We Buy Houses, Fast – Frequently Asked Questions
I’m not sure I want to give you all of my information, is that ok?
Not really.. In order for us to assess your situation and offer great solutions, we need details on what’s happening with the property and a bit about you. If you’d prefer not to tell us where the property is located, or how to get in touch with you then we can’t help! For example, everyone has a different perception of urgency. If you need to sell fast because the bank is foreclosing on the property next week, that’s important to know!
Where does my information go?
It goes into a client database held by us (and only us) so that we can contact you as required. We don’t share that information with anyone else, and will not be sold to a 3rd party.
Is this company local?
We are local and operate throughout the GTA. (Sometimes further depending on the situation)
I’ve never heard of this service before, is it new?
Nope, it’s not new. Traditionally those who are looking to sell real estate turn to a realtor for their services. In doing so, that process typically takes longer periods of time, commissions must be paid, signs are placed in the yard and you deal with the inconvenience of repeat guests through your home. This is a fresh take on that process, but with all the good stuff and none of the waiting.
I’m not ready to sell quite yet, can you help me when I am?
When you decide the time is right and you are emotionally ready to sell, we would be happy to assist.
I’ve never done this before, can you walk me through it step by step?
Yes, absolutely. We are very transparent and want everyone to be successful in the transaction, this includes you!
I’ve never seen the paperwork to sell a house before, what does it look like?
The purchase agreement is similar to an Ontario Real Estate Association Form 100. This is a standard form used by real estate professionals throughout Ontario, and is well understood by lawyers throughout the province. It’s about 10 pages in length, and summarizes details such as the owners name, the purchasers name/ company name, purchase price, closing date, conditions, deposit, etc.
If you make me an offer, do I have to sign it?
No, don’t sign anything that makes you uncomfortable. If you’d like your lawyer to look something over, we 100% encourage that
Can I have a copy of the offer?
If I don’t sign it, how long is the offer good for?
It depends on your situation, but generally the offer’s don’t stand forever. If you’re serious about selling your house, let’s make that happen.
I have some friends/ family that would like to be present when you come, is that ok?
Yes. We encourage everyone, especially seniors, spouses, partners, and/or those with disabilities, to have someone present for support. Often times, the process of selling your home can be overwhelming!
Note: If the property is in probate, an estate executor will be required to be present. Similarly, if the property is held by an owner that doesn’t reside at that address, they will also need to be present.
Are there real estate commissions associated with this process?
Who do you give the deposit to?
The deposits are held with a lawyer in a trust account. A trust account is a bank account that only lawyers have access to, and funds are not to be put in or withdrawn unless directed to do so.
My home is messy or in really rough shape, is that ok?
Yes, don’t clean it just for us. We buy homes in as-is condition, sometimes that means messy, moldy, and full of garbage, and sometimes beautifully maintained.
I have animals, is that ok?
Yes. If any animals are considered to be violent by nature, intimidating or of poor health, please lock them up prior to arrival.
Do I need to prepare anything else?
If possible, have your most recent tax statement (Also known as an MPAC statement), as well as a pen.
Do I need a lawyer?
Yes, all transactions take place through a lawyer. Don’t transact with anyone who doesn’t use up to date legal advice.
I don’t have a lawyer, can you point me in the right direction?
Yes. Depending on your location, we can refer you to a list of lawyers that we may or may not have used in the past. You can choose from the list, or do a Google search for your own. Either way, it’s in your best interest to have someone qualified and reputable for the job.
Can I use your lawyer?
No. You want to have your own representation solely looking after your best interest.
Will you make money on this property?
Yes. All businesses need to be profitable in order to survive. This is done after the property is closed and you have been paid out.
How do I get Paid?
Throughout this process, you will need to sign documents with your lawyer outlining the particulars of the property. On closing day, the lawyers handling the transaction will finalize the paperwork to ensure a firm legal sale. The buyers lawyer (our lawyer) sends the sellers lawyer (your lawyer) money to purchase the property as set out in the agreement of purchase and sale. Once that process is complete, you are paid! Simple!