01,693 --> 00:10:06,593 you know, lots of problems, uh, that you really don't want to deal with anymore, we'll take it, 161 00:10:06,953 --> 00:10:09,253 fix it up and, uh, we'll do something with it. 162 00:10:10,113 --> 00:10:13,773 We can get you cash for that house as is. And, uh, you can be on your way. 163 00:10:14,073 --> 00:10:15,613 That's what we do at Danny Buys Houses. 164 00:10:15,633 --> 00:10:18,673 So head over to DannyBuysHouses.com, fill out that form, and let's talk. 165 00:10:18,913 --> 00:10:21,013 I'm Danny Johnson, and here, 166 00:10:21,693 --> 00:10:25,493 uh, I'm here to make this easy for you in San Antonio. All right? 167 00:10:25,733 --> 00:10:28,653 Thanks for tuning in, everyone. Uh, share this with someone who needs it. 168 00:10:28,673 --> 00:10:33,553 Next time, we're gonna talk about selling an inherited house for cash, whether probate 169 00:10:33,553 --> 00:10:38,233 has been done or not. So you don't wanna miss it. Tune in to the Danny Buys Houses podcast. 170 00:10:38,653 --> 00:10:42,593 This is Danny Johnson saying take care and let's get that house sold. See you soon.