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Cash in hand in as little as 7 days!
How We Make Our Cash Offer For Your House in Detroit :
All you math lovers out there, will appreciate this section. We value honesty and transparency. We have no issues sharing with you how exactly we formulate our offers. ARE YOU READY?
[Your Offer] = [After Repair Value] – [Cost Of Repairs] – [Our Selling Costs] – [Our Minimum Profit]
In order for you to ACTUALLY understand this we need to define some terms.
After Repair Value (ARV)
This is what the market value of your house will be AFTER we buy and renovate the house. Yup we are just like your favorite HGTV flipping show.
Cost Of Repairs (COR)
This is what our cost will be fixing/updating the house AFTER we purchase it from you.
Our Selling Costs
We have to pay agent fees, closing costs, taxes, holding costs etc. These are all the fees you do NOT have to pay, if you sell your house directly to us ;). This is usually 10% all together of selling price. (Our Selling Cost = 10% x ARV)
Our Minimum Profit
Yeah, this is a business after all, and we wouldn’t be able to stay in business, buy more houses, pay contractors, plumbers etc, if we didn’t make some sort of profit.
So what does this formula mean in plain English? Simply this:
The market value of the house (after we fix it up), minus ALL our costs fixing it up (including our profits), will be the offer. How simple is THAT! Congrats, now you are an expert at this! But – do you want to be sure you understand it?
The Actual Math:
HERE IS AN ACTUAL EXAMPLE using the formula above. This is how we bought the house in the pictures above AND BELOW
[260,000] – [60,000] – [26,000] – [$50,000] =
If you mathed right, you will see we actually made slightly more than our minimum profit on this flip. If we’re investing $200,000, there has to be enough “meat on the bone” in order for the deal to “make sense”. Would you spend $200,000 and 3-6 months time on a project if it didn’t pay a sizable profit? Neither would we!
Sell Your House As-Is
That’s great! Most of our homeowners come to us because they want to sell their houses as is. It’s really better for us when we buy homes in Detroit that need work, since we rely on fixing up the house to make money!
Sell your house to Wise Property Buyers! You never have to get the house ready to sell or even clean up. We want to buy your house as-is.
See what we can offer you for your house…
Get An Offer Today, Sell Your House In A
Matter Of Days…
Wise Property Buyers is a Michigan Company, owned by Michiganders. We’re a couple of local guys who love real estate. We came together to have fun and help people. Our offers don’t work for everyone – but hundreds of homeowners just like you have put their trust in us. When you sell to us, you’ll gain convenience and speed, but more importantly, you’ll get peace of mind. That’s priceless.