Selling a house can be expensive. First, you have to spend money making repairs on your home, cleaning carpets, and freshening paint. Then, when you finally get an offer and close on the house, you have to pay commission, taxes, fees, and other closing costs. You can save all or part of these expenses with a cash sale.
Repairs
The most common way of selling a home for cash is to deal directly with a cash home buying company. These companies will purchase your home from you “as-is.” That means they won’t ask you to make any repairs, and they’re not concerned with the appearance of your home, inside or out.
Eliminating the need to make repairs and cleanups can save you several thousands of dollars right at the start. If your house needs a major repair, such as a new furnace or roof, you could save considerably.
Speed
The speed of a cash sale can also save you money. If you need to move out before selling, you will still have to pay mortgage payments, insurance, and utilities as you wait for someone to make an offer. If you’re having financial difficulties, this can be burdensome.
In comparison, selling to a cash home buying company is fast. You can receive an offer within a day or two and close within 30 days. You will quickly be relieved of the bills associated with your house.
Closing Costs
Closing costs can be the biggest expense for a home seller. Real estate companies charge as much as 6 or 7% of the sales price for commission. This money is divided among sales agents and brokers. Then there are other costs that can amount to thousands.
But a cash home buying company is not a real estate agency. They don’t employ salespeople, so they don’t have to charge commissions. The companies also will pick up closing costs. The offer you receive will be the amount of money you will have at closing.
Selling to a cash home buying company isn’t for everyone, but it might be the right choice for you if you own a home needing extensive repairs and a quick sale is important. In those situations, you can save money by selling your home for cash.
In North Georgia, Simply Sold Homes is your local cash buyer. Click here to learn more!
