FAQ

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Getting pre-approved for a mortgage is the first step of the home buying process. To get the ball rolling in the right direction, the pre-approval letter from a lender is a must.

From start (searching online) to finish (closing escrow), buying a home takes about 10 to 12 weeks. Once a home is selected, and the offer is accepted, the average time to complete the escrow period on a home is 30 to 45 days (under normal market conditions). Though, well-prepared home buyers who pay cash have been known to purchase properties faster than that.

We buy and sell homes all over the United States . That includes our Property Management Services also.

Absolutely not! We buy tear down homes; move in ready homes, and anything in between for cash and in as little as 7-10 days.  We also buy vacant lots and homes with fire damage. 

Most loan programs require a FICO score of 620 or better. Borrowers with higher credit scores represent less risk to the lender, often resulting in a lower the down payment requirement and better interest rate. Conversely, home shoppers with lower credit scores may need to bring more money to the table (or accept a higher interest rate) to offset the lender’s risk.

Simply fill out our form as thoroughly as possible. We will contact you typically within 24 hours of form submission.  You will be contacted by the owner of Dreams money can buy, not an automated system.

The standard lease that we use at Dreams Money Can Buy LLC requires that rent be paid on the 1st of every month, and is considered late if received after the close of business on the 5th, unless the 5th of the month is a Sunday or bank holiday. Tenants are then charged a late fee which is typically 10% of one month’s rent unless stated otherwise in the lease agreement. If your tenant has not paid by the time of your first distribution on the 7th of the month, your owner statement will show no income for the month. Please note that by the time we send out all owner packets on the 7th, we have accounted for all rent checks received by tenants. 

The eviction process can be lengthy and arduous. Please see the timeline below of how the eviction process generally works:

• 7th of the month:  Late fees assessed, "5-Day Material Non-Compliance" (Pay or Quit) notices mailed to tenants informing them that they have 5 days upon receipt to pay their balance or we will begin the legal process to evict.
• 16th of the month:  If no payments are made, we instruct our attorney to file a summons through the court for the non-payment (this is an Unlawful Detainer, or UD).  Our attorney relays the court date to us, and a charge is added to the tenant's ledger. In most jurisdictions, this charge is roughly $181.
• When the court date occurs (usually 2-3 weeks from the 16th of the month):  If payments are not made by the tenant, we typically receive either immediate or 10-day possession.  If we receive immediate possession, we can file the writ of possession immediately and an eviction date will be scheduled by the local Sheriff’s office.  In most cases, if the tenant appears in court, we receive 10-day possession where we will need to wait 10 days to file the writ of possession. Once the writ is filed, again, an eviction is scheduled per the local Sheriff’s office. It’s important to note that evictions are usually not scheduled around the holidays.
• At eviction, it's important to be prepared to have all utilities transferred into your name.  This will help expedite the process of doing potential cleaning of the property and getting it back on the market promptly.  All security deposit funds from the tenant will be taken out of escrow and credited to the tenants' account.  These funds will go towards any and all debts owed, such as back rent, late fees, legal expenses, and any cleaning costs or repairs that may be needed at the property.  Once the property is rent ready, we can put it back up on the market.

The most efficient way to receive your owner distribution is through our direct deposit process by providing us with a voided check or your bank account information for the account you would like the funds to be disbursed into. If you haven’t done this already, please provide the account and routing numbers to your property manager. If you would like, we can send your proceeds in check form to the mailing address you provide us, though direct deposit is preferred.

Your Property Management Agreement states that we will forward any funds in your Dreams Property Management  rental account by the 15th of each month. In an effort to exceed this expectation, our first distribution is on the 7th of every month (unless the 7th is a weekend or bank holiday). If we receive rental proceeds from your tenant between the 7th and 13th of the month, we will forward these to you on the 14th. Similarly, we distribute on the 21st and 28th as needed.

As is our policy at Dreams , all residential properties are inspected at least twice annually when tenants are in place. The first inspection will occur approximately three months after the move-in date for the tenant. At this inspection, your Property Manager will check for visible plumbing leaks, test smoke detectors, ensure air filters are being changed regularly, and the overall condition of the property. You should receive an update from your Property Manager shortly after this inspection concerning any issues which must be addressed immediately, could be addressed if you have the resources available to you at the time, or may need to be addressed in the future.