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Do Cash Home Buying Companies Charge Commission?
Today, home sellers have the option to skip the traditional sales process and sell their home directly to a fast cash buying company. One of the biggest benefits to sellers is that these companies never charge commissions. They can skip the commission because the sales method is radically different.
Traditional Sales Process
Traditionally, if you want to sell a house, you would contact a real estate agent, sign a sales contract, and list your home on the market. Photographs and a description of your home would be posted on the internet, and then you would wait for people to request a tour.
The sales agent invests their time and efforts into marketing your home and showing it to interested buyers. Often, they hold an open house. When an offer is made, the sales agent facilitates the sales contract and the closing.
Cash Sales Process
When selling your home to a cash buying company, there are no sales agents involved, and your home is not listed on the market. Instead, it’s a direct sale between you and the company. They take information about your home and calculate an offer based on your home’s features, location, and the local market.
The cash sales process not only eliminates sales agents but also a number of other costs, like third parties such as photographers, marketing writers, and office assistants. When you sell to a cash buying company, you will speak directly with someone who will be buying your home.
Closing Costs
The closing costs for a seller can be expensive, and the biggest part of that expense is the commission. The amount charged for commission varies by location, but it generally ranges from about 5 to 6 percent of the sales price. Then there are other costs such as taxes and fees.
The cash buying company doesn’t charge commission because there are no sales agents or third parties to pay. And, they’ll pick up any other closing costs as well. The offer you get will be the amount of cash you will leave with.
Selling a home for cash may be a fairly new concept for a lot of people, but cash buying companies have been in business for many years. Countless homeowners have benefited from the quick sale and no-commissions process.
Interested in selling your Utah home without paying commission charges? See how selling your home for cash can work for you.
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