A lot of people are hesitant when it comes to selling a home for cash because they know they will probably have to sell for a discount. But when you really look at the numbers, selling for cash may actually save you money compared to selling via the traditional method—especially if you own a property that is in great need of repair. That said, here are three ways that selling for cash could land you with more money in your pocket by the end of the day.
Bypass Costly Repairs
In a traditional house sale, most buyers would expect or demand that you repair or renovate the home before they are willing to finalize a deal. In many cash sales, however, the buyer is willing to purchase the home as-is. This is because those who are attracted to cash sales are often interested in purchasing homes at a discount so that they can fix the home up themselves to sell for a profit later. As a result, the seller is often able to bypass all the costly repairs, saving them both time and thousands of dollars.
Save on Commissions
When selling a home with the help of a real estate agent, sellers are expected to pay commissions. These commissions can either be flat fees, or they can be a certain percentage of the home’s final selling price. Unless you still decide to work with an agent, you won’t have to worry about commissions in a cash sale. For example, home buying companies that buy homes for cash rarely require commissions, fees, or extra costs.
Avoid Closing Costs
Closing costs also greatly contribute to the overall expense of selling a home. In a traditional sale, these costs could amount to hundreds—if not thousands—of dollars for both the buyer and seller. On the other hand, there are relatively few closing costs in a cash sale. And most (if not all) of these costs are usually taken care of by the buyer. Therefore, if you decide to sell your home for cash, you may not have to worry about closing costs at all.
Selling a home can be an expensive endeavor. Not only are there the costs of repairs and fees, but selling a home the traditional way takes a lot of time which can slowly drain a seller’s bank account. In a cash sale, you can circumvent all of the hassle and extra costs of selling a home, leaving you with more money to pursue your next adventure.
Is an unwanted property holding you back? Click here to discover how The Easy Home Buyer can help you move on by buying your home as-is for cash!