What should be considered when determining the price for my house?
The process relies on data as its foundation. Initially, we will analyze recent sales of similar properties in your immediate neighborhood to determine the value of the property after repairs. Following that, we will evaluate the current condition of the house and the necessary repairs. Financial proformas will be conducted to ensure Fair Trade can make a profit upon purchasing the property. Lastly, once we have calculated the repair costs and estimated future value, we will present you with a transparent cash offer for your consideration
Do I have any obligations when I submit my information?
There is absolutely no compulsion to collaborate with us in any manner. The decision entirely rests with you and any other titleholders to choose the best option for selling your house.
Is it necessary for me to tidy up the house prior to the closing of escrow?
No. We purchase houses in their current condition, including all personal property. Anything that remains after the escrow process will be our responsibility, saving you the trouble of cleaning out the property. You are welcome to take what you want and leave behind anything you do not wish to deal with, as we will handle it.
What closing costs should I expect to pay?
Fair Trade can cover the expenses for escrow and title insurance if you opt for our services. As the seller, you won’t be responsible for commissions, but you will need to cover taxes, which encompass any outstanding property taxes, as well as City and County transfer taxes related to the sale
How does the escrow process work?
After the two parties agree to sell their home and sign a California Association of Realtors purchase contract, the transaction is transferred to an escrow company. The primary role of this neutral third party is to facilitate the transaction and ensure that all liens, judgments, or mortgages are settled before the closing. Escrow is responsible for handling the receipt and distribution of the sale proceeds, and they will take care of paying off all liens. Finally, they will facilitate sending the net proceeds to the seller’s chosen account.
Do I have to be at the property for you to make an offer?
No. As long as you are the owner of the record, we have a well-established procedure for making virtual offers and buying properties. All we require are detailed pictures or videos of the property’s condition, and based on that, we will provide you with a cash offer. In case you don’t have photos or videos available, we can arrange for our local field agents to visit the property with your permission.
Are you Agents and will I have to pay a commission?
Fair Trade Real Estate operates as a brokerage, but you won’t be subject to any commission when you sell your home directly to our company. Although we are licensed real estate professionals, our primary focus is purchasing homes, and we do not charge sellers any commission or list properties.
What is a cash investor, and how does the process differ from selling through a real estate agent?
A cash investor buys a home to make a profit on instead of a home to live in. Selling through a real estate agent involves signing a listing agreement, paying a portion of the sales price to the agent as a commission, and putting your property on the local multiple listing service (MLS) website. When selling to an investor, there are no commissions, and your property will not be listed on the MLS.
How do you determine a fair offer value for my property?
Fair Trade uses current, local market data to determine the retail value of your property. The retail value is for an updated property, sold on the MLS, that sells to an owner-occupant who uses conventional financing to purchase the home. That value is the baseline for our calculation of our cash offer. Our acquisition team backs out the costs for renovations, holding the property, and resale commissions to determine the cash offer for your home.
Are there any fees or commissions associated with selling to a cash investor?
No. Fair Trade does not charge any fees or commissions. We offer owners a transparent cash offer.
What is the typical timeline for closing a deal with a cash investor?
The typical timeline for closing a deal with a cash investor is 14 to 30 days. Fair Trade has purchased homes as quickly as 7 days when it’s crucial for the seller. We have also accommodated longer escrow periods of 45 to 60 days if the seller needs more time to move.
Will you buy my property in its current condition, or do I need to make repairs or renovations?
Fair Trade will buy your property in its current condition. No need to make repairs. Just take what you want from the property, leave the rest, and simplify the selling process.
Can I sell my house if it's in foreclosure or facing other financial difficulties?
Yes. If you face foreclosure or financial hardship, you can sell your home to fair trade. If you are on title or have the authority to sell the property, we can purchase it from you. Our team and the escrow companies we work with are familiar with purchasing and closing properties that are facing foreclosure.
Do you buy properties in any location, or are there specific areas you focus on?
Fair Trade Real Estate is purchasing properties in California and Texas. We buy properties in primary and secondary markets.
How do you come up with your cash offer for my property?
Our acquisition agents run the numbers on what’s going on in your local market and consider the repairs necessary to bring the property up to the standards of the other homes in the community. We use a financial calculator to determine the cash offer price and present the offer for sellers to consider.
Are there any obligations or commitments on my part if I receive your offer?
No. We want to win your business and be the company you sell your home to, but if the offer is not a fit for you, there is no obligation to accept the offer or sell the home.
What fees would I pay when listing with a realtor?
The most significant fee you pay when listing with a realtor is commission. Depending on local practices, this can range from 3% to 6%. The other fees are closing costs like escrow fees and title insurance
Do you have references or testimonials from other homeowners you've worked with?
Yes. Our website has testimonials, but we always encourage potential customers to check our Google reviews. We have a 4.9-star rating with over 130 reviews.