Here are the main reasons my past buyers have sold to me and were 100% satisfied with the outcome: As you know, we offer all cash for our properties. By offering cash we eliminate the following:
- Banks! Why are banks’ bad, well in a traditional sense they are not, but when it comes to buying a home some banks require certain things to be repaired before they will lend a dime. Things Banks require to be fixed with traditional financing are things – like roofs, upgrading electrical, air conditioning, plumbing systems, floorings, water heaters, wood rot, foundations…the list goes on and on…Rudolph The Home Buyer does none that! We buy properties as is. NO cleaning, no showings, nothing. We value as is and in the end our prices are comparable to listing with an agent after you take out all the costs you will be charged.
- Selling Agents! Did you know that an agent is going to charge you 6% minimum to list your property and will probably spend less than 10 hours working on your property? So if you have a $50,000 property you will shoveling out nearly 3k to them for putting a lockbox on your door. The Agent will use the EXACT SAME contract we use. No difference! They will close at a title company…THE SAME TITLE company we will close at! So ask yourself, is it worth paying 6% of your money to do something that you can do yourself?
- Buying Agents! The buyer’s agent will most definitely make their clients get an inspection will be the source they use to nickel and dime you down based on things that are wrong with your property. Which in the end can be thousands of dollars if you have issues with your property. In addition, the buyer’s agent will want you to provide a survey (we will not) that is more money out of your pocket going the traditional route. The Buying agent will also demand you pay for some home warranty…more money out of your pocket. The agent will also push for you to pay for the buyers closing costs which can be upwards of $2,500! More money gone out of your pocket – Rudolph never asks for closing costs to be paid by the seller!
- Loss of time! As a cash buyer we can close within 10-15 days and you will have your money in your pocket. You don’t have to clean out the property, remove tenants, fix a roof, hold an open house. Explain to anyone how the holes in the walls or water heater broke! None of that! We value your house and that is it. 15 days later your money is in the bank! You don’t lose anytime!
- Reduced liability! When you sell to a traditional buyer the buyer will require that you tell them EVERYTHING wrong with the property and if you forget to disclosure an issue that they determine was known prior to selling you could be sued in civil court! Well, with Rudolph the Home Buyer we are business and understand the risk of buying a property as-is.
Comparing a Cash offer vs listing with an agent on a 50k house with “issues” like an old roof and foundation issues:
Selling to an RudolphTheHomeBuyer.com
Rudolph shows up and within 24 hrs. values the property at $35,000 based on roof issues and foundation repairs. Rudolph sends you a contract via DocuSign (same program an agent will use) and if you agree the contract is sent to a tile company – you don’t have to do anything….and in 15 days, assuming you own the property outright you walk away with approximately $35,000 (minus any small document fees the title company charges)
Selling with an Agent
The Agent will show up and give you some number (say 65k) they “researched” for the area and tell you they can list the property for max value. Not taking into account the work that must be done. The Agent will show the property, calling you at the most inconvenient times to show the property. After weeks if not months of random people walking through your house you will finally get an offer – it will not be full price unless the property is in high functioning condition. Then the reducing of the price will take hold.
The traditional buyer will offer 55k. Ok, you are saying well that is a lot more than the hypothetical offer you gave us. Well lets go through it line by line.
55,000 offer but the bank says you must repair all the issues within the inspection report. Assuming a roof, foundation, and wood rot that could be upwards of $15,000 – so you now at $40,000…still more than what Rudolph offered. BUT WAIT. They want closing costs and a home warranty included – that is another $3,000
Now you are $37,000 – still higher than Rudolph offer you say….but wait the list continues. Remember, you have to pay that agent all that money for doing so much work….now take out the 6% on $55,000 offer which is $3,300. So now you are at $33,700. AND YOU STILL HAVE TO PAY FOR THE FEES AT TITLE company!
So as my example illustrates – selling with an agent is not the most profitable as they would like you to think. In my example it doesn’t even address the time it takes or liability you can carry!
Now, of course this is only an illustrative example and not reflective of your property but you can see my point. There are cases where it does not make sense to waste time and money putting your property up for sale with an agent!