Questions Memphis Homeowners Ask Before Selling

No. We Buy Houses In Memphis is an independent local company that works only in the Memphis metro. The phrase "we buy houses" is used by hundreds of unrelated buyers, and it is also the name of a national franchise with its own local owners. The name does not tell you much. What tells you something is a written offer, proof of funds, and a closing at a neutral title company or attorney's office.

At minimum, a written purchase agreement that shows the price, the closing date, who pays which costs, and how long the buyer has to back out. You should also be able to get proof of funds and the name of the title company or attorney handling the closing. If a buyer wants you to sign a deed, a power of attorney or anything else before closing, stop and call an attorney.

We look at what nearby houses sold for after they were repaired, then subtract what yours needs: roof, HVAC, sewer line, plumbing, wiring, foundation, windows, kitchen and baths. Then we leave a margin for carrying the house while the work gets done and for the risk that the work costs more than planned. The result is below a retail price for a fixed up house, and we will explain each piece if you ask.

No. Requesting an offer is free, and when you sell to us there is no agent commission. Your loan payoff, any liens and the routine closing items come out of the sale and are listed in the purchase agreement before you sign, so nothing shows up as a surprise at the closing table.

Often, yes. If you need extra time to move, we can agree on a short period after closing and write it into the contract. You can also simply pick a later closing date. Tell us what you need when you send the address. The sooner we know, the easier it is to plan.

No. We buy as is. That includes houses with roof leaks, failed inspections, smoke damage, or rooms full of belongings. Take the things you want and leave the rest for us to clear out after closing.

The owner gets a notice to correct the problem. If it is not fixed, the case can go to Shelby County Environmental Court, which can order repairs, order a demolition, or appoint a receiver. Do not ignore court dates. Missing them is how owners lose control of the outcome. If you cannot afford the repairs, selling before the court acts is often the better path.

It is a Tennessee law that lets a court appoint a receiver to fix up or demolish a blighted property when the owner does not. In Memphis these cases run through Shelby County Environmental Court. The receiver can rehab the house and the owner may be able to reclaim it by repaying the costs, and if not, the property can be auctioned. If your house has been named in one of these cases, talk to an attorney now, and talk to us about a sale before the receiver steps in.

Yes, in most cases. Send us a copy of the notice or court order and the next court date. We price the required work into the offer and coordinate with the title company so the case is handled correctly at closing. Be honest about the order. A buyer who does not know about it cannot plan for it.

Vacant houses draw break ins, copper theft, illegal dumping and code complaints about tall grass. Keep the yard cut, check on the house often, and keep enough MLGW service on to protect the plumbing in winter and to allow a walk through. Also watch the deed, which is covered in the next section.

Estates of people who lived in Shelby County go through the Shelby County Probate Court. If there is a will, the executor files it there and asks for letters testamentary. If there is no will, a family member can ask the court to appoint an administrator. A Memphis probate attorney can tell you whether full probate is needed or whether a shorter route fits your family.

Yes, but the title has to be traced to the people who own it now. That usually means identifying every heir under Tennessee law or under the will, and getting each one to sign, or getting a court order. The title company will ask for death certificates and the probate file if there is one. It takes patience, and we have bought plenty of houses this way.

When co owners cannot agree, Tennessee law lets an owner ask a court to divide the property or order it sold, which is called a partition action. That is slow and costly, so most families try to reach an agreement first, sometimes by buying out the holdout's share from the sale. A probate or real estate attorney can explain your options. We can give the family a written number to talk about.

Tennessee collects 37 cents for every 100 dollars of the price or value, whichever is higher, when the deed is recorded. A 120,000 dollar sale carries 444 dollars of tax. State law puts the tax on the buyer, but the contract can shift it, so look at which side the purchase agreement assigns it to.

Tennessee sellers give the buyer either a disclosure statement or a disclaimer statement, and the buyer can agree to take the disclaimer. Investors buying as is usually accept the disclaimer. Some transfers, such as foreclosures, are exempt altogether. Whatever form you sign, do not hide known problems. Ask an attorney if you are unsure which form applies.

Yes, if you can. Water, gas and power make the walk through possible and protect pipes in a freeze. Schedule the MLGW service to stop or transfer on the closing date, and pay the final bill so it does not follow you. If service is already off at a vacant house, tell us. We can still buy it.