So you’re stuck in between a rock and a hard place. You’re trying to sell your home, but you need to sell in ASAP, and you don’t want to lose out on any money. Maybe it’s not in the best condition anymore, or you’re facing foreclosure with your bank. You’re running out of options, and you’ve heard that companies are buying homes for cash but what to know what cash buyers charge for their service.
Surprisingly, that’s not the case! Companies like Property Pals USA will make you a cash offer for your home this week and can actually save you money on fees, commissions, appraisals, and inspections. Let’s take a look at the costs associated with selling a home to a cash buyer!
Realtor Commission Fees
The seller usually pays for both agents’ commissions during a real estate transaction. While five or six percent doesn’t sound like that much, it adds up quickly. If your house sells for $300,000, a six percent real estate commission would be $18,000. That’s a lot of money!
If you decide to sell directly to a cash home buyer like Property Pals USA, there is no need for a real estate agent. Therefore, you won’t need to pay real estate commissions. This can save you thousands of dollars during the selling process.
Preparing Your House to Sell
Some of the other major costs that sellers encounter when trying to sell the home are when they are preparing their house to get ready on the market. If your house has severe damage or necessary repairs, traditional buyers likely won’t be interested. In order to market your house to them, you’ll need to spend time and money on repairs. With cash offer buyers like Property Pals, you won’t have to spend any money on repairs. We buy homes as-is, whether they’re damaged or just plain ugly homes.
On top of repairs, many sellers pay for professional cleaners to get their house in tip-top shape in order to sell quickly. Cleaning can cost up to $500, money you won’t have to spend if you sell to Property Pals USA. You can even leave your unwanted possessions behind if you want. We’ll take care of everything.
The same can be said for home staging. Sellers can stage a home in order to encourage buyers to envision their future home. Staging a home, however, is not cheap. Pricing starts around $1500 and goes up with the size of the home, plus for each additional month that you’re borrowing the furniture. All this money can stay right in your pocket where it belongs if you sell to a cash offer company.
Who pays for the title search is typically decided during negotiations, so it might fall on the buyer or seller. It is often given as a seller concession and therefore paid for by the seller. The seller commonly covers both the title search and title insurance. A title search can cost anywhere from $200 to $500. Title insurance can cost up to $2000, depending on the house’s value.
What do cash buyers charge when it comes to title fees? When selling to a cash buyer like Property Pals USA, we will cover all the title fees. That means that as a seller, you won’t be responsible for any costs relating to title and title insurance. This can save you up to $2500 or more. Talk about big savings!
Depending on the state, a closing attorney might be required to oversee the sale of a home. Whether required or not, it’s always a good idea to have a legal professional overlooking the sale of a home. These fees are generally split between the buyer and the seller and can range from $500 to $2000, depending on what state you live in.
When it comes to attorney fees, what do cash buyers charge? Property Pals USA covers all attorney fees that might come up when you sell your home to us for cash. That means you can save from $250 up to $1000 by selling your home to us for cash. You can buy a lot of things for that kind of cash!
Appraisals and Inspection
The buyer typically covers appraisals and inspections, but the seller might occasionally help out with these closing costs. When selling to a cash buyer like Property Pals USA, you don’t have to worry about an appraisal or inspection at all. This might save you some money, but it will definitely save you some headaches.
Since there will be no inspection, you won’t have to worry about having your home pre-inspected. A pre-inspection is just like it sounds. Sellers often have an inspection done on their home if they’re unsure about any potential damage or issues with the property. With a pre-inspection, you’ll know of any potential problems that might arise during the inspection process later down the line. A pre-inspection can cost sellers up to $700 depending on how big your home is, thankfully it isn’t something that cash buyers charge so you won’t have to worry about it when selling to Property Pals USA.
The Truth of What Cash Buyers Charge
Not only are there no costs involved to sell your home to Property Pals USA, but you can actually save tons of money when compared to selling your home through the traditional route with real estate agents. While each of these fees individually might not seem like that much money, throughout the entire process, you can save thousands of dollars.
Property Pals USA will cover all attorney and title fees, plus you don’t have to worry about real estate commissions or costs associated with preparing your home for sale, plus there are no real estate commissions to worry about. Not to mention, you’ll be able to close quickly without the hassle of an appraisal or inspection. Win-win!
So when you’re looking to sell your home and reduce the fees you pay, remember all of the fees you will save and what cash buyers charge to save you money.