- Will my credit be checked?
Yes, the approved lender will take an application which will include checking your credit. However your score is not the only key factor in your approval and there is no minimal score required.
- How long is your process before I can move in?
Each closing varies, but typical closings will occur within 3-4 weeks.
- When do I take possession of my home?
At closing and upon completion of the sale.
- What happens if I want to sell the house before it is paid off?
A payoff of your remaining balance will be required to reconcile your contract. At your closing, a Special Warranty Deed will be provided to the contract holder to then transfer to your purchaser.
- What happens if I want to pay off the house early?
There are no penalties for an early payoff. You will receive the deed once the entire loan balance is paid in full.
- Do you provide rehab loans/financing?
- Can you finance more than the house so I can make improvements?
No, seller financing for improvements is not available.
- Do I need to obtain insurance on this property?
Hazard Insurance is required on the property.
- Are these homes for sale or rent-to-own?
All of our homes are for sale.
- What is the closing process?
There are two (2) closing options.
1. Notary Closing � A notary will meet you at your residence or place of business to complete necessary paperwork.
2. Title Closing � You have the choice to close with a title company, but you will assume all associated costs.
- Do you own the properties listed on the site?
No. All of the properties listed on VIPHomeShop.com are owned by corporate investors, and each investor determines their own underwriting guidelines and qualification criteria for their specific properties. VIPHomeShop.com does not own these properties and only serves as a facilitator, bringing together buyer and seller. VIPHomeShop.com is not a lender and makes no underwriting or credit decisions.
Deeds and Title
What is a land contract?
A land contract is legal agreement in which a land owner sells a parcel of land with a house on it and agrees to finance the purchase for the buyer. To satisfy the contract, the buyer makes monthly payments, which include interest, to the seller until the loan is paid in full. Only upon satisfaction of the contract does the seller transfer the property's deed to the buyer. Under a land contract, the seller retains legal title to the property, while permitting the buyer to take possession of it for most purposes other than legal ownership.
Are these properties sold as is?
Who makes improvements to the home?
Yes, all homes are sold on an "as is" basis
Is this property condemned or on a demolition list?
You have all the same rights of ownership under a land contract as you would if you held title to the property, thus you make any and all necessary repairs or improvements.
Can I view the inside of the home?
It is always prudent to check the status of the property before making an offer.
Does the property information accurately reflect the current condition?
Yes, contact one of our sales consultants to gain access to the property.
How can I purchase the property and take it off the market?
You should always perform your own onsite assessment. Our photos and descriptions on VIPHomeShop.com are generally prepared within 30 days of our purchase. The property information you see on VIPHomeShop.com is provided by independent contractors, not licensed property inspectors.
This information, while useful, cannot fully convey the condition of the property. It is important to perform your own onsite assessment of the property before making an offer. Property conditions can change rapidly, particularly in areas with extreme weather conditions.
If you are interested in purchasing a property and taking it off of the market, contact one of our sales consultants today online or by phone at 866-202-2335.
Can I advertise your properties for sale?
No. The posting of addresses, photos and/or prices for our property inventory on any VIPHomeShop.com, social media, document or other forms of advertising without the express written permission of VIPHomeShop.com is not permitted.