This guide walks you through how we calculate our no-obligation cash offer.
Determining the dollar amount we can offer for a home involves a careful valuation process. To arrive at an accurate valuation, our team of real estate experts use a combination of publicly available market data and an in-person visit.
Overview of the Team
If you’re thinking about selling your house to
CoreMark Homes, there are two members of our team who will play a role in generating your offer:
Customer Advisor
This is the first team member that a customer may speak with, usually by phone. The customer advisors’ goal is to collect basic details about your property. If both parties agree to continue the dialog, the customer advisor will schedule an on-site appointment.
Market Expert
The Market Expert is an on-the-ground local real estate professional with a robust understanding of the current market and basic construction knowledge. Your Market Expert meets with you at your home, tours your house, and generates an in-person cash offer at the time of the appointment. With your approval, your Market Expert can draft up a sales contract on the spot or they can leave a printed copy of the offer for your consideration.
Step 1: Market Research
After you submit your information to CoreMark Homes, a Customer Advisor will get in contact to collect info, explain a bit about our process and schedule an appointment.
At this point, we immediately get to work preparing an initial valuation estimate. This is a preliminary estimate of the value of your property we generate using:
- Information gathered during call with a customer advisor
- Comparable sales
- Current market trends
- Comparable Sales
Once we have an appointment on the books, a Market Expert begins to research your immediate neighborhood, starting with locating 3 - 6 comparable properties that have sold during the past 6 months. Comps must meet three criteria:
- Similar characteristics (sq feet, floors, bedrooms and bathrooms)
- Similar external influences (location)
- Similar condition
By looking at the prices of recent sales in your neighborhood, the Market Expert can get a rough idea of what your house might be worth after updates.
Market trends
Market Experts also take note of current market trends. These include how quickly houses are selling and the amount they are selling for compared to their listing price. These market conditions help identify the current demand for similar houses in your neighborhood.
Together, current market conditions and comparable sales help determine the After-Repair Value (ARV) of your house. The ARV is an estimate of what your house may sell for after everything is repaired and updated.
For more information regarding home valuation, visit "
How Much is My House Worth?"
Step 2: Appointment
Appointments usually take less then two hours. During this time, your Market Expert will meet with you to discuss your situation and learn more about your property. Here is what you can expect a Market Expert to do at the appointment:
- Confirm property characteristics
- Complete a survey with you
- Shoot between 50 and 100 photos
Aside from gathering information, your Market Expert should be likable. It’s their job to get to know you and your family’s unique circumstances, needs, and timeline as much as the details of your home.
Step 3: Cash Offer
After completing all necessary steps in the appointment, the Market Expert will finalize your offer. This will include:
Scope of Work
A good understanding of the ARV is one thing, but we must also estimate what it will cost to do the renovations necessary to get us there. As part of creating your cash offer, a comprehensive list of repairs and updates are recorded to generate our Scope of Work. The Scope of Work outlines repairs, construction, and remodeling needed to bring the house to peak market condition. Our goal is to include projects that will add meaningful value to your house, and project accurate cost estimates and timelines for completing those projects.
Once the Scope of Work is completed, the Market Expert uses project details to come to a fair offer that recognizes your situation and highlights what’s important to you.
Step 4: The Contract
The next step is to accept your a cash offer. If you accept, your Market Expert can draft your sales contract on the spot and you can sign via DocuSign. If you need a bit more time, we can leave you a printed copy for your consideration.
For homeowners trying to evaluate their options, our objective is to help guide your decision. Our assessment, Scope of Work and offer are provided free of charge. We want to empower sellers with all of the information needed to make the best decision. If you decide not to accept our offer, in the least, we can be satisfied to help you understand your options.
If you're still on the fence regarding a cash offer, be sure to visit
"How to Calculate Net Proceeds from a Home Sale" for more information regarding how to calculate net proceeds from a traditional home sale.
Step 5: What’s Next?
Once you sign a purchase and sale agreement, the process isn’t over just yet. There are still a few more steps you’ll want to be aware of.
Escrow
When a contract is signed, we open an escrow account. Escrow is a licensed third party that helps us complete the sale of the property. Escrow will gather documents from all parties, collect funds, and distribute proceeds.
Title
We also use a third party title company to research the history of the property and discover any liens that may be recorded against the property. The title company will also record the transfer of the deed with the official county records department when escrow closes.
Home Inspection
We will perform a third party home inspection and possible appraisal. The inspection typically takes up to four hours and will be performed by a licensed home inspector. The home inspection helps our construction team confirm their initial budget and will also let us know of any issues that may have been missed during our initial appointment.
Disclosures
Each state requires different disclosures to be signed by both the buyer and seller during a real estate transaction. Our closing team will provide these to you for completion and are able to answer any questions you might have during the process. All paperwork requiring signatures will be delivered to you via a mobile notary.
Closing
Once you are able to move out we will do a quick walk through to confirm vacancy of the property and then close escrow. You have the option to close in as little as 10 days, or take your time and move up to 60 days after accepting our offer.
If you are ready to list your property, we would love to purchase your home today “as-is”. Find out how much you can save on closing costs and other home-selling expenses with a free quote.
