FAQ's: buying property | owner financing real estate | real estate closing

Selling for cash means the buyer offers to purchase the property without requiring a mortgage or financing, paying the full amount in cash.

Cash deals often result in quicker transactions, avoiding delays related to mortgage approvals, and can sometimes lead to a more straightforward and certain sale process.

An iBuyer is a real estate investment company that uses technology to evaluate and purchase homes quickly. In our Express Offers program, iBuyers provide written offers to homeowners, often with favorable terms.

Cash offers may sometimes be lower than market value, but they often involve avoiding fees associated with traditional sales, making the net profit comparable.

First, we contract with iBuyers who set their home buying criteria. Our agents find homes that meet these criteria and present the homeowners with a Letter of Intent, outlining the offer. If the terms are acceptable, a purchase agreement is signed, and the home sale proceeds.

Selling to an iBuyer through our Express Offers program offers several benefits:

• Quick closing times, often within days.
• Sales in as-is condition, meaning no need for repairs or improvements.
• Avoids staging and frequent showings.
• Reduces the risk of the sale falling through due to financing issues.

Cash deals can typically close much faster than traditional sales, sometimes within a week or two, depending on the buyer's readiness and necessary paperwork.

There is no charge solely for using the Express Offers program. iBuyers pay a transaction fee to eXp Realty at closing. Homeowners may need to pay a commission if they agree to a listing agreement or unrepresented seller form with us.

Yes, selling for cash can often be done even if you have an existing mortgage. The cash from the sale will first pay off the remaining mortgage balance before you receive any proceeds.

eXp Realty will always represent the iBuyer. If you have not engaged another real estate brokerage, we may represent you as a dual agent, where allowed by state law. Alternatively, you may choose to proceed without representation.

Elysium is committed to customizing a deal that better suits your needs. We may try placing your property on the Market or explore creative financing to help achieve your desired outcome.

Yes, homeowners can accept, reject, or counter the iBuyer’s proposed terms. If an agreement is reached, a purchase contract is signed based on the mutually accepted terms.

After purchasing your home, the iBuyer may make improvements and either resell the home for a profit or rent it out. Often, the home is relisted with eXp Realty for sale.

With our Express Offers program, you can sell your home in as little as 10 days, depending on the terms agreed upon with the iBuyer.

While not every home will qualify for an instant cash offer, our team will help devise a personalized plan to meet your selling goals.

Provide key details about your home through our intuitive form, and our agents will guide you through the next steps, offering a hassle-free selling experience.

Creative financing includes non-traditional methods like lease options, seller financing, or subject-to deals, offering flexible terms for both buyers and sellers.

Creative financing can attract a broader pool of buyers, potentially leading to quicker sales, and it offers flexibility in terms, potentially fetching better prices.

Yes, by widening your pool of eligible buyers, creative finance methods can expedite the selling process and enhance overall market responsiveness.

Creative finance empowers you to negotiate terms collaboratively, fostering a win-win situation that satisfies both parties' preferences and financial capacities.

Absolutely, a hybrid approach may suit your needs. Consult with our financial experts to explore combinations that align with your goals and market demands.

Like any financial strategy, there are risks. It's crucial to work closely with professionals to navigate potential challenges and ensure a secure transaction.

Engage with our experienced real estate professionals familiar with creative finance to guide you through the process, mitigating risks and optimizing outcomes.

It depends on your negotiation skills and the perceived value of creative financing. Strategic implementation can potentially lead to favorable terms without compromising the sale price.