On average, it can take a few weeks to a month. But we close on your timeline.

No! We buy AND sell houses without real estate agents all the time. A real estate agent is good for first time home buyers and sellers who don't have the recourses to buy or sell a home.

Prestige Elite Properties stands out for several reasons. First and foremost, we prioritize our clients' trust. Our team of experts who are passionate about helping and guide you through. Additionally, our commitment to transparency, integrity, and building lasting partnerships sets us apart. We're not just a service provider; we're your dedicated partner in the world of real estate and your success is our primary focus.

Closing costs are fees associated with the home sale and average to 8%. Both the buyer and seller typically share these costs but could be negotiated between buyer and seller on who pays.

Yes, you can. We'll buy your home completely "as-is".

Yes, it's possible. We can help coordinate showings and manage the process to accommodate your living situation.

A contingency is a condition that must be met for the sale to proceed, such as a satisfactory home inspection or securing financing.

During closing, legal documents are signed, funds are transferred, and ownership of the property is officially transferred to the buyer.

It's determined by location, most recent comparable sales in the area, factoring in any unique features or upgrades, and analyzing other market conditions.

"Subject-To" is a way of purchasing/transferring real estate where the buyer takes title to the property, and the existing loan stays in the name of the seller. In other words, the sale is completed "Subject-To" the existing financing. The buyer now controls the property and makes the mortgage payments on the seller's existing mortgage.

Yes. Fill-able HUD-1 This is a standard form that title/escrow companies and attorneys use to build settling statements. Please note lines 203 and 503. Note this is a Code of Federal Regulation (CFR) document. Page 396, second paragraph states: "Line 203 is used for cases in which the Borrower is assuming or taking title subject to an existing loan or lien on the property

Every Seller is in a different situation. Some sellers may consider utilizing the Subject-To method in pre-foreclosure, considering a short sale, or low equity situations as it allows them to sell of the property without the need for additional funds or having to write a check at closing. Depending on the seller's mortgage balance, this method may result in greater financial gain for the seller compared to a traditional sale. Additionally, it enables the seller to move on from the property as they are no longer responsible for expenses such as repairs, maintenance, utilities, taxes, insurance, and HOA fees. The seller's credit score is in the position to improve as a result of timely payments being made towards the mortgage.

The buyer engages the services of a third-party loan servicing company, which is responsible for facilitating the monthly mortgage payments. Additionally, the sellers have the option to elect to receive notifications on a monthly basis, indicating that the mortgage payments have been fulfilled.

It is standard in our purchase process to provide a Deed of Trust and Promissory Note, that gets recorded by Title, in the seller’s name. Should the seller ever need to foreclose, these documents make it a smooth process to take back possession of the property. The seller would then benefit from any payments made towards the loan, improvements made to the property, and appreciation in the property's value. They may then choose to sell the property again for a higher value if desired. It’s important for the seller to understand that our company doesn’t see a return on these properties until the day we sell them. So, we have every reason not to let this happen.

As long as we can! Unless we sell it or refinance for a lower interest rate, we advise the sellers to anticipate maintaining their name on the mortgage until the mortgage balance is fully settled. However, as company policy, the typical holding period is around 7-10 years.

As long as the loan remains in the name of the seller, timely payments will be made to the lender reporting to the credit bureau that all payments are up to date and at good standing. Positively impacting the seller's credit score.

Our transaction coordinator will be responsible for replacing your current policy with our policy, which includes the addition of the sellers as additional insured parties. This will not only ensure our coverage under the policy, but also provide coverage for the sellers. We will take the necessary steps to transfer utility services into our name.

Contact our team! We would love to chat and see how we can help.