Fixer-Upper investments are properties that are usually in need of repair or remodel. If they don’t need repair, they will be in our Turn Key Area. Sometimes, the repair can be just paint or flooring. Others may take special expertise. You take on the project that best suits you!
We provide the service to help investors buy properties that are not on the tradditional real estate market that uses MLS or real estate agents. We do work with real estate agents and feel they are important in the real estate market. However the properties we deal with are considered “Off Market” or wholesale properties.
The wholesale market are properties that come from sellers that need to sell their property “fast” or “as is” because of life’s many problems or because the property is in disrepair. In order to buy one of these properties, the investor would need to have cash or access to get cash quickly through a line of credit, bridge loans, etc. If you don’t have either, call us and we can help get you started in acquiring the necessary information and resources.
We find “wholesale” or fixer-upper properties, put them under contract and make them available to investors to inspect and decide. If an investor desires to buy a house that we have under contract, we assign (sell) them the contract. We do not sell properties under the “Fixer-upper” program. That is the “Turn Key” program. Under the Fixer-Upper” program we assign (contracts) to the investor. The contract then belongs to the investor to finish out or close. The seller and investor would then have the property closing.
Fixer-Upper – To Summarize the Wholesale “Fixer-Upper” process:
- You call us or you sign up to be on our Fixer-Upper list.
- We gather information that will help us know what types of properties you are looking for.
- When we have found a property, we contact you and alert you that an investment property is available.
- We set up a time for you to see the property so that you can evaluate the property to see if it is right for you. The property will be available to you at below market value. This gives you enough room so that you can still have margin for closing costs, rehab/repair and profit.
- In order to see a property, you must provide proof of funds. This will be some form of documentation from your bank that shows you have cash or Line of Credit available. IMPORTANT NOTE: Closings can be very fast (some as fast as 3 days) and will be agreed upon by the seller and the investor.
- We sign an assignment agreement that gives you, the investor, ownership of the contract and authority to fulfill the property contract to purchase the property. Note: At the signing of the assignment agreement (agreement between you, the investor, and Moore Property Solutions), a deposit will be paid and then the remainder will be paid in full at the closing.
- The property contract will be finalized at a meeting called “The Closing.” The closing agent/Attorney will provide a H.U.D. or similar type of closing/financial statement of the property purchase before this meeting for approval. At the closing, the state required documents are signed and the balance of funds are exchanged.
- The property is now yours! You may begin repairs!
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