Answers
Questions homeowners ask before they call
If yours is not here, call and ask. We would rather answer it before you sign anything.
Whether we are legitimate
Is Luis Buys Homes a real company?
Luisbuyshomes. We have been buying houses since 2019 and have purchased over 500 properties across New Jersey, New York, Connecticut, Pennsylvania, Maryland, and Florida. Our underwriter, Ravi, reviews every property before we make an offer, and you can see the rest of our team on our About page. We answer the phone from 9am to 7pm Eastern, Monday through Saturday.
Are you a wholesaler? Will you sell my information to other investors?
We are the buyer. We write the offer and we sign the contract. Your information stays in our office, we do not send your address or your situation to a list of investors and let them decide what to do with your house. If you have filled out forms on other sites and been called by five different people in two days, that is what happens when a company collects leads instead of buying houses.
Are you real estate agents?
No. Luisbuyshomes is a private buyer, not a licensed real estate brokerage. We do not list houses, we do not represent buyers or sellers, and we do not charge a commission. We are also not providing legal, tax, or financial advice, you are free to have any offer reviewed by your own attorney, and we would encourage it.
Why does your phone number have a Philadelphia area code?
Because that is our main line and it is where this company started. Our team works remotely, with people on the ground in New Jersey and New York who come to your property in person. We would rather tell you that plainly than pretend to have a storefront down the street from you.
Can I do this in Spanish?
Yes. Several people on our team speak Spanish, so the whole thing can happen in Spanish if that is what you prefer. The first call, the walkthrough, the conversation where we explain the number, and closing day. Say so when you call, or check the box on the form and we will have someone who speaks Spanish call you.
How the offer works
How do you decide what to offer for my house?
Ravi, our underwriter, looks at four things: what your house would be worth once repaired, what the repairs would actually cost, what it costs us to hold and carry the property, and our margin. He walks through all four with you on the phone. Our page on how an offer comes together explains each one in detail.
Will my offer change at the last minute or at closing?
No. What we offer is what we sign. There are no last-minute deductions, no renegotiation after an inspection, and no bank to delay things, we are not applying for a loan to buy your house.
Do you actually put money down?
Yes. We put a deposit down when the contract is signed, held by the title company or attorney rather than by us. This matters more than it sounds like it does. The most common complaint about this industry is buyers who tie up a house with a signature, never put any money at risk, and walk away weeks later leaving the seller further behind than when they started. A deposit is money we lose if we do not perform. Ask any buyer you are talking to whether they put one down.
Is your offer less than what I would get listing with an agent?
Usually, yes. If your house is in good condition and you can afford to make repairs and wait a few months for the right buyer, listing with an agent will probably put more money in your pocket. What you get from us instead is speed, certainty, and not spending a dollar or a weekend on the house. Ravi will tell you honestly if he thinks listing is the better move for you. That happens, and we would rather say so.
My neighbor's house sold for more than you are offering me. Why?
Because the number on public record is not what your neighbor walked away with. Out of that figure came their closing costs, whatever repairs they made to get the house ready, and often a credit back to the buyer at the table. What you are comparing is a gross sale price against a net number. Our offer is what lands in your hands, Ravi will walk you through exactly what is in it and what is not, and you can hold that up against the real net on any sale you want to compare it to.
Am I obligated to accept?
No. There is no obligation at any point, and our number does not expire at midnight. If it is not right for you, that is a complete answer and we will leave you alone.
Who pays the closing costs?
We pay the standard closing costs on the purchase, transfer taxes, title, and recording. You do not pay a commission and you do not pay us a fee. What does come out of the sale price is anything already owed on the property: your mortgage balance, unpaid taxes, water and sewer, and any liens. Those are paid off at closing out of the proceeds. Ravi walks through all of it with you before you sign anything, so there are no surprises at the table.
Your situation
My house needs a lot of work. Is that a problem?
No. We buy houses as-is. You do not need to clean, repair, paint, or remove anything, including whatever is in the basement or the garage. Ravi expects to find work that needs doing, that is what he is there to price.
I inherited a house and it is going through probate.
This is one of the most common reasons people call us, and we have closed these across the states we buy in, through Surrogate's Court in New York and New Jersey, Probate Court in Connecticut, the Register of Wills and Orphans' Court in Pennsylvania and Maryland, and the Circuit Court in Florida. The estate has to be settled before the house can transfer, and that timeline depends on the court rather than on us. We can work around it. Tell us where the estate stands on the first call.
There is a foreclosure or sheriff's sale date coming.
Tell us the date on the first call, because it changes everything about the timeline. We have closed on properties with a sale date already set, several times. The earlier you call, the more room there is to work with.
I have tenants who will not leave.
We buy occupied properties regularly. You do not need to evict anyone before selling to us, and you do not need to have that conversation with them yourself. Tell us what the situation is, whether there is a lease, whether rent is being paid, and Ravi factors it in.
I owe more on the mortgage than the house is worth.
Tell us on the first call. It changes what is possible, and Ravi would rather find that out early than have either of us waste time. There are situations where this still works and situations where it does not, and you will get a straight answer either way.
I live out of state. Can I still sell you a property here?
Yes, and it is common, especially with inherited properties. You do not need to fly in. Our representative walks the property, and your side of the closing is handled by your attorney or by the title company, depending on the state.
The closing
How fast can you actually close?
We close within 20 business days, about four weeks, and you choose the date. If you need longer because you are waiting on the court or finding your next place, that is fine too. Anyone promising to close in one day is not being straight with you, a title search alone takes longer than that.
Do I need my own attorney?
It depends on the state. In New York, New Jersey, and Connecticut, real estate closings are handled with attorneys involved, and you will have your own. In Pennsylvania, Maryland, and Florida, closing is normally handled through a licensed title company. In every state you are welcome to have your own attorney review the contract before you sign, and we would encourage it. We would rather you signed something your attorney had read than signed something quickly.
How long is the contract?
Three pages. Not fourteen pages of small print. Have your attorney read it before you sign, we would rather you did.
What do I have to do to get started?
Give us the address. That is the whole first step.
Something we did not answer?
Call (215) 770-0846 and ask. A person answers, 9am to 7pm ET, Monday through Saturday.