In this guide, we'll explore what to expect regarding value, what factors affect the price, and how to ensure you're getting the best deal possible when you sell your house for cash.
When you sell your house for cash, compared to traditionally listing it on the market, you expect a speedy, convenient, and specific transaction.
Imagine not having to wait an average of 50 days before you can sell your house, not having to stage your home and screen an endless stream of potential buyers.
Selling your house for cash is your Hail Mary when selling your home. It offers a faster, more accessible route to selling without the typical real estate headaches. But how much can you actually get when selling your house for cash? And how do you ensure you’re maximizing that cash offer?
In this guide, we'll explore what to expect regarding value, what factors affect the price, and how to ensure you're getting the best deal possible when you sell your house for cash.
Cash buyers prefer real estate, which they can acquire in the shortest time possible, make the necessary repairs, and rent or sell the property.
They often base their offers on market trends, property conditions, and investment potential. So, if you've been asking yourself, "How much can I sell my house for cash?" here's a short breakdown of the price ranges you can expect based on the property type you plan on selling.
If you plan on selling a single-unit or single-family house, expect your cash offer to reflect the property’s location, size, and condition.
However, you don’t have to worry much as cash buyers prefer single-family homes, allowing resale or renting to a broad range of future buyers or renters.
In high-demand markets such as Florida's urban centers, single-unit houses can start from $200,000 but go as high as $500,000, depending on the current market. For those houses with structural damage, the range might fall between $150,000 and $300,000.
For those with more enormous stakes, such as a duplex or triplex, or even a small apartment complex, ash buyers are often willing to pay higher amounts, especially when the units have a ton of rental income potential.
In Florida, a small apartment complex can range from $500,000 to $2 million depending on various factors such as location, state or condition, and current rental income.
This type of property is widely in demand by investors since it can be converted into a cash-generating property quickly. However, a property needing significant updates may start at around $350,000 and increase depending on the improvements required.
Although small and compact, Bungalows is a popular option since this type of property is more straightforward to customize and renovate due to its current dimensions. This one-story tall property generally ranges from $150,000 to $400,000, depending on its location and conditions.
Most bungalows in Florida, especially in the coastal areas, tend to go for lower prices, especially if they have charm or vintage appeal. If your bungalow needs more repairs than usual, expect your cash offer to be on the lower end of the stick.
Due to their more extensive square footage and family-friendly features, two-story houses will get you higher cash offers than one-story ones. A well-maintained and cared-for two-story house can get you cash offers ranging from $300,000 to $600,000 or more if the demand in the market is high.
However, if your property needs more repairs, expect your cash offer to drop to around $250,000. In upscale areas with solid demand, two-story homes in excellent condition can see offers that exceed the usual range.
Not everyone can own a three-story house, which makes them more valuable due to their size and functionality, mainly if they are located in prime or downtown areas.
As such, you can expect cash offers to start at around $450,000 but can go up to as high as $1 million, depending on the location, features, and recent upgrades. However, you can expect to be offered more if your property is located along high-demand coastal or urban areas. However, fixer-upper houses will likely get offers in the lower margins of this range.
Now that you know what to expect in terms of pricing, it's time to do everything it takes to ensure that you get offered at the higher end of the price range. Here's a few tips that you can do to get higher cash value for when you sell your property for cash:
First impressions often matter for cash buyers who tend to look past cosmetic imperfections. As such, when you spruce up your curb, you can change how the property looks to potential buyers and use it to persuade them to make a higher offer.
This might entail simple landscaping, painting the house's exterior, and cleaning the yard. In Florida, such features as hurricane shutters and neatly kept driveways attract attention.
While cash buyers are used to buying houses "as-in," that doesn't mean you should handle a few simple repairs, especially if you want to be given the total price. Generally cash buyers are typically prepared to invest in upgrades. Still, too much maintenance can significantly lower any cash offers you might receive on your house.
Simple fixes like replacing broken fixtures, repainting worn walls, and fixing minor plumbing issues can boost your home’s perceived value. A modest investment here can result in a much stronger cash offer.
Energy efficiency is a significant selling point in Florida, especially considering the high temperatures during summer. As such, upgrades that enhance the cost-effectiveness of the property for possible renters or buyers will leave a great impression on the cash buyer.
As such, it would be best to put in modern windows instead of old ones, enhance insulation, or fix home appliances. These improvements add a few thousand to your current cash offer.
Having or ensuring a clear title on your property when selling also helps in the swiftness of the closing duration and can easily attract cash buyers to your property.
Lenders and other people considering buying the house will want an updated report to ensure no liens or any outstanding taxes owed on the property that would impede a quick sale. A clear title is welcome to cash buyers and may even bring about better offers.
Is your house positioned somewhere close to the captivating beaches of Florida? Is it situated around any widespread tourist sites or lively areas? Highlighting these selling points can make your property more appealing.
For instance, if you want to sell your property for cash near public transport, good schools, or even shopping centers, it’s important to mention that to your cash buyers.
Finally, consider getting multiple cash offers. Cash buyers are competitive, especially in high-demand areas. When you gather various offers, you can find other offers on the property and use them to negotiate and raise the final cash offer.
As fewer people are opting to sell their houses, deciding to sell your home for cash is a challenging feat, as it requires tons of research and preparation to ensure that you'll end up with a quick, convenient, and sure sale.
Whether you have a single unit or a three-story property, it's always better to be informed of the price range you should get when selling your property for cash. But knowing the price range for the property you're selling doesn't automatically make you an expert.
At Camarotti Homes, we provide a fast, fair cash offer and guide you through the selling process every step of the way. So, contact us today, leave all your worries behind, and let us help you sell your property quickly.
No effort needed, no hidden fees. Receive cash and a fresh start in just 7 days.
