Investing in real estate with cash is a smart way to buy but it’s not easy to know how to make an offer. If you’re wondering how to formulate an offer for a house “when buying with cash in Dallas,” keep reading to learn more and to see how we do it at We Buy Houses Cash Dallas.
Selling your home can be and is very stressful for many home owners who have never sold a home before. We will share with you how it works when buying with cash in Dallas. Many homeowners want to sell they’re house fast with the highest price possible. We make easy for you to sell your house fast in Dallas. Any professional house buyer can offer cash, but can they also offer you a Seller Finance program, or Lease Option program. Then there is the Short Sale when trying to salvage your credit when going through a foreclosure.
We can help you with all that, and still get you closed in five days if needed, or you can choose the closing date that best fits your needs.
You’ve Got A Property In Mind… Now What?
If you are looking for a real estate deal to acquire for cash and now you’re wondering how to formulate the offer, you’ll love these 3 strategies that many investors use daily to acquire deals when buying with cash in Dallas. Or use one the strategies herein below. Be aware that they may take some practice… and they won’t work for every seller you meet so test them out a few times to perfect your ability to use them. Once you perfect them, you can use this as a system over and over to quickly and easily make offers.
Keep in mind, that when buying with cash in Dallas, you can’t go wrong. At We Buy Houses Cash Dallas, we ow that cash is king in all transactions, but we also use the other strategies explained below.
#1. Market Price Less A Percentage
The first way to formulate an offer for a house when buying with cash in Dallas, is to find out what the market price is for the property and then subtract a percentage. You can get the market price by pulling “sold comps” (finding out what similar properties have sold for recently in the area). Keep in mind that there are a couple of different types of sold comps to consider. Houses sold recently that have been remodeled, and those houses that are newly build. Though not all areas of town will have newly built houses. You cannot compare newly built houses to a remodeled house. Or vice a versa.
You can sometimes get this information yourself but if you partner with a real estate agent they can do it for you. Sold Comps will tell you how much other similar properties have sold for recently and then you can subtract a percentage to formulate your offer.
For example, you can offer market price less 20%. So a $100,000 sold comp would mean that you’d offer $80,000 for the property. When buying with cash in Dallas, you have power over others who don ot have the cash to buy fast.
#2. Profit Plus
The second way to formulate an offer for a house when buying with cash in Dallas, is to work the other way (and to factor in what you can sell the property for). In other words, figure out how much you want to make and then add your costs. That way, you build in profit into the deal. However, this way can be challenging if you don’t know how to accurately estimate your costs, so make sure you build a good relationship with a contractor who can help you.
For example, if you want to make $15,000 on the property and you know that the property will cost $25,000 to repair then you might offer $30,000 to the seller but plan to sell it for $45,000. Using this strategy helps you think ahead to consider what you can get for the property and whether you’ll be able to make a profit. All investors need to learn in they’re learning curve when buying with cash in Dallas.
#3. Seller Financing
No discussion about how to formulate an offer for a house when buying with cash in Dallas, would be complete without talking about seller financing. The first two strategies have highlighted a single sum that you would pay the seller but when you factor in seller financing into the mix, it changes everything: with seller financing, you might pay some cash and then have the seller carry the note for the remainder. This can adjust your profit point and how much you can pay for each deal. We love seller finance in our business, but there is still nothing like it when buying with cash in Dallas.
Alternatively, you can bypass all the work and effort of formulating offers and making deals with sellers and instead to buy a property from us. We sell attractively-priced investments and have done all the hard work for you! So when buying with cash in Dallas, works best, is when we have already made all rehab and we can still sell the house at a discount. We do this often as we buy right.
To see our inventory of available real estate investments, click here to visit our website, and enter your info or pick up the phone and call (214) 723-1304.
