How much cash can you get for selling your Kansas City property? Let’s find out!
Sellers are asking about cash for houses in Kansas City – whether they’re selling with a real estate agent, or selling their home directly for cash, this blog post will let you know how much cash you can expect to get.
On-Market vs. Off-Market
Since this blog post will be read by people all over Kansas City (and surrounding areas), with different neighborhoods, properties, finishes and property types, I obviously can’t give you a dollar value for your specific home in this post. However, understanding on-market and on-market properties will help you figure this out for selling your home in Kansas City…
“On-Market”: When you hear of homes being sold “on-market”, this is referring to listing the home using a real estate agent. The agent will list the home on the MLS, look for a buyer, and guide the transaction through to close. The selling price will be determined based on similar homes that sold recently in immediate vicinity (known as comps).
“Off-Market”: When a house is sold “off-market”, that simply means that the home wasn’t listed on the MLS. Instead, the homeowner sold the home directly to a buyer without a middleman. The home is often sold for a discount vs. selling on-market.
Here at Green Sparrow Properties we specialize in buying properties off-market. If you’re wanting more information or are curious how much we can pay for your home, fill out our form or simply give us a call at 816-800-9238.
So why would someone sell their Kansas City home for less cash than on-market?
That’s a great question, and to understand this, we need to get the full story:
- When most people list their home on market they’re selling the home to a person or family that wants to live in the property themselves as their primary residence. When people sell off-market, they are often selling to an investor who will buy the property “as-is”. These investors buy properties to fix them up and sell them or turn them into rental properties.
- Selling on-market means that the buyer usually has to get financing from a bank in order to purchase the property. This is never certain and can take quite a while to go through. When a homeowner sells a property off-market the investor is usually buying the home for cash which has less uncertainty and is much faster. Many off-market sellers are looking to sell their home quickly for cash.
- On-market buyers seldom want to do many repairs, and banks will not lend money on properties that require a lot in repairs. When selling off-market to a company such as us at Green Sparrow Properties, the buyer will buy the home as-is and will make all of the repairs. These repairs can cost a lot of money, sometimes 10’s of thousands of dollars! So if the seller doesn’t have the money to make these repairs, selling off-market is likely their best option.
- Lastly, selling a property on-market comes with a lot of fees including commissions to the real estate agent and closing costs. Again, this can cost 10’s of thousands of dollars. At the end of the day, selling a home for a discount off-market can result in more cash in the seller’s pocket because the buyer will pay all fees and closing costs, plus there is no commission.
So how much cash can you get for selling your Kansas City property? Selling your property on-market often results in a higher sales price, but can take a long time and result in paying a lot in fees, repairs, and commisssions. Selling off-market for a discount is much faster and much less hassle, plus you get to avoid all of those frustrating fees and costs.
At the end of the day, the amount of money you get for selling your Kansas City property is determined by how quickly you need to sell by and how much hassle you’re willing to put up with.