Hi, everyone. This is Alex from Coastal Edge Homebuyers. Today, I wanted to go over some options for you if you have a house that you want to sell but it needs repairs. If you have a house and you’ve been wondering, “I want to sell this house. How do I sell my house fast?” In Suffolk, Virginia or anywhere else in the Hampton Roads area, we can help you with that. You can call us at any time. We’re Coastal Edge Homebuyers and we’ll be happy to go over all of the options and present you with the best one that may suit your scenario.
If the house needs significant repairs, what can you do? Well, if you’re pressed with time and you need to sell fast, as soon as possible, if you have some type of a situation going on, such as maybe liens or a pre-foreclosure or a divorce or some other situation that’s pressing you to make a quick decision, yes, we can buy the house very quickly, with cash. Not the highest offer you will get, but it’s going to be a fair offer and you’re going to have cash in your pocket within 7 to 10 business days. So a cash offer is the fastest.
There’s no cleaning. There is no costs for you to pay, no repairs for you to do. We’d buy the house exactly “as is”, in its current condition. It’s really the easiest and fastest way to sell a house.
Now, if you’re willing to wait, we can get the house rehabbed and sold. If you’re willing to wait to get paid, we can actually offer you more for your house. Now, this will work best only if the house is completely paid off. If you have no mortgage on it. Maybe you inherited the house or maybe you’ve had it for a while, for many years, and it’s already paid off, we have another option where we basically give you monthly payments and over a period of time the house is paid off. This is based on details of the arrangements that we’ll be happy to go over with you based on your situation, the house’s current condition, location, and several other factors. But the bottom line is this – if you’re willing to wait, we can buy the house “as is” today, but we can actually offer you more money than a straight up cash offer, if you’re willing to wait to get paid. That could be several years, could be 5 years, 7 years, 10 years, whatever terms we agree on. The benefit of that? If you’re willing to wait, you’re going to get more money.
Now, if you can’t wait and you want to get the fastest cash possible, that would be the cash offer, which you’ll get right away, but it’s going to be lower than the other ways of selling. I just wanted to make sure this is clear for you. Again, I’m not expecting that you’re going to understand all of the details on the deal and there’s a lot of information that has to be exchanged and everything is done at our attorney’s office, so it’s really no risk to you. But the bottom line is, if you’re trying to sell a house that needs repairs, you’ve got options.
Another option is to fix it yourself. That’s always an option for you, which means you can either do all the work yourself of the rehabbing, if you’re good with that, if you have experience, or you can pay contractors to do it. If you have the funds and you have the connections and the contractors to get this done, absolutely, go ahead and do that. In the end, if you rehab the house, usually it may take one to three months or so, you’re going to get the highest value when you sell it. You’re going to have the highest retail price for it. But again, if you don’t have the time or the money, or both, there are the other options that we can explore.
In fact, there’s even other options that we could try even if you owe money on the house. Depending on what that amount is and what the current equity of the house is, there is other ways, too. But again, I don’t want to go over too much into details on those options because, in this video today, I just wanted to cover a couple of the basic options of time versus money, or how quickly do you want to get the deal done, and especially in the situations where your house is paid off.
If you have more questions, we’re always here to help. We are locally based in Hampton Roads. Please give us a call. 757-414-7117. Again, this is Alex from Coastal Edge Homebuyers.