What fees, closing costs or commissions are involved in selling my home to FlipSplit?
Absolutely ZERO. You will receive 100% of the amount we offer you. There are no hidden fees.
In what area will FlipSplit buy a home?
Currently, we are purchasing homes throughout Southern California. Specifically, Los Angeles, Ventura, Orange, Riverside, San Bernardino and San Diego County. We anticipate expanding into new markets in the near future.
Is there a cost for a home evaluation before receiving an offer?
Absolutely not! We’re happy to provide you with a free no-obligation offer and a free home evaluation.
Is FlipSplit a home flipper?
Absolutely yes, and proudly. “Flipping” is not a bad word or a bad concept. In fact, it is a good one built on the process of enhancing beauty and value where it has been obscured by the effects of time, use, or even willful neglect. It eventually happens to EVERY home if things aren’t regularly repaired or upgraded, including yours! In many instances “flipping” is necessary for a home to be restored to a ‘new’ condition so that it is desirable and immediately useful to a greater percentage of home buyers. A tastefully improved home satisfies the required tastes of today’s discerning home buyer while simultaneously elevating the value of the home and surrounding neighborhood. Flipping is tough work with a lot of potential pitfalls, but when done the right way by the right people, it keeps homes and neighborhoods beautiful and safe. We have successfully flipped over 2,000+ homes over the years and provide valuable benefits to both sellers and buyers of property.
My home is already in great condition but I want to sell it quickly and without the hassle of showings. Is FlipSplit right for me?
If convenience and a fair price for your home are your hot buttons, then yes, we can easily provide that. In an instance like this, our pricing will be competitive with other larger iBuyers. But, this would be for a seller that prioritized convenience over price. However, in the event that our resale price still exceeds our stated projections to you, you would receive a split of those extra proceeds! Our commitment to never under-pay for your home applies to homes in great condition…..or a home that is beat up from the ground up! Our Profit Split Agreement is your protection and our promise!
Will FlipSplit purchase a home that is not in terrible condition?
Absolutely yes! We buy homes of all shapes, conditions, and sizes. We can add value in many different strategic ways that you might not be currently aware of.
Do I as a seller get involved with any repairs or upgrades to the property?
No. FlipSplit pays for 100% of these upgrades and we use our proven contractors to do the work. You relax!
Can I just sell my home to FlipSplit and NOT be involved with any profit splitting scenario?
Yes, if you really want to. But why would you?
Does FlipSplit share the needed property upgrades with me?
Yes! We will be very transparent with you and give you our estimated budget for the repairs up front. As with all construction projects, things can change mid-construction, but we will be fully transparent in our initial construction budget along with our final construction costs.
Will FlipSplit tell me what they intend to re-sell the property for after the upgrades?
Yes, of course! You will receive with your initial offer a projected sales price goal for the finished property. We will be fully transparent and honest with you about all projections related to renovation costs and our final exit price up front. Additionally, will be fully transparent with you about the final actual renovation costs and exit price when the property has finally re-sold. We’ll substantiate it all for you with a closing statement. Full transparency with you is our firm commitment.
Can I visit the property and see the upgrades during construction?
Unfortunately, no. This is an insurance no-no in our world. But, after all the renovations are completed we would be more than happy to schedule a walk-through preview for you! Or, we’d be happy to send you final photos showing all the completed renovations.
Will FlipSplit purchase my house or condo with a tenant in place?
Yes, but the length of the remaining lease is a factor as it relates to the price we are able to offer you. An unoccupied property will receive a higher offer compared to a property with an ongoing tenant in place.
How should I compare a FlipSplit offer to any other offer?
For the initial sale, it is all about comparing your Sales Proceeds at the close of escrow. Don’t be fooled into thinking the highest number quoted to you up front is your best offer, while ignoring all the fees, commissions, and closing costs. The highest offer is almost always NOT your best offer when you consider all the hidden ‘fees and costs’. At the end of the day it is the size of the check or wire that you receive when the transaction is completed that matters. You want to compare apples to apples. Oh, and there is always the looming ‘profit split kicker’ from FlipSplit that awaits you after we finish our renovations. This is the cherry on the sundae.
How quickly can you buy my house?
If you hustle, we could potentially purchase it within 48-72 hours. But, we can also accommodate a purchase within the next 90 days. It’s really up to you. Just let us know!
Can I get some money before I actually sell my house to FlipSplit?
Yes. We can get you as much as $20,000 prior to the close of escrow for your cash flow needs. (We would simply need to have all final inspections completed prior to releasing the funds to you.) Your FlipSplit Advisor can give you more details about what is necessary to release the funds to you.
When would I receive my additional ‘profit split’ payment?
The profit split payment would be paid to you within 10 days AFTER the property has been renovated and re-sold. This portion is simply the ‘profit split’ portion. You will have received the ‘offer price’ proceeds in the initial sale of your property to FlipSplit. So, you get quick cash in your initial sale at the close of escrow. But, you’ll need to wait for the profit split portion until….well, until we know what the profit is after the renovation and re-sale!
Can I leave trash or furniture behind when I sell to FlipSplit?
Yes. You can leave anything you don’t want to remove. Trash and old furniture stacked to the ceiling is not unfamiliar to us. We want to make it easiest for you! Just advise your FlipSplit Advisor what you intend to leave behind.
Do I have any liability after I have sold my home to FlipSplit?
No way! FlipSplit holds and carries 100% of the risk related to the construction and downside market risk.
Am I guaranteed a profit split?
If life were only this certain! No. But, if there is no profit split for you at the end of the rainbow it is because there was no excess profit to split. In the event there is no profit split, the silver lining is that you can rest assured that the amount you received upfront was truly top dollar. If we would have had a crystal ball as to the final results, we would have chosen to offer you less for your property upfront. But, you can smile that you received top dollar in the initial sale to FlipSplit and we simply weren’t able to increase the value of the property to the degree we had hoped.
How is FlipSplit different than other iBuyers of flippers?
FlipSplit will purchase distressed and dated properties that are rejected by iBuyers for their condition. We love hammered homes that are beat up from the ground up! Additionally, we charge absolutely zero fees and we have a profit-split component that puts all others to shame. Our high volume of transactions allows us to work for a smaller profit for ourselves which means a higher sales price for you. (And finally, we don’t get paid up-front simply to facilitate a transaction. That business model rarely makes sense for a seller. We only get paid when we add value and profitability to a home.)