Selling your home on the open market can be quite expensive, with fees and commissions reaching up to 8-10% of the sale price. But what if you could avoid these costs altogether? Cash home-buying companies are becoming increasingly popular as an alternative way of selling a home without paying the usual hefty fees associated with traditional sales. Let’s break down why working with a cash home-buying company can help you save money.
Commissions
When you sell your property through a realtor, you will need to pay commissions that usually amount to 5-6% of the total sale price. This commission is often split between the listing agent and buyer’s agent, so if your house sells for $200,000, you could end up paying up to $12,000 in commission fees! With a cash home-buying company, however, there is no commission fee since there’s no middleman involved. This means more money in your pocket at closing.
Closing Costs
In addition to commissions, there are closing costs associated with traditional property transactions such as title insurance premiums and transfer taxes. These costs can add up quickly and eat into the profits from your sale. By working with a cash home-buying company, however, you can avoid these costs entirely since they typically cover all closing costs associated with the transaction.
Marketing
Another cost that many homeowners overlook is marketing expenses when selling their property on the open market. To attract potential buyers and maximize their reach, sellers often spend thousands of dollars on advertising and staging their homes for showings. However, when you work with a cash home-buying company, this expense will be eliminated since they don’t require any special marketing or preparation for showings—they’ll purchase it “as is”!
Working with a cash home-buying company can save you time and money by avoiding costly commissions and closing costs associated with traditional sales processes. Additionally, it eliminates the need for expensive marketing expenses such as advertising campaigns or staging services since these companies typically purchase properties in “as is” condition without requiring any additional preparation or presentation efforts on behalf of the seller. If time is of the essence for selling your property and you want to get top dollar for it without incurring hefty fees along the way–working with a cash home-buying company may be just what you need!
Have some questions about the cash home-buying process and everything it entails? Get your questions answered by the experts at Volunteer Buyers!