Investors Should Sell to Us

Wed. Jun. 12, 2024

Why Investors + Property Owners Should Sell to Cherokee

Cherokee buys non-performing assets (see What Cherokee Buys) (on an all-cash, non-contingency basis). We are reliable, well financed, and professional.

We buy non-performing mortgages, tax liens, and REO real estate, including contaminated properties, or properties where there are significant physical or legal problems.

We can be very flexible. We can facilitate exchanges to satisfy your regulatory and publicity needs, as well as your financial objectives.

We will close very quickly, on an all-cash basis.

We keep our word. We're reliable, honorable, and honest. (As if we'd tell you that we were scoundrels who would leave you with your ASSets hanging out.) But see our References page to see what others are saying about us.

More Reasons to Sell

  • It needs a LOT of work.
    We only buy properties that need a tremendous amount of work. So if we inquired about your property, it is probably vacant, in great disrepair, and exhibits additional signs of distress. But this is NOT A PROBLEM. No matter how bad the condition is, even if it's contaminated, and has been condemned, we can close for cash.
  • Immediate closing.
    We can close virtually immediately. If necessary we can usually advance funds to you immediately, applicable against the purchase of your property.
  • We pay your costs.
    In most instances we will pay some or all of your expenses associated with a closing. So if you can't afford an attorney, and you think it's stopping you from selling your property, we will accommodate you by paying the attorney for an initial consultation. If you decide to proceed, we will guarantee the legal fees from the proceeds of the sale, you don't have to pay anything to anyone. You only GET money.
  • Quitclaim Deeds.
    In some instances we will accept a quit claim, which means you don't make any promises about your legal ownership, or that of your family. You do not have to pay off other mortgages or tax liens, and you do not have to share the money with anyone.
  • Liability.
    The owner of a property is responsible for its maintenance. The owner may be liable if anything happens. For example, if snow is not shoveled, and someone slips and hurts themselves, they may sue you. If you are sued, even if it was not your fault, you still have to defend yourself in court. So just owning a property creates liabilities.
  • Environmental Liability.
    If a property is contaminated, almost anyone and everyone involved is potentially liable. Further, not only is the magnitude of the liability uncertain, but each party has ;joint and several liability. There are exceptions for certain ;innocent parties, but even proving you qualify for this protection can be expensive and time consuming. (You can learn more on our web site at Inheriting Contaminated Properties.) Selling a polluted property to Cherokee is the first step in reducing or eliminating your exposure to these liabilities.
  • Protect Your Credit.
    If a mortgage or tax lien holder forecloses on the property, all owners and parties in interest will be named in that lawsuit. If this happens, it may appear on your credit report as a public record. At worst it will hurt your credit score, at best it will be something you have to explain to prospective lenders. By getting the property out of your name, you may avoid being named in any lawsuits, and therefore avoid the possibility of having to repair your credit report when you are associated with a foreclosure.
  • End Partnerships.
    Another benefit to property owners is that selling your part interest in a property may facilitate getting out of a bad partnership with a spouse or business partners. To sell an interest in a property (or mortgage) you do not have to be the only owner. If a husband and wife jointly own a property, either one can sell their share to any third party at any time. (This would not relieve you of liability for any Notes or Mortgages that you signed, those must be separately negotiated. Cherokee may assist you in these short sale negotiations with banks or lenders.)

Even More Reasons to Sell

  • No taxes deducted.
    Even if you or the property owner owes taxes, in most instances we are not required to deduct these from your sale proceeds. We close quickly, for all cash.
  • No Estate Tax deductions.
    In most instances we do not deduct or hold back money for taxes owed by your deceased family member who owned the property.
  • Help others.
    When you sell a property to Cherokee, we usually renovate it into affordable housing. So by selling your property to Cherokee, you are allowing us to utilize it in our community development efforts.
  • Charitable Contributions.
    If you cannot accept money for the property, or do not want the money, perhaps because of a family dispute, tax complications, or any other reason, Cherokee can make a donation to the charity of your choice, including religious institutions. So the property can stop being a problem for you, and can open a door for families in need of housing.
  • You can stay in the house.
    Do you want to stay in the house, but can't afford it any more? Sometimes people can't afford to maintain their homes, perhaps due to illness or living on a fixed income. Even if you don't have a mortgage, the taxes and other expenses keep going up, and the house is falling into disrepair. You may not be able to get a mortgage because of reduced income, poor property condition, or other legal problems. We may be able to help, by purchasing the property from you, and agreeing to allow you to rent it back for whatever you can afford. In the meantime we'll fix it up, preventing further decay, enhancing your quality of life, and giving you and your family peace of mind.
  • Get peace and quiet.
    Are you being hounded by people because of the property? Is the town fining you for lack of maintenance? Are occupants (legal or otherwise) a liability? We will STOP these hassles. If you sell to Cherokee, we will immediately notify everyone that you are no longer responsible, we are. Whatever must be done, we'll do it.
  • Privacy.
    Your transaction with Cherokee can, if you wish, be held confidential. The terms, the amounts, and the circumstances of a transfer do not have to be disclosed to the public.
  • Resolve Family Disputes.
    Often properties are abandoned, and tax and mortgage delinquencies are allowed to persist, due to family problems. Sometimes a family death results in disputes among heirs, or the heirs don't want the property, so they ignore it. However this situation may create problems, such as legal liability, expenses, etc.

To learn the advantages of renovating existing properties, as opposed to tearing them down and building new, please see Advantages of Renovations versus New Construction.

Cherokee is not a broker. We don't flip your property to investors. We don't arrange deals. We are not a bait and switch operation. Cherokee is THE investor, and we are the principals. We have a strong reputation with government agencies, financial institutions, and with families just like yours. ASK us for references. No pressure, no tricks, no last minute changes.