Selling your home can be a stressful time. Your house has to be in pristine condition, you need to find a realtor, you have to leave your home at all hours of the day for showings, and then there are the fees. With realtor commissions, repair costs, and closing fees, selling your home takes some real capital. But that is with a conventional sale. What about sales to cash home buying companies?
In real estate, the seller typically pays the commission fees for both the listing agent as well as the buyer’s agent. That usually adds up to around 6% off the price of your home. For a 300,000 dollar home, that is $18,000. Painful, right? When you sell to a cash home buying company, you won’t be working with realtors. The home won’t be listed, your privacy won’t be invaded with prospective buyers, you won’t have a bunch of inspections and appraisals and paperwork to sort through, so there is no need for one. Put simply, you won’t pay a penny in realtor commissions.
One of the biggest expenses people generally have in a conventional sale is all of the work that needs to be done to get the home ready. With your typical buyer wanting everything to be in excellent condition and updated with the latest home trends, you will likely spend thousands of dollars getting your home up to par. When you sell to a cash home buying company, on the other hand, you don’t have to worry about repairs, updates, or remodels. They will buy your home in whatever condition it is in right now.
One surprise that likes to sneak in on sellers is some pretty hefty fees at closing. In addition to the agent fees, you will most likely pay property transfer taxes, attorney fees, and title fees. You might even be up for splitting property taxes or HOA fees, as well. When all is said and done and everything is accounted for, you could be up for around 8-10% off the price of your home at closing. When you sell to a home buying company, closing costs are paid for you.
Selling your home can be expensive. You will have to cover repair and upgrade costs up front, while realtor commissions and other closing costs will be deducted from the sale proceeds. Neither of those are pleasant realities. When you sell your home to a cash home buying company, you don’t pay a penny.
Do you need to sell your home, but don’t want to pay all those fees and repair costs? Click here to learn more about BUYBHM. We will pay cash for your home, while you don’t have to pay a thing.