As a home seller, you are required to meet part if not full cost of closing a home. Closing costs refers to all applicable fees which are associated with closure of a given real estate transaction. These fees vary depending with the type of real estate transaction and parties involved and it can significantly reduce the overall home value after completing a sale. But is it possible for you to sell your home without closing costs?
Fortunately YES, it’s possible! There is available option that you can use to sell your house fast without even minding about catering for closing costs.
Selling to Professional Home Buyers
When you engage a professional home buyer, they will conduct home appraisal and give you a cash offer. The real estate investor will buy the home as is and cater for all the closing costs. A typical closing cost can range from 6-10% of the home selling price and you can make huge savings when you opt to sell your house to a real estate investor.
Some of the most common closing costs that home sellers incur when closing a home sale include; mortgage payoff fees, liens, title insurance, property taxes, attorney fees, transfer taxes and recording fees.
When you sell your home through a real estate agent, most home buyers will ask you to cater for the closing costs. In such a situation, you might end up incurring a lot of expenses which will significantly reduce your profits. That’s why selling your house to a professional home buyer makes a lot of sense.
As a home seller, you will not only avoid incurring the closing costs but you will also avoid the hassle of selling a house by yourself or having to wait for longer period before you get a reasonable offer.
For Sale by the Owner (FSBO)
When you sell your home by yourself, you will save money that you would have otherwise paid a real estate agent. However, the issue of not paying closing costs will depend with the type of home buyer that you will get since the obligation of catering for the closing costs is with a home seller. There are home buyers who won’t mind paying for home closing costs while in most cases the home seller and home buyer negotiate and they can agree to share closing cost expenses.
As you can see, selling your home to a real estate investor is the best option for any home seller who wants to avoid paying for the closing costs. Always engage a reputable real estate investor in your local area in order to get a good offer and faster home closing.