Frequently Asked Questions
Maybe you have a few questions. That’s okay; most people do. So here’s a quick collection of some of the questions people ask us… along with our answers. If you still have a question, don’t hesitate to contact us (or give us a call) and we’ll be happy to answer it for you.
Q: What exactly do you guys do?
The mission of our company is to “love our neighbor as ourselves.” One of the ways we can love and serve people is by providing speed and convenience for them when they want to sell their home. We buy homes with cash, close on the day of your choice, take care of all of repairs, and save you the standard real estate commissions you pay when you sell a home.
Q: Have you bought many homes?
Yes. We are one of the top home buyers in Lubbock. We purchase about two homes per week. Here are some testimonials from people who have worked with us:
Todd – My experience with Gem Homes was extremely easy and fast. Parker was very helpful with walking me through the process of selling my first house. He explained many details that I did not know about. The offer that was given for the house was far better than some other competitors. I did not have to list the home with a real estate company, have showings, or wait 2 to 3 months to close on the house.Thanks again Parker and Gem Homes.
Adam – Gem Homes was fast and easy with closing on our house within a week. Great experience working with you guys. Very friendly and honest! Will definitely refer you guys in the future. Thanks again!
Bill – Selling my home was a breeze. They took care of everything for me, let me extend closing a month to give me more time and we closed without any trouble.
People have given us a hug at closing and others have told us we were the “heroes of their family.” That’s how we hope everyone feels that works with us.
Q: How does the process work?
a. Appointment – We set-up an appointment to meet you, see your home, and learn what you are hoping to sell it for.
b. Agreement – If we can pay what you are asking, we will sign an agreement together, take it to our Title Company and give you our earnest money deposit.
c. Clear Title – We will wait a few days for our Title Company to give us the thumbs up that the title is clear & the home is ready to be sold.
d. Inspection – We will schedule a time with you to do a more thorough inspection of the property with either just us or us and some of the other investors we work with.
e. Closing – This is a quick process where usually 2-4 weeks after signing the agreement, we will go to our Title Company to sign all of the legal paperwork and you will receive a check for the proceeds of your home.
Q: What’s the difference between selling to you guys and using a Realtor?
We are interested in actually buying your house, Realtors are not. Realtors represent you and try to help you find a buyer for your house. They typically charge a commission of 6% of your sales price and sometimes it can take months to sell your home. You also have to deal with the hassle of many people coming in & out of your home, the expense of mortgage (if applicable), taxes, and insurance waiting to sell it, and sometimes having to deal with buyers who can’t get approved for financing and have to drop out. Realtors could possibly be your best option if you want to get top dollar for your home, have plenty of time to wait to sell it, and are willing to do the repairs requested by the buyers.
Q: What sets you a part from all of the other real estate investors in town?
We care more about the relationship than the deal & we will prove that to you. In order for us to feel like we have served you well, we want to help you find the best option for you, even if it’s not us. We can give you examples of people we worked with who didn’t end up selling to us but who we were able to help connect with their best option. Our desire is to meet you, establish a friendship, understand your situation, and help you figure out what’s best for YOU!
Q: Is there someone I can call to make sure you guys are reputable buyers?
Absolutely. You can call one of the Title Agents we work with at the Title Company which closes many of our deals. Just ask us for their name and phone number and we will gladly connect you with them.
Q: Do you pay fair prices for properties?
A: We have purchased over 70 properties in the last few years from people who definitely thought we gave them a fair price for their property. We know they wouldn’t have sold to us if our offer wasn’t fair. In fact, some of them have told us that our offer was the highest offer they received from an investor. Our Testimonials page includes many of their stories. We make everyone a fair, no-obligation cash offer and can close fast on the day of your choice. When we meet you in person, we will even discuss with you other options for the sale of your property. We want to make sure you know all of your options so you can choose the best one for you. Based on the mission of our company, we are more interested in helping you figure out what’s best for you, then trying to convince you to sell to us. We only want you to sell to us if it’s a win-win situation for both of us. Otherwise, we’ll be glad to help you find your best option.
Q: How do you determine the price to offer on my house?
A: This is a great question. We look at the location of your house and the condition it is currently in to help us make our offer. We are able to pull up comparable houses that have sold recently in your area to help us determine this offer. If our offer is what you were hoping to get for the house, fantastic! If not, we’ll talk with you about other options that might help you to get what you are looking for.
Q: Are there any fees or commissions to work with you?
A: None at all. This is one of the benefits of working with us. We pay cash. We charge no commissions or fees. And we pay all of your closing costs.
Q: How are you different from a real estate agent?
A: Real estate agents list properties and hope that someone will buy them. If the house sells, the agent’s commission is usually 6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay $6,000 in commissions to the agents). We’re not trying to list your house, we want to actually buy your house. By working with us you’ll save the 6% in real estate commissions.
Q: Is there any obligation when I submit my info?
A: There’s no obligation at all. We will give you a call to talk with you about your house and, if possible, set up a time to meet you to see the house. We are looking for win-win situations, so we’ll only move forward if it’s a win-win for both of us. It is 100% your decision as to whether you want to work with us or not.