How much can be made from selling a home is a big deal to sellers. For many, it’s how they fund their next home purchase, whether they’re making a down payment or paying for the whole thing in full (that’s usually only when seriously downsizing or moving to an area with a much lower cost of living). There’s more to making a profit than just what you sell your home for though. How much you spend matters too. Fortunately, there’s a great way to save money when selling your home: selling to a cash buyer.
Commissions: 6%-7%
Real estate agents work hard to find homes that are a good fit for their clients. They deserve to be paid well for all that work. Pay works a little differently for real estate agents than it does for many other professions. Real estate agents are paid on commission. Assuming there are two agents involved, you’re looking at 6%-7% of the sale price of your home going to commissions. That cost usually falls on the seller since they’re the person making a profit.
On the other hand, professional home buying companies like Minnesota Home Guys (a subset of cash buyers) don’t use real estate agents. You don’t need one either when you sell your home to us–the process is that simple. That’s easily several thousand dollars saved.
Closing Costs: 3%-4%
Other closing costs are often split between the seller and the buyer. On average, sellers are left responsible for closing costs that fall between 3%-4% of the sale price of the house. In some cases, the number might be higher. Sellers commonly offer to cover more closing costs to encourage a buyer to complete the transaction.
Closing costs aren’t an expense you have to worry about when you sell to Minnesota Home Guys though. We cover 100% of closing costs. That’s a few thousand more dollars you can save.
Repairs: $10,000-$55,000
Before the selling process even begins, many sellers shell out tens of thousands of dollars in home repairs. The better the home’s condition, the higher its value. While sellers spend an average of $15,000 getting their homes ready to sell, the cost of repairs often ranges between $10,000-$55,000, sometimes even more. While a lot of the cost is recouped in the sale, that’s still a lot of money upfront.
Selling to Minnesota Home Guys lets you save all of that money. Sure, a fair offer will reflect your home’s condition–a house in worse condition will get a lower offer. Still, if you don’t want to spend a ton on repairs, we could be the perfect buyer. We don’t mind project houses. We don’t even mind if your house is dirty.
Selling to a cash buyer makes it possible to save tens of thousands of dollars. You’re easily looking at $40,000+ on an average-priced US house that you aren’t spending on commissions, closing costs, and repairs. That’s a substantial amount of money saved simply by selling to the right buyer.
Want to save money selling your Plymouth, MN house? Minnesota Home Guys is the buyer for you! Click here to get started today!
