Once we get your details, we’ll get right to work evaluating your house to form an offer. We may call to ask a few questions that will help us better understand your situation and create the bets possible offer for you. Remember, getting an offer is FREE, and there are never any obligations!
We’ll call you to give you your offer! Your offer will include a specific purchase price, and we’ll also walk you through all of the terms of our no-hassle contract. We promise it will not include any hidden strings, confusing terms, or gotchas. Our commitment is to create a win-win for everyone involved.
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We close at a local reputable title company on the day of your choosing. You don’t have to wait weeks or months for bank approval—your cash can be in your hands in as little as 7 days! We have the cash ready for you. No stress, no hidden strings!
The most common question we are asked is how we calculate your offer. Let’s get right to it and break down our offer calculation methodology!
We use a simple formula that contains 4 parts, and we’ll go over what each part means and how we calculate it.
[ARV] – [REPAIRS] – [TRANSACTION COSTS] – [PROFIT] = $ YOUR OFFER $
The After Repair Value (“ARV”), is the price we think we can sell the house for after it’s all fixed up. To find this number, we look at recent sales for similar homes in your neighborhood, and complete the same process of creating a competitive market analysis that real estate agents and appraisers use.
This is what we estimate it would cost for us to fix it up. Our in-house contractor will get some information about the condition of your house and use it to quote renovation costs. We like to do quick, in-and-out rehabs that keep our costs low instead of elaborate jobs – which is how we can pay more than the competition.
If we’re going to resell the house, we need to make sure we give ourselves room for the commissions, closing costs and holding fees to come- which is usually about 10% of the ARV.
Real estate is how we support and provide for our families, and if we aren’t profitable we won’t get to stay in business. Our minimum profit is dependent on the purchase price of the home. The higher we pay for a home, the more profit we need to make to offset the risks and miscellaneous expenses that always pop up when renovating a home.