Are you looking to sell a property in Sumter, or anywhere in the surrounding counties? This blog post will answer a common question we receive all the time, “Would an investor buy my house in Sumter for close to asking price?”
When it comes to selling your house, you have a couple of options:
- You can sell your property on the market by stating your asking price and then working with a real estate agent to try and find a buyer (or trying to find a buyer yourself).
- You can skip the “sell-on-the-market” process and just work with a local cash buyer directly (like what we do here at House Hub Real Estate Solutions) who can offer you a competitive price for your house.
If you’re wondering, “Would an investor buy my house in Sumter for close to asking price?” then here’s what you need to know:
Why Investors Invest
A typical real estate investor invests in real estate because they hope to buy at a lower price and either sell at a higher price or rent out the property. Therefore, investors are motivated to find houses that are priced affordably for them to buy.
Before you become dead set on your asking price, think about what benefits a local investor can provide…
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 based on what they feel the value of the property is.
But here’s what most people don’t realize: the asking price 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 to move in. 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 then you’ll have to pay the real estate agent their commission, which could be thousands of dollars (traditionally 5%-6%), not to mention the closing costs that the buyers will most likely ask you to pay as well.
You have built in all of these things into your asking price and could have inflated the value.
An Investor Skips All This And Keeps It Simple
When you work with a local real estate investor, you actually skip all of this. You don’t have to fix up or clean up your house 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 it all up: you save thousands of dollars by selling TO an investor instead of selling THROUGH an agent and could walk away with an amount you are comfortable with.
Summary
Selling to an investor allows you to sell faster and avoid all those unnecessary expenses. That’s why an investor might not be able to buy a house near your asking your price. However, the discount you might provide them is money you wouldn’t see anyway while you wait months and “gamble” to sell your house on the open market.