Get Epic Profits When Selling Your Home to Homebuyers
Selling a house through traditional listing methods and getting a profit is not easy. There are many things to consider, such as the market, closing costs, taxes, realtors commissions, and many other expenses involved in getting your home ready and sold. Numerous homeowners get little to no money from their houses after all these expenses.
However, selling your home to homebuyers is a great way to earn more money and, in some cases, get epic profits. In this blog post, we’re going to share six ways you can save money and get a higher profit after selling your home to a homebuyer.
1. The selling time is reduced from 3 months to days
Placing your house on listing websites and getting it ready, then waiting for a potential buyer to get a mortgage approved, takes a lot of time and money. Traditional home selling can take a minimum of three months; some properties even stay on the market for six months. While waiting for the sale, the homeowner still pays taxes, utilities, maintenance, and more.
On the other hand, homebuyers have enough money to purchase properties straight up without financial institutions’ intervention. The selling time gets reduced from 3 months to days; homebuyers don’t split the money in over months, pay on the closing day, and make the payment in cash.
2. Avoid investing more money in your house
Homeowners usually make repairs or restorations to increase their homes’ value and try to sell them at a better price. However, in most cases, they aren’t able to recover the investment after the sale.
Rather than investing money on a property you no longer want, you can spend on your new house or save up the money. Homebuyers give you the chance to save up on repairs, cleaning, restoration. Regardless of the property’s condition, they will buy it, even if it requires extensive maintenance.
3. Save on fees and commissions
Whether you’re selling your house on your own or through a real estate agent, you’ll have to pay fees and commissions. However, if you choose to sell your home to a homebuyer, there are no costs associated with the selling process, as they are the buyers. This is also why the entire process is much faster, as mentioned before.
4. Closing costs are covered
Association fees, attorney fees, property taxes, title insurance, and transfer taxes are some of the closing costs homeowners face. Although they are negotiable with the buyer, in most cases, the seller is the one who pays for them. As part of the negotiation process, some homeowners might also be requested to pay a courier fee, brokerage fee, and escrow fee.
With home buyers, on the other hand, you save up all closing costs. Homebuyers have a team that takes care of all the paperwork and costs involved in closing a property sale. They also work with local and trusted title companies.
5. Avoid inspection and financing contingency
A financing contingency serves to protect the buyer by giving him or her a way out even after signing the contract. They are allowed to request an inspection and back out from buying the property if they find anything they don’t like. They can also back out if they are unable to get a loan.
In the meantime, sellers usually take the house off-market, where they risk starting the selling process again weeks later if the buyer decides they no longer want or can’t purchase the house.
Homebuyers, however, don’t back down from the offers they make. The amount of money promised is what you get, without the need for inspection or financing contingency.
6. Appraisals are not needed
Appraisals are usually needed when a home is up for sale. Lenders require appraisals to approve loans, and although buyers usually pay for them, in many cases, sellers are requested to pay. If you’re working with a real estate agency, one of the first steps will be to get your home appraised, cutting into your profits.
However, homebuyers don’t request appraisals. It’s enough with the information and photos you provided for them to make you an offer.
Discover How Much Money You Could Earn With Us
If you would like to get a better idea of what it would be like selling a house to a homebuyer, we invite you to get in contact with Opening Doors Properties.
We’ll make you a cash offer within 24 hours, with no obligation. Weigh your options and calculate all the expenses you could be saving.