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Time Wasters: These are people who have actually just recently participated in a 2-day realty seminar at the local Holiday Inn and are going through the motions to attempt to become genuine estate financiers. They account for about 90% of the signs you will see. 2. Official Info Here : There are clever intruders who use the We Purchase Homes for Money gimmick to be invited into houses and to determine if this is a home they wish to rob at a later time.

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3. Wholesalers: These are the individuals whose part-time task is to find homeowners who are prepared to offer their homes at a discount rate well listed below the real retail value. They are not the ones who in fact purchase your homes even if they are providing you a written Purchase Agreement. Generally, after they get a house under contract for a cost that is extremely below retail value, they will then "designate" the purchase contract to an end purchaser who is most likely a professional rehabber.

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Simply put, they are generally offering the signed Purchase Arrangement they have with a homeowner to someone else for a fast buck. 4. Rehabbers: These are individuals who actually will purchase your house at 35% listed below retail value from you. They will then fix it up & then turn (sell) the property at the full retail value utilizing a real estate agent.

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How much do these people offer and how do they calculate it? They have a simple formula that they follow to calculate the MAO (Optimum Allowable Offer). ARV generally indicates the worth of the home if it was repaired up nicely and sell through a Realtor. Whoever visits your home will be estimating out the repairs needed and will then call their Real estate agent to learn how much equivalent houses (compensations) are offering for in your area.

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Keep in mind, that two different rehabbers can have incredibly different quotes of how much repair work will cost. So the formula for Maximum Allowable Deal is written as the following: Let's do an example with real numbers: Suppose you owned a home in Paramus and called a rehabber or wholesaler off among the "We Buy Homes Quick for Money" signs.