How It Works
How our process works
Request an offer
Get started by filling out our form and telling us a little bit about your property. This will let us know it’s available, but don’t worry, you’re under no obligation to sell to us!
Schedule a Walkthrough
Schedule an in-person or video call walkthrough to show us your property. We understand the importance of social distancing and want to present you with a safe and secure cash offer.
Sell On Your Terms
Accept your cash offer and schedule the closing whenever works best for you. Yes, it really is that easy! We close at a local title company, and we’ll even handle all the paperwork.
Everyday a homeowner requests an offer from Storydoor
How Storydoor comes up with an offer price
To create a personalized offer, we look at the property’s location, what repairs are needed, the current condition of the home, and values of comparable houses sold in the area recently. By considering all of these pieces of information, we then come up with multiple offers for you to choose from. Our offers usually include an all-cash offer, an owner financing offer, and an offer combining both cash and owner financing.
To make an offer on your home, we rely on these four elements
The after repair value "ARV" of the home
This is the value of the property after it has been renovated. This is based on comparable sales in the area that have been completely renovated.
Renovation Costs (Cost of repairs we will make)
When increasing the value of a property, we must make repairs and bring it up to date. This may include tiles, carpeting, paint, appliances, cabinets, countertops, fixtures, landscaping, and other improvements to restore a property to like new condition.
Our Selling Costs
When we sell the property after renovating it, there will be expenses involved with the transaction. Although you do not have to pay any commissions or fees when you sell to us, we will have to pay them when we resell the property, as well as taxes, holding expenses, insurance premiums, HOA costs, and so on. These are all added up into our selling costs.
Our Minimum Profit
We realize that making a profit is something most people don’t consider. Still, it’s critical for us to be able to support our families, workers, and contractors while also continuing to acquire homes. Therefore, we try to keep our profits as low as possible for us to be able to pay you the most money possible for your home.
Get a FREE Cash Offer
Ready For An Example?
Let’s say after your home is all renovated and repaired, it’s worth $250,000. Let’s say in order to get to that number, your home needs around $40,000 in repairs. Based on our cash offer formula, here’s how the numbers work. ARV (After Repair Value) of $250,000 x .75% – $40,000 in repairs = $147,500 Fast Cash Offer.
What to expect after I accept your offer & how long does it take to close?
Request an offer
Once you decide to sell your house to us, we send the purchase agreement and all other necessary paperwork to our local title company and deposit earnest money. At this point, our closing specialist will reach out to guide you through our closing process and let you know if anything else is needed from the title company. Finally, the title company will order a title and lien search, and we’ll schedule an inspection date with you either in person or via a video call.
Timeframe: 24-72 Hours
Conduct Inspections & Address Any Title Or Lean Concerns
This is when we’ll do an in-person or video call home inspection. It’s not unusual for us to request to do an in-person house inspection to learn more about what repairs are needed. However, COVID-19 has forced us to reevaluate our approach to business and human interaction therefore we practice social distancing and mask-wearing as a result of it. At the same time, our title company will contact you if there are any title or lien concerns. This is to ensure that your title is clean and that the property may legally be sold.
Timeframe: 1-2 Weeks
Scheduling The Closing And Getting You Paid!
When you’ve completed all of the above tasks, we can schedule closing to get you paid out! You have the option to close at the title company or have them send a mobile notary to you at a convenient time. After all of the paperwork is signed, your money is either transferred to your bank account, or you receive a check from the title company. You have the option of requesting how you’d like to be paid. In the majority of cases, you’ll receive your money on the same day you sign documents, but it might take up to a business day in rare circumstances.
Timeframe: 1-7 Days
Frequently asked questions
Great question, and we’re an open book: Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and values of comparable houses sold in the area recently. We take many pieces of information into consideration, and come up with multiple offers for you to choose from. Usually, the offer selections will include 1) an all-cash offer, 2) an Owner Financing offer, and 3) an offer combining both cash and Owner Financing.
This is what makes us stand out from the traditional method of selling your house: There are NO fees or commissions when you sell your house to us. We’ll make you an offer, and if it’s a fit then we’ll buy your house (and we’ll often pay for the closing costs too). No hassle. No fees. We make our money after we pay for repairs on the house (if any) and sell it for a profit. We’re taking the risks on whether we can make a profit or not. The responsibility is ours and you walk away without the burden of the property and its payments, and often with cash in your hand to use however you see fit.
Real estate agents list properties and hope that someone will buy them. The agent shows the properties to prospective buyers and then takes a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 3-6% of the sale price of your house (so if it’s a $100,000 house, you’ll pay between $3,000 – $6,000 in commissions to an agent). Agents provide a great service for those that can wait to sell and don’t mind the hassles that come along with the traditional process of selling your home. But that’s where we’re different: We’re home buyers. Our company actually buys houses. Since we’re actually the one buying the house from you, and we can pay all-cash and close on your timeframe. Again, we make our living by taking the risk to buy the house with our own cash, repair the house, and then keep it or sell it on the open market ourselves.
There is absolutely zero obligation for you. Once you tell us a bit about your property, we’ll take a look at things, maybe set up a call with you to find out a bit more, and make you multiple offers for you to choose from. At that point, you decide whether or not you’d like to sell your house to us. It’s 100% your decision, and we’ll let you decide what’s right for you.
Great question. We are professional home buyers: Although we have headquarters in Nashville, Knoxville, and Memphis, Tennessee, we buy houses Nationwide that meet our purchasing criteria. From there, we may repair the house and resell it on the MLS or keep it as a rental ourselves. We also focus on giving back to the communities we serve by converting some of our properties into Adult Family Homes or Shared Housing solutions for homeless and disabled veterans.