Need to sell your house fast? We buy houses fast in Portsmouth Virginia!!
Are you one of many home owners that own burdensome property? There are many reasons you may need to sell fast. We specialize in helping people just like yourself get rid of unwanted property. We are a local real estate team that understands the needs of local home owners. We are here to make a fair cash deal on your property. Our offer will be solely based on the condition and location of your property. In most cases we fix properties up and then sell them on the market. This means, that we have to buy them at a low enough price to fix them up and sell them for a moderate profit. Our team members take pride in making fair cash offer when We Buy Houses Fast in Portsmouth Virginia.
How do we calculate our cash offer for your house when we buy houses fast in Portsmouth?
Glad you ask!!
Its actually very easy. We simply research the value of your house once its completely renovated. We only focus on the immediate area and we only look at properties that are similar to yours in size, year built and style. It is very important that you only compare apples to apples in today’s real estate market. Once we figure out the value of your home in brand spakin’ new condition then we multiply it by .65 percent which gives us a profit margin of .35 percent. Then we subtract the cost of repairs to get the house in tip top condition. The sum of that equation gives us your cash offer. This simple formula is spelled out below. We Buy Houses Fast in Portsmouth Virginia
ARV (After Repair Value) x .65 (equals .35 profit margin) – Construction Costs = Our Cash Offer
Here is an example below for a property located at 123 Main Street, Big City, Virginia 45321. The house is worth $150,000 once fixed up in great condition, it would costs $40,000.00 to repair. Our offer would look like this ….
$150,000 X .65 – $40,000 = $57,500.00
We also buy Vacant Land in Portsmouth Virginia. We Buy Houses Fast in Portsmouth Virginia We Buy Houses Fast in Portsmouth Virginia