How Much are Closing Costs on a Cash Sale?

One of the most frustrating parts of selling your home is paying for all the hidden fees and commissions that are required. Selling your home is meant to make you money, and paying for these fees can make things more difficult for you. Selling your home to a home buying company can make things easier on you.

No Closing Costs

Yes, you read that right. When you sell your home for cash to a home buying company, you don’t have to pay closing costs. Traditionally, closing costs are processing fees that you pay at the end of the sale so that lenders can finalize the transaction. However, these costs add up quickly, and they can end up being several thousand dollars. Closing costs are one of the big stressors that homeowners face when selling, and home buying companies have taken this into consideration. Because these companies are paying for your home in cash, there’s no longer a need to process anything through a lender. This means that those costs are no longer relevant. If at any point during the process extra costs do come up, the home selling company will cover them in full.

What are Home Buying Companies?

The term “home buying companies” may mean absolutely nothing to you, and make you more hesitant to sell your home in this way. These companies are essentially founded by an individual who is passionate about real estate investing, and has chosen to do so on a larger scale. Most of the home buying companies you’ll find in your area are family owned and operated, run by people who want to make home selling more accessible to homeowners everywhere. These companies find homes like yours and purchase them for cash. They then renovate the property in order to resell it or convert it into a rental property. 

How Else You Save

When home buying companies rethought the home selling process, they took more than just closing costs into consideration. You save money throughout the entire process of selling your home and do things in a much more efficient way. The first way you’ll save money is by avoiding a real estate agent’s commission. You work directly with the buyer for this process, so you’ll no longer need a real estate agent. Secondly, since home buying companies always plan on renovating a house after they purchase it, they buy all of their properties as-is. You’ll never need to do any expensive repairs before selling. All of these adjustments to the process can save you thousands of dollars, and a lot of stress.

If you really want to save time and money when selling your home, selling to a home buying company is the best way to do so. This means of selling your home allows you to do so without paying any sort of fees or closing costs. It’s truly the easiest and most inexpensive way to sell your home.

Have a home in the Memphis area that isn’t selling? Volunteer Buyers can give you a no-obligation cash offer on your home in as little as 24 hours! Click here to learn more.

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