How Our Process Works
How Do I Sell My House In Colorado Fast For Cash?
We Will Offer You Cash For Your House Fast, In Just 3 Easy Steps
You can sell your house quickly for cash if you follow these three simple steps! From start to finish, we’ll handle it all. Sell to I Buy Colorado on terms that work best for YOU, and you won’t have to pay any agent fees; let us buy your property today, at whatever pace is suitable for YOU.
Exactly how does the “we buy houses for cash” process work? Can it seriously be THAT EASY?
We’ll take care of everything! We make it simple and quick to sell your property for cash. There’s no need to do any work other than notify us when you’re ready because that is all our staff does – deal with the details, so sellers like yourself aren’t overwhelmed by anything else in life while they focus on their most important responsibilities such as moving and finding a new home!
That sounds perfect, but I’m still not clear how it works…
If you’ve never sold your property quickly for cash, the process might be a little mysterious, but we have definitely heard the questions before. We describe how our house buying process works and what you may anticipate when working with us below!
How do you figure out an offer price to buy my property?
We make our cash offers based on these four criteria:
After Repair Value “ARV” of the Property
ARV is the value of your house or property after it has been renovated or redone. You arrive at an ARV by calculating local comparable sales that have sold fully renovated in the general area.
Renovation Cost (Cost of Repairs We Will Make)
After we buy a home, we generally have to make repairs and improvements in order to raise its market value and bring it up to code. For instance, the house may need a new roof and gutters, replace the bathroom tile, fix a foundation issue, water damage, and more.
Our Selling Costs
When the house is ready to be sold again, we know that certain expenses will be incurred during the process. Remember, you will never have to pay any commissions or costs when selling your property to us. That being said, we will almost certainly incur some of those expenses, such as taxes, insurance, HOA dues, and so on. So when making our offer, we must take these fees into account.
Our Minimum Profit
Since we’re a company and do this to benefit our staff and families, we must consider profits whenever we acquire a property for cash. However, we want to make it clear that we do our best to keep our profits to a minimum since we want to make sure you get paid as much as possible for your house or property.
I’ve accepted your offer, now what? How long until we close?
Ask any of the “companies that buy houses,” and they’ll tell you that the closing process takes anywhere from 2-4 weeks, depending on your unique situation. Of course, this assumes you want to close right now, but there is always the option of closing at a slower pace if that’s what you’d prefer. We work around your schedule and can complete the transaction when you’re ready.
Once you decide to accept our cash offer for your property, we’ll send the necessary paperwork, including the purchase agreement. After that’s done, one of our specialists will contact you with all of the information you’ll need so there are no snags along the way — this entails a local title company performing a title search. We’ll also arrange for more inspections by our staff. You won’t have to make any repairs, so don’t be concerned! This is only to ensure that we obtain a precise renovation bid after we acquire the property.
Timeframe: 24-72 Hours
Once we complete the inspection, we will have our renovation budget. If the title company finds any title issues or liens, they will reach out to you for any additional information to remedy the problems. After the title work is clear, we can schedule closing!
Timeframe: 1-2 Weeks
After completing Steps 1 and 2, it’s time to schedule the closing and receive your money in cash! We can close the title company or have a mobile notary come to you at a specific date, whichever is best for you. We’ll wire money to your bank account or issue a check from the title company once all of the paperwork is signed. But, again, it’s entirely up to you. It generally happens the same day that you sign the paperwork, although it is possible that it could take one business day in rare cases.
Timeframe: 1-7 days
Why should I sell to you vs list with a realtor?
Great question! Sometimes selling your house with a real estate agent may be the best option. Especially if your home is in excellent condition, has been updated to modern standards, and it’s move-in ready. However, most buyers don’t want to make repairs or update properties, so if your home isn’t updated or in excellent condition, you might want to take a look at working with a home buying company like I Buy Colorado.
*An inspection contingency lets the buyer have time to do an inspection and back out of the sale or negotiate a new price if there are repairs that need to be done. If you can’t come to an agreement with the buyer, the buyer has the right to back out of the sale. Similarly, a financing contingency gives the buyer the wiggle room to back out of the purchase if they can’t obtain a loan or if the home doesn’t appraise for the value that the bank needs to close the loan.
Here at I Buy Colorado, we don’t use bank financing so you don’t have to worry about our ability to close on a deal.