How Much Cash For Houses In Hampton Can You Get Now?
If you’re thinking about selling your house, here’s how much money you can get – no lie
Sellers are asking about cash for houses in Hampton – they want to know how much they will get if they sell their house now. 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 – first things first
We know this blog post will be viewed by people all over Hampton (and the surrounding areas of Hampton Roads), with various price prices reflected throughout the area, it’s difficult to write about a specific dollar figure. For example, today the average house price in Hampton around $227,000. However, here’s an important concept that will help you grasp how much people pay cash for houses in Hampton…
On The Market: When your house will be sold “on the market”, it means it’s listed by a real estate agent and sold after some potential buyers have come by and seen the house and made an offer to purchase. Houses sold “on the market” will be sold for approximately the same amount that other similar houses in the area have sold for. This is called “market price”. Many websites can show you that price, even though the usual suspect sites will often over-inflate the numbers. Here is something to note: when was the last time a representative from those sites came over and looked inside your house to evaluate your kitchen, bathrooms, walls, ceilings, and floors? Answer: never.
Off The Market: When a house is sold “off the market”, it means the homeowner has made a choice to sell their home directly to a cash buyer instead of going the traditional way and selling through a real estate agent. Houses sold off the market will often be sold for less than their market price, or “below market price.”
You might be reading this and asking, “why would anyone accept below market price, and less cash for houses in Hampton 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. They’re buying the house most likely for themselves and/or their family. But when you sell “off the market”, you’re often selling to a company that will be investing in your property to turn it into: a completely renovated house, a rental property, rent-to own, etc.
- Selling on the market often means the buyer needs financing, from a bank. Selling off the market is a private sale, meaning a professional home-buying company like Coastal Edge Homebuyers will to pay cash for houses in Hampton. Some people prefer to sell to a cash buyer because the sale is much faster and they can set their desired closing date from the start.
- Selling on the market actually costs more money… yes, you heard this right. If your house needs renovations (and believe us – every house that has not been renovated in a major way within the last 3 years needs it), you will need to spend a lot of money to fix up the house, especially if you want to get the top prices you see online for houses similar to yours. On the other hand, if you sell your house off the market, such as to a company like us at Coastal Edge Homebuyers, you will be able to sell your house “as-is” – saving the money (and the time and hassle). And yes, even if the house is occupied by tenants you can still sell it.
- Selling on the market through an agent will often result in commissions to be paid tothe agent for the work they do, usually that fee is 6%, so on a 250k house that’s $15,000. But selling off the market to a home buying company like Coastal Edge Homebuyers means no commissions or any fees or closing costs. Yes, that is correct, zero money out of pocket! You can even sell the house if you live out of state. You do not have to physically meet with us, if that’s convenient for you.
So, how much can you get for your home? Selling on the market can mean selling your house for more money, but it takes longer and costs more money (repairs, holding costs, agent fees); selling off the market means you sell your house for below market price but, it’s much faster and there are no expenses or fees of any kind.
So, how much will sellers get in cash for houses in Hampton? It depends on how you prefer to sell – on the market, or off the market… and that is determined by how quickly you need to sell and how much time and money you’re willing to invest to sell.