How Do I Sell My House In Tennessee Fast For Cash?

Told You… Easy As

This explains the steps involved, but what exactly goes on behind the scenes?

To sell your home fast for cash in Tennessee, we encourage you to educate yourself before you decide what your best options are.

What follows next is a well thought out, fully detailed explanation on how the entire house buying process works from beginning to end. Please read through this as reading this article will make you the expert on the topic.

How To Sell A House Fast (Just 5 Easy Steps)

Selling your house can be a daunting task, especially when you need it sold fast. By selling your house for cash, you can drastically speed things up. This guide will walk you through the entire process of selling your house for cash to a cash home buyer from start to finish.

Here’s What You’ll Need:

Internet access or a phone

A reliable form of communication like an email address or phone

Computer or a phone

What Is A Cash Home Buyer?

A cash home buyer is any person, company, or entity (usually a real estate investor), capable of buying your house in cash without the need for financial support from banks, lenders, or other 3rd party financial institutions. As the purchaser is providing their own money, they are the final decision makers thus eliminating the need for approvals or inspections from 3rd party institutions, drastically speeding up the transaction. Here are 5 easy steps to get your house in Tennessee sold fast!

1. Find A House Cash Buyer.

The most common method for finding cash home buyers is by doing a Google search for: “We Buy Houses [yourCity] [yourState]“, “Sell My House Fast [yourCity] [yourState], or “Cash For My House In [yourCity] [yourState], and choosing the top ranking results underneath the ads. The ad results often are not reliable or reputable as people simply pay to be on top. They are not on top because they are reputable.(Ads can be recognized by the letters “Ad” preceding the Google listing).

2. Do Your Due Diligence.

Not all cash home buyers are the same. The offer amount and thus the method used to arrive at your offer often differs significantly. For this reason, you should go over their website, visit their “How It Works” page, their “About Us” and/or “Our Company” Page, and make sure there are credible reviews from real actual people that sold their house to them. What you are looking for is transparency, a neat, clean and professional polished website, clear explanations, and professionalism. The website is a direct reflection on them and their business. If a business owner doesn’t take pride in their website they don’t take pride in their business and may not be the wisest choice to do business with.

3. Submit Your Information.

Once you found a reputable house buyer, it is time to get your cash offer started by submitting your information. The information needed from you is 1) a reliable way to contact you (usually a phone number or email address), 2) the address and 3) some details on the current condition of the house and what repairs it needs, if any.

4. Schedule Your Appointment.

Once the information is received, an appointment can be scheduled where you can meet the buyer, and walk through the property together. You can ask them any questions you may have and by the end of the walkthrough your offer is presented and discussed. There should never be any costs associated for these services and the offer is a no obligation to accept offer. Most reputable property buyers understand that this is a critical time in your life and you have a big decision to make so more often than not, they would respect the need to think it over and you should have a cash offer friendly attorney look over the contract.

5. Schedule Your Closing Date. Get Your Cash!

If the offer presented is to your satisfaction, you can set a date for closing. During closing you will get the cash and that’s it. You sold your house for cash to a cash buyer successfully! Usually it is the cash buyer that will pay for all closing costs, making sure the transaction is as attractive as possible for you, the seller.

How We Make Our Offers To Buy Your Tennessee Home

It’s In Our Best Interest To Give You Our Highest Possible Offer.

Our Offers Are Based On Your Home’s “After Repair Market Value”!

How Exactly?

The Offer:

All you math lovers out there, will appreciate this section. We value honesty and transparency. We have no issues sharing with you how exactly we formulate our offers.

[Your Offer] = [After Repair Value] – [Cost Of Repairs] – [Our Selling Costs] – [Our Minimum Profit]

But in order for you to understand this we need to define some terms.

After Repair Value (ARV): This is what the market value of your house will be AFTER we buy and renovate the house. Yup we are just like your favorite HGTV flipping show.

Cost Of Repairs (COR): This is what our cost will be fixing/updating the house AFTER we purchase it from you.

Our Selling Costs:   Although we buy houses without involving agents, we on the other hand, have to use an agent to sell that house again AFTER we have purchased it from you and fixed it up. So we have to pay agent fees, closing costs, taxes, holding costs etc. These are all the fees you do NOT have to pay, if you sell your house directly to us ;). This is usually 10% all together of selling price. (Our Selling Cost = 10% x ARV)

Our Minimum Profit:  Yeah, this IS a business after all, and we wouldn’t be able to stay in business, buy more houses, pay contractors, plumbers etc, if we didn’t make some sort of profit. However, we keep this to an absolute minimum so we can present you with the highest possible offer. See, our business model is structured around making many deals with a little profit per deal, and not a few deals with a huge profit per deal. This benefits all.

English Please!!

So what does this formula mean in plain English? Simply this:

The market value of the house (after we fix it up), minus ALL our costs fixing it up (including our profits), will be the offer. How simple is THAT! Congrats, now you are an expert at this! But want to be sure you understand it?

We would come in, with our contractor and if we can, our agent. (We bring our contractor and our agent to the walkthrough so that our agent tells our contractor what needs to be fixed (as he/she knows what buyers are currently looking for) and what does not need to be fixed (to save on the cost of repairs)).

Our agent: tells us, that we need granite countertops, because the neighbor across the fence that sold his house for $300K, also has granite, as well as hardwood floors, removing wallpaper, installing new appliances, etc.

Our contractor: gives us an accurate COR (Cost Of Repairs).  See, we know exactly what we will do to the house the second we are done with the walk-through and we have already completed the flip in our imagination and we know exactly what all the numbers will look like.

The more accurate these numbers the more accurate (and the higher) your offer will be! Let’s say our contractor gives us a cost of repairs of $70K.

Now We Are Ready To Make You An offer!

Here are the numbers:

As-Is Value = $190K
ARV (After Repair Value) = $300K
COR (Cost Of Repairs) = $70K
Our Selling Cost = 10% x $300K = $30K 
Let’s say Our Minimum Profit For This Purchase = $40K

[Your Offer] =  [ARV] – [COR] – [Our Selling Costs] – [Our Minimum Profit]
Your Offer = $300K – $70K – $30K – $40K = $160K
Your Offer = $160K

Analyzing The Offer

So, the house is worth $190K as is,  meaning if you listed it with an agent you could sell it for $190K. Yet after 6% agent fees and closing costs you would probably get about $174K for it, after it will be on the market for 4? 5? months! And no one can guarantee the house will actually sell.

So now you have to make a decision.

Sell it for a guaranteed sale for $160K in as little as 10-20 days, or a “maybe sale” for $174K hopefully within 4 to 5 months.

~Decisions, decisions…

Why Our Offers Are Better.

Yes we know, we know. Everyone says this. But we will do better. We will show you why this is true, or at least we try to make this true 😉

See, the reason our offers are so fantastic, is because our offers are based on the value of your house as if it were completely fixed up and updated. Yes we figure out how much your house would be worth if it was completely updated.  Then we factor in the cost it would take to fix or update your home.

Secondly,

You see, here is where the cost of repairs comes in. If we can keep the cost of repairs down, we can obviously give you more cash for your TN house, as previously explained using our equation above.

So,… we try to do as much work ourselves so that we do not have to pay expensive contractors to do everything. Well, isn’t that nice of us!

Obviously we can not always do this as we buy sooooooo many houses at a time, but we can genuinely try to keep contractor numbers as low as possible so we can get you the highest number for your house in cash here in Tennessee.

Why do we go out of our way to give you the highest possible offer?

Well, think about it! If we can give you more than our competitors can, you will sell to us.

You can find more info here on how we work our offers!

Here Are A Few Questions We Keep Being Asked:

How Do You Sell A House By Owner (FSBO)?

Selling your house yourself is doable. It takes a lot of work and research but it is absolutely doable.

• First you need a solid understanding of your market.
• Find out how much the house is worth as is. Do not just think your house is worth a lot because you like it! Sellers often think their house is a lot more worth because “it is prettier than my neighbors”.
• Pay for a flat fee to list the property on the MLS.
• Learn how to effectively market the property.
• Learn how to negotiate effectively
• Hold open houses and learn how to handle the tough questions asked during the open house.
• Make sure you know all your laws in your area pertaining to real estate transactions!

Are There Closing Costs When Selling By Owner?

Yes, there will be costs associated if you sell your house yourself. Attorney fees, closing costs, holding costs, title insurance, escrow costs, and more of the house for as long as you own it. As you are selling it yourself however there will not be any agent fees. The other costs however still are significant.

We Are Cash Home Buyers In Tennessee

Middle Tennessee Home Alliance buys houses in Tennessee. We are House Cash Buyers In TN. We eliminate all the encumbrances that come with the traditional way of selling your house. We do not rely on bank approvals; we have our own cash. We buy as is and can close quickly. There are no agent fees or commissions. We are absolutely ready to buy your house right now and can close immediately! It all starts by filling in our form.

We at Middle Tennessee Home Alliance value honesty, integrity and transparency. Therefore, we will guide you during every step of the process. We start by explaining exactly how it works, what to expect and what timeframe we are working with. If you need to sell your house in Tennessee fast, we truly believe we are a great option! Remember, no repairs, no agent fees or commissions and we buy in any condition! Even if you are facing foreclosure we can help stop it. Don’t sit on it, give us a call!