Frequently Asked Questions
We're sure that you have questions. Here are a few of the more commonly asked questions, with answers.
Are you Realtors® who just want to list my house?
Absolutely not! Dave Berens Real Estate is a group of real estate investors that buys houses from people like you in neighborhoods just like yours. We're NOT Realtors®. We don't want to list your house; we want to buy your house and may be able to do so immediately!
How can someone sell their house in 7 business days or less?
If you need to sell your home fast, we have the cash to buy it. The reason is because we work with private investors and private funds. We don't use banks. We can purchase your home in as little as 7 business days if necessary. Closing is scheduled according to your needs and/or time frame. We can buy your home very fast or very slow. You decide.
Who usually sells homes to you?
Many kinds of people sell homes to us. People may be moving to a larger home or downsizing to a smaller one...or maybe they are taking advantage of a job opportunity out of town. People going through some life-challenge like: divorce, job transfer, job loss, getting behind on payments, retirement, health problems, etc. Some people have inherited a property or have problem investment properties and need to sell quickly. We also specialize in helping people stop foreclosures so they can save their credit, giving them the ability to buy another house in the future. People from all walks of life who share the need to sell quickly to a reliable company: Dave Berens Real Estate.
What if our home has little or no equity?
Can you still help us? Yes we can. We specialize in homes with high loan balances and little or no equity. Many times we're able to buy the home for close to retail value. It all just depends on each individual situation. Give us a chance to make you an offer.
What is your process?
All you need to do is fill out the “Request An Offer” form on our website, OR call us any time day or night (24/7/365) at 818-206-8154 and talk with one of our representatives about your home, OR you may fax your information to us at 818-222-1647. We need to know such things as the property address, any loan balances, if there are any liens or judgments, if you are behind in payments and the overall condition of the property. We will then follow up with you about the next steps towards developing an offer on your home.
What is your fee?
We charge NO fees, NO commissions, and NO extra or hidden charges of any kind when working with us. You will know exactly what our offer is and your resulting net proceeds. We keep all information strictly confidential and you are under absolutely NO obligation. You are free to choose your best option.
How do you determine your offer price?
Normally, we can pay you only a discounted price from the full retail value of your home assuming it was in excellent condition. We are investors and need to generate a profit in order to stay in business. We can close quickly, pay cash and without all the other hassles of listings. Your loan balances are an important factor if you have little or no equity. We can still work with those situations. Generally, you will receive about the same NET proceeds from us as you would by "listing" your property but WITHOUT all the hassles and time delays! Considerations must be made for all the various traditional costs and expenses such as: sales commissions (6-7%), closing costs (3%), holding costs (2-6 months of regular monthly expenses), any repairs needed (thousands of dollars perhaps), back payments to bring loan current, insurance, utilities and taxes etc. We can be extremely flexible.
What if the tenant/buyer tears up my home?
There's no way we can guarantee you our tenant won't damage your home since we won't be living with them. But under our agreement, if that happened, we would repair it at our expense. Our objective is to find a buyer who will eventually qualify for a loan, and not a 'tenant'. Damages are rarely a problem. Again, if it happens, we'll fix it as per our written agreement.
When will you sell the home?
We can't give you an exact time. It will be up to the tenant/buyer to make that decision within the time frame they have. We can tell you we get paid when they buy, so obviously we'll be pushing them to do so … quickly! In the meantime, your payments will be made, which relieves you of the financial burden.
How do I know I can trust you?
We can understand your concern. We'll meet face-to-face after you call. You'll find we don't make empty promises … We shoot straight and we know this business. We believe we can create a solution that will work for both of us. If not, or if you're not comfortable after we meet, we'll shake hands and go our separate ways. Honestly, we view our business relationship more personally than just handling a house … We want you to be confident, and able to sleep well every night without worrying about your home or your payments. In fact, we wouldn't enter an agreement with anyone if we weren't confident in that person … and we don't expect any less from you. We're willing to devote our time and resources to your house, but only if you feel comfortable with that arrangement.
What if the person we put in the house does not pay?
Remember that that is our problem. If they don't pay, we will.
How do I know you'll make my mortgage payments?
Why would we not make the payments? We don't make any money until we get the home re-financed into the next person's name. That would be like working all week and not going to pick up our paycheck on Friday.
We can pay you directly and let you forward it to the mortgage company yourself. Or, we can set up a third party escrow company to collect from us and pay it for you. You can also choose for us to pay your lender directly. This is the most common technique. We handle all the paperwork. If we didn't pay, the lender would immediately notify you. So you're always on top, whichever method you choose. Remember that making the house payment is our problem, we bought your home subject to your mortgage.
Also remember that any increases in taxes, insurance or homeowner's dues are our responsibility.
What if I want to purchase another house?
We will give you a contract showing the payments are being made by us, so it will be a 'wash'. Example: $1,700 home payment on the mortgage, offset by $1,700 income from contract. We'll free up your debt ratio so you can qualify immediately. Be sure and let us know if those are your intentions.
Why don't I just list with a real estate agent?
That's certainly an option, but obviously an agent won't make your payment for you while they're attempting to sell your house. We're willing to make your payment and maintain it until our tenant/buyer gets their own financing. We'll give it our personal attention, and you can forget about it until our tenant is ready to buy.