How Do I Sell My House Fast In Memphis?

Here’s How It Works:

Fill Out The Form

Tell us a little about the house by filling out our form.

We’ll Reach Out

We’ll come out to see the house and go over your all-cash offer.

You Get Paid

You set the closing date and collect your check!

Why Should I Sell My House In Memphis To You Instead Of Listing With An Agent?”

It depends on what’s most important to you. When you sell your home to us, you get paid quickly and never have to make repairs, clean, or pay commissions. If that’s your goal, then request a cash offer now! When you list with an agent, you will most likely have to make repairs, pay commissions and closing costs, and you could be waiting weeks or months for the house to sell. When you list with an agent, however, there is the potential for a higher sale price.

At Restoration Properties, we’re in the business of buying houses. We can’t do that if our offers don’t get accepted! That’s why we have a policy of no lowball offers. We know that for you to accept our offer, it has to be our absolute best offer!

How Do You Come Up With My Cash Offer?”

First we calculate the “After Repair Value” or ARV of your house. This is what your house would sell for if it was completely remodeled. Then we subtract the repair costs, our selling costs, and our minimum profit from the ARV. This gives us our absolute best offer for your house. Keep reading for an example using real numbers!

[Absolute Best Offer] = [After Repair Value] – [Repair Costs] – [Selling Costs] – [Minimum Profit]

Here’s An Example:

Let’s say your house is structurally sound but needs a little work. It’s outdated and could use a good bit of sprucing up. We’ll say for the sake of this example that your house, in its current condition, is worth $80,000. This is the price you could get if you listed it with an agent.

Now we’ll say that other, similar houses in your neighborhood that have been fully remodeled are selling for around $130,000. These are what we call “comparables” or simply, comps. We can assume your house would also sell for $130,000 if we did the same kinds of updates that have been done to those other houses. Therefore, the After Repair Value of your house is $130,000.

Let’s dig deeper…

After we determine the ARV of your house, we do a quick walkthrough with our contractor and find that to get your house to that $130,000 value we would need to put $30,000 worth of renovations into it. $30,000 is our Repair Cost.

We then factor in our Selling Costs. These typically run us about 10% of the ARV. So in this example, our Selling Costs would be $13,000.

Finally, we must factor in our minimum profit. Keep in mind we’re a business! We have to make SOME profit to pay our rehabbers and feed our families. Our minimum profit on a project like this one would be $30,000.

Let’s get out our calculators…

[Absolute Best Offer] = [After Repair Value] – [Repair Costs] – [Selling Costs] – [Minimum Profit]

Your Offer = $130k – $30k – $13k – $30k

Your Offer = $57,000

While at first glance it may seem like a better deal to list with an agent and sell for $80k rather than $57k, keep in mind that you’d likely be paying commissions and closing costs out of that $80k. Your buyer may also end up requesting that you make some repairs to the property – their mortgage lender could even require it! In the end that $80k may turn into much less.

On top of that, you’ll still be paying all your usual house bills while you wait (who knows how long) for your house to sell.

Why wait for your house to sell when you can sell your Memphis house fast to Restoration Properties?

Sell Your Memphis House The Easy Way

Fill out the form below or give us a call at (901) 245-6010 and we’ll get started on your no-obligation cash offer!

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What Happens After You Accept Our Offer? It’s Simple!

The closing attorney will prepare the paperwork.

You’ll get a chance to review the numbers before closing.

You’ll sign at closing and collect your check! It’s that easy!

Choose The Easy Way To Sell Your House Fast In Memphis TN

Restoration Properties offers cash for homes in Memphis and surrounding counties. We buy houses in Shelby County, Fayette County, Tipton County, and DeSoto County. We offer a faster process than selling the traditional way. Because we don’t use bank financing or agents, you never have to make repairs or pay commissions. We’ll buy your house As-Is and handle all the headaches for you. Just fill out our form or call (901) 245-6010 to get your cash offer started! There’s no obligation or pressure to accept.