When you sell your home, there are some expenses that you’ll have to cover. However, these expenses differ between traditional and cash sales. If you’re selling to a cash buyer, you can actually save money.
Costs in a Traditional Sale
Before looking at costs in a cash sale, you should know what you would pay if you went through the traditional method. These sales come with a variety of closing costs. First, you’ll need to account for all the fees and taxes. These will depend on the details of your sale as well as which state you’re selling in. Examples of fees include escrow fees and fees paid to any attorneys involved in the sale. In addition to fees and taxes, you will also have to pay the commissions of both real estate agents.
In a cash sale, nearly everything is taken care of between the seller and the buyer. There is no need to involve any real estate agents. One of the biggest benefits of this is you won’t have to pay any real estate agent commissions. Typically, these commissions can come out to be about 6% of the sale price. This is a major expense and it can be difficult for some sellers to come up with this money especially when they’re selling in order to get out of a tough financial situation.
Little or No Fees
In a cash sale, you would ordinarily still be responsible for paying the fees and taxes as a part of your closing costs. Without the realtor commissions, it is far more affordable. However, selling to a home buying company can save you from needing to pay them at all. To make things easier on the seller, many home buying companies will actually cover all of the closing costs. This means you can sell your home without having to worry about any major expenses.
Closing costs and other expenses can add a burden to selling your home. If you go with a cash sale, you can save yourself a great deal of money and sell your home with less hassle. Selling to a home buying company can make things even cheaper and easier for you.
Living Way Properties will often pay the closing costs of their sellers. Click here to learn more and get a no-obligation cash offer on your home.