Cassidy Melhorn, founder of Vol Homes, a real estate investment firm in Knoxville, Tennessee, had noticed people in his community struggle getting a fair price when they had to sell homes fast in Knoxville.
After realizing that there was a lack of options for them, this former process design engineer decided to open a firm to buy and renovate these homes in a unique way that allows him to pay the sellers a higher price.
“Buying houses, to me, is a lot like Christmas to a child. Some houses are good, but some have tons of potential…and this is what excites me. In order to pursue this passion, I’ve had to study what issues sellers face, and how I can structure my company to resolve those issues,” explained Melhorn.
Melhorn’s interest in buying real estate started years ago. While he was in college at the University of Tennessee, he decided to take a temporary job working for the US Census Bureau. While working there, he visited a number of abandoned properties that were in disrepair, or run-down. He asked himself, “How can I prevent this from happening?“
After graduating, he bought his first foreclosure house. During the renovation of that house over the summer, he got hooked. After a few years, he left his job to pursue his passion of finding a way to buy these houses and make them beautiful again, all while getting the sellers a price they were happy with.
Melhorn said, “Our biggest focus is homeowners who have a house that needs work that they can’t sell to a retail buyer due to the restrictions placed on houses by the bank. Banks control real estate sales if they are involved in the transaction. Banks require that sellers pay for repairs and updates to a house or they will not lend on it, and so the buyer can’t buy it. If the seller does not have the time or money to make a bunch of repairs, it leaves them in a position where they can’t fix it and can’t pay for the repairs to sell it.”
This is exactly the problem that Melhorn and Vol Homes have set out to correct in a unique way that is making it a popular with the local community.
“We do not use banks to finance the houses that we buy, meaning there are no ridiculous requirements to make repairs that are placed on you, the seller. In addition, we have learned to find the fixed up value of houses, meaning there is no need to spend money on an appraisal. This eliminates many expenses and roadblocks that would normally be involved in the sale of a house that needs repairs. We are the bank in our transaction, and we tailor our purchase to suit you, the seller, and your needs,” claims Melhorn.
According to Melhorn, no matter what issues are present with a property (repairs, title issues, back taxes, liens, etc), Vol Homes strives to find a way to purchase the house at a price that is fair to the owner.
They also help with other related issues the seller may face, like moving and finding a new place to live.
For more details about the process of getting quick cash for a home, visit https://www.volhomes.com/how-it-works/ or call (865) 321-8999 to speak with Cassidy Melhorn.
Location Info:
Vol Homes
2250 Virginia Ave, Knoxville, TN 37921
(865) 321-8999