Cash For Houses – How Much Can You Get For Your House?

 How Much Can You Get For Your House?

“How Much Cash For My House Can I Get?”

Sellers are asking about cash for houses in the Bay Area – 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 the Bay Area (and surrounding areas), with various price prices reflected throughout the area, it’s difficult to write about a specific dollar figure. However, here’s an important concept that will help you understand how much people pay cash for houses in the Bay Area…

On The Market: When a house 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.”

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 slightly less than their market price, this is called “below market price.”

Related: Are We Buy Houses Companies Credible?

You might be reading this and asking, “why would anyone accept below market price?”

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. 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.
  • Selling on the market usually means the buyer needs financing. Selling off the market, in a private sale, often means that a professional home-buying company is will to pay cash for houses. (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).
  • 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. However, when you sell it off the market, such as to a company like us at Skye Homes, 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. But selling off the market to a home buying company like Skye Homes usually means no commissions or fees or closing costs.

Related: How it Works

One way to look at it is that you will pay a slight premium by going straight to a cash buyer, but there are other, non-price related benefits of doing that.

Cash buyers can close quicker, they are more flexible if you need more time to move out, they will buy the property in as-is condition, they can work around difficult title issues, and they offer a discrete sale setting.

So, how much will sellers get in cash for their home? 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.

Want cash for your house? We are a cash buying company and would like to make you a no-obligation offer. Fill out the form or give us a call at 877-210-6460

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Jake Knight

Jake Knight has been a residential real estate investor since 2016. He specializes in acquiring and renovating houses in the Bay Area, Sacramento, eventually expanding to over 15+ states. Jake’s prior experience in lending, going back to 2003, laid the foundation for solving complex real estate issues.

Drawing upon his background in assisting sellers with the task of transitioning from a home they have lived in for decades, Jake launched a “senior move management” business in 2021. This company provides valuable support to seniors during the process of packing, coordinating their moves, and downsizing as they transition into senior living communities.

In 2022, Jake expanded his services by becoming a licensed real estate agent in California, providing comprehensive solutions to his seller clients.

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On the other hand, there are some sellers who need a custom solution due to either the property’s condition or the seller’s personal situation, or a combination of the two.

When the property is in really bad shape, they’re likely going to sell to an investor, so it may make sense to save money on commissions and find their own investor.

Some examples of personal situations that we can help with are: hoarding, pre-foreclosure or other financial issues that require a fast home sale, house with non-paying tenants or squatters, severely delinquent property taxes, homeowners who want to rent back the home longer than normal, or sellers who value privacy and/or are embarrassed by their home.

If your seller lead meets these criteria, you should propose the idea of making an introduction to me. You can simply suggest to them that your partner or colleague buys houses and ask if they are interested in speaking with me. Remember, you are not performing real estate agent duties. See our disclaimer below. The main thing to keep in mind at this point is to qualify them as a good fit or not. I can help you with the documentation and process things.