Selling your home to a home buying company can be beneficial in many ways, but do they charge commissions? Commissions can take thousands of dollars away from the sale and leave you with money still owed to your lender. Read on to learn whether or not home buying companies charge commissions.
Why Commissions Are Usually Charged
Traditionally, when you sell your home, you pay a portion of the final selling price as a commission to your real estate agent. Your real estate agent is a necessity in this type of sale to help you find a buyer, navigate negotiations, and make sure everything goes smoothly. It’s important to pay them for their services, but their commission can end up being quite a lot of money. For example, if you sell your home for $500,000, your real estate agent will receive $30,000 of that money as commission. This is a big chunk of your offer that no longer goes to you.
When you sell your home to a home buying company for cash, this commission is no longer necessary. Selling your home in this way allows you to work directly with the buyer from the very beginning. You no longer need to hire a real estate agent to help you navigate the process. Instead, home buying companies provide you with transparent service that helps you be a part of every step of the process. These companies will also never charge you a commission for working with them. They realize the way you help their business by selling them your home, so they will never charge you money for doing so.
Other Ways to Save
When you sell your home to a home buying company, you don’t just save money on commissions. There are many ways you can save money when selling your home this way. One big way is by selling your home as-is. Home buying companies will never require repairs to be completed before they present you with an offer on your home. You can save thousands of dollars this way. When selling to a home buying company, you can also save money through closing costs. Traditionally, closing costs constitute roughly 2% of your final offer and can end up being thousands of dollars. If you run across any of these charges when you sell your home to a home buying company, the company will cover them in full.
There are many ways you can save money when selling your home to a home buying company. These companies never charge any fees or commissions when you sell your home and can make the selling experience much easier. If you live in the Greensboro area, Joe Homebuyer can help you save thousands while selling your home.
Have a Greensboro home you want to sell quickly? Joe Homebuyer can give you a no-obligation cash offer on your home in as little as 24 hours. Click here to get started!