How Do I Sell My House In NY For Cash?
How it works: Our Cash Offers Are Based On The After Repair Market Value Of Your House! (That’s A Good Thing)
How much cash we offer for your house is obviously a big question you’d like answered. Here on this page, we will explain the entire process, how we buy houses in cash, first through a quick overview, then followed by a more detailed actual breakdown of an offer we have recently made to a homeowner just like you.
We Make The House Selling Process Easy & Seamless
By eliminating banks, and all other financial institutions, with strenuous regulations, approvals, and inspections, we can drastically simplify and speed up the house-buying process.
Here’s How It Works to Sell Your House Fast In NY?
Our Home-Buying Process Is Simple As You Can See Below.
Fill In The Form Below
Once we receive your information, we figure out how much your house would be worth on the current market if it were freshly completely renovated, everything brand new, all fixed up, clean, updated, and beautiful.
Schedule Your Appointment
During the appointment, we figured out how much it would cost us to fix it all up. We now know how much money we would sell it for, and how much it cost us to sell it. Basically, (there is a bit more involved) based on these numbers we present you an offer that is fair.
Pick A Closing Date
If you like the offer, fantastic, we can close on your schedule. You get the cash; we get the deed, and everyone is happy!
Cash For Your House. The Offer Formula.
Let’s Do The Math
Our offers are based on the After Repaired Value of your house. This way we can make the highest fair offers for your house where we can walk away with our profits, and you with the cash you need. Here is a breakdown of how the offer is generated.
[Your Offer] = [After Repair Value] – [Cost Of Repairs] – [Our Selling Costs] – [Our Minimum Profit]
What Does It Mean?
Here’s How We Calculate Our Cash Offers
1) We Determine The After Repairs-Market Value Of Your House.
The After-Repairs Value: (or “ARV”) simply means what your house would be worth if it were completely renovated based on current market standards, just like your favorite HGTV show. Your offer is based on this value.
2) We Calculate The Cost of Repairs
The Cost Of Repairs: is how much it would cost us to renovate the house and make it look spectacular, and ready for the market. Just like it was when you first purchased your new home. Remember the exciting feeling of something new. We obviously strive to increase the value of the house so we can get as much as possible for it. This means a higher offer for you and an acceptable profit for us.
3) We Determine Our Selling Costs
The Selling Cost: includes all the costs associated with selling a property. Although we buy houses from homeowners without involving agents, we, on the other hand, to give you a higher offer, do need to be able to sell the house for top value after we fix it up (this was the whole point of fixing up the property). That means we list it with an agent, which means we have closing costs, agent commissions, and taxes to pay.
4) We Take Out Our Profits
Our Profits: are reasonable. This is a business and without a profit, we wouldn’t be able to stay in business, buy houses, pay our contractors, and plumbers, etc. Rest assured our profits are fair, and this business prioritizes the highest possible offers (otherwise no one would accept our offers in the first place and we’d be out of business!)
Simply put, it all boils down to this simple concept:
How it works made easy…
Your offer will be the market value of your house completely fixed up, minus all the costs associated with us bringing the house to its completely fixed-up condition, minus our profits (of course).
“I couldn’t be happier with the experience I had selling my home to Maya Buys Houses. From start to finish, they exceeded my expectations in every way. I can’t thank Maya Buys Houses enough for their hard work and dedication. They turned what could have been a stressful experience into a successful and enjoyable one. I highly recommend this team to anyone looking to sell their home. They are a true professional in the real estate industry, and true to their word.”
Jessica Matos. Staten Island.
The Win-Win Principle Of Cash Offers Example:
Imagine for a moment that you have a house in complete disrepair, and therefore you can’t sell it for much, (in fact, you probably wouldn’t even be able to list it as banks will not loan against houses in severe disrepair). Although it might be inexpensive, the average person could not and would not buy it.
Now, let’s say that the house in its current condition is worth $420K (so the “as-is” value is $420,000), but let’s say that if you were to put $100K into the house, you would be able to sell it for $640K. (Yes this is actually the same house.)
Sadly you either don’t have the funds or the will, time, or energy to deal with contractors, repairs, and all the stress that comes with it.
Cash buyers like us could come in and offer you $450K for your home, which is $30K MORE than the current value of your house. For us, this works because, if your house is worth $420K, but we offer you $450K for your house and we put in $100K making the house worth $640K, means we then spend $550K and we made $640K netting us a profit (let’s ignore all other costs and taxes for the sake of simplicity) of $90K.
You get more than what your house is currently worth, we make our minimum profit, and everyone walks away happy.
The fine print here is that this situation doesn’t always occur, but that is why you fill in the form, so we can see what options are available to you so you can still walk away with a win (as well as us).
Said differently, You’ll Get The Best Offer Right Here:
As-Is-Value = $420K
After Repair Value (ARV) = $640K
Cost Of Repairs (COR) = $100K
Our Selling Cost = 10% x $640K = $64K
Our Profit For This Purchase = $90K
[Your Offer] = [ARV] – [COR] – [Our Selling Costs] – [Our Minimum Profit]
Your Offer = $640K – $100K – $64K – $40K
Your Offer = $436K
WOW, So that is $16,000 More than what the house is currently worth, and almost $20K more than what you would get if you had listed it with an agent (remember that you would only get $416K after all listing and agent fees). Again, our offers are based on the numbers, not on how badly you are to sell.
Get An Offer Today, Sell In A Matter Of Days
[Your Offer] = [After Repair Value] – [Cost Of Repairs] – [Our Selling Costs] – [Our Minimum Profit]
More About Us
Please visit our About Us page to learn more about what we are all about.
I think we are quite interesting, but you’ll be the judge 🙂