How much does it cost when someone says We Buy Houses in Virginia ? Well that’s what we’re talking about today and we are starting right now. If you’re looking to buy, fix and flip a home or really need cash for home in Virginia, then this is the post for you.
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So how much does it cost when they say We Buy Houses in Chesapeake?
Assuming that you are going to hire areal estate agent these are the typical expenses that you’re going to incur when We Buy Houses in Virginia.
#1: you’re going to pay the commission to the real estate agents involved in the transaction.
You hire an agent and you agree to pay them X percentage of the sales price of the house.
Hello, Houston if you are looking for a housebuying company you are in the right place.
We can buy your property super fast.
So you don't have to wait for months, only days to sell your property.
All our closings are going thru a title company so we can ensure a smooth transactionThis is how our simple process work Number one Give us a call or complete theform in our website Number two We will call you to find out whatis your situation and what is the actual condition of the propertyNumber three we set up and appointment to take a look at the property and you will receivea cash offer Number four if you accept our offer, we sendit to the title company and days later you get paidHow simple is that Don't wait months for to sell your property,give us a call Today.
When the buyer comes along if they are represented by a different agent your agent pays that person.
Now I’ve done a whole other video about where the commission goes.
If you’re interested click that but just know that we do not keep the whole thing ourselves.
We are splitting it with the other agent, we are splitting it with our brokerage, we are paying all of the marketing expenses, so don’t go thinking that we’re all millionaires because that’s not really how it works.
#2: you will have to pay the property taxes for the time that you lived in the house.
After the property changes hands the buyer will pay that.
If you’ve already paid your property taxes for the whole year then from the date of your closing to the end of the fiscal year you’re going to actually get are bate because you’ve already paid those property taxes and the buyers should be paying them.
So you’ll get money back.
In the Georgia market it’s very common that buyers ask you to pay their closing costs or at least a portion of it.
We have a lot of first-time buyers and nobody puts 20% down any more.
I mean people don’t have $100,000 just sitting in the bank waiting to buy a house as a general rule, so they may ask you, “Hey can you chip in $3,000 towards my closing costs?” They will probably also ask you for either a home warranty, a termite bond, or both.
As you know living in Georgia there are two types of houses -those that have termites and those that don’t have termites yet.
So we typically like to have some sort of pest control plan on our homes so that that doesn’t happen.
When the buyer comes along they’ll say, “Hey, I want you to transfer that termite bond to me so that I can live in a house for the first year and not worry that the house has termites or is going to have termites very soon.
“Now let’s say the buyer moves in and the first Thanksgiving that they have all their family come to visit the stove breaks.
Yes, this actually happened to one of my clients.
The home warranty company comes and if they can’t repair the stove they buy them a new stove.
So it’s a great thing for the buyer to make sure that they’re not going to have any unforeseen major expenses the first year that they live in the house.
A home warranty is typically somewhere around$500.
Now if you decide to sell your house for sale by owner you will not be paying the real estate agents commission.
Instead you’re going to be paying for all of the marketing of your home.
Just a for sale by owner sign in your front yard is probably not going to get the job done.
The people that buy for sale by owners are looking for a great deal so they’re gonna come and offer you far less than the actual market value of your house as a typical rule.
You’re going to be paying for the photographer, for the video, for the drone photography, for all advertising, you’re gonna have to put a nice sign in the yard, you’re going to have to show the property every time somebody calls you to make an appointment.
So the money that you save in the commission you’re going to be incurring a lot of additional costs in marketing and in time, where it’s going to be all on you.
You don’t have an agent who’s doing all this stuff for you.
So now you know how much it costs to sell a house but do you know what your home is valued at? Do you know what your market value is?
Because half the time your neighbor might tell you, “Oh we sold it for300,000!” But they actually sold it for $289,000.
I’m just saying sometimes people have the tendency to exaggerate just a little bit.
So if you’d like to find out what your home is worth because you’re thinking of selling in the next six months or so, click this link.
We would be happy to do a free no-obligation home valuation analysis for you so that you can really sit down and say, “Okay, if I sold how much money could I expect to make?” Because that’s a big factor in deciding is now the right time to sell or should I wait a year or two? Thank you so much for watching and I will see you on the next one.
We Buy Houses as is in Virginia – Does Yours Qualify?
We Buy Houses a scam? Rob Sanders herewith Quick Green Now @ QuickGreenNow.
Com and the question is.
Are those peoplewho advertise that We Buy Houses a scam? Well short answer is no! "No" English "No" inSpanish "No" in Slovenia the answer is no We've all seen those advertisements,those big billboards on the side of the interstate all the way down to whatappears to be those handwritten signs almost on every intersection.
So who arethese people? They, we are real estate investors.
"Is it legal?" "Yes" "So if I signed a contract, can they steal my house?" "No, it doesn'tmean we can steer your house.
It just means we can start the escrow processwith the title company.
" "Will I get paid?" "Yes! You will get paid!" "How do I know?" "Real estate investors lovefreedom.
Not just financial freedom but regular, I'm not in jail, don't want to goto jail, I'm not going to jail freedom, nope!" I wantyou to not only get paid but to enjoy the experience so much so that you telleveryone you know and refer business to us so we can help others in yoursituation.
So are all those people that advertise " We Buy Houses " a scam ? Absolutely not.
Once again I'm Rob Sanderswith Quick Green Now at QuickGreenNow.
Com Thanks for watching and stay tunedfor more.
And remember Quick Green Now at QuickGreenNow.
Com "Get Cash for YourHouse Fast".
We buy houses In Virginia Beach - Simply Sold Review
We buy houses. You have probably seen their signs or heard their advertisements on the radio. Even in a difficult real estate market, they are spreading their message. But, who are these people and how can they constantly be able to buy houses? Where do they get the money? What do they do with the houses? Let's take a look.
First, they are investors and investors want to make money. Since they have been around for awhile now, even in tough economic times, it is likely that their business model is working for them. They are making money.
When they approach a homeowner who is considering selling his or her house, there will be certain things that are in their presentation. Here is what you can expect:
- We will pay cash;
- We will settle quickly;
- There will be no fees or commissions to be paid to a real estate agent;
- They will likely ask you how much you owe on the house in mortgages and other liens;
- We will have no contingencies for any type of inspections;
- We will buy your house in its as is condition;
- You will not need to do any repairs;
- They will probably walk around and through the house performing an apparent evaluation of its condition;
- Although, they will buy the house as is, they will still point out the things that they see wrong with your house;
- They will make you an offer and they will have the paperwork ready to go.
So far it sounds like a very good path to take. It is a hassle free way to sell your house.
Indeed, in some cases, it is an expedient and beneficial way for a homeowner to sell his or her home. But this is not always the case. Let's take a closer look.
-When you go to the settlement table, you will receive cash, even if the buyer is getting a loan to purchase the house. The only way that you will not receive cash is if you finance the house yourself, which is rarely the case. When the buyer is getting a loan, they should show you a pre-approval letter and ultimately they should show you a loan commitment letter from their lender. When this happens, it is almost as good as the buyer having cash. When someone is paying with cash, you should follow similar steps to that of a purchaser using a loan. First they should provide evidence that they have the money and second they should ultimately be willing prior to settlement to place it in an escrow account, which will designate, that the purpose of the money is for the purchase of the home. It is likely that they will be unwilling to do this.
-A quick settlement may be 15 days. If they actually provide a contract that is for a 15 day settlement, then you should make certain that you can settle that quickly. It is more likely that they will actually provide a settlement of closer to 60 days. A 2 month settlement date is not unreasonable, but their true reason for doing this is because they do not actually want to purchase your home. If they truly have cash, then they could easily settle within 2 to 3 weeks. However, during this 2 month time frame, they are trying to find another buyer. If they do find another buyer, they will sell the house to that Buyer at a price higher than that which they are paying you. In this scenario, they would be assigning your contract to another buyer and the price difference would be called an assignment fee. If all of their deals go like this, then they will never need to come up with any money. However, keep in mind that in some situations an assignment is not allowed, so they may go through with the purchase, but usually only if they have another buyer lined up to whom they can immediately sell the house. If they do not have another buyer ready to go, then they will look for a reason to get out of the contract.
-They will tell you that you will save about 7% by not having to pay a real estate agent a commission. Yes, there are some situations where an agent will charge 7% for selling your home and where it is appropriate, but typically commissions are not 7%. They may average closer to 5% and could be lower. However, they will not give you this savings; but rather, they will ask you to discount the price of the home by 7%, since you do not have to pay an agent. So in the end, your net profit on the house will be the same with or without an agent. If you are not using an agent, then you have no one who is looking out for your interests. You are giving up 7% for no service and for no representation.
-How much you owe on the property should be irrelevant to the buyer. He should offer a price that works for him. If that price is too low to cover what you owe, then you will not accept the offer. The reason for asking what you owe is because they will make an offer that is just enough to cover that amount. If the amount that they want to offer is lower than what you owe, then they will not make an offer, but otherwise, they will go down to that amount. What this does is take the equity which may be in the home, which is basically the difference between what you owe and what the house is actually worth, and gives it to the buyer.
-Be careful about contingencies. There will be a clause of some sort or another which allows them to get out of the contract.
-They will not ask you to do any repairs, however your house might not need many or any repairs in the first place.
-Generally speaking, these individuals are not inspectors, although they will have a good idea about houses because they look at so many. They may seem to know about home construction, but they are just talking.
-No matter what the condition of the house, they will tell you that something needs to be replaced or is not up to code. For example, you may have a 2 year old roof with 30 year shingles, and they will tell you that the shingles are curling up, so they may need to replace it. It will not be true, but if you are not familiar with how to evaluate a roof, then you may believe them. Or you may have older windows, which work fine, but they will suggest that they will need to be replaced. Of course, all of these things will have a cost that they will factor into the price that they offer.
-When trying to justify a price, they will use the lack of a real estate commission, repairs, which probably do not need to be done, and comparable sales prices, which they will provide. Keep in mind that they do not represent you, but rather themselves so the comparable sales will be those that work in their favor.
For them it would be an every day occurrence to offer $150,000 for a house worth $300,000.
There are other elements to these types of deals and other factors to consider, but this is intended to make you aware that it is not always a good way to go.
Do not let someone else's path from rags to riches be your path from riches to rags.
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109-G, Gainsborough Square #712
Chesapeake, VA 23320