Here’s How Our Process Works…
By eliminating the middle person, (banks, inspectors, agents, etc.) and by simply paying cash we can significantly uncomplicate things. As long as we’re a good fit for each other we can truly make it a seamless process.
You can start by calling us and telling us about your New York property, or you can fill in the form below.
If it meets our buying criteria, we’ll make you an all-cash offer on your home.
We’ll close at a local reputable title company on the date of your choice and that’s it. It really is that simple!
This Explains the Process, but What Else Goes On in the Background?
Selling your house fast in New York can be simple but we encourage you to educate yourself before you ultimately decide what to do.
Reading the following will make you an expert on the topic. We want to be as transparent as possible and the more you know, the easier it’ll be for you to determine if we’re the right choice for you. 🙂
Sell Your House Fast While Getting a Great Offer
So you might be wondering “How do I sell my house fast in NY for cash.” thinking that these New York house buyers will offer you an extremely low number for your house. Most of these companies claim to be fair and might even say they can close in 7 days. Yeah.. Not really!
Trust us, they might not be working in your best interests. Those offers are typically inflated offers to discourage you from speaking to other home buying companies.
Once they sign a contract with you, they will attempt to price drop you days before the closing date and now you’re stuck in a position where you expected to sell so you might’ve started moving, etc. Don’t become a victim of that!
Houses usually take a minimum of 14 days to close in NY depending on the situation. It could sometimes even take a minimum of 30 days. This is why it’s crucial to speak to a local company that has expertise in your market. But enough about doing it the wrong way, let us show you the right way!
Here is How We Buy Houses in New York and Make Offers
It Makes The Most Sense For Us To Give You Our Highest Possible Offer.
It’s very common for house buying companies to try to give you the lowest possible offer to try to make the most amount of money per contract signed. We suppose that’s one way of doing business but to us, it doesn’t make much sense. We spend our money, time, and effort to provide our services to you free of charge. If our offers don’t get accepted then we just spent all that time, money, and effort for no reason.
So…
Prestige Home Buyers stays in business by getting our offers accepted, period. And for us to get our offers accepted they have to be fair. We really do try to give you our best possible offer so we can have a win-win scenario.
Our Offers Are Based On Your Properties ARV aka “After Repair Value”
This simply means that we will calculate what your property is worth after it’s completely fixed up. Based on this, we will determine what we can offer you!
How Exactly?
Let’s imagine that you have a property that you’d like to sell…
Now let’s imagine your neighbor down the block has a house that’s almost identical to yours with the only difference being that they made some upgrades, for example; an updated bathroom, granite countertops, new flooring, and a new roof.
And lastly, imagine the house sold for $400K.
What Does This Mean?
Well, we now know that If we make similar upgrades to your home (after we purchase it of course), we would also be able to sell it for $400K.
We know the Market Value of your house would be $400K if we did the same exact upgrades. We also know what the upgrades are gonna cost and because we now know what repairs or upgrades it needs we know what we can offer you.
Our offers are based on numbers and on what works for us. They’re not based on how desperate you are to sell. And if the offer also works for you, great! We can close and you get your money at closing!
Our Offer:
For all of you that love math, you’ll enjoy this part. We want you to know exactly how we formulate our offers so you are as informed as possible!
[Your Offer] = [After Repair Value] – [Repair Costs] – [Selling Costs] – [Our Minimum Profit]
Now let’s define some terms so you have a better understanding.
After Repair Value (ARV): This Is the market value of your house once it’s fully renovated. After we buy and renovate it, we will be able to sell it for this price.
Repair Costs: This is what it will cost us to renovate/update your property after we purchase it from you.
Selling Costs: These are the costs that we will have to pay once we buy it from you AND when we sell it. These costs include agent fees that we pay when we sell, closing costs, holding costs, taxes, etc. These are all the expenses that you DON’T have to pay if you sell your house to us. This is typically 10% of the selling price. (Our Selling Cost = ARV X 10%)
Our Minimum Profit: This is a business and we wouldn’t be able to pay our contractors, plumbers, electricians and ultimately stay in business if we didn’t make some sort of a profit. However, our offers are very fair because we focus on a high volume of transactions so we can make a smaller profit per deal and still operate. Win-win for all.
Curious about what Prestige Home Buyers could pay for your house? You have nothing to lose by getting an offer from us. Fill in the form below, it’s absolutely free!
