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.
Q: Will you be listing my house on the MLS or actually buying it?
A: Great question. We’re not agents, and we don’t list houses. Here at Pillar Home Buyers, we are professional home buyers: We buy houses Wichita 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.
Q: How are you different from a real estate agent?
A: 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.
Agents provide a great service for those that can wait 4+ months to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different. We’re not agents, we’re home buyers. Our company buys the house directly from you. Since we pay with all cash and purchase the house from you, we can make a decision to buy your house within a couple of days (sometimes even the same day). Again, we make our living by taking the risk to buy the house with our own cash, repair the house, and market it ourselves to find a buyer.
Looking for this to be broken down further? Here’s a comparison chart to give an overview:
| Selling w/ A Wichita Agent | SOLD To Pillar Home Buyers | |
|---|---|---|
| Commissions / Fees: | Up to 6%, paid by you, the seller- 3% for your sellers agent AND you pay 3% to the buyers agent! | You pay ZERO Commissions and ZERO FEES! |
| Who Pays Closing Costs? | 2% on average is paid by you, the seller | We pay all costs. |
| Inspection & Financing Contingency*: | Yes, sales can fall through, lengthy and costly repair requests, and lots of headaches | None needed! |
| Appraisal Needed: | Yes, the sale is often subject to appraisal. | No, we make cash offers. |
| Average Days Until Sold: | +/- 91 Days | We provide immediate cash offers and can close on your timeline |
| Number of Showings: | It Depends, at minimum we have found that in todays market we are seeing 10+ on a PERFECT house. | 1 (Just Us) |
| Closing Date: | 30-90+/- days after accepting the buyer’s offer | The date of YOUR CHOICE. |
| Who Pays For Repairs? | Negotiated during the inspection period (usually the seller) | We pay for all repairs. |
Q: Do you pay fair prices for properties?
A: Many of the houses we purchase are usually 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!
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 versus the pros, cons, and costs of the other two alternatives – listing with an agent or selling it yourself.
Q: How do you determine the price to offer on my house?
A: 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.
Q: Are there any fees or commissions to work with you?
A: 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.
Q: Is there any obligation when I submit my information?
A: 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.
Q: How do you pay Cash for homes in Wichita?
We utilize our network of “Hard money” and “Private money” lenders. This allows us to have the flexibility to close as quickly as 3 days if needed. These lenders don’t require any special appraisals or approvals in order to lend to us. That means you don’t have to worry about our deal falling apart because of financing issues like many conventional buyers struggle with.
Q: How do you calculate your offers?
We will make you a reasonable offer based on the location, condition, renovation costs, our holding costs, and other factors. We renovate our properties in-house, so we have lower overhead costs for renovations, allowing us to offer significantly more than most local investors. Because there is no obligation to accept our offer, it makes sense to call us at 316-816-2983
Q: Does my house have to be empty/cleaned out in order to sell it?
No. Items that are no longer desired may be left behind. We will dispose of them for you at no cost.
Q: What if I have tenants in place?
There is no issue at all. We will collaborate with you (and them) to find a solution.
Q: What makes you different from all of the other investors?
Excellent question! We have a very strong network of homeowners and Realtors in Kansas and we take our reputation very seriously. That being said, we keep our promises, communicate effectively, and strive to constantly add value to those with whom we collaborate. We’d love the chance to show you around!
Q: How long does it take to get an offer?
We are committed to delivering an offer to you within 24-48 hours!
Q: Can you stop Foreclosure?
We can buy your house before the auction, saving you from having a foreclosure on your record, which takes 7 years to remove. We can contact your lender and inform them that your home will be sold soon and that they will receive funds. If the value of your home is less than what you owe on it, we work with a great short sale negotiator to help us buy your home and save your credit. In these situations, time is of the essence, so call us right away!
Q: What if there are title issues?
Our team of title experts will work with you to clear up any title issues before closing!
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Learn The Pros and Cons Of Selling Your House To A Local Professional Home Buyer – Your FREE Guide:
Download our FREE Guide here and contact us anytime with questions or if you would like a no-hassle Situation Evaluation. Learn more about how we help Wichita homeowners sell their unwanted properties for cash.
Get your FREE Guide and then give us a call at 316-368-2009. We would love to discuss what your home is worth and what we can offer to buy it with our Cash Offer Program.