How real estate investors help attorneys
Attorneys play a key role in real estate transactions. But for them to fill that role, a deal has to go through. As a result, many attorneys – estate, real estate and elder care – reach out to real estate investors, such as Handsome Homebuyer, who specialize in buying houses. We at Handsome Homebuyer bring professionalism, expertise, cash (we don’t need to apply for a mortgage) and speed. Attorneys’ clients get a good, quick deal that goes through, rather than ending up in an endless labyrinth where time and money is lost. Attorneys get fees as well as the satisfaction of serving their client. Here’s a look at reasons that attorneys often a house flippers, like Handsome Homebuyer, can be the perfect way to benefit their client while also earning a fee when it comes to the sale of a house or property.
Working with Estate attorneys
Estate attorneys’ clients often inherit real property as well as money and securities. But their clients can’t sell a house, or a building, with the ease of selling stock. You can’t just push a button. So selling a property is at once an asset and, at least in the short-term, a potential problem. An inheritance has to be monetized: A house or a building has to be sold. What’s the best way to do that? When estate attorneys help their client look for buyers, that can lead them to Handsome Homebuyer, specializing in Long Island and New York City, or other real estate investors. Estate attorneys refer clients regularly to Handsome Homebuyer, as well as other real estate investors. We purchase the house, so the client gets a good price, a good process and quick cash while avoiding carrying costs. And if we purchase the property, the attorney gets a fee from us. Plus we’re experienced in doing deals regarding inheritances, with multiple owners. We’ve been down this road before and know how to get deals done.
Working with Real Estate attorneys
In addition to working with estate attorneys, we work with many real estate attorneys. Someone will say, “I have a deal. Do you know anyone who will take it?” They’ll call us. Real estate attorneys typically have relationships with Realtors. Let’s say a deal is in contract and it dies for any number of reasons. Another investor was going to buy it and they didn’t have the financing. That might be an investment type deal or retail deal that would work for us. The real estate attorney will say they should give us a call. A real estate attorney may be looking for investors to buy houses. Or an investor unable to close on a deal may ask the attorney if they know somebody. All these roads can lead to Handsome Homebuyer. We have the resources, the expertise and the funds to close real estate deals.
Working with Elder Care attorneys
In addition to estate and real estate attorneys, we also do a lot of work with elder care attorneys. They use us as a value proposition or resource for their clients. When someone passes away, there is a lot to do and often a desire to do it right, but also relatively quickly. Various attorneys are involved in real estate deals, making a real estate investor a good go-to resource. Attorneys do the estate work, the probate work and the will. They’re the first to know when a property is inherited. Depending on the condition of the house and the circumstances of the family, they may reach out to Handsome Homebuyer to come in and make an offer. We did one of those deals last week. They occur frequently. We can be an important part of the process, making sure a house turns into a source of profit and not just a problem.
Brokers as of right
Attorneys are seeking to serve their client. And we can help with that. But there is an additional benefit for attorneys who work with us. Attorneys often are brokers as of right. When you become an attorney, you automatically get your real estate license, so you’re a real estate broker. As a result, attorneys can be paid a commission from us when we complete the transaction. Some go with a percentage or a flat fee that we take off the top of the offer. We seek to serve the attorney’s client as well as the attorney. And since we hope to establish a relationship, leading to future transactions, we do our best not only to do a good deal, but to satisfy everyone involved.
A death in the family can be an emotional time, surrounding the sale of a house. The family might want to do a deal quickly, avoiding a prolonged process and carrying costs such as insurance and maintenance. Handsome Homebuyer can close quickly and with cash, avoiding the bureaucracy and uncertainty of a mortgage. The size of the sale has no bearing on the deal. And we can handle all conditions. Typically, when you buy a property through an estate, for instance, it’s filled with possessions. We take the houses as is with their contents in them and dispose of them at our cost. Just last week, Handsome Homebuyer bought a house after the son and daughter who inherited it moved to Texas. They didn’t have the means or desire to deal with a sale in the New York metro area. They wanted a check and they wanted to move on. We provided them with a quick, efficient process that let them get money without waiting for months.
Old properties, new deals
The condition of the property in an estate can be less than perfect, complicating sales. An inherited house can be dated or in very poor condition. There could be tenants in the property who are paying or not paying. The heirs have no experience and/or desire to manage tenants. The property must be sold per the will. The clients want it done quickly. There might be disagreements between the heirs. One wants to keep it and one doesn’t. The one who wants to keep it doesn’t have the money to buy out the other’s interest, so it needs to be sold. All of these can make a real estate investor like Handsome Homebuyer, prepared to renovate, an ideal buyer. We’re a good value add to an attorney’s services. The attorney’s clients appreciate that they get a cash buyer who can close quickly and the attorney gets a referral fee.
Who we work with
Sometimes we deal directly with the attorney, but most of the time, we deal with the executor or executrices. They discuss the deal with other people in the estate. One deal we just did was for a house that wasn’t mortgageable. Since both of the heirs lived out of state, they didn’t have the means to clean the house out or make repairs. We were able to purchase the house as is with all the contents and close in less than thirty days. We purchased another house two weeks ago with three heirs. The property was dated and had a lot of permit violations. A lot of issues needed to be resolved with the town. A finished basement didn’t have a permit. There was a violation for an illegal basement apartment. A bathroom was installed without a permit. It would have taken them a lot of time and cost them significant money to deal with these things. We bought the house as is with the violations and missing C of Os with no problem.
When you work with professionals, you save time. That means less time spent by the client and the attorney and less awaiting closing. Attorneys know that we can look at something and get back to them very quickly with a precise offer. We can tell them why we like the property or why we don’t and can explain why we have to buy it for this amount of money. There’s no lag. It’s the same day. And at Handsome Homebuyer, we understand your reputation is everything. If you’re an attorney and you refer your client to us, we have to perform at or above expectations, to make sure your reputation is maintained and that we enhance your business – and ours. We understand that your reputation is on the line when you recommend or refer a deal. The attorney’s and the Realtor’s reputation are our number one concern. And we maintain that by providing good service and a good deal for your clients. Therefore, we always exceed expectations when referred by any referral partners. We value your reputation and customer experience. You’re able to help your client, which also helps your business. Your client gets a deal and you get a referral fee or a commission.
While for the person selling a house, land or building, the deal may be rare or even once or twice in a lifetime, for attorneys, these can be business as usual. That means it can be important and useful to have an infrastructure, or a network, of buyers ready to go. Some lawyers come to us all the time with everything they have. We have done a tremendous amount of networking to start relationships. The results of our work, however, help build the relationships and our business. One reason we can do so many deals is we get regular referrals. I recently sponsored an attorney and accounting group’s networking breakfast. I meet attorneys and get referred by other people via social media. But our work is what keeps attorneys returning to us, building their reputation and serving their clients. Rather than reinventing the wheel for every deal, it may make sense for attorneys to start with someone who buys hundreds of houses. We don’t need as big a margin, since we do so many deals. And we have the money, the will and the resources to close a deal, so the attorney and the client walk away satisfied with what occurred.