Maybe you have heard about home buying companies that will purchase your home as-is, fast, for cash. You have probably wondered if there is enough value in going that route to make it worth selling your home at a discounted price. The answer is a resounding yes! The money you save can more than compensate for the amount that is discounted. Here are three key ways that selling to a home buying company will save you money.
No Repairs or Updates
Today’s typical home buyers are nothing if not finicky. They won’t even look twice at a home that isn’t in tip-top shape, pristine condition, and possesses all the popular updates and amenities. This means that the first step in a conventional home sale is always fixing, renovating, remodeling, and updating the house and landscaping to attract buyers. You probably don’t need to be told how expensive that can be. When you sell your home to a home buying company, you don’t have to lift a finger getting it ready to sell. These companies will purchase your home exactly as it is, right now.
No Realtor Commissions
It’s easy to forget about realtor commissions because they sneak them out of the proceeds of the sale. The idea is that you won’t miss money that you never see. Don’t fall into that trap! Be sure that you understand just how much you will be paying in realtor commissions. On most home sales, it comes out to 6% of the sale price. On a $300,000 home that totals a whopping $18,000. On the other hand, when you sell to a home buying company you won’t spend a penny on commissions.
No Closing Costs
Closing costs are another sneaky expense that can really add up. As the seller, you could end up spending around 2% on the price of your home in closing costs. 2% might seem small but on a $300,000 home, you are paying $6,000 just to close. Not so with most home buying companies. These companies generally cover all of the closing costs.
As you consider your options, don’t compare a conventional sale with a sale to a home buying company as though you are comparing apples to apples. You aren’t. There may be a significant difference in the amount of money the two will offer you, but there is also a significant difference in how much money you are required to spend on the sale.
Do you want to save money on your home sale? Learn more about how selling your home to NextChapter Realty can save you money by clicking here!