Frequently Asked Questions
Perhaps you’re seeking clarity. That’s common; many people do. Here are some typical questions we receive, along with our detailed responses. If you have a question not covered here, feel free to reach out to us at your convenience. We’re here to assist you.
Q: Will my property be listed on the MLS or purchased by you?
A: Excellent question. We operate differently from real estate agents. At Excalibur Home Buyers, we are reputable property investors: We purchase houses in Plano, TX that align with our buying criteria. We do not rely on bank loans, ensuring a smooth closing process. Following the purchase, we may renovate the property for resale or retain it as a rental investment.
Q: How do your services differ from those of a real estate agent?
A: Real estate agents list properties and wait for potential buyers to show interest. The average time to sell a property in many markets is 4-6 months. Agents earn a percentage of the sale price as commission when a buyer is secured, typically ranging from 3 to 6%. For example, on a $200,000 property, you could pay $6,000 to $12,000 in commissions to an agent.
While agents offer a valuable service for those willing to wait and pay commissions, our approach is distinct. We are not agents; we are property buyers. Our team directly purchases your property. By offering an all-cash payment and buying the property from you, we can provide a prompt decision on purchasing your house, often within a few days (or even the same day). Our business model involves assuming the risk of buying properties with our own capital, handling any necessary repairs, and managing the sale process independently to find a new homeowner.
Looking for this to be broken down further? Here’s a comparison chart to give an overview:
| Selling w/ A Plano Agent | SOLD To EXCALIBUR HOME BUYERS | |
|---|---|---|
| Commissions / Fees: | Up to 6%, paid by you, the seller | None |
| Who Pays Closing Costs? | 2% on average is paid by you, the seller | We pay all costs. |
| Inspection & Financing Contingency*: | Yes, sales can fall through. | None needed |
| Appraisal Needed: | Yes, the sale is often subject to appraisal. | No, we make cash offers. |
| Average Days Until Sold: | +/- 91 Days | We provide immediate cash offers. |
| Number of Showings: | It Depends | 1 (Just Us) |
| Closing Date: | 30-60+/- days after accepting the buyer’s offer | The date of YOUR CHOICE. |
| Who Pays For Repairs? | Negotiated during the inspection period | We pay for all repairs. |
Q: Are you willing to pay fair prices for properties?
A: Our approach involves acquiring properties below market value to facilitate a profitable resale to another homeowner. We aim to secure a reasonable discount on a property, as our experience shows that many sellers are not necessarily seeking a substantial windfall. Instead, they value our ability to provide a quick cash sale without the need for financing, repairs, or agent fees. If you are seeking a fast sale and recognize the benefits we offer, we can work together to reach a mutually beneficial price. Our no-obligation pricing commitment ensures that you have the freedom to consider our offer without any pressure to proceed.
Q: How do you determine the price to offer on my house?
A: Great question, and we’re an open book. Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and the value of comparable houses sold in the area recently. Taking the many pieces of information into consideration, we come up with a fair price that works for us and works for you, too.
Q: Are there any fees or commissions to work with you?
A: When you sell your house directly to us, you won’t have to worry about any fees or commissions, unlike with traditional listing methods where up to 6% of the sale price goes towards fees. If our offer fits your needs, we’ll buy your house hassle-free and cover the closing costs in many cases. We make our profit after covering the repair costs and selling the house, taking on the risk of whether we can sell it for a profit. Once we purchase your house, the burden is off your shoulders, and you can walk away with cash in hand.
Q: Is there any obligation when I submit my information?
A: If you provide some information about your property, we’ll evaluate it and might schedule a call to learn more about it. We will then make a fair all-cash offer. After that, the decision to sell your house is completely up to you. We want you to feel comfortable with whatever you decide.
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