Frequently Asked Questions

Q: What type of experience do you have?

A: We have been working in the real estate industry in Northern Kentucky for over 25 years. We have established relationships with clients and with business partners. We specialize in handling properties in the Northern Kentucky Area. That's something that many of the "I Buy Houses" companies can't lay claim to.

Q: What type of information do you need when I first contact you?

A: We need very basic information about your house. The number of bedrooms, bathrooms, features, age and overall condition of the property is needed. We will also ask you how long you have owned your home and if there are any mortgages or liens against the property.

Q: What happens to my mortgage when you buy my house?

A: Your mortgage is paid off the day we buy your house.

Q: What if I am going through bankruptcy?

A: We can work with you as soon as your bankruptcy is discharged and your property is released.

Q: What kinds of houses do you buy?

A: We buy houses in any condition - from move-in ready to fixer-uppers. Most homes we purchase do need some work. We also buy townhouses, multi-tenant buildings, and retail and office buildings. If you're not sure about your property, just give us a call to discuss it.

Q: Do you charge fees to make an offer or sell my home?

A: No. There is no charge for Hillcrest Homes, Inc. services. Period.

Q: How do you figure out how much to offer for a house?

A: While every homeowner's situation is different, we generally combine the age, condition, costs for necessary repairs, what other homes in your area are selling for, and how long it seems to take to sell them, to figure out a fair offer for your property.

Q: Do you buy property all over the country?

A: No. We are a local company that only does business in the Northern Kentucky Area. We have over 25 years of experience in real estate right here in our own area.

Q: What is a short sale?

A: A short sale is when you sell your home for less money than you owe on your mortgage(s). We work with you to complete and submit the proper documentation and negotiate directly with your lender. If the sale is approved, the lenders take a loss on the mortgage and your credit report will show that your home has been paid off.

Q: Do I qualify for a short sale?

A: Most short sales occur on properties heading toward foreclosure. Usually, this means that you are at least 3 payments behind. Also, most homeowners who get short sales have little or no equity and are experiencing "financial hardship."

Q: How can I benefit from a short sale?

A: First and foremost, a short sale relieves the stress of being in foreclosure. It allows you to get rid of your big mortgage payment and move on with your life. A short sale allows you to stop a foreclosure proceeding and get a fresh start. In our experience, this is the biggest benefit to homeowners.

Q: What if my house is in pre-foreclosure?

A: We'll be sure to work as fast as possible. In some cases, we can bring your mortgage payments up to date or pay off your mortgage. We help save your credit, avoid foreclosure, and get a fresh start.

Q: I am behind on my mortgage payments, but not yet in foreclosure. Can I do a short sale?

A: Yes, this is happening more and more. Sometimes these are the most attractive short sales for both the buyer and the lender because the buyer can take advantage of the lender's ability to avoid the vast majority of the costs of foreclosure. In these cases, it is more important to have a very clear "hardship" story to explain to the lender why you are unable to make the payments.

Q: How do you figure out how much to offer for a short sale?

A: We negotiate directly with your lender. Generally, the cost for settling with your lender depends upon the balance of your mortgage and any liens that may be attached to your property.

Q: My home is already listed for sale on the MLS, but isn't selling; can I still do a short sale?

A: Yes, you can and it is relatively common. Some lenders even require that a house be listed for sale before approving a short sale in order to show that a discount is necessary.

Q: Are short sales guaranteed to work?

A: No. All of the criteria must be met before a bank will even consider a short sale. Even then, it isn't easy to convince a bank that the market value of the home is lower than what they are owed. Even if all the paperwork has been correctly completed it can take several weeks, or even months, only to be denied. If the lender does not approve the short sale, no transaction occurs. The Purchase Agreement becomes void and the listing continues. This is why it is important to work with an experienced short sale specialist.

Q: How long does a short sale take?

A: A short sale can take 60 to 120 days or longer to complete. This is very important. The process is complicated and takes a lot of time. So to exercise the short sale option, you must act quickly. DO NOT WAIT.

Q: My house needs a lot of repair; can I still do a short sale?

A: Yes, though it can make the process more difficult because the price must be lower to compensate for the repairs. The key is to show the bank's appraiser all the work that needs to be done. Let me know in advance if this is the case with your home.

Q :I have more than 10% equity in my home - can I still do a short sale?

A: Probably not. However, you may be a candidate for a regular sale.

Q: Other people are on the deed with me, but they don't want to short sell. Can I still do a short sale?

A: No. All parties listed on the deed or mortgage must sign the short sale purchase agreement. There are no exceptions to this.

Q: I have other liens (i.e. mechanics, IRS, court judgments) on my house; can I still do a short sale?

A: Yes, but it gets much more complicated and will take longer. If this is the case with your home, be sure to COMPLETELY list all liens you have. Each lien holder must be negotiated with individually. A short sale in this circumstance will take longer.

Q: Is my information kept confidential?

A: ABSOLUTELY 100%! Your privacy is of the utmost importance to us. Any information you provide is completely confidential! If you want to deal with a reliable, reputable company who will treat you with professionalism, understanding, and respect – YOU HAVE COME TO THE RIGHT PLACE!

Q: If I know of another property your company may want to buy, do you pay a referral fee?

A: YES! Maybe there is a vacant house on your street or you know someone who needs and wants to sell there home, please refer them to us! Better yet, provide us their information and we will do all the research and make an offer. In some cases we will pay you up to $1,000 for a referral! Contact us directly to discuss the terms.