How We Determine Your Offer Price
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Neighborhood Comparables
Unlike many cash home buyers, at FlipSplit, we’re committed to giving you a fair offer that accurately reflects your home’s value. We’ll dig through all the most recent sales in your neighborhood and select the closest comparables to your property to give it the best valuation we possibly can.
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Property Condition
Every property’s condition is different. Based on the amount of renovations needed, we’ll be able to firm up our offer price. Luckily, we buy properties in any condition, from homes at risk of foreclosure to burdensome houses that you’re looking to get off your hands.
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Market Direction
Understanding where the market is heading is crucial. At FlipSplit, we take all market conditions into account when determining your home’s value, to make sure you are receiving a fair cash offer. In an increasing market we may project a future resale price above what the current market dictates. Conversely, if market conditions are pointing to a slowdown, we’ll have to account for that as well.
FlipSplit vs. Traditional Sale
Cost Comparison
FlipSplit | Traditional | |
---|---|---|
Offer Price | $1,050,000 | $1,100,000 |
Transaction Costs
FlipSplit | Traditional | |
---|---|---|
Commissions & Closing Costs | 0% | 6.5% |
Sales Preparation & Repair Costs
FlipSplit | Traditional | |
---|---|---|
Estimated Repairs in Escrow | 0% | 2% |
FlipSplit | Traditional | |
Timezone to Close Escrow | Seller Choice | Unknown |
Cost Comparison
FlipSplit | Traditional |
---|---|
$1,050,000 | $1,100,000 |
Transaction Costs
FlipSplit | Traditional |
---|---|
0% | 6.5% |
Sales Preparation & Repair Costs
FlipSplit | Traditional |
---|---|
0% | 2% |
FlipSplit | Traditional |
---|---|
Seller Choice | Unknown |
Estimated Sales Proceeds | |
---|---|
FlipSplit | Traditional |
$1,050,000 | $1,006,500 |
Estimated Sales Proceeds | $1,050,000 | $1,006,500 |
Changing Math Equations to Help Homeowners
Even if you hate math, you’re going to like the result of this equation!
Traditionally, cash home buyers purchase your home for cash, renovate it and then keep whatever profits they make in total, profiting off home sellers by making offers below fair market value. The equation looks like this:
Seeing the exorbitant amount of money these home buyers were making (by undercutting the seller) frustrated us. So we changed the math equation to protect you (the homeowner):
Utilizing Big Company Benefits for the Individual Homeowner
There’s a fun economics term called “Economies of Scale” which basically means the more you order in quantity the cheaper each individual item becomes. As a house flipping company, this is no different: since we order building materials in higher quantities, we are able to do renovations with greater quality and at a lower cost than a regular consumer could do on their own (typically 20% to 40% on average). We then pass these savings on to you, as part of the profits from the final home sale, since you participate in the backend!
Common Pricing Questions
Does FlipSplit buy my house upfront or just pay for the renovations?
FlipSplit will purchase your home upfront for all cash. Unlike most other cash home buying companies that pay for your renovations and make money on the rehab, we give the seller what their home is worth in fair market value upfront. We only make money off the value we add through renovations on the property.
If FlipSplit pays fair market value for my home, how do they make money?
Content Coming Soon
Why does FlipSplit make a small profit before we start splitting 50/50?
Content Coming Soon
What other transaction costs are associated with selling to FlipSplit?
Content Coming Soon
Customer Testimonials
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Value
Added12%
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Days on
market8
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Splittable
Profits$27k
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Seller
Bonus$13.5k
Steve & DebbieMission Viejo, CA
Read the Full Story-
Value
Added10%
-
Days on
market2
-
Splittable
Profits$10k
-
Seller
Bonus$5k
The Firpo Family
Read the Full Story