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Most Kernersville rules for buying homes for cash companies, which means they will give you 70% of the home’s post-repair value (ARV) and then deduct its estimated repair costs.
Here is an example of a simplified formula:
(Your ARV x .70) – Repair cost
To see how it works in real-life situations, let’s take a look at an example providing equation. Suppose your Kernersville Colonial Revival can be sold for $355,000 after repairs, but it will take $30,000 to get there.
($355,000 x .70) – $30,000 = $218,500
In this example, our Kernersville, where we buy a home company, may offer your home for about $218,500. However, different types of home buying companies will provide different amounts for the home.
As mentioned earlier, iBuyers tend to pay more than we buy a home company because Ibuyers look for homes in better condition. iBuyer may pay you 90% or more of the market value while charging its services.