Here at RVA Property Solutions, we take an education-based approach to the cash home buying process. These frequently asked questions will help you understand who we are, what we do, and how we operate.
What is a real estate investor (also known as Home Investors)?
An investor is simply someone who acquires assets, lets those assets appreciate in value (or does something to them to increase their value), and then sells those assets at a higher price than what he originally paid for them. Stockbrokers do this with stocks and bonds, venture capitalists do this with businesses, and a home investor is simply someone who does this with homes.
What is the difference between home investors and real estate agents?
There are many differences between home investors and real estate agents, but the biggest difference is that a real estate agent is someone who will help you sell your house to a third party for a commission, whereas a home investor actually buys your house and then either sells it to someone else or rents it out.
Why would I sell my home to a home investor instead of having a real estate agent list it for me?
The process of selling a home through a real estate agent can take a long time, and there’s no guarantee it will even be sold—especially if it is in need of repair or renovation. Typically, people will sell their house to a home investor because they have a need for cash in the short term, or just don’t want to go through the hassle and expense of repairing a home, putting it on the market, and hoping it will sell. Also, unlike realtors, home investors do not charge fees or commissions.
What types of houses does RVA Property Solutions buy?
How do you determine the price you offer for my home?
We buy houses at between 50—65% of the full retail price. This allows us to complete all necessary repairs and renovations, and still resell the home at a modest profit. The full retail price of the property is determined by a number of factors, including age, condition, location, and current demand in the market. We always strive to offer a price that is fair for all parties.
If you buy my home, will my mortgage be paid off?
Yes. By law, any mortgage or other liens must be paid off when you sell the house. The balance of the money goes to you.
How quickly can you buy my home?
We can purchase your home in as little as seven days.
Can you buy my home if I am facing foreclosure?
Yes, if you act quickly! Many lenders would prefer to receive payment on their mortgage loan instead of taking the property. However, the sale must be completed before the foreclosure date.