A local real estate investment firm known throughout the state as HBR Colorado has recently stated: "We buy houses in Denver with cash in as little as 10 business days." A spokesperson from the company, Brian Rudderow CEO and owner, was contacted for a statement and he said: "We cover 100% of the closing costs on each and every single transaction that we participate in." Their company buys homes and rehabs them and then relists them back on the market to earn a profit.
Rudderow's company purchases homes in the Denver Metro Area with cash and then allows the sellers to remain in the property for up to 30 days. He even helps them move and sell their belongings. One Arvada woman wanted to sell her house to get away from a harassing neighbor and he made her a cash offer of $275,000 and closed the deal in just under three weeks. In the meantime, he repaired the woman's car, sold her boat, Playstation 4, and snowblower all while not even charging a fee for doing so. The woman was able to get the money she needed after paying off her mortgage to get her car insurance reinstated and then find a new place to live.
Many other investors will charge the seller rent for the month that they are occupying the property, but not Rudderow's firm. HBR Colorado simply will hold $2,500 in an escrow account at the title company and then as soon as the seller moves out the money is released via bank wire directly into their accounts. This is to prevent sellers from taking advantage of the situation and overstaying their welcome while not having to pay rent.
With the added convenience of selling to a real estate investor, Denver homeowners are able to skip the entire painful process of cleaning up the home, making repairs, throwing out the trash, getting rid of junk, and getting the property ready for sale. Why go through all of that trouble when it's much easier to sell your home at a bit of a discount to a cash buyer and then let them make the repairs. A lot of sellers will want to cash out and get out from under their home, especially when the Denver real estate market has been on such a strong uptrend for a very long time. Most people who bought their homes a decade ago after the market crashed are now cashing in on some very profitable market appreciation. Sellers who have benefited from the huge appreciation in the Denver market can sometimes afford to sell at a discount to an investor because they have so much equity built up into the property.
SOURCE: Press Advantage [Link]
HBR Colorado is a professional home buying company based in Colorado Springs, CO who buys houses with cash in one week flat all throughout the state of Colorado.
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