Typical Chattanooga House Flip

Overview

Are you needing to sell your house in Chattanooga and are curious what happens to your house after you sell it?  Is the house you are selling important to you?  Maybe it is your childhood home that your parents lived in and you want to know it will get restored and go to a new family to enjoy.

I wrote this post to show you what a typical Chattanooga house flip looks like after you sell to me.  Three months ago, we purchased this 2 bedroom, 1 bath house to renovate and resell in Chattanooga, TN.  The owner had inherited the house from his elderly father who had recently passed away.  The son lived over seven hours from Chattanooga and was therefore not able to hire contractors to modernize the house and get it ready for resale.  This is not uncommon.  Oftentimes, adult children inherit a parent’s home and it hasn’t been updated in 20 to 30 years.  Having an outdated house that needs $25,000 to $50,000 of repairs is difficult to get a realtor to list or sale.  This seller was looking for a buyer that would pay cash and could close without any contingencies.

Seller’s Problem

  • Son inherited a house that was not in a condition to sell with a realtor.
  • Seller would like to sell quickly to a qualified buyer that won’t nit pick small details, has money to close, can close quickly, and won’t back out at the last minute.
  • Seller lived several hours away from house and just wanted to the

I met the seller one afternoon and the following evening we got together and signed a simple one page contract that allowed the seller the flexibility to close from his house once all the legal documents from the inheritance were settled.

Seller’s Solution

  • Sign a simple one page contract to sell house.
  • Close on seller’s time table. In as little as one week or 6 months from now depending on seller’s preference.
  • Receive cash at closing and move on with their life without the stress of a property to manage.

While we can close quickly (often in less than two weeks), I’ve found most sellers that benefit from selling to me need a flexible closing date that could be anywhere from one month to nine months from the date of the contract.  Since I’m not a typical homeowner buying a house to live in I can be flexible on the closing dates.  Delays related to the seller’s personal situation don’t bother me.  I’m perfectly happy to buy a house two weeks from now or next year.  This gives the seller the peace of mind that they don’t have to rush to move out, settle legal documents, or worry about losing the buyer due to delays.

Repairs on Typical Chattanooga House Flip

  • Complete Clean Out of property
  • New Roof
  • New Windows
  • New Patio Doors
  • New Doors
  • New Plumbing
  • Interior Paint
  • Exterior Paint
  • Kitchen cabinets
  • Kitchen appliances
  • New bathroom
  • Refinished hardwood floors
  • Removed deteriorated retaining wall
  • Excavated lawn to properly drain water away from house.

Check out the before and after photos to see what all went into this remodel.

Before House Flip Photos

 

During House Flip Photos

 

After House Flip Photos

michael

Get More Real Estate Market Info... Subscribe Below!

Learn more about us and find other resources on selling your house below. Like us, follow us, connect!

,

No comments yet.

Leave a Reply