An offer described as “no fees” needs a clear explanation of who pays each expense. Even when a buyer covers agreed transaction costs, mortgage payoffs and other property obligations can affect your proceeds.
Separate transaction expenses from property debt
Ask about closing or settlement charges, title-related charges, recording expenses, any applicable transfer charges and agreed credits. Separately identify mortgages, liens, unpaid amounts and prorations. The categories and allocation depend on the transaction; a promise to cover closing costs should not be assumed to pay off your mortgage on top of the purchase price.
Ask for the allocation in writing
- Which expenses will the buyer cover?
- Which expenses or credits remain the seller’s responsibility?
- Does any existing agent agreement create a compensation obligation?
- How will taxes, dues or other applicable items be prorated?
- What payoff figures are still estimates?
Use the closing statement to check the result
Request an estimated statement from the closing professional and compare it with the purchase agreement. Review the sale price, agreed charges, payoffs and expected amount payable to you. Estimates can change when final payoff figures and the closing date are confirmed, so ask what may still move.
Do not compare fees without comparing price
A buyer offering to cover more expenses may also offer a different price. Calculate the estimated proceeds for each written offer using the same assumptions. The lowest fee line is not necessarily the best overall result.
Clarify SOS terms before deciding
Ask SOS to explain the proposed purchase price and expense allocation in the written offer. You can review the details with your closing professional before accepting. A cash sale should make the comparison clearer, not hide deductions behind a slogan.
Compare your options before deciding
SOS Home Offers buys houses directly in Augusta and surrounding Georgia and South Carolina communities. Tell us about the property, its condition and your preferred schedule. We can explain whether a direct as-is purchase may fit; requesting an offer does not obligate you to sell.
Request a no-obligation cash offer
