There is an exciting new option for people who are charged with selling less-than-perfect houses, and a total game changer for anyone with an older home that needs work. RLAH has teamed up with two contractors and a staging company to allow you get professional pre-sale renovations and other preparations. And you can pay for the out of your seller proceeds at settlement.
When you are selling a house for one of your family elders, chances are it’s the “before” version of one of HGTV’s Property Brothers renovations. Typically, it needs paint and repairs, and the kitchen and baths are pretty awful. Then there is the now unchic furniture and personal possessions accumulated of many years that will need to be disposed of. And there may be lingering odors from Marlboros or family pets.
If you are responsible for getting the house sold, the whole process may seem daunting. You hear that homes are selling in the neighborhood in the seven figures, except to get that much money, you have to turn the house into buyer bait. That means getting it emptied out, having it painted with new flooring, and usually putting in a new kitchen and baths. And you might have to spend upwards of $100,000 to get the house ready for prime time.
Most people would prefer to avoid the tasks of sorting out someone else’s stuff. And until now, they would have to come up with a lot of cash to pay contractors up front to prepare the property for the market. Or, they might go the “as is” route.
Until now, there were not that many good options. If you were selling a home needing TLC, you could either come up with the up-front cash to have it cleaned out, painted and floors refinished, pay for a renovation or call one of the companies who advertise that they will pay cash immediately for your less than perfect place.
Here is an example of a home that recently sold in my neighborhood.
- In late 2018, it was sold out of a family trust to a speculator for $800,000. This is pretty typical of the all cash price one would get from a professional flipper in one of the TV ads.
- In April of 2019, a professional restoration company bought it from the flipper for $875,000. It had been cleaned out but still needing a lot of work.
- In February of 2020, they sold it looking like the Property Brothers “after” pictures for $1,399,000. It was well-done with tasteful renovations that were basic builder grade stuff.
So, selling to the flippers who will buy your house, hassle free with no commissions – why, they might even help you get rid of all the stuff – created a $600,000 difference. This is a lot more than a builder grade renovation would cost.
If you’d like more information on the services that RLAH Restorations is making available to our clients, please give me a call (202-549-5167) or email me at email@example.com. It could be a game changer whether you are selling a house that needs a lot of work, or even one that just needs a little paint and staging.
Let me be your easy button!
June 28, 2021