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How To Sell A House That Needs Work

How To Sell A House That Needs Work

Hi guys! This is Alex from Coastal Edge Homebuyers. In this video I wanted to cover a question that we often get and that is – Why people sell to you versus going through an agent, or for sale by owner (FSBO)? Ok, the people that we do business with are the people that need to sell their house fast. We are Coastal Edge Homebuyers, we’re a local company here in Virginia Beach and we buy anywhere in the 7 Cities of Hampton Roads. We buy houses from people who want to sell fast for cash and do not want to do any repairs, or cleaning on the house and usually we buy houses that need work, not in all cases but most often houses that need work and sometimes – a lot of work 😊 and last but not least, we also buy land, so if you have a piece of land that you need to sell, we can also talk about that.

Selling to Us Vs. Selling Through An Agent

So why would somebody choose to sell a house to us versus going through an agent or for sale by owner? Well, if you’re wondering which way to go, you can always call us and we’ll be happy to help you out our number is 757-414-7117. Some details on why people choose to work with us versus going through an agent – well for example, you control your own closing date when you work with us.

There are no multiple showings, no commissions, just hard cash 2-3 weeks closing time and that’s it! We can even close on the desired date of your choice, if you need some time to maybe sell some things from the house, or pick up some items from it, whatever the case may be so, you have the convenience to choose your own closing date when you work with us and especially, if you need money fast we can help you.

It takes about couple of weeks in some cases, if the title is clean and we can close that quickly. Usually, it mostly depends on title and that’s it. We don’t use Banks. We use our own cash, so it’s we can do very very fast transactions, without you having to do any cleanup or repairs on the house, which is a great benefit, because if you want to sell the house for sale by owner, or go through an agent, you will often be advised to do some repairs, multiple showings, maybe staging too, you still have to pay commissions… now, when you do for sale by owner (FSBO), you don’t pay the seller’s commission, meaning the 3% you would usually pay otherwise to your agent that represents you as a seller, but you still need to possibly pay the Buyer’s Agent commission, which is another 3%, so when you’re selling to a retail buyer you would pay usually pay commissions, but when you sell to us, there’s no commissions, there’s no fees.

Whatever you hear is what you get on the closing table! It’s very quick and easy and in that speed and convenience is actually what people see the value in, when working with us.

Who Do We Help Most?

That’s who we help – people who need to sell fast and easy, maybe you’ve retired, or, there could be a number of other reasons why you want to do this, for example if you have a house that needs a lot of work it will still probably end up in the hands of an investor or a rehabber – just like us.

In any case, whether you go to a realtor of for sell by owner because if the house needs a significant amount of work, you probably cannot sell it to a retail buyer for a top price, because no bank will ever give them a loan to buy it, unless they have cash and they want to do repairs and things of that nature, which is rare in most cases. If your house needs work it will be purchased in most cases by a company that does rehabbing, or “Buy and Hold” buyer, such as for rental purposes so, basically our transactions are quick and easy and we help people in many different situations.

I’ll give you several examples – it could be a foreclosure that you’re facing, maybe there’re leans and judgments, maybe things are getting out of hand and you cannot handle them, maybe the house has a lot of deferred maintenance (not all the updates were done through the years), maybe it’s been decades, maybe the house is full of stuff so, maybe you don’t want to go to a realtor because you don’t like to have multiple showings, because you may not feel very comfortable showing a house that is full of stuff and it’s perfectly fine, you know, we do not care about the stuff so much as we do for the structure of the house.

So, you can always sell to us, it’s super quick and easy – you don’t have to do multiple showings or deal with many people that will come in and out of the house like through revolving door, so some people don’t really like that at all. That’s why they come to us and they sell direct with one simple transaction so uh it could be again number of different reasons why somebody may want to sell faster for cash, versus the way which is longer – to go through an agent and sell that way, which probably will bring you more money, but it’s more involved – you’ll pay commissions, you’ll have to do cleanup, repairs, and many other things, you may or may not want to do.

What Situations We Deal With Most?

So, inheritances, leans, judgments, tax issues IRS, whatever the case may be, maybe a medical condition that’s prohibiting you from putting money up away and do a project management situation where you would fix up the house yourself (rehab it) and put it on the market. If you’re able to do it, by all means go ahead and do that yourself, because you’re going to get a better return on investment, but not everybody has the ability or the desire to do so and that’s who we help, so if you have any other questions and if you’re wondering which way to go about selling your house, give us a call, there’s no obligation at all for us to take a look and give you the best choice, the best option for your situation. You can call us at: 757-414-7117.

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