Companies That Will Buy Your San Antonio Property

Do you need to find a company or individual that will buy your house?  More than likely you’ll wind up working with a local investor.  Cash home buyers have the ability to offer more solutions for you real estate problems and homeowners sell their homes to investors on a monthly basis.

Maybe you’ve been trying to sell your home for months, or simply happy to get the best value for your home without going through a lot of hassle. Either way, we can help.

How To Determine If They’re Reputable

There are plenty  of companies and individuals claiming that they can buy your house in 10 days or less.  However, most of these so called “investors” are nothing more than a wholesaler.  Basically, a wholesaler is a middle man on a real estate transaction.  They’re going to lock you in at a particular price and look to tack on $5,000+ and sell the contract to a willing an able buyer.

If you want to cut out the middle man, “wholesaler” then you need to do the following.

1.  Are they putting the words “and or assigned” next to their name on the front page of the purchase and sale agreement?  If they do, then more then likely they will assign the contract to another buyer.

2.  Pay close attention to the earnest money.  If the buyer can only come up with $100 to $500 then they’re not committed to buying your property.  Demand that they put down $1,000 – $5,000 and the title company should hold the earnest money check.

3.  Ask for proof of funds.  A company that buys houses on a regular basis should be able to provide this.  If they can’t then they probably don’t have the finances in place for the purchase.

Benefits Of Working With An Investor

  1. You can have an offer in your hand in less than 48 hours
  2. You won’t pay any commissions or fees
  3. They buy in any condition
  4. They offer flexible close dates
  5. They handle all of the paperwork

Work With Us…  Call Today

We’ve helped property owners just like you, in all kinds of situations. From divorce, foreclosure, inherited property, or troublesome rental properties.  It’s not surprising that those who own property simply have lives that are too busy to handle real estate problems.

Work with a company in San Antonio that can solve your real estate needs.

Lower Your Tax Implications When Selling Your Rental Property

There is a way to defer taxes and sell your current rental property.  It’s a legal strategy where you can reinvest the proceeds from the sale and not pay taxes on the gains.  Plus there’s no depreciation recapture.  If this sounds appealing then you should consider a 1031 exchange.

Make sure you work with someone in the local San Antonio area that has real world experience.  That means that they’ve done at least 10 or more.  You don’t want to be working with someone who hasn’t done a 1031 because they’re complicated and if you do them incorrectly then you’ll owe tax on the sale of the property.

There are qualifications and rules to follow to be able to get this tax benefit, but if executed right, a 1031 exchange will be able to help you to defer taxes.

Selling a Rental That Used To Be Your Primary Residence

In the event your primary house turned into a rental property you might be capable of using the primary residence exclusion to prevent taxes.

Now is certainly the time to meet up with your tax adviser to review the advantages and disadvantages of selling that rental property.  If you’ve lived in the house 3 out of 5 years then you could qualify.

The best way to move forward is to work with a knowledgeable real estate accountant.  A generic CPA is good but I’d recommend that you seek out an accountant that focuses on real estate.

Seller Financing Is A Great Option

If you’re looking to sell in the near future but you don’t need the cash then seller financing is a great way to lower your taxes.  You only pay tax on what you receive and by offering seller financing you’ll be receiving the proceeds in monthly installments.  This is a much better option because it spreads out the gains across multiple years thus lowering your tax bracket.

If you think you’ll need the cash at a later date then consider putting in a balloon payment on the note that you create.  Better yet you can dictate the term of the note as well.  Either way you can structure a deal that works best for your situation.

Do You Really Need To Sell It?

Have you thought about refinancing or a line of credit?  Both of these options provide you the ability to access cash but you won’t have to pay taxes on it.  I know that sounds kind of crazy but you’re not technically selling the property.

A line of credit is nothing more then debt that you can access at anytime.  Once you pull the money you’ll be charge a monthly interest.  Keep in mind that you still own the rental and hopefully you have a great tenant that will pay down the money pulled on the credit line.

A credit line is one of my favorite financial instruments.  Once you have them setup you don’t have to qualify or ask for approval when you want to use the money.  You just right a check.  This is great for those all cash home purchases.

A refi is a great strategy to for pulling cash out.  For instance, in the event you bought a property with $20k down and the total purchase price was $100k and it’s now worth $180k, it’s highly likely that you can refinance and pull out an additional $64k of cash with conventional bank financing.

This might be an excellent time to use this strategy due to the low rate of interest in today’s climate.

Don’t forget that you’ll be able to right off the interest expense in both of these scenarios.

If you’re set on selling the home then I’d recommend that you work with another investor in the San Antonio area.  Call me today and let’s grab some coffee 210-446-9253

How to find an honest cash home buyer in San Antonio

There are many reasons you might choose to seek out a cash home buyer. For example:

  1. A cash home sale is generally quicker than a traditional sale, which can be important if you need to pay off debts.
  2. A quick sale also eliminates upkeep costs and property taxes while you wait for your home’s value to rise.
  3. And “cashing out” can free up valuable financial resources so you can invest them more wisely.

However, it’s important to take the time to choose a honest cash home buyer. There are a number of scam artists that pretend to make a cash home purchase only to instead cost you the value of your home.

For example, one common scam is for these dishonest buyers to write you a check for deposit—once you deposit it, they have a change of heart and beg you for a refund.

Perhaps they say there’s been a major change in their financial situation; a family member is deathly ill or there’s been some other form of personal disaster. Naturally, you feel badly; you never intended for anyone to be “stuck” with your home, so you agree and refund them their money immediately.

However, you later find out their check never cleared the bank and now you’re out the full value of your house—and still have a home to sell.

full value of your house—and still have a home to sell.

Discerning an Honest Cash Home Buyer From a Fake

With a bit of due diligence you can avoid being taken in this way and can still benefit from all that a cash home sale has to offer.

Here’s what to look for:

A Locally Based Company. Finding cash home buyers in San Antonio is as simple as doing a quick Google search—but going with someone local can help you when it comes time to make sure they’re legitimate. Often, you can find other homes they’ve purchased and visit their offices, which can provide an important sense of security for your sale.

Proof of Funds. An honest home buyer will be able to furnish proof that they have funds available to buy your home. Generally, this will be either in the form of a bank statement or a hard money letter. If they can’t show you they have the money to make the purchase, they’re not the buyer you want.

An Offer Too Good To Be True. Cash sales are already a pretty good deal—but if a buyer offers to pay all cash and doesn’t even bother to negotiate with you on price, be suspicious. Honest cash home buyers operate as a business; that means they’ll negotiate to maximize their profits. If they don’t, beware.

Proof of other transactions they have closed. If the buyer is operating a cash home buying business, this won’t be their first purchase. Ask for proof of other purchases, to verify that they follow through. Feel free to ask how long they’ve been a cash home buyer; if less than a year, proceed with caution.

Do they reference a partner or “lots of buyers?” If so, beware. Agents sometimes pretend to be cash home buyers to secure a listing; in other cases, false cash home buyers avoid showing proof of anything by alluding to a “partner” who will magically reveal the requested information—but who never appears.

Ultimately, make sure you’ve done your best to investigate the cash home buyer you’re considering—look them up with the Gov Public Access, or another organization that will do background work for you.

And if you’re still not comfortable, choose another buyer.