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Flyhomes Guarantee for Buyers
Buying a home
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Buying and selling
It sounds too good to be true. What’s the catch?
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In most markets, sellers agree to pay 2% to 3% of a home’s sale price to the buyer’s agent as commission for finding a buyer for their home. Since we’re the buyer’s agent, we take that commission but give you up to .75% of it back in rebates.

What homes can I buy using Flyhomes?
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Most single-family residences, townhomes, condos, tenancy-in-common, and investment properties that are located in our service areas: Washington, California, Massachusetts, and Oregon.

Do I have to sign anything to start working with Flyhomes?
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Not as a buyer; however, we’ll ask you to sign an exclusive agency agreement if you decide to list with us. While we provide everything you need to purchase a home (real estate agents, loan officers, etc.), you’re always free to work with one of our preferred lenders or another third-party lender of your choice.

How will getting pre-approved affect my credit?
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Each hard inquiry, like a loan application, appears on your credit report for about two years. However, if multiple inquiries are done within a given window (usually 14 days) they’ll only count as one inquiry, minimizing the impact on your credit. Because Flyhomes Mortgage moves fast, you can easily get pre-underwritten while shopping for lenders within that time frame. Discover five common credit score myths.

Do Flyhomes agents get commission?
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No. Our real estate agents’ pay isn’t tied to a home’s purchase price, as they receive a base salary and bonuses based on how many homes they help buy. While Flyhomes collects a standard commission, a portion of that money is often paid back to the buyer in the form of a rebate.

When should I think about getting a lender?
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As soon as possible. That’s why we get you pre-underwritten, first thing. Doing so let’s you know your budget and lets sellers know you can pay. Learn more about the benefits of getting pre-approved.

What is a Flyhomes Cash Offer?
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It’s a short-term loan that acts like cash. The loan closes in 10 days compared to 45 with a traditional loan. Because it acts like cash, the seller gets their money fast and you can move into your new home sooner. Specifically, it’s a fixed-rate loan with a three-month term. While monthly payments aren’t required upfront, the loan balance and any accrued interest are due at the end of the three months.

Why would I use the Flyhomes cash offer versus a traditional mortgage?
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Our cash offer is designed to help you buy your new home in a highly competitive situation. When choosing an offer, a seller considers three things: how they’re getting paid, how fast they’ll get their money, and what they have to do to get it. With a cash offer, you’ll take care of all three.

  • Pay in cash: Traditional loans can fall through, but cash is a sure thing. We help you secure the funding so you can pay the seller directly. That’s guaranteed funds for the seller and a new home for you.

  • Move quickly: The seller gets paid in 10 days compared to 45 with a traditional loan. That means they get their money fast and you can move into your new home sooner.

  • Get guaranteed: If for any reason you need to back out, we’ll buy the home so you don’t have to.

How much does a Flyhomes Cash Offer cost?
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Costs, like any loan, vary based on the current interest rate. Here’s an example of a typical Flyhomes Mortgage loan:

  • Origination fee ranging from 0.75%-3.00% of your loan amount

  • Desktop appraisal fee that ranges from $175-$225

  • Minor fees for things like credit reports and flood reports

  • Title, escrow, and other settlement costs

If you decide to use Flyhomes Mortgage, we’ll provide a lender credit that will offset the majority—if not all—of the above closing costs. For more information on pricing, please speak with a licensed Flyhomes Mortgage loan officer.

Can I use my own real estate agent?
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Yes. However, working with one of our Flyhomes licensed agents will significantly reduce the time and cost involved in purchasing your new home as they’re expert negotiators armed with proprietary tools to craft winning strategies.

Does Flyhomes do appraisals?
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We work with our network of preferred 3rd-party partners who handle all of our inspections and appraisals.

Do I have to work with Flyhomes Mortgage to use the cash offer?
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No. When securing your long-term financing, you can choose to work with one of our preferred lenders or a mortgage company of your choice.

What is closing?
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It’s the final step to securing your loan. This is where you’ll sign your closing documents (i.e., mortgage or deed of trust) and pay any closing fees.

How does Flyhomes Mortgage close so quickly?
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Our cash offers don’t require a full home appraisal, which significantly reduces the closing timeline. We also fully underwrite you ahead of your offer, which means that your loan approval is done ahead of making an offer. This contributes significantly to an efficient closing process.

Do I still need an appraisal?
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Yes. We use an abbreviated appraisal often called a desktop appraisal report for your short-term loan. However, when refinancing into a long-term loan, you’ll need a full appraisal to be completed. Learn more about home appraisals

When do I own the home? When do I get to move in?
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You take title and own the home at the closing of your short-term loan, typically 8-10 days after you have a fully executed Purchase and Sale Agreement. Once you’ve closed on your loan, you can move in!

How much can I offer with a Flyhomes Cash Offer?
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There are a couple of things to take into account. The appraisal tells you how much the home is worth and underwriting tells you how much you can afford. If your appraisal comes in low, your Flyhomes agent will help you determine the best approach to bridging the gap.

How does a Flyhomes Cash Offer work?
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Most people don't have the money to win an expensive bidding war. We created the cash offer to front you the funds so you can pay for your new home outright. That's guaranteed money for you and the seller—making your bid more competitive.

  • Get pre-underwritten: Before you search for a new home, it’s important to be ready to start bidding. That’s why we get you pre-underwritten—first thing. It lets you know your budget and lets sellers know you can pay. Learn more about the benefits of pre-underwriting.

  • Pay upfront: We get you set up with a short-term loan, giving you the money you need to make a highly competitive cash offer, payable in as few as 10 days.

  • Secure financing: Once you move in, our in-house mortgage team will get you going with a long-term loan. Or, search for up to three months for a lender of your choice.

How do I qualify for the Flyhomes Cash Offer?
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This will be determined during the pre-underwriting process. That’s where you’ll learn how much home you can afford and set a budget for your search. Regardless of your credit and current financial situation, we’ll help you find the best solution for getting you into your new home.

If I receive a Flyhomes Cash Offer, how does the Flyhomes Guarantee for Sellers apply to me?
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If you’re a seller (client or non-client) receiving a cash offer from a Flyhomes client and they back out after all contingencies have been met, we’ll honor their offer’s original terms and purchase your home at the agreed upon price. Either way, your home is guaranteed to sell.

Am I charged as the seller?
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No. There are no fees associated with our guarantee for sellers.

As a seller, how do I use the guarantee for sellers?
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There’s no action needed on your part. Our client’s Flyhomes licensed agent will ensure that you get paid in the event that they back out after all contingencies have been met.

Why do you offer the buyers guarantee to all sellers who receive a Flyhomes Cash Offer?
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As a seller receiving a Flyhomes Cash Offer, we want to remove all doubt as to whether you’ll get your money. This strengthens our buyers’ offers because they’re backed by guaranteed funds.

How does Buy Before You Sell work?
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We pre-underwrite you without counting your current home’s debt against you. This allows you to increase your budget upfront without having to sell your home first. We do this by giving you a short-term loan to buy your new home. Once your old home sells, we’ll refinance your short-term loan into a long-term loan and apply the proceeds from the sale of your home toward your down payment.

What if my home doesn’t sell?
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We list your current house after you’ve moved into your new home. The goal is to sell your house for top dollar within 90 days, maximizing your profit. On the off chance your home doesn’t sell after 90 days, you’ll have the option to let us buy it from you, or keep it on the market until it sells.

What if my home doesn’t qualify? Can I still take advantage of Flyhomes rebates?
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Absolutely! In the event your home doesn’t qualify, you can still buy and sell with Flyhomes. We offer competitive perks and pricing if you buy and sell within six months.

What are the fees associated with Buy Before You Sell?
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You pay the usual fees associated with buying and selling a home. For buyers, these include buyer closing costs, which include an origination fee, the appraisal, and title and escrow costs. For sellers, the fees include the broker commission, a transfer or excise tax (if applicable), and any seller closing costs.

When using a cash offer, you’ll also pay costs associated with holding the new home, which is a fixed daily rate. Depending on your scenario, it typically ranges between $100-$200/day.

How do I qualify for Buy Before You Sell?
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After you connect with your Flyhomes licensed agent, we’ll collect some additional information on your home (e.g. homeowner questionnaire, recent photos, inspection). Our team will determine your home’s eligibility and complete an estimate for your home value within two business days. In the meantime, you’ll need to fill out a loan application with Flyhomes Mortgage to get you pre-underwritten.

What services are included when I sell my home?
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We take care of everything to get your home show worthy so you get top dollar when selling your home. These services include listing, cleaning, staging, professional photos and a virtual tour, extensive marketing, a pre-inspection report, and hosting open houses for prospective buyers.

And, you get the Flyhomes Guarantee that your home will sell even if a buyer backs out. You have the option of keeping it on the market, choosing another offer, or letting Flyhomes purchase it from you.

How do you assess my home value?
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Our research team reviews everything from your home details to neighborhood trends to what’s happening in the current market. Specifically, we compare your home with other similar homes in the neighborhood, taking into account square footage, the number of bedrooms, etc. We then look at their price point when sold/pending along with the price point of homes in the market as a whole. We do this because nearby homes are the best indicator of how much buyers might be willing to pay and the market as a whole tells us how many homes are on the market. If there’s a shortage, prices go up along with the value of your home.

Why should I list with Flyhomes?
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Because of our all-inclusive streamlined listing process, our listings consistently sell faster and make sellers a higher profit than the industry as a whole. When you list with us, you’re given a dedicated licensed agent who’s an expert in your area. They coordinate with our preferred network, getting your home show worthy and in front of buyers fast so you can make the most profit.

How soon can you get my home ready to sell?
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We can get your home show ready in as little as two weeks.

What costs are involved when I sell my home with Flyhomes?
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As the listing agent, we charge 2-2.5% of your home’s final purchase amount for our all-inclusive services. As the seller, you also pay the buyer’s agent commission, which typically ranges between 2.5-3%. Additional fees include any local taxes and closing costs associated with your state’s legal requirements.

If you prefer not to use our all-inclusive services (no cleaning, staging, or inspecting), we charge 1.25-1.5% of your home’s final sell price. This service is not associated with our claim to sell your home faster and for more than the industry standard.

What is the Flyhomes Guarantee for Buyers?
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If for any reason you decide not to purchase a home after the seller has already accepted your cash offer, we’ll purchase the home instead.

Why do you offer this guarantee?
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To stand out from other cash offers. With our cash offer, you don’t have to have the highest bid to win a bidding war. And, because the seller gets paid either way, it’s guaranteed cash for them and a more powerful bid (offer) on a home for you.

How do I use the Guarantee for Buyers?
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Simply let your Flyhomes licensed agent know that you’d like to back out and they’ll take care of the rest.

What are the fees for the Flyhomes Guarantee for Buyers?
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There are no fees; however, if you decide to use this guarantee and not to purchase the home after all contingencies have been met, you’ll forfeit your earnest money (money paid to enter into contract), which is typically 5% of the purchase price.

How do I qualify for the Flyhomes Guarantee for Buyers?
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There are four requirements that must be met in order to use this guarantee.

  • This guarantee can only be applied to cash offers.

  • You need to have received a pre-underwritten letter.

  • Earnest money must have been put down (a minimum of 5% of the purchase price).

  • The home must be in appraisable and lendable condition.

If I’m selling my home with Flyhomes, how does the Flyhomes Guarantee for Sellers apply to me?
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If you’re a Flyhomes client, using our all-inclusive services to sell your home and a buyer backs out after all contingencies have been met, you have several options: You can take a different offer, keep your home on the market, or opt to have us purchase your home at the original contractually agreed upon price.

How do I use the guarantee for sellers?
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Simply let your Flyhomes licensed agent know whether you’d like to keep your home listed or have us purchase it instead, and they’ll take it from there.

Are their fees to use the Flyhomes Guarantee for Sellers for sellers that are Flyhomes clients?
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There are no fees associated with our guarantee for sellers.

Why do you offer the seller guarantee to Flyhomes clients?
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We know that you want to sell your home fast while maximizing your profit. That’s why we created our all-inclusive services for sellers backed by a guarantee that ensures that your home will sell one way or the other.

If I’m buying and selling with Flyhomes, do I get a guarantee?
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Yes. In the rare case that your home doesn’t sell within 90 days, we’ll purchase your home. Or you can leave it listed and wait for another offer. Either way, your home is guaranteed to sell.

How much will you pay for my home if I use the Flyhomes Guarantee for Buyers & Sellers?
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Our goal is to help maximize the proceeds from selling your home, which we base off of the current market value. Contact your Flyhomes agent to learn more.

How do you determine the market value for my home?
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Our research team reviews everything from your home details to neighborhood trends to what’s happening in the current market. Specifically, we compare your home with other similar homes in the neighborhood, taking into account square footage, the number of bedrooms, etc. We then look at their price point when sold/pending along with the price point of homes in the market as a whole. We do this because nearby homes are the best indicator of how much buyers might be willing to pay and the market as a whole tells us how many homes are on the market. If there’s a shortage, prices go up along with the value of your home.

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