Greg should be your GO-TO for selling. He truly cares about his clients and is always professional, knowledgable and in it for the right reasons – to help people!⭐️⭐️⭐️⭐️⭐️
How Do I Sell My House In Florida Fast For Cash?
We Offer Cash For Your FL House Fast. Here’s How…
By eliminating the middle person, (agents, banks, inspectors, etc.) and by simply paying cash we can significantly uncomplicate things. We can truly make buying your house easy as .
Get Your Fair Offer TODAY!I buy houses in Pensacola, FL, in ANY CONDITION! I pay nothing but cash and ensure that you don’t pay any commissions, agent fees, or closing costs. Get your free cash estimate today!
Told You… Easy As
This explains the steps involved, but what exactly goes on behind the scenes?
To sell your home fast for cash in Florida, we encourage you to educate yourself before you decide what your best options are.
What follows next is a well thought out, fully detailed explanation on how the entire house buying process works from beginning to end. Please read through this as reading this article will make you the expert on the topic.
If you’re thinking about getting rid of a property and you’re wondering, “how do I sell my house fast in Pensacola for cash,” you have definitely come to the right place. Unlike many homebuyers that offer insultingly low prices for Florida homes, we do our best to set ourselves apart from the competition and ensure that we’re making the fairest offers possible.
It’s In Our Best Interest To Give You Our Highest Possible Offer.
Many cash home buying companies will make exceedingly low offers, claiming that this is the best they can do given a property’s condition. We do not adopt this same approach. Instead, we put forth the effort to thoroughly analyze your home so that we can present you with a fair cash offer for your Florida home. We will visit your property in person (completely FREE to you) so that we can come up with a realistic offer to avoid wasting your time with a nonsensical offer.
At Greg Buys Houses, we rely on having our offers accepted, and the only way to get people to say “yes” to an offer is to make ones that people are satisfied with. We will do everything we can to make you the highest possible offer on your Florida home. Our reviews speak for themselves. 🙂
We come up with fair cash offers by determining your home’s market value after a list of repairs has been completed. This means that we consider the price your home would be worth after we fix it up. From that value, we can formulate far more reasonable cash offers that work well for all parties involved.
How does this work?
Well, imagine you want to sell your home in its current condition.
Now, imagine that your neighbor has the exact same house but in excellent condition. His house is ideal for the local market and has all of the new bells and whistles an aspiring homeowner could want when looking to purchase a new property.
Now Imagine he sold his house for $300K.
What Do We Know Now?
If we know the approximate value of the home after we perform the necessary repairs, and we know how much it will cost to perform the repairs and upgrades needed, we can use this information to come up with a fair cash offer. If you like the offer we present, we will initiate the selling process and you will receive your payout at closing.
We consider all of our offers fairly, rather than playing on the desperation that homeowners may have when it comes to selling a troublesome property.
How It Works:
We are not here to mislead or take advantage of homeowners, so we make our process as transparent as possible. The math that we consider when coming up with offers is exceedingly simple.
Take a look.
[Value After Repairs] – [Cost of Repairs] – [Our Selling Cost] – [Our Profit] = [The Offer You Receive]
Let’s cover the terms mentioned above.
After Repair Value (ARV): The retail value of your home after we buy it and perform the necessary upgrades and repairs.
Cost of Repairs (COR): The cost we will front to repair and upgrade your Florida house after we purchase it.
Our Selling Cost: The price we sell the home for after the repairs and upgrades have been performed. Though we do not use an agent to purchase the home from you, we utilize their services throughout the repair and upgrade process, as well as the resale.
Because of this, we need to be able to pay closing costs, agent commissions, etc.
Our Profit: We keep our profit to the absolute minimum necessary in order to keep our business running smoothly. We strive to make as many deals as we can so that we can work with fewer profits a piece, rather than making only a couple of deals with extremely high profits.
So what does this formula mean in plain English? Simply this:
The market value of the house (after we fix it up), minus ALL our costs fixing it up (including our profits), will be the offer. How simple is THAT! Congrats, now you are an expert at this! But want to be sure you understand it?
Let’s take an actual house we recently bought and share with you how it happened.
Let’s take into consideration the current condition of your home. It’s not bad at all, but the property is outdated. It could use a few upgrades and repairs to make it the ideal property for an aspiring buyer in the area.
Compare it with your neighbor, who has the exact same home as you, but his home has a brand-new roof, new kitchen, bathroom remodels, and hardwood floors installed.
Imagine if the cost of repairs was $30,000 rather than $70,000.
Your house (I mean, our house after we buy it) could also sell for that top dollar … if it was in the same condition as your neighbor. So we need to do the work, and invest the money to get it into that condition to sell for $300K.
Because in its current state, no buyer in today’s market will give you $300K for that “before” house when they could easily find one of your neighbor’s in its “after” state. And most buyers don’t want to spend time, money or energy to hassle with contractors or do the improvements themselves … they want a move-in ready house just like on HGTV.
Ok, Greg… so how much is my house worth today? As-is?
Let’s say that you contact the best agent in town and she says that your home as is, in its current condition is worth approximately $190K.
Why so far off of that $300K? In the words of someone famous: “It’s the economy…”.
Houses are not commodities. No two are exactly the same and they are not sold in the way other items such as refrigerators or televisions – the price is not set by a manufacturer and controlled by the retailer. Buyers and sellers have to negotiate prices and a home’s “value” is only as much as someone is willing to pay. We can get a best guess at “market value” by comparing your house to other houses of similar age, size, style, and location that have sold recently. And if yours is one of the few needing all of those updates and repairs, or even just good cleaning and a fresh coat of paint then yours is going to be less desirable and thus less valuable as-is.
So, your agent tells you that based on the market your as-is value should be around $190K. For this example I will assume that you chose one of the many talented and hard working agents out there which means that their process of coming up with an as-is value is very similar (and just as accurate) as ours. Typically your agent will estimate the same $300K retail value that we did, factor in those same repair costs — except that we get a pretty sweet discount on repairs, since we feed our contractors so much work! So your agent and I will very likely agree that the as-is “value” of your house is approximately $190K.
What if you fill out a form and ask me to buy your house instead?
We come in with our contractor and our agent to evaluate the house. We bring the agent to help advise us on what buyers are looking for and therefore where we will need to be to sell the house for top dollar. And we bring our contractor to estimate how much it will cost to get it there.
So the agent and contractor help us to develop our Scope Of Work (or SOW) and from that we estimate our Cost Of Repairs (or COR).
How We Buy Houses In FL
Now We Are Ready To Make You An offer!
Here are the numbers:
ARV (After Repair Value) = $300K
COR (Cost Of Repairs) = $70K
Our Selling Cost = 10% x $300K = $30K
Minimum Profit For This Purchase = $35K
[Your Offer] = [ARV] – [COR] – [Our Selling Costs] – [Our Minimum Profit]
Your Offer = $300K – $70K – $30K – $35K = $165K
Your Offer = $165K
That’s it. That is a real life example of how we make offers. One note about minimum profit – I work off of the building industry standard of cost + 15% which is how I got that $35K.
You can see that we make our offers just based on the facts and the numbers. It has nothing to do with your circumstances or some arbitrary percentage of the retail value (that is ridiculous). We just add the numbers up based up the condition of the property and see where they end up.
So compare my offer of $165K, and we will close when you are ready with that agent route.
If you list your home with an agent as-is for $190K then you are already on the hook for the industry standard of 6% agent fees, leaving you a net $174K assuming you don’t also help with the buyer’s closing costs or any of their prepaids as a seller’s concession.
And that is IF a qualified buyer is ready willing and able to purchase which could be for months. Remember, there are plenty of renovated and HGTV ready homes already on the market right now, and certain repairs can disqualify many of the government backed lending programs such as FHA, USDA and VA which further shrinks your buyers’ pool.
So now YOU have to make a decision.
Sell it for a guaranteed sale for $165K in as little as 10-20 days, or a “maybe sale” for $174K hopefully within 4 to 5 months. And generally speaking, agents like to drop prices 3-5% every 3-4 weeks if they don’t see any movement.
~ What to do ?
Now things get interesting! Now the offer becomes:
The As-Is Value is $190,000.
ARV (After Repair Value) = $300,000
COR (Cost Of Repairs) = $30,000
Our Selling Cost = 10% x $300,000 = $30,000
Our Minimum Profit After Purchasing and Reselling = $40,000
[Your Offer] = [After Repair Value] – [Cost Of Repairs] – [Our Selling Costs] – [Our Minimum Profit]
Your Offer = $300,000 – $30,000 -$30,000 – $40,000 = $200,000
That’s right. We’re willing to offer $10,000 more than what the property is currently worth and nearly $30,000 more than what you would get after trying to sell through an agent (you’d likely only walk away with $174,000 after paying all of the standard selling fees).
Remember, we formulate our offers based on numbers and our ability to improve the condition of the properties we buy. We do not utilize predatory buying practices like many other cash home buying companies that seek out desperate homeowners to make lowball offers to.
We want to make offers that our clients will be happy with, so that when the sale is complete, they feel that they’re satisfied with the way we handled their home sale. The experiences of our clients mean the world to us, so it’s in everyone’s best interest to come up with offers that make everyone walk away from the deal happy.