How Do Cash Buyers Calculate The Value of My Home?
Have you ever wondered how cash buyers calculate the cash offer that they give you? When you receive a cash offer from a cash buyer or cash home buying business, it will always reflect the true value of your home, no matter how much traditional housing market trends say otherwise. Here are a few details that will help you to know how cash buyers calculate your home’s value and your cash offer.
Where is Your Home Located?
First of all, your cash buyer will look at the location of your home. Even if your home is a little outdated or in need of some repairs, the location of your home can add a lot of value to your offer. For example, if you live in a very convenient neighborhood that has parks, schools, gyms, grocery stores, shopping malls, and work offices nearby, that will cause the value of your home to increase. On the other hand, if you live in a small town where there aren’t many conveniences nearby, your home might not be worth as much because your buyer would have to go far out of their way to maintain their lifestyle.
What Condition is it In?
Your cash buyer will also look at the condition of your home. This will help them to calculate the value of your home. However, don’t be too worried if your home is in desperate need of repairs. Cash buyers aren’t like traditional buyers. They won’t always require you to repair and renovate your home, since they often flip homes after they purchase them. Cash home buying companies will purchase your home without any renovations, and they see great potential and value in any home, even if it is a little bit run down.
How Big is Your Home?
Finally, your cash buyer will look at the size of your home. For example, they may ask how many bedrooms and bathrooms your home contains. Or they may ask for the square footage of your home. However, bigger doesn’t always mean better. You’ll still get their highest possible offer even if your home is a little bit smaller. Remember, your home’s condition, style, and location can add a lot of value to your cash offer even if your home is a bit on the smaller side.
Remember, when your cash offer is being calculated, your cash buyer will usually ask you for this information about your home in addition to a few other details. Usually, they won’t need you to list your home or give them a tour. Instead, they’ll use your home’s information and the information about the city and state in which you live to calculate their highest possible offer for you.
Do you want to get a personalized cash offer for your home? Click here to get one today from Atlas Residential!