PDX Renovations

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  • Use Your Equity to Get Into a Bigger House and Skip the Marketing & Sales Process

    marketing & sales process

    Here’s an example of how you can quickly convert your current home with some deficiencies into the down payment on your dream home without making repairs or updates – a bigger, better home for a growing family. – Marketing & Sales Process

    Houses needing work to prepare them for the market can delay your next purchase and siphon off the cash resources you want to use for a down payment on the next house. But it doesn’t have to be that way.

    In our example, Mark and Susan Miller are hypothetical homeowners with a growing family. Several years ago, they carefully selected a less-expensive older home to purchase with the goal of building equity and putting aside savings at the same time. Now, with a relatively modest mortgage balance and a nice amount of equity, they are pleased to see a marked increase in the value of similar houses sold over the past year as their local economy rebounds.

    The Millers would like to upgrade to a larger house and have read that now is a good time to market their current house. Home buyers are faster to close in rising markets before houses become even more expensive and interest rates go up. That’s also true of the Millers’ desire for their next house – they would like to get out of this one and into the next one while they can afford more.

    But after speaking with a real estate agent, they realize that a fair amount of cash is needed to bring their older house up to marketing standards as desirable enough to attract offers sooner rather than later. And it will take time to complete the work to correct deficiencies that haven’t bothered Mark and Susan but will be important issues for a home-shopper.

    It’s discouraging to realize that part of the savings they had planned to go to a down payment on the next house will be spent preparing to sell the old house.  Even then, completing the work gives time for interest rates to rise and prices to climb on their next house. And they will still face price concessions to get this older property sold and allow them to move on.

    Or … Mark and Susan can find a cash buyer who will take this house off their hands, as-is, quickly. Their nest egg/down payment on the next house remains intact, and their equity is converted into additional cash. No time and money spent fixing the old house, no long and uncertain marketing and sales process. The Millers are out shopping for their next home while the deal on their old one is completed within a couple of weeks or even less.  The Miller family is ready to move on and enjoy a new, bigger, better house!

  • How to Sell Your House (Very) Quickly | PDX Renovations Can Help!

    How to Sell Your House (Very) Quickly | PDX Renovations Can Help!

    probate and selling an inherited house

    Last week I reviewed estate houses and why it’s often best to sell the house quickly in “as-is” condition in “Should You Sell Your (Inherited) Estate House As-Is?”.   And, if you need more reasons why you are likely to realize in hindsight that it would have been better to sell for cash right away, please see my several earlier blog posts on “inherited houses.” Need to Sell Your House (Very) Quickly?

    This week I’m going to give you a list of ways to sell off your estate house, your current home, or any unwanted real estate, without any cash investment or repairs on your part, within a matter of a very few weeks – even days.

    Here is a quick look at how “cash-buying” or “selling for cash” works, regardless of how you do it.

    • The process is fast because the buyer is a knowledgeable professional who has seen it all and is accepting the property just as it is today.
    • The buyer pays cash, so there is no delay in arranging bank financing.
    • Unlike an ordinary home buyer, there are no requests to the seller to fix anything.
    • Once the professional buyer visits the property and does his/her own inspection, shortly thereafter, he/she makes a firm cash offer and is ready to close on acceptance.
    • The seller does little but accept an offer, sign the deal, and walk away with the cash.

    How do you find a reputable professional cash buyer to take this house off your hands now?

    • An online search will quickly turn up cash buyers in your area.
    • Post your house on Craigslist, asking for the highest and best cash offers to be submitted by a date you set.
    • Go to a local Real Estate Investor’s Club meeting to offer your property for sale and get information. You’ll receive valuable leads and advice and perhaps some offers.
    • Wholesalers can put together deals quickly and may be found through Real Estate Investor’s Clubs and sometimes through internet searches.
    • Terms such as “renovations” and “fix-and-flip” can also help turn up cash buyers.

    How can you know you are dealing with a reputable company?

    • Check with the Better Business Bureau – are they listed, do they have reviews, have there been any complaints, and how were they resolved?
    • Ask for good leads at the Real Estate Investor’s Club mentioned above. You may be surprised at how much information will be forthcoming from people with real experience.

    Reputable professional cash buyers work with people in your situation every day. They have structured their business, as I have with PDX Renovations, to fill a gap in the real estate market when an owner with little or no cash to put into a house needs to move it on quickly. They will let you leave with cash and without the headaches and heartaches of the traditional selling process for a house needing a lot of work.

  • What to Tell a Cash Buyer About Your House

    So you’ve decided that before pouring money into repairs and upgrades to help your house sell on the standard home-buyer market, you are going to approach some cash buyers and see what kind of offers come in. What should you be prepared to tell a cash buyer in your first phone contact?

     

    • Your name and contact information – surprisingly people do forget to tell someone how to reach them in their message! Give the phone number you want to use to talk to them, and don’t automatically route them through your work number if you want more privacy.

     

    • What, specifically, do you hope the cash buyer will ultimately do for you? Do you want to just sell the house for cash and be done with it; or are you asking for help to fix it while you stay involved with the sale to a consumer? Or do you need information about all your options? Remember, they don’t know exactly what you have in mind or if it’s a match for what they do.

     

    • How soon do you want to close? Do you want to finish this within a week or two, or do you have more time?

     

    • The location of the house, starting with the address, of course. It can also be helpful to mention the nearest major cross-street and business or shopping district. It gives the cash buyer a mental head-start to know the property is just west of a major thoroughfare and a half-mile from a popular shopping district.

     

    • The general house description – bedrooms, square footage, etc. – and when the house was built. The standard description includes the size of the lot, number of bedrooms and baths and if there are extras such as a basement. The cash buyer will see the details for themselves when they visit, so you don’t need to spend time on an exhaustive description.

     

    • A short mention of the property condition, without elaboration, is all that is necessary. Remember that the cash buyer is a professional who will make his/her own on-site assessment. You could say simply that “everything works but it’s old” or a quick heads-up that “there are sagging ceilings and a sinkhole in the backyard”.

     

    • Let the cash buyer know when and how they can visit the property to perform their own inspection. Is there a lock box so they can do it on their own, or do you need to meet them there? Have alternate meeting times ready so you can schedule on the first phone call and save time on call-backs.

     

    Some cash buyers may want to do a detailed question-and-answer on the phone; others just want the property address and your phone number. Be prepared when you first make contact, and you can save time by avoiding having to call again with more information.

     

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    Question or Prompt for Response – open ended, relevant

    So you’re going to make your first call to a cash buyer – what information should you have ready?

     

    Call to Action

    Do you have a piece of property (house, lot, or land) you’d like to sell fast?  Fill out our Sell Fast Form and get a cash offer within one hour of us viewing the property. https://patient-liger-dev.10web.site/sell-house-quick/we-buy-homes-bring-us-a-deal/