Hi there, this is Alex from Coastal Edge Homebuyers. In this video, we’re going to go over 3 questions to answer before selling your house. If you’ve got a house that you want to sell, or you need to sell, maybe fast, or there may be some type of a situation that is prompting you to sell faster.
So, you need to answer 3 questions and based on those answers, then you can determine who to sell it to, and how fast it will happen.
- Number 1: How fast do you need to sell?
- Number 2: What is the condition of the house?
- Number 3: How much you want to get for the house?
What are you hoping to get for the house and I say “hope”, because we’re going to talk a little bit of price later, but the main thing here to understand is that whatever the market is willing to pay for the house – that would be the price at which it will sell, it’s not the price that many people think they should get or whatever the city assessment says or the tax assessment or some somebody that sees something online.
It all depends on reality, based on numbers and what the market can actually do and pay for that house. The market meaning the buyers – whether that’s a retail buyer or an institutional buyer, or rehabbing company like ours, it doesn’t matter. It’s whatever the market was willing to pay.
1. How Fast Do You Need To Sell?
So, the first question was – how fast do you need to sell? If you need to sell very fast, you’re probably – the best case scenario – is to sell to a rehabbing company (a company like ours) that We Buy Houses With Cash. We buy in any condition, anywhere in the Hampton Roads area, fast with cash and we can close in 2 to 3 weeks, and it’s a done deal! There’s no faster or easier way to sell a house than it is to sell to a cash buyer just like us – like Coastal Edge Homebuyers – so how do we do this? How are we able to accomplish this (fast transaction)? It’s because we use our own money – we don’t go through banks, so no lengthy approval process, no millions of pages of paperwork, we just do have access to funds quickly – cash – and that’s what we do – cash offers any day, all day, so that’s how we pay. We help people out – whoever needs to sell very fast, they call a company just like ours to accomplish this, because if you go through a realtor, you’d be looking at a minimum of 1 to 4 months of sales time. Sometimes, you need to do it (sell) faster – you know, maybe it’s an inherited house and you have to do it quickly – sell it, get the money and distribute it between the heirs, or it could be a somebody who’s maybe having some type of trouble – could be a health issue, maybe a criminal related issue, or you need to go out of state for a job quickly, or some other reason, maybe there’re liens that have been piling up, maybe there’s a foreclosure pending and you need to act fast… There is no faster or easier way to sell a house than to sell to a cash buyer (like us).
2. What’s the Condition of Your House?
The second question you needed to answer is – what is the condition of the house? So how does that affect things? If the house needs a significant amount of repairs, you’re probably going to sell it to a rehabber, just like us, and it doesn’t matter if you directly reach out to us, or you go through a realtor – the house will end up the same way (same buyer), because even if you go through a realtor, the house will still be purchased by company like ours. Why? It’s because if you go through a realtor and you put it up on the market, it will not be a regular buyer who will go to a bank and get a loan, because if your house needs significant amount of work, there is no bank that will give them a loan, so they (retails buyers) are not your buyer, so a regular individual who wants to get a house, or a family or whoever who attempts the usual method – to get a (bank) loan to fund the deal, get a mortgage and buy a house. If the house needs a lot of work it will ( 9 out of 10 times) be purchased by an investor, a rehabber, just like us, and the pricing there is a very important part and this.
3. What Price Are You Hoping to Get?
Now the third question, so what are you hoping to get (price-wise)? Alright, that is the last question you need to answer for yourself. Now, you can hope for certain numbers, you can do your homework, you can speak with friends, relatives, realtors, you can come up with some numbers, but know this – at the end of the day, you will probably end up still selling the house for a number (price) that the market will bear, that the market will pay.
You can start with certain desired number, but you have to know that if that number is not selling the house, then you have to lower it. There is no other way, as we’ve seen houses sit on the market for 6 months or more and they don’t sell. I’ve got to tell you – even if the house is in bad condition, there is a right number at which anything will sell, including a house. I just want you to understand that and a lot of people fall for this you have emotional attachment to the house, you don’t ever want to get less for what you paid for it, even if it was 20 years ago or two years ago.
A lot of people have this math in their own heads, but you have to know that if you’re not getting that number you want, obviously you’re not going to get it, or you have to wait months and months, to get it… maybe. So, how do you figure out the right price? You can speak with us – you can call us at any time at 757-414-7117. We’ll be more than happy to go over all the numbers and the options for you, even if these options, or most of them, are having to do with you selling to someone else and not to us, but that doesn’t matter- we’ll be happy to help you anyway, because when you have a house that needs work, there is absolutely nothing in the world, no website, that will show you the real price of your house. It just doesn’t exist, because there is no software tool that will actually send somebody to your house and look at your house, estimate the repairs, and then come up with a number. The only way to do that is to call the company like ours, that will come out and see how much work the house needs.
Based on how we operate, basically we’ll tell you what any investor will pay for it, or any rehabber would pay and it doesn’t make a whole lot of a difference whether that’s a direct sale to us, or maybe you go through a realtor. Now remember – when you go to a realtor it’s going to take longer and it’s going to be commissions you have to pay, right, 6% – that’s the norm, so in a $200,000 house is $12,000 commissions, so basically you have to make that choice – do you want to sell faster and easier?
Then you would get a cash offer from company just like us, like Coastal Edge Homebuyers, or if you have the time to wait especially if you have some money to put into some improvements in the house if it needs work, at least at a minimum some cosmetic fixes, you know like carpets, flooring, some obvious problems, you know – holes in the wall, things of that nature, paint obviously, something on the outside, maybe lawn care so, if you if you have the time and some funds to actually put into the house and fix up some things, yes you will be better off selling through realtor, but if you don’t want to do any work to the house, and believe us – that’s where we come in many people call us because that’s exactly what they want – they say “I don’t want to pay any commissions”, “I don’t want to go through Realtors”, I prefer to sell it fast, quickly for cash, and I don’t want to do a single thing to the house”, “I even want to leave everything that’s in the house in there”, “I don’t want anything I just don’t want to pay to clean it up, or even do any repairs”, that’s where we come in – that’s how we buy houses from people, who want exactly that, so keeping that in mind, you know when you answer these questions for you – about your timeline, the price expectations and all, and of course the condition of the house, that plays a role in the pricing and the speed for of sale then you will find out how to proceed about selling your house. This is not very complicated, we’ll always be there to help you, our service is free – you have zero obligation if you call us and ask some questions.
We’ll be happy to take a look at the house or even give you some advice on the phone, it doesn’t matter. Remember – there’s zero obligation. We Buy Houses only when it makes sense for both of us – for you and for us – we don’t buy every house we see and that’s the way it is. We’re happy to help anyone with any type of situation and we’ll be more than happy to go over all of your options and help you choose the best one based on your situation, so if you’ve got a house, especially if you have a situation that is prompting you to want to sell fast, if you have a house in Hampton Roads (anywhere in the 7 Cities) give us a call, you’ll be glad you did. We’ll be happy to go over all the options for you and help you out. We’re costal Edge Homebuyers and you can reach us at 757-414-7117.