Hi, everyone. This is Alex from Coastal Edge Home Buyers. In this video today, I wanted to go over some options for those of you who may have a house in Newport News and you’ve been wondering, what can I do with it? Who should I call if I need to sell that house? We’re Coastal Edge Home Buyers, and we buy houses locally. We’re a house cash buyer, which means we purchase homes with cash. Usually it’s a quick closing, fast procedure, different than if you would sell through a real estate agent.
So I’m going to give you a couple of examples of two different situations. In one of them, we actually ended up purchasing the house, and the other case was one in which we actually didn’t. So I just wanted you to see, and if you have a house that you need to sell, depending on your situation, we may or may not be your best option, but this is how we work.
So in one case, the house was actually a townhouse, owned by a family that had recently moved to the western part of the state in the Shenandoah Valley, a husband and wife and a couple of kids. One of them got a great job there, so they moved there. So after several months, they started thinking what to do with the house they had here. That townhouse was not actually the one they were living in. They had another house in Newport News, and the townhouse that they owned was rented out for quite some time.
Over the years, they did not do a lot of updates to the house, so it became outdated. So if they wanted to sell that house and get top dollar for it today, they had to do a thorough cleaning of the house and then a complete rehab. This is the way to go, if you want to get top dollar, the numbers that you see on the popular websites out there that give evaluations on your house. Well, that is if for you want to get the top dollars that you’re seeing online for your house. None of those companies that put these estimates out there have sent representatives to your house to see it and actually evaluate its current condition.
So long story short, we ended up purchasing that house from them for the following reasons. They did not want to deal with the house anymore. They did not want to rent it out. It was dated. It was full of belongings. And most of it was just hoarded items from the past, from tenants and some of their own personal belongings and furniture, but they did not want to deal with it. They wanted to get out of it, fast and easy. That’s why they called us. We took a look at the house. We made them a fair offer. We gave them the best offer based on the current condition of the house. And they were happy with it. So everybody wins.
Now, in the second case I wanted to go over with you, this was a slightly different situation. It was actually an inherited house. The family, which had three heirs (to the house), three siblings and they all lived in Durham, North Carolina. The house was in Newport News, Virginia. So they inherited this house. It was in a great deal of disrepair – it needed a lot of work.
So what happened is, we presented them with several options. We said, “We can buy the house as-is. This is your price.” The house was paid off. “You can also buy it on terms, which means we give you monthly payments. We still buy the house from you, but it’s something that we call owner financing. So we could give you payments. You’re going to get a higher amount, but over time.”
Last but not least, you can actually sell the house through a real estate agent. But if you want to go that route, the best way is, especially if you want to get top dollar from the sale, you have to do a full rehab. Well, the three siblings decided that they wanted to put their money and time together, get contractors, also do some of the work themselves, do a complete rehab, and that’s exactly what they did. And they sold it for a really great amount in the end. They sold it through a real estate agent. They paid agent commissions, and they were happy at the end. It took them about four-and-a-half months to get through that.
Now this situation worked for them, and it worked out great, but it doesn’t work for everybody. In some cases, if you’ve inherited a house, you may or may not want to go that route, because the siblings may not actually agree with each other or have the time or resources to go and do a full rehab. If you all live in different states, that may become a bit of an issue. In some of those cases, we’ve helped customers where we actually would buy the house “as is”. And sometimes that is the best option. But like in the second case that I just mentioned, for the three siblings that had a house in Newport News, they were able to put their resources, time and efforts together, get the house fully rehabbed and put it up on the retail market.
So again, we help people in many different situations. We are not always the best choice, but if you have a house that you need to sell fast, and imagine the house is in Newport News, Virginia, and you maybe you’ve been wondering, “How do I sell my house fast?” Maybe you have a situation, could be a medical situation, could be some types of liens, inherited house, needs significant repairs that you don’t have the resources (time or money) to invest in, then just call us.
In some cases selling a house fast, quick and easy is the best option. So, just give us a call if you have a house that you need to sell. We’ll be happy to go over your options with you and see if we can make a deal or not. We’ll be happy if we can help you in any case. Just give us a call. We are Coastal Edge Home Buyers and you can reach us at (757)414-7117.