How it works
How We Formulate Our Offers
We spend a fair amount of time and effort analyzing properties for people looking to sell quickly for cash. This involves us spending time and money researching and driving to properties all throughout the Wasatch Front. We do this to understand the market and to provide to you a fair offer. We stay in business by getting our offers accepted, and the only way to do that is to give offers that are win-win for both parties. We strive to do our best to give you the highest possible offer we can give.
Our offers are based on the projected “After Repair Market Value” of your home. What this means is we look at what the value of your home would be after a complete renovation. This is what we base our buying criteria on when formulating an offer to you.
The Offer:
We value honesty and transparency. Therefore, we have no issues sharing with you exactly how we formulate our cash offers.
[Offer] = [After Repair Value] – [Repairs] – [Our Selling Costs] – [Our Minimum Profit]
In order for you to understand this fully, let’s define some terms.
After Repair Value (ARV): This is what the market value of your house will be AFTER we buy and renovate the house.
Repairs: This is what our cost will be fixing/updating the house AFTER we purchase it from you.
Our Selling Costs: Although we buy houses without involving agents, we do use agents to sell our properties once they are renovated. In addition to agent fees, we have to factor in closing costs, taxes, holding costs, etc. These are the fees you do NOT have to pay if selling your house directly to us. Usually these fees average us around 10% of the reselling price of our after repair value (ARV).
Our Minimum Profit: Being a business, we wouldn’t be able to purchase more properties, pay contractors to fix our properties and pay agent listing fees to sell our properties if we didn’t make some sort of profit. We attempt to keep this as reasonable as our business model allows, in order to present you with the highest possible offer. Our business model is structured around providing our clients and ourselves “win-win” results.
With this formula in mind, we follow the simple, 4 step process listed below:
Step one- Submit property info
Complete the web form with your contact information and details about the property you are interested in selling.
Step two-We can Call, Text or Email with you to discuss the property and options.
We will review the property details, then contact you to discuss your plans and timeline. By now we have a good estimate on our offer.
Step three-Get Your Offer
Now we know the details and the terms you’d like. We’re ready to schedule an appointment to view the property and supply you with a written cash offer.
Step four-Sell Your House
Signed contracts go to escrow and we close on your schedule. Yes, its really that simple!