List with an Agent or Sell to a Cash Buyer in Oklahoma
Investor purchases continue to grow and so do the options available to sellers. Let’s compare.
When to list a house in Oklahoma with an agent & when not to
You are okay with having your Oklahoma home listed on the market for 2-5 months
You are good with paying taxes, insurance, lawn care, HOA fees, utilities, etc for this time period
Your house is in great condition
You are okay with going through buyer’s inspections and appraisals and dealing with lenders
You have the money and time to address any potential repairs the buyer may request
You don’t mind multiple people coming through your home for showings and photos (clean, clean, clean)
There is room to pay all of the commissions and fees
There you have it! If you answered yes to the majority of points above then you most likely are a better candidate for a listing vs a cash offer.
It may seem obvious to you when listing may not be the best option, but we will share some reasons why selling to an investor may be the best fit
When a home needs repairs, finding a “good listing price” becomes a challenge. Since 87% of home buyers will get a loan to purchase, most of them will not be able to buy a home that needs repairs. The remaining buyers who are able to purchase a home with cash are aware that they will be taking on the cost and responsibility for the repairs and are usually not interested unless they can purchase well under market value.
What if your house is not new and needs some updates or repairs? Are there other factors that were not covered above?
Maybe selling to a cash buyer is a good option for you. Here are some things to consider.
You owe tax taxes or you are not able to make the mortgage payment
There are repairs, cleaning, or things that you do not want to deal with
You do not have the time to wait for the list and sell process
You prefer not to deal with paying commissions and fees
Flexible purchase arrangements
You just want simple and easy
HOT TIP: Listing a distressed home with an agent will still drive investor offers from companies like ours, plus you’ll then be responsible for paying commissions, closing costs, and dealing with the hassles.
The average Oklahoma home buyer is not willing to put up with the inconvenience of remodels or repairs.
Most buyers will be securing a loan in order to purchase. This will limit the buyer’s ability to purchase a home needing repairs. Most other typical home buyers are not willing to take on the responsibility or risk. With shows like “Fixer Upper”, you can see that buying at the right price to allow for repairs and staying within a budget is crucial. This is not always easy even for the professionals who do this every day.
Comparing a Fixer Upper to Move in Ready Home in Oklahoma
Which of the 2 following houses would you buy being your everyday home buyer?
A house worth $250K that is turn-key, nothing to be done, move-in ready, everything set up
A house sold at $200K and will be worth $250,000 after repairs. It needs 50K in repairs to bring it to the exact same condition as a $250K house that is move-in ready.
Of course, not many would pick the $200k house. Why would you? Who wants to deal with the risk of anything going wrong, finding trustworthy contractors, waiting for the work to be completed, etc.
So as you can see, the hassle and stress have an effect on the sales price. There is a penalty that is associated with the value of the house. Suddenly repairs are not just estimated by the cost of material, and cost of labor. Risk, time, holding cost, uncertainties, and one’s trouble tackling it all, have a monetary value.
How do we determine what our offer will be?
What kind of a price would you be comfortable with NOT having to deal with the hassle of the work, the risk, the uncertainty, and the time you still need to invest? We’ve provided a more in-depth breakdown of how we arrive at a price here.
There are times when a fast CASH OFFER is the best option. If you have done the math and this seems like the BEST option for you, give us a call at 405-754-2444. or fill out the form below and we will be in touch soon!
If it is a “seller’s market” does this mean that it is the best time to sell? Yes, it is a good time to sell. A seller’s market takes place when the demand exceeds the supply. This does not mean that your home may not still attract investor offers due to the condition or other factors we discussed above.
We buy houses for cash in Oklahoma! Are there other strategies that investors can offer? YES! Feel free to also ask about other options we can offer as investors if a cash offer is not the best fit for you.