Once we have your information and get in to local cash buyers and investor, you will have offers in 1-3 days, depending on scheduling. Once you except an offer, typically you will close in 30 days. (Start the process today)
Buyers make money on the difference between what they purchase a property for and what they can sell it for. This is call the ARV(link), after repair value. They will look at recent homes that have sold like yours, called comparables (‘comps’ for short) to find a likely price that your fixed up, ready for market home will sell for. Then they will calulate the repair costs to get it market ready. They will work backwards to find a competitive offer to provide you and still make a profit. You can read more about this (here). The simple rule is called the 70% rule (link). In short, it means that an investor should pay 70 percent of the ARV of a property minus the repairs needed.
To use simple math, if a property’s ARV is $100,000, and it needs $25,000 in repairs, then the 70% Rule suggests that the most an investor should pay for it is $45,000: $100,000 times 70% = $70,000, minus $25,000 = $45,000 Example: If the property fixed will sell for 100k, repairs will cost 25k, then 70% rules states 100k times .7 = 70k, then 70k-25k (repairs) = 45k. In that scenario, the offer would be $45,000. You can learn more about this here. There is a table here and a calculator here. Yes, that was long-winded, but everyone wants to know how much to expect of course. If you have any outstanding questions about this, please contact us here.