How It Works Page? Fast Home Offer Utah
*Buying criteria is that we do not buy mobile homes without land.
It’s life. You face challenges on every step of the way. When you’re struggling with personal & financial issues, you need someone to guide you. You want someone to help you understand the matter and find a solution. Every problem is solvable. Provided the right guidance and information, you can take the right decision.
In this page, you’ll find answers to questions such as:
- How we buy properties quickly and for a cash price?
- How do we calculate the cash price offer for your home?
- How can you sell home for cash?
- And, how the process benefits you.
We buy houses in Ogden, Salt Lake City, Morgan, Roy, and associated areas. Fast Home Offer Utah is a local real estate solutions firm. We have been trained by some of the best investors in the industry. As lifetime students, we have invested hundreds of hours and thousands of dollars in learning our work. Our firm is connected to a national group of real estate investors.
That education and supportive network helps us turn dreams into realities. We can help homeowners like you while earning an income from doing a job we love.
As a real estate solutions firm, we help individuals avoid foreclosure. Our team can help you negotiate a short sale. We can educate you about your options regarding any real estate problem. We aim to create a win-win situation for everyone.
How We Buy Houses Fast and for a Cash Price?
Bank appraisals and mortgage approval take the most time whenever you’re selling a house. Furthermore, there are repairs to be made. You want to improve the interior and make sure that your home looks good from outside. Before closing the deal, the buyer will inspect the house.
At Fast Home Offer Utah, we bypass this process. We purchase your home directly. We are real estate investors, and we use our cash to buy your house. Therefore, bank involvement is not required.
We buy your home as-is. That means you don’t have to repair the house and inspections are not required on your part.
We’ll tackle the repairs later. Our team will consider the location, and condition of your house and you’ll get your cash offer in the next 24 hours. Since the funds are available and our team is ready to help, your home will be sold on a date of your choice.
How We Calculate the Cash Price of Your House?
We have a simple process in place, and we are available to answer any questions you might have. After visiting your home, we run the numbers to come up with a price that works for you and works for us.
In this section, you’ll learn how we come up with the numbers. We’ll tell you about our profit margin as well as the risk factor.
You see our offers are based on the following five factors:
- The ARV (After Repair Value of your home)
- Rehabbing Costs
- Holding Costs & the Risk Factor
- Selling Expenses
- Minimum Profit
What is the After-Repair Value of Your House?
It is essential to know what is the after-repair price of your property. We take into consideration, recently sold homes is in your area.
These properties must be located in your area and must share similar features such as the lot size, number of rooms, age, and style. You can consult a real estate agent to find comparable sales in your area.
Let’s say the after-repair value of the house is $270,000. That means, if you rehab your house, you can sell it for $270k. Now we need to know which repairs (and renovations) are required to update your property and how much will they cost.
Each property is different. Our team of contractors will observe the site before we send you a quotation. We will take into account the condition of the house as well as the repairs required. Depending on the results, let’s assume, remodeling the house will cost $40,000. That includes renovation costs as well.
Next, we need to know how much time will it take to repair & sell the house. We start getting bills as soon as we buy your house. Before closing, we pay for the earnest deposit, attorney’s payment, title search, title insurance, home inspection, and so on.
After the deal has been closed, we pay for the taxes, builder’s insurance, and utilities. The owner spends money for each month; the home keeps sitting on the market. For example, there are home insurance installments, and electricity bills to be paid.
We buy houses as-is and make sure that you (the seller) doesn’t have to pay anything to sell the house. However, after rehabbing, we sell the property in the retail market, and that costs us money. We often hire a real estate agent, and his commissions are usually included in our expenses list. We market the property on our own.
It is an estimate that together holding costs & selling expenses make 10% of the sales price. Okay, so now, you know the after-repair value of the house. You know how much it costs to repair the home and the cost of selling the property.
We are taking a risk by purchasing your home as-is. We invest a lot of time, money and capital into our renovation projects and we believe it is fair to seek a reasonable return on investment. Our projected ROI for most projects is 10%.
Each property is unique, and this calculation is an example only. However, our process is simple. Whenever we send an offer, we will sit down with the homeowner and will run the numbers with them. Our goal is to help you, and all our offers are no-obligation quotes so that you don’t feel hurried or pressurized to accept an offer.
We can close on your timeline and can pay you through a convenient method.
We hope this page answers your questions. For other questions or comments, please fill out this form or give us a call.
We’ll be delighted to hear from you.