One page, used live on the seller call. Gate first, then numbers, then the verdict — and the walk-away number is decided before you pick up the phone, not during the conversation.
Check anything that is true. One check ends the offer conversation — politely, and with a referral out if you have one. These are not negotiating points.
Multiply by heated square feet for a call-time estimate. Confirm with a walkthrough before the inspection period ends. Replace these with your own contractor's numbers after three deals.
| Condition | $/sq ft | 1,500 sf |
|---|---|---|
| Cosmetic — paint, floors, clean-out | 15 – 25 | $23k – 38k |
| Light rehab — kitchen, baths, flooring | 30 – 45 | $45k – 68k |
| Heavy — above plus one major system | 50 – 70 | $75k – 105k |
| Full gut — all systems, roof included | 75 – 100 | $113k – 150k |
These drive insurability, which drives whether your buyer can close at all. Roof age and 4-point results matter more here than in almost any other market.
| Item | Typical | Why it matters |
|---|---|---|
| Roof — shingle, 1,500 sf | $12k – 18k | Over 15 yrs, most carriers decline |
| Full repipe — polybutylene or cast iron | $8k – 14k | Automatic decline until replaced |
| HVAC — 3 ton, changeout | $7k – 9k | 4-point item |
| Electrical panel — FPE or Zinsco | $3.5k – 5k | Automatic decline until replaced |
| Septic — drainfield or full | $12k – 20k | Kills financed exits entirely |
| Impact windows — whole house | $25k – 45k | Optional; big premium credit |
walk-away = (ARV × buyer discount) − repairs − fee − costs
open at = walk-away − 12%, rounded down to $500
seller nets = walk-away − payoff and liens
The buyer discount is the lever to watch. 70% is the market default, but it is really a statement about how much your buyer list demands — as your own buyer relationships get stronger, that number moves in your favor and every deal gets wider. Track your actual realized discount per deal and update this field rather than leaving it at 70 forever.
Novation routing exists because a payoff above your MAO does not automatically mean no deal. If the seller owes more than a cash buyer will pay but less than roughly 90% of retail, the spread lives in the retail sale, not the wholesale one — which is exactly what the novation agreement your attorney is drafting is for. Do not attempt one until that paper is in hand.
Defaults reflect GAFCO's modeled economics — $10,000 solo with a transaction coordinator, $6,000 via MaxDispo JV, 70% of ARV as the cash-buyer discount. Repair figures are planning estimates for a Florida single-family rehab and should be replaced with your contractor's actual pricing once you have it. This card is an operating tool, not legal advice: the referral disclosure, assignment language, and novation framework it references all require review and sign-off by qualified Florida counsel before use.