How Much Cash For Houses In the Boston Area Can You Get?
If you’re thinking about selling your house, here’s how much money you can get
Sellers are asking about cash for houses in Boston and the surrounding 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 Boston (and surrounding areas), with various 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 and around Boston…
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.”
You might be reading this and asking, “why would anyone accept below market price, and less cash for Boston area houses 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 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 in the Boston area. (That’s why some people prefer to sell off the market – they don’t want to wait for the seller to get (or worse, find out they did not 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 Mass Property Solutions, 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 requires 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 Mass Property Solutions usually means no commissions or fees.
- Selling on the market requires time and inconvenience on the sellers’ part. Sellers must make the home showing ready –and keep it that way! Not always a simple task for busy folks. Further, the home must be made available and vacant for showings to potential buyers. This can be a considerable inconvenience for sellers with children, pets, who are elderly or ill or those who work from their homes.
How much can you get for your home? Selling on the market may mean you sell your house for more money but it takes longer, costs more and is generally more of a nuisance; selling off the market may mean you sell your house for below market price but it’s faster, EASIER and substantially fewer expenses and fees.
So, how much will sellers get in cash for houses in the Boston area? 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, money and effort you’re willing to invest to sell.