home sold

Frequently Asked Questions

If you have questions for us at Lee Equities, you’re visiting the right page.

You’ll find the answers to our most frequently asked questions here that might give you the exact information you need.

If you don’t find the answers to your questions on this page, we’re more than happy to answer your questions personally.

Just give us a call at 313-454-1190, or fill out our convenient online contact form anytime.

  Q: Who is Lee Equities?

 A: We’re a corporation with a home base located in Southfield, MI. We’ve been involved in the real estate industry in the Metro Detroit area since 2003.

  Q: How do I get Lee Equities to make me an offer on my house?

 A: Fill out the home seller form and a Lee Equities professional will contact you.

  Q: Are there any fees or costs associated with selling my house?

A: No. We will make you an offer without real estate agent fees or commissions.

  Q: Will I have to pay a fee for you to visit and make an offer on my house?

A: Absolutely not. You won’t have to pay a dime to have one of our professionals answer your questions, visit your house, or make an all-cash offer for your house.

  Q: How does the house buying process work?

A: Here’s our process:

  1. You give us some brief information about your house by calling us at 313-454-1190, or by filling out and submitting our convenient website contact form.
  2. One of our professionals will contact you quickly to arrange a visit to your house.
  3. Our professional will explain the entire selling process to you, and answer all of your questions before evaluating the condition of your house and making a fair cash offer.
  4. If you accept our no-obligation cash offer, we’ll quickly set up a closing so you get your cash fast.

  Q: How do you determine the exact price you’ll pay for my house?

 A: Our professionals consider a variety of factors when determining a cash price for your house. Prior to your consultation and answering your questions, we will evaluate:

  1. The current condition of your house
  2. The cost and extent of repairs and renovations required
  3. The amount of time it will take to complete needed repairs and renovations
  4. The retail value of your house compared to others in the area after completing repairs and renovations
  5. The amount of real estate commissions required to sell the house after repairs and renovations
  6. The cost of maintaining the house during repairs and renovations until it’s ready to put on the market, including insurance, taxes, loan payments, utilities, and more

  Q: Who typically sells houses to Lee Equities?

  A: People all over the United States from all walks of life. People sell their houses to us for a variety of reasons, including:

  • Needing to sell inherited property quickly
  • Wanting to unload rental property with problematic renters
  • Relocating to another area
  • Going through a divorce and needing to liquidate assets Being behind on mortgage payments or facing foreclosure
  • Not wanting to invest time or money into making necessary repairs and more.
  • The most common trait people who sell to Lee Equities share is the need to sell a house fast to a respected, honest home buyer that will ensure a quick, hassle-free sale.

  Q: I need to sell my house fast. How long might it take for me to get an offer from you guys on my house?

A: Every situation is unique, but it’s not uncommon to get a cash offer in as little as 24-48 hours.

  Q: What if my house needs repairs?

A: We buy homes as-is, so there’s no need to make repairs.

  Q: How long does it take to close?

A: It depends on your situation, but we usually can close within 7-to-14 days.

  Q: I’m behind in my loan. Do I need to make another payment?

A: No. We regularly purchase homes that are behind in payments, facing foreclosure, or underwater.

  Q: I’m in foreclosure. Are you still interested?

A: Yes, as long as the foreclosure has not been finalized (meaning, the bank owns it), we can still make an offer to buy it.

  Q: If you buy my house before the bank forecloses, can I save my credit?

A: Selling your home before final foreclosure will prevent a “foreclosure” from appearing on your credit report, which is generally the better option for your credit.

  Q: Can you buy my house if it’s vacant?

A: Absolutely. The home can be in any condition, and it does not matter if you live in it, if you have a renter in the home, or if it’s vacant.

  Q: Can you buy my house if I have a bad tenant in there now?

A: Yes. We have experience dealing with bad or problem tenants.

  Q: My house is presently listed for sale with a real estate agent. Can you still buy my house?

A: Yes. You’ll likely still need to pay your agent’s commission, but we can still purchase your home.

  Q: If I have moved out of the area do I have to come back into town for a closing?

A: No, you can complete your end of the closing locally at most attorneys’ offices or title companies. And your check can be mailed or deposited directly into your account.

  Q: I owe more than my house is worth. Can you help me?

A: Yes. We can help you apply for a short sale with your lender. Just be aware that whether or not you get approved for the short sale is out of our control.

  Q: Will you pay market value for my house?

A: After answering your questions and evaluating the condition of your house, we’ll make a fair, no-obligation all cash offer on your house.

The amount we offer you for your house is discounted from the expected retail value after a full renovation of the house. We will buy your house, but only at a price that’s below market value so it can resell after renovations for a profit.

We will, however, pay cash for your house, take care of normal closing costs, and close quickly so you can move on fast. These are conveniences that all add up to a great deal for just about any homeowner that wants to sell.

  Q: Do you buy townhouses and condos as well?

A: No. Right now, we only buy single family homes and duplexes. We have plans on expanding to commercial properties in the near future.

  Q: Will you buy a mobile home?

A: No, whether tied down or on a fixed foundation, we don’t buy mobile homes of any kind.