Can I Save Money By Selling My Home for Cash?

Many homeowners originally decide to sell their homes because of financial difficulties they are facing. This makes the regular fees and commissions that go along with that process even more burdensome. Instead of dealing with these difficulties, consider selling your home to a cash buyer for an easier and more inexpensive experience.

Real Estate Agent Commission

One of the common fees homeowners need to consider when selling their home is the real estate agent’s commission. This money doesn’t come directly out of homeowners’ pockets but rather is taken out of the final sale of the home. Usually, real estate agents take roughly 6% of the home’s final sale price as a commission for their work. If you’re dependent on the full sale amount to get you out of financial difficulty, these several thousand dollars can be difficult to do without. When you sell your home to a cash buyer, you work directly with the buyer, negating the need for a real estate agent. This allows you to keep all of the money that would usually go toward their commission.

Repairs

Another cost that can be concerning to homeowners when selling their homes is paying for any necessary repairs. If your home is in need of any major repairs, it can be difficult to sell without investing your own money toward those fixes. Once again, this can be financially burdensome to many homeowners. However, cash buyers don’t require any repairs to be made before making an offer on your home. Cash buying companies incorporate this into the foundation of their business plan. They purchase any home as-is and make any necessary repairs after the sale is finalized. Instead of investing money you don’t have into repairing your home, selling to a cash buyer can save you this money and the stress that comes with it.

Closing Costs

The final fees that are usually a part of selling your home are closing costs. These are processing fees paid to lenders to finalize the sale. The amount you need to pay varies based on the final selling price and the state you live in, but they are usually a few thousand dollars. Because cash buyers purchase homes for cash, there are no processing fees associated with this type of sale. This means that not only are closing costs no longer necessary, but the closing process itself can take only a day or two instead of a month. 

There are many benefits to selling your home for cash, including the money you are able to save. Cash buying companies do everything they can to make the selling process as quick and easy for homeowners as possible, including cutting out all fees and commissions. If you live in the Memphis area, Volunteer Buyers is a local cash buying company that can help you sell your home in as little as seven days.

Looking to sell your home for cash? To learn more about selling your home with Volunteer Buyers, click here!

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