Frequently Asked Questions

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General

Where is ExpanseOne currently buying homes?


ExpanseOne is currently buying homes in the following metropolitan areas: Atlanta, GA Las Vegas, NV




What types of properties does ExpanseOne purchase?


Single family residential homes, including condos and townhomes that were built prior to 1960. Multi-family homes




Do you purchase homes in age-restricted communities?


Yes, we do. Typically, our maximum purchase price for homes in age-restricted communities is $325,000.




Do you purchase homes in gated communities?


Yes




Are there any types of homes that you won’t purchase?


Homes outside of our service areas Homes that are manufactured, pre-fabricated, or mobile Homes where the seller does not have clear ownership (no double escrow) Homes that are not vacant as of the closing date (or Extended Stay, as applicable). No leasebacks after closing are permitted. Homes that have significant foundation, structural or other condition issues




Can I still sell to ExpanseOne if my home is listed with an agent?


Yes. Even though you don’t need an agent to sell your home to ExpanseOne, if you’re already working with an agent or your home is currently listed, we will work with your agent directly. Simply have your agent submit your request for an offer on your behalf or submit your home with your agent’s information and we’ll take it from there.




Can I trade-in my home to ExpanseOne?


Yes. Because few homeowners have the financial capability to own two homes at the same time, ExpanseOne helps you time the purchase of your new home with the sale of your existing home to us. The transactions happen back-to-back and reduce the stress that you might otherwise experience. You can speak with one of our Homeowner Consultants to learn more.




How do the improvements that I made to my house affect the offer?


Improvements (or renovations) to your home are an important factor in how we determine the value of your home and our purchase offer, so it is important you tell us about them in your offer request. Photos of your improvements also help; you can upload them when making an offer request or send them via email to contact@expanseone.com; please make sure that you include your home’s address in your email.




How fast will I receive my offer?


ExpanseOne typically provides you with an offer within 24-hours after you submit your request and we conduct our home assessment.




Should I provide photos?


No. What separates ExpanseOne from other companies is our team will take photos conducts the assessment of your property. This way we have a more accurate understanding of your home’s condition, features and overall value.




My property is leased and occupied by tenants.


We understand. We’ll work around your tenants in scheduling our your home assessment. Remember, though, that the tenants have to move out by closing or we can’t buy your home.




Does my offer expire?


Yes. Home values will often change based upon market activity, competition and other factors. Our offers will usually expire in four days from the date of the offer. However, ExpanseOne is happy to provide you with an updated offer. Please be aware that our renewed offer price may be unchanged, higher or lower than your original offer depending upon current market conditions. In rare instances, we may conclude that we are unable to renew an offer.




How long does the selling process take with ExpanseOne?


With ExpanseOne, you have the freedom to select your closing date. If needed, we can close in as few as 10 days. If you prefer more time, our team can accommodate a closing date as long as 90 days. Below are the minimum timeframes to close by state: Georgia
All homes: 15 days Nevada
Homes with no HOA: 10 days
Homes in an HOA: 15 days If you need a closing date within 15 days, you must make your home available for our inspection within the first three days of signing the contract—otherwise, we will be unable to accommodate your request.




What happens to my house after I sell to ExpanseOne?


Depending upon the condition, we will typically perform light renovations on the home to get it market-ready. These items may include upgrading appliances, painting, putting in new carpet or maybe even upgrading countertops. We’ll install for sale signs, hold open houses, send out flyers, take care of listing paperwork, talk to agents, wait for and negotiate with a buyer, work with the appraiser, worry about buyer financing falling through, pay holding costs, utilities and association dues. In short, once we’ve bought your house, we take on the costs, risks, hassles, and headaches associated with selling a home.




Is my information secure?


ExpanseOne provides our customers with the convenience of signing documents electronically with one of the leading electronic signature providers, DocuSign. You can learn about their specific technologies by visiting https://www.docusign.com/how-it-works/security. Additionally, you should know that ExpanseOne, LLC does not collect or store any sensitive information. The security of your information throughout the entire process is part of our promise of a better experience with ExpanseOne. For more information, please view our privacy policy. ExpanseOne does not sell or share your information.





Pricing

How is the offer price for my home determined?


Your home is carefully evaluated by a team of real estate experts who specialize in your market. Using their knowledge, combined with ExpanseOne’s proprietary evaluation and predictive market analysis technologies, ExpanseOne is able to provide our customers with data-driven and competitive offers.




Are there other transaction costs that I should consider?


Sellers are responsible for certain closing costs—just like any traditional sale. These fees may include title insurance, escrow fees, HOA transfers fees, taxes, document transfers and other customary fees. These fees differ based on market and can range from 1% to 3% of purchase price. The ExpanseOne team is always willing to help you work with the title company or attorney’s office handling the transaction to get an estimate of your net proceeds.




How does my offer price compare to values on sites like Zillow?


The home values found on sites like Zillow, Trulia, Realtor.com, and Redfin, are determined by the site’s individual computer-generated algorithms. Those values are limited by the data that is available to them through public record. They look at the market’s history; not where it’s going. While our offer is not intended to be an appraisal of any kind, it is a real and actionable offer and is based on careful analysis by our team of real estate experts. We take time to evaluate and understand your home’s unique features and condition in the context of the market’s inventory and future supply.




What are the costs associated with selling to ExpanseOne?


ExpanseOne charges a service fee between 6%–10%. ExpanseOne allows you to skip the hassles of listing your home; however, once we buy and list your home, we’ll need to pay all the normal transaction costs that come with selling a home—including a commission to a buyer’s agent (3%), concessions to buyer, holding costs, maintenance fees, taxes and other costs to list and market the home.




How does selling to ExpanseOne compare to selling traditionally?


Selling to ExpanseOne is a competitive alternative to costs typically associated with listing your home on the traditional market. Our average service fee is typically 7%, as compared with the 6% most sellers will pay in commissions to list their home with an agent. View our comparison of a sale to ExpanseOne compared to a traditional listing.




Does ExpanseOne negotiate on their offer price?


The team works hard to make sure that our initial offer is fair and a competitive market price. However, if you feel that we’ve missed something about your home that affects our offer – we want to know. Please feel free to contact your ExpanseOne Homeowner Consultant and we’ll be happy to re-evaluate your property.





Accepting Offer

How do I accept an offer?


You officially accept our offer by signing the purchase agreement. Once ExpanseOne, you (and any other sellers) sign the agreement, we are officially under contract.




How do I sign the purchase agreement?


ExpanseOne makes it easy to sign your documents online using one of our electronic signature provider, DocuSign.




What if I don’t know the date I would like to close?


That’s ok. You can simply select the closest date to your best guess. We will send you an addendum to adjust the closing date when you’ve got your final closing date determined.





Home Assessment

Does ExpanseOne look at my home in-person?


Yes. ExpanseOne will perform a free, on-site inspection of your home prior to giving you an offer to purchase your home. The purpose the appointment is to verify the specifications of your home, its condition, and identify repairs that will need to be addressed prior to close.




Who will be inspecting my home?


Either an ExpanseOne team member or licensed property inspector (or both) will perform the inspection. If specialists are needed, we will partner with licensed contractors to provide additional insight and expertise and work with you to coordinate the scheduling of all property inspections.




What areas of my house are you looking at?


ExpanseOne will need access to your entire home during our inspection. When your inspection is scheduled, we will provide you with a guide that will help you prepare for the inspection and provide you with an overview of the most common items we evaluate during the inspection process.




What happens if the inspection finds repairs are needed?


If our inspection reveals needed repairs, you’ll have the following options:

  • Provide ExpanseOne with a credit.
Due to our volume and in-house resources, we’re able to keep required repair credits to a low and reasonable price point. To move forward with this option, you would sign an addendum to the contract. This solution means no money out of pocket, or work done by you. This is the most popular option by our sellers.
  • Make the repairs before closing.
You can hire a licensed contractor to make all the required repairs before closing. ExpanseOne will provide you a list of required repairs, and it would be up to you to ensure all items are completed to current building codes. ExpanseOne will need proof of the work being completed, contractor name and license number, before and after pictures, receipts, and visible approval by ExpanseOne during the final walk-through.
  • Decline to make any requested repairs or issue a credit.
ExpanseOne can then choose to cancel the contract or may determine that it still wants to move forward with the purchase of the home. If ExpanseOne elects to cancel the contract, there is no penalty to either party. Keep in mind, these repairs will most likely have to be addressed regardless if you sell to us or try to sell traditionally. A traditional buyer will typically want these same issues fixed (or credited) before they agree to purchase your home. In some circumstances, the repairs required on a home may be significant and require substantial funds to complete or special expertise to manage. In these cases, rather than add unnecessary stress to our customers, we will offer the option of a credit only.




How does the final walk-through work?


ExpanseOne typically performs our final walk-through of the home after you’ve moved out of your home. The walk-through is to confirm that all personal property has been removed and that the home’s condition hasn’t changed since we went under contract. For closing to occur as scheduled, it is critical that the property be clear of personal belongings and trash. Additionally, the property must transfer to ExpanseOne in the same condition as it was when we entered into contract, including landscaping and pool maintenance. If you elected to perform repairs through a licensed contractor, then the ExpanseOne representative will confirm that the repairs have been made. This is a short appointment and should take no longer than 30 minutes to complete; if you can’t attend the final walk-through, that’s no problem.





Closing

How quickly can I close?


If you need to close quickly, ExpanseOne will work as fast as possible. Below are the minimum timeframes to close by state: Georgia

  • Homes with no HOA: 8 business days
  • Homes in an HOA: 11 business days
Nevada
  • Homes with no HOA: 8 business days
  • Homes in an HOA: 11 business days
If the seller is not able to provide property survey, the closing will take another 2-3 business days. If you need a closing date within 15 days, you must make your home available for our inspection within the first three days of signing the contract—otherwise, we will be unable to accommodate your request.




I need a specific closing date to work with the purchase of my new home.


We are happy to work with you with a closing date up to 90 days from your signed contract date. As your closing date approaches, if you need the date adjusted, please let your Closing Consultant know and we will send you an addendum to your purchase contract. If you find that you need a closing date beyond 90 days, we may be able to work with you on a case-by-case basis.




What company does ExpanseOne use for title and closing services?


When ExpanseOne purchases a home, we use First American Title in all markets except Georgia, North Carolina and South Carolina. In those states, where closings are handled by law firms, we work with Albertelli Law. These firms make sure title is legitimate and then issues a title insurance for that property. In addition, they maintain the escrow account for the transaction and handle the funds for the transaction, including the earnest money deposit from ExpanseOne, payoffs to mortgage companies, HOA dues and any other transaction funds.




Can I change my closing date once I am under contract?


Yes, we can adjust your closing date at any point throughout the selling process. You have up to 90 days to close on the sale of your home to ExpanseOne and we are able to adjust this date within this period to your schedule.




Can I stay in my home after it closes?


Yes, ExpanseOne offers our Extended Stay program which allows you to stay in your home for up to three days after closing. This program helps sellers avoid the rush of having to close and move in one day. We hope by providing this service it eliminates the stress associated with selling and moving. Sellers taking advantage of the extended stay program are required to sign a post-possession agreement. There is no cost for this service, but certain details apply.




What are the specific details of the Extended Stay program?


You will be required to sign a post-possession agreement. The title company or attorney’s office who is handling your closing will hold back $3,000 from your funds from sale until the condition of the home is verified at the post-possession walk-through. ExpanseOne is expecting the home to be in the same condition as what is required of our final wal- through inspection. For example, if your closing date is on the 1st of the month, you will have until 5:00 pm on the 4th to completely vacate the home. Once the condition of the home is confirmed, the title company or attorney’s office will release the holdback funds back to you. Please be aware that the funds will be released as soon as possible, however sometimes due to weekends or holidays, they may not be wired to your account until the next business day.




How does my mortgage get paid off?


The title company or attorney office handling the transaction will send the final payoff payment to your lender, the remaining funds (less closing costs) will be wired to your bank account.




When do we sign the closing documents?


The title company or attorney’s office handling the transaction will schedule a convenient time for you to sign the closing documents. Typically, the closing takes place at the title company or attorney’s office although you may also request a mobile notary come to you. The date this happens is called the closing date or close of escrow. On your closing date, the sale is recorded on public record and the funds are distributed. The timing of this varies depending upon the state you live in and the time of day you sign your documents.





Moving

When do I need to move out of my house?


The home must be clear of all personal belongings and trash at least 24 hours prior to closing. Additionally, the property must transfer to ExpanseOne in the same condition as it was when we entered into contract, including landscaping and pool maintenance. ExpanseOne will verify the condition of the home prior to closing. If the house is not clear of personal belongings and/or trash or the property is not in the same condition as when we went under contract, your closing may be delayed.




What appliances can I take when I move?


This varies from state to state, and the typical practices are outlined below: Georgia Washer, dryer and refrigerator Nevada Washer, dryer and refrigerator North Carolina Washer, dryer and refrigerator South Carolina Washer, dryer and refrigerator Please note: In certain instances, ExpanseOne may request in our purchase agreement you to include the refrigerator, even though this may not be customary.




What do I need to leave my home when I move?


You will need to leave any built-in appliances, keys, remotes and any other items that belong with the home. Built-in appliances include, but are not limited to: your dishwasher, built-in microwave, stove, oven, cooktops, ice machines, trash compactors, water softeners, built-in refrigerators, R/O systems, window treatments, central vacuum and hoses, garage door openers and remotes, pool equipment, built-in BBQs, built-in fire pits, ceiling fans and light fixtures, pool fencing, pool cleaning systems, exterior landscape lighting, and built-in speakers.





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ExpanseOnes' Lease with Option to Purchase Program is offered and administered by Expanse One, LLC a Delaware limited liability company. Resident and property must meet eligibility criteria, which is subject to change. Expanse One is not affiliated with any real estate professional. Resident must qualify for a mortgage from a third party lender or pay the purchase price in cash to exercise the right to purchase a home. ExpanseOne is not a mortgage company, does not provide financing for a resident to purchase a home, and cannot guarantee that a resident will be able to obtain a mortgage loan

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