Sellers are asking about cash for houses in Warren Michigan – they want to know how much they will get if they sell their house. 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 all over Warren MI (and surrounding areas), there will be various price points in the market. This makes it difficult to pinpoint an exact number for your specific house. However, here’s an important concept that will help you understand how much people would pay for your Warren MI house.
On The Market: When a house is 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. 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 the “market price”. Appraisers use these other similar homes to determine comparables, or comps, to your house. This method usually produces the highest selling price, but typically involves significantly more costs as well, including realtor fees, repair costs, closing costs, holding costs, etc. In other words, while the house may sell for “top dollar” that doesn’t always mean you’ll end up taking home more net cash.
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 listing their home. Houses sold off the market will often be sold for slightly less than their market price, this is called “below market price.” This price typically reflects a worse property condition. While you’ll likely sell for a lower price, there are significant less fees and costs associated with an off market sale. Typically, there are no commissions, you aren’t required to make ANY repairs, and the buyers often pay closing costs and title fees. In other words, you usually end up pocketing more cash through an off market deal due to the lower amount of costs.
At Cash Buyers Macomb, we are professional home buyers who buy houses off the market. To learn more about what we do, give us a call at 586-307-4330 or inquire by filling out our form below.
You may still have questions about the legitimacy of these cash buyers. That’s a good thing! Not all of them are totally honest. It’s important to work with a reputable, professional company (like Cash Buyers Macomb). Here is some more info about selling your Warren house for cash:
- Selling on the market usually means you’re selling it to a person who will choose to live in the house. They’re buying the house for themselves and their family. 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 willing to pay cash for houses in Warren MI. (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 house needs renovations and repairs, you usually have to spend money to fix up your house before you sell it on the market. However, when you sell it off the market, such as to a company like us at Cash Buyers Macomb, you may be able to sell your house as-is – saving the money, the time and the 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. Selling off the market to a home buying company like us usually means no commissions, 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 houses in Warren Michigan? 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.