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How to Sell My House Fast in Portsmouth VA

How to Sell My House Fast in Portsmouth VA
Hello, everyone. This is Alex with Coastal Edge Homebuyers here. I hope everybody’s doing well. In today’s quick video, I wanted to talk a little bit about several different situations which may press you to sell your house fast, or sell it quickly. If you have a house let’s say in the Portsmouth, Virginia, and some situation came up and you’re asking yourself, “How do I sell my house fast in Portsmouth, Virginia,” there are several options that you can consider.

What type of situations can prompt you to do that? Well, one of them is possibly a divorce, or maybe a loved one that just passed away, or you want to downsize, or just move out of state for some reason and you want to do it rather fast. What are your options?

If the house is not in perfect condition, and believe me, most houses I would say are not, they all need a little bit of work or a lot of work, to get them up to the best market conditions, especially if you want to get the best retail value for your house, then you’re going to have to deal with the situation of either selling the house quickly, the fastest way possible, that would be probably to an investor like us, or, to work with a real estate agent and prep the house up for the retail market.

How do you tell apart agents from investors and what are the differences between them? Well, it depends on what you want to do with the house, you may deal with one or the other type of professional to sell your house. Real estate agents, they will help you sell the house. They will ask you to sign an agreement with them, so they can market the house for you, and they will probably ask you to do some repairs to the house.

Of course, they’ll help you along the way, but you have to prep the house for the retail market so they can get the best value out of it and sell it up to those numbers that you see on the websites where most people go to buy a house, usually through getting a traditional loan from a bank. You’re going to need money to repair the house. At a minimum – carpet, paint, and such, and you have to use neutral colors.

Usually in today’s market, if you want to get the best value, the highest amount of money for the sale price, you have to do a total renovation, or if you’ve done one, that has to be recently. If you’ve done renovation 5 or 10 years ago, it wouldn’t count. You will not get the best dollar for it. Because the truth is, when you’re looking at the best houses in the market that have the highest prices, these are the ones that have been renovated in the last 1 to 3 months. Everything is brand-spanking-new there.

So you may have a situation where you want to sell your house fast in Portsmouth, Virginia. When you’re selling through an agent, it may take one to four months, depending on the situation, how much money you have, how much you can put into fix it, and then the marketing of it by the agent. And at the end of the day, you’re going to have to pay commissions to the real estate agent. How much are those commissions? Usually it’s about 6%. So on a $200,000 house, that’s $12,000 that you’ll need to pay as commissions for the deal to go through.

You’re paying both the selling agent, the one representing you, and the buying agent, representing the buyer’s side – whoever person will be buying your house is represented by an agent. That’s where usually the commission is split in half and both agents get half, which is 3% each. What about the house that needs to be sold fast? If you need to sell it quickly, you can call an investor. This is what we specialize in. We’re Coastal Edge Homebuyers and we buy houses locally.

We can help you. There are no commissions, no agents, and the house can be sold rather quickly. We can buy it “as is”. What’s the catch here? Well, there is no catch. The only thing you need to understand is that when you’re getting a cash offer from an investor, from someone like us, the cash offer usually is not going to be even near the retail value that you could get if you completely renovate it and put it up on the market. And that’s kind of obvious. For selling the fast “as is”, you’re going to get a different value.

It’s going to be usually a lower cash offer that you’re going to get if you renovate fully, but it’s never going to be a low-ball offer from us. It’s going to be a fair cash offer based on the current condition of the house, the location, the current market and everything else that plays a role in defining what that price would be. Now, there are some other creative financing options that can be explored depending on several factors, including how long have you owned the house, do you have any mortgage that is still owed on it, and a couple of other factors.

You can call us and we can help you determine your options and see what may be the best option for you to sell the house. If you’re asking yourself, “How do I sell my house fast in Portsmouth, Virginia”, you’re going to have to figure out how fast you want to sell it. The fastest way is through an investor, through someone like us, like Coastal Edge Homebuyers, because we buy houses locally. We pay cash. We can buy the house “as is”, in any condition. No need to clean. No need to do any repairs.

We buy it “as is” very quickly, and we can close in as little as seven days. Actually the record might be around three to four days, depending on the paperwork readiness and a couple of other factors. The fastest and easiest way is to get an all-cash offer. Yes, that would be the lowest offer compared to others (after complete rehab), but you get the speed of sael, because sometimes that is the most important thing when you’re trying to sell a house.

Now, if you have the money and the time to deal with contractors and get it up to speed with the latest trends of the markets today, if you’re willing to spend anywhere between $15,000 to $50,000 to repair and renovate the house completely, yes, you can sell it for top dollar amount. But again, if you need to sell fast, if you’re wondering – “How do I sell my house quickly in Portsmouth, Virginia”, you can call us and we can help you go over your options. We buy anywhere in the Hampton Roads area, including Portsmouth and all the other six cities of the Hampton Roads area.

If you have any other questions, please give us a call. We’ll be happy to take a look. Usually we make offers very quickly, on the spot. Sometimes we don’t even have to see the property. But in the best case scenario, we would like to come in, take a look inside and outside of the house, and you’re going to get a fast cash offer right on the spot, or within 24 hours afterwards. If you have any other questions, we’ll be happy to help. Just give us a call. We’re Coastal Edge Homebuyers, and we’ll be glad to help you out and resolve your situation.
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