You guessed about right 70% of your homes value is all you can expect from this type of sale. They have appraisers that appraise the property. Then they calculate the needed repairs to sell the property at a profit. They then subtract the price of the repairs and all additional cost to them from the appraisal and then mulitple the results by .70 (70%) and this is what they will offer you. My suggestion to you is give your home great curb appeal (whatever it takes) - you must get the buyer inside the home first - pretend you are a very concerned buyer and look at your home from that prespective - you want good value for your dollar - make a list of turnoffs (some could be cosmetic others more critical) - repair all these items. Then find you a REMAX agent to sell it for you at a market value price. Homes that look good and are priced right are selling in today's market.
Don't be too greedy, if you have equity, and you really want to move to a different home. I will be happy to look at your home and complete a fair market value for you, if you are not currently listed with another broker. Here's a link to my website http://bobbrown.maar.mlxchange.com or http://bobrbrown.remax.com.
Call me or email me 901-233-3313 email@example.com
House buying companies do not care about a your appraisal. They care about buying at ridiculously low prices from ignorant consumers.
If you have an appraisal that claims your property is worth 30% more than it is really worth, the house buyer is not going to be so naive as to pay you a 30% discount from the overinflated "appraisal"
They WILL be willing to take your property for 30% less than you could sell it through a Realtor on the open market. If you sold it on the open market through a Realtor and paid closing costs you would still net 90% of the value or more. Compare to 70% of value or less to house buying company company?
Wow you would have to just hate money to take the house buying company offer!
So, if the after repair value of a property is $500,000 and it needs $20,000 in repairs, the numbers look like this:
$330,000=($500,000 x 0.70) -$20,000.
And remember: $330,000 is the maximum they'll pay. In some areas, the multiplier is 0.65, not 0.70, so the offer will be even lower.
That's how it works.
If you market to a large pool of buyers with an attractive price, you will most likely net a higher number thatn you would if you dealt w/ a "house buying" company.
No one can tell you that for sure here, as a local Realtor would need to review your property, the comps, etc. I wlll venture to say that the odds will be in your favor you would net higher on the open market, even after Realtor fees. The key will be aggressive pricing with a strong marketing campagin.
It all depends on how hungry you are. Do not do like most people if you can afford to...most regular folks who invest in the stock market buy high, and sell low because the make emotional decisions on the whim of the evening news with out ever thinking that most reporters never took calculus or know enough math to be able to decifer the stock market. Using this basis of reality with the Real estate market, don't make any rash decisions because of what appears to be a market reaction per news reports.
Your trade off is your personal needs and desires long and short term, and the tax implications thereof. Consider this with your CPA, then act on this decision incorporating your needs with the real estate buy, sell or hold decision.