Enjoy our series of guides designed to help you become a real estate expert.

Enjoy our  series of guides designed to help you become a real estate expert.

Real Estate Guides - OfferMarket

Real Estate Guides

Learn why selling a house in AS IS condition makes financial sense. The key to selling your home fast in as-is condition is transparency and setting clear expectations. This guide will show you how to sell your house AS IS.

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Selling A House As Is - OfferMarket

### What does AS IS condition mean?

 

AS IS (or "as-is") condition means the seller of a home will not be making any repairs. As the buyer, what you see is what you get and the listing is priced accordingly. In this guide we will share best practices for selling your home as-is.

 

Selling a house as is, even when it needs major repairs, is often the smartest way to sell your house because of the trade offs of time, money and stress. There are many reasons to sell your home in as-is condition. Let's start with the reasons why selling as is can be in your best interest.

 

### Why sell my house as-is?

 

#### 1. Timing

If you need to sell fast, you don't have time to repair the house. Maybe you're moving or you need to sell fast for cash to pay for unexpected expenses. Certain renovations can take weeks or months to complete. Once you've finally completed the repairs, the selling season my be over.

 

Another thing to consider is how do you price your listing? If you're spending money repairing your home, you will want to increase your list price to offset your [rehab](https://offermarket.us/real-estate-glossary/rehab) costs. The problem is that repaired houses are priced higher and can sit on the market for longer. This is especially true if your repairs were not completed cost effectively. If your home was worth $200,000 and you spent $25,000 on repairs, will your home be worth $225,000, $250,000, or only $210,000? That all depends on how selectively and cost effectively you were able to conduct your renovation.

 

#### 2. Money
 
If you don't have the money laying around to conduct even minor repairs to your house before your sell it, you are not alone. Tying money up in your house might not be the best use of your funds right now. Perhaps you have bills to pay, unexpected expenses, employment or lifestyle changes. As we discussed above, unless you are able to identify and negotiate the most cost effective repairs, there's a good chance that investing more money into your house is not going to produce the returns on that investment needed to justify it in the first place. 

 

#### 3. Hassle

Selling your house the traditional way -- fixing it up, cleaning it out, staging it with furniture, listing it with an agent -- takes more than time and money. It takes a lot of patience, negotiation, dealing with vendors, mistakes and re-scheduling. 

 

### Best practices for selling AS IS:

 

The key to selling a house AS IS is transparency, clear expectations and a few simple chores.

 

#### 1. Transparency

Your listing should make is clear the property is offered in AS IS condition. We recommend "This property is offered AS IS, the seller will not be making any repairs or providing any post-inspection concessions." You should disclose as much as possible about the property and its known defects. Some as-is sellers go so far as to pay for a home inspection. This is not necessary, OfferMarket transaction data shows it's better to encourage interested buyers to bring a [contractor](https://offermarket.us/real-estate-glossary/general-contractor) to the showing and/or hire a structural engineer or home inspector to inspect the property before submitting an offer. 

 

#### 2. Expectations

Building on the concept of transparency in an as-is home sale, it is important to set and reinforce clear expectations that you will not be conducting any repairs. This will avoid situations where the buyer is surprised, becomes frustrated and walks away from the transaction.

 

#### 3. Increase the value of your house before selling with these simple chores

 

1. **Professional landscaping:** give your house a proverbial haircut (cost: $250 - $500)
2. **Power wash the exterior:** get rid of grime on the siding, exterior trim, deck, fence (cost: $200 - $500)
3. **Clear out and de-clutter:** throw out junk and organize (cost: Free)
4. **Deep clean the interior:** hire a cleaning service to professionally clean (cost: $150)
5. **Professional photography:** get a pro to take 25 high resolution photos that can be touched up (cost: $150)
6. **Paint the exterior:** look for areas of the exterior like doors and trim that may seem worn (cost: $50 - $200)
7. **Make the house smell nice:** there's a saying among real estate investors that a foul smelling house "smells like money" because many home buyers will run away from houses with foul odors (cost: $25 - $100)
8. **Replace lightbulbs:** brighten up the interior and exterior and make it easy for home buyers to see what they're working with (cost: $50)

 

Pick and choose what makes sense for your house, you don't need to do everything on the list. For more on this, read our guide: [How To Increase Home Value Before Selling](https://www.offermarket.us/guides/how-to-increase-home-value-before-selling)

 

### How does as-is compare?

 

| Comparison 	| As Is 	| Traditional 	|
|:----------------------:	|:---------------:	|:---------------:	|
| Listing price point 	| More attractive 	| Less attractive 	|
| Cost (% of home value) 	| 0% 	| 1% - 10%+ 	|
| Time to sell 	| Fast 	| Slow 	|
| Hassle 	| Low 	| High 	|

 

### Sell AS IS with OfferMarket.

OfferMarket is an AS IS real estate marketplace. We believe you should be able to sell your home AS IS and receive competitive offers. Our streamlined transaction flow and proprietary listing distribution technology targets thousands of qualified buyers and makes them compete for your home. 

 

### How it works:

 

**1. Create your free listing** 
Set your terms, 100% risk free with no obligations.

 

**2. Launch your AS IS listing on OfferMarket and make buyers compete.** 
Once we have a critical mass of interested and pre-qualified buyers (typically within 2 weeks), we coordinate a Safe Showing. You will typically receive multiple competitive offers within 24 hours of your Safe Showing.

 

**3. Review offers: accept or reject** 
If you accept an offer, we send our contract to you and the buyer and introduce you to our title company for closing.

 

**4. Close your sale** 
Buyers on OfferMarket are carefully qualified and expected to close within 30 days of offer acceptance.

 

Should you sell your house as-is? [**Create your free listing**](https://www.offermarket.us/sell) and get risk free offers.

Selling A House As Is

Should you sell your rental property? Read this guide to determine if selling your tenant-occupied or vacant rental property is the right decision.

Should I sell my rental property? - OfferMarket

## Selling a rental property: things to consider before selling

 

Rental properties are often a great long term investment, so the decision to sell should not be taken lightly. There are a few important things to consider before selling your rental property. 

 

### How is your rental property performing?

 

If you're generating [free cash flow](https://offermarket.us/real-estate-glossary/free-cash-flow) on a monthly basis that covers your mortgage, taxes, insurance and maintenance costs, it's difficult to justify selling. If, however, you are losing money consistently and the property is in a market where home values are not appreciating significantly, then you should consider selling.

 

### What are your investment alternatives? 

It may make sense to sell even a high performing rental property if you have another investment opportunity that will produce superior returns on your cash investment ("cash-on-cash returns"). Some rental property investors are comfortable "trading up", in many cases from single family portfolios to multi-family deals.

### Do you need the money for unexpected expenses?

 

No one wants to be forced to sell a long-term investment, but sometimes it's unavoidable or necessary. If you have substantial equity built up in a rental property and you need to access that capital to pay for unexpected bills, that is a reason to sell. Before selling, you might want to explore a cash-out refinance to pull [contractor](https://offermarket.us/real-estate-glossary/general-contractor) of the property. This would allow you to hold onto the property but you should make sure the terms of the cash out refinance are such that your rental property's financial performance contributes to monthly free cash flow.

 

### Is managing your rental property too much of a hassle?

Is your rental property is in a market with excess inventory and you're experiencing stressful vacancies? Perhaps you can't seem to successfully screen out difficult tenants or find a reliable or cost-effective property management company. Or managing a rental property is the last thing you want to be dealing with -- some people love managing rental properties, other people quickly realize it's not for them. If any of these situations are relevant, then it might make sense to sell your rental property.

 

### I've considered my options and still want to sell my rental property...

Selling your rental property doesn't need to be expensive. With OfferMarket, you can sell your investment property to another investor or to a primary residence buyer. Regardless of how you choose to sell your rental property, you will never pay a commission or fee. Rental property owners who sell on OfferMarket's real estate marketplace save thousands of dollars and countless hours.

 

## Frequently Asked Questions

### Can I sell a tenant-occupied property? 
Yes, we encourage you to sell your leased property. There's no need to wait until your property goes vacant and carry the costs associated with a vacant property.

 

### What if my tenant is delinquent? 
Not a problem if your tenant is not paying rent (#rentstrike). The rental property investors in our network have shown a considerable appetite for rentals with non-performing tenants.

 

### What happens if the buyer has an agent? 

Buyers are required to either pay their buyer's agents commission directly or increase their purchase price and request that you pay the buyer's agent commission.

 

### How does OfferMarket work? 

1. Set your price and sign our 1-page marketing agreement.
2. We distribute your deal overview to thousands of targeted buyers.
3. We schedule a Safe Showing for all interested buyers.
4. Competitive offers are typically received within 24 hours of the showing. If you choose to accept an offer, we send you and the buyer our contract and introduce you to our title company.

 

### Where does OfferMarket operate? 
We operate everywhere in the United States. No matter where your property is located, we are able to deliver competitive offers.

 

### Do I take on any risk? 
OfferMarket transactions are 100% risk free for the seller. You can reject any offer for any reason. You can cancel our marketing agreement at any time.

 

### How does OfferMarket get paid? 
We get paid a small fee by the buyer at closing.

 

### How does OfferMarket compare to MLS?

 

| Comparison | OfferMarket | Traditional Brokerage |
|:---------------------:|:------------:|:---------------------:|
| Commission | 0% | 4-6% |
| Seller Concessions | 0% (As Is) | 0 - 2% |
| Repairs | $0 (As Is) | 0 - 2% |
| Showings | 1 | 10 |
| Open Houses | 1 | 1 |
| Closing Timeframe | 15 - 45 days | 60 days |
| Closing Costs | 0 - 2% | 1 - 2% |
| Days To Receive Offer | 1 | 60 |
| Privacy | High | Low |

Should I sell my rental property?

Building a buyers list is a critical component of real estate wholesaling. Some argue it’s the most important component, we disagree. Learn how to build a buyers list and why seller development is more important.

Real Estate Wholesaling: How To Build A Buyers List - OfferMarket

Building a buyers list is a critical component of real estate wholesaling. Some argue it’s the most important component, we disagree. In this article, you will learn how to build a buyer's list and why seller development is actually more important if you want to be a successful real estate wholesaler.

 

### What is a buyers list?

 

A buyers list is a list of buyers to whom wholesalers market their deals. In traditional wholesaling, this is a cash buyers list, as the buyers on the list are able to close fast using cash in as-is condition.

 

### How do I build a buyers list?

 

Building a buyers list is not difficult but it can be incredibly time consuming. Here is the playbook to successfully build your buyers list:

 

#### 1. Implement a system for organization

 

Create a spreadsheet with the following columns:

 

- First Name
- Last Name
- Email
- Phone

 

![buyers-list-spreadsheet-1.png](https://cms.rentstack.co/uploads/buyers_list_spreadsheet_1_f11906e4c2.png)

 

*Access and download our template: [Buyer's List (Google Sheets)](https://docs.google.com/spreadsheets/d/1gKS8OoCEfADX_WFTSBx-IMzR2Gf_KkGjH3h7oCKSDJ4/edit?usp=sharing)*

 

This living, breathing document is important and valuable. Keep it updated as if your livelihood depends on it. We'll add more columns in the steps below. Contrary to popular belief, you don't need a customer relationship management system (CRM).

 

#### 2. Identify buyers

 

Sources of buyers:

 

Facebook Groups: There is probably a real estate investors Facebook Group in your market. If there is not, stop what you're doing right now and create one. In these groups, other wholesalers will post their deals and buyers will leave their email addresses in the comments section. Grab those email addresses and add them to your buyer's list spreadsheet.

 

Public records: Look at who has been buying properties in the neighborhood. You can comb through your local and state property tax records online.

 

BiggerPockets: See which members are investing in your market, read their bios and connect with them.

 

Craigslist: Post a classified in the housing sections that you're looking for [fix and flip](https://offermarket.us/real-estate-glossary/fix-and-flip) and rental property buyers. You might get a few investors looking through Craigslist for deals that reply with their contact information.

 

Referrals: Buyers develop relationships with other members of the real estate ecosystem. Title companies, real estate attorneys, agents, contractors, architects. Develop relationships with these service providers and ask for referrals to the buyers they work with.

 

#### 3. Understand the acquisition criteria of each buyer

 

- Where are they buying? ZIP, County
- What are they buying? Type of real estate -- single family, multi-family, mixed use, commercial, land, [fix and flip](https://offermarket.us/real-estate-glossary/fix-and-flip), buy and hold rental
- Financing? Do they buy with cash or hard money, conventional mortgage loan, seller financing
- Max investment as % of ARV: what is the maximum they are willing to pay (purchase price + closing + rehab costs) as a % of after repair value.
- What is their target or minimum cash-on-cash return? For every dollar invested in a deal, how much [free cash flow](https://offermarket.us/real-estate-glossary/free-cash-flow) do they need in return?
- Deals per year: how many deals are they doing per year?
- Price range: what's their sweet spot for purchase price and total investment (purchase price + closing + rehab)?

 

Your buyers list spreadsheet should now look something like this:

 

![buyers-list-spreadsheet-2.png](https://cms.rentstack.co/uploads/buyers_list_spreadsheet_2_1413ff409e.png)

 

*Access and download our template: [Buyer's List (Google Sheets)](https://docs.google.com/spreadsheets/d/1gKS8OoCEfADX_WFTSBx-IMzR2Gf_KkGjH3h7oCKSDJ4/edit?usp=sharing)*

 

#### 4. Provide them with relevant deals

 

Use your knowledge of your buyer's acquisition criteria to focus your seller development. If you have a buyer on your list who is buying as much as they can get their hands on, it would be wise to spend seller outreach time looking for properties you can put under contract at the terms necessary to match your buyer's criteria. Conversely, don't spend time looking for obscure deals for a buyer who only buys 1 or 2 properties per year.

 

### Focus on Seller Development

 

It doesn't make sense to spend a lot of time networking with buyers when there’s a low probability your initial inventory will be relevant to them. Sure, it helps to speak with some buyers to learn about their acquisition criteria, but don’t waste time on buyers if you don’t have inventory.

 

The most important success factor in real estate wholesaling is deal inventory. If you don’t have deals, you have nothing for your buyers. 

 

If you’re just getting started in real estate wholesaling, pour all of your effort into seller development. Your contract in hand is a forcing function to figure out your buyers list and deal distribution. Allow your deals to force you to figure out how to find buyers that would be interested in each specific deal.

 

### Understand your distribution channels

 

Once you have a contract in hand, you become a deal marketer. Great marketers master their customer acquisition channels and you need to to the same. You don't need to use all channels for every deal but you need to use the right channels to assign your deal quickly for your target assignment fee.
​
 

- Buyers List: email, SMS text message, phone call
- Facebook Groups -- join our sponsored group: [Off-Market Real Estate](https://www.facebook.com/groups/326051528838367)
- Craigslist
- OfferMarket

 

## [Post your wholesale deals for free on OfferMarket](https://www.offermarket.us/sell?ref=guide-real-estate-wholesaling-how-to-build-a-buyers-list)

Real Estate Wholesaling: How To Build A Buyers List

What is wholesale real estate? How does it work? Learn expert insights from OfferMarket.

Wholesale Real Estate 101 - Sell My House Fast - We Buy Houses

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Wholesale Real Estate 101 - OfferMarket

### What is wholesale real estate?

 

[Wholesale](https://offermarket.us/real-estate-glossary/wholesale-properties) real estate is real estate that is purchased through a real estate wholesaler, typically via an assignable [contract of sale](https://offermarket.us/real-estate-glossary/contract-of-sale) the wholesaler has with the seller. You're probably wondering what in the world does that mean? Let's take a step back and explain how wholesaling works.

 

#### You have three parties:

 

1. Seller
2. Wholesaler ("Initial Buyer")
3. Buyer ("Assigned Buyer", "Assignee")

 

#### [Wholesale](https://offermarket.us/real-estate-glossary/wholesale-properties) real estate transaction flow:

 

1. The Wholesaler finds a property that is likely to be available for purchase.
2. Wholesaler reaches out to the owner(s) (Seller) of the property and inquires about buying it in an off-market transaction, typically for cash, as-is condition, fast close.
3. Seller, typically under the impression the Wholesaler is the actual Buyer, agrees to sell their property to the Wholesaler -- typically at a significant discount to the property's fair market value in exchange for the convenience of the terms of the transaction.
4. Wholesaler provides Seller with a formal offer via [Purchase And Sale Agreement](https://www.offermarket.us/real-estate-glossary/purchase-and-sale-agreement) ("Contract of Sale"), Seller signs and is now legally under contract with the Wholesaler.
5. Wholesaler then markets the contract to their "Buyer's List", a group of real estate investors and agents that are interested in purchasing off-market real estate.
6. Wholesaler then assigns their role as Buyer in the Contract of Sale to another person or legal entity ("Assignee") who assumes the role of Buyer and closes the transaction.

 

#### Catalysts for wholesale real estate deals:

 

- distressed properties
- distressed owners (financial hardship, health issues, divorce)
- relocation
- out of state owners
- death and inheritance

 

#### Wholesale real estate transaction terms:

 

- Financing: cash or conventional mortgage loan
- Inspection: as-is no [inspection contingency](https://offermarket.us/real-estate-glossary/inspection-contingency), or [as-is](https://offermarket.us/guides/selling-a-house-as-is) with right to terminate
- Close by: 30 days or less

 

### How do Wholesalers market to Sellers?

 

#### Cold calling. 

- Research numbers efficiently
- Don't be afraid to experiment with paid lists from several different vendors
- Always leave a voicemail
- For non-landline numbers: always send a text message right after

 

#### Cold texting. 

Since many people screen unfamiliar numbers, texting is an effective way to get your message through. 

 

![real-estate-wholesaler-text-message.jpg](https://cms.rentstack.co/uploads/real_estate_wholesaler_text_message_cdd9536a2d.jpg)

 

#### Ringless voicemail. 

Have you ever received a voicemail notification but the phone never rang? Many real estate marketers swear by voicemail "drops" which are enabled by phone call programs that place 2 calls a fraction of a second apart. The second call goes straight to voicemail by default given how carriers handle this scenario and a recorded message is delivered, while the first call is ended before your phone rings.

 

The message goes a little something like this:

 

>"Hi this is John, I'm a real estate investor and I'm buying 2 or 3 properties in your neighborhood. I would be interested in buying your property for cash. If you or someone you know would be interested in selling, give me a call back at 555-555-5555." 

 

#### Postcard mailers. 
Postcard postage rates are $0.35. One deal for ever 1,000 postcards sent - a $350 cost -would more than justify the marketing expense.

 

![we-buy-houses-postcard.png](https://cms.rentstack.co/uploads/we_buy_houses_postcard_f5c80bad8e.png)

 

#### Letter mailers. 
These are typically more official and personalized to include your address in the letter, a signature and possibly a personal handwritten note and address on the envelope.
​
 

If you'd like feedback on your own mailers, or you just want an optimized template, contact us and we will be happy to help.

 

#### Driving for dollars. 

This is the age-old method of driving around a neighborhood looking for houses that show clear signs of distress. Nowadays, you don't necessarily need to have or use a car. Instead, you can can simply use Google Maps Street View. Street View will show you when the picture was taken, the risk is that that was a while ago and a lot could have changed. Once you find a property, check your local property assessments and taxation website for the mailing address for the owner of the property and to make sure it has not already sold.

 

Things to be on the lookout for:

 

- Overgrown yard
- Boarded-up windows

 

![driving-for-dollars-google-maps-street-view.png](https://cms.rentstack.co/uploads/driving_for_dollars_google_maps_street_view_ca63c517c7.png)

 

#### Bandit signs. 
You've seen these staked in the ground at intersections and stapled to telephone poles. They are technically illegal in many jurisdictions so be careful and respectful. Experts say yellow and black is most effective, though we aren't too sure there's actual science behind that.

 

![we-buy-houses-bandit-sign_orig.gif](https://cms.rentstack.co/uploads/we_buy_houses_bandit_sign_orig_6b987cf7da.gif)

 

### Common mistakes real estate wholesalers make:

 

#### 1. Purchase price is too high. 

 

If the purchase price is too high, and the numbers don't work for your buyers, then you may get stuck unable to assign the contract.

 

#### 2. Seller is difficult to work with. 

 

Real estate wholesaling is all about efficiency. You need to protect your time from sellers that need too much babysitting in order to get a contract in place and the deal to settle.

 

#### 3. Time management. 

 

You need to always be adding properties to the top of your funnel and nurturing your opportunities. A CRM or a spreadsheet system you can stick to will serve you well. 

 

#### 4. Expectation setting. 

 

If you are not honest in your communication with the seller, you are risking your reputation. The truth is you are not going to be buying the house, you are not a cash buyer, and you can't guarantee that you can close in n days.

 

### Wholesale Real Estate Marketplace

 

OfferMarket is a marketplace for off-market real estate. Wholesalers post their deals on OfferMarket (for free) and OfferMarket distributes these deals to our network of qualified buyers. OfferMarket dramatically increases the speed at which your deals are assigned and the probability with which your deals will close.

 

### [Post your wholesale deals on our free listing website and get buyer leads for free!](https://www.offermarket.us/sell)

 

### Additional content on wholesale real estate:

 

- [Sell My House Fast, We Buy Houses In Any Condition For Cash](https://dwshorowitz-offermarket.medium.com/sell-my-house-fast-we-buy-houses-in-any-condition-for-cash-c84c30d55539) - Medium
- [Wholesale Real Estate: The World Of Real Estate You Probably Know Nothing About (But You Should)](https://dwshorowitz-offermarket.medium.com/wholesale-real-estate-the-world-of-real-estate-you-probably-know-nothing-about-but-you-should-b544c6ad69b5) - Medium

Wholesale Real Estate 101

Learn how to sell your house fast without a real estate agent by making buyers compete and using technology.

How to sell your house fast without an agent

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How to sell your house fast without an agent - OfferMarket

If you sell your house to an iBuyer, you'll sell your house fast, but you'll walk away from the transaction with considerably less net proceeds than you would in a competitive process.

 

If you sell your house to a [fix and flip](https://offermarket.us/real-estate-glossary/fix-and-flip) investor off-market without entertaining offers from other prospective buyers, you'll walk away from the transaction with a lot less than you would have in a competitive process. 

 

OfferMarket is a real estate marketplace that eliminates transaction fees and creates competition among buyers. We create a win-win where a portion of the seller's savings are passed on to the buyer.

 

| Comparison 	| OfferMarket 	| Traditional Agent 	| iBuyer 	|
|:-----------:	|:-----------:	|:-----------------:	|:--------:	|
| Service fee 	| 0% 	| 5% - 6% 	| 5% - 10% 	|
| Repairs 	| 0% (as is) 	| 0% - 4% 	| 0% - 4% 	|
| Competition 	| High 	| High 	| Low 	|
| Convenience 	| High 	| Low 	| High 	|

 

*The costs associated with traditional home sales ranges from 6% to 15%.*

 

When you sell your house you want to avoid expensive fees (commissions, repairs), you want to make buyers compete, and you want to close fast without any delays or headaches. That's exactly what OfferMarket provides. OfferMarket is an agentless real estate marketplace where sellers list for free and don't pay any commissions or service fees. OfferMarket is better than for sale by owner (FSBO) because we make buyers compete, screen all buyer inquiries, manage the contract paperwork, and coordinate the title work.

 

### To sell your home fast and competitively

 

1. avoid expensive, unnecessary fees
2. make buyers compete

 

### [Create your free listing on OfferMarket](https://www.offermarket.us/sell?ref=blog-how-to-sell-your-house-fast-and-competitively)

Learn why and when selling a house in poor condition makes financial sense. The key to selling your home fast in poor condition hinges on value and careful ROI analysis. This guide will show you how to sell a house in poor condition.

Selling A House In Poor Condition

## Does it make sense to sell a house without repairs?

 

Selling a house in poor condition may seem counterintuitive. You might be thinking but I want to maximize my sale price, shouldn't I spend money repairing the property? Or don't homebuyers want to buy a turnkey property?

 

Across multiple recent surveys, a majority of prospective homebuyers are interested in saving money by buying fixer uppers. Perhaps this doesn't come as a surprise, but mainstream television has glorified the DIY fixer upper approach to home remodeling. Millennials, with more energy and student debt than other generations are most interested in this approach.

 

The objective, therefore, is not to maximize the sale price in gross terms. The objective is to maximize the sale price while minimizing the capital (i.e. cash) needed to achieve that sale price. That is to say, you need to carefully evaluate the return on invested capital when considering repairing a home or investment property before selling. If you do this properly, you will find that it often makes financial sense to sell a home in poor condition.

 

Let's take a look at an example. If you have a $100,000 property in poor condition and you can invest $100,000 to bring the ARV (after repair value) to $250,000, it might be tempting to move forward with the rehab project in pursuit of that $50,000 in forced equity. Before you do, here are the things you should be considering:​

 

### Market condition

Is it a seller's market where demand from buyers is outpacing the supply of housing inventory? Or is it a buyer's market where homes are selling below list price and sitting for long periods of time?

 

### Neighborhood

Do homes often sell for $250,000 in this neighborhood, or is $250,000 a stretch and unlikely to achieve no matter how much patience you have leaving the home on the market?

 

### Project requirements

Do you have the right team to successfully complete the project in a timely and cost effective manner? How sure are you that you can conduct the renovation quickly and within your budget?

 

### Which improvements pay off?

Most home improvements deliver less in added home value than their cost. That is to say for every $1 you spend, you are likely to get less than $1 in added home value. It's important to choose your repairs wisely.

 

We would love to provide you with a table of estimated home improvement payback percentages but the truth is that home repairs and renovations are incredibly subjective to the local market, cost of labor, cost of material, and home specifications. For example, adding a second bathroom to a 4 bedroom house is going to have significantly higher payoff than re-doing the single bathroom in said house. Are you following us?

 

## What should you do before selling your house? 

 

Selling a home in poor condition and avoiding expensive projects doesn't mean you should not do anything before selling your home.

 

### Roof leaks

Make sure your roof is not leaking. Patch the leaks, prime and paint water stains. Buyers don't want to deal with active leaks. It raises concerns about immediate cash needed beyond down payment and closing costs. Notice we are not saying you need to replace your entire roof.

 

### Bathrooms

Re-caulk the tub and clean the tiles. Give buyers a clean slate. No one wants to inherit your mildew, moldy caulking.

 

### Plumbing and HVAC

Make sure these systems are in working order, again avoid replacement.

 

### Professional cleaning and photography

Before going on a date you dress up and make an effort to look your best, but you don't necessarily go out and spend thousands on clothing, jewelry and plastic surgery. The same holds true for intelligent, effective home selling.

 

### To give your property the best chance of finding love, we recommend the following:

 

- "deep clean" the interior
- power wash the exterior
- 25 professional photos
- Matterport 3D walkthrough
- virtual staging

 

All of the above should run you less than $2,000.

 

### Make it clear you are selling the property as-is

This means you are not making any representations or warranties about the condition of the property and you are not going to fix things that are discovered during the inspection.

 

## How does selling AS IS compare to fixing up before selling?

 

| Comparison | As Is | Traditional |
|:-------------------------------------:|:-------------------------:|:-------------------------:|
| Listing price point | More attractive to buyers | Less attractive to buyers |
| Investment required (% of home value) | 0 - 2% | 1% - 10%+ |
| Time to sell | Fast | Slow |
| Hassle | Low | High |

 

* Comparison data presented in the above table is based on national averages and estimates. 

 

## Sell AS IS with OfferMarket

 

OfferMarket is an AS IS real estate marketplace. We believe you should be able to sell your home AS IS and receive competitive offers. Our streamlined transaction flow and proprietary listing distribution technology targets thousands of qualified buyers and makes them compete for your home. 

### How it works:

**1. Create free listing.**
Set your terms, launch your campaign.

**2. Make buyers compete.**
Once we have a critical mass of interested and pre-qualified buyers (typically within 2 weeks), we will coordinate a Safe Showing. You will typically receive multiple competitive offers within 24 hours of your Safe Showing.

**3. Review offers: accept or reject**
If you accept an offer, we send our contract to you and the buyer and introduce you to our title company for closing.

**4. Close your sale.**
Buyers on OfferMarket are carefully qualified and expected to close within 30 days of offer acceptance.

Buying a house without an agent can benefit you and the seller. See if you have what it takes to buy your next property without an agent.

OfferMarket Guide: Buying A House Without An Agent

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Buying A House Without An Agent - OfferMarket

Buying a house without an agent can benefit you and the seller, here's what you need to know.

 

**If you want to buy a house without an agent but you are not willing to put in the effort to learn the transaction process, you should stop reading this and find an agent.​**

 

We get it, the traditional way to buy a home is with a real estate agent. A home is a big purchase, and going without a real estate agent can feel daunting. Here are some key tips on how to buy without a real estate and save money while being entirely satisfied with your purchase.

 

## Why Buy Without An Agent?

### Save money. 

When you buy without an agent, the seller can avoid paying 2-3% commission. If the seller is represented by an agent, the seller's agent can agree to accept 1/2 of the original brokerage commission agreed to when it was anticipated that the commission would need to be split with a buyer's agent. In this situation, for example, you can offer $242,500 for a property listed at $250,000 and the seller would receive roughly the same net proceeds.

 

### More direct communication. 

When you deal directly with the seller's agent, or the seller, there is less of a game of telephone relaying information, negotiation details and documents. Fewer points of failure can save you time and headaches.

 

## Guide for buying a house without an agent:

### 1. Choose a lender

This may take some shopping. You will want a lender who offers a competitive rate and has a responsive team. The lender will provide you with a pre-qualification letter you will need with your offer – though, keep in mind that providing a pre-qualification letter does not mean you have to use that lender if they are not offering competitive rates or appear unresponsive. 

 

If you do intend to apply for a loan for the purchase of your home, in the period between offer acceptance and closing, do not do anything that will affect your credit, including: quitting or switching your job, opening a new line of credit, paying your bills late, or buying an expensive item (car, boat)

 

### 2. Choose a title company
The title company is the most important vendor in a real estate agent. The cost of a title company’s services can be negotiable. We use Terrain Title at OfferMarket because they offer the most competitive cost for their services we have seen. 

 

Learn more about what title companies do and their role in the transaction.

 

### 3. Choose an inspector

An inspector is another important part of the transaction. Please note that the properties listed on OfferMarket are priced “as is”, so there will be no negotiations after the offer is accepted.

 

Not sure who to choose? Ask the experts on your local Facebook Group, Real Estate Investors Association (REIA), or BiggerPockets. 

 

### 4. Know the neighborhood

The reality is that neither we nor real estate agents can tell you some information you may want to know, including quality of schools and proportion of people in different age groups, because of well-intended anti-discrimination legislation. This information is publicly available, and walking around a neighborhood at different times of day will give a good feel for if it works for you. 

 

### 5. Understand comparable home prices

We provide comparable home prices for the homes we have listed in the case of OfferMarket, you can also find these on real estate websites. Often, real estate websites do not take into account all the different factors that affect home prices, for example, the website may not know that a renovation happened since the last purchase making it worth more, or that a structural defect was unearthed, reducing the home price. 

 

### 6. Know what you are willing to pay

This is incredibly important. Many homebuyers over-pay for properties. This is an especially common mistake if you're a first-time homebuyer. Calculate what your goal price is. Analyze your purchase price target based on how it would perform as a rental property -- see our Rental Property Investing Toolbox. Would it rent for more than your mortgage principal, taxes, and insurance? How much more? Think beyond the down payment to closing costs and the price of any necessary renovations. Hold firm with this amount, purchasing a home, moving, and furnishing is expensive….you want to feel comfortable with what you paid.

 

### 7. Submit your offer

It's time to figure out what your deal points will be. Here are the most common components of an offer:

 

- Purchase Price: how much will you be paying for the property?
- Earnest Money Deposit (EMD): how much of a deposit do you want to provide to show the seller you are serious?
- Offer Expiration: when does your offer expire?
- Financing type: cash, conventional, FHA or seller financing
- Condition: AS IS or [inspection window](https://offermarket.us/real-estate-glossary/inspection-window) with right to terminate?
- Close by date: when can you commit to close by?

 

If you don't have a [Purchase And Sale Agreement](https://www.offermarket.us/real-estate-glossary/purchase-and-sale-agreement) form for your state, you can provide the deal points to the seller's agent and have them draft the contract for you. You may want a lawyer to review to be sure your desired deal points are property included.

 

### 8. Negotiate

Focus on what's important to you and the seller and figure out a win-win. Remember, the seller's agent represents the seller's interests so do not rely on their advice.

 

### 9. Follow up with lender, title company until transaction is closed

Keep on your title company and lender, especially during times of heightened deal activity in the market. Make sure they're on track and they have everything needed from you to close.

 

## Buying With OfferMarket Is Even Easier

On the OfferMarket real estate marketplace, there are no agents involved and we provide the standard documents and title company to close your transaction. Buyers save thousands of dollars and countless hours buying with OfferMarket.

Buying A House Without An Agent

Selling a house with tenants on a lease is a lot easier than you might think if you focus on these fundamentals.

How to sell a rental property with tenants - OfferMarket Guide

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How To Sell A Rental Property With Tenants - OfferMarket

Selling a house with tenants on a lease is a lot easier than you might think if you focus on these three fundamentals:

 

1. Understand your local landlord tenant laws
2. Determine your target buyer
3. Streamline the process for tenants and buyers

 

### Understand your local landlord tenant laws

The first fundamental step in selling your rental property is to understand the local landlord-tenant laws. In Baltimore City, for example, tenants have the right of first refusal to purchase the property. This means you must give your tenants the right to purchase your rental property by matching the highest and best offer you receive from other buyers. If your property is in a jurisdiction that requires a right of first refusal be given to the tenants, you should reach out to your tenants with a formal notice of intent to sell informing them of their right to purchase the property. Most tenants will confirm that they have no intention to exercise their right of first refusal -- you should request this in writing.

 

If your lease is expiring, it is always easier to sell a vacant property and you may want to provide a notice of non-renewal and a notice to vacate. Notice to vacate commonly provides tenants with 60 days from the first day of the month. 

 

Many landlords do not want to incur the carrying costs of a vacant house, so they will keep their tenants in place on a month-to-month lease once their lease term expires. This opens up the pool of buyers beyond rental property investors to primary residence buyers who may decide to provide notice to vacate to the tenants once they assume ownership of the property. In today's housing market, with record low inventory, many primary residence buyers are willing to purchase a tenant-occupied house.

 

When it comes time to show the property to buyers and provide access to inspectors and appraisers, you should always provide your tenants with as much notice as possible and no less than 24 hours notice. Looking at this from the tenant's perspective, it's an inconvenience to be required to provide access to your home on short notice, so go out of your way to be as courteous and appreciative as possible!

 

### Determine your target buyer

 

If your rental property is leased for a longer term (i.e. 1+ years remaining on the lease), then your pool of buyers is limited to rental property investors. Rental property investors are disciplined in what they are willing to offer, so you should not expect to receive offers at "market value". This means your rental property in the midst of a long-term lease is not worth the same it would be worth if it were vacant and ready for a primary residence homebuyer to purchase. For rental property investors, the numbers need to make sense as it relates to target [cap rate](https://www.offermarket.us/real-estate-glossary/cap-rate-capitalization-rate) and [cash-on-cash returns](https://www.offermarket.us/real-estate-glossary/cash-on-cash-return).

 

Certain rental properties have such extensive [deferred maintenance](https://www.offermarket.us/real-estate-glossary/deferred-maintenance) that the only likely investors are [fix and flip](https://www.offermarket.us/real-estate-glossary/fix-and-flip) and rental property investors who are comfortable with major [rehab](https://www.offermarket.us/real-estate-glossary/rehab) projects. These buyers carefully estimate rehab costs in order to determine how much they are willing to buy your rental property for. These buyers may keep tenants in place in the near term while they complete other projects and prepare for the renovation of your rental property.

 

Many landlords do not feel comfortable "breaking the lease" in order to sell a property. It is possible to break the lease by incentivizing your tenants to vacate. The is commonly referred to as "cash for keys", a term also used in eviction proceedings.

 

### Streamline the process for tenants and buyers

 

1. Provide as much details as possible to prospective buyers
2. Screen prospective buyers before they schedule a tour
3. Schedule one safe showing instead of individual showings
4. Communicate courteously and proactively with your tenants
5. Eliminate contingencies that can result in the transaction falling apart
6. Work with a title company that can close quickly
7. Provide clear communications to tenants regarding the status of the sale and transition to new ownership

 

#### Provide as much details as possible to prospective buyers

 

When you provide thorough details about your rental property to prospective buyers, it will answer many of their questions and allow them to decide if they are seriously interested in taking the next steps in the process (tour, offer). This is where you can weed out people who are just going to waste time for you and your tenants.

 

We recommend providing the following:

 

- high quality pictures and 3D walkthrough
- lease terms (monthly rent, lease expiration, tenant performance)
- details on age and condition of fixtures and systems (roof, HVAC, flooring, siding, appliances)
- comparable home sales "[comps](https://www.offermarket.us/real-estate-glossary/comps)"
- inspection 

 

#### Screen prospective buyers before they schedule a tour

 

Require prospective buyers to provide photo ID and proof of funds. For trust and safety purposes, you want to make sure you know who you are allowing into your property. This is especially true if you are allowing a prospective buyer to tour your rental property without you being present. Drivers license is the standard form of photo ID documentation.

 

Going one step further than photo ID, you should require all prospective buyers to confirm their financing method and provide you with valid [proof of funds](https://www.offermarket.us/real-estate-glossary/proof-of-funds). 

 

Financing methods:

 

- Cash
- [Hard money](https://www.offermarket.us/real-estate-glossary/hard-money)
- [Private lender](https://www.offermarket.us/real-estate-glossary/private-lender)
- Conventional loan
- FHA or VA loan

Valid proof of funds:

 

- Online banking screenshot
- Bank account statement
- Brokerage account screenshot
- Brokerage account statement
- Pre-approval or pre-qualification letter from lender
- Commitment letter from hard money lender or private lender

 

If prospective buyers resist your proof of funds request, you should encourage them to redact any information they deem sensitive. Requiring proof of funds will eliminate [wholesalers](https://www.offermarket.us/real-estate-glossary/wholesale-properties) who tell you they are cash buyers but they really don't have any money or intention to buy your property. 

 

#### Schedule one safe showing instead of individual showings

 

Most buyers will need to walk a property before they are comfortable submitting an offer. Even if you provide an inspection report and a 3D Matterport home tour. The last thing you want to do is coordinate one-off showings of a tenant-occupied property. This is why we recommend scheduling one [safe showing](https://www.offermarket.us/tools/safe-showing-policy) for multiple qualified buyers once you have enough interest in the property. This will also send a clear message to prospective buyers that they need to submit a competitive offer if they want to buy the property.

 

#### Communicate courteously and proactively with your tenants

 

Give no less than 24 hours notice of scheduled showings, show appreciation for their cooperation, and let them know through your communication and actions that you are doing everything you can to reduce the inconvenience caused to them by this home sale process.

 

#### Eliminate contingencies that can result in the transaction falling apart

 

We always recommend selling your home in [AS IS condition](https://www.offermarket.us/guides/selling-a-house-as-is) and setting very clear expectations with prospective buyers that you will not be conducting repairs or negotiating based on inspection results.

 

The most competitive and attractive offers when selling your tenant-occupied rental property are offers that have no contingencies. That means the buyer is not likely to back out and you therefore are not likely to have to deal with re-starting the home sale process to bring in another buyer. On this note, if you are able to successfully make buyers compete and you generate multiple attractive offers, it's a best practice to have the runner-up confirm with you that they will be willing ready and able to close if the winning buyer falls through for whatever reason.

 

#### Work with a title company that can close quickly

 

Title companies and closing attorneys frequently cause unnecessary delays due to disorganization and lack of proactive communication. This is especially true during a hot housing market. Be sure to check in every 2-3 days with the title company to see what they need and how you can assist in order to close on time.

 

#### Provide clear communications to tenants regarding the status of the sale and transition to new ownership

 

Once you've sold your rental property (congrats!):

 

1. Make sure any security deposits, pre-paid and pro-rated rent are transferred to the new owner/property manager 
2. Send an introduction via email and/or SMS connecting the tenants and the new owner/property manager. Confirm with the tenants that their security deposit (if applicable) has been transferred into the care of the new owner/property manager. Confirm with the tenants that all future rent payments, communications and maintenance requests should be sent according to the new owner's instructions.

 

Selling your rental property with tenants is even easier with OfferMarket's Get Offers managed service.

How To Sell A Rental Property With Tenants

The current housing market is arguably out of control. A major supply and demand imbalance has catapulted prices to record levels. If you want to buy a house in this market, these are the things you should know. 

How to avoid panic buying in the current housing market - OfferMarket

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How To Avoid Panic Buying In The Current Housing Market - OfferMarket

The term 'panic buying' has been thrown around quite a bit during the COVID-19 housing boom. Housing inventory is at record lows, and housing demand is at record highs. Economics 101 tells us that this is the recipe for a pricing shock -- according to data compiled by S&P CoreLogic Case-Shiller US National Home Price Index, home prices in the United States have increased 12% from March 2020 through February 2021. This unprecedented spike in home prices is driven by record low interest rates and a rapid shift to a work-from-home economy that demands more rooms, more space.

 

We have all heard stories of listings on the [MLS](https://www.offermarket.us/real-estate-glossary/multiple-listing-service) receiving dozens of offers, above asking price, sight unseen with no contingencies and going into contract in just a few days. We have also heard countless frustrated homebuyers lamenting about the fact that if they want to buy a house, they are going to be forced into a bidding war for a house that they would not have even considered purchasing pre-pandemic. 

 

In other words: buyers are over-paying for undesirable inventory.

 

This is panic buying. Panic buying is irrational and dangerously value destructive. This simple guide is your resource to help you avoid panic buying.

 

In our Medium post, [Wholesale Real Estate: The World Of Real Estate You Probably Know Nothing About (But You Should)](https://dwshorowitz-offermarket.medium.com/wholesale-real-estate-the-world-of-real-estate-you-probably-know-nothing-about-but-you-should-b544c6ad69b5), we introduce an important source of housing inventory that most "retail" home buyers don't know about.

 

[Wholesale real estate](https://www.offermarket.us/real-estate-glossary/wholesale-properties) is a house where the owner (seller) is under contract with a wholesaler (initial buyer) who is selling the contract to another buyer (end buyer). Most of the time, end buyers of wholesale real estate are professional real estate investors (i.e. fix and flip and rental property investors). 

 

Additional reading: [Wholesale Real Estate 101](https://www.offermarket.us/guides/wholesale-real-estate-101)

 

## Where to find off-market housing inventory

 

### 1. OfferMarket

 

OfferMarket is a marketplace for wholesale real estate. There are hundreds of off-market deals that you can browse on our platform and buy with ease, without an agent.

 

**Join the pros and subscribe to OfferMarket deal flow:**

 


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### 2. Facebook Investor Groups

 

There are countless Facebook Groups dedicated to wholesale and off-market real estate, many of which are local. Join these groups for a steady flow of off-market deals. While you're at it, join our Facebook Group: [Real Estate Marketplace: Wholesale, For Sale By Owner](https://www.facebook.com/groups/326051528838367).

 

### 3. Network with local wholesalers

 

There are probably several reputable wholesalers operating in your local market. You can find them through local Facebook Groups, Google search, and your local [REIA](https://www.offermarket.us/real-estate-glossary/reia). Get on their [Buyer's List](https://www.offermarket.us/real-estate-glossary/buyers-list).

 

### 4. Be A Contrarian, Buy Like A Value Investor

 

Warren Buffett famously said "be fearful when others are greedy, and greedy when others are fearful". While housing prices have increased tremendously over the course of the pandemic, real estate is hyper local and certain markets have not experienced anywhere near as steep a rise in home prices. This is especially true of urban markets. While everyone is chasing suburban listings, smarter buyers are looking for opportunities in the areas buyers are fleeing.

 

## Summary

 

Fight the FOMO (fear of missing out) and use the suggestions in this guide to buy smarter.

 

There's more to learn at OfferMarket. Feel free to [reach out](https://www.offermarket.us/contact) if you have any questions!

How To Avoid Panic Buying In The Current Housing Market

Are you considering selling your house For Sale By Owner (FSBO)? Before you do, learn For Sale By Owner best practices.

How to sell a house For Sale By Owner - OfferMarket

### A Smarter Way To Sell Your Home

You should not have to pay expensive fees to sell your home competitively. We're a zero commission, agent-less real estate marketplace on a mission to save sellers time and money. We've developed proprietary technology and a radically simplified sale process that gets your property noticed and makes buyers compete.

 

### How does OfferMarket Compare To For Sale by Owner (FSBO)?

Selling your home For Sale By Owner (FSBO) can be very appealing. Not paying a listing agent's brokerage fees can save you 3% and not paying a buyer agent's fees can save you another 3%. That's thousands of dollars in your pocket!

 

But For Sale By Owner comes with some major drawbacks. Many For Sale By Owner listings end up selling considerably lower than if you were to list with an agent on the Multiple Listing Service (MLS). For Sale By Owner comes with all of the extra work you would otherwise have an agent do for you. This includes pricing the listing, listing the property, coordinating showings, reviewing offers, negotiating, coordinating paperwork, following up with the title company and buyer/buyer's agent

 

### If you want to sell your home without any help, here are some things you need to consider:
- How to sell your home without an agent -- where are you going to list it? how will buyers find you?
- How to value your home -- what is the correct listing price?
- How to review offers and contracts ([Purchase And Sale Agreement](https://www.offermarket.us/real-estate-glossary/purchase-and-sale-agreement)) -- how do you qualify buyers?
- How to negotiate with buyers and avoid being taken advantage of
- How to coordinate closing with a title company or attorney

Or, you can sell with OfferMarket and sit back while we bring you offers.

 

### Better than For Sale By Owner

 

| Comparison | OfferMarket | For Sale By Owner |
|:-----------------------------------:|:------------------------------------:|:---------------------------------------:|
| Commission | 0% | 0 - 3% |
| Buyer Competition | High | Low |
| Time & Effort | Low | High |
| Repairs, Contingencies, Concessions | None (As Is) | 0 - 5% |
| Showings | 1 | 10+ |
| Open Houses | 1 | 1+ |
| Closing Costs | 0 - 2% | 0 - 2% |
| Days To Close | 15 - 45 days | 60+ days |
| Forms | Standardized, managed by OfferMarket | Need to figure out and consult a lawyer |

How To Sell A House For Sale By Owner

How to buy a house: everything you need to know, expert insights and commentary to help you buy a house and avoid costly mistakes.

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How To Buy A House - Guides - OfferMarket

Owning real estate is an important foundation for building generational wealth. Whether you're buying your first house or your 100th rental investment property, this guide is designed to simplify the home buying process and provide a framework to build wealth through real estate.

 

By the end of this guide, you will be well on your way to financial literacy, know how to buy a house and avoid costly home buying mistakes.

 

### Step 1: Live Within Your Means

 

Financial independence is something we all strive for. The only way to be financially independent is to spend less money than you earn. The importance of this concept cannot be overstated. If you are unable to live within your means, you are not ready to buy a house, and you are not going to build lasting wealth.

 

When you live within your means, you accumulate savings. Your savings gives you the ability to afford a down payment on a house. Without savings, it is very difficult - though not impossible - to buy a house. 

 

#### Delayed Gratification

 

We live in a society conditioned to consume. Every day we see hundreds, if not thousands of advertisements designed to convince us to spend money. Research has shown that ones ability to delay gratification is directly correlated to high achievement. Instead of impulsively buying the hot new widget, those who avoid that natural temptation to spend will accumulate a lot more money than those who cannot resist the urge to spend money frivolous things.

 

### Step 2: Buy Assets

 

In his #1 bestselling personal finance book *Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!*, Robert Kiyosaki discusses the difference between buying assets and buying liabilities. 

 

#### Buying Liabilities vs. Buying Assets

 

When you buy a liability, you are buying something that takes money out of your pocket. For example:

 

- $100,000 car that loses value the second you drive it off the lot and requires $200 of maintenance monthly.
- Renting a luxury apartment for $2,000 per month -- at the end of the day that money is gone, you do not own the property, and you are contractually obligated to pay the remaining months on your lease.
- Buying a house that requires expensive maintenance at a price that would be hard to sell to another buyer (i.e. Michael Jackson's Neverland ranch)

 

When you buy an asset, you are buying something that grows in value and pays you money. For example:

 

- Buying a $100,000 rental investment property that pays you $300 per month in free cash flow after expenses and returns 12% annually on your initial investment.
- Investing $100 per month in a Vanguard ETF that pays a 2% dividend and over time will appreciate in value 5 - 10% annually.
- Buying a $250,000 house with $12,500 (5%) down payment that costs $1,400 per month in mortgage, taxes and insurance -- after 1 year you have bought down nearly $5,000 in principal from the loan. Check out our [free mortgage calculator](https://www.offermarket.us/tools/mortgage-calculator) to see a more detailed breakdown in the costs to buy a house.

 

The key to building wealth is to buy assets and avoid buying liabilities.

 

### Step 3: Find A House That Makes For A Good Long Term Investment

 

#### Don't Overpay

 

If you spend too much money buying a house, that is a bad investment. It's not just about buying the right type of house, it's about avoiding paying too high a price. To put this into perspective, in certain real estate markets, there are people who bought houses in 2005 - 2007 during the peak of the housing bubble whose houses are still worth less in 2020-21 than when they were purchased.

 

One way to avoid overpaying is understand when demand outweighs supply. In this situation, such as that during the COVID-19 coronavirus pandemic, we saw record low interest rates fueling strong demand for suburban detached single family houses however there was record low housing inventory (supply) available on the open market. This resulted in intense buyer competition, bidding wars and double-digit percentage increases in home prices. 

 

When the market heats up, a prudent home buyer will:
 

- walk away from bidding wars (know your max price and stick to it)
- wait on the sidelines
- look off-market where competition is lower (see [OfferMarket listings](https://www.offermarket.us/listings), [40% Of Real Estate Investors Bought Their Last Property Off-Market](https://www.offermarket.us/blog/40-percent-of-real-estate-investors-surveyed-bought-their-last-property-off-market))
- look at markets that are in lower demand (i.e. urban townhomes during COVID-19 housing market)
- look at distressed properties that need major renovation

 

To this final point, most homebuyers want to buy a turnkey property that they can move into right away. This makes sense because most homebuyers don't want to have to plunk down even more money on top of a down payment and closing costs to renovate a house. Most buyers are eager to move in right away and unwilling to delay the gratification of their home purchase. This creates an opportunity for home buyers to think like fix and flip investors and buy a less desirable fixer upper that needs anywhere from minor to major renovation. To use this strategy effectively, you need to understand how to screen and manage contractors and cost-effectively rehab a house.

 

#### Know The Market

 

Real estate markets are hyper local. One town could be significantly more attractive than the town over. Understand trends in economic development, local government, public school district, population.

 

#### Buy A House That You Can Keep As A Rental

 

If you buy a house for a primary residence (to live in), that you know you can easily rent out for a monthly rate that covers your monthly expenses and provides a profit, it makes the investment significantly lower risk. To put this in to perspective, we have House A and House B.

 

House A
- Purchase price: $250,000
- Monthly principal, interest, taxes and insurance ("PITI", "carrying cost"): $1,400
- Monthly maintenance: $100
- Market rent: $1,750
- Rental Free Cash Flow: $1,750 - $1,400 - $100 = $250

 

House B
- Purchase price: $250,000
- Monthly principal, interest, taxes and insurance ("PITI"): $1,400
- Monthly maintenance: $100
- Market rent: $1,250
- Rental Free Cash Flow: $1,250 - $1,400 - $100 = -$250

 

All else equal, House A is a much safer investment than House B. House A is an asset than could be held as a cash flowing rental property if and when you decide to buy another house as a primary residence. House B, however, doesn't make much sense to own because you would need to pay money out of pocket on a monthly basis for an indefinite period of time to cover the shortfall between market rent and carrying cost.

 

From this perspective, some real estate markets are difficult to justify buying a house in because the monthly carrying cost exceeds what you could rent it for. In these market, buyers rely on home price appreciation (increase in the value of the house) which is not guaranteed.

 

### Step 4: Get Pre-Qualified For A Mortgage Loan

 

Once you are ready to buy a house, if you plan on using a mortgage loan, you will need a pre-approval or pre-qualification letter from a reputable lender. Getting pre-approved typically takes less than 24 hours and can be done online through most local or national mortgage lenders. Just because you get your pre-approval from one lender doesn't mean you need to use them for your loan.

 

### Step 5: Submit Offer(s)

 

Use a [mortgage calculator](https://www.offermarket.us/tools/mortgage-calculator) to understand what you can afford and set your maximum budget. Avoid the natural tendency to compete for a property, don't let your desire to win or an emotional connection to a given house cause you to behave irrationally. It's better to start off with a low offer and be willing to place low-end offers on multiple houses.

 

#### Understand Your Levers

 

You don't need a real estate agent ("buyers agent") to submit an offer. In fact, you can actually save money by choosing to not be represented by an agent. If you are making an offer on a house that is listed by a real estate agent ("listing agent"), you can request that the portion of the brokerage commission that would otherwise be paid to the buyers agent -- usually a 50/50 split, therefore typically 2.5% to 3% -- be waived, so the seller only pays 50% of the commission (2.5% or 3%) to the listing agent. In exchange, you can submit a lower offer that factors in the savings the seller is receiving from the reduced commission.

 

If you have the means, you can offer a higher earnest money deposit ("EMD") and/or offer to close on an accelerated timeline -- say 30 days instead of 45 days. These deal points can make your offer significantly more attractive.

 

If you are confident in the condition of the property, you can make your offer AS IS and waive your inspection contingency. This avoid frustrating post-inspection negotiations that can sour a home sale. If you choose to go this route, we recommend touring the property with a trusted licensed contractor before submitting your offer.

 

### Step 6: Make Vendors Compete, Avoid Unnecessary Expenses

 

Most lenders are not going to quote you their lowest rate off the bat. Make lenders compete, request rate quotes from multiple lenders and use quotes as negotiating leverage to get the best rate.

 

Be mindful of unnecessary fees, and fees that can be shopped and negotiated. These line items include title insurance, loan origination fees, home inspection, homeowners insurance.

 

### Step 7: Be Vigilant About Maintenance Requirements

 

It's important to protect your investment. Whether you're buying a primary residence or an investment property, it is always a best practice to fix small issues before they become major issues. This means fixing a roof leak before it worsens and you need to replace the entire roof and associated water damage and mold. 

 

Always keep enough cash on hand to cover periodic maintenance. Don't cut corners in your maintenance, get to the root cause of any issue and fix it. Make sure your contractors are licensed and insured. You can join local real estate investment associations and local Facebook groups to network with real estate professionals, get contractor referrals and get second opinions before spending considerable sums on maintenance and renovation work.

 

### Step 8: Enjoy Home Ownership

 

Home ownership can be stressful at times, but it is something you can truly be proud of. Real estate is a wonderful long-term investment and when bought correctly, a powerful vehicle to build wealth for you and your family. Enjoy the process of buying a house. If you follow this guide, you will not regret it.

 

Questions or comments? Feel free to [contact us](https://www.offermarket.us/contact)!

How To Buy A House

What are wholesale properties? Learn about wholesale real estate and how anyone buying or selling real estate can benefit from the OfferMarket wholesale real estate marketplace.

How To Find Wholesale Properties - OfferMarket

### There are two ways to find wholesale properties

 

1. do it on your own
2. access wholesale deal flow from other wholesalers

 

## Finding wholesale properties on your own

 

This section applies to you if... 

 

a) you're a real estate investor and you want to find off-market properties in-house 
b) you're looking to get into real estate wholesaling

 

The key to finding wholesale properties is to find motivated sellers. Let's take a step back and look at real estate wholesaling from a different perspective.

 

### Where are the motivated sellers?

 

Motivated sellers are all around you, and it can be overwhelming to stay organized and remember all of the different channels where motivated sellers can be found.

 

Here are some of the most important sources of motivated sellers:

 

1. property tax lien lists (public record)
2. property tax records showing unpaid, late balances (public record)
3. property tax data showing out-of-state owner and ownership change via inheritance (public record)
4. properties in your area with maintenance issues and overgrown yards​

 

### How do you get in touch with motivated sellers?

 

It's important to get this part right, because you can spend a lot of time researching only to have a pitch that misses the mark. Don't get shut down by the seller.

 

1. Have a reason for getting in touch.
2. Make it about the seller and how you can help.
3. Be respectful and empathetic.
4. Be different, remarkable, memorable.
5. Show genuine curiosity and look for the catalyst to a sale.

 

​If your communication channel is a cold call, get your core message delivered in an uninterrupted manner.

 

### Look for the catalyst

 

Catalysts are a motivating factor to sell in the near term. Examples include:
​
- Relocating for work and needs to sell quickly in order to buy another home.
- Unable to pay property taxes and needs to sell before incurring additional liens.
- Frustrated out-of-state owner dealing with difficult tenants.

 

Whatever the reason my be, find it out. If it's enough of a catalyst, there's a high probability you can create a win-win deal.

 

### Did you know... wholesalers post their deals for free on OfferMarket.

 

## Access wholesale deals from other wholesalers

 

This section applies to you if...

 

a) you're a real estate investor or developer and you want to focus on investing and not on hunting down off-market deals 
b) you're a real estate wholesaler and you're looking for joint venture ("JV") opportunities

 

1. sign up for Buyers Lists from local wholesalers
2. join local Facebook Groups for real estate wholesaling
3. sign up for OfferMarket -- note: deals on our real estate marketplace are not available for joint venture

How To Find Wholesale Properties

Learn the most cost effective ways to increase home value before selling. Avoid common money-losing mistakes and increase the value of your home.

Guides - How To Increase Home Value Before Selling - MetaImage.jpg

How To Increase Home Value Before Selling - OfferMarket

Learn the tips and tricks to cost-effectively increase your home value and avoid costly mistakes.

 

### Should you renovate or sell as-is?

 

The traditional way of selling your home typically involves expensive repairs and upgrades. If you've read our guide [Selling A House As-Is](https://www.offermarket.us/guides/selling-a-house-as-is), you probably agree that there are significant benefits to avoiding repairs and selling in as is condition.

 

### Think like a flipper.

 

If you could channel the knowledge of a seasoned fix and flip real estate investor, you will increase the value of your home and avoid all-too-common mistakes.

 

Flippers understand the local market and what similar houses are selling for. They understand the current condition of the property and what it would take to cost effectively achieve their target [after repair value (ARV)](https://www.offermarket.us/real-estate-glossary/arv-after-repair-value). They understand what their budget needs to be and they are disciplined to avoid exceeding it. Within this budget, they understand the highest ROI options to pursue.

 

Flippers also know how to keep their labor and materials costs low and maximize the productivity of their labor force. They buy the materials, provide a fair daily rate, and pack as much into the "punch list" as possible.

 

### Less is more.

 

Most home renovations do not return the amount of money you invest. So it's never a bad idea to avoid significant investment altogether and focus on basic, low cost items that are easy to manage and control.

 

#### Here are the things you can do that don't cost a lot but increase your house's value and appeal:

 

- **Professional landscaping:** give your house a proverbial haircut (cost: $250 - $500)
- **Power wash:** get rid of the grime on the siding, exterior tim, deck, fence (cost: $200 - $500)
- **Clear out and de-clutter:** if you're still living in the house, spend a weekend to throw out junk and organize (cost: Free)
- **Deep clean:** hire a cleaning service to professionally clean the place (cost: $150)
- **Professional photography:** get a pro to take 25 high resolution photos that can be touched up (cost: $150)
- **Paint the exterior:** look for areas of the exterior like doors and trim that may seem worn (cost: $50 - $200)

 

You certainly don't need to do all of the above touchups, pick and choose and keep your budget as low as possible.

 

### Best practices for selling AS IS:

 

The key to selling a home AS IS is transparency and clear expectations.

 

#### 1. Transparency

 

Your listing should make is clear the property is offered in AS IS condition. We recommend "This property is offered AS IS, the seller will not be making any repairs or providing any post-inspection concessions." You should disclose as much as possible about the property and its known defects. Some as-is sellers go so far as to pay for a home inspection. This is not necessary, OfferMarket transaction data shows it's better to encourage interested buyers to bring a contractor to the showing and/or hire a structural engineer or home inspector to inspect the property before submitting an offer. 

 

#### 2. Expectations

 

Building on the concept of transparency in an as-is home sale, it is important to set and reinforce clear expectations that you will not be conducting any repairs. This will avoid situations where the buyer is surprised, becomes frustrated and walks away from the transaction.

 

 

### How does as-is compare?

 

| Comparison 	| As Is 	| Traditional 	|
|:----------------------:	|:----------:	|:---------------:	|
| Listing price point 	| Attractive 	| Less attractive 	|
| Repairs 	| 0% - 2% 	| 1% - 10%+ 	|
| Time to sell 	| Fast 	| Slow 	|
| Hassle 	| Low 	| High 	|

 

 

### Sell AS IS with OfferMarket.

 

OfferMarket is an AS IS real estate marketplace. We believe you should be able to sell your home AS IS and receive competitive offers. Our streamlined transaction flow and proprietary listing distribution technology is targets thousands of qualified buyers and makes them compete for your home. 

 

### How it works: 

 

**Step 1:** Create your free listing, set your terms (1 minute) 

**Step 2:** Buyers schedule tours and submit offers (1 - 14 days) 

**Step 3:** Review offers accept or reject, you have no obligation. Buyers on OfferMarket are carefully qualified and expected to close within 30 days of offer acceptance. If you accept an offer, we send our contract to you and the buyer and introduce you to our title company for closing. 

**Step 4:** Close your sale (typically within 30 - 45 days of listing) 

 

### Should you sell your house as-is? 

 

A friendly, knowledgeable member of our team would love to speak with you. [Give us a call!](https://www.offermarket.us/contact)

How To Increase Home Value Before Selling

Learn how real estate wholesalers find motivated sellers. Where are motivated sellers? How do you engage with motivated sellers?

Real Estate Wholesaling: How To Find Motivated Sellers - OfferMarket

### Finding motivated sellers is more important than building your buyers list

 

Finding motivated sellers is a fundamental component of real estate wholesaling. If you read our previous article, [How to Build a Buyers List](https://www.offermarket.us/guides/real-estate-wholesaling-how-to-build-a-buyers-list?ref=guide-real-estate-wholesaling-how-to-find-motivated-sellers), you'll recall our opinion that building a buyer's is a distant second place behind putting sellers under contract. If you don't know how to put sellers under contract, you will have a very hard time being a successful real estate wholesaler.

 

The purpose of this article is to teach you how to find motivated sellers. Let's take a step back and look at real estate wholesaling from a different perspective.

 

### Where are the motivated sellers?

 

Motivated sellers are all around you, and it can be overwhelming to stay organized and remember all of the different channels where motivated sellers can be found.

 

Here are some of the most important sources of motivated sellers:

 

- property tax lien lists (public record)
- property tax records showing unpaid, late balances (public record)
- property tax data showing out-of-state owner and ownership change via inheritance (public record)
- properties in your area with maintenance issues and overgrown yards​

 

### How do you get in touch with motivated sellers?

 

It's important to get this part right, because you can spend a lot of time researching only to have a pitch that misses the mark. Don't get shut down by the seller.

 

- Have a reason for getting in touch.
- Make it about the seller and how you can help.
- Be respectful and empathetic.
- Be different, remarkable, memorable.
- Show genuine curiosity and look for the catalyst to a sale.

 

​If your communication channel is a cold call, get your core message delivered up-front in an uninterrupted manner.

 

### Look for the catalyst

 

Catalysts are a motivating factor to sell in the near term. Examples include:
​
 

- Relocating for work and needs to sell quickly in order to buy another home.
- Financial emergency
- Frustrated out-of-state owner dealing with difficult tenants.

 

Whatever the reason my be, find it out. If it's enough of a catalyst, there's a high probability you can create a win-win deal.
Wholesalers post their deals for free on OfferMarket.

 

### Are you a wholesaler? [Wholesalers post their deals for free on OfferMarket.](https://www.offermarket.us/sell?ref=guide-real-estate-wholesaling-how-to-find-motivated-sellers)