You likely have some questions about how it works when we buy houses for cash! Here’s the most common ones we get:
Here's some stuff
What do we consider to formulate your cash offer?
How do we calculate your cash offer?
What are all the little details when we buy houses?
How long does it take?
Let’s get right to it and answer all your “how it works” questions!
We make the process for you to sell your New York home as easy as possible. Here’s how it works when we break it down into 3 simple steps:
Meet Ben (local New York home buyers), it’s Ben you’ll talk to about your offer. His goal is to give you the strongest offer possible so we can buy your New York area house. To do that, we need to understand your needs. Like…
How quickly do you want to sell your Oahu house?
Why are you selling?
What’s the condition of the house?
How much do you need for it?
What’s important when you sell?
“So how much am I going to get for my New York house?” This is usually what everyone is most eager to know. For good reason, you want to get a fair price! So let’s break down how it works when we calculate how much we can pay for your house.
things first: we use a simple formula. There are 4 different parts of the formula and we’ll cover what each parts means and how we calculate them, but let’s first take a look at the overall formula.
Let’s break down each of the 4 different figures one by one, starting from the beginning…
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. Sites like Redfin and Zilloware great resources to look for comparable sales.
Next is the cost of rehabbing the property (“Repairs”). This is what we estimate it would cost for us to fix it up. 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.
After that, we take into consideration the transaction costs (“Trans. Cost”). 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.
Lastly, we determine our minimum profit (“Min. Profit”). Real estate is how we support and provide for our family and if we aren’t profitable, we wouldn’t get to stay in business so this is something we must factor in. 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.
So we start with what we can potentially resell your New York house for (“ARV”), then deduct all of the repair costs, deduct the transaction costs minus our profit… what is left is our maximum allowable offer – what we offer you for your house!
We buy houses in New York without agents, so you will NOT pay commissions!
We purchase houses in any condition – no matter what’s wrong with the home, you don’t have to fix anything or even clean it.
We pay for ALL of the closing costs and fees to sell. There are no fees for you whatsoever.
We can close on your timetable – no matter how fast or slow you need!
We pay cash for houses – this way there are no hassles like working with a bank and doing inspections or appraisals.
We buy New York area houses “creatively” – when a cash offer isn’t the right option for you, this is a great way that we can pay more for houses if you are willing to take the money over time.
We can give you an offer as quickly as 30 minutes after getting your information. The offer will still be contingent on viewing the property but if you need something more certain, we can be out to your house within the same day if you need and make an offer right on the spot. We truly work on your schedule.
Again, this is going to be up to you! Are you trying to do a quick close and have your money in 7 days? No problem. Or, maybe you need 60-90 days so you can find a new house and get your ducks in a row before you relocate? It makes no difference to us! We’re adaptive and will line the deal up so its convenient for you.
We are a local company that buys houses for cash. We specialize in helping homeowners get rid of burdensome houses fast. We are investors and problem solvers who can buy your house fast with a fair all cash offer. If you need to sell your house fast, give us a call!