Are you looking to sell your home? If so, have you considered selling it for cash? There are a number of benefits to doing so, including the fact that you will avoid paying certain costs. Take a look at these three major costs that you will avoid by selling your home for cash.
Commission Fees
One advantage of selling your home for cash is that you avoid paying commission fees. Traditionally, when you sell your home through a real estate agent, the agent will charge a commission for their services. This commission is typically a percentage of the final sale price of the home and can range from 5-6%. This can add up to a significant amount of money, especially if your home is worth a considerable amount. By selling your home outright for cash, you can avoid paying this fee and keep more of the money from the sale. This can be a major advantage, especially if you are selling your home in order to downsize or move to a less expensive area.
Marketing and Listing Costs
Home sellers are often surprised to learn about all of the costs involved in selling their property. In addition to commissions, there are also fees for things like home inspections, repairs, and staging. One of the biggest costs, however, is marketing and listing. Things like yard signs, flyers, and online listings don’t come free. For many sellers, avoiding these marketing and listing costs is one of the main reasons for selling their homes for cash. By working with a cash buyer, they can sell their home quickly and without any additional expenses. As a result, they are able to keep more of the equity from the sale of their home.
Closing Costs
One major advantage of selling your home for cash is that you avoid having to pay closing costs. These are the fees charged by your lender when you finalize your mortgage, and they can add up to thousands of dollars. There is no mortgage loan or lender involved when you sell for cash – there’s only cash. By selling your home for cash, you can avoid these costs and pocket the money yourself.
Most home sellers are shocked by home many fees and expenses there are that eat into the profits from their home sales. Commissions, closings, costs, marketing and listing fees, repairs, and the list goes on and on with traditional home sales. Avoid these costs and go for a cash sale on your home.
Have an interest in learning more about the cash home buying process? See how they do it at Joe Homebuyer of Eastern Pennsylvania!