Criteria you want in a local investor offering to buy your home for Cash:
Someone that already has the cash on hand.
Someone that can come out immediately themselves and give you an offer on the spot.
Someone that will by the home AS-IS.
Someone that can close quickly (in a few days), or whenever you are ready.
Someone who has lower costs of remodeling because they are local.
Someone that understands the Virginia market and uses a local title company.
Someone who is upfront with you and discloses everything (especially if they are not going to buy the home themselves, buy try to wholesale it!).
“OK, But How Much Will an Investor Pay for My House?” How will they determine the Value for my house?
Typically, an investor needs to net a percentage of the profit on the investment and remodel of a home. This is after they pay for the remodeling, pay for any holding costs (financing, taxes, maintenance), and pay any commissions or costs of selling the property. Obviously, it is unrealistic to expect an investor to invest $100 – $250 thousand into a home, remodel it, and then sell it to lose money!
The good news for you (the seller), is the investor is going to remodel and improve the home, which will raise the value. Meaning, they will base their offer on the After Repair Value. After Repair Value is the value they hope to achieve by remodeling the home to the top of what buyers are willing to pay. Also, the current market conditions will effect how aggressive investors will be. In a hot market, they can take more risks. in a “soft” or slow market, investors must be more conservative.
Ready for your cash offer for your Hampton Roads home?
Visit Capable Home Buyers at www.capablehomebuyers.com
Or Text or Call Today at 757 508 0972.