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Our Feature on WQED’s “The Pittsburgh Flip” Documentary

In October 2019, our company and its founder Liz Kazeva were featured in WQED’s documentary on Pittsburgh’s housing market and its notable local real estate investor players.

Liz gave WQED a tour of her 6 unit multifamily intensive renovation project located in Mount Washington.

Check out the video below to watch our segment:

How to Sell Your Pittsburgh Home or Property Without a Realtor

What would it be like to save thousands of dollars on Realtor fees? Here are some powerful and effective ways to sell your home or property in Pittsburgh without hiring and paying for a Realtor:

Are you interested in receiving a no obligation as-is cash offer for your property? Fill out the “Sell Us Your Home” form on our homepage: CLICK HERE. We will make you an offer over the phone!

Holding Costs Vs Closing Costs

At Cash Home Buyer Pros, we divide real estate ownership into 3 different phases: purchase/buying, ownership/holding, and sale/selling. There are different costs associated with each phase. Let’s break this down and see just what they consist of in a customary scenario.

Purchase/Buying:

All of the following items listed are Closing Costs.

  • Title insurance policy
  • recording costs for the Deed
  • mortgage recording
  • wire fees
  • document prep
  • 50% of the total transfer tax amount

Ownership/Holding:

All of the following items listed are Holding Costs.

  • Homeowners insurance
  • Real estate taxes
  • Utilities
  • Mortgage payments (if any)
  • HOA payments (if any)

Sale/Selling:

All of the following items listed are Closing Costs.

  • Deed preparation
  • Title clearance
  • 50% of the total transfer tax amount
  • Dye test inspection and corresponding repairs (if needed)
  • Occupancy inspection and corresponding repairs (if needed)

Are you thinking about selling your property? Do you have questions about these costs? If so, get in touch with us. We’ll be happy to answer your questions and curiosities!

Is flipping expensive for cash home buyers?

Flipping is risky and tougher than it seems on TV, especially in Pittsburgh! More often than not, it usually ends up taking a bit longer and costing more than anticipated from entry to exit. Many home sellers we speak with consider flipping their own house as a possible option for selling.

Let’s break down what all goes into a fix and flip! (We’ll show you a detailed example with realistic figures at the end.)

Pittsburgh cash buyers typically see a return of 20-30% net profit, and a flip takes an average of 4-6 months from entry to exit. The less construction a property needs, the quicker you can sell it. This will shorten your timeline to minimize expenses and maximize profit! A home buyer in search of a flip won’t typically find the risk, time, capital, and effort worth it for anything less than a forecasted 20% net return.

There are 4 main components: Buying costs, holding costs, selling costs, and income tax

Buying costs:

  • Purchase Price
  • Closing costs (usually 3% if paying only the buyer customary costs)
  • Inspections: home, camera sewer, radon, pest, mold (if applicable)
  • appraisal (if applicable)
  • loan origination fees (if applicable)
  • Finders fee (if applicable)

Holding costs:

  • Insurance
  • Utilities (water, electric, gas, sewer, trash)
  • Landscaping/lawn upkeep
  • Taxes
  • Construction (labor and materials)
  • Interest payments (if applicable)

Closing Costs:

  • Realtor fees (if applicable)
  • Closing costs (usually 3%)
  • Seller concessions/seller assist (if applicable)

Income Tax:

  • 25-35% of your net profit based on your ownership structure and tax strategy

Example:

Why Should a Seller Choose Cash Home Buyer Pros?

When working with our team at Cash Home Buyer Pros, we strive to offer unbeatable value, convenience, and benefits.

Here are a few reasons for what makes us different from the rest, and how you benefit:

  • We pay cash and buy as-is
  • We offer a generous purchase price that our competitors won’t
  • We pay all closing costs
  • Seller pays zero Realtor fees
  • We don’t order home inspections or appraisals
  • We don’t ask the seller to make repairs
  • We let you (the seller) choose the closing date; we won’t ask you to leave in a rush
  • Seller may leave any items in the property we buy; don’t worry about spending time or money to clear out or clean the property
  • We can help you find a rental or help you buy a new home if moving out of the home you sell us
  • Decades of experience in brokerage, investment, and construction
  • Guaranteed professionalism
  • Fair, honest, and transparent
  • We only conduct business at the highest standard of ethics and values
  • Even if we do not end up doing business with you, we are happy to connect you with resources and help you create your desired outcome

Why You Should Never Abandon a Property

Abandoned, vacant, and neglected properties are common around Pittsburgh. All too often, we connect with property owners who haven’t seen or done anything with their properties in several years.

Let’s discuss why you should never do this, and if you have done it, why you should take action immediately.

The reason why people do this is because the property may need costly repairs and have issues, there may be mortgage or tax default, or the property was taken over by squatters and non-paying tenants.

You can’t just abandon a property without risking or facing ugly consequences. Perhaps the biggest consequence is legal liability.

As long as a property is in your name, you are held legally liable for it. Imagine if someone were to enter the property, and claim that they became severely injured when meandering on your property, and you find out by receiving a startling piece of mail regarding a lawsuit from a personal injury attorney. There are unfortunately predatory people out there who look for opportunities like this to take advantage of.

Other important reasons why you should never abandon a property you no longer want:

  • risk of vandalism
  • animal/pest damage
  • water and moisture/mold damage from neglected roof/gutters
  • frozen and busted pipes from not controlling the temperature of the home or a brutal winter
  • Abandoned and vacant properties deteriorate faster
  • Easy target for a “midnight plumber” (someone who breaks in, breaks open your drywall, and steals your pipes to scrap for quick cash)
  • risk of code violations, fees, fines, and legal threats from your local code enforcement and municipality
  • angry and frustrated neighbors whose properties and well being are impacted by the issues of the vacant and abandoned properties next to theirs