Atlanta Home Buyers and How Much Cash For Houses In Atlanta Can You Expect to Get?
If you’re thinking about selling your house, here’s how much money you can expect to get
Sellers are asking about cash for houses in Atlanta – 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 Atlanta (and the surrounding areas and cities) with various price prices reflected throughout the area, it’s difficult to write about a specific dollar figure. Each market in Atlanta is different. Whether you’re living in Canton or McDonough or Covington, no two houses are the same and its all based on the neighborhood, condition of the home, school system, crime, and many other factors. However, here’s an important concept that will help you understand how much people pay cash for houses in Atlanta…
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 and at least one has made an offer. 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 “market price.” All lenders will send out an appraiser in this instance to verify that “comps,” or other similar homes in the area, are true to waht the house is being sold for.
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 list their home. Houses sold off the market will often be sold for quicker and with less headache but at slightly less than their market price, this is called “below market price.”
You might be reading this and asking, “why would anyone accept below market price and less cash for houses in Atlanta than others?”
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. These “retail buyers” can potentially pay more for a home because they aren’t looking at it as a business. 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. It’s two different strategies that each buyer ultimately tries to achieve. Living in it vs. Renting it out are completely different.
- Selling on the market usually means the buyer needs financing. In 99% of cases, “retail buyers” will need to get a mortgage on their home from a conventional bank. Not only does this process take forever, it can also lead to discrepancies in the value of the home per the appraisal. If that happens, you might have to renegotiate your price to appease the bank. Selling off the market, in a private sale, often means that a professional home-buying company is willing to pay cash for houses in Atlanta. (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). Professional home buying companies like ATL Cash Home Buyers make the process quick with no headaches due to our cash buying process.
- 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. Most of the time, to get the best results, your house needs to be HGTV quality or it will sit. So whether your house is falling in on itself or you just need cosmetic updates, your home will sit longer on market uless it’s completely renovated. “Retail Buyers” want the finished product and don’t want to have to fix it up themselves. However, when you sell it off the market, such as to a company like us at ATL Cash Home Buyers, 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. Obviously, they need to get paid for their time. You’ll also be more responsible for attorney closing costs. All in all, you’ll be paying roughly an extra 9% of the sale price of the home to go on market. But, selling off the market to a home buying company like ATL Cash Home Buyers usually means no commissions or fees or closing costs. Save yourself some extra money.
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, sometimes leading to a very similar net profit. That’s what matters at the end of the day right? How much money you get to walk away with is key.
So, how much will sellers get in cash for houses around Atlanta from Atlanta home buyers? 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.