Closing Costs Involved When Selling to a Cash Buyer

Sellers don’t just make money when selling their homes–they often have to spend some as well. Sellers are often on the hook for expenses like real estate agent commissions, repairs, and closing costs. When it comes to expenses like closing costs, however, how the buyer is paying can impact what closing costs are involved.

Closing Costs You Can Skip

Some closing costs are associated with the lenders who finance mortgages. Because cash buyers already have the money they need to pay for your home, they don’t need the services a lender offers. That means that appraisal fees, credit report fees, loan origination fees, loan discount points, application fees, and underwriting fees aren’t included in the closing costs involved in the transaction.

Buyer’s Closing Costs

Just because some closing costs are no longer necessary during a cash sale doesn’t mean that there aren’t any closing costs to pay. Cash buyers will still need to pay closing costs for things like the title search, owner’s title insurance, transfer and property taxes, courier and escrow fees, and an HOA transfer fee. Buyers may be required to pay the entire annual premium for their home insurance at the closing. If an attorney is required to review the title or be present at closing, the buyer will pay the attorney fees as well.

Seller’s Closing Costs

Sellers are also typically responsible for a share of closing costs. They are usually the ones who pay for real estate agent commissions if either the seller or buyer utilizes an agent’s services. A seller may be responsible for the same fees as a cash buyer. That’s in part because some sellers offer to cover the buyer’s closing costs. In addition to fees they may share with the buyer, sellers are also responsible for mortgage payoff and prepayment fees, as well as prorated property taxes. That is unless you sell to a cash buyer like Joe Homebuyer of Dallas. We cover all the closing costs so you don’t have to.

Closing costs are a group of expenses that sellers can normally expect to pay before the sale is completely finalized. Of course, if the buyer is paying with cash, there are often fewer closing costs involved. That said, selling your home to the average cash buyer will still involve a few closing costs. If you want to avoid them altogether, you need a professional home buying company. You need Joe Homebuyer of Dallas.

Covering closing costs is just one of the ways selling your home to Joe Homebuyer of Dallas can be a better deal for sellers than selling through a local real estate agent. Click here to see other ways we make things better for sellers today!

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