Are you looking to sell a house in Salt Lake City, or surrounding areas, or anywhere in Utah? Then this blog post will answer the question, “Would an investor buy my house in Salt Lake City for close to asking price?” Keep reading to find out the answer…
When it comes to selling your house, you have a couple of options:
- You can sell it on the market by stating your asking price and then working with an agent to try and find a buyer (or trying to find a buyer yourself).
- You can skip the “Listing” process and just work with a buyer directly (like what we do here at YourPriceMyTerms.com) who can offer fast cash and a fair price for your house.
If you’re wondering, “Would an investor buy my house in Salt Lake City for close to asking price?” then here’s what you need to know:
Why Investors will buy your house
An investor buys real estate because they hope to find a house at a lower price and either sell it at a higher price or rent out the property. Therefore, investors are motivated to find houses that are priced fair so they can inquire them.
Before you set your asking price, think about what benefit an investor provides…
Understanding The Asking Price
Your asking price is a starting point for the negotiation. Even if you sell to someone on the market (through the help of a real estate agent), your asking price will be the starting point and the buyer will usually try to negotiate a lower price.
What most people don’t realize: the price you sell at has other factors built in… for example, it assumes that you have fixed up and cleaned up your property so it’s in pristine shape and ready for buyers. And, don’t forget that you have to pay bills, insurance, and taxes on your property the whole time an agent tries to find a buyer (which can take months). And not to mention you’ll have to pay the real estate agents commission, which is thousands of dollars.
So your asking price has all of these things “built into it”.
An Investor Skips All This
When you work with an investor, you actually skip all of this. You won’t have to clean or fix up your property so you can save thousands of dollars there. And, you don’t have to pay bills, taxes, and insurance for months while you wait for a buyer to be found, so you save thousands of dollars there. And, you don’t have to pay a commission because no agent was used, so you save thousands of dollars there.
Add everything up: you pocket more money by selling TO an investor instead of selling THROUGH a real estate agent.
Summary
Selling to an investor allows you to sell faster and avoid all those expenses. That’s why an investor might not be able to buy a house near your asking your price. Think of it this way, the discount you provide them is an expense you wouldn’t see anyway because of the wait that it takes to sell and “gamble” to sell your house on the open market.