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Tag: As-Is Sale

As-Is Home Sale vs. Traditional Home Sale: Offer Comparison

Posted on by Hometown Development

There’s a lot of misinformation out there about the differences between an as-is home sale versus a traditional retail sale offer. Since we often purchase homes as-is, we thought we’d share how our offers compare to traditional retail sale offers, to give you a better picture of the differences between the two.

What Is an As-Is Home Sale?

In case you’re new to the term as-is home sale, let’s look at a quick definition. 

An as-is home sale is where you and the buyer agree to a price for your home exactly as it already is. No repairs, no cleanup, and no hassle. 

As-Is Home Sale vs. Traditional Home Sale: The Breakdown

An as-is home sale is very different from a traditional sale, so let’s go point-by-point to ensure you know the difference. Once you do, you’ll be able to decide which is best for you.

Selling Fees

There are a number of fees associated with a home sale including everything from closing costs to title transfer, and even paying your realtor. Let’s look at how those fees differ between as-is home sales and traditional home sales.

Traditional Sale

In any home sale, you have to have a title company transfer the title of the home to the new owner. In a traditional sale, the process is a little more complicated since your buyer is purchasing the home with a loan from the bank. You’ll need to pay title insurance, transfer taxes to your state or county, and a title closing fee. You’ll also have to pay the title company to do the work. Other costs associated with a traditional sale include

  • Holding Costs – During the closing process, you are responsible for all property taxes and insurance fees that accrue. These are called holding costs because they’re costs that accrue while you’re holding the home for the new buyer.
  • Realtor Commission – When you list your home on the market, you hire a realtor. At the end of the process, your realtor will take a percentage of the sale prices as a commission. If you sold your home for $125,000, your realtor would take $7,500 of that as their commission.

As-Is Home Sale

In an as-is home sale, you still have to pay for transfer taxes and title insurance, but the process is a little less complicated because your offer is in cash. When you work with a real estate investment firm to sell your home for cash, they will waive any additional fees associated with the title company, so all you pay is the cost of the title insurance and transfer taxes. That’s it.

Since you’ll close in as little as 5 days, there are no holding costs. There are also no closing fees. Finally, you don’t need a realtor for an as-is home sale, so you pocket every penny of your cash offer.

Costs to Repair your Home

TL;DR — As-is home sales require ZERO repairs to your home! Yes, seriously. We break that idea down more below.

Traditional Sale

In a traditional sale, any offer you receive that is financed by a loan must have an inspection. Since the people buying your home will take out a loan from the bank to cover their purchase, the bank has to know that they’re making a solid investment.

An inspection will be conducted and depending on what the inspector finds, you’ll be required to make improvements. Improvements can average between $20,000-$40,000 but can go much higher depending on the state of your home. You may either complete the repairs yourself, or the estimated cost of repairs can be taken out of the original offer.

As-Is Home Sale

As the name suggests, with an as-is home sale, your home is being purchased as-is. Since a real estate investor will be paying in cash, with no help from the bank, they don’t need to have an inspection done. This means you won’t have to make any repairs. Again, all the money from an as-is home sale goes straight into your pocket.

Financing Contingencies

To finalize a traditional home sale, the buyer’s lender also requires an appraisal to ensure that the home is worth however much the buyers have agreed to pay.

Traditional Sale

If the lender’s appraisal comes back as less than what the buyers are offering to pay for your home, the buyers will ask for a concession or price reduction. Without a price reduction, they will be unable to take out a loan for your home and must back out of the sale.

As-Is Home Sale

In an as-is home sale, no banks are involved. The buyer has the money they need to purchase your home on hand, and they require no loans. As such, they won’t have the home appraised and will simply pay you for the agreed-upon price.

Closing Time

Depending on your situation, the time to close is an important aspect of a home sale. If your home is in danger of foreclosure or if you need to move to a new location quickly you may not have time to wait around for your home to close. Here’s the difference between the two sale options:

Traditional Sale

In a traditional sale, it can take anywhere from 60-90 days to close on a home. This is because all the details of the sale must be taken care of and because your buyer must secure a loan that will cover the cost of the home. There are a number of details to iron out, and even if your home moves off the market immediately, the closing process in a traditional sale takes time.

As-Is Home Sale

You can name your closing date with an as-is home sale. Again, because an as-is home sale is a direct transaction done between you and the buyer, with no middlemen or unnecessary paperwork, it can be done quickly and on your timeline.

The Offer

In both sale situations, traditional and as-is, you’ll receive an offer for your home. Let’s say your home was worth somewhere around $125,00 on the market. Here’s what you’ll actually take home in either situation.

Traditional Sale

It’s important to remember that when you sell your home on the market, all of that $125,000 won’t go into your pocket. You’ll have to pay for:

  • Transfer taxes and fees
  • Title insurance and fees
  • Closing fees
  • Realtor commission
  • Repairs and renovations
  • Holding costs
  • Financing contingency

And you’ll have to wait 60-90 days to see your money. All of those fees and costs added up will bring the money you actually pocket down to around $85,000.

As-Is Home Sale

If your home is worth $125,000 on the market, you’ll likely see as-is home sale offers for around $85,000. While this looks lower than that $125,00, remember that the only things you pay for are:

  • Cost of transfer taxes
  • Cost of title insurance

And you could get money in your pocket in as little as five days. No repairs, no realtor commissions, no closing fees — just money for you.

The Bottom Line: Is an As-Is or Traditional Home Sale Right for You?

In the end, the money you get from an as-is home sale is fairly comparable to what you end up with at the end of a retail sale. The money you save in repairs, fees, and most importantly, time, makes an as-is home sale and a cash offer an attractive alternative. Best of all, you can close in as little as 5 days, helping you move on quickly, with plenty of money in your pocket.

Still not sure which type of sale is best for you? Request a personalized comparison from Hometown Development today. We’ll provide you with a customized breakdown of our offer versus what you’d get from a traditional offer. You’ll be able to see line-by-line the pros and cons of each option based on the market value of your home.

Can You Sell a House With Mold?

Posted on by Hometown Development

Yes, it is possible to sell a house with mold, but you must disclose the problem to potential buyers before selling. Let’s break down what a mold problem means for you and your home, and how you can sell a house with mold fast.

Can You Sell a House with Mold?

If you’ve noticed signs of mold in your house — damp or peeling wallpaper, dark spots on your walls and ceiling, flooding damage, musty or foul odors in your heating system — the good news is you can still sell your home. If you can’t deal with the mold before you sell, it’s your obligation to disclose the mold to potential buyers. If you’re able to take care of the mold before you sell your home, you’re likely to have more luck finding a buyer. However, there are plenty of situations where dealing with mold problems first isn’t an option. Assessing and treating mold in your home can get expensive, fast. It also can take time to find all of the mold and get rid of it completely. If you need to sell a house quickly, or don’t think you can afford the repairs your home needs, you’ll need to sell your house with mold.

Disclosing the Problem

If you plan to sell a house with mold, you’ll need to disclose the problem to potential buyers. You should put it in writing to make sure any interested buyers are aware of the extent of the mold so you’ll be protected from any liability. You might consider consulting a legal professional to make sure everything is clearly stated. Although most buyers and lenders will be wary after hearing the news, it’s still possible to sell a house with mold. Keep in mind you may need to adjust the selling price to help buyers see the home’s potential beyond its problems.

How to Sell a House with Mold

To sell a house with mold, your best bet will be to secure a cash offer you can trust. You can either wait for the right buyer to find you or, for a quick and hassle-free sale, sell your house for cash to a real estate investor.

Sell Your House Fast for Cash

A cash sale means the buyer has the funds available to purchase your home in full, right now. They don’t rely on a bank to secure financing, which means cash sales often close faster than traditional home sales. Also, many lenders will not grant a mortgage for a house with mold, so a cash buyer will be your best option. If you can find the right cash buyer who is willing to overlook the mold, other fixes your home needs are likely not to deter them either. Whether your home needs expensive repairs or just a bit of TLC, a cash sale could help you sell a house with mold.

Sell Your House to a Real Estate Investor

Another way to sell a house with mold is to sell to a real estate investor. Real estate investors are more interested in the potential of a home than its current state, and will offer you a fair price based on its real market value. They prefer to close on home sales quickly, in cash, so you don’t have to wait for a bank to approve financing, or go through a long closing process. If you sell a house with mold to a real estate investor, you can sell quickly without having to spend money to fix up your home or deal with the mold yourself. If you’re struggling to combat mold in your home, know that you do have options. If you’re trying to sell, but can’t seem to find a buyer given your mold concerns, Hometown Development can help. Give our team a call to talk through your options today.

What Not to Fix When Selling A House

Posted on by Hometown Development

Selling a home can feel like a huge task, and the process of getting there can be complicated, time-consuming, and pricey. Before listing your home on the real estate market, you may have a hundred things you think you need to fix, change, or update to make your home ready to sell and attract a buyer quickly. How many of those things will actually help you sell your home? How many are not worth the effort and cost? To help you narrow down your list, here are some things not to fix when selling a house.

What Not to Fix When Selling a House

Some home repairs you can eliminate from your list because they’re too much work for the reward, too expensive to earn back in the selling price, or just not feasible with your timeline.

Cosmetic Repairs

Cosmetic changes and fixes, such as changing paint colors or upgrading the landscaping around your home, are relatively easy to do yourself, but may not be worth the extra effort. Most times, it’s better to leave these changes up to the buyers to customize according to their preferences. 

If your home has brightly colored walls that are loud and distracting, painting with a more neutral palette might be a useful change to make. However, unless the paint or landscaping majorly detracts from your home’s appearance, don’t place these types of repairs high on the list of priorities. Make sure things are clean and tidy, but don’t feel like you need to completely makeover your home before selling.

Updating Kitchens and Baths

Kitchen and bath updates are repairs that make the list of what not to fix when selling a house. Could they help increase your home’s value? Probably, but are these changes worth the time and money? It’s unlikely that you can earn back the costs of these repairs in the sale price for the same time and money you spent. Leave the upgrades to the next owner, so they can get exactly what they’re looking for in a new kitchen or bathroom.

Halfway Repairs

If you can’t afford to make the full repair, don’t do it halfway. Repairing problems with your home with temporary or “creative solutions” are things to not fix when selling a house. It’s better to spend the money to make the repair completely and effectively, or disclose the problem to a buyer than try to do a patch job for a low cost.

What You Should Fix When Selling a House

If your home needs a lot of work, there might be a few things you should fix to help you sell your home. Some traditional buyers may not make an offer before you have these types of repairs resolved.

Major repairs like foundation damage, faulty electrical or plumbing, a leaking roof, mold or water damage, or other major problems should be addressed before selling your home. Although they may not be the least expensive to tackle, any problems that make your home unsafe to occupy need to be addressed before you can sell.

Major repairs are red flags to buyers. If a home needs a lot of expensive work upfront, buyers will be more hesitant to make an offer, unless they can purchase your home for a very low price to justify the extra cost and effort of repairs.

How to Sell Your Home Without Making Any Repairs

If you don’t want to make any changes to your home at all, or can’t afford the major repairs your home needs, you still have options. You can sell your home as-is or sell to a real estate investor for a quick, cash offer.

Sell Your Home As-Is

In an as-is sale, you put your house on the market in its current condition, without making any repairs or updates to the home. You avoid the time-consuming and expensive changes to make your home ready to sell, and wait for a buyer looking for a project. Be aware that, in order to sell your home as-is, you may need to price it competitively. If your home needs a lot of work, only specific buyers looking for a project may be interested.

Sell to a Real Estate Investor

When you sell your home to a real estate investor, you can sell your home as-is, without worrying about what to repair and what not to fix when selling a house. You can sell without a Realtor and on your timeline — often in as few as five days. Real estate investors have the time and capital to make the repairs your home needs, so they aren’t scared off by outdated kitchens, cosmetic repairs, or even major repairs like leaking roofs or water damage. They will make you an offer that is fair for your home’s value, so you can sell your home fast, for cash, without the hassle of a traditional home sale.

If your home needs work on critical issues like the foundation, water damage, mold or roofing, a traditional sale may not be right for you. If you’re interested in a fair cash offer based on the market value of your home, Hometown Development can help. For your free, personalized offer, reach out to us today.

What to Expect When Selling Your Home As-Is

Posted on by Hometown Development
If you’re considering selling your home, you may be looking for an option that will complete a sale quickly and efficiently, with minimal stress or manual labor. With an as-is sale, you can expect to sell your home fast, without having to deal with the usual repairs and delays of a traditional home sale. If you’re ready to move out and move on, an as-is sale might be the perfect choice for you.

What is an As-Is Sale?

Many homeowners are unfamiliar with an as-is sale. An as-is sale occurs when the homeowner sells their home exactly as it is, without making repairs, cleaning, or updating the home’s condition. The buyer will probably have the resources and time to make those changes, and purchasing the home for a slightly lower price allows them to do so. An as-is sale helps you sell your home quickly and without hassle, so you can get on with your life.

As-Is Selling Process

When you’re selling your home as-is, a potential buyer will assess the home and appraise its value. Based on the home’s value and any necessary repairs or changes, the buyer will make an offer, often in cash. 

Once the offer is accepted, the closing process is easy. The buyer will be ready to pay right away, so you won’t have to wait for them to secure a loan or other financing. You’ll receive the agreed-upon amount, and your transaction is complete.

The buyer already knows the condition of your home from the walk-through, so there won’t be any surprises. They will take care of any repairs or updates after the home is sold, so you won’t have to worry about it. The amount you receive might be slightly lower than if the house was in perfect selling condition, but you escape the hassle of trying to prepare it for sale. Here’s a helpful offer comparison of a traditional vs. as-is sale if you’d like to know more about the financial aspect of an as-is sale. 

You won’t need a realtor if you sell your home as-is, you’ll just work with the buying agent and can avoid realtor’s commission fees completely. The entire process will only take a week or two, and you can get started on whatever is next in your life.

What to Expect When Selling Your Home As-Is

You won’t need to make repairs.

Even if you spend the time and money to make the necessary changes to your home before selling, there’s no guarantee you’ll be able to make that money back in the list price. Selling your home as-is means you’ll have your money faster, and for a good value based on your home’s current condition. However, fixing major issues such as a leaky roof or a foundation concern may have monetary benefits.

You can sell your home fast.

The process can vary, based on the housing market and local competition, but the total length of the as-is sale process is from five days to two weeks. As-is sales don’t require multiple showings or inspections, which further cuts downtime before closing. Compared with a traditional home sale which can take two months or more, a quick as-is sale is very appealing.

You don’t need a realtor.

Realtors can be a hassle. They are often more concerned with their cut of the profits than what you as the homeowner will get out of a sale. Realtors aren’t necessary with an as-is sale. The buyer and the seller communicate to agree on an offer that best matches the home’s value.

You can unburden yourself from a weighty mortgage or fear of foreclosure.

If you’re feeling pressure from mortgage lenders or are in the foreclosure process, an as-is home sale can help you get out from under your debt quickly and painlessly, and free you of the worry of losing your home. Don’t let your debts sink you. You can take control of your finances by selling your home as-is for an instant economic solution.

You can move on quickly.

Most importantly, once you sell your home in an as-is sale, you can move on right away. Start the next chapter of your life in a new home, without having to cope with the stress of selling your old one. You can have the life you want, and an as-is sale might help you get there.

As-is sales aren’t right for everyone. If you have the time, money and skills to repair your home and prepare it for sale, entertain showings and negotiate with potential buyers, host inspections and wait for the sale to close, you might be more comfortable with a traditional sale. However, if you’re concerned repairs won’t have much of an impact on the sale price, or the hassle just isn’t worth it, or you need to sell your home fast, an as-is sale will put money in your pocket much faster.

If you still have questions about the process, or if you think an as-is sale is the right option for you, Hometown Development can help. Give us a call at 616-379-3090 or contact us online for more information. 

How Long Does an As-Is Home Sale Take?

Posted on by Hometown Development

If you want to sell a home quickly for whatever reason, be it divorce, death of a family member, or foreclosure, you may have heard that selling for cash, as-is is the fastest way to do that. But just how soon can you expect to be out of your house, money in hand, and onto the next thing? How long does an as-is home sale take?

How Long Does a Traditional Home Sale Take?

Before we tell you what you really want to know, first, some context. You’re really going to appreciate what you read next about how long it takes to sell a home as-is once you know what the alternative is. And it isn’t pretty. According to Zillow, most homes stayed on the market for an average of 68 days. So, just over two months. If you need cash now, that’s not great, but that figure is even more concerning when you figure in a couple of things: that is the average, meaning that some homes were on the market for much, much longer than 68 days and that “on the market” means just that, listed for sale. 

 

Some of these homes were on the market but were taken off, even though they didn’t sell. The sellers might have changed their minds about selling, or simply have gotten discouraged and given up. After a few months or even years of waiting for a home to sell, the buyers may have even decided to sell as-is.

How Long Does an As-Is Home Sale Take?

You can sell a home as-is in as little as five days. That’s right, five days. What’s the difference between that and a traditional sale? Just over two months. 

 

While obviously every case is slightly different, selling as-is really can happen quickly in the span of just a week or two, as opposed to months. This is because the lengthy process of listing the home, doing showings, considering offers, and inspections is virtually cut out of the equation. 

 

When you sell-as is, generally speaking, the buyer will appraise and inspect the house themselves or through an agent, and use that information to make an offer. The middlemen of realtors are cut out, and there’s no long approval process for the buyer to get financing for a mortgage. 

 

If you are hoping to sell your home quickly, as-is or for cash, consider talking to the team at Hometown Development. A local real estate investment firm, we purchase properties in cash, and we can help you close in as little as 5 days. For more information about our process, give us a call at 616-379-3090 or contact us online today.

Can I Sell A House that Needs Repairs?

Posted on by Hometown Development

It’s a tough situation: you need to sell your house, but it’s not in good shape. Maybe you haven’t been able to keep up on repairs since you’ve gotten older, or maybe you simply don’t have the money to fix the problems that have been cropping up. But you know that no one wants to buy a new home with problems… right? If you’ve been asking “Can I sell a house that needs repairs?” here are your options.

Repair the Home 

If your home needs repairs and you want to sell your home in the traditional way, through a realtor, you may choose to make those repairs. Depending on the cost and extent of the repairs, you may be able to do this yourself or have to hire a contractor. Replacing an old water heater or countertops might not be too big of a repair to have done yourself before a sale, but replacing the whole roof might be another story.

 

While traditional sale of your home might result in the greatest price for your home, doing the necessary repairs can have some downsides. If the repairs are extensive, you may be out a lot of money, which you may or may not recoup in the sale. Also, these repairs can take a lot of time, which you may not have to wait.

Sell the House As-Is

Selling a home as-is is exactly what it sounds like: you sell the home in the condition it’s in, regardless of any issues or repairs needed. While you might not get the same price you would if your house was in perfect condition, you don’t have to worry about the expense and time of making repairs yourself. If you need to get out of your house ASAP, for instance, in a foreclosure or divorce, you may not have the time or funds to complete a repair.

 

Selling as-is means that the buyer accepts whatever issues the home has and will pay for the repairs themselves. If this buyer is a real estate investor or house flipper, they likely have the resources to complete these repairs for less than it would cost an average homeowner, meaning that they might even pay more for your house than you would have gotten in a traditional sale, after you subtract your expenses for the repairs. 

 

Plus, selling as-is expedites the sale process. Since the buyer is accepting that there are issues with the house, there aren’t the same kinds of inspections and evaluations that happen with a traditional sale. Additionally, these buyers are motivated to close sales quickly, so that they can flip the house and start making money themselves.

 

Hometown Development purchases properties in any condition. It doesn’t matter what repairs your home needs if you’re looking to move on, we can help you. Contact us today online, or by phone at 616-379-3090, for more information about your cash offer. 

I Need to Sell My Home Fast — What Are My Options?

Posted on by Hometown Development

There are many reasons you may want to sell your house quickly. Whether you’re facing foreclosure, getting divorced, are moving for work, or simply need money, selling your home as fast as possible is crucial. But selling quickly can be hard to do. If you need to sell your home fast, here are your options.

Traditional Sale Isn’t the Best Option

It might have been a while since you bought your home, but if you think back to that process, you’ll remember that it wasn’t a quick one. The traditional sales process for homes moves at a glacial pace. First, you need to find a realtor, who lists your home for sale. Then your house could sit on the market for months—even years—before someone is interested enough to make an offer. Plus, once an offer is made on the house that you accept, there’s still a lengthy process of inspections and permits and signing documents before closing.  

 

Additionally, another component of a traditional sale is making the home as appealing to potential buyers as possible so that you can get the best price for it. This can often include making updates and upgrades from minor things like buying new appliances and cosmetic changes like a new coat of paint to more extensive renovations. Those changes take time and money, for little to no guarantee of success in selling the home or fetching a high price.

Sell As-Is

As we mentioned in the last section, sometimes homeowners will make changes and renovations to their homes in order to make them more saleable. But, this takes money and time, and you don’t want to spend either when you’re looking to sell quickly. Selling the home as-is is a way to avoid the delay and hassle of updates and remodeling.

 

This also cuts down on the negotiation side of selling a home, which itself can lengthen the process. If it’s clear that you’re selling the home as-is, you won’t have to bicker with buyers who will only give you your asking price if you replace all the appliances or put in a new water heater.

Sell for Cash

The whole process of getting approved for a mortgage is another lengthy part of the traditional sale cycle that you can and should avoid if you need to sell your house right now, today, ASAP. Selling for cash is the way to do this. No financing approvals that take weeks and months, no hassle in getting your money right away.

Sell to Real Estate Investors

If you sell to real estate investors, instead of a traditional sale to future resident homeowners, you’re going to shave a lot of time off the home sale process. This is in part because investors have the capital and resources to enable the options we mentioned previously: buying for cash and buying as is. Plus, real estate investors and developers also are motivated to speed up the sale process. The sooner the purchase is completed, the sooner they can start making money off the home and property.

 

If you’re moving out of town, facing foreclosure, or simply just need to sell your home quickly, the team at Hometown Development can help. We purchase properties in any condition, for cash, which means we can close in as little as 5 days. For more information, or to start the process of selling your home fast, give us a call at 616-379-3090 or contact us online today. 

6 Tips to Selling a Home As-Is

Posted on by Hometown Development

Are you considering selling your home as-is? Whether you need to move out quickly, don’t have the time or money to make the repairs your home needs, or are just hoping to get out of an expensive, troublesome mortgage, an as-is sale can offer you a lot of benefits. No matter why you’re selling your home as-is, here are 6 top tips to help you sell your house as quickly and as smoothly as possible. 

#1 Be Honest

The great thing about selling a home as-is is that you don’t have to handle any of the necessary repairs or problems your home might have. That said, you are still legally obligated to honestly answer any questions a buyer asks you. If you know your roof has a leak, your foundation has a large crack, or you’ve experienced electrical issues, termite damage, or any disputes over the title, you’ll have to disclose that information to the buyers. It’s good to know that if you’re selling the home as-is, these issues won’t typically deter a serious buyer, but you do have to disclose them before selling the property.

#2 Create an Attractive Listing

If you’re planning to sell your home as-is, and aren’t interested in hiring a realtor or reaching out directly to a specific real estate investor, then it’s a good idea to create a digital listing on real estate sites like Trulia and Zillow. In most cases, you can post a listing for free, and you can specify in your description that you’re selling the home “as-is”. 

To create an attractive listing, make sure you take a few great pictures of your house. Wait for a bright, sunny day, so your pictures feature a lot of natural light, both indoors and outdoors. Then, post those images with an honest, positive description of your home. 

#3 Price to Sell 

If you’re listing your home online and you’re planning to sell as-is, you’re going to want to price your home to sell. Many homeowners think they can start at a higher price, and then just let potential buyers talk them down a bit, but in reality, this typically just increases the amount of time your home sits on the market. 

Price your home to sell, keeping in mind that when you sell as-is to a cash buyer, you don’t have to pay for closing costs, any inspection fees, repairs, or renovations. In many cases, you won’t even have to clean your home. The offer you get from the buyer is the money you’ll keep, so remember that as you set a price for your home. 

#4 Don’t Just Accept the First Offer

Now that you’ve listed your home for a great price online, it’s time to listen to offers. If your home is priced well, and listed “as-is”, you’ll likely start to see offers from as-is buyers, investors, and individual homeowners looking for a project. It’s important to take a good look at each of the offers you get, rather than just accepting the first one. If you’ve just listed, give your home a few days before you accept an offer. It can be in your best interest to hear what all of your potential buyers have to say, so you can choose the offer that’s best for you. Remember that offers aren’t all just about cash, either. If you’re still living in the home, you’ll want to make sure you accept an offer from a buyer who gives you a reasonable amount of time to move out, and who can close on your schedule. 

#5 Choose an Investor You Trust

When you sell a home as-is, many of your potential buyers are likely to be real estate investors, like Hometown Development. It’s important that in the end, you go with an offer from a buyer or investor that you trust, and who has a good reputation. You don’t have to accept an offer from an investor you don’t like, or who seems to be pressuring you into making the sale. If you don’t feel quite right about a buyer, it never hurts to do a bit of homework — look them up online, check out their business profile, and see if they have any reviews from previous clients. A great real estate investor will have a solid reputation and a legitimate website offering information about their past and current projects. 

#6 Be Flexible

Selling your home, even when you sell as-is and for cash, isn’t always easy. It’s important to be flexible as the seller, so you can make that sale happen in the time frame you’re hoping for, and for a reasonable price. Remember that when you sell your home, you’ll have to be available to let buyers walk through and take a look at it, and also remember that not every buyer is going to give you an offer that’s at your asking price. As long as you remain flexible, and work to accept an offer from a legitimate buyer who is willing to work with you, too, you should be able to sell your home as-is, with minimal hassle. 

 

Selling a home as-is doesn’t have to be difficult. If you need to move on from your property quickly, and without making repairs, the Hometown Development team would be happy to help. We purchase properties exactly as-is, and for cash. For more information about our process, and for your own personalized quote, give us a call at 616-379-3090 or contact us online. 

What to Look for in a Cash Offer For Your Home

Posted on by Hometown Development

If you’ve decided that accepting a cash offer is the best way to sell your home, you’re likely already familiar with the benefits. You don’t have to make repairs, you don’t have to worry about inspections, and you should be able to move on from your home quickly. But, what about accepting that cash offer? 

There are indeed shady investors out there. It’s tough to trust every cash offer you see, which is why we always encourage homeowners to do a little bit of homework before they accept an all-cash offer for their home. If you’re ready to accept a cash offer for your home as-is, here are a few things to look for from the person or company who will be purchasing your home: 

 

No Upfront Fees

One big red flag to take note of is if the buyer asks for any fees or cash from you upfront. If they have an application fee or require money from you in any way before they purchase your home, you have a right to be wary. Most professional real estate investors don’t require an application fee, and in fact, cover the majority of extraneous fees involved with the home sale process. That brings us to our next point:

 

No Additional Closing Costs or Fees

Most reputable real estate investors don’t require you to pay anything. They’ll subtract any necessary transfer taxes and the cost of the title insurance from your offer, but otherwise, you shouldn’t have to pay anything.

If someone is offering you cash but requires a number of fees and closing costs upfront first, you may want to look for a different buyer. Reputable developers and investors will work to make the closing process as simple and as inexpensive as possible for you. If you feel you’re getting nickel and dimed on a bunch of fees that you’ve never heard of, you might want to do a little more research on your buyer. 

 

No Contingencies

The nature of an as-is cash offer is that the buyer is purchasing your home as-is. That means there should be no purchasing contingencies based on the condition of your home. Ask your buyer to explain their offer thoroughly. 

How did they arrive at the number they’re offering you? And is there any reason their offer wouldn’t go through? 

Reputable real estate investors will tell you that your offer is based on the market value of your home, and since they’re purchasing your home as-is, nothing regarding its condition should be grounds for terminating the sale. 

 

Closing On Your Schedule

Another key benefit of accepting an as-is, cash offer for your home is that you should be able to close in a time frame that’s convenient for you. Reputable real estate investors can help you close in as little as five days, so long as there aren’t several outstanding liens on your home. 

Quality cash buyers will work with you to make the closing process as easily as possible. If your buyer isn’t willing to work with your schedule and seems inflexible about your options in the closing process, you might want to reconsider their offer. 

 

A Legitimate Business

The best way to protect yourself from a scam or a bad offer is to do as much research as you can on the buyer. If you can find a website and reviews about their company, both on their website and on sites like Google, then you know they’re a legitimate business with a reputable history. If all you have is a phone number for the buyer, do a little more digging. If you still can’t find anything on them, you might want to look for other offers from established companies you can trust to deliver on their offers. 

Accepting a cash offer for your home is a great way to move on from a troublesome property with minimal hassle. It’s just important to remember to do your research before you accept a cash offer. There are many legitimate real estate investors out there who are sure to be interested in your property — you don’t have to settle for an offer that doesn’t seem quite right. 

For a cash offer you can trust, call Hometown Development. We’re purchasing and remodeling homes in the West Michigan neighborhoods we love, and we’d be happy to make a fair cash offer for your home. To talk about a cash offer for your home, get in touch with us online or give us a call at 616-379-3090 today. 

5 Reasons to Sell Your Home As-Is

Posted on by Hometown Development

Selling a home can be a long, stressful process. From hiring a realtor and finding a buyer to making sure that the sale is going to close properly, many components go into a traditional home sale, and most of them take time. 

What many people don’t know, or tend to forget, is that there is an alternative to selling a home on the traditional market. You also have the option to sell your house as-is. Though it’s not the right move for everyone, an as-is sale can offer several benefits for homeowners. Here are a few reasons you might consider selling your home as-is:

Your Home Needs Serious Repairs

If your home needs significant repairs and is facing troublesome issues like a cracked foundation, faulty plumbing or electrical wiring, or more, an as-is sale could be in your best interest. In most cases, before putting your home on the traditional market, you’d be required to make some (if not all) of the necessary repairs, before you could see interest from a traditional home buyer. That’s a lot of money out of your pocket before you see any return, and it’s not guaranteed. 

An as-is sale means that you’re selling your home in the exact condition it’s already in. While you will have to disclose the current issues with your home and you’ll have a lower asking price, you won’t pay any money out of pocket to make the sale. 

Your Home Is At Risk of Foreclosure

Foreclosure can be frightening. It may feel like the state and ownership of your home is out of your hands. It’s good to know that you do own your home until the county officially forecloses on the property, which means you have options until then. An as-is sale can help you get out from under that home quickly, and without much additional expense to you. 

Since you’re selling as-is, where many buyers make cash offers, you’re also often able to close more quickly. In a cash sale, you don’t need to wait for lender approval, or for much legal documentation to process through. That can shorten the home selling process to just days, instead of months.

You’re Working Through a Difficult Divorce

When you’re going through a divorce, it’s often difficult to stay on top of major expenses. Both parties have legal fees and attorney retainers to worry about, and it can be hard to determine who is responsible for the mortgage payments while your lawyers are sorting out your assets. 

Whether one party owns the home or it is jointly owned, an as-is sale is a great way to help move some of your concerns and responsibilities off of your plate while you focus on yourself and the divorce process. Since you don’t need to do repairs or clean, an as-is sale is much less hassle, and since it can be done quickly through a cash offer, it doesn’t take much work on your end.

You Don’t Have the Time or Money to Hire a Realtor

Realtors are an expensive and time-consuming part of the home sale process. While they certainly offer benefits, if you’re trying to sell a home quickly, or you’re on a tight budget, a realtor may not make sense for you. 

What’s more, when you list a home traditionally, with a realtor, they’ll want you to clear out your space, hire cleaners, and possibly even do cosmetic touch-ups like painting or staging the home. While these efforts can go a long way to get you the best price, if you’re already on a tight budget, a realtor may cost more than they’re worth for you.

When you opt for an as-is sale, your buyers are looking at the home with the understanding that what they see is what they’ll get. There’s no need to make repairs, and many as-is buyers will even offer to clean out whatever you don’t want from the home, helping you save both time and money. 

You Need to Move On Quickly

If you’ve inherited a home you’re not sure you can afford, you’re moving away for a new job, or you just need to move quickly, an as-is sale is likely your best bet. Like we mentioned above, as-is sales are often completed in cash. They also typically don’t require inspections, because the buyer isn’t going through a lender to purchase the home. 

All of these benefits can add up to more money in your pocket in a short period of time. You don’t need to make repairs, clean up, wait for a lender’s approval, or wait for the inspector’s report to come back. You simply list your home, accept an offer, and move on to wherever you’re headed next. 
As-is sales aren’t talked about as often as traditional sales, but they are a beneficial, cost-effective way to sell a home for many homeowners. If you think an as-is home sale might be right for you, Hometown Development would love to help. We purchase properties in any condition, for cash. Give us a call at 616-379-3090 or contact us online today for your free, no-obligation offer.

Licensed Contractor

Licensed Builder
Licensed Real Estate Agent

All closings performed by Bell Title
Meghan Vandenhout 616-942-8955

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