Electrum – Frequently Asked Questions
Maybe you have a few questions. That’s okay: most people do. So here’s a quick collection of some of the common questions we receive along with our detailed responses.
If you still have a question, don’t hesitate to contact us at Electrum and we’ll provide you with all the information you need. You can also reach us at 806-630-0875.
Q: Will you be listing my house on the MLS or actually buying it?
A: Thank you for your inquiry! Unlike traditional real estate agents, we at Electrum are seasoned real estate investors focusing on acquiring properties in Lubbock. Our primary goal is to find properties that align with our investment criteria. Following the acquisition, we might proceed with renovations before either selling to a new homeowner or integrating the property into our rental portfolio.
Q: Do you pay fair prices for properties?
At Electrum, we specialize in acquiring properties below market value to facilitate profitable resale to new homeowners. Our aim is to secure properties at a fair discount, offering sellers the convenience of a quick cash transaction without the need for lengthy financing processes, property renovations, or agent commissions. If you value a swift house sale and a mutually beneficial transaction, let’s explore reaching a fair win-win price together. Rest assured, our no-obligation pricing commitment gives you the freedom to consider our offer without any pressure to proceed.
[DOWNLOAD our free guide that walks you through the Pros and Cons (plus the cost and timeline) of selling your house to a real estate investor… plus learn the pros, cons, and costs of the other two alternatives… listing with an agent or selling it yourself. Head on over here download your free guide →]
Q: How do you determine the price to offer on my house?
A: Great question and simple answer. Our process is very straightforward. Here’s what we look at:
- The location of the property
- What repairs are needed
- The current condition of the property
- The values of comparable houses sold in the area recently
Over the past five years, property values in Lubbock have experienced a notable decline, with many neighborhoods still in the process of recovery. Our team conducts thorough evaluations considering multiple factors to determine a fair market value that ensures a mutually beneficial outcome for all parties. Rely on our expertise to identify a tailored solution that aligns with the goals of both Electrum and yourself. Reach out to us at 806-630-0875 to explore further.
Q: Are there any fees or commissions to work with you?
A: Uncover the game-changer that distinguishes us in the real estate arena: there are NO hidden fees or commissions involved when you sell your property to us. We provide you with a fair offer, and if it meets your requirements, we will buy your house (and we might even handle the closing costs!). Enjoy a hassle-free transaction with zero fees. Our profit is earned after addressing any necessary property repairs and selling it for a profit. We take on the risks linked to selling the property for a gain; once we take ownership, all responsibilities transfer to us, freeing you from the property’s burdens and often leaving you with cash on hand.
Q: How are you different from a real estate agent?
A: Real estate agents list properties and aim for potential buyers to make a purchase. Typically, agents showcase properties to interested buyers, which can take an average of 6-12 months to sell in various markets. Upon successfully finding a buyer, agents receive a percentage of the sale price as their commission. In most cases, this commission ranges between 3-6% of the property’s sale price (e.g., for a $100,000 house, the commission would be $3,000 – $6,000). Agents offer valuable services for sellers willing to wait and allocate a portion of the sale price to cover commissions.
However, our approach sets us apart: We are not agents; we are direct home buyers. Our company purchases houses directly without listing them. As the actual buyers, we conduct transactions in cash and can make swift decisions to buy your house, sometimes within a day. Our business model revolves around assuming the risk of purchasing properties with our own funds, renovating them, and independently marketing them to secure a buyer.
Q: Is there any obligation when I submit my info?
At Electrum, we understand that selling your property is a significant decision. That’s why we offer you a hassle-free experience with absolutely zero obligation. Simply provide us with some information about your property, and we will assess everything to make you a fair all-cash offer. If needed, we can even schedule a call to learn more about your situation. Ultimately, the choice to sell your house to us is entirely yours. We value your autonomy and will respect your decision without any pressure or hassle – because we believe that you should have the freedom to decide what’s best for you.
If you still have questions, we are always available to talk. You can contact us anytime!
Read more here if you want to know more about the pros and cons of selling a house without a realtor.
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Get the FREE Guide and then give us a call at 806-630-0875 and we’ll discuss what your home is worth and what we can offer to buy it for with our Cash Offer Program.