Seller Series: How to “Flip” Your Home Before You Sell–Without Paying for It
You’ve watched HGTV and been inspired to see your home through buyer’s eyes, right? My mom called me recently and told me about the HGTV show “Unsellable Houses,” where twin sisters from Washington take ugly homes and get them ready for market. Even she’s inspired!
It’s no secret that buyers love a home that is move-in ready or “turnkey.” There are few that want a passion project from 1990, thus not many buyers that would want to purchase your home if it needs some work. Add to the equation that many buyers are taking advantage of low interest rates and they are even less excited about orchestrating a giant remodel after forking over all their funds to win in a seller’s market.
We get calls all the time from homeowners who have had big plans to remodel, but raising kids, working, or not knowing where to begin has gotten in the way of getting the project started. We also get calls where projects have been started, but time or lack of contractors got in the way of finishing. Or maybe you’ve loved every minute in your home just as it is and have no idea why everyone loves shiplap, but know it will get you more money when you sell…so now that you are ready to part with your home, you are ready to hand the design idea to someone else, but you still want the return on the investment that a remodel will bring.
Whatever your reason, we’ve got you. And I have it figured out for you in 5 easy steps:
1. You provide the home that needs remodeling.
2. We provide the designer ideas that will appeal to the most buyers.
3. We provide the contractors who can get the job done.
4. We front the cash to fund your remodel.
5. We list your home and bring you more money when you sell.
So let’s dig in!
Step 1
You provide the home that needs remodeling
Give us a call at (253) 313-4093, and invite us over to see your home. Sometimes we hear, “Look past the mess, we aren’t ready ready,” but trust me, girl—we’ve seen it all and we never judge. Heck, I sold my house mid-remodel and had no apologies. We will meet with you and give you the as-is price of your home and the post remodel price. We talk numbers and get deep: we take into account all real estate fees, seller-paid closing costs, and rough remodel budget. You’ll have an idea of the net cost before you even start so you can decide if it’s a good idea based on your holding costs. We can usually finish a decent size remodel in 3-6 weeks depending on the scope of work and how easily accessible the home is; remodels of occupied homes take about 12 days longer. As long as you are committed to listing with us (remodel or not), we move on to step two.
Step 2
We provide the designer ideas that will appeal to the most buyers
Our designer comes to your home, at no cost or obligation to do the remodel. We talk through her ideas and dream boards (complete with links for purchasing), so you won’t have to stress about color choices, light fixture prices, flooring styles, or any of the other things. We are here to remove the overwhelm.
At this point you really have two options:
A) You can do the whole remodel yourself and save on the labor costs, in which case our designer will provide you with the style guide and all the links for purchasing products. Basically it will be a DIY remodel with a roadmap for what to buy and what to do for the biggest return.
OR
B) You can hire our designer and she can help manage the project from start to finish. She’s like a real life “Fairy Godmother” for your house.
If you decide to go with option B, then we move on to the next step.
Step 3
We provide the contractors who can get the job done
We coordinate all the work with the contractors you choose. Don’t know of any contractors? Don’t worry. We know all the top ones in Gig Harbor and can provide you with a list of all the best in each trade, as well as the ones that are available for your project. With a little lead time we can secure a slot on their calendar and get your project on the books in no time at all. No nightmare scenarios about waiting 6 months to paint your interior–we’ve got your back.
Step 4
We front the cash to fund your remodel
It all sounds like fun and games until you see the bill. Not to worry: by this step we have a scope of work and a budget from our contractors for each part of the project, so we will sit down with you to go over every line item for approval. You control the scope of work and the budget as we navigate this home renovation journey.
Who pays? We cover the cost up front so contractors stay happy, and when we sell your home for top dollar you pay us back out of the escrow proceeds. Sounds too good to be true, right? But it’s not. As a real estate agent and lover of a good opportunity, it is my fiduciary responsibility to tell my clients what they can do to sell their home for “all the money.” There are few times when the market is going to be this HOT HOT HOT to get this much extra over value, so I provide this service through our partners to get my clients the absolute most for their home. No strings attached.
Any agent can “sell your home” because in a market where there are only 40 homes to sell in a given week in Gig Harbor, people will probably buy it. BUT, when you sell at an as-is price you get an offer that is like a wholesale version of your price. For example, you could sell your home as-is for $650,000, or put $35,000 into it (flooring, paint, new vanities, light fixtures, kitchen refresh) and get $730,000 for it, before multiple offers. That is a return of $45,000 for just a month of remodeling your home. Those are incredible returns! If you have the time and flexibility to invest in your home, we will fund it.
Step 5
We list your home and bring you more money when you sell
Once your home is refreshed and revived, we are ready for market. Our cleaners come and do a final “sweep,” we professionally stage it with the trending decor, and then we bring our media team out for video, 3D tours, professional photos, and all the assets necessary to promote your home to the MLS, other agents, social media, and your neighbors. We will hold open houses, tour live on video, and give private showings for brokers and buyers to make sure your home gets shown to every possible buyer out there. Our marketing team is the best in the business, that’s why we are the top ranking real estate agents in Gig Harbor.
We bring you a buyer, oftentimes in 5 days or less, and sign a contract that makes your heart flutter. Thirty days from mutual acceptance, we dance to the closing table and you’ll see those dolla dolla bills hit your bank account. We’ll clink our champagne glasses and toast to a job well done, and hopefully you’ll write us a glowing review, like these sellers have.
And That’s It!
It really is that easy. The only thing that would make it easier is if you already bought your next home, gave us the keys to your “Cinderella Home,” and we took it from there—which is what lots of sellers do (“Here are the keys, Paige. Shine her up and send us a check…”). If that’s the route you want to go, we’ll keep you in the loop with weekly video updates and phone calls whenever you need them.
Whether you are interested in just a refresh, new carpet, and paint, or a full Revive remodel—bathrooms, floors, paint, light fixtures—we are here for you! (Take a look at the recent Revive home projects we’ve completed, both of which received over asking price: 14011 141st Avenue NW, 18110 Roberts Road NW.)
Give us a call and we can walk you through where your biggest return on investment is. And if we don’t think you need to lift a finger, we will tell you. Like I said, I am here to make sure you maximize your profits as quickly as possible, so if a 4-week remodel isn’t going to be worth it, I’ll tell you. My reputation is built on honesty and integrity—you’ll always hear it straight from us.
Let’s get started with what your home is worth and if it’s a candidate for our Home-Selling Fairy Godmother to work her magic. Give us a call at (253) 313-4093 or email paige@askpaigeschulte.com.
Cheers and Happy Home Selling,
Paige Schulte
Schulte & Co
Neighborhood Experts