Home sellers usually want to get as much as possible for their home sale. This is why it’s essential to avoid unnecessary costs associated with selling a home, which can eat into your profits after closing. If you are considering selling your home in Lancaster, there are two major options: you can either sell your house for cash or go the traditional route of selling a house. Today, we’ll look at the difference between the two home selling options.
Cost of Repair
Companies that buy houses for cash will buy them as-in. This is especially important when your home is not in the best condition. If you opt for the traditional route, you’ll incur significant preparation and repair. But all of these won’t matter if you sell your house to a cash buyer.
Real Estate Agent Commissions and Fees
The commissions of a real estate agent Lancaster, Ohio can be as high as 6 percent of the sales price. That’s about $30,000 if you are selling your home for $500,000. The more money you get for your property, the more you get to pay. However, you can avoid paying real estate agent fees and commissions when you sell to a cash home buyer.
To finalize a traditional home sale, the lender of the buyer will need an appraisal in order to make sure the property is worth the amount the buyers have agreed to pay. With the traditional route, if the mortgage lender appraisal is less than what the home buyer is offering to pay for your property, the buyer may ask for a price reduction or concession. Without a price reduction, the buyer may not be able to take out a loan for the home and thus back out of the sale.
With as-in home sales, no mortgage lenders are involved. The we buy houses for cash companies has the money needed to buy your house, and they don’t require a loan. So, the company will simply pay you for the agreed-upon price.
Exposure is one of the most important reasons home sellers choose to list their property with a real estate agent Lancaster, Ohio, help. A real estate agent will list your home and discuss the marketing steps needed to bring in offers, including taking photos of the home and listing the property online. These strategies could open the door to several interested buyers and high offers. Listing the property with the help of a qualified real estate agent can help increase your chances of selling your house for the price you want.
Depending on your situation, closing is an important part of a home sale. If you need to move quickly or your property is in danger of foreclosure, you may not have time to close. The cost of closing can vary depending on several factors. There are a lot of fees that will impact your profits. This doesn’t include real agent commission. If you are willing to sell your house for cash, you’ll only be required to pay the prorated part of the county taxes.
Get Your Free Cash Offer!
At 740 Cash Buyers, we buy houses for cash and in any condition-no clean-up or repairs necessary. If you are ready to sell a house fast in Lancaster, we can help.