When selling your home, you want to get as much money as possible for it. But in many circumstances, listing your home on the market may not be the best solution for you, considering the time and the costs involved. Selling your home to a cash buyer can save you money.
No Expensive Repairs to Make
Unless your house is in perfect condition, before you even think about listing it, you’ll need to make repairs, clean it, and make it presentable for home showings. If your house is older, or you haven’t been able to keep up with maintenance, it’s likely that major repairs will be needed, and that can cost you thousands of dollars.
With a cash sale, you don’t have to spend a dime to fix anything up in your house. A cash buyer will make an offer on your house “as is.” The cash buyer accepts all responsibility for any repairs or cosmetic changes that might be needed.
No Paying Bills While Waiting for an Offer
When you list your house, the sales process could take many months. While you are waiting for an offer, you’ll still have to keep paying mortgage payments, utilities, taxes, and insurance. These bills can add up and can hurt you, especially if you’re already in financial straits.
In contrast, you can have a cash offer within 24 hours after contacting a cash buyer. It’s possible to close on the house within a week, and almost all transactions close within 30 days. In just a month, the financial burden of the house can be lifted from your shoulders.
No Commission or Fees
Say you list your house and get an acceptable offer. That is not the amount you will ultimately receive at closing. The agent’s commission, usually averaging 5 to 6%, will be deducted, as will other closing costs. Your take is substantially reduced.
With a cash sale, the amount you are offered will be the amount you receive. The cash buyer will not charge you commission or closing costs of any kind.
A traditional home sale requires you to spend money to get money—repairs, bills, commissions, and other costs subtract from your proceeds. That’s not the case with a cash sale. You can come out ahead financially with a cash sale.
Can a cash buyer help you save money on your home sale? Click here to compare.