How we work out a cash offer

There's no secret formula, and you're entitled to see ours. We start with what the house would sell for once it's fixed up, based on what similar houses nearby have actually sold for.

From that we subtract what the repairs will cost, what it costs to own the house while the work is done (taxes, insurance, utilities, interest), and what it costs to sell it again (commissions, closing costs, excise tax). What's left has to cover our risk and our pay. The remainder is the offer.

That means our offer is below what the house would bring fixed up and listed. It has to be. Whether it's a good deal for you depends on what those repairs, months and uncertainties would cost you if you did it yourself, and we're glad to talk that through with you.

When we give you a number, we're happy to walk you through how we got there: what we think the house sells for fixed up, what the work will cost, and our costs. If you think we've got one wrong, tell us.