How Much Cash Can I Get For My House In Grand Rapids?
Considering selling your house for cash? Here is how much money you can probably get for it.
Homeowners are curious about getting cash for their house in Grand Rapids – how much will they get and what is the process? This article will help to provide some clarity.
On Market vs Off Market
Since there are people reading this article all over the Grand Rapids area, and considering various prices reflected throughout the area, it’s difficult to write about a specific dollar figure. However, this On Market vs. Off Market concept is important to understand how much people pay cash for houses in Grand Rapids…
On The Market: When houses sell “on the market,” that means that it was listed by a real estate agent and sold after several buyers saw the property usually throw a showing. Houses sold on the market typically sell for a similar amount that other houses have sold for in the same neighborhood. We call this the “market price”.
Off The Market: When a house sells “off the market”, that almost always means the homeowner decided to sell their home directly to a buyer instead of listing it through an agent via the MLS. Houses sold off the market are almost always sold for less then their market price, which means it is a “below market price” sale.
Are you wondering “why would anyone accept below market price, for houses in Grand Rapids than others?”
That’s a good question, so let’s dig into it:
- Selling on the market usually means you are selling it to a person who will live in the house for years. They are buying the home for themselves and their family. But when homeowners sell off the market, they are typically selling to a company that buys the property and then turns it into a rental property or renovates it and sells it for a profit.
- When it is sold on the market the buyer usually needs financing through a traditional bank loan. Selling off the market, through a private sale, often means a professional home-buying company is will to pay cash for the house. (This is why some people prefer off market sales because they don’t want to wait for the seller to get financing. They want to know their house is sold immediately.
- Sometimes people don’t realize it, but selling on the market can cost you thousands of dollars. If your houses needs renovations and repairs, those costs come out of your pocket. People will spend this money so that they can get the highest price for their house, but sometimes it’s really not worth it. However, when you sell it off the market, such as to a company like us at AKJ Sell Today, you usually sell your house as it is today with zero changes – saving the money (and the time and hassle).
- Using a real estate agent to sell your house will result in commissions. Many of our customers do not want to pay commissions when they sell their house. They want to walk away with the fair market price they agreed to in the beginning. Selling off the market to a home buying company like AKJ Sell Today almost always means no commissions or fees or closing costs.
So, how much can you get for your home in Grand Rapids? Selling on the market typically results in a higher sales price, but it usually takes longer and you have to pay commissions; selling off the market may mean you sell your house for below market price but it is much faster and there are no expenses or fees.
So, how much will sellers get in cash for houses in Grand Rapids? 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 are willing to invest to sell.