When you think about selling your home, one of the things that is bound to be at the forefront of your mind is the money that is involved. Generally, you have two options: to sell your home through the traditional sales process or to sell it to a cash buyer. In some cases, going the more traditional route can get you a higher price for your home. Did you know that going with a cash buyer has the potential to save you more money though?
Close the Deal Faster
Closing the deal on your home can take time. That can easily translate into more expenses for you. If you’ve already found a new home and closed on that one, you could find yourself paying two mortgages, insurance, and utilities for two properties until yours sells. That can add up very quickly. The faster you close the deal on the home you’re trying to sell, the faster you’ll be free of that mortgage and the financial obligations that come with owning it.
No Need to Shell Out Money for Repairs
Most traditional home buyers have certain expectations for what condition the house is in. If it doesn’t meet those expectations, they’ll probably walk away, hence the need to spend money (often a lot of it) on repairs prior to the home even going on the market. When you sell your home to a cash buyer, on the other hand, you can keep that money and save it for, well, anything else. Cash buyers like Minnesota Home Guys don’t mind project homes, so you don’t need to worry about fixing it up first.
No Closing Costs
Did you know that selling a home could cost you money? While in many cases the buyer is responsible for the closing costs, the seller can be responsible for some as well. You could end up paying between 10-20% of the sale price in commissions, closing costs, holding costs, and repairs. On the other hand, if you sell your home to a cash buyer, we close fast (sometimes in as little as 7 days), have zero fees, and pay for your closing costs. That alone should save you a decent chunk of change.
Selling a house usually has people thinking about the money they’re going to get from the sale. What is less commonly thought of are the costs associated with selling. One of the benefits of selling your home to a cash buyer is the ability to opt out of a lot of those expenses. While everyone’s circumstances are different, that can be a huge selling point in favor of selling your home to a cash buyer.
Need to sell your home fast? Read this next: Minnesota Homeowners: Here are the Best Tips to Sell Your House in a Month or Less
