The tenants can stay
The lease transfers with the house. At closing, the lease and the security deposits move over to us, and we let the tenants know who their new landlord is.
Condition is priced in, not fixed first
Worn floors, a dated kitchen, a unit that needs work between tenants: that's part of the walkthrough, not a list of repairs you have to finish before selling.
What we'll ask for
- A copy of the current lease
- The rent amount and how reliably it gets paid
- The security deposit amount
- Any open repair requests from the tenant
Own more than one?
If you own several rentals around Paducah, we can look at them together and make one offer or separate ones.
Questions people ask
Can you buy a rental house with tenants living in it?
Yes. We buy rental houses with tenants in place. The lease transfers with the house, and we take over as landlord, so you don't have to empty the house or wait for a lease to end.
How do you come up with your cash offer?
We start with what the house would sell for once it's fixed up, based on recent sales of similar Paducah homes. Then we subtract what the repairs will cost, which Eddie prices during the walkthrough, and our costs to buy, hold and resell the house. What's left is our offer, and we'll walk you through the numbers so you can see how we got there.
Are there any fees or commissions?
No commissions, because we're the buyer, not a real estate agent. We also pay the standard closing costs, so the price we agree on is what you receive, less any mortgage or liens paid off at closing.
Am I obligated to sell if I call you?
No. Calling, sending us your address or getting an offer doesn't commit you to anything. Take the offer, compare it, or tell us no.