When you want to sell your home for cash, you have options. Every year, there are over five million home sales throughout the country. This means there’s a lot of competition in the market. If you list your home with an agent, this often means long waiting periods as you try to find a buyer.
If you want to avoid long waiting periods and the potential for deals to fall through from inspections and low appraisals, get a quote on a cash offer from Square one Solutions! As professional homebuyers in Houston, we help local homeowners sell their property quickly.
In many cases, the costs of selling a home add up to at least 10% of the final sale price. That means these fees range anywhere from $10,000 or more on a $100,000 home or $50,000 or more on a $500,000 home.
Before you list your house, you have to prepare it for the market. Or in other words, spruce it up so that it can put its best foot forward in order to capture the attention of potential buyers. For some homeowners, this means a few simple repairs or a quick paint job. Unfortunately, most homeowners wind up pouring funds into four main areas to have their home market-ready.
For many homeowners, repairs are on their minds as they prep their property.
Everything from cleaning gutters, to fixing a leaky faucet to full roof repair or replacement. When you tackle the items on your list of repairs, the costs climb quickly.
Unfortunately, these repairs often prove essential in the traditional home selling method. Furthermore, a buyer may ask you to complete and pay for additional repairs after an inspection report comes back.
After your home is in tip-top shape, the costs continue to climb. Once an offer rolls in, the back and forth process of negotiations begins. That’s when the next round of costs pops up.
Commissions
When you work with a real estate agent, commission fees tend to make up the bulk of your selling costs. Typically, this amounts to about 6% of the closing price. At Square, there’s no commission fee to worry about.
Concessions
When you sell your house the traditional way, sellers often make concessions to cover costs for buyers. Oftentimes, this amounts to about 1.5-2% of the sale price. With our home buyers, we make a fair offer and stick to it.
Appraisal
While an appraisal does not generally cost the seller anything, it is important to keep in mind that if the home does not appraise the bank will likely not cover the full loan amount requested. IF this happened the seller may ask for a reduction or pull out of the deal. Worst part? You likely lose your earnest money in this scenario as well.
Closing Costs
In addition to the commission, sellers typically have to pay fees related to the transfer of the house. Generally, this amounts to about 1% of the purchase price. Luckily, our team covers these costs for our clients as well.
Real estate agents list properties and show them to prospective buyers (if there are any). If they’re able to make a sale, they take a percentage of the sale price as their commission. In many cases, a real estate agent’s commission is 3 to 6%. This means, if your house sells for $100,000, you have to pay between $3,000 to $6,000 in commissions. If you don’t have the time, patience, or ability or sell through a traditional agent, that’s where Square One Offer can help. We’re not agents – we’re home buyers. Since we’re buying the house directly from you for cash, we can buy your house fast. We make our living by taking the risk to buy the house with our own cash, fix it up, and market it ourselves to find a buyer.
The closing date is flexible most of the time. If we sign a contract and you need several months to prepare for your move we are willing to work with you. There is NO PRESSURE from us to close by any particular date and we will accommodate your needs to the best of our ability. Also, we may be able to lease the property back to you after closing for a short time.
Once we can set a date for closing you will know the exact date to schedule your move. Closing is when the final papers are signed, you receive your money, and when ownership transfers out of your hands. By this time, the house should be empty and vacant unless we make other arrangements based on your specific needs. We begin the process of repairs and maintenance on the property immediately after closing and anything left behind will be donated to charity or disposed of.
At Square One Offer, we are professional home buyers. we buy houses that meet our purchasing criteria. Once we have purchased a house, we spend the time and money to repair the house and resell it to another homeowner. Although we have licnesed agents that can help list your home our primary strategy is to give you a cash offer. Sometimes the home or situation the homeowner is in doesn’t constitute a quick closing where the homeowner can wait more time to get more money by listing the house on the open market.
We are 100% transparent with our process! The houses we purchase are below market value so we can resell them at a profit after we make the necessary repairs and updates. In our experience, our clients aren’t looking for a large “windfall” on their property. They want to be able to sell their house fast, for a fair cash price, and with as little hassle and stress as possible. They are not looking to spend the time or money to fix up the property or pay agent fees and closing costs. If this sounds like you, give us a call today, and let’s see if we can come to a fair price that’s a win-win for both parties. Our no-obligation offer means that we won’t hassle you once we make you an offer. Whether you decide to move forward or wait, the process is up to you
No, not unless there is a major repair that is uncovered during the inspection that was otherwise unknown. Our buyers have years of industry experience and know what issues to look for.
Please beware of other companies who offer to purchase your home without physically seeing it. These companies are likely to change their offer and/or pull out of the contract all together leaving you in a poor position. Similarly, read the language in the contract. Check for contingencies, verbiage that allows them to reduce the offer and or an option period.
This is why we visit every home in person when we make free cash offers on homes to give the highest and most fair offer.
While walking the property with you, our agents will ask about the condition of certain items while visually inspecting them. The more honest you can be with them the better. This will ensure that there are no ‘gotchas’ in the inspection period and that your offer stays the same.
Square One Offer home buying process is simple we look at four things when valuing your home.
Property condition
Repairs needed
Property location
Value of comparable renovated properties in the area
Great question, you’ll sign a purchase agreement, we open title at a reputable title company, received pay off’s, clear any title defects, and close once title is clear.
