How Much Cash For Houses In Salt Lake City Can You Get?
If you’re thinking about selling your house, here’s how much money you can get
Sellers are asking about cash for houses in Salt Lake City – 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 Salt Lake City (and surrounding areas), 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 pay cash for houses in Salt Lake City…
On The Market: When a house has closed or sold “on the market”, that means it’s been listed by a Realtor and sold after several potential buyers have seen the property and at least one has made an offer. Most homes sold on the market will often be sold for about the same dollar amount that other houses with the same sq ft, built, acres, style in the area have sold for. This is called “market price”.
Off The Market: When a house has closed or sold “off the market”, that means the property owner has decided to sell their home directly to a buyer or investor instead of listing the home. Houses sold off the market will often be sold for a little bit less than fair market price, this is called “below market price.”
If your reading this and asking, “why would someone go with an offer below market value, and take less cash for a houses in Salt Lake City than what they could get?”
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 house. They’re buying the house 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 houses in Salt Lake City. (This is a good reason why some sellers 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 the house will need updates, renovations, or repairs, most of the time you will need 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 YourPriceMyTerms.com, 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 YourPriceMyTerms.com usually means no commissions or fees or closing costs.
How much can you get for your home? Listing your home or selling on the market may get you 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 with cash for houses in Salt Lake City? It will depend on the way 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.