Media Presence
Our rapid growth can be attributed to the attention we have received from media sources
seeking to understand how this process has become a viable alternative solution to
buying and selling houses.
Read what the television shows and radio stations have said about us…
Today Tonight
"Now there is a new player in Australia aiming to help would-be home owners who have been rejected by the banks".
"So, if you're one of the thousands of families snubbed or rejected by the big banks because you don't have a huge deposit or credit history, WeBuyHouses might just be the solution you need".
WeBuyHouses was a feature story on Today Tonight, watch the
video to see how WeBuyHouses helped these people...
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“Reality Bites” Program
The growth story of WeBuyHouses
as featured on the ABC.
2UE
Coming soon!
Brisbane Extra - WeBuyHouses was featured on Brisbane Extra,
listen to these stories of how these people realised their dream of
home ownership...
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SBS-Insight
Media Releases
Here are our Media Releases to gain an understanding of what WeBuyHouses does and can do
with you… Not only can we support your current situation we can also assist in future
to support your personal financial situation by investing in property yourself…
Click to view > HELP FOR HOME BUYERS
Click to view > HOME FINANCE MADE EASIER
Click to view > VENDOR FINANCE LOCKS IN PROFIT
Click to view > PROPERTY WRAPPERS CREATE WIN, WIN, WIN!
Media Release 1
HELP FOR HOME BUYERS
Families are finding that the rising cost of housing makes the prospect of buying a home through normal financial channels beyond their reach. However there are many sellers of houses who are prepared to provide terms finance to suitable applicants on a lowers than normal deposit, with repayments equal or close to their present rent. Applicants are of course, required to show they have a regular income, a bank account and a satisfactory payment record. People who sell houses on terms finance are known as Property Wrappers as they offer clients a packaged deal to home buyers. They have recently formed an organisation called the Vendor Finance (Wraps) Association Incorporated. This Association will make it easier for members of the public to find out more information about buying a home.
Association President Rick Otton said that this form of financing is common in the U.S.A. for persons who are unable to come up with the normal level of deposit required by other financial institutions. He said it helps the buyer into a home quickly on a minimal deposit, and helps the sellers to sell their properties quickly and profitably.
Rick said the primary aims of the Association are:
1. To promote vendor financing
2. To provide balanced and accurate information to buyers
3. To develop and maintain a code of ethics for all Association members.
Contact with the Association may be made through the address below.
Media Release 2
HOME FINANCE MADE EASIER - PROPERTY WRAPPERS FORM ASSOCIATION
To facilitate access by buyers to personalised home finance and to attract investors to real estate, a group of property wrappers has formed a non-profit association. Property wrappers acquire real estate and then prepare packages for buyers on negotiated terms to suit the purse of the buyer, in most cases carrying the mortgage for a specified period of time.
Rick Otton, the President of the new Association, said its primary aim is to support and protect the interests of its members involved in vendor financing as it grows to become one of the mainstream forms of property selling in Australia.
Investors in real estate have found that they can turn over their properties more readily and at much less cost by carrying the mortgage themselves on a lower deposit and slightly higher interest rate. The big attraction for the buyer is not having to come up with a very substantial amount of cash which he or she does not have, and the repayments are usually tailored to the equivalent or close to what is presently being paid in rent.
The Association aims to disseminate accurate information on vendor financing to the public, to investors and the media. It will also develop an ongoing relationship with Federal and State Governments who are always keen to foster home ownership.
The Association Has As Its Principal Objectives and Aims:
To promote and safeguard the interests of vendor financing
To encourage investment in this type of financing
To provide balanced and accurate information about vendor financing to the public through its website and the media
To develop standards and ethics for association members
To keep members abreast of developments in the market place
To provide a forum for discussion, interchange of ideas and networking as vendor financing increases
Rick Otton has extensive experience in this type of home financing both in the USA and Australia where he has established companies.
Rick said he gets his greatest satisfaction from meeting so many happy, satisfied customers, who thought they could never own their own homes.
For further information contact the Association at the address below.
Media Release 3
VENDOR FINANCE LOCKS IN PROFIT
“With the property market bound to improve with lower interest rates, vendors, especially retirees should lock in capital gains and secure better income streams,” Rick Otton President of the Vendor Finance (wraps) Association said today.
Many vendors follow the market down by continuing to reduce the sale price of their property in order to attract buyers thereby wiping out accrued profits. He went on to say that although it may not suit everyone, many overlook the options and benefits available to them through the use of vendor financing when selling their property. Many people especially those close to retirement sell their home for cash in order to unlock capital which they then deposit in a bank in order to receive an income stream(at a time when bank interest is going down!)
An option may be to Vendor Finance the house, receive some cash from the buyer as non-refundable deposit, and then receive monthly payments for the balance. The benefits of such a transaction are three fold.
Firstly the interest rate the buyer of your house will pay is considerably higher than the bank would pay on your deposited funds therefore increasing the size of the income stream.
Secondly, If you require a deposit substantially less than banks require, the sale will attract many more potential buyers who therefore are prepared to pay more for the house and a higher rate of interest on your funds.
Thirdly, the sale is relatively easy, does not really require an agent (no commission), and whatever terms you agree to with your buyer, are all put in contracts prepared by solicitors at your buyers expense and you retain the house as security if the sale falls through.
Media Release 4
PROPERTY WRAPPERS CREATE WIN, WIN, WIN!
All parties involved in a property wrap win according to Rick Otton the President of the Vendor Finance (wraps) Association. The parties normally involved in such a transaction are the financier of the property, the wrapper and the buyer.
The financier, usually a bank, funds the purchase of a property promptly at normal lending rates to a seasoned borrower i.e. the wrapper.
The wrapper sells the property on to the buyer on a lower than normal deposit and can usually finalise the transaction in about two weeks.
The buyer is able to purchase a home which would normally be inaccessible through normal financial channels in quick time. He is happy to pay a couple of percent more than bank interest in order to get a home of his own and enjoy future capital gains. Also repayments are not much more than his present rental!
The wrapper assists the buyer to refinance his home through a traditional lender when he has acquired sufficient equity and maintained a responsible repayment programme. Usually this is with the lender that financed the purchase in the first place, frequently this position is achieved within 24 months. The Wrapper is then paid out and takes his profit on the house sale. As you can see, the experienced wrapper is skilled at risk management.
So, the bank (or other investor) gets his loan serviced by a reliable customer; the buyer gets a house he could otherwise not buy (with the knowledge that he can refinance in due course); the wrapper has cash flow ( through the repayments) which enables him to service the loan and meet his costs, and he has the security of a mortgage on a property until he is paid out on refinancing and gains his profit.
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