Sold For Sale Real Estate Sign in Front of New House.
If you have ever thought about selling your house to a cash homebuyer, one of your first questions is probably simple: How do they actually work, and how do they decide what to offer?
Ben Souchek of Seven Days Cash Home Buyers said the process starts with understanding both the property and the seller’s needs.
“We want to know: What problem can we solve and how can we provide value to the seller?” he said.
When a homeowner reaches out or fills out a form online, the team gathers basic information about the property and then follows up to confirm the details and ask a few more questions. The goal is not just to collect specs but to understand the seller’s situation.
From there, the company researches the home itself. That includes reviewing online property data and local sales of comparable properties to estimate what the property could be worth in strong market condition.
“That’s our starting point,” he said, “what the house could be worth if it were in good condition.”
The next step is an in-person visit. During that walkthrough, the buyer evaluates the condition of the home and identifies anything that may affect value. Kitchens, bathrooms, roofing, HVAC systems and general upkeep all play a role. A home with dated finishes or major repair needs will obviously require more investment before it can reach full market potential.
Once that review is complete, the offer comes down to a formula, potential resale value, minus expenses, minus repairs, minus profit.
Souchek said transaction costs are a major part of that calculation. Even when sellers are told they do not have to pay commissions or closing costs, those expenses still exist and must be absorbed by the buyer.
“Some people say, ‘You told us we don’t have to pay any of that,’ and that’s correct,” he said. “But we still have to account for it, because we have to pay those things.”
Those costs can include title fees, title insurance, recording fees, pest inspections and in some cases buyer-related closing costs that sellers often cover in a traditional sale. According to Souchek, factoring those expenses into the offer is part of being transparent.
“I just feel that to be very transparent, our offers are a net offer to you, the seller,” he said. “And then, of course, we take into account, hopefully, some type of profit. We have to be competitive. Otherwise, we won’t buy any houses.”
A cash buyer is not pricing a home the same way a retail buyer would. The offer reflects not only the home’s current condition, but also the money and risk involved in getting it market-ready.
“If a seller has no debt or very little debt, we sometimes can pay a much higher overall price for a house if we can make payments to a seller,” he said. “If we can be of value to you, we’d be happy to see if we can be a great solution for you.”
Visit 7dayscash.com to learn more and click here to watch a video featuring Ben Souchek of Seven Days Cash Home Buyers.
