Some people enjoy remodeling their home and making it their own. Others not so much. In this write up we will cover some of the things that you should do and mostly things you should avoid when planning and executing any remodeling in your home.
But first, if you think you have to remodel your house before selling it - think again. Here at Mandich Property Group we will buy your house in as is condition. Even if you have things you don't want to take with you - it's not a problem. Reach out to us at (770) 756-8680 or visit our website to complete a brief form and we will contact you shortly.
Now - on with some tips on Remodeling your home!
This seems like a no brainer, but is often overlooked. Planning a budget is a must. If you have to go to an outlet store and start getting prices - do it! As investors we can tell you from experience that we almost always run over budget. We do try to stick to it, but in the end we want a product that we are proud of and that a new home owner will enjoy. The last thing you want to do is cut corners at the end of a project just to get it completed, only to not be satisfied with the end result.
Ayn-Monique Klahre from Real Simple goes on to explain even more about the importance of planning a budget:
Since the general rule of thumb is that it’s going to cost more and take longer than you think, make sure you have a big enough cushion in there that you’re not breaking the bank (adding an extra 10 to 20 percent more to the initial estimate is a good start). “If by some miracle you come in under your number, you’ll be happy to have a little extra for decorating!” says DiClerico.
As a general rule, you’ll want to spend more on things you interact with—like cabinets with doors you’ll open and close dozens of times a day—versus things you use less, like decorative tile.
Read The Full Article "The 7 Most Common Home Renovation Mistakes to Avoid"
The last sentence in that snippet is extremely important. If you are doing a kitchen remodel you don't want to spend all of your money on marble tile and granite counter tops only to have to buy cheap appliances because you are out of money.
Just like Clint Eastwood said in the movie Magnum Force - "A man has GOT to know his limitations", the same holds true when it comes to remodeling your home. There have been countless times when we have gone to a property that someone wants to sell and it's very obvious that
In either case we knew that the work would have to be redone.
Donna Boyle Schwartz talks about this in her article from Bob Vila's blog:
Be realistic about your DIY skills. You may be a wizard at painting, and you may even be fairly proficient with Sheetrock and decorative molding, but certain projects are best left to the pros. Indeed, many communities require that plumbing and electrical work be performed by a licensed contractor. The last thing you want to do is take on a project that is beyond your level of expertise and then have to pay a professional to come in and fix your mistakes. Figure out what you can and, more importantly, cannot do yourself before you start a project.
Read The Full Article "The 7 Deadly Sins of Home Remodeling"
It's extremely important to remember that if you are doing any kind of addition you should always hire a licensed contractor for plumbing and electrical work and get the proper permits.
So now you may know that you can't or don't want to do everything in your home remodel. Maybe you just don't have the time, that's totally fine, the last thing you want to do is get in over your head.
When it comes to hiring a contractor do yourself a favor and get quotes from at least 3, more preferably if it's a larger project. Nationwide's Blog (yes, the insurance company) has some great tips on choosing your contractor:
Don’t rush your decision on hiring a contractor. Interview multiple contractors and reach out to their references and previous clients. Make sure each contractor understands what you want. Don’t hesitate to ask them questions about materials, layout and the construction process. Don’t select your contractor based on price alone; compare price quotes and references, and make sure you can work easily with them.
Read The Full Article "The Biggest Home Renovation Mistakes to Avoid"
We would add that you should also research them on the web. Look at their Google listing and check out their reviews. If they have a lot of bad ones - well maybe you should think twice about using them.
Every homeowner (including investors) want the same thing from a contractor, Good, Cheap, Fast work. The problem is that really only two of those at a time is possible. Here is a diagram that helps explain:
For example, if you want good work cheap - then it won't be fast. If you want cheap work fast - then the quality of the work will suffer and if you want high quality work done quickly - you guessed it - it won't be cheap!
This is something else that is commonly overlooked. This can be really important if your storage is small. You don't want your new appliances delivered before they are ready to be installed and you have no place to put them.
Tami Brehse from Business Insider explains more:
Budgeting is an obvious part of the planning process, but many homeowners neglect another important part that requires strategy: workflow. Poor planning here can result in delays and added costs.
"When remodeling, things need to occur in a certain order," Helling said. "For example, you don't want to refinish flooring and then paint."
Paint — or a crew of painters and gear — can easily damage brand new floor coverings, so flooring should almost always be done last in a renovation project.
Another commonly overlooked part of the workflow is cleanup. Will your project require a dumpster? What about a truck to haul away debris? Think through your project from start to finish to ensure you've accounted for all the necessary steps in the process.
Read The Full Article "The 8 biggest mistakes people make when remodeling their homes, according to real estate agents"
Finally here is a quick video from News 5 out of Cleveland that gives some quick pointers:
Remodeling can be a daunting task, but if you plan properly you shouldn't have as much stress and will be able to save some of your hair ;) . Create your budget, check out your contractors and in general - plan properly. Try and have fun and don't yell at your spouse or significant other to much!
Want to learn more about how We Buy Houses? Then check out this article.
Common Mistakes To Avoid When Remodeling Your Home was originally posted on MandichPropertyGroup.com. Learn more at: Mandich Property Group - Sell Your House By Owner Blog
When looking into "We Buy Houses" or "Sell Your House Fast for Cash" companies - Mandich Property Group is your local investment company that will pay you cash for your house. The old fashion way of selling your house using a real estate agent may not be the best way for everyone. Selling your house can be a fast process and gets cash in your hands. When looking for the right investment company for you, make sure you will not have to pay anything out of your pocket and that you will get cash at closing. Contact us today at (770) 756-8680 for a free offer or you can visit our website to fill out a brief form and we will contact you shortly.
Now that that's out of the way - let's get on with it!
So you have probably seen all the signs for we buy houses and often wondered "is it for real?" or "are they really paying cash?". Here is a snippet from another blog that explains it fairly simply;
House Buying companies are in the business of flipping homes, which means that they should have done enough business previously to have enough cash in their account to purchase the home. As with any industry, there will always be scams and people that are looking to take advantage of you. If you’re looking to sell your house fast for cash, it’s important to know which companies are looking out for your best interest and operating ethically. Trustworthy companies use cash that they already have sitting in their account to buy a seller’s home. This cash is often the proceeds from previous properties they’ve flipped.
Read Full Article Here...
No investor will pay top dollar for a property, after all they are in business to make money. While true you will not receive the full retail price for your house, you will not be asked to spend money on anything. No repairs or upgrades will be needed and to most the best benefit is there is no need to clean. The reason the investor is not able to give top dollar is that they will need to put money into the house for those repairs and upgrades. Here is another article by Meghan Riley that shares that information;
You may be surprised to learn that many of these “We Buy Houses” signs are backed by legitimate companies. We can’t attest to their reputations or experience levels, nor can we say that none of them are scammers (hey, people can be awful), but most are authentic. They’re flippers and investors who want to buy houses cheap and make money off fixing them up or holding onto them. The cheapness is often what earns them the “scam” label. However, these companies are not trying to swindle homeowners out of money or perform real estate fraud. If they can’t purchase the home at a certain price, they can’t make the money they need. Sometimes their offer price isn’t high enough to cover a seller’s financial obligations, so the transaction doesn’t occur. Despite the sign’s strong message, calling the phone number does not guarantee a sale.
Read The Full Article...
You have the power and hold all of the cards. One of the safeguards you have is that you will have the choice to except of deny the offer. If you don't like the cash offer you are not obligated to take the offer if you feel it is not fair. An article by Founders Guide shows that information also;
As the owner of the house you have the final choice to sell or not to sell. Once they find a buyer, you will receive an offer and make a single decision. After making the decision, you are free of the home.
Before choosing We Buy house companies find out more about the experience of the company by ensuring that the services they offer have been for long and they have sufficient experience in the industry. This assures you of identifying a company that is reputable. Companies that have been operating for long and with a good reputation can easily be trusted and assist you with your problems. Get in touch with companies such as W Properties under we buy houses Oklahoma and sell your house on your terms.
Read The Full Article...
When selling your house for cash, you have a lot of choices! Mandich Property Group is one of the Best in the industry. Contact us to 770-756-8680 and let us make you an all cash offer today.
If you need to sell your house fast and don't know what to do - check out this post "What You Should Do To Sell Your House Fast"
We Buy Houses, How Does It Work? was originally published to Mandich Property Group. Discover more at: Mandich Property Group - Residential Real Estate Investors
In today's world almost everything we do is designed around speed and ease. Selling a house can now be added into the mix as well. Mandich Property Group is ready to help make this possible for you. Our goal is to make the selling of your home as easy as possible. If you are ready to get a great cash offer for your house call Mandich Property Group at 770-756-8680 or visit our site to complete a brief form and we will contact you soon.
If you are weighing the pros and cons of this method of selling a house here is an article that gives a couple of the pros;
As Is
Before selling on the traditional market, most homeowners will need to do some work to their home. Whether it’s updating rooms that might feel dated to buyers (typically bathrooms and/or kitchens) or repairing damaged items (leaks, electrical or plumbing issues, foundation cracks etc.), a realtor will want the home in tip-top shape to maximize your asking price.
Unfortunately, you often won’t see much return on that investment; you may spend thousands of dollars to update a room, only to see your home sell for under market value. Cash homebuyers, however, aren’t worried about those things. They gladly buy your home as is, saving you money on potentially costly repairs.
If you drive anywhere you will see signs "We Buy Houses" or check your mail and you will see there are so many companies out there now trying to buy houses for cash now. This is a legitimate way to sell a house, you just need to find the right person to buy it. Look into the person or company before you decide to sign to make sure they are a reputable company.
Selling for cash has become a popular route to selling a house. Here is another snippet of an article I found written by PJ Mitchell with some of the cons;
The Money May Not Be Real – If you’re dealing with a known, reputable company, then this isn’t a concern. But if you’re selling to the guy who sent you a postcard in the mail, make sure they have the cash that they are offering. Ask to see a bank statement or a “proof of funds” letter from their bank. In these cases, you may also want to negotiate a lease-back so you don’t have to rush to organize a move. (You may want to read How to Know If That Cash Buyer Is A Scam.)
You definitely want to make sure who you are dealing with is legit! If you don't - it really might be a "Con". Like with what PJ says about postcards, go ahead and look their company up on the web. If you can't find anything on them or negative reviews you might want to choose someone else.
Buying and selling houses for cash might have become popular from being on TV and all of the house flipping shows, however it has caught on and more and more people are doing it. Part of the reason is because selling a house is now almost effortless when sold for cash. This way of buying and selling houses is being done all over the world, not just in the United States. This article written by Tamir Davies from the UK shows that also and exactly what a true cash buyer is;
In this day and age, paying for a house with cash is becoming increasingly popular. Whether you are a buyer or seller, there are a number of reasons as to why cash transactions can be favorable, but it is entirely dependent on your specific needs. Like with anything, when buying or selling a house to a cash buyer, there are pros and cons.
What is a cash buyer?
The meaning of a cash buyer is often misunderstood, with some thinking that they are a cash buyer if they can afford to buy a house without a mortgage once they have sold their current house. This is incorrect; if a buyer doesn’t have the cash readily available at the current time of putting in an offer, they are not cash buyers.
Read The Full Article Here...
Selling your house for cash is a great alternative to selling a property the old fashioned way with an agent and the end buyer having to get a mortgage. The process is much quicker because there is no loan department dragging their feet getting paper work and appraisals completed.
If you are ready to sell, we can start the process today and have cash in your hands in just few days. The process of selling your house doesn't have to be long, drawn out or scary! We have made selling your house for cash process streamlined and fast. There is no longer a need for the sale of your home to drone on and on for months and be a waiting game, nobody has time for that.
Remember when selling your home on your own, or by owner - first impressions are everything. Check out this article that explains more!
Advantages And Disadvantages Of Cash Sales is available on Mandich Property Group. Find more at: Mandich Property Group We Buy Houses Blog
For a few years now housing prices have been steadily climbing higher, especially in the Metro Atlanta area. If your house was immaculate or at least in decent condition, it would sell. Chances are you would have multiple offers on your property. But things look like they are changing.
First things first, if you have a property anywhere in the Metro Atlanta area, we would like the opportunity to make you an offer for it just the way it is. No hassles and a fast easy sale. You can contact us at (770) 756-8680 or visit this page and complete a short form and we will contact you shortly.
Okay - now on to why you are here - to learn what's happening in today's real estate market.
It looks like the days of putting a property on the market and the price getting run up by multiple offers are becoming a thing of the past for sellers. Don't believe us? Check out this from Redfin's Blog about bidding wars by Dana Olsen:
Just 10.4 percent of offers written by Redfin agents on behalf of their homebuying customers faced a bidding war in August, down from more than 42 percent a year earlier. That overtakes last month’s 11.4 percent bidding-war rate as the lowest on record since at least 2011.
The national bidding war rate reached a high of 59 percent in March 2018, then started to drop as homebuyers reached their limit with sky-high housing prices and rising mortgage rates in the middle of last year. As the housing market has cooled slightly, so has competition to purchase homes.
Continue Reading - 10% of Redfin Offers Faced Bidding Wars in August, a New 8-Year Low
We suggest you visit that page and look at the graph that shows the National trend and you will see it hit a peek of around 60% in 2017 nationally and is now down around 10%.
If you watch any news at all you know that we are in the midst of a trade war with China. While we believe this hurts the Chinese more than us, yet it still reeks havoc on the Stock Market. Add to that every other country in the world has a slowing economic market. All of this makes buyers think twice about purchasing a property, especially if they think there is a down turn about to happen. Everybody remembers the housing bubble of '08, it's fresh in their minds. Also there was an inverted yield curve in the month of August, which is usually a good indicator of a recession looming.
Lisa Chamoff wrote about this in a recent post on Forbes:
Homebuyer confidence is dropping, and more than half of current house hunters plan to put their home search on hold until the economy recovers, according to survey data released this week by Realtor.com.
The survey this month by Toluna Research found that more than 36 percent of 755 active home buyers expect the U.S. to go through a recession next year. This is up by about 6 percent when shoppers were asked the same question this past March.
Continue Reading - More Than A Third Of Home Buyers Think A Recession Is Coming
So where does Atlanta's housing market fall in all of this. Inside the perimeter we are seeing some change. We have seen properties listed longer as well as sellers having to slash their asking price.
Michael E. Kanell had this to say about it in the AJC earlier this year:
Yet the number of homes sold during the month was 8.9 percent below that of March 2018 as fewer buyers and sellers found common ground. Home sales volume has been declining for several months in metro Atlanta, including a 7.4 percent drop in February.
Over the years we have always seen inside the perimeter to be effected first, then spread to the surrounding counties.
In all actuality, we don't think so. There were two major factors that really had an effect on the crash of '07-'08.
So what's the take away from this? We do think there will be a correction coming, no market keeps going up for ever. At some time there has to be some sort of correction and prices will probably drop a bit. If the China trade war continues or there is some other global economic catastrophe, it may be a little more severe. However, we aren't trying to paint an all "Doom and Gloom" scenario!
Bottom line, if you have a house that you are thinking of selling, now is the time to do it. This is especially true if you have a house that is a "handy-man special" that needs some repairs or needs major work and you can't afford to make the repairs and need to sell as is.
Even if you house is ready to list with an agent - it's still a good time to sell. Better now than later and have to wait until after any correction because you never know how long that will take.
Here's a short video that goes over a few of the points we covered and will expand more on these thoughts:
Wondering about the differences between IBuyers and We Buy Houses Companies? Check out this post.
Is The Atlanta Housing Market Slowing? was originally seen on MandichPropertyGroup.com. Find more at: Mandich Property Group In GA
Mandich Property Group, a real estate consultant based in Atlanta, Georgia, is pleased to announce that they have published a new blog post explaining the differences between an IBuyer company and a We Buy Houses company, two similar types of companies that people can sell their homes to. Notably, Mandich Property Group purchases homes directly from the owners, cutting out the need for agents and middlemen.
Jennifer Mandich, a representative for Mandich Property Group, says, “There are, of course, some similarities in the way an IBuyer company and a We Buy Houses company operates and, like everything in life, each one has its own advantages and disadvantages. However, if you want to distill it to the most basic point, the biggest difference between the two is probably that an IBuyer company more often than not will want you to make all the necessary repairs to the property before they purchase it. On the other hand, a We Buy Houses company will buy your house as is—which means you don’t have to spend any money on repairs and maintenance."
While both IBuyer companies and We Buy Houses Companies both operate on similar terms, through an online form that allows homeowners to contact the company about selling their homes, there are differences between the two. One of the differences is the fact that IBuyers also charge a 7-10% fee compared to the standard 6% that is usual for agent commissions, whereas a We Buy Houses company does not charge any additional fees and, in most cases, the company will also pay closing costs.
In cases where an IBuyer company is willing to do the repairs themselves, they will require that the cost of the repairs is added to the fees that the seller has to pay the iBuyer when the deal is finalized. This has actually led to a concern in the real estate industry, where a common complaint is that iBuyers often tend to ask for more repairs than are actually necessary—and at a higher cost than is warranted. With We Buy Houses companies, however, this is not a concern as they do not require any extra charges for repairs.
Natasha Mandich, another representative for Mandich Property Group, says, “At Mandich Property Group, we do our absolute best to treat our clients fairly. Selling a house isn’t an easy process, and what we want is to make it as easy as possible on the sellers. To that end, we take care of nearly all fees and extra costs without requiring any additional fees ourselves. We also take care of all the repairs. We also try to offer a fair price, taking into account a various number of factors. Sure, we want to buy your house but, in the end, we just want to make everything easy for everyone. If it turns out that your best option isn’t to sell to us, we’ll let you know and offer alternatives. Mandich Property Group does their best to put the community first.”
The Mandich Property Group’s dedication to the community is backed up by their customer reviews. Sally G. says, “I recently moved houses and have been looking to sell my old one for a while because there was no point in holding on to it. Not in this economy, at any rate. I found the Mandich Property Group when a friend recommended it to me and I contacted them about it. They sent someone to look the place over, offered me a very satisfactory deal, and everything was finalized within a week or so. They are a pleasure to work with, and I can easily recommend them to anyone looking to sell their house.”
Those who wish to learn more about Mandich Property Group can find the necessary information on the company’s website. The website also has a form that enables interested parties to contact Mandich Property Group about selling their house. In addition, the company also maintains a Facebook page through which they frequently post updates, share advice about the real estate industry, and interact with the community. Additional information about the company can also be found here: Company Buys Houses Cash.
These days there are many ways to sell your house in Dallas, however not all are for cash and some are not a fast sell. At Mandich Property Group we can both pay you cash for your house and do it quickly. You can contact us at (770) 756-8680 for a free, no hassle and no obligation offer on your property. If you prefer you can visit our site and complete a brief form and we will contact you shortly.
Selling your home fast for cash is a great possibility, even if you don't choose our company. Just do some research because you want to find a reliable company and get the best price. There are many choices to consider while selling a house. I have found an article by Janene Wilkey that gives a quick break down on your options on the different ways you can sell your house:
Option 1: Hire a Local Real Estate Agent or Broker
Hiring a local real estate agent or broker might be a good option for you if you want to get the best price for your home, you don’t want to do a lot of work, and you can wait 6 months or more to sell.Option 2: Sell Your House Yourself (For Sale By Owner)
Selling your house yourself may be a good option for you if you want to avoid paying commission fees, you don’t mind doing all the work yourself, and you can wait up to 12 months to sell.Option 3: Sell Your House To A Real Estate Investor or Wholesaler
Selling your house to a real estate investor may be a good option if you need to sell your house as quickly as possible (30 days or less), you don’t want to do any repairs or maintenance, and you don’t mind selling at a discount in return for speed and convenience.
That's pretty much it. You basically have 3 options when it comes to selling your home. Using an agent, for sale by owner (also known as FSBO), or use a "we buy houses" company.
Maybe you don't have time to list and wait for a buyer. Maybe you don't want to go through the hassles of trying to sell the property yourself. Well, an investor or we buy houses company might be the answer for you.
Here is short piece of another article that might help you in understanding your options while looking at selling your house. There are multiple types of investors or investment companies that might want to buy your house. The article by Chels Knorr I found will help explain:
As a group, cash buyers by definition are individuals or entities that buy your house outright and all at once, without lender financing.
In general, selling your home to a cash buyer allows you to skip the home prep, showings, and staging hassles and arrange a more flexible closing timeline to coordinate with the purchase of your next residence.
You can finish reading Chels article if you want to know about the different types of investors which are basically investors that will use the property as a rental, an investor that will purchase the house for a fix and flip, and then the new Ibuyers which tend to buy properties that are in better condition.
In today's world knowledge is power, the more you understand the process the less stress you will put yourself through. If you know and understand what is happening and what is coming next you will be doing yourself a favor.
It is commonly thought that you will get a pile of cash at closing. But in all actuality what happens is the money is wired to your account. Some closing attorneys will allow cashier checks, but with the possiblitlty of fraud or fake checks, wire transfers are much safer. Here is an article from Zillow that expands on this and more:
The phrase “all-cash offer” is actually a misnomer. Did you know it’s illegal in the U.S. to close a real estate deal with actual cash?
Instead, an all-cash deal is when someone buys a house outright, without financing. To close, they transfer the funds electronically or with a cashier’s check.
All-cash offers typically come from two types of buyers: individual buyers (who plan to live in the home themselves) purchasing without the help of a bank, and real estate investors, who can also be called iBuyers.
An iBuyer, such as Zillow Offers, will review basic details about your home, send you an offer, and if you accept, you can close quickly, without ever actually having to list your home.
Click here to read the full article...
So yes, you can sell your house for cash and it can be much faster than listing and waiting for a buyer. No having to clean and no open houses. If you want to learn more about selling your house without a real estate agent be sure and check out this article.
The more you know the better prepared you will be to sell your house for cash and do so with the understanding it is not just a scheme. Do your research and reach out to a reputable company like Mandich Property Group, we can help make the process fast and as stress free as selling a house can be. Just give us a call at 770-756-8680 and one of our friendly staff members will be more than happy to answer any questions you may have.
How To Sell Your House Fast For Cash was first published on MandichPropertyGroup.com. Find more on: https://mandichpropertygroup.com
There are some new players in the Real Estate market that suggest they have an easier way to sell your home. These are companies like Knock, Offerpad and Opendoor and a few others. But is it really easier? And what's the difference to a "We Buy Houses" Company?
Before we get into the differences between the two, we would like you to know that if you need to sell a house anywhere in the Atlanta area - please don't hesitate to give us a call at 770-756-8680 for a free, no obligation on your home or visit our site here to complete a brief form and we will contact you shortly. You can also learn more about how We Buy Houses in this post.
Now on to who and what these IBuyer companies do:
Before we get into any of the differences in the two, here is a quick run down on how most of these IBuyer companies work from an article written by Joshua Fraser:
The iBuyer business model is pretty straight forward, a real estate company uses data science and property data, both public and private, to create valuation models that identify home with high investment potential. They can then make an instant offer that provides liquidity to homeowners that doesn’t exist on the traditional real estate market. Typically, iBuyers charge a 7-10% fee compared to a standard 6% agent commission and will offer an 80-100% of the market value for a home. They might charge a higher fee for convenience but many sellers will be willing to pay for the benefit of being able to have a sale finalized within weeks or even days. You may take home a bit less than the traditional method but you can save time and all the headaches that come along with selling or buying a home.
So IBuyers do work a lot like real estate investors, EXCEPT with all most all investors there is no 7-10% fee charged. Now also depending on where your home is located in Atlanta, investors will offer 70-75% of the properties ARV, or After Repair Value. So in all actuality, so far the two different ways of selling a home appear to be pretty close to the same.
But what about repairs? This is where there is a difference in IBuyers And We Buy Houses companies. With investors they will typically buy the house in "as is" condition and deduct the costs of repairs from their offer.
So how about IBuyers? Here is a little snippet from an article written by John Wake:
If the homeowner accepts/signs the “instant” offer, the iBuyer will send out home inspectors and come back with a list of repairs and the estimated costs for the repairs the iBuyer wants done to the house before they will complete the purchase. The seller can make the repairs or the seller can agree to have the cost of the repairs added to the fees the seller will pay to the iBuyer at closing.
A common real estate agent complaint about iBuyers is that iBuyers tend to ask for a lot more repairs and a lot more money for repairs than traditional buyers...
So they might want repairs to be made to the house before they purchase it, and might charge you more. We would suggest that what ever repairs they say need to be made that you also receive a quote from a professional contractor as well to make sure their prices are in line. If you can get them done cheaper yourself, that might be the route to take, but it will take some time for your contractor to complete. Remember with most real estate investors, like us, you can sell your house in "as-is" condition.
So what do some people think about this fairly new way of selling a home? Here is an excellent example just written and released by Andrea Riquier about the Ano family experience in Acworth GA:
Ano, who describes himself as someone who likes to do lots of research — including an exploration of how much he could expect to fetch for his home based on recent comparables — initially reached out on his own to Zillow, Offerpad and Opendoor.
“First of all, they gave us lowball offers,” Ano told MarketWatch. “But that still didn’t solve our problem of where do we move to? We’d essentially be homeless.” He knew that in the ultra-competitive Atlanta market sellers would be unwilling to accept an offer that was contingent on his selling his own home.
Ano received an offer of $248,747 from Offerpad. Several weeks later, citing “recent market activity,” the company sent another offer, unsolicited, of $256,459. Offerpad wanted a 7.5% commission. Opendoor offered $278,300 — less an 11.5% commission. After a Knock agent listed the home, it sold for $297,749. Once Knock’s 6% fee was taken out, and a seller concession of $10,000 was granted during the inspection process, and about $7,000 was spent out of pocket on repairs, the Anos netted about $262,000.
We highly encourage you to read Andrea's full article. It has a lot of good data in it about how the entire process works as well as market data.
First of all no two real estate transactions are the same, nor are the sellers motivation or need to sell. We would suggest that you look at all of your options. Check out an IBuyer company, a "we buy houses" company ( like us :) ) and even a real estate agent. Anyone that you contact should make you a free offer. If they want to charge you - move on to someone else.
What and who will work best for you is going to depend on your individual situation and circumstances. Remember, in the end you have the final say on who and how you choose to sell your house.
The previous Blog Post The Difference Between IBuyers And We Buy Houses Companies was originally published to MandichPropertyGroup.com. Discover more at: Mandich Property Group In GA
Marietta, Georgia based Mandich Property Group (MPG) has announced that they are looking to buy as many as 100 properties a month in and around the Metro Atlanta area. The company buys houses in Atlanta not only for their own portfolio but also for their huge network of investors who are looking for properties locally and nationally.
“Mandich Property Group is actively searching to buy hundreds of properties in Atlanta in as-is condition and in any price range. For this reason, we will look at almost any type of property, regardless of its condition, as long as the selling price is reasonable. We will visit all kinds of properties, including ugly run-down houses as well as pretty houses that don't really need any, or much, work,” says Jennifer Mandich, one of the founders of Mandich Property Group.
She explains that they make a cash offer based on the property’s current market value and condition with no commissions, closing fees, and other hidden charges. She states that they can close a sale in as quickly as one week, while maintaining a priority on making the process of selling a house as painless as possible for the seller. Furthermore, Mandich highlights that unlike other ‘we buy houses companies,’ MPG does not make any offer without examining the property first. Many aspects are taken into consideration so they can give the best offer that will benefit both parties.
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As noted in the company’s most recent blog post, selling a house is challenging under the best of times—and it is even more stressful if the owner is experiencing any financial problems. “We have bought houses from people who have inherited a property from a deceased family member and from those who are facing foreclosure, relocation, divorce, and many other reasons,” Mandich says. The company aims to help homeowners get the cash they need in as few as seven days, while eliminating unnecessary paperwork and red tape. She also stresses that their buying process is designed to put cash in the seller’s hands without the usual waiting game for financial approvals, appraisals, client visits, inspections, and other delay-generating hassles.
Meanwhile, as noted on the company’s website, selling an Atlanta property to Mandich Property Group is a fast and efficient way to directly sell a house without having to worry about buyer mortgage contingency problems. A buyer mortgage contingency is a feature of a contract for the purchase of a home, which states that the home purchase is contingent on the buyer getting a mortgage. When a buyer fails to get home financing, the deal will not push through and home sellers have to start all over again, reliving the cycle of contacting real estate agents, open houses, negotiation on offers, and so on.
Another benefit of directly selling a property to MPG, says Mandich, is that a home seller can save on fees and commissions since the company pays for all the closing costs themselves. “In addition, instead of paying for a real estate agent’s commission, the money will now go to your own pocket. You also no longer have to wait and deal with unreliable real estate agents,” she says. Mandich Property Group is one of the most trusted and established ‘we buy houses’ companies in the greater Atlanta area, and they take pride in offering exceptional customer service from the first point of contact to up to the final follow-up.
“Being a locally-owned and family-run business, we care about our clients and their individual situations. We treat our clients with the respect and dignity that they deserve. In the event that we are not able to close a deal and purchase your property, we will still be more than happy to give you advice and suggestions on the best ways to continue to help sell your property, given your unique requirements,” Mandich says.
Property owners may visit Mandich Property Group’s website to read further on their house buying process. Additional information is also available at the following link: More About How We Buy Houses Works. Homeowners who wish to sell their property quickly may also send an email or call the company’s service hotline to schedule a property viewing and initial evaluation. They may also connect with Mandich Property Group through their official social media pages to stay up to date with their latest news and important announcements.
