Paying for Pre-sale Home Renovations

15 West Homes January 4, 2021

Who doesn’t like good BEFORE and AFTER photos…especially of a home? The photos below were from “Before” a recent renovation of my client’s investment property, which he was looking to sell. He knew he needed to update everything in the condo to turn a profit on the sale. In fact, without doing any renovations, he probably would have had to sell the property “as is” and lost money.

And why sell a property “as is,” only for an investor or “flipper” to do the renovation and make a profit? It’s your property…you deserve to be the one earning a return on that initial investment…that is, if you can afford to make another investment in the renovation work.

How To Pay for Necessary Pre-Sale Home Renovations if You Don’t Have the Cash

But what happens if you don’t necessarily have tens of thousands of dollars in cash sitting around to plunk down on a renovation project? Well, if you’re looking to SELL the property, some companies will work with you to creatively solve that problem.

My client and I enlisted the help of Bill Cheek of The Smart Homes Group. Bill was introduced to me early this year, pre-pandemic. His business model seemed to fit with exactly what my client needed…a good, reliable contractor who could do a complete renovation of a one-bedroom condo — and wait to receive payment until closing.

Yes, you heard that right. While it’s almost too good to be true, some contractors will agree to do this, especially in a hot Seller’s Market like we’re experiencing right now. After all, when homes are often selling in a matter of days or weeks (especially if they’ve been renovated), it’s not a high risk for the contractor. This condo sold in 6 days!

As you can see from the “After” photos above, we chose all the most popular fixtures and finishes — luxury vinyl plank flooring, light grey paint, white cabinets, granite countertops, a beautiful backsplash, and stainless steel appliances — all in a grey and white color palette. EVERYTHING was updated or replaced, including closets and light fixtures…and even the HVAC unit. Bill is often able to search around to find the best prices, too, as long as you’re somewhat flexible on choices. For example, he knew we wanted stainless steel appliances, white hardwood cabinets, and granite countertops in a white/taupe/grey color palette, and he found high-quality products at a good price.

Contact Bill at The Smart Homes Group for Your Next Home Project

So if you’re thinking about selling a property that needs some work first (whether it’s your primary residence or an investment property), give Bill a call. (But call me, Karen, for the home sale part!!) Even if you’re not looking to sell right away and just searching for a great contractor, Bill and his team tackle traditional jobs like finishing basements, upgrading kitchens and baths, and laying flooring. You name it, they do it. Call him at (813) 732-3982, and let him know I referred you. (I don’t get referral fees for things like this…but I like to let the contractors I’ve used know I have enough confidence in them to keep recommending them! Plus, mentioning Karen and Maggie from 15 West Homes means he will take great care of you!)