Frequently Asked Questions
How are you determining value in today's market?
This is the question we get asked the most which is why it’s at the top of the FAQ’s page. And because there's no simple “one answer fits all” we’ve dedicated an entire webpage to answer this question. Please visit our “The Real Value!” page for an in depth discussion on valuation.
How are you able to find wholesale properties with instant equity consistently?
We have over 35 years of real estate experience. Over the years we’ve developed relationships and systems that give us the ability to buy distressed investment properties well below market value.
Do you work with new investors or just experienced investors?
We work with new and experienced investors alike. For new investors we offer a lot of great resource material to help you get your arms around investment real estate (Click Here). For experienced investors join our blog for up to date information and market reports.
Do you work with investors who are out of the area or out of the country?
Yes, that’s the primary reason we created our “Value Added Turn-Key” opportunity. This model allows investors to purchase an investment property in which the rent-ready repairs have been completed, is tenant occupied and professionally managed. (See what are Canadian clients are saying about us!)
Do you work with homeowners or only investors?
We work with both homeowners and investors. Wholesale Homes is geared toward the investor while our sister company Valentine Sales and Management is designed for homeowners. Please visit Valentine Sales and Management at www.ValentineTeam.com for those of you who are interested in purchasing or renting a home rather than an investment property.
Do you work with Realtors?
Yes, we do work with Realtors who have investor clients. Because we primarily work with investors the price posted on our website and marketing materials do not factor in a Realtor commission. If you are a Realtor, please add your commission on top of the posted sales price when working with your investor clients.
Can I buy more than one property?
Yes, you can buy as many as we have available. However, purchase is on a first come, first serve basis. (Join our “VIP Wholesale Buyers List” to receive e-Blasts each time a property becomes available!)
Can I finance an investment property that I purchase from Wholesale Homes?
The reason we are able to offer properties to our investment clients well below market value is because they are typically distressed properties. Because it’s a distressed sale the seller typically wants to close immediately which means you will need to pay cash for the purchase of the investment home. Once you’ve purchased the investment home you can refinance at that time. We do have Hard Money Lenders we can refer you to in order to bridge the time between purchase and refinance.
Do you require an earnest money deposit?
Yes, because the properties we offer for sale are such bargains we have many interested buyers for each property. In order to tie up the property and pull it off the market we require a $2,500 non-refundable earnest money deposit.
Can I inspect the investment property before I purchase?
It depends. Some investment properties are purchased at foreclosure auctions and access is not always available. However, we do provide pictures (the good, the bad and the ugly) for every property so local as well as out of area investors have a visual of the property prior to purchase. (See our "Bargain Inventory” for a sample of all the information and pictures we provide our clients!)
Can I do my own rehab/repairs if I don’t want to use your company contractors?
Yes, we work with many local investors who prefer do their own rent-ready repair work or have someone they want to do it for them.
If I buy an investment home through Wholesale Homes can I hire another property manager or do it myself?
Yes. Our goal is to assist investors in any way possible. Many of our clients are out of area and are not able to handle the property management themselves. They also don’t want to spend the time to look for another company so we provide property management services through our sister company, Valentine Sales & Managment.
Can I choose my own title company?
As was mentioned earlier we have over 35 years of combined experience. Over the years we have worked with several title companies and weeded out the ones that are difficult to work with. We primarily use one nationally recognized title company to handle all closings as they are familiar with us and the types of transactions we close.
If repairs are needed will I be able to determine how much it’ll cost prior to purchase?
Yes. Our field coordinator completes an estimate of repairs on every investment home so we have a ball park idea of cost of repairs. Obviously, as with all construction projects, there can be unknown factors that don’t come to light until after construction has begun. However, because we typically deal with minor rehabs our estimating process has been fairly accurate over the years.
Have a question that we did not ask and answer?
Give us a call or send us an email with your question(s) and we’ll be happy to answer them.