EXAMPLE SCENARIO
Let’s look at a typical cash buyer scenario. Note that this is not a scenario that actually happened but it does illustrate the typical cash buyer approach.
Cash Buyer’s Approach:
Let’s say you have a home that could be worth $330,000 after rehab/remodel and let’s say it needs some significant updating and repairs in order to resell it at the current market value after the rehab/remodel. The Cash Buyers will come in, focus on and exaggerate all of the things that will need to be done to the home in order for them to be able to sell it for the current market value after rehab/remodel. They do this solely to justify their offering a low cash price for your home (usually 60 to 70 cents on the dollar). They will tell you:
It is best to sell it for cash due to its current condition.
They will buy it in “as is” condition.
They can close fast.
You will not have to do any repairs.
You will not have to pay any real estate commissions.
You will not have to bother with inspections.
You will not have to go thru the hassle of allowing showings.
The home will not be subject to an appraisal.
They then will proceed to offer $200,000 cash and pressure you to sign the contract right then and there.
Linda’s Approach:
Linda will walk thru the home with you, making note of issues with the home and explaining to you what they may or may not mean when it comes to the current market value of the home. She will then review with you and tell you what, in her professional opinion, is for the fair market value of the home in its current “as is” condition. Let’s say she determines the current market value in “as is” condition to be $240,000 and you will not have to do anything to the home. Yes, you will have to pay commissions and closing costs but no inspection repairs and Linda can control the number of days (usually 1 to 3 days of showings) and the times of the showings that would be conducive to your schedule and eliminate the hassles this process can cause. Linda has multiple cash buyers willing to pay the current market value of the home in its current condition, who can close in 10 to 14 days. She also has multiple prequalified buyers who are ready and willing to pay the current market value of the home in its current condition, who can close in 25 to 30 days. In addition, in the unlikely event that your home does not sell within the targeted deadline agreed upon between you and Linda, she would be willing to buy the home for a cash price that, in more times than not, is equal to or higher than the other cash buyers offers. Let’s say in this scenario Linda gets it sold in its “as is” condition for $240,000 to a buyer who is prequalified and closes within 30 days. With this scenario, you would net around $224,600 after closing costs and commissions; that is potentially $24,600 more than the cash buyers offer that would go into your pocket, not the cash buyers’ pockets. The question is, “Instead of the cash buyer walking away with the extra cash that is rightfully yours, is the possibility of an extra $24,600 in your pocket worth the potential of an extra 10 to 20 days to close on your home?
If the answer is yes, then click here to take the next step!
Contact us today to schedule your free, no obligation consultation to learn the truth about cash buyers and their offers and how you can put more of your hard-earned equity/money in your pocket instead of theirs. It’s time to take the next step!