FAQs for Sellers
What Kind of Seller is a Good Fit for Woodlands?
Anyone who has an unwanted house or rental property and would like to sell it now could be a great candidate for working with Woodlands. We work with individuals and families in all types of situations and will work to provide a solution for you too.
Will I Need to Do Repairs if I Sell to Woodlands?
If your property is in need of repair or clean up, we can buy it as it is, so you have no hassles or bills to pay. When you deal with us there is no lengthy inspection process.
What Kind of Experience can I Expect when Selling to Woodlands?
We can buy quickly and without the headaches and hassles that often come with listing a property and finding a non-cash buyer. If you are look for a simple and quick solution, we are a great option.
Will there be a commission to pay when I sell to Woodlands?
No. We are not realtors or brokers, so there are no commissions charged when you deal with us. We are a real estate business and have real money and we are ready to spend it to buy your house today!
FAQs for Woodlands Rent-to-Own Buyers
How can the Strivers Program Help Me?
The Strivers program is designed to help people with damaged credit get into a home of their own, without requiring them to qualify immediately for bank financing.
As a rent-to-own buyer, you are able to lock in at current pricing without needing bank financing. Plus, unlike banks, we don’t care where your down payment comes from.
When you move in to your rent-to-own home, you’ll have the time to let your credit “heal” so, down the road, you’ll be able to go to a bank and “cash us out”. In time, even the worst credit will heal, especially if you’re in a comfortable position financially and able to pay your bills on time. We will work to verify that before you move in, you’re in a comfortable position with a payment you can afford.
We understand that many of our clients have come through a tough stretch, and need time to recover, rebuild, and heal. If that’s you, then our “no bank needed” Strivers program may be just what you’ve been looking for.
How do I Qualify to Participate in the Strivers Program?
The basic qualifications for our strivers program are below:
- Be prepared to put 10% or more down toward the house you would like to buy.
- Agree to meet with an experienced mortgage broker to make a plan for purchasing the home of your choice.
- Agree to follow through with the plan established and keep follow up appointments with the mortgage broker so you will be ready to purchase within 6-18 months of beginning the program.
- Agree to pay a standard monthly rental payment while working toward purchasing your home.
- Agree to maintain your home of choice while working toward purchasing it.
What is the Strivers Program?
At Woodlands we understand financial setbacks can come unexpectedly and can send almost anyones financial world upside down. We love helping those who are willing to help themselves regain their financial footing through a rent-to-own arrangement. Our Strivers program is a great opportunity for those who are serious about purchasing a home of their own but are currently unable to obtain a loan to do so.
Wholesale Buyers FAQs
Where are Woodlands wholesale properties located?
Our expertise allows us to offer a constant flow of fresh deals that are local to the northern Shenandoah Valley area, and in some cases in other parts of the country. Our wholesale properties are typically in the following Virginia counties of Frederick, Warren, Clarke, and Shenandoah and in the West Virginia counties of Berkeley and Jefferson. Many of the properties we offer are in or near the cities of Winchester, Front Royal, Martinsburg and Charles Town.
How can I find out more about Woodlands wholesale properties?
We list our available properties here on our website, which is updated regularly and often. We also send email announcements of new properties available to those who request it. Receiving the email notice will give you a significant advantage in that you will know about our latest offerings before others.
What is the best way to purchase a Woodlands wholesale property?
Cash is king when it comes to purchasing our wholesale properties. Properties that need more than a few repairs often will not qualify for a loan even if a buyer has great credit. When a buyer purchases with cash it is much less likely that our time or our buyers time will be wasted on an unapproved loan.
To whom does Woodlands sell wholesale properties?
Our wholesale properties are typically sold to investors who are looking to make repairs and updates and then resell the properties for a profit. We also sell to landlords and even owner occupants who are willing to do the repairs and updates themselves.
What are Woodlands wholesale properties?
While Woodlands holds properties for rental purposes and/or revitalizes many of the properties we purchase, we also offer diamonds in the rough to other investors. These wholesale properties are often fixer-uppers we sell at an exceptional price that is set with our buyers resale profits in mind.
Becoming a Real Estate Investor: Frequently Asked Questions
How can I get started as a real estate investor?
Getting started as a real estate investor takes planning, education, business acumen and an understanding of many related facets of the real estate business. Woodlands RE has years of experience across a broad range of markets coupled with strong financial resources. We have the knowledge and experience in the business of finding and buying investment properties. Woodlands RE team buy hundreds of homes each month across the U.S. They look for local investors who are interested in purchasing inventory. Because we have a multi-million dollar advertising budget, you wont have to spend your funds on advertising or on hiring individuals to track down investment properties. We’ll do it for you. Get in touch with your local Woodlands RE team. They can mentor you throughout your learning process.
How much money do I need to get started in real estate investing?
Generally, depending upon your credit score, lenders require 10 percent of the purchase price of your prospective investment property as a down payment plus closing costs. You should also have reserve funds to cover repairs or rehabbing costs, utilities, insurance and taxes during your holding period. A Woodlands RE team can help guide you toward the complete answer by carefully analyzing your investment goals, your existing resources and other factors.
How do I find investment properties?
Your initial goal as a real estate investor is to find and purchase properties as a discount. To accomplish this goal, you must spend an enormous amount of time driving neighborhoods, researching tax records, knocking on doors of strangers, conducting related research and a myriad of related activity before making a purchase, Or, you can contact a local Woodlands RE team who can use our brand strength to attract the best opportunities and guide you through the investment process. You’ll find that many of our team act as mentors for first time investors.
How do I know that I'm paying a fair price for an investment property?
While there are many sources of local market data, Woodlands RE can help you obtain prices on comparable properties in your local market. Other sources of data include the Multiple Listing Service (MLS), local appraisal district data, Web sites that list homes for sale and many other sources. Savvy investors don’t overlook the value of using their own eyes and intuition. A drive through a targeted neighborhood can reveal a wealth of data including whether or not local properties are well-maintained, if the neighborhood is in transition, the prevalence of for sale or for rent signs or obvious neighborhood problems. Your Woodlands RE representative can guide you during the property evaluation process. Look at it this way: If you pay a franchisee more for the house than they paid for it, you’ll still have saved the advertising costs, not to mention the cost of additional employees, travel expenses and other associated costs.
What if I don't want to do the rehab on a property?
Woodlands RE team may be able to help you identify qualified contractors who can help rehab your properties. Or, they may be able to sell you a rental-ready rehabbed property if that’s what you’re looking for.
Will a Woodlands RE franchisee help me find financing?
In many cases, yes. Woodlands RE team work with many lenders and may be able to help you find the right one that will fit your financial needs.
What types of residential properties do Woodlands RE franchisees sell?
Woodlands RE franchisees may be able to help you identify qualified contractors who can help rehab your properties. Or, they may be able to sell you a rental-ready rehabbed property if that’s what you’re looking for.
What if I don't want to do the rehab on a property?
HomeVestors franchisees may be able to help you identify qualified contractors who can help rehab your properties. Or, they may be able to sell you a rental-ready rehabbed property if that’s what you’re looking for.
What expenses are included in a mortgage payment?
As soon as you decide to start shopping for a home, you begin to hear a lot of terms you may not be familiar with. One you might have already come across is PITI, which stands for Principal, Interest, Taxes, and Insurance the four components included in a mortgage payment.
So, with each monthly house payment, you’re actually paying a portion of your principal loan balance and interest on the loan, 1/12 of your annual property taxes, and your monthly homeowner’s insurance premium.
But it’s important to keep in mind that this is not the only new monthly expense you’ll encounter as a new homeowner. Utilities like electricity and water will most likely be higher than you’re used to. Plus, you will probably have new utilities to pay, such as gas and sewer. You might also be responsible for paying homeowner association or condo association dues.
Another expense that can catch a new homeowner off guard is home repair. Buying a HomeVestors house is a good way to keep those expenses at a minimum, because you will know before you purchase the house what’s been repaired and is under warranty, and what is original to the house.
However, you still have to be prepared for the unexpected. That is why many of our franchisees also offer an optional homeowner’s warranty.
What kinds of financing programs do you offer?
When you buy your first home from a Woodlands RE team, there are several financing options available to you even if your credit is less than perfect. Through a special arrangement with Bank of America, many of our customers have been able to purchase a Woodlands RE house with little to no money down! Plus, some Woodlands RE team offer owner financing or other programs.
How does the process work?
Buying a first home can be intimidating. But when you work with a HomeVestors franchisee, you have someone to guide you through the entire process. Our franchisees often work with first-time home buyers, and are ready to answer any questions you have.
If you already have a real estate agent, your HomeVestors franchisee will be happy to work with him or her to help you find your perfect home. However, you don’t need to have an agent in order to buy a HomeVestors house.
If you’d like to talk with a HomeVestors franchisee about how the process works, click here to get started.
Once I find a house to buy, how quickly can I expect to move?
In general, you should plan on moving about 45 days from the date you sign your purchase contract. Although Woodlands RE team can typically close quickly sometimes in as few as 15 days we advise planning on 45 days because, if you’re a renter, you will likely need to give your landlord 30 days written notice.