A Home Fixer-Upper Win-Win-Win: MaxSalePrice.com

We’ve all seen the fixer-upper shows on TV, where a homeowner or family wants or needs to sell their house for a certain amount of money…only to be told that, unfortunately, the house’s condition won’t give them a good enough price to move up or accomplish that next housing goal. Some of these homes are easy “fixes”: a little paint, a little cleanup and trim here and there, and both the “curb appeal” and the appeal to a mortgage banker or potential new owner shoots up dramatically.

But some of them need more than a few trips to the hardware store or a couple of rounds of DIY Saturdays. Even “minor” home repairs, when done by pros, can add up to thousands of dollars (http://www.houselogic.com/home-advice/repair-tips/home-repair-costs/). What if you don’t have funding available for all those jobs? It can mean selling the house at a considerably lower figure than you’d like to see. You see these homes out there all the time, being sold “as-is” with no warranties or promises. In fact, according to the National Association of Realtors, some 43 percent of homes actually sell for less than their asking price. You may think that’s just “reality”…but it may not be a reality that you can live with in practical terms.

What to do?

If you’re not pressed for time, you might consider spacing out repairs as you can afford them. But the longer you take to accomplish all the tasks at hand, the longer you’ll need to wait before listing your home for sale. Sometimes, people go ahead and list it even while it’s still “in process”—but that’s a losing proposition on two counts. First of all, a house that’s less than “ready for prime time” takes longer to sell…and second, the longer it’s on the market, the less money you’ll be offered for it. In the meantime, you wait, and wait, for a good offer…and your dream house goes to someone else. Don’t forget Murphy’s Law, either: while you’re fixing one thing, two more are likely to pop up, which can make this kind of fix-as-you-go approach even LESS affordable in the long run.

Finally, consider this: you know your home. You understand its little quirks and work-arounds. But the potential buyer doesn’t want to deal with those things; he or she won’t be willing to overlook that slightly warped floorboard, tired kitchen tile, or leaky faucet. Every little “ding” will subtract value from your house, and most of us can’t effectively evaluate our home’s value to begin with. We don’t have the information that professional real estate agents have about the “comps” in the neighborhood—our direct competition—or about what will make our home stand out as one buyers demand. Once again, then, you could find yourself putting a lot of elbow grease into a home that might still not bring you the return you need.

Is there a better way?

Now, the answer is YES: Max Sale Price.Com, a new way to fix YOUR home and get maximum value out of it…with no worries about credit, cash flow, or robbing Peter to pay Paul. The secret? MaxSalePrice.Com specializes in homes that can be “turned around” within 30 days, typically at a cost of around $10,000 to $50,000. We do it all:

  • Painting
  • Drywall
  • Electrical
  • Flooring
  • Landscaping
  • Paving
  • Cleaning
  • Roofing repair and replacement
  • HVAC repair and replacement
  • New appliances
  • Kitchen, baths, or other updates
  • New plumbing, electrical, and hardware
  • Staging furniture and accessories

All services are done by licensed pros, with your home’s individual needs overseen by a project manager dedicated to YOUR job. This manager takes care of scheduling, coordinating, and timing…so you don’t have to. From start to finish, your job is taken care of RIGHT.

Let’s repeat this, too: all this happens with NO UPFRONT COST to you. MaxSalePrice.com’s pros get your house in great shape to sell for top dollar…and you don’t pay a penny UNTIL it sells. Home repairs are done, your home is staged to sell faster (and for better money!), and you don’t have to deal with any of the headaches: it’s truly a win-win-win, for both you AND your realtor.

Matthew Siegal
Co-Founder and CMO
MaxSalePrice.com

 

DC Area Home Improvement Contractor Helps Distressed Homeowners Avoid Selling “As Is” to House Flippers

Regardless of income or credit, MaxSalePrice.com defers payment for pre-sale home repairs and relocation until your home is sold

BETHESDA, MD – MaxSalePrice.com LLC, a Bethesda, Maryland-based home improvement general contractor, is preparing to launch a unique, game-changing service that will enable struggling homeowners who need to sell their houses to refurbish them now and pay for the work after they sell and collect their proceeds. The service is intended to enable homeowners to their homes at full price rather than selling them “as is” at a discount to bargain hunters or house flippers. Payment for the repairs will be deferred until homes are sold and proceeds collected, without consideration of the customer’s credit score and income. The service will be available to Maryland and Virginia homeowners beginning in September. Other markets will be added nationwide beginning next year.

“Too many homeowners leave tens of thousands of dollars on the table when they sell their homes, simply because they can’t afford to fix them up and properly stage them,” said Matt Siegal, co-founder and CMO of MaxSalePrice.com.  “By letting our customers pay us for repairs after they sell their homes, MaxSalePrice.com saves them from selling “as is” and watching a bargain hunter or flipper walk away with the equity they’ve worked years to build.”

Most unusual about the MaxSalePrice.com business model is its financing terms. MSP offers 100% financing with no payment due until settlement regardless of the customer’s income or credit score.

“Homeowners with significant potential equity shouldn’t have to sell at a discount just because they don’t have cash, available credit, or an income. Our view is that they do have money to pay for repairs, they just can’t get to it until they sell,” Matt Siegal added. “Once we refurbish their home and they sell it for its true worth, they’ll be able to pay for the repairs and have money left over to get back on their feet.”

MaxSalePrice.com, as general contractor and project manager, hires carefully vetted local subcontractors from its preferred vendor network to get its customers’ homes in shape to sell quickly at full price based on their realtor’s recommendations. Painting, electrical, HVAC, updated bathroom ─ whatever it takes. If requested, the company also arranges temporary furnished housing while repairs are made. All costs are deferred until settlement regardless of the client’s income and credit score.

The company’s website, www.MaxSalePrice.com, has a Fix vs. Selling As Is Comparison Calculator that estimates the amount of proceeds sellers will have if they fix before they sell. The difference between the two options can be tens of thousands of dollars.

“What makes our business model unique is that we assess credit risk based not on the customer’s current ability to pay for our services but rather on what we believe his ability to pay will be after we’ve restored his home and he’s sold it for its full potential worth,” added Matt Siegal.

Although no cash, income, or minimum credit score are required, the company does have certain requirements for accepting projects. For example, it doesn’t accept “sale by owner” projects. Sellers must have an active listing agreement with a licensed real estate agent before their projects will be accepted.

More information is available at MaxSalePrice.com or 844-944-2629.

A Better Alternative to “We Buy Houses for Cash!”

“WE BUY HOUSES FOR CASH!”

You’ve seen the signs all over the place. They’re on billboards, Internet ad sites, and even telephone poles. Buying houses and flipping them is a multi-billion-dollar industry, run mainly by small groups of private investors operating in local markets. Quoted in the Washington Times in 2011, one of these investors explains:

“We can be a real advantage to folks who don’t want to wait or don’t have the money or time to spend on repairs,” says Brad Chandler, CEO of Express Homebuyers, a Washington-based company formed in 2002. A bit of research online will reveal bunches of these services all over the country, with a plethora of reviews, recommendations, and feedback that can be useful when you’re considering this.

Of course, there’s one case in which getting cash “on the barrel” is a terrific option: if your plans include options or plans such as a once-in-a-lifetime opportunity elsewhere, a cash-for-your-house deal gives you resources and helps you “cut ties” with minimal fuss. And many folks also see this market as its own opportunity: several “gurus” in the business recruit entrepreneurial types to join their investor teams with the enticement of building a business “without risking any of your own money.”

But guess who (all too often) takes the risk instead?

Due to no fault of your own, you may find yourself in the unenviable position of being in a home you can’t afford to keep and can’t afford to repair. In this case, quick cash can be a tempting “release valve” for the pressure you’re under; especially if you’re facing foreclosure, you may see it as your only option. Truthfully, for many years, the “cash for your (distressed) home” option was just that.

But THAT’S NOT THE CASE ANYMORE.

Now, there’s a better way: MaxSalePrice.com.

Let’s face it: real estate investors aren’t in the business to be knights in shining armor, riding in on white steeds to save your day. They’re businesspeople, and their business is “turning over” real estate. Which means a few things:

  1. They’re not going to offer top dollar for your home.
  2. They’re not going to put YOUR interests first.
  3. Their product is failure: ours is success.

 So let’s talk about how each of these affects your situation.

 Sale Price vs. Your Home’s Equity

While cash in your pocket and/or a payoff of your mortgage may be a large weight off your mind, what many homeowners find, to their dismay, is that a cash-for-homes sale turns into a large weight off their wallets! According to Bankrate.com, the typical cash-for-your-home deal offers considerably less than your home is worth, averaging about 65 cents on the dollar. Cash-for-houses investors don’t care about the equity already in the house, except in terms of being a “ballpark” for their offer.

In other words, if you tell an investor you owe $75K on the house, don’t be surprised if that’s the sale price they propose. You get the “monkey off your back,” maybe…but you leave the house with nothing. They’re not being “mean”; in their eyes, you’re a “beggar” who can’t be a “chooser.”

There’s some truth to this assumption, unfortunately. If you’re trying merely to escape an untenable situation, any money may seem better than none at all; and, until MaxSalePrice.com was born, it may have been a choice of the “rock” or the “hard place.” Fortunately, now you don’t have to settle for less than your home is worth—even if it’s a little cosmetically challenged!—in order to salvage your good name, credit rating, and ability to get into better housing in the future.

MaxSalePrice.com is a for-profit concern…so in that sense, it can sound much like the independent investor dangling cash in front of your eyes. But the surface is where the similarities end. Unlike professional “flippers,” our object isn’t to “buy low and sell high.” In fact, we don’t buy houses at all. Instead, we help YOU to sell, quickly, and for top dollar.

Our mission is helping you keep the maximum possible return from the sale of your home, regardless of how dire your present financial situation may be. We don’t think you’re a “beggar,” and that’s why we give you a better choice.

And Speaking of Equity…

That brings us to our second point about cash-for-your-home setups: usually, the investors will take your house off your hands for 60 to 70 percent of its potential value—or less, depending on the state of the market. But then, they’ll flip it to another investor or owner-occupant for 80 to 85 percent of its value—or more. If this sounds like a bad deal to you, your instincts are correct!

Also, plainly put, your distressed circumstances aren’t sufficient excuse to remove your liability with your mortgage holder or bank. If you get less than 60 percent of your home’s value, you could still be left paying what remains of the mortgage, while at the same time no longer having a place to live.Talk about a “lose-lose”!

…Which Is the Heart of the Matter.

Bottom line? It may seem paradoxical, but the size of the cash-for-houses industry is a clear affirmation of our business plan. The difference is we’re doing it better for YOU. Instead of the shame of having a “flipper” take over your home, MaxSalePrice.com enables you to keep your dignity. Cash-for-house deals need failure in order to thrive; on the other hand, our process enables BOTH parties in the equation to succeed. We believe that we’ve found a better way—one that reaches out a helping hand rather than grasping at a bargain for its own sake.

Give us a call…and relax. With MaxSalePrice.com, your brighter future starts NOW.

Matt Siegal
Co-Founder and Chief Marketing Officer
MaxSalePrice.com

Fix My House Now and Pay When I Sell It?

It’s a dilemma that every residential real estate agent encounters regularly. A new client hires her with instructions to sell his home as quickly as possible. His need for speed is often driven by the fear of foreclosure or forfeiture because he can’t keep up with mortgage payments or property taxes. Or, he needs cash fast for unexpected medical bills, college costs, or a business opportunity.

The agent makes an on-site assessment of the property to determine what needs to be done to get the highest price in the shortest time. As she tours the home, she takes notes:

  • “The popcorn ceiling in the dining room has to go.”
  • “The water damage to the hardwood floors will knock $5,000 off the price.”
  • “The asbestos tile in the basement is beginning to crack. That’s a non-starter.”
  • “The refrigerator is more than 15 years old. Needs to be replaced.”

After completing her inspection, she meets with her client to discuss a strategy. Among the topics they discuss is an appropriate asking price. The client paid $610,000 fifteen years ago. His mortgage balance is $345,000. He has a tax lien of $16,000.

The agent says that the good news is that homes in that subdivision are selling briskly. The average time on market was 36 days for three comparables that recently sold for around $780,000. The client does some quick math in his head and is delighted. After fees, he should walk away with nearly 400 grand in a few months!

Then, the agent brings up the matter of repairs, updates, and staging. She says that the work she feels is necessary is minor and shouldn’t take more than a few weeks. We just need to redo that ceiling, refinish the floors, and replace the ancient appliances. Paint the place inside and out. Oh, and above all, we need to get that asbestos tiling out of there.

Before the homeowner can respond, the agent also mentions that he needs to have a pre-sale home inspection done to find out if there are any hidden problems. When the client asks if that’s really necessary, she assures him that it will be $500 or so well spent because it’s always better to know in advance about any problems that prospective buyers will surely discover, and fix them first.

The homeowner asks the agent what she thinks all that will cost. She tells him not to worry, it should be no more than $15,000, a bargain in light of what it will add to the value of the house.

Fifteen grand? The homeowner tells the agent that things are really tight right now. Business has been slow for some time and he doesn’t have cash to fix up the house. The agent suggests a home equity loan. The client brings up the tax lien and the delinquent mortgage payments.

The agent shifts gears. She’s been in this situation countless times before. She tells her client that the home will most likely have to be offered on an “as is” basis, without warranties or contingencies. In other words, the buyer must agree to assume all liability for any and all damage, whether known or unknown, as a condition of sale. Of course, this will lower the price and probably significantly prolong the time on market.

“Lower it by how much?” asks the client. “Prolong by how long?”

The agent says it’s always difficult to guess the outcome of such a listing. She estimates that they’ll probably receive offers in the $700,000 to $720,000 range. As for time on market, who knows? Probably several months, maybe more. That asbestos tile is a real red flag. It’s possible that they won’t get any offers at all.

The scenario I’ve laid out is not unusual. It happens thousands of times a day throughout the country. Collectively, homeowners forego billions of dollars in potential proceeds because they have no choice but to sell their homes for less than their true worth. Real estate agents lose millions.

MaxSalePrice.com was created to eliminate this problem. We work closely with homeowners to get their homes ready to sell fast and sell high based on their real estate agent’s recommendations. There’s no income or credit score requirement, no finance charges, and no money required up front. We wait for payment until the house is sold.

But we do more. We also assign a dedicated project manager to each job. The PM selects and supervises all subcontractors, relieving the homeowner from the burden of having to deal with multiple vendors.

We’re excited to have the opportunity to help homeowners who have no other way to get the most value from their most important asset. MaxSalePrice.com has arrived!

Matthew Siegal
Co-Founder and CMO
MaxSalePrice.com LLC