Are you looking to sell a condo in Orange County or anywhere in Southern California? This blog post will answer the question, “Would an investor buy my condo in Orange County for close to asking price?” Keep reading to find out the answer…
When it comes to selling your condo, 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 buyer directly (like what we do here at Fast Condo Buyers) who will offer you a price for your condo.
If you’re wondering, “Would an investor buy my condo in Orange County for close to asking price?”, here’s what you need to know:
Why Investors Invest
An investor invests in real estate because they hope to earn a living. Typically this means buying at a lower price and selling at a higher price or renting out the property. In order to run a business and put food on the table, investors are motivated to find properties that are priced affordably for them to buy.
Before you set your asking price, think about what benefit an investor provides…
Understanding The Asking Price
Your asking price is a starting point for the negotiation. Even if 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.
What most people don’t realize, is that the asking 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’s also important to factor in commissions and other closing costs, that are deducted from your asking price. (Also, don’t forget that you have to pay bills, insurance, and taxes on your property the whole time an agent tries to find a buyer).
It’s important to look at your asking price and realize the difference between that number and the money you’ll actually walk away with.
An Investor 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, you don’t have to pay bills, taxes, and insurance while you wait for a buyer, and you don’t have to pay a commission because no agent was used.
Add it all up: you save thousands of dollars by selling TO an investor instead of selling THROUGH an agent. The difference between the “discounted price” the investor is asking for and the money you’d walk away with going through an agent in the traditional way is really not as drastic as most people assume at first glance.
Selling to an investor allows you to sell faster and avoid all those expenses. An investor might not be able to buy a house near your asking your price, but the discount you might provide them is money you might not see anyways after deducting closing costs/commissions, and paying the bills during the waiting period.