HOUSEBUYER CASE STUDY DETAILS
PROBLEM: No time to fix up
SOLD IN: 6 DAYS
RENOVATION COST: $29, 700
RENOVATION TIME: 60 days
This large Fort Wayne house needed a lot of repairs before it could be listed for sale with a Realtor. However, this Fort Wayne homeowner wanted a quick sale and needed money to move. He heard about our “sell house for cash” program from a friend and called me and said:
‘getting top dollar isn’t my biggest concern: getting some money to move is.’
Because the homeowner was working so many hours at his job he did not have time to fix up the house he inherited. Along with the inherited real estate he inherited all the problems and deferred maintenance.
THE TERMS
During our talk said “I need to sell so no reasonable offered refused. Come on over and we’ll talk about it “. After 2100 real estate transactions I know that a ‘reasonable offer’ can mean very different things to different people.
I explained it’s my policy not to visit the house until we have a tentative deal established; then I come out to verify the property condition and write our agreement up. I asked “If I could close by Friday what would you accept?” The price he quoted sounded fair for the amount of work that needed done and I could close on his urgent timeline if we needed to. so I made the trip out to inspect.
CLOSE TO CONDEMNATION
The first sign of trouble was that the gas meter was removed. That means gas has been off for over a year. Winters in Indiana it gets cold enough to freeze water pipes, so how was he heating the house?
Looking around its apparent the gutters were overflowing, the roof is worn out and the bricks were coming loose from the front facade. I also seen a slight lean on two basement walls. I suspected things wouldn’t be much better on the inside. I assumed correct.
The difference between investors and retail buyers is I don’t care what it looks like. Its only wood; nothing a check cant fix
THE INSIDE
The seller had been showing the house to everyone who walked by in hopes of selling without an agents commission. Invariably the females took one look at his man cave and headed for the door. The difference between investors and retail buyers is I don’t care what it looks like because I have a saying: ‘Its only wood; nothing a check cant fix’
The living room wood burning fireplace was outdated and a fire hazard. The walls, ceilings and hardwood floors needed completely redone. And all four bedrooms needed new carpet and ceiling fans. The electric was old knob-n-tube and much of it was exposed. There was a smorgasbord of electric and plumbing materials and fittings much of them rubbing right on top of each other.
Because of the condition of the house, inside and out, Fort Wayne Neighborhood code had already delivered several condemnation notices. To prevent large fines from adding up we had to go to court to file a work order with neighborhood code and keep them advised on the status of our proposed renovation timeline.
SELLER TIP
When you inherit real estate you also inherit the problems, code violations, back taxes and repairs. Sometimes even tenants or squatters. After completing the questionnaire form I can quickly tell you if and how I can relieve you of the headaches that can come with inherit real estate.
THE TIMELINE
Neighborhood code estimated it would take four months to complete everything. They said if we were not 100% completed on time we faced the City of Fort Wayne demolishing the house and sending me the bill for the demolishing and the cleanup. Here are some of the renovation details:
- Replaced three basement walls bowing in
- Tiled shower surround with Spanish marble design
- Laundry area in dark basement was relocated upstairs
- Replaced all the wood windows with high efficiency EnergyStar vinyl windows
- Tore off old shingles from the garage and replaced with new architectural shingles
THE RESULTS
In 60 days we had the house up to code and all of the neighbors were extremely happy with the appearance. That’s because we are a local real estate investment company and we purchase homes every week in all areas and conditions. For 20 years I have specialized in solving real estate problems. My Rapid Home Purchase Program worked great for this seller as it has for hundreds of others.
If you have recently inherited a house or have an urgent timeline and would like to sell quickly just complete our confidential seller form at the bottom of this page and we will be in contact with you shortly.
Have You Recently Inherited A House?
Dealing with inherited homes can be a confusing and emotional time. Often times there are many family members on title or the home is located out of town. It is never good to have a vacant home even in the nicest of neighborhoods. I understand your situation and we are here to help. We specialize in purchasing homes quickly and professionally:
» Have you recently inherited a home?
» Do you need to sell a vacant home?
» Would you like to sell a home to get your equity?
To find out if your house qualifies for our Rapid House Purchase Program, just call or fill out my confidential online Seller Questionnaire as accurately and thoroughly as possible. It’s free and you’re under no obligation. If your house qualifies and you’re flexible on price or terms, we’ll schedule a time to come out and make you an offer to buy your house in one hour or less, Guaranteed!
CONFIDENTIAL SELLER QUESTIONNAIRE
OUR GUARANTEE:
We put our money where our mouth is so you have peace of mind of a timely, professional experience. We guarantee to work in your best interest and get you the best deal possible. Read our full Housebuyer™ Double Guarantee here
