How Do I Sell My House in Detroit?

We Pay Cash for Your House In The Detroit Metro Area

Step 1

CONTACT US

Fill in the form below or call/text us at (313) 246-8069‪. From there we can present you an initial cash offer range.

Step 2

GET YOUR OFFER

If our offer range works for you, we will schedule a walkthrough to estimate repair costs. Within 24 hours, we will contact you with a no-obligation cash offer.

Step 3

GET PAID

If you accept our cash offer, we will set a closing date with a reputable local title company, pay closing costs, and you’ll get paid on closing day. That simple!

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Selling Your House In The Detroit Area To The Money Team…

1) What Info Will You Need From Me?

Sell your house in the Detroit area fast by helping us gather some basic information about your home sale.

  • Timeline to sell your property
  • Current condition of the property
  • Rooms that were renovated (if any)
  • Your ultimate goal with the property

This information will help us figure out how we can provide the best solution for you (potentially beyond the typical cash offer).

2) Do You Give Your Cash Offer Right Away?

No… We do not give our exact cash offer during the initial conversation, but we will give you an initial offer RANGE.

Why Not? Other “We Buy Houses” Companies Make Offers Right Away On The Phone…

These companies will give you an inflated offer to sucker you in and lock you up in a legally binding contract. They will then use an “inspection report” to come back and ask for a price reduction.

This tactic is used more than you would think by multiple buyers in our DC market. It gives cash home buyers a bad name, and we hate it!

3) How Do I Know You’re Not Going To Lowball Me?

If we made lowball offers, we would not be in business…

It is in our best interest to make you a fair cash offer because that is partly how we will beat our competition!

Our entire business is based on buying houses in the Detroit area.

If we can’t make fair offers, then we can’t buy houses.

selling my house Detroit

Working With The Money Team Means Finding The Best Fit For Your Home Sale

If the value you have in mind for your home is outside of our offer range, we can discuss a couple options other than a cash offer that may be a better fit. We want to help whether it means you work with us or another company better suited for your situation.

How Our Cash Offer is Calculated…

[YOUR OFFER] = [ARV] – [REPAIR COSTS] – [SELLING COSTS] – [ROI]

After Repair Value (ARV): This is the market value of your home after we buy and renovate your house.

Cost Of Repairs: This is what we estimate our cost will be to update the house to current market conditions, and it’s what you are saving (along with your time) if you sell your house to us!

Our Selling Costs: This is an estimate of the cost of selling commissions, excise tax, property tax, utilities, insurance (title and property and escrow fees.) It’s typically around 10% of the ARV.

Return On Investment (ROI): This is how we pay our contractors and keep the business running. If we didn’t return some level of profit, we wouldn’t be a great business!

“I Don’t Like Formulas. Can You Break This Down For Me?”

The market value of your home (after we update it) minus the costs to repair it and our profit equals your offer.

Check Out A Real Case Study

Let’s look at a house we bought in the Detroit area…

selling my house without an agent in the Detroit

Look at the kitchen in this picture.

Not the worst you’ve seen, right?

But, let’s be fair.

It could use some updating…

Now let’s think about your neighbor across the street with the same house as yours.

He updated his 60’s kitchen and bathrooms with granite.

He paid for a new roof and went from carpet to hardwood floors.

Imagine if your house looked like this now…

Well it makes sense that he sold it for $300,000 – it looks amazing!

how do i sell my house in Detroit fast

In order for us to also be able to sell your house for $300K, we need to update your house to at least the same condition as your neighbor’s home!

Why?

Because there is no way we could sell your house in its current state for $300K when all the other houses for sale in your area are upgraded and modern like your neighbor’s.

Would you, as a buyer, be interested in buying a house in older condition for $300K when a much nicer house sells for the same price?

No, of course not!

So let’s ponder the question…

“If my house sells for $300,000 after its been updated, how much is it worth before any updates, as-is, right now?

Here is where The Money Team come in along with our local contractor…

We try to bring our contractor to the initial walkthrough so that we can get an exact estimate on what needs to be repaired and upgraded.

At the end of our walk-through…

We tell our contractor that we need granite countertops because our neighbor who sold his house for $300K has granite as well as hardwood floors, upgraded appliances, a new roof, etc.

Our contractor gives us an accurate estimate for the Cost Of Repairs (COR). 

The more accurate these numbers are, the more accurate (and the higher) your offer will be!

 We take our contractor’s estimate and do our homework so we can make you a fair offer within 24 hours

We are ready to work the numbers!

Say our contractor gives us a cost of repairs of $50K...

ARV (After Repair Value) = $300,000

COR (Cost Of Repairs) = $50,000

Our Selling Cost = 10% x $300,000 = $30,000 

Let’s say Our Profit for this purchase = $20,000

[Your Offer] =  [ARV] – [COR] – [Our Selling Cost] – [Our Profit]

Your Cash Offer = $300K – $50K – $30K – $20K = $200,000

Your Cash Offer = $200,000

Money Team Properties Go By The Numbers

We are not here to waste your time with unrealistic offers. Our offers are not based on “some percentage” of the ARV. Instead, we simply add up the numbers while trying our hardest to give you the highest possible offer. We want to make sure you will be happy and feel confident when selling your house to us!

We’re Not Done, Yet! Let’s Analyze Your Offer…

So, let’s assume your house is worth $230K as-is, meaning if you listed it with an agent you could sell it for $230K and make no changes.

However, after 10% (or $23,000) in agent fees and closing costs, you will get about $207K for it, and that’s after it will be on the market for months?!

And no one can guarantee the house will actually sell for $230K.

So, now it’s time for you to make a decision…

Option 1: Sell it for a guaranteed cash sale of $200,000 in as little as 7 days.

Option 2: Hopefully sell for $207,000 where, if all goes well, bank financing doesn’t fall through and your closing date doesn’t get delayed.

…But Wait!

What if the cost of repairs was $30,000 instead of $50,000?

Here is where things get interesting.

Let’s look at the numbers again…

ARV (After Repair Value) = $300,000

COR (Cost Of Repairs) = $30,000

Our Selling Cost = 10% x $300,000 = $30,000 

Let’s say Our Minimum Profit for this purchase = $20,000

[Your Offer] =  [ARV] – [COR] – [Our Selling Cost] – [Our Profit]

Your Cash Offer = $300K – $30K – $30K – $20K = $220,000

That’s right! Almost $15K more than what you would get if you had listed it as-is with a real estate agent (remember that you would only get $207k after subtracting all agent fees and closing costs.) 

sell my house for cash Detroit

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What Makes Our Offers Better In The Detroit area?

moneyteamproperties

The other guys never explain why!

Here is our explanation as to why our offers are first-rate…

If you choose the fast cash offer for your home sale, we guarantee our offer will be honest and fair.

However, it will not be for “full market value.” (We’re just being honest.)

Our cash offers will be as high as we are able to make them due to how efficient we’ve made our business over the years.

Some of our other home sale options can bring you even more than full market value. You read that right, more.

However, these options depend on the type of property you’re holding, etc.

Give us a call/text at (313) 246-8069‪ to learn about these other options. We want you to have a successful home sale. 🙂

Why Sell To You Instead Of Listing With A Realtor?

Even in a seller’s market, it’s smart to look at ALL of your options (check out our blog to help with this exploration) to see what will actually help you best reach your goals with the sale of your house.

While you may be able to get a higher “top line” sales price listing with a local agent, that doesn’t always boil down to more money in your pocket or less headache.

Let’s compare selling your house in the Detroit area to Money Team Properties vs. with a local real estate agent… 

Selling To The Money Team

  • You pay 0% in commission and NO fees.
  • We pay ALL closing costs.
  • Close within 7-28 days or on your timeline.
  • Sell in “as-is” condition without making any repairs.
  • No formal inspections.
  • No open houses or endless walkthroughs.
  • No appraisal or financing contingencies.

Selling With A Real Estate Agent

  • You typically pay 6% of the sales price in commission.
  • You pay 2%-4% of the sales price in closing costs.
  • Closing can take 60-90 days after accepting an offer.
  • You need to make repairs to bring your home up to market standards.
  • Many buyers request an inspection, which can drop the sale price or result in more repairs.
  • Sometimes there are 20+ showings and open houses.
  • If an appraisal comes back lower than expected, you may be forced to lower your sale price.

SCAM ALERT!

“How Do I Know You Will Close? And That This Is NOT A Scam?”

There are so many new investors and scammers out there that you’re smart to be questioning this. Getting the highest offer for your home means nothing if the buyer reduces the price after an “inspection”, cannot close, and the deal falls through. It’s very common for sellers to reach out to us after one (or sometimes multiple) failed closings with another “We buy houses” company in our area. They are frustrated and distrustful of investors.

That’s where Money Team Properties is different. Our small team makes honest and fair offers with the intent to close, always. We’ve been in business since 2012 and we have a 100% close-rate (you read that right). Our offer will not be reduced later in the process. That’s why we receive so many positive reviews! 🙂

“How Can I Avoid Being Scammed?”

how do I avoid getting scammed Professional Website

A business’s website is a direct reflection of who they are as a business and personally. Explore the site to see if the company shows who the people are behind the business. Look for pictures of the owner(s) and any possible employees. Check if they give you their names (first and last names are important, so you can cross check if they are a real person on Google).

how do I avoid getting scammed Online Reviews

A legitimate business will have reviews online. We’re not talking about text inserted on the business’s home page… check for reputable Google or Facebook reviews, as well as seller testimonials.

how do I avoid getting scammed Contract Terms

Don’t fall for the 30-day close on the purchase agreement… IT DOESN’T TAKE 30 DAYS TO CLOSE A PROPERTY (unless YOU requested a longer close). The Money Team puts 2-week closes on our purchase agreements (and we generally close much faster than that). Many scammers use “weasel clauses” to leave a backdoor open for themselves. These are signs a buyer is not serious about closing.

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Still have questions? Please visit our frequently asked questions page or give us a call/text to find out more at (313) 246-8069‪. We are happy to chat with you before you submit your property information. 🙂