Frequently Asked Questions
Selling your home is a big decision. If you’ve only ever sold a home through a retail transaction, you might have a few questions about how Renewed Homes is different, and just how our process works. To help you out, we’ve put together answers to a few of our most commonly asked questions below.
Where Does My Cash Offer Come From?
Every offer we make is based on calculated market research.
When you contact us about your house, we get the ball rolling by running a comparable market analysis of all similar-sized homes sold in your area in the last 6 months to a year.
We look at each of the selling prices for those comparable houses, and then we compare those prices to your home.
We’ll assess the condition of your home, take into account any necessary repairs or costs associated with your home, and from there, we arrive at our offer.
Renewed Homes is dedicated to making fair, cash offers to all of our clients. Every offer we make is founded on extensive market research, and reflects the value of your home based on the area, its condition, and size.
How is Selling My Home to you Different than Selling to Someone Else?
The Renewed Homes selling process is different from traditional retail sales. We like to think our process is way better and definitely easier! We can close quickly — in 10-15 days in most cases — and we make cash offers.
Here’s how it works:
In a typical retail transaction (one with realtors and inspection agents), a seller ends up paying 10-13 percent of the sales price for closing costs and buyer concessions.
Let’s say you sold your home in a traditional retail transaction for $100,000.
After closing costs, inspections, and any concessions the buyer requests, most sellers will only walk away with a check for $87,000-$90,000. That’s a huge chunk of your money, and it can take months to see any of it, too.
When you sell your home to us, you get exactly what we offer, and you get it quickly.
Renewed Homes handles all of the closing costs, we don’t request inspections, and we don’t ask for concessions. We’ll agree on a price for your home, and that’s the money you’ll get.
Still have questions about our process? Check out our complete selling process here.
How Do I Get Paid?
We start the purchasing process by going through a title company who will get all of the legal paperwork taken care of. When that’s all set, you have the option to receive your money by verified cashiers check or wire transfer direct deposit.
We’re happy to accommodate whichever payment option is best for you, but we always recommend our clients choose the wire transfer. This way, you don’t have to worry about your bank putting a hold on your funds while they process the payment — the money is immediately added to your account, and you can access it same day.
You Said You Can Close in 10-15 Days. Do I Need To Move Out Right Away?
Only if you want to! We understand that it’s not always easy to move on from a family home, and that you might need some time to get your possessions together before you leave.
At Renewed Homes, we pride ourselves on the flexibility we offer our clients, and we’re always happy to work out an arrangement that works best for you. If you need to close quickly, but still need a little time to move out, we can make that happen.
I'm Moving Away/Out of State. Can You Get Me Out of My House Now?
Absolutely! One of the benefits of selling to Renewed Homes is our flexibility. We’re truly here for our clients, and we’ll work to make sure you’re well set up for your next chapter.
If you need to move now, we’ll happily work to accomodate you. We can sign a purchase agreement now and give you an advance on your sale as a good faith deposit. This can help you put a down payment on your next home, or rent the U-Haul you need to move.
Then, we can get you the rest of your money as soon as your home closes, or we can set a closing date that’s convenient for you.
What About All the Stuff in My Garage, Basement, or Attic?
Take what you want, leave what you don’t.
We’ve said it before, and we’ll say it again. At Renewed Homes, we work to create the best possible situation for our clients.
If you’ve inherited a home and just can’t imagine spending weeks cleaning it out, or if your family home is just too much to handle, we’re happy to take care of it for you. You’re free to leave whatever you don’t want behind, and we can handle the cleaning, too.
Selling Your Home
All the information you need to to make the decision that’s best for you and your family when it comes to selling or rehabbing your home.
Cost of Selling Your
a Retail Transaction
Homeowners enter into the retail transaction process because it’s the only option they know. This guide will help you better understand the transaction process.