How Do I Sell My House For Cash In Knoxville?
Sell Your House For Cash In 3 Simple Steps!
Fill Out The Form
Get Your Cash Offer
Close And Get Paid
Questions You May Have When Selling Your House For Cash
“How do I know that I am truly getting a fair cash offer for my house?”
Selling your house to us doesn’t mean you sacrifice a fair offer. We want you to be confident that you are being treated with respect and integrity when selling your home. That is why we always use the same cash offer formula when buying property in Knoxville. We always explain and walk through each component of that formula.
“Should I sell my house for cash to you or go through a real estate agent?”
You have several options when you want to sell your house fast. Sometimes, going through an agent can be your best option. When you want to sell your home quickly for cash, you typically call us. We take the headaches and hassle out of house selling, but we still want you to compare your options. Below, we will show you an example of one of our happy homeowners.
“Selling my house for cash definitely seems to good to be true, what is the catch here?”
Absolutely nothing! When you sell your house fast to us, we calculate our offers exactly the same way for each home. Below, we will explain the formula we use and what each component of that formula means! We hate math, so we try to keep it simple. We value honesty and transparency in our business, therefore, we are happy to demonstrate the exact method we use for calculating all of our cash offers.
[After Repair Value] – [Repairs] – [Selling Cost] – [Profit] = Your Offer
” ENGLISH PLEASE!!! What the heck is after repair value? What are selling costs? How much profit are you trying to make here?”
Lets Look At Some Examples Below
- After Repair Value (ARV)
- ARV is what your home would be worth once all repairs have been made. We run comparisons on your house to come to this number. For example, Lets assume Jim lives in your neighborhood and he recently sold his house for $250,000. Jim’s house is similar to yours in size, year built, and floor plan. Jim just recently renovated his home by putting a new roof on, updating the kitchen, bathrooms, new flooring, and fresh paint. We have a good assumption that your house would sell for $250,000 if it was updated like Jim’s.
- This is the total cost it would take to repair your home and bring it to a similar condition to Jim’s.
- Selling Costs
- Selling costs are the costs that we incur while we are remodeling the house and when we sell it. We have to pay taxes, insurance, and utilities while the home is under remodel. When we list the house, we will have advertising costs, as well as commission fees paid to realtors. These are all fees you won’t have to pay when you sell your house fast to us!
- Yes, we do have to make a reasonable profit. We wouldn’t be able to stay in business without it. We have to support our families, as well as the families of our employees and contractors.
- Your Offer
- 100% FREE with NO Obligation.
Lets Look At The Numbers:
After Repair Value = $250,000
Current “As-Is” Market Price = $175,000
Repair Costs = $45,000
Selling Costs = $25,000
Our Minimum Profit For This Deal = $30,000
This is actually the most recent example of our last Knoxville home purchase. Let’s assume you consulted a realtor about selling your home and they stated that your current “as-is” market value is $175,000. Let’s also assume that we know we can sell your house for $250,000 once we get done remodeling. After viewing your property, we estimate that it will cost $45,000 to get your house in the same condition as Jims. Our Selling costs average around 10% of the after repair value (ARV).
[$250,000] – [$45,000] – [$25,000] – [$30,000] = $150,000
Clear As Mud So Far? Lets Recap This Home Sell!
The homeowner consulted us after a listing agent told her she could possibly sell the home as-is for $175,000. This home would not qualify for any FHA loans due to the condition, therefore it shrunk the buying pool. The owner was worried it would take months to sell as a result, and she was needing to move as soon as possible for a new job. We were able to come in and buy her home as is with no fees, and closed within 2 weeks. She was able to receive cash for her house fast instead of waiting around for months. This saved her thousands in mortgage payments, commission fees, utility payments, and taxes!
“Very professional. Definitely a business I can trust. I’d recommend to all my family and friends. Would definitely use again !!!”
– Cody Clower [Harriman, TN]
When you sell your home for cash to us, you eliminate the need to do any repairs! We won’t even ask you to clean! Many homeowners have no desire to take on the emotional and financial stress of remodeling their home. Contractors typically charge homeowners more for repairs than they do a company that gives them consistent business.
In addition, some homeowners are wanting to sell their home as soon as possible versus the long process of completing a renovation or having the home listed for several weeks with no offers. Negotiations for buyer credits, repairs, and many other things can take weeks to resolve. Then, when it is all said and done (45-90 days later), you owe the realtor 6% of the sales price; which is $15,000 on a $250,000 sale. When you want to sell your home stress free, you call us!
“Why Would I Sell My House Fast To You For $150,000 When I Could Sell It With An Agent?”
Lets assume you do sell your house through an agent for $175,000. Most buyers will request some sort of repairs and typically request some closing costs (average of 2%). If this trend held true, you would net the following after selling your house for $175,000.
Sell Price = $175,000
Commissions = $10,500
Closing Credits = $3,500
Misc. Repairs = $2,500
Your Net Amount = $158,500
The question then becomes, “Do I want a guaranteed fast home sale? Or do I want to take a chance and list it on the market?” Keep in mind, while your home sits on the market, you are still paying the mortgage, the utilities, the taxes, the insurance…..you get the point here!
But Wait! What If Repairs were only $25,000?
After Repair Value = $250,000
Repairs = $25,000
Selling Costs = $25,000
Our Minimum Profit = $30,000
Your Cash Offer = $170,000
That is $11,500 more you would receive when selling your house to us compared to listing with an agent after you factor in the fees you would be charged. This is why we always use the same formula and focus on the numbers.
Get Your Cash Offer On Your House Today!
Shipwash Properties buys houses fast in Knoxville and the surrounding counties. Since we pay cash for houses, we can allow you to get your home sold super easy and super fast! We work to give homeowners a better way to sell their house. We refuse to mess around and waste your time when you reach out to us. We are a family owned and operated business that live and work in the same area you do. We place respect, integrity, and honesty at the forefront of all we do. Our business is dependent on your satisfaction and referrals. If you have any questions about selling your house, please feel confident to contact us at 865-240-0955.