How It Works
Foote Legacy Real Estate VS Traditional Real Estate Agent
There are many good reasons to work with a cash homebuyer like us. Below, we list the main reasons. We appreciate real estate agents and often collaborate with them. There are some key differences when you sell your home to us versus working with a traditional agent.
| Foote Legacy Real Estate | Traditional | |
|---|---|---|
| Comissions | No Commissions or Fees | 5-6% |
| Repair Cost | $0 | $5000+ |
| Closing Costs | $0 | 7% |
| Avg. Days to Close | 7-14 days | 90 days |
| # of Showings | 0 | Multiple Showings |
| As-Is Sale | Yes | Must Be Market Ready |
How your cash offer is calculated
We want to be open with our home sellers. We understand that trust is crucial in any transaction. The table below shows the basic formula we use to decide if buying your home makes financial sense.
Our Formula
ARV
After Repair Value. This is the expected selling price of the home after renovations.
– Repair Budget
This is how much we estimate the renovation to cost us.
– Cost to Resell
Unfortunately, when we resell, we must pay agent fees. Typical real estate commissions range from 5% to 6%. Closing costs, including title and escrow fees, add another 2% to 5%. Other taxes can also be about 2% to 5%. We expect total costs to be around 10%.
– Profit
Don’t be surprised by our transparency; we need to make a profit to stay operational. Our profits are usually about 10% of the selling price (ARV).
Your Cash Offer
This is the amount we can pay for your home on the closing date you choose. There are no hidden fees or commissions. This number is exactly what we will pay you for your house.