FREQUENTLY ASKED QUESTIONS
Maybe you have a few questions. That’s okay; most people do. Here is a quick collection of some of the questions people ask us, along with our answers. If you still have a question, don’t hesitate to contact us anytime. We would be happy to answer it for you.
Answer some of your questions with this information bank
Great question. We’re not agents, and we don’t list houses. Here at Midwest KeyFree, we are professional home buyers: We buy houses in Des Moines, Iowa that meet our purchasing criteria, and we don’t use bank financing so you don’t have to worry about our ability to close on a deal. After purchasing, we may repair the house and resell it to another homeowner or keep it as a rental ourselves.
Real estate agents list properties and hope that someone will buy them. The agent shows the properties to prospective buyers if there are any (the average time to sell a property in many markets right now is 4-6 months) and then takes a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3% to 6% of the sale price of your house. If it’s a $100,000 house, you’ll pay between $3,000 to $6,000 in commissions to an agent.
Many of the houses we purchase are below market value. We do this so we can resell it at a profit to another homeowner. We are looking to get a fair discount on a property. In our experience, many sellers aren’t necessarily expecting a large “windfall” on the property. Instead, they appreciate that we can offer cash, we close very quickly (no waiting for financing), and no time, effort, or expense is required on your part to fix up the property or pay agent fees. If that’s what you’re looking for and you see the value in getting your house sold fast, let’s see if we can come to a win-win price for both parties. Our no-obligation pricing commitment means that you don’t have to move forward with the offer we give… but it’s good to know what we’re offering!
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.
This is what makes us stand out from the traditional method of selling your house: there are NO fees or commissions when you sell your house directly to us compared to listing fees, where up to 6% comes out of your pocket. We’ll make you an offer and, if it’s a fit, then we’ll buy your house with no hassles and no fees. We’ll often pay for the closing costs, too! We make our money after we pay for repairs on the house and sell it for a profit. We’re taking the risks here on whether we can sell it for a profit or not. Once we buy the house from you, the responsibility is ours and you walk away without the burden of the property and its payments, as well as cash in your hand.
There is absolutely zero obligation for you. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out a bit more, and make you an all-cash offer that’s fair for you and fair for us. From there, it’s 100% your decision on whether or not you’d like to sell your house to us. We’ll let you decide what’s right for you.
Looking for this to be broken down further? Here’s a comparison chart to give an overview:
Selling With An Agent
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Commissions / Fees: Up to 6%, paid by you, the seller.
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Who Pays Closing Costs?: 2% on average is paid by you, the seller.
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Inspection & Financing Contingency: Yes, sales can fall through.
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Appraisal Needed?: Yes, the sale is often subject to appraisal.
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Average Days Until Sold: +/- 91 Days.
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Number of Showings: It depends.
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Closing Date: 30-60+/- days after accepting the buyer's offer.
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Who Pays for Repairs?: Negotiated during the inspection period.
SOLD to Midwest KeyFree
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Commissions / Fees: None.
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Who Pays Closing Costs?: We pay all costs.
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Inspection & Financing Contingency: None needed.
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Appraisal Needed?: No, we make cash offers.
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Average Days Until Sold: We provide immediate cash offers.
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Number of Showings: 1 (just us).
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Closing Date: 14 days or less.
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Who Pays for Repairs?: We pay for all repairs.
An inspection contingency lets the buyer have time to do an inspection and back out of the sale or negotiate a new price if there are repairs that need to be done. If you can’t come to an agreement with the buyer, the buyer has the right to back out of the sale. Similarly, a financing contingency gives the buyer the wiggle room to back out of the purchase if they can’t obtain a loan or if the home doesn’t appraise for the value that the bank needs to close the loan.