Pricing
How We Work Out an Offer
Most cash buyers keep this part vague. We would rather just show you the math.
70% to 80% of the after-repair value, less the work
How We Calculate a Cash Offer on Your House
We look at the house and work out what it will be worth once the work is done: the after-repair value. Our offer lands somewhere between 70% and 80% of that number, and that range has to cover both what we pay you and what we spend on the renovation.
A worked example
Say a house will be worth $400,000 fixed up and needs $60,000 of work.
| After-repair value | $400,000 |
|---|---|
| 75% of the after-repair value | $300,000 |
| Less the renovation | - $60,000 |
| Your offer, around | $240,000 |
The rougher the house, the more of that range the work eats, and the lower the offer goes. That is the whole method.
What you never pay
| Agent commissions | None |
|---|---|
| Fees | None |
| Closing costs | We pay them |
| Repairs or cleaning | None. We buy it as-is |
The number we give you is the number you walk away with, less any debts already attached to the house. Offer within 24 hours of walking the property, closing in 10 to 14 days, or later if you need more time.
The price we offer is the price at closing
- We walk the house before we make the offer, so the number on the purchase agreement is the number you get at closing.
- Our earnest money backs that up. If we ever fail to close on the terms in our contract, you keep the deposit. That has never happened.
- There is no obligation to accept, and proof of funds is available on request.
Questions about price
What comes out of my side at closing?
The only things that come out of your side are debts already attached to the house: an existing mortgage, liens, judgments or unpaid taxes. Those are deducted from your proceeds the same as they would be in any sale.
Can the price change after the walkthrough?
No. We walk the house before we make the offer, so the price we offer is the price at closing. Our earnest money backs that up. If we ever fail to close on the terms in our contract, you keep the deposit. That has never happened.
Is a cash offer always the best choice?
No. If your house is in good shape and could be listed as it sits, an agent will almost certainly get you more money than we will, and we will tell you that on the walkthrough.
Get a Free Cash Offer on Your Hampton Roads House
Tell us about the house. Joey or Chris walks it, and you get a written cash offer within 24 hours.