Will An Investor Buy My House In San Diego For Close To My Asking Price?
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Will An Investor Pay Me My Asking Price?
First thing first: Know your options when selling your house.
- You can List it with a local realtor, in hopes of marketing it successfully and finding a buyer.
- You can try to sell it on your own (FSBO-for sale by owner), and hope you find a buyer.
- You can bypass the whole marketing, hoping, and finding process by selling directly to an investor (like GG Homes).
Easy enough. But the question remains: “Will an investor buy my house in San Diego for close to asking price?”
Here’s what you need to know and understand:
What Is The Investor’s Agenda?
Investors buy houses generally, for one of two reasons.
- To remodel the house and resell it for a profit.
- To keep the house as a rental unit.
In either case, investors need to make a profit and therefore, have to locate houses that are priced affordably. They are not buying your house to live in it, and therefore don’t really care about a lot of other things a retail buyer would… like how clean it is, or can you wait until they sell their current house. Click here to see a good FORBES article on the Pros and Cons of Selling to an Investor.
What Is My Asking Price?
When you sell your house through a realtor to a “retail buyer,” your asking price has a lot built into it. You know they are going to offer less, so you have to have some “wiggle room.” Plus you have to build in the realtor’s commission, and the closing costs.
Additionally, you have to cover whatever repairs you do to the house. Finally, since this process could take 6 months, you have to cover your mortgage and any upkeep to the house for that time period. All of this has to be built into your asking price, and unfortunately, it still may not sell.
The Benefits Of Selling To An Investor
When you sell your house to an investor, you don’t have to build anything into the asking price.
- There are no repairs required
- You don’t have to clean anything up
- You can sell instantly, so no more mortgage, utilities, insurance, maintenance, etc.
- No commissions, fees, or closing costs
- No hoping, marketing or waiting
It’s easy to determine your asking price when you sell to an investor. You don’t have to worry and wonder if there will be any other fees or costs. The only “costs” you will have is whatever you already owe on your house like your mortgage and taxes. See below for a detailed comparison of selling to a Investor vs a Realtor.
|SELLING THROUGH AN AGENT||SELLING TO I BUY SD|
|Commissions:||Sales Price of 2.9-10.1% of in San Diego.||NONE|
|Closing Costs:||3.01-4.01% of the Sale Price.||NONE – We pay all closing costs|
|Repairs:||Repairs are often a requirement for traditional real estate sales or lender approval.||NONE – We will pay for all that are needed repairs|
|Time and Carrying Costs:||The conventional home selling process can span from 3-6 months, during which costs such as taxes, insurance, utilities, maintenance, and interest must be covered.||NONE- We will purchase your home right now|
|Cleaning:||In traditional real estate, a tidy and presentable home is often requested for showings to prospective buyers.||NONE – We will handle everything for you|
|Packing:||Upon completing a traditional home sale, the property must be emptied and cleaned.||NONE – Just leave anything you want behind|
|Staging:||Staging a home for traditional real estate showings, which often involves significant decluttering, is sometimes a requirement for realtors.||NONE – Not at all required|
|Showing:||A traditional home sale may require showcasing the property 5-30 times to secure a buyer||Only 1 Time (Our Team)|
|Closing Date:||Around 30-60 days once a buyer is found.||Whenever you would like|
|Inspection, Financing and Appraisal Contingencies||In traditional real estate, obtaining financing often necessitates an inspection, appraisal, and credit approval from the realtor.||ZERO|
Selling your house to an investor allows you to sell faster, easier, and without all the traditional costs. You are cutting out the middle man and selling straight to the buyer-without the wait! You can now figure an asking price without all the other stuff built in, and this asking price should be much closer to what an investor can pay.