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Time Wasters: These are individuals who have just recently participated in a 2-day real estate seminar at the local Holiday Inn and are going through the movements to try to become real estate financiers. They represent about 90% of the signs you will see. 2. Burglars: There are clever robbers who use the We Purchase Homes for Cash trick to be invited into houses and to find out if this is a home they wish to rob at a later time.

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3. Wholesalers: These are the people whose part-time task is to discover homeowners who want to sell their houses at a discount well listed below the actual retail value. They are not the ones who in fact buy your houses even if they are providing you a written Purchase Agreement. Usually, after they get a home under contract for a cost that is incredibly below retail value, they will then "assign" the purchase agreement to an end buyer who is most likely a professional rehabber.

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In other words, they are generally selling the signed Purchase Contract they have with a property owner to someone else for a quick dollar. 4. Rehabbers: These are individuals who really will purchase your home at 35% listed below retail value from you. They will then repair it up & then turn (sell) the home at the full retail value using a real estate agent.

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How much do these individuals offer and how do they compute it? They have an easy formula that they follow to determine the MAO (Optimum Allowable Offer). ARV essentially means the worth of the home if it was fixed up perfectly and sell through a Realtor. Whoever visits your house will be approximating out the repairs needed and will then contact their Real estate agent to learn just how much similar houses (compensations) are costing in your area.

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Keep in mind, that 2 different rehabbers can have exceptionally various price quotes of how much repairs will cost. So  Look At This Piece  for Optimum Allowable Offer is composed as the following: Let's do an example with real numbers: Suppose you owned a house in Paramus and called a rehabber or wholesaler off among the "We Buy Houses Fast for Cash" signs.