After moving into a property that was supposed to be a quick flip, Andrew unknowingly signed up for a years-long project. It eventually came to fruition with a little help from Sundae.
Life is full of unexpected surprises.
That’s what went through Andrew’s head when he realized the home he purchased was in need of more than just cosmetic repairs. Buying a home is stressful enough, but what about when serious issues arise with your property?
This was the scenario that Andrew found himself in when he was handed the keys to his new fixer upper home. He bought looking to do a fix and flip, but was soon out of his depth once learning that there were significant issues with the structure. After expiring all other options, Andrew’s search would eventually lead him to closing on his terms with Sundae.
Here is Andrew’s six and a half year journey to eventually finding peace after listing his home on Sundae’s Marketplace.
An unexpected delay
When Andrew purchased the property in 2015, he knew that it needed some cosmetic updates. The plan was to move in and fix up the property with the goal of ultimately selling for a higher price than he paid. Andrew had initially planned on doing some floor work and painting and calling it a day. To his surprise, it would take just over six and a half years to move out.
The first challenge manifested itself as asbestos throughout the entire structure of the home. What was initially supposed to be a cosmetic fix and flip quickly turned into a full time job. Feeling trapped, Andrew began to contemplate his options. “There was no way that we wanted to live with that or pass it along to somebody else in that condition.” recounted Andrew.
After he had learned of all the repairs needed to get his home ready to sell, Andrew decided to move his belongings into the garage while the house was fixed. With the majority of his finances put into this property, moving out while repairs took place just didn’t make sense. Additionally, Andrew decided not to take out a loan to complete the renovations. “We didn’t want to take on any more added debt on top of what we had already put into it.”
Selling on the MLS was not an option that Andrew could afford. After taking out a few different loans to fund the renovations, taking out another was out of the question. The property was half-finished, so the current renovations would need to be completed before moving forward. Instead, selling to a buyer who would take the property as-is sounded too good to be true.
Six and a half years later, Andrew decided it was time to sell to an investor who could complete the repairs.
Read more: How Much Does It Cost to Sell a House?
An off-market solution
One day as he was driving through the Inland Empire region of California listening to his favorite station KFI Radio, Andrew heard an opportunity that intrigued him. Hearing the phrase “when investors compete, homeowners win” stood out. This intrigued Andrew, as he had already been contemplating working with an off-market buyer. Once he got home, Andrew checked out Sundae’s website and decided to make the call.
Things almost seemed a little too good to be true. Flexible closing times, the potential for a cash advance before closing, and the ability to pick from multiple offers all differentiated Sundae from the local competition. Curious to learn more, Andrew decided to make the call to Sundae.
Shortly after, one of Sundae’s Market Experts came to Andrew’s property and explained how Sundae works. After hearing that there are no hidden fees for homeowners who sell to an investor on Sundae’s Marketplace, Andrew was sold. The fact that the offer Andrew would be presented would be the amount that he would receive was a big selling point. Shortly after his initial appointment, Andrew signed a Marketplace Agreement and started waiting for offers to come in.
Finding the answer
To his surprise, offers began pouring in that were well above Andrew’s initial expectations. Additionally, Andrew felt he was always attended to throughout the sale. His Market Expert went above and beyond at explaining every step of the process. “It was very good to have someone there as a reference point who could really explain what the process was.”
With a buyer picked, Andrew felt as though a huge weight had been lifted off of his shoulders.
“There was almost a sense of loss at having to sell it in an uncompleted condition” says Andrew. “But at the same time it was such a relief to be able to get back to what we had put into it and just be able to start to move on.”
Fixing and flipping homes isn’t always as easy as television programs make it seem. Especially when a quick cosmetic flip turns into a complete home renovation. It’s easy to feel as if you’re drowning and there is no clear solution in sight. With a little help from the Sundae team, we can help alleviate any stress surrounding selling off-market.
A transparent pricing model, receiving multiple offers, and the ability to choose which one made Sundae the clear choice for Andrew.
See also: How Sundae Came to Be: A Love Story
Improving the market one seller at a time
With his six and a half year project behind him, Andrew could finally move on to bigger and better things.
“My life has changed remarkably since selling with Sundae. Not having the weight of the uncompleted home hanging over my head is really a game changer.”
Sundae is here to help homeowners however we can. Whether it be selling your home through an investor on our Marketplace or with a real estate agent, we’re focused on getting you the best outcome.