Building homeownership, block by block.

FAQ - Property Investor


 

 

What work will I have to do?

After we ensure your house is ready to fill, your job is to watch your payment hit your bank account each month. We’ll handle filling the property, supporting the prospective buyer, paying the taxes and insurance, and making sure things run smoothly.

How does contracting work?

Hurry Home has a suite of contracts that protect your property and the buyer’s interests, and we record them with the relevant county. All can be e-signed, and you will receive copies of all executed contracts for your records. If you have any specific questions or would like to review the contracts, you can email us at ContactUs@HurryHome.io

What if there’s appreciation or depreciation?

Based on market studies of the last three decades, housing prices in this range are stagnant, neither increasing nor decreasing even in the housing market boom before 2008. So it is unlikely the house will appreciate in value, and instead if you are not using Hurry Home and trying to sell in the retail market, you’d have to sell it to a cash buyer at a discount (typically 15-35%). With Hurry Home, If there is appreciation (or even depreciation), it will not affect your return as the value is fixed.

What happens if there’s turnover?

We take great pains to make sure that the buyer in your house is committed to owning it and ready for that responsibility. Even so, life events can happen to anyone. In situations where there is turnover, Hurry Home is right there with you and will replace the buyer with someone from our qualified applicant pool as quickly as possible. To ensure that the home is ready for a new buyer, Hurry Home will first draw from their Maintenance/Repair Credit and then from the escrowed amount for the final lump sum to make any necessary repairs that are more significant than normal wear and tear.

 
 
 

FAQ - Homebuyer


 

How do I know if I qualify?

We review your application and supporting documents to check if they meet our qualification standards:

  1. No evictions, foreclosures, liens, bankruptcies, or open judgments for the last 5 years

  2. Money for a down payment (10% of the house price) or qualification for an assistance program

  3. 2 years of good rental history

  4. 2 years of employment or regular income

If you are not sure if you qualify, apply and we will inform you if you do, or let you know why you do not.

What if I have bad credit?

While we run a credit and background check after you apply, we are primarily checking for evictions, foreclosures, bankruptcies, judgments and liens; we do not focus on your credit score. Instead, we pay more attention to your rental and income history.

How do I know how much house I can afford?

We consider your monthly budget and limit your monthly payment to 30% of your gross monthly income to ensure affordability.

How long is my qualification valid for?

Your qualification is valid for 3 months.