Cash home buying companies are known for buying your home as-is, in any condition. They are also known for taking the hassle out of the home selling process. But can selling your home to a home buying company save you money, as well? While these businesses purchase homes at a discounted price, they can save you precious capital that could be much better spent elsewhere. Here’s how!
Fewer Mortgage Payments
With every month that you are still in your home, you will be making mortgage payments. While you can get the principal back when you sell your home, that is definitely not the case with the interest, insurance, and tax payments. Depending on where you are in your payment schedule, these payments could be making up the bulk of your mortgage. Even if you have paid the house off, the taxes and insurance alone can take a heavy toll on your finances. Selling your home the traditional way takes months. On the other hand, when you sell your home to a cash home buying company, you can be out in a matter of days or weeks and put those pricey payments behind you much more quickly.
No Repairs or Remodels
Today’s typical home buyers won’t look twice at a home that isn’t in tip-top shape. This means that selling your home the conventional way could involve extensive repairs and remodels. You will be putting ready money into the fixing up of your home, and it might not even increase the property value. Without a sure return on your investment, you could be spending large sums of money merely to lure prospective buyers to your home. Instead, skip the repairs and sell your home to a home buying company as-is.
No Closing Costs
In a traditional sale, the seller takes a big hit at closing. In general, the seller pays the commissions for both agents. At around 3% each, that is a whopping 6% off the price of the home. Add another 2%-4% on closing costs, and you could lose a staggering 8%-10% of the sale price. For a $200,000 home, that is a painful $20,000 gone.
Home buying companies like Simple Cash Offers can save you precious money on the sale of your home. Even though they buy homes at a discounted price, you could walk away ahead with fewer mortgage payments, no needed repairs or remodels, and no closing costs or realtor commissions.
Are you looking to sell your home in Central Indiana? Find out how Simple Cash Offers can save you both time and money by clicking here. Then, reach out and get your free cash offer today!