In late 2014, we were contacted by a family (husband, wife, five middle-aged children - each in their 40's and 50's with involved spouses), who owned a vacant 2,600 square foot 1970's house in Mission Viejo, California. The residence was formerly occupied by the elderly mother and father, both of whom, became unable to move around the two story house that was not designed for people with mobility restrictions. When the husband and wife moved out, the property was soon transferred into a trust that was owned by all of the children. A spouse of one of the children was appointed trustee and his goal, on behalf of the family, was to sell the property as quickly as possible for a fair price.
The family nicknamed the house "The Nightmare on Duarte" due to a laundry list of problems they had been having with it over the past year - to list a few: past due on HOA payments and corresponding liens on the property, cracked slab, other foundation issues to due property location on a hill, slab leaks in two places, stained carpets, broken roof tiles and excessive dry rot and termite damage.
The family spent a few weekends interviewing real estate agents, who each had something different to say about recommendations prior to listing the property for sale. The majority of likely buyers would need a loan to buy the property and lenders would refuse to lend with major foundation, structural and safety issues. The family didn't have the expertise to do the repairs themselves and money was too tight to invest the needed amounts into hiring subcontractors to fix the problems. Each day that they had to hold onto the property, the past due balances and penalties grew and they were still facing a 2 to 3 month period to market the property and get it sold.
Fortunately, a friend of the trustee provided the owners with our contact information and explained that we specialize in buying houses fast, all-cash, which allows us to bypass any financing issues due to the condition of the house. After getting more information from our website, the trustees gave us a call and we made arrangements to meet at the property. We did a walk-through and determined that none of the problems were insurmountable. A day later we sent them our written offer to buy the property as-is, and the family and trustee accepted that same day. We closed escrow seven days after the Purchase Agreement was signed.
Prior to learning about our company, the family thought the only solution was to enlist the help of a real estate agent and hope that buyers didn't discount the pricing beyond what was fair. Based on what real estate agents told the family the house was worth, and after deducting the costs of selling including the 6% sales commission, the family was very happy with our offer and terms - we even paid all of the closing costs...another win/win solution for everyone involved.
If you have a property that you are considering selling a house or apartment property fast and you would like to go over some creative ways we could structure a sale, feel free to give us a call to talk about options. With Blake Buys Homes, homeowners pay no commissions and no fees. Visit our home page to learn more about our buying process and the benefits to homeowners that are considering selling their property.
The renovations shown in our pictures are the product of the Blake Buys Homes Construction Team (BBH Construction), which is comprised of the most high-integrity and hard-working subcontractors in Southern California. If you are looking for help renovating, fixing or updating a house or rental unit in Los Angeles County or Orange County, or other parts of Southern California, contact us to learn about ways we can help.