Marcus Property Group

Questions, answered plainly

These are the questions we hear most from home sellers and from housing partners. If yours is not here, ask us. Every offer is based on the specific property and situation.

Selling a house

Can you buy my house if I still owe on the mortgage?

Often, yes. With a Subject-To purchase the loan stays in place and we take over the payments. Whether it fits depends on the loan, the house and your situation, so we review the details first.

Do I need to repair or clean out the house?

No. We buy houses as-is. You do not need to repair, clean out, stage or show the house. More on selling as-is.

Will I pay commissions or fees?

No. We buy directly, so there are no agent commissions and no fees charged to the seller.

How do you decide what to offer?

Every offer is based on the specific property and situation. We do not quote a number before we have reviewed the house and the loan, and when we make an offer we show how we got there.

How fast can you close?

We close on your timeline where the situation allows. We do not promise a number of days, because it depends on the house, the loan and any estate or court steps.

What if I am behind on payments or facing foreclosure?

Talk to someone early. We may be able to take over the payments through a Subject-To purchase, but we cannot stop a foreclosure by ourselves. A HUD-approved housing counselor can also help at no charge. Read more.

Can you buy a house that is in probate or was inherited?

Often, yes. We work with the executor or administrator, the family and the estate attorney, and we follow the steps your state and the court require. See probate and inherited houses.

Can I sell a rental with tenants living in it?

Often, yes. A lawful tenancy generally stays with the property, and we follow local and state tenant protections. More for landlords.

How the terms work

What does Subject-To mean?

We buy the house subject to the existing mortgage. The loan stays in place and we take over making the payments. The full explanation is here.

What is a due-on-sale clause, and should I worry?

Most mortgages contain a clause that lets the lender call the whole loan due when the house changes hands. We cannot promise how a lender will act. We explain this risk before you sign, and we suggest you ask your own attorney.

Do you use wraparound mortgages?

No. Marcus Property Group never uses wraparound mortgages.

When is creative finance not the right fit?

It may not fit if you need a large lump sum at closing that the terms cannot provide, if you cannot accept any risk from a due-on-sale clause, or if you have time and money to repair the house and want the widest open-market sale.

Housing partners

What is a master lease?

A master lease is one lease for a whole house. The housing partner leases the entire house from Marcus Property Group, places the residents and runs the program. Marcus Property Group stays the landlord.

Does Marcus Property Group run the housing programs?

No. We are the landlord, not the operator and not a licensed care provider. Our housing partners place residents and run the program.

What does the house look like?

Turnkey houses with four or more bedrooms, two or more baths and 2,000 or more square feet, near public transit.

Which kinds of programs do you partner with?
Who is responsible for licenses and local approvals?

The housing partner. Rules differ by state and city, and the operator confirms what its program must hold before a lease is signed.

About the company

Is Marcus Property Group a nonprofit, a brokerage or a lender?

None of those. We are a family-run real estate investment company based in Los Angeles. We are not a brokerage, lender or licensed care provider.

Where do you work?

Six regions: Los Angeles north (San Fernando Valley, Santa Clarita, Antelope Valley), Dallas-Fort Worth, Houston, Kansas City in Missouri and Kansas, the Atlanta metro, and North Carolina (Fayetteville and Raleigh-Durham). See the markets.

Still have a question?

Send it over. A real person in a family-run company will read it.