Frequently Asked Questions
How do I get an offer on my property?
Fill out the No Obligation Offer and Rapid Property will contact you.
Are there any fees or commissions to work with you?
There are NO fees or commissions to work with us. We will make you an offer, and if it is a fit; we will buy your property (and we will often pay for the closing costs too!). No hassle. No fees. We make our money after we pay for repairs on the property (if any), to fix it up so it is nice and pretty, market the property and sell it for a profit (we’re taking all of the risk here on whether we can sell it for a profit or not). Once we buy the property from you the responsibility is ours and you walk away without the burden of the property and its payments; and oftentimes with cash in your hand.
Are you actually listing my property on the listing services or buying it?
Great question. We are not agents, and we do not list properties. We buy property that fit our buying criteria. From there we may repair the property and resell it to another buyer or keep it as a rental ourselves.
Do you pay fair prices for properties?
We have to purchase a property below market value so we can resell it at a profit to another buyer. However, if your property is being repossessed you likely do not have equity, so we can often negotiate with the lender for a discount on the property. In the end, we have to get a fair discount on a property so we have room to make a profit when we resell it. But, we bring to the table a fast, no hassle, all-cash offer: we can close quickly, are very flexible on terms of the sale, and will buy your property in any condition. If that is what you are looking for and you see the value in getting your property sold fast; let us talk and see if we can come to a fair win-win price.
How do you determine the price to offer on my property?
Great question and we are an open book; so we are glad you asked. Our process is rather simple. We look at the location, what repairs are needed, condition, and values of comparable properties sold in the area recently. As you know, property values have taken a huge hit in the last 5 years and most areas still have not seen prices come back up. So, we consider everything; and come up with a fair price that works for us and works for you too.
How are you different from a real estate agent?
Real estate agents list properties and hope that someone will buy them. The average time to sell a property in many markets right now is 6-12 months. As you know, you pay a commission as a % of the sales price when you work with a real estate agent. Often times its 3-6% of the sales price (so if it is
Is there any obligation when I submit my info?
No obligation at all. Once you tell us a bit about your property, we will look at the numbers, maybe set up a call with you to find out a bit more, and make you an all-cash offer that is fair for you and fair for us. From there, it is 100% your decision on whether or not you would like to sell your property to us; and we will not hassle you, will not harass you; it is 100% your decision and we will let you decide what is right for you.
Can I stop or avoid an auction by selling my property?
Yes, in many cases. When you sell your property, it stops it from going on auction and may help save your credit.
If you buy the property before the bank forecloses or repossess, can I save my credit rating?
Selling your property before finalizing any of the above mentioned, it is better for your credit history, as it prevents bad credit from appearing on your credit report.
I need to sell my property fast. How long does it take to get an offer to sell my property?
Each situation is unique, but Rapid Property will make you an offer within a week should your property meet our criteria and if it does not, we will give you feedback via e-mail.
What if my property needs repairs?
No need for repairs, renovations or clean-ups. Rapid Property buys property as-is.
How long does it take to close a deal?
Again, each situation is unique, but typically, Rapid Property closes a deal within days.
I am in foreclosure, repo or auction. Will you still be interested?
Yes, as long as any of the above mentioned has not been finalized yet, we can still make an offer on it. But, once the bank owns it, we cannot.
I am behind on my bond payments. Do I need to make up the payments?
No, we often purchases properties that are behind on payments or facing legal challenges.
Will you buy my property if it is vacant?
Yes, the property can be in any condition and it does not matter if you occupy it, have a tenant in the property, or if it is vacant.
Will you buy my property if I have a bad tenant in there now?
Yes. We are experienced in dealing with bad or problem tenants.
My property is currently listed for sale with an estate agent. Will you still buy my property?
Yes. You will likely still need to pay your agent’s commission, but we can still purchase your property.
If I have moved away from the area, do I have to come back for the closing?
No. You can complete your end of the closing locally at most attorneys’ offices and an electronic transfer will be made directly into your account.
I owe more than my property is worth. Can you still help me?
Yes. Unfortunately, this is common, we can work with you, and your bank through a process called a “short sale” to buy your property, however this is a time consuming process from the various legal entities.