Are you looking to sell a house in McAllen, the [market_zipcode} zipcode, or anywhere in TX? Then this blog post will answer the question, “Would an investor buy my house in McAllen 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:
- Work with an agent. You can sell your house 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).
- Direct buyer. You can skip the “sell-on-the-market” process and just work with a local buyer directly (like what we do here at Dolfin RGV) who can make you an offer for your house.
If you’re asking yourself, “Would an investor buy my house in McAllen for close to asking price?” then here’s what you need to know:
Why Investors Invest
An investor invests in real estate because they hope to buy at a lower price and either sell it later at a higher price or fix the house and keep it as a rental. Therefore, investors are motivated to find houses that are priced affordably for them to buy.
Before you set your asking price, think about what benefit an investor provides…
Understanding The Asking Price
Your asking price is always the starting point for the negotiation. Even if you sell to someone on the market (with 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 and ask for concessions at the end.
But here’s what most people don’t realize: the asking price usually has several factors already built in… for example, it assumes that you have fixed up and cleaned up your property so it’s updated, in pristine shape and ready to move in. And, don’t forget that you have to continue paying bills, insurance, HOA’s, and taxes on your property the whole time an agent tries to find a buyer (which can take several months) until the closing date. After the buyer makes an offer, most of the times they need to wait for their lender to approve the value of the property and the conditions it is in (they will send a specialist to make an appraisal to see the value of the house); that’s why so many times an offer does not materialize after the inspections, since sometimes the inspectors find ‘nasty surprises’ and the sellers don’t have the money to make the repairs or cannot affort to lower the price accordingly. And then at the end you’ll have to pay the agent a commission, which might be thousands of dollars. Sometimes the buyer will ask for concessions at the last minute and those will also come out of your pocket.
So your asking price has all of these things “built into it”.
When you Work with an Investor You Skips All This
When you work with an 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 sell faster). And, you don’t have to pay utilities, mortgage, taxes, and insurance for months while you wait for a buyer to complete funding 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.
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 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. Get in touch and we will analyse your unique case and give you an offer in less than 48 house, no obligation.