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This page has answers to Frequently Asked Questions (FAQ) and a Glossary of Terms and Definitions.
Frequently Asked Questions
Here’s a list of questions that we often see from people interested in selling their house. Please see the answers, and if you need an answer to a question not listed here, feel free to contact us and ask!
Q: Who typically sells their houses to your company?
A: Anyone who needs to sell a house. We buy houses of all types and in any condition, from a wide range of situations. Here are a few common ones:
The one thing that most people we buy from have in common, is they need a fast, simple solution to sell their house, without all of the typical associated hassles.
Q: Do you buy houses in need of repair?
A: Absolutely! The houses we buy range from houses in excellent condition, to houses that are complete tear downs and need to be rebuilt from the ground up. We specialize in buying all types of properties including houses that need major or minor repair. No need to do any fix ups when you sell to us, that’s our job.
Q: Do you really pay all cash for a house?
A: Of course. If your house is a fit for our investment needs, and we can come to an agreement on price, we can certainly pay cash for your house and close in a very timely manner.
Q: How do you decide how much to pay for my house?
A: Good question. Since we are expert house buyers, we understand the markets that we are working in. What we will do is determine the comparable price for your house based on other similar properties that are selling in your area. Then we’ll determine what repairs are needed and the cost to facilitate those repairs. We’ll subtract that from the comparable prices and also add in our selling and buying costs, and a reasonable profit. That’s a simple overview of how we come up with a target price for your house.
Q: Do I have to sell my house if you make an offer or if I contact you?
A: Absolutely not. There is no obligation whatsoever. Feel free to contact us and share some details about the house you want to sell. We will be honest and give you a fair cash offer on the property. If that works for you, great! If it doesn’t you can either counter offer or decide not to sell your house. It’s your house, there is no pressure or obligation from us at all.
Q: How does the process work?
A: The process for us to buy your house is very simple and straightforward.
1. Let us know that you have a house for sale by giving us a phone call at (801) 671-5942, or simply filling out this fast response form
2. Next, we’ll do some quick research on the house to determine potential market value and whether or not it may be a fit for our criteria and needs. Most houses are. We may have a few questions for you as well.
3. We’ll make an all-cash offer to you and/or also may lay out a few other options that can give you a higher price or better terms.
4. If we agree to do business together, we will handle all the details and paperwork and a fast professional closing. You’ll be finished with the house and can put it behind you and move on with your life.
It really is that simple!
Q: Are there any fees involved? Do I have to pay you?
A: No. There certainly is never a fee for us to make an offer on your house. If we decide to buy your house we handle all the costs included.
Q: I still have questions, how can I get them answered?
A: We’re happy to answer any of your questions! Simply give us a call at (801) 671-5942 and we’ll be glad to help.
OK, this sounds perfect. I’m ready to get my house sold!
Glossary of Terms
Amendment Alteration of a law or resolution.
Ancillary Administration of an estate other than where the decedent was domiciled.
Beneficiary Heir at law, in an intestate estate, and devisee, in a testate estate.
Bona Fide In or with good faith, honestly, openly & sincerely, without deceit or fraud.
Caveat If an creditor of the estate of a decedent is apprehensive that an estate, wither testate or intestate, will be administered without the creditor's knowledge, or if any person other than a creditor is apprehensive that an estate may be administered, or that a will may be admitted to probate, without the person's knowledge, he or she may file a caveat with the court. Upon a probate proceeding opened, the court will notify that person of the opening.
Claims Liabilities of the decedent, whether arising in contract, tort, or otherwise and funeral expenses. The term does not include expenses of administration or estate, inheritance, succession, or other death taxes.
Clerk The clerk or deputy clerk of the court.
Codicil A supplement or addition to a will, not necessarily disposing of the entire estate but modifying, explaining, or otherwise qualifying the will in some way.
Court The circuit court.
Creditor An individual or entity to which an estate may be indebted.
Curator A person appointed by the court to take charge of the estate of a decedent until letters are issued.
Decedent The person who has died.
Devise When used as a noun, means a testamentary disposition of real or personal property and, when used as a verb, means to dispose of real or personal property by a will. The term includes "gift," "give," "bequeath," bequest," and "legacy."
Devisee A person designated in a will to receive a devise.
Disclaimer The rejection, refusal, or renunciation of a claim, power or property.
Domicile A person's usual place of dwelling and shall be synonymous with "residence."
Elective Share a widow's statutory prescribed share.
Estate Property of a decedent that is the subject of administration.
Executor A person named by a testator to carry out the provisions in the testator's will.
Exempt Property Estate property which is not subject to probate proceedings.
Family Administration Simplified probate proceeding which may be used if total value of the estate is less than $60,000.
Family Allowance A portion of a decedent's estate set aside by statute for a surviving spouse, children, or parents, regardless of any testamentary disposition or competing claims.
Fiduciary Another name for an executor or personal representative.
Foreign Guardian A guardian appointed in another state or country.
Guardian A person who has been appointed by the court to act on behalf of a
Heirs An individual entitled by law to inherit from another.
Homestead Property which is set aside for the benefit of specific family members, and which cannot be transferred by the decedent to a third party. As long as the homestead does not exceed in area or value the limits fixed by law, in most states it is exempt from forced sale for collection of a debt.
Incapacitated Person A person who has been judicially determined to lack the capacity to manage at least some of the property or to meet at least some of the essential health and safety requirements of such person.
Intestate Without a will.
Letters The authority granted by the court to the personal representative to act on behalf of the estate of the decedent and refers to what has been known as
Minor A person under 18 years of age whose disabilities have not been removed by marriage or otherwise.
Oath A solemn affirmation to tell the truth.
Personal Representative The fiduciary appointed by the court to administer the estate and refers to what has been known as an administrator or executor.
Per Stirpes To distribute a share to a descendant of a deceased beneficiary.
Petition A written request to the court for an order.
Plenary Guardian Full, entire, complete Guardianship.
Preneed Guardian A person named in a written declaration to serve as guardian in the event of the incapacity of the declarant.
Probate of Will Means all steps necessary to establish the validity of a will and to admit a will to probate.
Pro Bono Work or services done or performed by an attorney, free of charge.
Rescind To cancel; revoke; terminate.
Residuary Devise A devise of the assets of the estate which remain after the provision for any devise which is to be satisfied by reference to a specific property or type of property, fund, sum, or statutory amount.
Revocation The act of withdrawal or recall of some power, making void a will.
Self-Proved Will A will in which at least two witnesses took an oath, included in the will, at the time the will was signed, and in which both the witnesses' and the decedent's signatures were notarized by a qualified notary public.
Subpoena A document ordering an individual to appear in court and give testimony.
Sui Juris Of full age and capacity.
Summary Administration Administration used if assets are under $25,000 or the decedent has been dead for more than 2 years.
Testate Having left a will at death.
Trustee Person or entity authorized by a trust document to handle certain property matters on behalf of another.
Waiver The voluntary relinquishment of a privilege or a right.
Ward A person who is under a guardian's charge or protection.
Will An instrument executed by a person, which disposes of a person's property on or after his or her death.
This "Glossary of Terms" is not intended to be a definitive legal definition of terms, but, is merely provided to assist the public with general understanding of court terminology.
If you have a need for definitive legal definitions of these or any other legal terms, you should seek the services of an attorney.
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