How Much Cash, Can You Get?
If you’re thinking about selling your property, here’s how much money you can get
Sellers are asking about selling for Cash– they want to know how much they will get if they sell their property. If you’re thinking of selling and wondering how much you might get, this blog post will help to answer that question.
An Important Definition
Since this blog post will be read by people in all 50 States, with various price prices reflected throughout the area, it’s difficult to write about a specific dollar figure. However, here’s an important concept that will help you understand how much people will pay in cash for properties.
On The Market: When a house sold “on the market”, that means it’s usually listed by a real estate agent and sold after several potential buyers have seen the property and at least one has made an offer. Houses sold on the market will often be sold for approximately the same amount that other similar houses in the area have sold for. This is called “market price”.
Off The Market: When a house is sold “off the market”, that usually means the homeowner has decided to sell their home directly to a buyer instead of list their home. Houses sold off the market will often be sold for slightly less than their market price, this is called “below market price.”
At Local Home Investment, we are professional home buyers who buy properties off the market. To learn more about what we do, click here to fill out the form or call us now at (877) 544-9192
You might be reading this and asking, “why would anyone accept below market price, and less cash for properties, than others?”
That’s a good question but there’s more to the story:
- Selling on the market usually means you’re selling it to a person who will choose to live in the property. They’re buying the property for themselves and their family. But when you sell off the market, you’re often selling to a company that might be investing in your house to turn it into a rental property or to renovate it and sell it.
- Selling on the market usually means the buyer needs financing. Selling off the market, in a private sale, often means that a professional home-buying company is will to pay cash for the property. (That’s why some people prefer to sell off the market – they don’t want to wait for the seller to get financing; they want to know they’ve sold the house right away).
- Selling on the market actually costs money… sometimes a lot of money. If your property needs renovations and repairs, you usually have to spend money to fix up your property before you sell it on the market. However, when you sell it off the market, such as to a company like us at Local Home Investment, you may be able to sell your house as-is – saving the money (and the time and hassle).
- Selling on the market through an agent will often result in commissions and fees to the agent for the work they did to sell your house. But selling off the market to a home buying company like Local Home Investment usually means no commissions or fees or closing costs.
How much can you get for your home? Selling on the market may mean you sell your house for more money but it takes longer and costs more; selling off the market may mean you sell your house for below market price but it’s faster and there are no expenses or fees.
So, how much will sellers get in cash for their property? It depends on how you sell – on the market or off the market… and that is determined by how quickly you want to sell and how much time and money you’re willing to invest to sell.