Frequently Asked Questions
Are you REALTORS™?
What if I’m behind on payments, in foreclosure or bankruptcy?
Yes! We are a professional real estate solutions company with knowledge how to solve these difficult problems.
What type of houses do you buy?
How many homes should I view before buying one?
That’s up to you! For sure, home shopping is easier today than ever before. The ability to search for homes online and see pictures, even before setting a foot outside the comfort of your living room, has completely changed the home buying game. Convenience is at an all-time high. But, nothing beats visiting a home to see how it looks and ‘feels’ in person.
Why is my home’s assessed value different from the market value?
Your home’s assessed value and market value are each determined by different factors.
Buyers and sellers affect the market value of a home, while professional appraisers calculate the assessed value.
In a seller’s market, your home’s market value may be higher than its assessed value.
That’s because buyers are willing to pay more than the home is technically worth because of low inventory.
In a buyer’s market, you’ll be facing a lot of competition from other sellers, so buyers may put in an offer lower than the home’s assessed value.
Are real estate commissions negotiable?
You can definitely negotiate your realtor’s fees. They’re typically 6%, with 3% of that going to the buyer’s agent and 3% going to your agent.
Some agents may be willing to work for less, especially if you use a discount broker or agent-matching service like Rylo Homes.
You can also try to negotiate fees on your own, though the realtor may reduce the number of services they provide.
The same goes for using a discount broker. Some offer cheaper rates because they’re providing you with less help along the way.
They may even charge you with a fee-for-service structure. This can work in your favor if you have experience in selling, but need just a little help with the paperwork.
To get cheaper commissions without sacrificing service, an agent-matching service like Rylo Homes. is ideal.
When is the best time to sell a home?
Early spring and summer, especially June, is a great time to sell a home.
Research shows that home sales in May, June, July, and August account for 40% of total annual sales volume.
Overall, home sales are still pretty good through early fall, so it wouldn’t be a bad idea to sell a home during this period, either.
However, home sales drop once winter hits. January is the worst time to sell a home, as market activity is much lower.
How can a real estate agent help me sell a home?
A real estate agent has an in-depth knowledge of the area and how your home compares to others on the market.
They’ll have a good idea of how much you can get for your home and ways you can improve its value.
When it’s time to list, they’ll make sure your home’s priced just right, helping to maximize your offers and sell your home faster. They’ll also take care of all the paperwork, market your home, and coordinate open houses.
Real estate agents aren’t just helpful during the listing process, though. They offer a network of professionals throughout the entire selling journey.
You’ll have connections for everyone you need, whether that’s a closing agent or quality listing photographer.
Can I back out of buying a house?
Yes, but you may lose earnest money (basically, a security deposit given to the seller upon signing a contract).
You can also face legal consequences if you back out of the agreement for a reason not outlined in the purchase agreement. This document outlines important details, such as repairs the seller is responsible for and contingencies of the real estate deal.
However, there are certain scenarios where breaking a purchase agreement is understandable. If you lose your job, can’t sell your current home, or can’t get approved for a mortgage, it’s best to wait until you reach financial stability before buying.
Other issues with the home, such as a failed home inspection, unrepaired problems, or difficulty with transferring the title, are also acceptable reasons to back out of an agreement.
Will you be listing my house on the MLS or actually buying it?
Great question. We’re not agents, and we don’t list houses. We are professional home buyers: We buy houses in Kentucky that meet our purchasing criteria. From there we may repair the house and resell it to another homeowner or keep it as a rental ourselves.
Do you pay fair prices for properties?
We are looking to get a fair discount on a property. In our experience, many sellers aren’t necessarily expecting a large “windfall” on the property but rather appreciate that we can offer cash for your house in its ‘As-Is’ condition. We are local investors who seek to simplify the process of selling your house. We use our own funds to make our offers. We buy houses and we are ready to buy your house for cash today! Agents take way too long to list and sell your house and they charge you 6% commission in the process. We are professional home buyers only interested in buying your house for cash, which will save you time, money and effort. We also allow you to close on a day that’s convenient for you. Our process is designed to give you full control of how you sell your home.
How do you determine the price to offer on my house?
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. As you know, house values have taken a huge hit in the last 5 years and most areas still haven’t seen prices come back up. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.
Are there any fees or commissions to work with you?
This is what makes us stand out from the traditional method of selling your house: There are NO fees or commissions when you sell your house to us.
Once we evaluate the property, we then present a written offer that is fair based on the condition of the house. If you decide to move forward with the deal, we’ll give you 100% cash for your house. At Rylo Homes, we strive to make every aspect of selling your home easier. We are real estate investors who work hard and fast to provide you with the best result and service possible!
How are you different from a real estate agent?
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 4-6% of the sale price of your house. 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 are professional cash home buyers. Our process does not involve getting pre-qualified by a mortgage bank in order to obtain a home loan or listing the property on the MLS or any other listing platform. The reason our team at Rylo Homes is able to purchase properties very quickly is because we use our own money, which means the sale is more secure and we can close faster than a traditional buyer.
What Is an As-Is Home sale?
When a home is put up on sale as an as-is listing, it means it’s being sold in its current state—no upgrades or improvements will be made by the seller. The home may have major repair needs or maybe it requires a style and décor update. If a home is sold as-is, then the buyer takes responsibility for repairs and modifications, including problems that may not be apparent at the time of sale.
Can I Work With an Attorney?
Yes you may! And if it is easiest we can communicate with your attorney directly to coordinate any closing or title issues. We want to make sure each client feels comfortable no matter what situation is going on.
Does It Matter If I leave stuff behind?
Since we buy properties in as-is condition you can leave whatever items you do not want behind. So if you have odds & ends that you haven’t touched for the last 5 years and have no plans to, we will take care of it. In most cases we either donate or dispose of any unwanted or garbage items.
Why sell to a house/home buying company?
Some sellers may opt to work with a company that buys houses because their home needs a lot of work before they could consider listing it. Maybe the roof should be replaced or repaired, the windows are in rough shape, or the entire place is a cosmetic eyesore.
Not all sellers have the time or budget for hefty renovations necessary for a proper listing, and that’s OK. In addition, some sellers hate the idea of repeated showings. It raises their blood pressure and they want an easy, fast solution.
How long will it take to sell my home?
Rylo Homes is committed to helping you accomplish this goal quickly and easily. Our process eliminates all the traditional roadblocks that slow or stop a sale from happening. We pay cash and close fast!
You are under no obligation to sell your house to us. If our cash offer is the right option for you, we will open escrow and you can receive your cash in as little as 7 to 14 days, or on your timeline. It is that easy and stress-free to sell your house fast on your terms when you use our service.
What is the process of using an escrow entail?
An escrow is a term that refers to a neutral third party hired to handle the exchange of money, property transaction, and related documents. The escrow holds the money and documents in a trust until all terms and conditions of the sale are satisfied. When depositing earnest money, it is wise to use an escrow account.
What does a real estate investment company do?
A real estate investment company refers to a business that focuses the majority of its efforts and capital on real estate. In search of profits, real estate investment companies may choose to buy, renovate, sell, or finance properties.
Who will handle the repairs?
It doesn’t matter what condition your house is in, we can help you by making a fair cash offer on your home today. The costs involved in repairs, touch-ups, painting, and cleaning leave you drained and cost you thousands of dollars. Not to mention; extra mortgage payments and tax payments taking money away from your bottom line.
And all of this is before the house is even on the market! We buy houses on your terms AS-IS, without requesting any repairs. Take what you want with you and leave everything else behind. We handle the clean-up.
Do you have a good team?
When you chose Rylo Homes, you chose certainty. Since our inception, we have helped 100s of homeowners with their real estate needs. Whether it’d be buying your next home or selling your current one, you can be 100% certain that our team will work for you.
With the ability to directly purchase homes and make cash offers, we can create an extremely fast, and hassle-free transaction. We not only purchase property but we also sell our homes directly to buyers, many of which are completely renovated and in move-in condition. Whether you are dreaming of becoming a first time home buyer or looking to upgrade your current home, we can help. If we don’t have a home to sell directly to you, we can connect you with a licensed agent who can help you find your dream home! Rylo Homes is truly committed to helping each individual customer. We focus on fast response, integrity and over-delivering on customer service. By putting the customer’s needs first, whether selling or buying a home, we can help you realize your real estate goals. We are guided by our core values, mission and philosophy.
Can I Sell My Home With A Tenant?
Yes. We are experienced in dealing with bad or problem tenants. You have every legal right to sell your home with tenants. Every circumstance is different and this will be taken into consideration when offering you a cash value.
Is there any obligation when I submit my info?
You are in no way obligated to take our cash offer if it does not align with your expectations. Once we provide you with a FAIR CASH OFFER for your house, the decision to accept or decline our offer is completely up to you. The best part of our process is that it’s absolutely FREE.
To find out more about our home buying program, please call us today: (502) 317-8553
What is a foreclosure?
A foreclosure sometimes referred to as an REO, is a property that is owned by a lender. If you’re considering the purchase of a foreclosure, it’s important to understand that most are sold “as-is.” Foreclosures, if not purchased by an owner occupant, are often purchased by investors, fixed up, “flipped,” and sold to an owner occupant.
What is an earnest money deposit?
An earnest money deposit is also frequently referred to as a good faith deposit. When a buyer purchases a home, they provide the seller’s real estate company a deposit to hold in their escrow account. The primary purpose of this deposit is to show a seller you are serious about purchasing their home. The amount that is deposited is subtracted from the final figure that a buyer pays at the closing table. In most cases, the larger the deposit, the stronger a purchase offer looks to a seller.
Do I have the option to have any inspections?
When buying a home, you have the option to perform several types of inspections. The purchase offer you write can be contingent upon a satisfactory home inspection, pest inspection, chimney inspection, radon test, and many other inspections. In most cases, it’s recommended that when buying a home, you at the bare minimum have a home inspection. There are home inspection findings that are more common than others, however, no two homes are the same so it’s a great idea to get the home inspected.
How do I get the cash for my house?
Depending on the location of the closing (at the title company’s office or at your preferred location) there are a few ways that our sellers typically get paid. It basically comes down to either a wire transfer to your account or a certified cashier’s cheque.
What will you do with my house after you buy it?
We buy houses, fix them up and sell them to new homeowners. We take responsibility for the house once we buy it. We take the risk of whether or not we can sell it at a profit when we buy it from you. Whether or not we are able to, you can move on with your life once we’ve bought it from you!
What will it cost to sell my home?
There is no selling cost when you sell your home to Rylo Homes. Since we are investors buying the property directly, there are no real estate agent fees or commissions. We typically pay all the closing costs when you sell your home to us, what we pay is what you get in your pocket.
When you buy my house, do you actually pay me cash?
When we say we pay cash we mean that our purchases are not conditional on traditional financing from the banks which allows us to close fast! Once you’ve accepted our offer and the deal is firm, you will receive funds in the form of a wire transfer or bank draft from your lawyer on closing day.
How do I sell my house quickly?
Working with a buyer like Rylo Homes is the quickest way to sell your house compared to other selling methods, which rely on you sacrificing your time and energy. We can close in 14 days. You don’t have to list your home or make any repairs to it – we do all the heavy lifting. You can sell a house fast by working with one of the top real estate agents in your area, going the for-sale-by-owner route, selling your home at auction, or seeing if you qualify for a short sale. However, these methods require the right timing, and more energy from you, and they don’t happen as quickly as working with Rylo Homes.
Sell your house fast for cash. How does that work?
When you sell your home for cash, you are essentially selling your home directly to the buyer without going through a traditional real estate agent or broker. Our cash buyers can close on your home quickly and will work with you to create a selling timeline that fits your unique needs.
What is the Difference Between FSBO and Selling Your House to a Cash Buyer?
When you sell your home for sale by owner (FSBO), you are essentially functioning as your own real estate agent. This means that you will be responsible for marketing your home, negotiating the sale price, and dealing with all of the paperwork and other details involved in the sale. When you choose to sell your house to a cash buyer, this eliminates the need to go through the traditional real estate selling process, as the buyer will typically take care of all of those details.
What are the benefits of selling my home for cash?
There are several benefits to selling your house for cash. One of the biggest benefits is that you can avoid many of the fees associated with traditional home sales, such as real estate agent commissions. Additionally, selling for cash means that you can close on the sale much more quickly than you could if you were selling through a real estate agent or broker.
What if I don't like the Cash Offer?
If you don’t like the cash offer, you are under no obligation to accept it. Our goal is to make a fair offer for your home, and we will do our best to work with you to come to an agreement that meets your needs. However, if we can’t agree on a price, you are free to walk away from the deal at any time.
How Do You Determine The Fair Market Value Of A Property?
Before we buy houses, we will provide homeowners with a fair all-cash offer. FMV depends on many things, including location, recent sales in the area, current trends, and more. Our team of experts will do a thorough analysis of your property to determine its fair market value.
How long can it take if I want to sell my house in Kentucky through a real estate agent?
The average time to sell a house in Kentucky is 71 days. However, this number will differ based on the location of your property, the real estate market conditions, and the condition of your home. If you are looking to sell your house quickly in Kentucky, it is best to work with a real estate company that specializes in fast home sales, like RYLO Homes. We will work with you to find the best solution for your unique situation and can often have a cash offer for your home within 24 hours.
What is the difference between Market Value, Appraised Value, and Tax Value?
The market value is what a willing and informed buyer would pay for your property. The appraised value is the opinion of value for your property by a professional appraiser. The tax value is the assessed value of your property for taxation purposes. It is important to note that these values can differ, sometimes significantly. When selling your property, you will typically sell it for market value.
Who gets the most benefit from selling to a cash buyer in Kentucky?
Anyone who is looking to sell their house quickly and without any hassle will benefit from selling to a cash buyer. Cash buyers are typically investors who are looking to buy properties for a discounted price so that they can either fix them up and sell them for a profit or rent them out. This means that you will likely get a lower offer for your property than you would if you were to sell it on the open market. However, it’s a great option if you’re looking to sell quickly and without any hassle. For properties that are structurally damaged, facing foreclosure, or are in a difficult financial situation, selling to a cash buyer may be the best option.
Are there any hidden costs or fees when selling my property to RYLO Homes?
No, there are no hidden costs or fees when selling your property to Rylo Home. All of the costs associated with the sale will be disclosed to you upfront so that you can make an informed decision about whether or not selling to us is the right choice for you. This makes it easy to budget for the sale of your property and avoid any surprises down the road.
What are some tips for negotiating with a cash buyer?
When negotiating with a cash buyer, it is important to be firm on the price you are looking to get for your property. Have a number in mind that you are comfortable with and do not be afraid to counter their offer if you feel it is too low. It is also important to be prepared to negotiate other terms of the sale, such as the closing date or repairs that need to be made. With a little bit of preparation, you should be able to get the best possible deal when selling your home to a cash buyer.