“Cash for houses.” We have all seen the ads promising homeowners quick cash transactions
on sale of their home. These companies use appraisals that are well below market, extracting thousands of dollars of equity from the owners. The alternative, selling a home “as is”, usually leads to a lower return and longer time on the market. That’s why, in many cases, a Realtor will suggest making repairs before listing the home. Funding these projects before selling, however, isn’t always possible for the homeowner.
This is exactly what Rick Hennessey and Jeramie Maxwell discovered when they started helping a few friends with presale improvement projects. “There just wasn’t an easy option out there to help homeowners with the upfront costs, says Hennessey. “That made it
very hard for people to sell for move in ready prices.”
“The average person should be able to have a fair chance in the market”
An idea was born during a backyard fire conversation between the neighbors
“We were sitting around the fire just discussing how the average person should be able to have a fair chance in the market” said Hennessey, “I turned to Jeramie and said ‘Hey, lets start a company so we can help more people!”
Hennessey, a serial entrepreneur began making calls and in 2019 the pair cofounded
HouseAmp, an online platform that lets Realtors, Homeowners and Service Pros work together to streamline the processes of getting a home ready to sell.
HouseAmp connects the sellers and the service pros of their choice and can even
provide access to funding to help the homeowner prepare their home or sale – allowing the homeowner to pay nothing until the house sells.
“I offer HouseAmp to every listing client I encounter. It sets me apart from other brokers. It’s my ‘Ace in the hole’ to get homes ready to list!”
“My client was going through a divorce, so paying for repairs before the sale was difficult and traditional loans were not an option for her” explains Terri Kaminski, part of the Mo-Minski realtor team of Charter Real Estate in Bainbridge Island, WA. “HouseAmp was able to connect us with funding options based on her equity not just credit.” Kaminski’s client was able to secure funding for around 60k and used it to make repairs such as a new roof, painting, new appliances, and a new deck. It brought her pre-improved house value from $1.4M to a sale of $1.775M. “For $60K we got her an extra $375,000 ROI.” exclaims Kaminski. “I offer this program to every listing client I encounter. It sets me apart from other brokers, it’s my Ace in the hole to get homes ready to list!
Realtors who partner with HouseAmp increase their commissions and move houses faster at no extra cost to them. Since its successful start in the state of Washington the company has grown to include Colorado and Oregon to its list of serviceable areas. By the end of 2022 it is
expected to add 24 more states. It’s mission is to Improve lives one house at a time.
“We started as two guys wanting to help friends get the money they deserve from the
sale of their home,” says Maxwell, “We look forward to meeting and working with new friends all over the country”
Interested in working with HouseAmp on your upcoming listing? Sign up for a free account.