How We Buy Houses:
Tell us about your property – Quick, Easy & Free!
If it meets our buying criteria, we’ll contact you to set up a quick appointment
We’ll present you w/ a fair, no-pressure, no-obligation offer
We can close at a local reputable title company, cash in your hands in as little as 7 days
Timeframe: Once we get your info, we’re usually able to make you a fair all-cash offer within 24 hours. From there, we can close as quickly as 7 days… or on your schedule (sometimes we can have a check in your hand the very same day!).
Selling Examples – Let’s Get TRANSPARENT…
Summit Home Buyers buys houses in Salt Lake City (and other areas too!). We’re not listing your house… we’re actually the ones buying your house. Let’s look at an example.
Ever hear of Zillow? It’s a great real estate website that gives a close estimate of home value ranges. Go ahead, do a quick search for your property below…
♦Selling With A Realtor…
Now, let’s say that Zillow gives your house a “zestimate” of $175K, with a range of $150-$200k.
If your property is in average condition AND you clean it up really nice inside and out, you can sell it on the retail market for about $175k, right?
If your home is in pristine condition with newly remodeled bathrooms, kitchen, and a new roof, you might sell it for somewhere around $200k.
Finally, if it is in poor condition you might get closer to $150k (if it even sells). Let’s not forget selling fees. When you list with a realtor, you can expect to pay anywhere from 8-12% of the final sales price in fees – seller’s agent fees, buyer’s agent fees, broker fees, title fees, escrow fees, attorney fees (just to name a few).
Net Proceeds From Realtor Sale:
Let’s go ahead and use a nice round number of 10% for our current example. If you sell for $175k, you will actually end up with $157.5k ($175k – 10% or $17.5k). If you sell for $200k, you’ll end up with $180k ($200k – 10% or $20k). If your final sales price is $150k, you will end up with $135k ($150k – 10% or 15k).
♥Selling to Us…
Summit Home Buyers values fairness above all else. We strive to be completely up-front and honest with our clients.
Let’s break it down and compare. When we buy your house, we intend to renovate and make the property pristine. That is how we calculate our After Repair Value (ARV). Using the example above, let’s say that this value is $200k.
To calculate our fair cash offers, we then subtract repair/renovation costs, followed by OUR reselling costs (10% as shown above), followed by our minimum profit (we are a business, after all). Let’s say that your home needs $20k in repairs, and we hope to make $20k in the end… here’s how the offer would look:
OUR FORMULA: (ARV $200K – $20k repairs – $20k resale fees – $20k profits = $140k… your CASH offer)
Just a few things to keep in mind… We can close FAST! It might take months to sell your house on the retail market. Don’t worry about repairing or cleaning up your property when you sell to us, we gotcha covered. We’ll buy your house as-is… no matter how ugly or pretty it is… no matter the location.
No need to keep your home tidy or lock up your pets for multiple viewings – you only need to show your property once! Do the math and see which option is best for you. And please, don’t hesitate to contact us with any questions along the way. We want to help solve your problems!