Hi everyone. This is Alex from Coastal Edge Home Buyers. In today’s video we’re going to go over the options for those of you who have a house that needs repairs. You don’t want to go through with the rehab and now you’re wondering, “How do I sell my house?” Let’s say it’s located in Hampton, Virginia. And you’re wondering how do I sell my Hampton house? It needs a lot of repairs. What’s the best option there? This is what we’re going to go over today. So the house that hasn’t been kept up with, maybe it was inheritance, or maybe you’ve been renting it out for a long time and it wasn’t kept up as far as repairs and updates. So what do you do with this house today if you’re willing to sell it. Or, maybe you have a need that is prompting you to sell it fast. What are your options? Well, as a quick idea, if you want to do a quick rehab, put it up on the retail market, this could work. If it’s not a full rehab, you will probably not going to get top dollar for it, but it can still work.
Another option is, if you actually have some time (and money), you can get it rehabbed fully, which can take anywhere between in one to four months, depending on the size of the house and how much work it really needs. If you go with that option, you’re going to get top dollar in the end. You’re going to rehab it all the way through, which means you have to work with contractors, you have to pay for the labor and all the materials. If something goes wrong, it may have to be redone, and in today’s day and age, this is April 2022, it’s not that easy to find good contractors that can do a good job and do it fairly quickly. But it can be done. It’s just a bit harder than maybe it was three or five years ago. In any case, you can get the house rehabbed and you have to pay for all the repairs all the way.
And then the house has to be staged. You have to work with a real estate agent, and they will help you list it on the MLS. And basically, it’ll be put up for sale online. You’re going to sign a contract with the real estate agent. You’re going to get them a certain percentage of the sale, 3% or 6%, so the house will be sold and you’re going to get the proceeds from that minus the realtor expenses (the commission), also expenses for the staging and all the rehab. This could be a pretty long, extensive and a difficult venture, but it’s doable. Now, what other options are there? Well, you can rent it out. You can continue to rent it out, with or without making any further repairs. That’s always an option, but if you are done with this, if you just want to hang up the boots from renting out houses and just sell this one, or others you may own, you should look for another option.
The other option is to sell it for cash to an investor. And this is what we specialize. We are Coastal Edge Homebuyers, we buy houses locally, we’ll buy it with cash. Usually we make one or two different offers, depending on the situation on the house and how you want the money. And basically you’ll get an offer after we take a look at the house and you’ll be out on your way with some cash in your pocket in no time. Sometimes in as little as seven days, we can close very quickly! And the other good news with working with someone like us is, there’s no financing approval process. It’s very quick and easy. It’s a lot of speed and convenience in making a deal like this with an investor. And we buy obviously at a discount, we’re not going to be at a retail level, because we’re buying houses in “as is” condition.
The convenience for you is, as a seller, you don’t have to do a single thing to the house. There is no cleaning, you can leave all the things (the stuff) inside the house. It doesn’t matter what it is, or how long it’s been there. It doesn’t matter if it’s dirty, no cleaning, no staging, no rehabbing, no repairs, absolutely nothing for you to do. Of course, you can pick up things you want from the house, if you want to keep something, we can help you even with that. But other than that, you can leave it all exactly as is. This is what we do. We are going to get you a cash offer and what you hear is exactly what you get – no hidden fees, there’s nothing else to pay.
We buy houses locally and we can buy your Hampton house. If you’re wondering, “How do I sell my house that needs repairs in Hampton?”, we can help you. This is what we specialize in, and we’ll be glad to take a look at your particular case and see if we’re going to be a good option for you. We are not able to help everybody. We look at the situation, we go over all your options, so you can make an intelligent choice, whether or not you end up work with us. We are always here to help you. It costs you nothing to call us and get an offer from us. There’s a zero obligation for that. All we need to do is have a chat about the house.
If you want to get an offer, we prefer to see the house. We know there are some companies out there who do offers over the phone, but we tend not to do that, because how can you make a good offer or a repair estimate on a house that you’ve never seen in your life? Obviously that’s not possible from accuracy perspective. We’re local here, we are actually situated in Virginia Beach, but we serve all the seven major cities of Hampton Roads, and of course – including Hampton. If you have any questions about our process or what to do with a house that needs repairs, just call us at any time and we’ll be happy to help. We are Coastal Edge Home Buyers, and you can reach us at 757-414-7117. Thanks.