Selling your home to a cash home buying company is fast and easy, but you may be wondering if you’re going to get a good deal. Individual circumstances can vary, but in most cases, selling a home on the real estate market can be expensive. A cash sale may very well save you money.
Cost of Repairs
Perhaps the biggest expense involved in selling a home on the market is the cost of repairs. You could spend thousands of dollars on fixing up your home, especially if high-priced repairs are needed, such as a new roof. If you skip repairs and sell your home “as is,” you’ll have to be willing to accept a much lower sales price than average.
A cash buying company will never ask you to do repairs. They will buy your home in its present condition. Though the cash offer will consider the condition of your home, you could very well come out ahead financially.
Cost of Waiting
When you list your home on the market, you never know when you’ll get an offer. It could be months. Then, after you accept an offer, you might have to wait another 60 days or so before closing. During that waiting period, you have to keep paying upkeep on the home. That includes any mortgage payments, insurance, and utilities.
Selling to a cash home buying company takes less than 30 days, start to finish. You won’t have to deal with the financial burden of ongoing home expenses.
Cost of Closing
Finally, in a traditional sale, there’s the high cost of closing. About 5 to 6% of your sales price (or more, in some areas) will be deducted for commission. You’ll also pay other fees and taxes and closing.
When selling to a cash home buying company, you’ll never pay commission or closing costs. Cash buyers don’t use brokers or agents, so they don’t pay commission. You can save thousands of dollars at closing.
You can do the math and compare the expenses of selling the traditional way vs. what you’ll get for a cash offer. If you contact a cash buying company for a no-obligation offer, they will discuss your options with you. A cash sale could be your best choice.
Need to sell your Utah house in a hurry? See if you can save by selling your home for cash.