final_logo

SELL YOUR HOUSE NOW!

Big Texas Homebuyers

How do you determine your offer price?

How do you determine your offer price?
We look at recent similar sales in your neighborhood.

Much like an appraiser, we take into account the year built, sq. footage, number of bedrooms and bathrooms, garage, pool, etc. Then, we determine repair costs.

Our basic formula is between 70-80% of the after-repaired value minus the cost of repairs. The percentage of the after repaired value is determined by estimating the average days on market once repaired, the time required to make repairs, and what the interest would be on our construction loan.

Well, I don’t want to just give my house away!
Obviously, you want to get as much for your house as possible.

We encourage you to shop around and talk to an agent.

If you decide to make repairs and list with an agent, there are several items you should take into account:

  1. The cost of making repairs tends to be much higher as a homeowner.
  2. There are always unforeseen costs when remodeling.If your asking price is $100,000, you’re getting much less if you list with an agent. Buyers request an average of $5,000 in seller contributions at closing. In addition, you have basic seller paid costs at closing such as Warranty, survey, and title policy. Don’t forget your buyer is going to have an inspection done. Chances are that you’re going to have at least a few items that need to be fixed. Let’s just allocate a couple of thousand for that. Then, on top of it all, you need to subtract 7% from the selling price to account for agent and title fees along with taxes owed for that year.
    • For example, you need to have foundation work done. That will typically cost between 5-10K.
    • Then, you need to have new flooring installed because the foundation company ripped out your existing flooring. That can cost anywhere from 1-15K depending on the sq. footage. But, wait! There’s more.
    • Quite often, plumbing leaks occur during the foundation repair process. This costs on average between 2-7K.
    • Next, those pesky stress cracks need to be repaired, retextured, and painted. We typically allocate $3 per sq. ft. for texture and paint.
    • Lastly, if you have a brick home, be prepared to have a mason come out. If you’re lucky, it might cost $500 but usually you’re going to spend at least a couple thousand.
  3. If your asking price is $100,000, you’re getting much less if you list with an agent. Buyers request an average of $5,000 in seller contributions at closing. In addition, you have basic seller paid costs at closing such as Warranty, survey, and title policy. Don’t forget your buyer is going to have an inspection done. Chances are that you’re going to have at least a few items that need to be fixed. Let’s just allocate a couple of thousand for that. Then, on top of it all, you need to subtract 7% from the selling price to account for agent and title fees along with taxes owed for that year.
  4. You run the risk of your buyer not being able to close when expected or maybe even at all. I mention this one because my last sale was delayed by nearly 2 months due to my buyers lender. We were misled into believing it was a done deal by all parties involved. As it turns out, my buyer was denied the loan on the day before closing. He then applied for a loan with a different company and was accepted. I’m grateful that we finally closed but it could have gone either way…. And I had to wait 3 months.

I owe more than my home is worth, can you help?

I owe more than my home is worth, can you help?
We have several options that might work. We might be able to negotiate a short sale with the bank or you may choose to owner finance. We will work with you directly to find a solution that fits your needs.

How quickly can you REALLY close?

How quickly can you REALLY close?
We have been known to close in as few as 7 business days. Obviously, there are factors that influence the time schedule. We need to schedule our appraiser, inspector, and contractors to take a look at the house. The sooner everyone can get scheduled, the sooner we can close.

How can I guarantee that you're not going to hold up my house with a contract only to back out in 30 days?

How can I guarantee that you’re not going to hold up my house with a contract only to back out in 30 days?
While there are no guarantees in life, I can assure you that there are only 2 reasons that would prevent us from closing. One would be if the Appraiser determines the house is worth less than we originally thought and the second would be if our contractor determines the repairs are worth significantly more than we thought. These items are addressed within the first 10 days of a signed contract. If they need to be addressed, we reserve the right to back out of the contract or renegotiate. We want the process to be as painless for you as possible.

We've agreed on a sales price. Now what?

We’ve agreed on a sales price. Now what?
Next we decide on a closing date. Then, we schedule the appraisal and inspections. If all goes well, we close on the agreed date!

No problem too big. No house too small.