Do We Make Low Ball Offers?

Is Your We Buy Houses Firm Going to Make Me A  Low Ball Offer
Carl Mullin:
Good morning. It’s Friday morning, time for Fan Mail Friday, once again. Hi, this is Carl Mullin with Rapid Home Deals. And the question we have from our seller this week is, “Is my we buy houses firm going to give them a lowball offer?” Well, that’s a good question coming from our seller this week. Now, if you think a lowball offer is anything below market, then yes. But what goes into that offer?

1. First off, if your kitchen and your bathrooms haven’t been replaced in seven years, then they’re going to get replaced.
2. If your house hasn’t been painted in the interior in more than five years, it’s going to get painted.
3. If your flooring hasn’t been replaced or is worn in 10 years, that’s going to get replaced.
4. If the roof has less than five years of life left in it, that’s going to get replaced. We can’t sell to a buyer who’s looking to get a mortgage if there is less than five years of life in that roof, because the insurance companies will not insure it.
5. Do you have any little maintenance items that you’ve been putting off for quite some time? Well, guess what? They’re going to get done.
6. And yet, how is your curb appeal? I mean, has that landscaping been taken care of and everything looks nice, got some nice flowers out front to give a little color or a little pop to the house when you see it from the street? If not, it’s going to get some.

So the other thing is,
1. we are also paying your closing costs, about 3%. and we’re going to pay off your mortgage. We’re going to pay off any back taxes.
2. And we’re NOT getting a commission of 6%.
3. So, the average house today sells for about 3% less than the list price.

So when you take in the reduction in sale price, if you take in the closing costs, if you take in the 6% commission, then basically, you’re going to net about 88% of that list price. And you’ll also likely then need to do some of the items that I just mentioned above.

So when you take all that into consideration, then the lowball offer that you think you’re going to get from a we buy houses firm is really not all that low, is it? So that’s our answer for this Friday, and we’ll see you next Friday.
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