Frequently Asked Questions

What is the advantage of selling my house to you?

There are a number of advantages to selling your house to us. First, simplicity. Since are real estate investors buying with cash there are no third parties (banks, mortgage lenders) requiring us to qualify for a loan. Second, quick purchase offers. We will visit with you and inspect your property. We will either make you an offer at that time or within a few hours. Third, fast closings. You don’t need to make any repairs. We have inspected your house and we know what repairs are needed and that is factored into our offer. So we can close fast and make the repairs later. And you can click the following link to compare Dr Cash vs iBuyers and Dr Cash vs Realtors.

Do I have any obligation or fee for your visit to my house?

No. No Fees, No Commissions. We are home buyers or real estate investors. Some of us are licensed as realtors but we are not representing you or anyone else. There is never any fee or obligation for us to visit your house.

Many homeowners and family members have questions about the process of selling their home to a real estate investor.

How fast can you complete the sale?

Fast. Sometimes very fast – if there are NO title issues. It is primarily dependent on the speed of the title company as they do their work on the title search.

When will I receive my cash?

On the day of the closing at the title company. Occasionally there is delay and funding may be the next day.

Do I have to make any repairs?

No. No Repairs. We are buying your house in “as-is” condition. Therefore we are assuming the responsibility for all repairs.

How do you determine what you will offer for my house?

There are a number of factors that we consider when making you an offer for your house. First we have to decide about the repair and remodeling costs. Do we want to invest in a “premium” remodel for a retail sale or do we invest less money for a “landlord” sale? Second, we also have to evaluate the comparable sales in the recent past and make an estimate of our selling price in three to nine months. Third, the holding, marketing, and closing costs have to be estimated and those estimates are also taken into account before we make an offer. You can read more on the topic in our blog article that focuses on the Estimation of Home Value by a real estate investor.

Do you buy rental houses with tenants?

Yes, we will buy rental homes and honor the terms of the lease. If we decide to remodel the house we will give at least 30 days notice to the tenants before the lease agreement expires.

What types of homes does Dr Cash Home Buyers purchase?

We buy ALL types of homes and houses – personal homes, rentals, duplexes, ranch homes, vacation homes, coastal homes, and more.

Do you purchase other types of real estate?

Yes. We also buy multi-family and other forms of commercial properties such as warehouses, self-storage and retail strip centers.

Can you complete a closing if one of the owners lives outside of the state?

Yes. We work with different title companies and all of them can handle closings with out-of-state owners.

What if I am behind in my mortgage payments?

In these situations the past-due mortgage payments and the remaining balance will be paid by us with cash. That will remove the lender and the lien (mortgage loan) from the property and it will be “free-and-clear” at that point.

What if there is a tax lien on my house?

All tax liens will be paid at the closing. The offer we make to the homeowner will factor in all of the liens that must be paid prior to transferring title.

What if I inherited the property?

Many times an inherited property is not wanted or needed. In addition, these houses usually have a considerable amount of deferred maintenance. In these situations a real estate investor or home buyer is the perfect solution. You can sell the house “as-is” without any hassles for cash.

What cities do you buy homes?

Our service area is expanding. The current list of cities we serve is listed on the Location page of our website.

Will I have to pay taxes when I sell my home?

First and foremost, we are NOT tax experts. We suggest you ask your CPA or tax advisor for help with this question. However, most home sellers will find the following IRS rule will apply:

For a single person, up to $250,000 profit is tax-free IF you lived in the house for two of the five years before the sale. For married couples filing a joint return the tax-free amount is $500,000.

But there are Special Circumstances to this rule such as divorce, death of a spouse, members of the military, etc.

So, Did we suggest you talk to your CPA or tax advisor? It would is a smart decision.

Two sources of valuable information are listed below:
IRS – Top Frequently Asked Questions for Capital Gains, Losses, and Sale of Home
TurboTax – Tax Aspects of Home Ownership: Selling a Home