Frequently Asked Question
What to Expect?
Have questions? Most sellers do, especially if it’s your first time with a cash buyer. Here are our most common FAQs – and if yours isn’t listed, just ask!
No. We are direct buyers, not real estate agents. There are no commissions or listing fees when you sell to us. In fact, we typically pay all closing costs, too. You won’t pay for the title company, recording fees, etc. The offer we give is the amount you’ll receive at closing (minus any mortgage payoff or taxes owed, of course). There’s no catch and no hidden fees. Our profit comes after we buy the house and improve it – not from charging you fees.
How does Revive determine the offer price for my house?
Great question – we believe in being transparent about this. Our team will look at the current condition of your property, what repairs or updates it may need, and the value of comparable homes in your neighborhood (after those repairs). We basically start with the estimated future value of your home (once it’s fixed up to typical market standards), then subtract the costs for renovations and a small margin for our effort. We’ll show you this breakdown. We strive to offer a fair price that works for both parties. Keep in mind, we take on all the risk and future effort with the property, and you get the convenience of a guaranteed, fast sale. If you ever feel our offer doesn’t meet your needs, tell us – sometimes we can adjust things like closing date or other terms to add value, or we can simply part as friends. No harm, no foul.
Is there any obligation when you make an offer?
Absolutely not. Getting an offer from us does not lock you in to anything. You have 100% freedom to decide whether to accept or decline. We often encourage homeowners to take their time (within reason, of course, since we have to plan our buying schedules too). If you choose not to accept our offer, that’s okay – we won’t pester you. In fact, we might even be able to give you some tips on other options. We’ve had sellers come back to us weeks or months later after exploring other routes. Our door is always open. The offer is simply information for you to consider.
What if my house is really dirty or needs a ton of repairs?
That’s perfectly fine! We buy houses in any condition. You do not need to clean, renovate, or even empty the trash. We’ve purchased houses with trash up to the ceiling, houses that had animals living inside, houses that haven’t been updated in 50 years – you name it. Don’t worry that your house will scare us away; it won’t. And it won’t offend us, either. We have contractors and cleaning crews as part of our extended team who will handle everything after closing. Focus on what you want to take with you, and we can deal with the rest. (And yes, we’ve even encountered houses with unwanted items like old furniture or vehicles – we’ll manage the removal of those too.)
Are you going to list my house on the MLS or actually buy it?
We (Revive Realty Group) are cash buyers/investors, and we intend to buy your house directly. We do not list your house for sale or act as agents. This is an important distinction. When you accept our offer, we sign a purchase agreement where Revive Realty Group is the buyer. We either buy it with our own funds or with funds from our investment partners. You won’t be dealing with any third-party buyers. Occasionally, after we have a contract, we might bring a partner, contractor, or even another investor to see the house – but that’s just part of our assessment process or financing process. You can rest assured we are the ones buying your home, and you won’t be stuck waiting for us to “find a buyer” or anything like that. No, it’s a done deal with us.
What if I need help moving or finding a new place?
We know that selling a house is intertwined with moving. While we aren’t professional movers, we’ve got a lot of contacts and we’re happy to help you with resources. Need a reputable moving company? We can recommend a few. Need some extra time after closing to move out? As mentioned in the Timeline section, we can often arrange a short rent-back period so you aren’t scrambling. If you’re local, we might even be able to physically lend a hand for a few hours (we’ve been known to do that for elderly sellers or those who need a bit of muscle – we’re humans first, homebuyers second!). And if you’re struggling to find a new place, let us know the situation; we have a network of real estate professionals and property managers we can tap to assist you in locating housing. Our goal is to ensure the transition is as smooth as the sale.
Can you really close that fast? What if something goes wrong?
We stake our reputation on closing deals as promised. When we say we can close in a 3 days or on a certain date, we mean it. The only things that sometimes delay a closing are unforeseen title issues (like we discover an heir or a lien that no one knew about). Even then, we work rapidly to resolve those. We keep you informed at every step. Since we’re experienced, we often foresee any potential hiccups and address them proactively. Our track record is excellent – we close on the vast majority of offers we make, without delays. And remember: you won’t be left hanging. If an unexpected issue did arise and it affected the timeline, we’d communicate and make sure you’re taken care of (for example, if a delay was our fault and you incurred an extra expense because of it, we’d look at covering that – we aim to be fair and do the right thing).
What if my house is in foreclosure or I’m behind on taxes?
We specialize in those situations (see our Foreclosure section). Yes, you can still sell your house in foreclosure as long as the auction hasn’t happened yet and the redemption period isn’t over. We can even buy during the redemption period in Michigan, paying off the foreclosure sale amount plus any additional fees – that’s complex, but we can do it if needed. If you’re behind on property taxes or there are liens, that’s okay – it will be handled at closing. Typically, any owed taxes or liens get paid out of the sale proceeds (essentially, from the money we pay you). We’ll calculate that and explain it when making an offer. We have handled properties with tax delinquencies, utility liens, homeowner association liens, etc. None of that scares us away. We will just ensure that the offer accounts for settling those debts so you aren’t stuck with them. You won’t have to personally pay those before selling – we arrange it so it’s taken care of at closing.
What if my house is in foreclosure or I’m behind on taxes?
We know the reputation of the “we buy houses” industry can be mixed – and skepticism is healthy. We encourage you to check out our testimonials and success stories (see the About Us section). We’re a local Michigan company with real people who genuinely care. We have helped many homeowners in tough situations, and we do what we say. We’re also transparent: no lowball offers just to renegotiate later, no high-pressure tactics. And importantly, we operate with integrity – as a Michigan business, we abide by all state regulations (for instance, Michigan’s Credit Services Protection Act, which means we never charge upfront for foreclosure assistance – we only make money when we successfully buy and improve a house). Our contracts are straight-forward, and we encourage you to have an attorney review anything if you want. In short, we treat you how we would want to be treated. Our reputation is our business, so we won’t risk that.
Homeowner FAQs
How far behind on my mortgage can I get before the bank starts foreclosure in Michigan?
Typically, most lenders won’t initiate foreclosure until you are at least 120 days delinquent (about 4 months behind). This 120-day rule is actually part of federal mortgage servicing laws. It gives homeowners a chance to apply for loss mitigation (like a loan mod or repayment plan) before foreclosure starts. However, once that period passes without a resolution, the lender can proceed with publishing a Notice of Sale in the newspaper and scheduling the sheriff’s sale. So, practically speaking, by month 5 of no payments you could be facing foreclosure. We strongly advise contacting your lender or a housing counselor well before that point if possible. And if you’re in months 3-4 with no solution in sight, reach out to us – we can still help you before it goes to sale.
What is the “redemption period” I keep hearing about?
The redemption period is a set time after the foreclosure auction (sheriff’s sale) during which you can still save your home by paying off the debt. In Michigan, for most residential foreclosures, the redemption period is 6 months. If the property is abandoned, it can be shortened to 30 days. Some situations allow a 12-month redemption (for example, if you’ve paid off a large portion of your mortgage or if the property is large/agricultural). During the redemption window, you have the right to remain in the home. To redeem, you’d typically have to pay the full auction sale price plus interest and fees – basically making the buyer whole. It’s rare for homeowners to redeem, because it requires a lot of money or new financing. But the period does give time to, for instance, arrange a sale (you can still sell your home during the redemption period – essentially you’d be selling your right of redemption to a buyer like us who would then redeem from the auction buyer). It also gives you time to find a new place if you are going to move. After the redemption period ends, if you haven’t redeemed, the new owner (often the bank) can move to evict you. Bottom line: that redemption clock starts the day of the auction. It’s a grace period, but don’t rely on being able to find money to redeem – instead, use that time to either sell the house or negotiate “cash for keys” (where the bank pays you to vacate peacefully). We can help with either approach.
If I sell my home to avoid foreclosure, will it hurt my credit?
Selling your home before the foreclosure is finalized is generally a much better outcome for your credit than a foreclosure. A foreclosure can stay on your credit report for 7 years and severely impact your score. If you sell via a normal sale or short sale, there’s no “foreclosure” reported. Your mortgage would be reported as paid off or settled. Your late payments up to that point still hurt your credit, but the sooner you resolve the default, the sooner you can start rebuilding. Many people who avoid foreclosure by selling are able to get new financing (like a car loan or even a mortgage) much sooner than if they had a foreclosure or bankruptcy. Important: if you do a short sale or your lender forgives some debt, ensure in the agreement that it’s marked as settled with no further balance – that way it’s concluded cleanly on your credit. Also, sometimes lenders will not pursue late payments for deletion even after sale, but over time the impact of those fades. In summary, while any delinquency has some effect, avoiding the public record of foreclosure is a big positive. And if you work with us to sell, we can often negotiate with the bank to delay reporting or update the status to paid. We’ve had clients get back to good credit standing in a year or two after a proactive sale, versus the long shadow of foreclosure.
What’s the difference between a short sale and a foreclosure on my record?
A foreclosure is a legal process and will appear on public records (and credit report) as such – it’s quite damaging. A short sale is essentially a negotiated sale before foreclosure where the bank agrees to accept less than owed. On credit reports, short sales are typically marked as “settled for less than full balance” or similar – not as severe as foreclosure. Future lenders often view someone who did a short sale more favorably than someone who went through foreclosure, because it shows you took responsibility and worked something out. Plus, with a short sale, you often can be eligible for a new mortgage in as little as 2 years (with some programs), whereas with a foreclosure it could be 5-7 years. There’s also personal dignity and stress level – a short sale is something you participate in and have some control over, while a foreclosure is the bank forcing the issue. Whenever possible, we encourage short sales over simply letting a home go to foreclosure, and we help facilitate them.
Can Revive help me if I’m in bankruptcy?
If you’ve filed Chapter 7 or Chapter 13 bankruptcy and want to sell your home, it’s doable but a little more complex. In a Chapter 13 (repayment plan bankruptcy), you typically can’t sell without court approval since the home is part of the bankruptcy estate. However, many Chapter 13 plans are designed to save the home; if that’s failing, you might convert to a Chapter 7 or seek dismissal to sell. In a Chapter 7, the bankruptcy trustee might actually sell the home for you if there’s equity to pay creditors, or abandon it if there’s no equity. We have experience working with bankruptcy attorneys to arrange sales. The key is coordination with the court. If you’re in an active bankruptcy, we definitely need to loop in your attorney or trustee. But yes, we can still make an offer and even buy the home out of a bankruptcy estate (with proper approvals). We strongly advise not to wait until last-minute in these scenarios; let’s discuss and plan with your lawyer. If you haven’t filed yet but are considering it, selling your house for cash could be an alternative to explore first – sometimes it provides the funds needed to settle debts outside of bankruptcy.
I owe more than my house is worth. Can I still sell it?
Yes, this is essentially the definition of a short sale (mentioned above). You’ll need your lender’s approval to sell for less than the mortgage balance. We can help facilitate that by working with your lender’s loss mitigation department. Another scenario: if the difference is not huge, sometimes we can actually cover the gap in our offer or find a way to make the numbers work so that the mortgage is paid in full. Every situation is different. The first step is for us to evaluate the home and see what it’s currently worth vs. what’s owed. Then we’ll present options: maybe a short sale submission, maybe bringing some funds to closing (from either you, or perhaps we can increase price if the deal allows). Don’t be discouraged – many people are underwater, and it’s possible to get out from under that burden with the right approach.
Will I get any money if I’m in foreclosure?
Why shouldn’t I just list with a Realtor?
You absolutely can list with a Realtor, and in some situations that’s a good choice (if your house is in great shape, you have plenty of time, and you’re okay with the process). But many of our clients come to us because listing is impractical for them: maybe they need a fast sale, or privacy, or they can’t or won’t make repairs an average buyer would demand. Realtors provide a great service for the right scenario, but they can’t guarantee a sale or control the timing, and their process comes with inconveniences (showings, open houses, etc.) and costs (commissions, possible repairs or staging). We offer a different service – more of a direct, convenience sale. Think of it like trading in a car versus selling it yourself; the trade-in is a bit less money but very easy and immediate. With that said, we have a network of excellent local agents we trust – if we ever feel that you could genuinely do better by listing and you have the ability to go that route, we will tell you. We’ve even referred a few callers to agents when a cash offer wasn’t their best route. We want happy customers, even if they don’t become customers! So, weigh your options. Many folks try the agent route first and, if it doesn’t pan out, then come to us. We’re here as a safety net or first choice – whichever way you want to use our service.