Questions
Straight answers.
Everything owners, builders and professionals actually ask us — including the awkward ones.
What kind of properties do you buy?
Older houses on lots that support a substantially larger build, in neighbourhoods where builders are actively working. Interior streets rather than arterials, flat and regular parcels, any condition at all.
We are buying the land. The house on it is usually coming down.
My house is in bad shape. Is that a problem?
No, and it rarely changes the number much. Deferred maintenance, a failing roof, storm damage, dated everything, a house that has sat empty for years — none of it is disqualifying, because we are not planning to live in it.
The one thing that does matter is anything affecting the land: flood plain, an easement running through the buildable area, or a lot too narrow for what a builder needs.
Do I need to clean it out?
No. Take what you want and leave the rest — furniture, belongings, tools, debris. Clearing the house is our expense.
This is the answer that matters most on inherited properties, where the contents are often the reason a family has done nothing for two years.
What if the property is part of an estate, or in probate?
Common, and we are used to it. Tell us early so the contract and the closing date account for the court timeline rather than fighting it.
If you are the executor, you will usually need letters of office before you can sign. Your probate attorney will know exactly where you stand — and if you do not have one, that is worth sorting before anything else.
There is a tenant in the house.
Workable. We need to know the lease terms, whether there is a written lease at all, and whether the tenant is current. We would rather buy occupied than have you attempt an eviction on our behalf.
Can I stay in the house after closing?
Yes, and it is more common than people expect — usually when someone is waiting on a build, a school year, or a move out of state. It is written into a separate Seller in Possession Agreement at the time of contract.
Raise it at the start rather than the end. It is straightforward when planned and awkward when sprung.
How do you arrive at a number?
Backwards from what a builder can sell a finished home for on your specific street. From that we subtract construction cost, carrying cost, permitting and the builder's required margin. What remains is what the land supports, and our offer comes out of that.
You get the reasoning, not just the figure. If our number does not work for you, the analysis is still yours to use.
Will you pay what my neighbour got?
Sometimes, sometimes not. A renovated house sold to a family and a teardown lot sold to a builder are two different markets, even on the same block. Lot width, depth, orientation and what the village will permit can separate two neighbouring parcels by a large margin.
Is your offer negotiable?
Within reason. There is a ceiling set by what a builder will pay, and we cannot invent room above it — but if you know something about the lot we do not, tell us. Assembled parcels, alley access and unusual depth all move the number.
Do I pay any fees or commission?
No. Neither side is represented by a broker, so there is no listing commission out of your proceeds. Ordinary closing costs are allocated in the contract and we will tell you plainly which side carries what before you sign.
How fast can you close?
Three weeks is realistic when title is clean and nothing is in probate. More often the pace is set by whatever you need — most of the waiting in any sale is title work, which we start on day one.
What happens after I sign?
Escrow opens, the title commitment is ordered, our earnest money goes down, and we walk the property once. Our how it works page lays out every step in order.
Do you actually buy it, or do you sell my contract to someone else?
Usually the second, and we would rather say so than have you discover it at closing. We contract the property and then place it with a builder whose criteria it fits, assigning our contract to them or closing and reselling.
What that means for you: your price does not change, our income comes from the builder's side rather than yours, and your contract is with us either way. We are responsible for closing it.
Will my property be listed publicly?
No. Nothing goes on the MLS. Your address is shown to the builders whose stated criteria it fits and to nobody else.
Do I need my own attorney?
In Illinois a residential closing normally involves an attorney on each side, so yes. In Arizona closings run through a title and escrow company and an attorney is not typically involved.
Either way, have someone read the contract before you sign it. We would rather you did.
I build. How do I see what you have?
Register a buy box on our partners page — the pockets you work, your frontage minimum, your price band and how quickly you close. You hear from us only when a site fits. Nothing is blasted, and your criteria are not shared with anyone.
I am an agent. Do you compete with me?
No. We are a principal buyer, not a brokerage, and we are not chasing listings. Owners who genuinely belong on the open market we send to agents rather than leave stranded.
If you bring us a buyer, you are paid for it — agreed up front, in writing, and settled at closing through your brokerage rather than to you personally, so nothing about it touches your licence.
I am an attorney, lender or architect. What is the arrangement?
Work in both directions and no money for introductions. The partners page sets out exactly what moves each way for each profession.
With attorneys, lenders and title companies no fees change hands in either direction — ethics rules and federal settlement law both see to that, and neither side needs it.
Where do you operate?
Nationwide, with concentrated work in Scottsdale and Paradise Valley and across Chicagoland and the North Shore. If your property sits outside those but fits, send it anyway — we would rather look and say no than miss the right lot.
Are you a licensed real estate brokerage?
No, and we do not act as anyone's agent. TerraLux is a principal buyer — we buy for our own account and may resell or assign our interest. Nothing we tell you is legal, tax or financial advice.
How do I reach a person?
Call or text (623) 352-8277, or email info@terraluxacquisitions.com. Most enquiries get a reply the same day.