Frequently Asked Questions
You probably have a few questions. We have answers. If we don’t cover it below, don’t hesitate to contact us (or give us a call) and we’ll be happy to answer it for you.
Q: What are you going to do with my house?
A: Here at Magic City Renovators, we know how much our clients care about their homes. We want to make sure that you know that we will ALWAYS take excellent care of your property once its in our hands. We’re not just going to tear it down and build a mega-mansion. Most likely, we are going to restore your property and resell it to a good family looking for a new home. Although, we have other strategies as well. Depending on your specific property and numbers, we may also renovate it and hold onto it as a long-term rental or even make it available to a first-time home buyers program that we work with. Either way, your home will be in caring, knowledgeable hands. We owe that to 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. We are professional home buyers: We buy houses in Birmingham and surrounding areas that meet our purchasing criteria. We personally hold rental portfolios, work with other investors, as well as first-time home buyers.
Q: Do you pay fair prices for properties?
A: Yes. Our philosophy is rooted in creating mutually beneficial transactions to better our communities. Our offers are based upon comparable sales of properties in like condition.
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 values of comparable houses sold in the area recently. Have you received offers from “We buy houses” companies that didn’t make sense? Give us a call and let us show you how we’re a cut above the rest.
Q: Are there any fees or commissions to work with you?
A: No. When we make you an offer we cover all of the closing costs, doc fees, and even the title companies cut. (This will all be covered in your Purchase & Sale Agreement.)
Q: Is there any obligation when I submit my info?
A: None. We want to educate you on your options. The end decision lies completely on you, your family, and your timeframe.
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 6-12 months), and then take a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3-6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $3,000 – $6,000 in commissions to an agent). Agents provide a great service for those that can wait 6-12 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 actually buys houses. We don’t list houses. Since we’re actually the one buying the house from you and we pay with all cash, we can make a decision to buy your house within a couple of days (sometimes 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.