Are you looking to sell a house in Myrtle Beach, Horry County, or anywhere in SC and are wondering if a Cash Homebuyer will pay full retail price for your house? Then this blog post will answer the question, “Would an investor buy my house in Myrtle Beach 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 “sell-on-the-market” process and just work with a cash homebuyer directly (like what we do here at Belle Coast Properties) who can offer you a price for your house.
If you’re wondering, “Would a cash homebuyer buy my house in Myrtle Beach for full retail 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 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 set your asking price, think about what benefit an investor provides…
Understanding The Retail Price
Full retail price is what most homeowners hope to get when they try to sell their house. It’s the top dollar amount you think you can get for your house when you put it on the market. Your asking price might even be higher than this, with the thought that there will be a built-in cushion for negotiating. Typically, when 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.
But here’s what most people don’t realize: the full retail 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. It assumes the house has been fully rehabbed and is move-in ready. If your house doesn’t fit this description, then you probably won’t be getting full retail price for your home no matter how you sell it. And, don’t forget that you have to pay bills while the house is listed, 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 agent a commission, which might be tens of thousands of dollars.
So the retail price has all of these things “built into it”.
A Cash Homebuyer 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, 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.
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 full retail 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.