Hey you guys, Carter here with CB Home Solutions and I am making this video today on we buy houses companies in Milwaukee, we buy houses companies in Waukesha, pretty much throughout the entire Milwaukee Metro area. How to know if they’re legitimate companies or they’re just planning on wholesaling property. And I will break down the term wholesaling for you as well so you can completely understand it and see if you want to work with one of those companies. I’m going to break it into simple, easy to follow processes to find out if the we buy houses Milwaukee company is even legitimate.
First things first, do they have the funds to actually purchase the property? And this might not mean cash in their pocket, it means do they have the relationships that they’re able to get the funding to purchase it in whatever timeline they specify to you? Whether that’s through a local bank where they have a credit line or a home equity line or something like that, or they have relationships and connections with what I refer to as hard money lenders or private money lenders. And you can search that term on Google if you really want to find a hard money lender in Milwaukee. There’ll be plenty of results for that.
The we buy houses companies in Milwaukee, if they have the funds to close, that’s step number one. That is great but then you have to take into consideration what their offer is. Is there a contingency period that they can walk away free and clear after seven days, 14 days, 30 days? Make sure you read through the offer thoroughly. Make sure you might even want an attorney to review it. Here at CB Home Solutions we use the WB 11 which is the Wisconsin Residential Offer to Purchase, a very standard document used in every single Wisconsin real estate transaction.
You’re protected, we’re protected. We don’t have to worry about that. There’ll be no further legal involvement along those lines. And we go through a local reputable title company in the Milwaukee area. That solves that issue.
But now going into, after you’ve looked through their contract, you verify that they have funds, is there any sort of out period like I had mentioned previously or are they going to personally buy the property or are they going to try and wholesale the property? And what wholesaling is essentially think of like a Walmart or like a pawn shop. A real estate investor, they put a property under contract for $100,000. They market that contract. They market the contract, not the house, the contract for an increased price of say $105,000 and they make the spread. They would make $5,000 but their offer is contingent upon assigning that contract to another end buyer, which might not be the best for you.
They could back out, say, seven days prior to closing, two days prior to closing or the day of closing, and you’ll be stuck sitting with the property just because a buyer did not perform. When you’re dealing with we buy houses companies in Waukesha or we buy houses companies in Milwaukee, you need to verify these things before ever considering selling the property to them. And if you want an as is cash offer on your property from a reputable. local company like our own, feel free to fill out the form below. I would love to have a conversation with you. I will personally reach out and call you and talk and discuss things and answer any questions you might have.
Enjoy your day guys and if you’re looking for a we buy houses company in Waukesha, feel free to reach out. Thanks so much.