How Do I Sell My Spokane House Fast for Cash?
Below are the 3 Easy Steps To Get Your Cash Offer for Your WA House:
Fill out our form or give us a call at:
(509) 530-2088. We’ll research the details of your home and start crafting a great offer for you right away.
We will happily answer any questions you have, as well as go over your no-obligation cash offer. Then you decide if you want to move forward. We present you with a fair cash offer with no obligation and no fees.
You choose the date you want to close and sit back and wait for the cash to get paid out. Get the cash you need now. You do NOT have to wait 6 – 12 months to get your house sold.
Really? It’s that simple?
Chances are you’ve either heard of other companies like ours, or maybe even checked them out. Here’s the biggest difference. Most other companies just want you to get on their website and submit your info. Then behind the scenes, they determine whether they want to even reach back out to you. We do things a bit differently.
We’ve broken down the basics steps of how to get the process started. Many companies claim they will buy your house for cash but never explain how THEY work. So we’ve broken it down (and we mean EVERYTHING) in case you’re wondering….
How does this whole process of paying cash for my house ACTUALLY work? It seems too easy. Glad you asked 👍
By now you’ve probably get a pretty good breakdown of the most important steps involved in the process. The process itself is very easy and very quick, but we’d love to get really granular and would like to break down exactly how each step of the process goes AND answer some questions that we frequently get from other seller’s just like you.
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You probably have a ton of questions like the ones below:
Being as we are here to help people, we like to get to know your situation. Once you give us a call, we’ll ask a couple questions about your situation, and the condition of the property. We like to know how we can best HELP you, and we can only do that when we know what you need.
The basic info we need is the shape the home is in so we can determine repair costs, how soon you want to sell, and how we can be of assistance through the process.
Boy are we glad you asked that. We don’t like to wait around for these things either. Often times we are able to give people a ballpark on our initial phone call and as soon as we can get out to the house to survey the repairs needed we can give you a firm offer in writing. Depending on our schedule this often happens same day.
Definitely not in the way a traditional home sale goes. A traditional home sale will have a certified inspector go through the property and look at EVERYTHING. These are extremely valuable for home buyers – but not for investors. It typically takes us between 20-25 minutes to do a quick walkthrough of the house to prepare our offer.
If we need to get a measurement or quote after an accepted offer we always run that by you – but it’s not super common. We are extremely good at estimating repair costs.
No way Jose (don’t tell our painter we used his name). We will not lowball you for 2 reasons. 1. It goes against our core values that we’re here to serve and help you. 2. Ever heard the quote if you don’t run your business like a business you’ll go out of business? We might be able to flip 2-3 homes a year if we duped some homeowners and lowballed the.
We buy roughly 50 homes a year, we are a volume business. It’s in our best interest, and yours, if we give you a FAIR offer that we all win with. Then we rinse and repeat and help the next home owner.
We aren’t going to pull the wool over your eyes and say we can pay full market value for your home. Nobody can do that and be able to make a profit unfortunately. But we are a lean, efficient and well established business that has a proven method, enabling us to offer higher offers than almost any other similar company.
Are you ready for the secret sauce? The formula everybody always asks us about because they can’t figure out why our offers are consistently higher than our competitors?
After Repair Value (ARV) – this is where it all comes from. With almost everything we do as a company we start with the end in mind. Very similar to when we talk with you about your needs, we find out where you WANT to be, your end goal.
Follow with me for this quick logic trail. We are going to purchase your home for cash, close super quickly and then pour into there with our team of professionals to fix the house up so when we do list it, it sells really quickly (in a perfect world). People like nice, new updated homes – shiny stainless steel and never walked on carpets.
So with the end in mind we now have a really good idea of what this home is going to look like. We then contact our realtor and have him pull comparable sales through the multiple listing service (MLS) and say:
“Hey Billy, we have a 4 bedroom, 3 bathroom, 2800 sq foot home on 1/4 of an acre that will have a new kitchen, new bathrooms, all new paint and flooring, stainless steel appliances, and modern light fixtures as well as some landscaping upgrades and a new garage door with a freshly painted house.”
Billy does his magic and gives me the most accurate listings for homes that recently sold very close by (typically within .5 miles) that match ours as closely as possible.
Now we have a selling price (After Repair Value)!
From there it’s a really simple equation of backing out numbers to determine out fair cash offer. After years of flipping homes, knowing what to expect and how to make sure we all come out ahead this is the formula we have found works for us – allowing us to give you the highest possible cash offer.
ARV (The Home’s Fixed Up Value) – Rehab Budget -Selling Costs – Profit = Our Cash Offer
Let’s define all of these items! Then we’ll give you an example of how this all works and just to show you we truly run by this formula we will break down an actual house we just flipped in a real Case Study!
After Repair Value. This is what the home “should” sell for after we’ve made all the updates and repairs
You guessed it. This is how much the renovation should cost us based off of the repairs we know about.
When we buy the home, you pay no selling costs. Unfortunately we have to. Typical real estate commissions are 6-7%, and closing costs (title and escrow fees) are another 1-2% and excise tax (at least for Washington) is another 1-2%. We average this to 10%.
Yes, you heard right, we wouldn’t be able to help so many people every single month if we didn’t remain in business. Our profit needs to be around 10% of the selling price (ARV). After many, many flips, we have found this to be the sweet spot of being able to offer you the most, while making sure we don’t lose money, but actually turn a profit for our hard work.
Why does profit need to be around 10%? Well as we break down on our offer below you’ll see that things typically go very very wrong. Building a new house is entirely different from remodeling one.
On a perfect job we have a set number we like to make for profit and we end up making that. Too bad not 1 job to date hasn’t thrown us a curve ball. Well….maybe we had 1, but that was it and it was because the home was only a couple years old.
Just like it says. This is how much we can give you for your home on the closing date of your choice. No hidden fees, commissions or anything. This number is exactly how much we pay your for your house.
- Open Title and Escrow
- Conduct any inspections if necessary
- Review Title Reports
- Sign the closing documents – get your cash
Everyone’s situation is different and we like to accommodate the timeline to best serve you. We can absolutely close in 3 days, or we can close in 2 weeks or 2 months. Whatever situation works best for you works best for us.
We have an incredible relationship with multiple title companies in our area and often times are able to “rush” the process if needed due to the volume of business we bring to them.
Ahhhhh scared of committment are you? Just teasing 😃. First off, know that we will be walking you through this process every step of the way. And we have streamlined our proccesses to make this as fast and efficient for both you and us as possible.
After signing the contract our title company will typically request some documents from you so that they can get any payoff information and order title reports to make sure you have the right to sell your property. Once you’ve submitted those documents (typically takes less than 15 minutes) you just sit back and wait for the closing date you selected.
We’ve had customers from start to finish spend less than 1 hour in the entire process. And that’s actually pretty normal. I will say we love getting to know our clients and enjoy building relationships.
Case Study
Mike called us needing to sell fast as he already had another place rented. He had owned this home for years and a family member was living in it and let it get very neglected and there was a ton of deferred maintenance.
We spoke with Mike and made him a fair cash offer, and he requested 30 days to move out. He even left a bunch of items he wanted us to take to the dump for him. And huge shout out! He graciously gave us signed Steelers gear he didn’t want!
Our Goals With The Seller
Mike wanted to get out of paying for two properties and did not have the resources or time to fix up the house. He wanted about a month to pack up everything and get it moved out. He also wanted to leave a lot of stuff behind.
The Full Breakdown
We pulled comps on the home and determined when fully remodeled we should be able to sell around $360k. It would cost us about $36k in commissions and fees to resell the home and we did a walkthrough and estimated about $30k in repairs.
We made Mike an offer for $268k which Mike thought was more than fair given the condition. Our profit goal formula was as followed: $360k (After repair value) – $36k selling cost – $30k in repairs = $26k profit.
Here’s how the story fully unfolded. We ended up holding onto the home for 3 months to rehab the house. We ended up spending $45k on the repairs, we had 2 major appliances break, and the furnace go out in the short 3 months we owned it.
We bought this in September and sold this in January, once finished this still took 2 months to sell. What happened from September to December was incredible.
Because of the extremely tight demand, homes appreciated almost 7% in the 5 months we had this property so when we listed the property we actually got an offer for $385k (we ended up doing about a thousand dollars in requested repairs and providing a home warranty).
Here’s how the final numbers played out. Sale price of $385,000 – $45k in repairs – $38k commissions and closing costs = profit of $34k.
We ended up profiting slightly more than what we anticipated due to the extreme appreciation. Due to almost 10k in unexpected repairs this was a very unexpected blessing.
What’s the difference between selling to us or listing with a Realtor?
This is a question we ask almost everyone who calls. Listing with a Realtor can be a great way to go and sometimes is the best option. We will be totally honest with you and let you know what the price difference will most likely be, on our very first call. Below are some of the biggest differences between selling to The Easy Home Buyer for Cash and listing with and agent.
“I had an opportunity to work with Chad at Home Buyer and it was a very pleasant experience. They were extremely courteous, on time with all their dates and they were a joy to work with.”
James G, Seller from Spokane ⭐⭐⭐⭐⭐“I have been very blessed to work with Chad. He has been extremely helpful in the process of selling my home. I was going to move back to western Washington after my Mom died unexpectedly. He has been there for me every step of the way in this overwhelming process of trying to move with out any help. I recommend him highly.”
So Many People Can’t Be Wrong
You know all about the process now. And any other questions we would be more than happy to answer for you. The only step now is to fill out the form so we can actually get this process started. We promise this will be the easiest, most stress free and fastest way to sell your home. Click the button, 2 weeks from now you’ll be incredibly happy you did.
