Here’s Our Easy, Step-by-Step Process for Buying Homes
STEP 2: We’ll arrange either an in-person or virtual appointment to assess the condition of the house and determine any necessary repairs. Typically, this process takes about 1 hour.
STEP 3: We will make you a cash offer that day! If our offer works for you, we will send you a simple 2 page seller document to complete and send back.
STEP 4: Select a closing date that suits your schedule and rest easy knowing our team is taking care of all the details to ensure a smooth and hassle-free closing.
STEP 5: Arrive to closing with your ID, sign the closing documents and COLLECT YOUR CASH!
How Our Offers Are Calculated !
STEP 1: By analyzing comparable sales, we determine the market value of your home after we purchase and renovate it. This is called the After Repair Value or ARV. We use the exact same database that realtors use to determine this value.
Here’s a picture of ARV in action:
STEP 2: We calculate the Repair Cost or RC. As the name implies, this is the cost for repairs and updates required to sell the house at the after-repair value we previously mentioned.
STEP 3: We calculate Selling Costs (SC). Selling costs in real estate are an industry standard and are typically 9% to 10% of the After Repair Value (ARV). Real estate selling costs include realtor fees and commissions, transfer tax, inspection repairs and escrow and reconveyance fees.
STEP 4: We calculate Return On Investment (ROI). It’s a business after all. Our desired return on investment ranges from 10% to 15% of cash invested, based on the scope of the project and how long the project will take.
STEP 5: We plug these numbers into our formula:
[Your offer] = [After Repair Value (ARV)] – [10% of ARV (selling costs)] – [Repair Cost] – [Return on Investment]
Here’s an example:
As-Is Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . What the house is worth without repairs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $190K
After Repair Value (ARV) . . . . . . . . . . . . . . . . Let’s use the ARV from our sample above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $300K
Cost of Repairs (COR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $70K
Our Selling Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10% of $350K . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $30K
Our Return On Investment (ROI) . . . . . . . . . . . . . . . . . . 10% to 15% of ARV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $40K
[Your Offer] = [ARV] – [COR] – [Our Selling Cost] – [Our Minimum Profit]
Your Offer – $300K – $70K – $30K – $40K = $160K
Your Offer = $160K
Evaluating the Offer
If the house is valued at $190K, listing it with an agent would mean selling it for $190K, minus 6% in agent fees and closing costs, leaving you with approximately $174K.
So Now You Have To Decide…
Sell it for a guaranteed sale of $160K and close in as few as to 10 – 20 days or a “maybe sale” for $174K after waiting weeks to months? Why take the risk or stress for that?
Keep in mind, when you sell to us, you won’t need to make any repairs or even clean out unwanted items. There are no showings, inspections, appraisals, or mortgage contingencies that could delay the sale of your home or affect your closing date.
There is absolutely no risk in calling us for your free offer.
There is never any obligation to accept.
Just call us at (205) 922-0110 or fill out the form below to get started.
What Do You Have To Lose? Get Started Now…
Fill in the form below to get started today!
We Buy Houses For Cash.
As-Is. Without Agents. Without Hassles.
If you're ready to sell your house without making repairs or facing the uncertainty of the listing process, call today for a no-obligation offer.
Call Us! (252) 256-9515