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Don’t Get Scammed! |We Buy Amarillo Houses

Tuesday, August 8th, 2017

A while back I met with a homeowner and placed a bid on their house. A few days later they called and told me I had been outbid by another investor. I was surprised to hear this because I had made what I considered to be a very aggressive offer. A month later they called and asked if my offer was still good. I told them it was and we closed two days later. At closing they told me that this other investor had really given them the run-around. Once he got their house under contract he had brought in other buyers to try and sell the property before he had even bought it. Sounds crazy but it happens all the time. When he couldn’t find another buyer he just backed out.
Here are the 5 best ways to avoid being scammed:

1. Never sign an assignable contract. Do not sign a contract with the words “and/or assigns” written in it. In fact, in special provisions you should write “this contract is not assignable.” This is probably the easiest way to avoid being scammed. This will prevent an investor from trying to sell your house before they buy it.

2. Ask for references. A good company will not mind giving you references. I can give you as many as you want.

3. Verify funds. If someone advertises they pay cash for houses they won’t mind you verifying that they actually have the money to close. If they balk at this request do not work with them.

4. Ask for a short closing date. Even if you want to close in 30 days don’t tell that to the investor. Tell them you want to close in 3 days and your contract will not be assignable. You will be able to tell immediately if you are dealing with a real cash buyer or not!

5. Do not sign a contract with a long option period or a long inspection period. Anything over 5 days should be a red flag. Many new investors want long option periods so they can back out if they can’t find a new buyer. Short option periods make this much more difficult.

If any of this sounds confusing just call me and I can explain it further. When we write a contract and shake your hand we intend on closing that deal. You are welcome to call our references and verify funds. We do what we say we’ll do and our deals close on time with no problems. That’s why we receive so many referrals from happy customers. We are very much a local company. You are welcome to stop by our office for a cup of coffee anytime.

If you have a house to sell in Amarillo or Canyon give us a call. We would be happy to make you an offer. You can call us at 806-359-7653. You can also visit us online at We Buy Amarillo Houses.

Get An All Cash Offer On Your House! | Mitchell Property Group | 806-359-7653

Wednesday, February 1st, 2017

Do you need to sell your house quick fast and in a hurry? If so let us make you an all cash offer. We can close in a few days if you need us to. Do you have a house that needs a lot of work? We can buy it from you in as is condition. Do you have a nice house in a nice neighborhood and you aren’t in a hurry to sell? We can list it for you!

The bottom line is that if you have a house to sell we can help. We buy houses and we also list houses. We can even list your house and give you a written cash offer that you can decide to take at any time. Give us a call and let us help. We would love to give you some free information. No strings attached. We have been helping people buy and sell houses for over 15 years. We are easy to work with and we can give you as many references as you want. Call us today at 806-359-7653We Buy Amarillo Houses

Merry Christmas and Happy New Year!

Thursday, December 29th, 2016

The last two weeks of the year have always been my favorite. It’s just a great time of the year. Everything seems to slow down a little bit. We get to gather with our family and have Christmas. We celebrate the ending of a year and the beginning of a new year. It’s a great time to reflect, be thankful, and set new goals.

2016 was a great year for us. We added new members to our team. We helped more people this year than any other year. Once again we experienced a year of growth. And for that we are very thankful. We never take for granted God’s many blessings. I always think back to when we first started this business. It was just the two of us operating out of our home. It was such a challenge every month just to keep it all going!

We are blessed to live and work in a place like Amarillo Texas! It’s not perfect by any means, but there is no place we’d rather call home. To all of our friends, family, and clients we say thank you for another good year. We are very excited about 2017. Merry Christmas and Happy New Year!

Wade and Emmy Mitchell
Mitchell Property Group

Think Only Stupid People Sell To Investors? Think Again! | We Buy Amarillo Houses

Thursday, August 11th, 2016

I hear this a lot. “Only an idiot would sell to an investor!” Or “Why would anyone leave all that money on the table?”
I was eating lunch with my wife on a Friday at Abuelos. It is her favorite place to eat and it’s close to our office so we try to go as much as possible. My phone rang and I immediately hit silence. I noticed it was a Realtor I have worked with over the years. After lunch I called her back. This is the scoop she gave me. Her house was in a nice part of town. She had lived there for 15 years. It was not in terrible condition but it was not updated. She had found a great deal on a new home that required her to act fast. She wanted me to come give her an offer.
When I met with her to look at the house it was just as she had described. It was dated. It needed paint, flooring, and updating in the kitchen in bathrooms. It also had an older sewer line. I asked her why she didn’t just list it herself. She said “Oh honey, on a house like this it never works out like you think!” Now keep in mind that this is a very seasoned successful agent. Why would SHE sell to an investor. Because she is smart!
First of all she needed to sell fast. If she listed the house she knew it would take a few months to get closed under the best of circumstances. She also knew that homeowners would hire an inspector who would pick her house apart. It happens all the time. She knew from experience that by the time she paid a Realtor commission to the selling agent, made lender required repairs, and paid closing cost that she would end up right back at the same price that I was offering her. Besides I offered to pay ALL closing costs. In other words, she would NET the same either way but my offer was faster and much easier. Smart sellers and agents focus on the NET price, not the contract price.
The following Friday I met her at the title company and we closed. She walked out with a check and I took my wife to Jason’s Deli. It’s right next door to the title company.
There are many times when someone has a house that doesn’t need work and they have plenty of time to sell it. In those cases they should use a good Realtor. I recommend giving my wife a call. She is a great agent! But when the house needs work and time is of the essence do what the smart Realtors do… Call me!
Call 806-359-7653 or visit me online at Sell My House Fast.

We buy nice houses too!

We buy nice houses too!

Should I rent out my personal home? | Mitchell Property Group

Wednesday, July 13th, 2016

So you are buying a bigger house. Should you sell your old house or rent it out? I get this question a lot. The answer is simple. Sell it! Never rent it unless you absolutely have to. Renters will decrease the value of your home. They will not take care of it like you did. Pretty soon you will get tired of being a landlord and decide to sell it. But now it’s not your homestead so if you make a profit you will have to pay taxes. If you would have sold it while it was your homestead there is a very good chance you would not pay tax on the profit. And you will either have to make repairs to get it back in good condition or sell it at a discount. I see this all the time! If you want to be a landlord sell your house and then go buy a rent house. But never rent out your personal home. Just take my word on this!
If you need to sell your house call us today at 806-359-7653 or visit us online at Sell My House.

What Makes Us Different? | We Buy Amarillo Houses | 806-359-7653

Tuesday, April 26th, 2016

Yesterday I read online that a homeowner had a bad experience with a nationwide home buying franchise. I read both sides of the story and I honestly think that the homeowner got the short end of the deal. I want you to know that we are not your typical house buying company. Here’s why.

1. We give you at least two options. We are investors but we are also Realtors. We can buy your house or we can list your house. Every time we make an offer on a house we also give you a recommended list price. Sometimes it is better to list your house and we want you to know that. Now don’t get me wrong, we’d always love to buy it and we can do that, but we want you to know all of your options. If you have a house that needs a lot of work or needs to be sold fast selling it directly to us is probably your best option. But if your house is in good condition and you don’t need to sell it fast listing it could be a great option.

2. We give you a lot of information. We’ve always believed that when people have enough good information they can make a decision that is best for them. Every time we make an offer we tell you what we believe to be the anticipated resale value of your home. This is often referred to as the ARV or ‘after repair value.’ We tell you the estimated amount of repairs. This way you know exactly what your house would be worth in tip-top condition and what it would take to get it there. If your house is in good condition we will also tell you what the ‘as is’ value would be if we were to list it for you. We go over closing costs and Realtor fees so that know what you would walk away with if you decided to go this route. In other words, we show you several different options. We know every situation is different so we don’t offer one-size-fits-all solutions!

If you have a house that you need to sell give us a call. We would love to go over your options and show you how we can help. Even if we can’t buy it we can probably give you some great information. Give us a call at 806-359-7653. You’ll be glad you did!

Wade Mitchell
We Buy Amarillo Houses

Hydrostatic Sewer Tests | Why You Need One | Mitchell Property Group

Friday, April 1st, 2016

The camera test didn’t show anything was wrong with these 50 year old drain lines. It’s a good thing we did a hydrostatic test. We dodged a $20,000 bullet! Yes, $20,000 is what we spent to fix all the drain lines in this house.
If you buy a house with a slab foundation from me I highly recommend that you have a hydrostatic test performed. I’m talking about the test where they insert a test ball at the cleanout, a toilet is removed and the line is filled with WATER. I’m not talking about pressurizing the line with air. I’m talking about filling it with water which is exactly what the line is designed to do. This is the same test the city of Amarillo performs before they will issue a passing inspection. Some people call this a hydrostatic and some people call it a static test. In Amarillo most people call it a hydrostatic test. It doesn’t matter what term is used what matters is how the test is performed.
About a year ago I started hearing a lot of crazy things being said about hydrostatic testing. One seller told me he had heard that this test would cause sewer lines to explode and buckle the floor. Another seller told me that it would cause a perfectly good line to split right down the middle. You would have thought that plumbers had started using dynamite to test these lines! So I thought I would weigh in and try to dispel some of the most common misconceptions.

1. Hydrostatic tests are only performed in Amarillo. FALSE. They are very common in bigger cities like Dallas and Houston. Many agents in bigger cities are now advising sellers to have them done ahead of time and provide the report to their buyers.

2. Camera tests are just as reliable as hydrostatic tests. FALSE. VERY FALSE! It is impossible to see cracks in some older lines. Often times a camera test shows no problems but when work is done there are cracks found in the drain lines. Also, cameras can’t make 90 degree turns around elbows and p-traps. So you end up only being able to look at some of the lines but not all of them. Finally, most of the time standing water and junk are in the line which makes it impossible to see anything at all. Camera tests are just not reliable. I know from experience!

3. Hydrostatic tests put too much pressure on lines. FALSE. Most hydrostatic tests require filling the lines with water up to approximately 1 foot above the line. For every foot of elevation the water puts .43 lbs of pressure on the line. So the typical test puts .43 psi on the line. In rare instances they fill the water up to 3 feet above grade. This test puts less than 2 lbs of pressure on the line. If they were to fill water up to 10 feet above the line it would still only jump the pressure up to 4.3 psi.

4. Drain lines are not made to withstand this much pressure. FALSE. The burst rate for cast iron is 200 pounds per square inch. The typical hydrostatic test puts .43 psi of pressure on a drain line. Not even close. Also, if this were true, the first time anyone had a sewer back up their drain lines would explode. A sewer back up that causes a toilet to over flow puts more pressure on a drain line than a hydrostatic test. Have you ever heard of a clogged sewer line suddenly exploding? Finally, consider this… Sewer systems are made to hold water when your lines back up. I repeat, they are made to hold water, not just drain water. So how will a test that involves filling the line with water cause any harm?

5. If a pipe has a pre-existing crack a hydrostatic test will cause it to crack more. FALSE. Cast iron pipe that is not packed in dirt has a burst rate of 60 psi. Way below the pressure exerted by a hydrostatic test. If the pipe is packed in dirt (like all sewer drain lines are) the burst rate is even higher. So there is no way that the test is causing more damage. It should also be noted that if a pipe has a pre-existing crack it is already bad. The test is just revealing what is already there.

Over the last 15 years hydrostatic sewer testing has saved my bacon more times than I can count. I know there are different opinions out there and that is fine. I respect everyone’s opinions even if I disagree. I encourage everyone to do their own research and form their own opinions. But form your opinion from facts that are based on physics. Don’t just believe what you hear. The bottom line for me is this… If there is a problem with a house I want you and your family to know about it up front so that I can fix it or you can buy another house. If you buy a slab house from me get a hydrostatic test!

Wade Mitchell
Mitchell Property Group
806-359-7653

Mitchell Property Group

Mitchell Property Group

Real Estate Investor VS Realtor | Mitchell Property Group

Thursday, January 21st, 2016

Real Estate Investors are an interesting lot. Most of them are fiercely independent and extremely stubborn. They have Maverick personalities and are not big on rules. They always think outside the box. Most of the good ones I know have a knack for being able to quickly analyze a deal and pull the trigger.

Realtors are also a very interesting group. Most of them are very “by the book”. They like to follow the rules and have a difficult time thinking outside the box. Not all of them but many are this way. The good ones have the ability to put their ego aside and get a deal to the closing table.

Every day I get to work with Realtors and Investors. It can be very interesting at times to say the least! Most of them are top-notch. Emmy has a classic Realtor personality and I have a classic Investor personality. I help her to think outside of the box and she keeps me out of jail!

The cool thing about our company is that we are able to offer our clients both options.  I can make an all cash offer to buy the house as is. Emmy can show them what she could list the house for and they can compare options.  Either way we are happy to help.  Sometimes people are on the fence and have a hard time deciding which way to go.  In that case we always recommend listing the house first to see if it will sell.  If it doesn’t sell they can always take my cash offer at any time and we will waive the Realtor fees.  This lets our clients try to sell their house for as much money as possible while knowing that at any time they can sell the house to me if they need to.  Pretty cool huh?

If you have a house that you need to sell or list or maybe a combination of the both call us.  I guarantee you we can help!  Call us today at 806-359-7653 or visit us Sell My Amarillo House.

Mitchell Group-7

 

Give your Realtor a break! | We Buy Amarillo Houses 806-359-7653

Monday, October 19th, 2015

I just got a call from an angry seller. He said he had listed his house with a Realtor who was doing a terrible job. They had received a contract on their house. The contract stated that it was an as is sale but during the inspection period the new buyer discovered that the roof had hail damage. This meant that the house was not insurable. According to the contract the buyer could now either renegotiate or back out. The seller believed all of this was his Realtor’s fault! He believed that she should have convinced the buyers to go ahead and buy the house because it was an as is sale. He said he would rather just sell it to me and not tell his Realtor. This really upset me. You see, I’m married to a Realtor and I know how hard the good ones work. I asked for the address and pulled it up on the MLS. As it turned out this particular agent was doing a wonderful job marketing his property. And she had given him great advice on how to price it. I informed him that I would never go behind his agents back and buy his house. Besides being unethical, it is illegal. I also told him to just file an insurance claim and fix the dang roof!
I see this type of thing all the time. Many times Realtors get blamed for things that are out of their control. If a house is overpriced or in terrible condition the best Realtor in the world can’t sell it. In my opinion this is what a good Realtor will do. They will advise you on the proper list price. They will advise you on any repairs that need to be made before you put the house on the market. They will market the house aggressively. They will advise you when you should lower your price. They help you through the negotiation process and most importantly they help get the deal closed. But they are not miracle workers so give them a break!
I have to admit that I have seen some agents who do a very bad job and that is a completely different story. If you have a bad agent you have some real problems. Once your listing agreement expires call me. Until the listing agreement expires they will be owed a commission if the house sells.
If you have a house that you need to sell call me! We will happily cooperate with your agent if the house is listed. We work with Realtors every day so it is not a problem. You can visit us online at Sell My House or call us at 806-359-7653.

Mitchell Property Group | Do You Need Help With Real Estate?

Thursday, September 3rd, 2015

Wade and Emmy Mitchell, Mitchell Property Group

How can we help you? Do you have a Real Estate problem that you need help with? Maybe you don’t need to sell but you have a different kind of problem? Here are some common questions that we get:
1. Who is a good real estate attorney?
2. Do I need to probate this will or is there another way that is cheaper?
3. How to I write a contract to sell my house to my friend?
4. Should I sell my house or rent it out?
5. Should I make improvements or sell my house as is?
6. How do I sell my house on my own?
7. Should I sell my house to an investor or list with a Realtor?
We don’t mind helping you with any question that you may have. We have been in business for a long time and we have seen all sorts of unusual situations. If we don’t know that answer we probably know of someone who does! Give us a call at 806-359-7653 or visit us online at Mitchell Property Group

 

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Contact Information

4105 SW 34th St, Amarillo, TX 79109 | 806-359-7653

wade@mitchellpropertygroup.com | emmy@mitchellpropertygroup.com