Q. What do you do with my information?
A. Your information will always be kept confidential and is only shared within our acquisition department. We store it in our database and use it to do research on your property to help us determine a value for your property.
Q. Who usually sells to Freedom Property?
A. This is one of our most common questions. Freedom Property purchases homes from people of all kinds:
-Pre-Foreclosure due to late mortgage payments
-Relocation to another area
-Probate or inheritance that needs a quick sale
-Title or lien issues
-Property needs to many repairs and you don’t have the money to get them done
-Mold issues that could be harmful to your health and even condemn a property
-Abandoned or Vacant property
-Building code violations
All of the sellers that contact us are looking to sell quickly, there are definitely some unique reasons we have heard in the past from people and nothing surprises us. So whatever your reason is; just know that we are here to listen, help, and close when you want us to.
Q. How does the process work?
1) Visit www.Freedompropertybuyer.com or call us at 860-876-SOLD to submit your information.
2) We call you to discuss your property and your needs. We then run your information through our underwriting system.
3) Accept or reject the offer presented to you during the call.
4) CLOSE! Get the cash you need in hand!
Q. Why should I work with Freedom Property?
A. This is our favorite question, and the easiest. Freedom Property was born to create win-win situations for us and our sellers. If not, we can always agree to disagree…. right? 99% of the time we can offer our sellers more money than our competition. We have more than one way of structuring a purchase. Depending on your situation we can give you a few different offers so you can choose which one works best for you.
Q. When can you close on our property?
A. We can close in as little as 5 days or on your timeline. You let us know when is ideal for you and we will make it happen.
Q. Do you actually close with cash?
A. Yes we do. We will have a bank check for you at closing or wire funds to a designated account through the closing attorney(s). For legal reasons we can’t just give you a brown paper bag with cash.
Q. What are my closing costs going to be?
A. It depends on if you have liens on the property and if they have pre-payment penalties. If there is a pre-payment penalty you will have to pay it. They typically are 1-3% of the loan balance. You will also have an attorney fee. This can range anywhere from $500 and up. We have seen upwards of $2,000 for a closing fee for some sellers. If you don’t have an attorney we can give you the names of 3 or 4 we have had a lot of success with. (And don’t charge an arm and a leg)
Conveyance taxes in Connecticut for state and town tax will cost 1.25-1.5% of the sale price. You will be responsible to pay the conveyance tax on our purchase price. For example: on a 100,000 sale depending on the town can cost you $1,250 – $1,500.
If you have unpaid taxes or association fees they will need to be paid current up to the date of the closing. If they have been paid in advance you will receive a credit at closing.
Q. What is your average closing time?
A. Believe it or not most sellers do not want to close in 5-7 days. From the day we have a signed agreement we typically close in 45 days. The reason for this is that our sellers typically need some time to line up where they will be living next.
Q. What if I already have an agent?
A. That’s fine, you can still give us a call and we can see if there is a way to help you.
Q. If I live out of state, how does the closing work?
A. Depending on if you are leaving the state or already live out of state will determine how to handle this. If you currently live in the area and you need to move we can have you pre-sign the closing documents with the attorneys before you leave and we can close and wire the check the day of the closing.
If you live out of state; the closing attorney will overnight the closing package to you a few days before closing to sign with a pre-stamped return package. You will fill it out, return, and receive a bank check or wire to your account the day of closing.