Hey everyone, this is Eric Sztanyo from We Buy NKY Houses, where we buy houses for cash in Cincinnati and Northern Kentucky. I wanted to reach out and make this video because in our current situation we find ourself stuck inside with the COVID-19 pandemic and the stay-at-home orders. There’s a lot of questions from sellers rightnow because there is so much uncertainty. Right? We’re all trying to stay home. We’re all trying to be safe. And the question we’re getting asked all the time is, can I still sell my house during COVID-19? And what’s the deal? How do I do that safely?
This video should help to answer some of your questions!
The answer is yes! Homes are still being bought and sold all over Cincinnati and Northern Kentucky, both on the market and with cash home buyers. Now there’s some safe ways to do that. Some people are are turning to virtual tours for their showings. A lot of people are doing even virtual listing appointments, where if you don’t actually want anyone in your home, that’s understandable right now. You can walk around with a cell phone and do a video showing. There is a lot of different ways you can allow a home buyer to work out a deal. You can also do Zoom meetings to talk about numbers and all of that with the technology that we have.
Why now may be a great time to sell
Another update that I wanted to give you is, if you are looking to sell your home to a cash home buyer, if you need to sell your house fast for cash, what we’ve seen recently in the last week or so is a lot of the national iBuyers are backing out. These are companies like Zillow. Redfin or Open Door, companies that have these national presence, they’ve all backed out. None of them are making offers right now and they have even backed out of some of the deals that they had already had inplace. Why are they doing that? Well, there’s a couple of reasons. The biggest reason is their margins are so thin that if the market dips at all, it just doesn’t work for their business model.
Some takeaways for you. If you’re a local seller and you’re looking for options, one takeaway is there’s less cash buyers out there right now, investors who will buy your home fast for cash. So, the second thing that you need to consider is what you’re seeing from these national tech cash buyers, which is that they don’t really care about the local level. Right? They care on a national level and they certainly care about profit.
Why We Buy NKY Houses is different than other home buying companies
However, when you’re working with someone like us, We Buy NKY Houses, we live here in the community. I’ve lived here my whole life. I’ve lived here for over 30 years now in both Northern Kentucky and Anderson Township, Cincinnati. I’ve lived both sides of the river and I care about our community deeply.
When we come out to a seller who’s looking to sell their home fast, they’ve usually got some kind of problem. Generally the calls we get are situations that are not your typical “need to sell your house situations” where we’re going to try to fix it up and put it on the market and get as much money out of it as we can. Typically, there’s another underlying need as to why you need to sell your house fast, and maybe it’s you’re going through a divorce, or maybe you’ve inherited a property that you’re looking to sell among the siblings or something like that. Maybe the home needs just too many repairs, it’s just in really bad shape and you don’t think it could sell well on the market. Maybe you’re relocating. There’s a lot of reasons why you might need to sell your home fast for cash. We get that all the time.
Currently right now with COVID-19, you might have a month or two because of some of the government rollouts with the CARES Act, where banks are not foreclosing and there’s some flexibility in terms of not having to pay your mortgage right now. However, in a month or two, whenever this lets up and you need to sell your house fast, you’re going to want to work with someone who can come in, who can actually solve your problem, and actually has a strong closing rate. That person is me. When we make an offer on a home, we’re going to close on that home over 95% of the time. There’s no question about that!
The other thing I want you guys to realize is that we’re going to be fully honest with our numbers. Yes, we are cash home buyers in Northern Kentucky and Cincinnati, but I’m also a realtor with Keller Williams. When I come out and talk to a seller, I usually will give you both scenarios. I will give you the offer of what I would be willing to pay for your home in cash, as well as evaluate what you may be able to sell it for on the market. The benefits of selling for cash are that you could sell your house AS IS, fast and you don’t have to do a thing.
That’s really nice, but there’s a discount there because as an investor we want to make a profit. Most people understand that and we are very open and honest about our numbers and how we come to our cash offer. It is based on the level of repairs needed, on some of the other fixed costs associated, and based on the profit we want to make. We’re fully open with that!
Then, there’s the other side, which is if I were to put on my real estate agent hat and say, “Hey, okay, the house may not be peak condition. It might not sell for that top market value, but you could sell as is, or you could do these few updates and you could sell for this much.” More than likely, as a seller, you’re going to net more in the end this way. Let’s say you need to pay off your mortgage. You might net more in the end even after paying the real estate agent commission because you’re not having to account for the profit we want to make on the investor side.
Give us a call today!
For us, I’m open either way. We’re not looking to twist anybody’s arms or to to push anyone into a deal. We want every deal we do, whether it’s us buying the house or us listing the home for you, to make sense for you. We want win-win situations where everyone is happy. That’s why you see so many good testimonials on our website and so many good reviews on Google, because people really like working with us. We’re open, we’re honest, and we’re going to try to figure out the best possible way to help you sell your home, whether that’s us buying it or whether that’s us helping you list it on the market and find another buyer for you.
So give us a call if you need to buy or sell your home fast, or you have any questions about the coronavirus, how the market is doing, what we’re seeing, gives us a call, we’d love to talk to you about it. (859) 412-1940. Thanks so much guys, and we’ll hope to talk to you soon.