So How Does the Cash-Offer Process Actually Work for My Minneapolis House?
Because we can pay cash, we eliminate the go-betweens. We do not need agents, banks, inspectors, appraisers or anyone else to complicate the process. FastPath has eliminated all the red-tape that normally makes selling your Minneapolis house painfully difficult…that is the FastPath Home Buyers Simplicity Promise!
In this video, I introduce how we calculate an offer for your house. At FastPath, we use a formula – and it has nothing to do with your situation. It is all about your property and what we do with it AFTER we buy it. These all factor into the cash offer we present to you.
Sell Your House The Easy Way.→
We understand selling your home is big decision, and that’s why we’ve made it quick and easy to receive a fair offer on your house and close on your timeframe. Take a look at how easy it is to sell your house to FastPath Home Buyers.
We review the details of your home and set an appointment to meet with you, often using video apps!
We walk the property with you. Once viewed, we present a fair cash offer that hopefully works for both of us.
We close on your schedule – you pick the date! We can move as fast or slow as you need.
Remember: No repair work or cleaning required!
Because we buy houses in Minneapolis MN, update them, and finally resell each one, we give offers with the end in mind. FastPath can only stay in business by getting offers accepted!
When FastPath gives you an offer, we base it on the ARV (after repair value) of your house. It is essentially the market value of your house AFTER we buy it and renovate it!
So your offer is built on a value much higher than your house is currently worth.
Learn more in this short video.
Why care what we do with your house AFTER we buy it? It is important because it plays a vital role into how we calculate offers. This video explains the Cost of Repairs that take place after you sell your house to FastPath and the role it plays in the offer equation.
Now that FastPath has owned the house for a while and updated it, it is time to sell the house to the next buyer. While we don’t use agents to buy houses, we do need to use them when we sell. Here is why…
Selling your house on the open market is a lot of work and takes many months. Thankfully, you have FastPath Home Buyers to give you an offer for your house now so you don’t have to deal with all that hassle.
FastPath is a business! And we need to make a profit to pay for so many expenses. We do our best to keep this to a minimum – and we do a great job…because getting offers accepted is the only way stay in business.
Here we put all the numbers together to arrive at a cash offer for your house in the Minneapolis area. We present all the data, go over the meaning and help you understand it.
Should I sell my house in Minneapolis for cash
OR
List it AS-IS with an agent?
If you list your house with an agent, they use the AS-IS value, which is usually lower than the value FastPath uses to develop your offer.
FastPath’s Offer:
$162,000
cash in your pocket*
Listing with an agent
$156,150
cash in your pocket*
Starting Pricing
After Repair Value
$275,000
NA
AS-IS Value
NA
$175,000
Average days to prep and stage home
0 days, $0
10 days, $0
Average number of showings
1 showing (Just Us)
20 showings, $0
Transaction costs
FastPath Cost to Sell After We Buy Your House
$16,500 (6% avg)
$0
Estimated Real Estate Agent Fees
None
$10,500 (6% avg)
Closing Costs
$5,500 (~2%)
$3,500 (~2%)
Seller Concessions**
$0
$2,600 (~1.5%)
Payments Waiting for Buyer
$0
$2,250 (3 payments)
Repairs Needed To Sell Home
$50,000
Negotiated During Inspection Period
FastPath Profit
$41,000
NA
*This does not include paying off your existing loan
**This is an estimated value that might reduce a buyers initial offer
Numbers don’t lie. We operate our Minneapolis MN house buying business using this method for each offer. Nothing goes into the calculation except real world data. FastPath doesn’t base our cash offers off of some percentage of ARV, we do the work and accurately develop a number for each step so you get the highest offer for your home. And, if the repairs come in much lower, our offer would be even higher!