Sell a House Fast in Virginia Beach VA

Sell a House Fast in Virginia Beach VA
Alex:
Hi, everyone. This is Alex with Coastal Edge Homebuyers here. I knew I shouldn’t have been at the beach for that long today… We’re in Virginia Beach, Virginia. We are located here in the Hampton Roads area, so we’re trying to enjoy the last days of summer of 2021. So you can probably see some of that summer on my face right now, but the purpose of today’s short video is to go over some information for those of you who have a house in Virginia Beach VA, and you need to sell fast. So if you’ve been wondering, “how do I sell my house fast in Virginia Beach, VA?” this is a video for you to check out. We’re going to go over some information and maybe some misconceptions about that also.

For example, I was speaking to a home seller several days ago and they wanted to sell a house that they had here in Virginia Beach. And the seller told me, “Well, look, Alex, the house needs a new kitchen. I know that much. Everything else is fixed up. So probably a new kitchen will be in the neighborhood of $15,000. So if the house is worth $200,000, then I should be able to sell it to you for $185,000 and you can pay me all that in cash, right?” Well, there were several things that are not accurate with that assumption and some of you may be already feeling it that this is not exactly the whole story here. So the bottom line is this, if a house needs repairs, you cannot just try to figure out how much the repairs will be, subtract that from the price of the best house you’ve seen in the neighborhood selling today and say, “Okay, this is the final price that I should be able to sell the house for,” especially when it’s a cash offer.

There’s a lot of conveniences in a cash offer. If you’re trying to sell me a house fast for cash, that fast service, that transparency, the ability to do no repairs, no cleaning, to sell it as is, and for a buyer to take on that risk, to have to deal with the house to clean it up, to take on the risk of getting a house which is purchased usually without an inspection, so there was a lot of risk here. There’s holding costs if a cash is paid, there is hard money, lending cash and interest, that has to be paid. So in the whole transaction, a purchaser company like ours, Coastal Edge Homebuyers, we’re taking on a pretty big risk when we make a cash offer. So what happens here is that you can’t just subtract $15,000 from the $200,000, come up with $185,000 and believe that that should be the cash offer.

The cash offer which is something that would be the fastest you can get would also be the lowest offer that you will get. And it’s lower, because it’s a lump sum of money and it reflects a full cash offer with no repairs you need to do. It has certain easiness in that it’s the fastest, easiest way to sell a house. You pick your own closing date, which can happen in as fast as a week. Out of all the other ways to sell a house, this is the fastest and quickest, and yes, there’s a price to it and that price is in the fact that the cash offer is usually the lowest that you will get. But in some cases, that is the one and only offer that you want to do, especially if you’re in a rush, if you need to sell fast, if you have foreclosure impending, if you have to move out of the state very fast, if you get a job somewhere else, or if you inherited a house, basically means you inherited a tax bill and you need to sell fast.

If you live somewhere else, maybe in another state, what would you do with an inherited house? What if you have your life set up and you’re busy there, let’s say in California or Colorado, and you have a house that you inherited here in Virginia Beach? If it needs a lot of repairs, there’s a lot of risk in getting the time and the money to put into a house in a different state to fix it up, prepare it for showings, and all that to go through a real estate agent. It could be a pretty daunting task and a complicated process, so instead you will probably want to sell fast. And if you want to do that, yes, the cash offer is the fastest, easiest way to sell a house. Hands down, there is no better and faster way to do that.

Now, every other way involves extra time and money that you have to put into the house, to prepare it for the retail market. Most people believe that if you have a house for sale, you have to go to a real estate agent and get them to deal with it. Well, it’s not that fast, it’s not that secured either, because you have to rely on the real estate agent on their honesty and integrity to find the good one and then sign a contract with them. Yes, you have to sign a contract, you have to pay them a commission, which is usually about 6%, which is usually the split between the selling and the buying agent. The agent representing you is the seller’s agent and the other side, the other party that will buy your house, they will be represented by another agent called the buyer’s agent. So they get the other half of the commission that you are paying.

So, basically you have to do repairs to the house and this is another point that I like to make with people. I hear a lot of people telling me, “Hey, Alex, we actually have this house, we renovated it five years ago, everything is nice and perfect.” Well, if your house was renovated five years ago, you are not a professional rehabber. Maybe you’ve done something that pleases you and the way your aesthetics feelings are. Well, this may not be as neutral and great for the market trends today or five years later. Five years is not a long time, but if you’re looking at a house that sold for the highest amount of money you could possibly sell it today in your neighborhood, that house was probably rehabbed in the last one to three months.

That was not a house that was rehabbed two years or five years ago, or ten years ago. It doesn’t matter how nicely you did it. You did it for yourself, for your family, different reasons, different time. And frankly, things change so fast that, again, if the house wasn’t rehabbed in the last month, it doesn’t really count if it was done five years ago. Your house may look great to you, but guess what? You’re not going to be able to sell it for the maximum amount of money today. That’s just the facts, that’s just the reality and if you’re on this channel, if you like these videos, you know that we speak the truth on real estate, and this is how this business works. And I’m here to help you make the best decision whether you want to rehab a house, or sell it fast, or find out what other ways are available for selling.

But in any case, I hope this information is helpful to you when you’re thinking about selling a house and especially if you’re in a situation where you need to sell quickly. When you need to sell for cash, that will be a lower offer, but it will not be a lowball offer. Companies like ours, we do not do lowball offers. What we do is fair cash offer based on the current condition of the house and the fair market value of that house today in your neighborhood. That’s what you’re going to get from a company like ours. So again, I hope this video was helpful to you. This is Alex from Coastal Edge Homebuyers. If you have any questions or if you have a house that you need to sell fast, give us a call, 757-414-7117. Thank you.
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