How much will an investor pay for my house in Oklahoma City
If you are interested in selling your house to an investor in Oklahoma City but curious how much they will pay, we can help you out. We are a local company that buys homes in OKC and we get asked this question A LOT. While we aren’t the only investors that do this in OKC, we can tell you that all investors look at real estate and buying houses as purely a numbers game. There is no emotion for us, no attachments, we just look at risk, costs, and profits. After all, we are running a business that feeds our families, pays employee salaries, and pays our own mortgages. It has to be about the numbers.
How does that help answer your question of how much will an investor pay for my house in Oklahoma City??? Well, below we are going to tell you all the factors that go into how much investors can pay for a house and what to expect to get for you home….
How do investors come up with a price to buy my home?
Simply put, we look at a lot of details and convert those to numbers which gives us an offer price. Lots of factors can determine what an investor can pay for your house. A quick list of those is below so that you can see how we think as investor buyers and understand our process better….
- Condition of the home – if it needs lots of updating and repairs, we have to offer less. If it is in great shape and updated to today’s styles/standards, we can pay more.
- Market conditions in the area – before we buy any house we look at what the real estate market is doing in your area. If prices are falling and houses are taking longer to sell, we have to offer less. If the market is strong or prices are going up or inventory is low, we can pay more.
- Quality of surrounding area – if the area around your home has a lot of crime, bad schools, or other negative factors, the house will be worth less. If your house is in a good area, we understand this and can offer you more.
- Risk factor – this is a combination of a few factors. Basically, we look at how much and what repairs your house will need for us to flip it or rent it….then, we factor in what the local real estate market is doing to get an idea of what we can sell it for and how quickly we can sell it (3 months, 6 months, longer?)…then, we get an idea of how risky an investment this is. For example, if a house needs LOTS of work and homes around it are taking 6 months to sell, that is a risky investment. It will probably take us 3-4 months just to repair/update the house with another 6 months to sell it meaning we spend almost a year working with one house just to sell it. A lot can happen in a year.
Those are the basic factors we look at when making an offer on a home. These factors allow us to understand how much money we have to put into the house (money to you to buy it, money for repairs, money to sell the house and pay utilities/mortgage) and what we can expect in return (any profits from renting or selling it). If you have questions on these factors don’t hesitate to call or text us at 405-673-4901.
I still want to know!!! – How much will an investor pay for my house in Oklahoma City???
The ultimate question. To get an exact answer for this, you need to talk with us so we can learn more about your house. The easiest way is to fill out the form below on this web page or call us at 405-673-4901.
To give you a general idea of how much will an investor pay for your house, let’s look at a house that is worth $100,000 in perfect shape, but needs $20,000 in repairs and updates to get it there. If we assume this house is in a good area with a strong real estate market, here are 2 options you have to sell it as-is…..
- Sell it to an investor – an investor would probably pay $45,000 – $55,000 for this home. That would be the amount you would NET or walk away with at closing. You’d have the freedom to close as soon as 2 weeks or longer if needed. Also, you wouldn’t have to make any repairs or clean anything or pay closing costs or pay commissions or pay fees.
- Sell it to a buyer that wants to live there – you can always get more money selling to a buyer that is going to live in the home. Why? Well, they don’t care about profits and usually do the repairs themselves spending less money but taking 5 times as longer to complete them. You can expect a buyer living in the home to pay you $60,000 – $70,000 probably. They will be getting a loan so they can’t close any sooner than 30-45 days. Also, their lender or bank might force you to pay for certain repairs before closing ($1,000 – ???). Out of the price you sell it for, you’ll have to pay commissions ($3,500 – $4,500) to a Realtor to spend months finding the buyer and marketing your house for sale. You’ll also have to pay for your closing costs and any closing costs the buyer needs help with ($1,500 – $4,500). In the end you will walk away with more money but not before losing a lot to repairs, closing costs, and commissions.
If you have questions about your specific house, the best thing to do is get in touch with us and we can work on getting you a quote to buy your home as-is. Our offers are no-obligation so you can take it or leave it with no strings attached. If you would rather we call you, then fill out the form below and we’ll reach out within 24 hours.