How We Calculate Our Offers
Have you ever wondered how Asheville Cash Buyers calculates the offers that we make on properties? While there’s no specific formula that we follow, we do have a set of criteria that guides us and helps determine what we can offer for a home. Here’s a quick look at our process:
- We start with the market value of a home. What have similar properties in the same area sold for recently? This number will inform our starting point.
- How much will it cost to get the home ready for sale or rental? This number, which might include repairs and renovations as well as the cost of ownership (taxes, insurance, utilities, opportunity cost, and so forth), is subtracted from the starting price to give us the immediate value of the home.
- Now we take into account realtor fees and closing costs – these costs are deducted from what we can offer for a home, and, after subtracting them from the home’s immediate value, we arrive at a realistic offer for the property.
Every home is unique, and so is every offer – we take into account the specifics of every property when making an offer, but the above guidelines provide a bit of insight into our general process!