Cash offer vs. traditional sale

 Tags: cash offerhomemark spainhomevestorsugly houses  

You no doubt have heard ads on TV, radio, and web advertising that somebody will make you a cash offer, close quickly, saving you all the traditional hassles of selling your home.

So what's the catch?  It's simnple.  It will be less money!  Now for some sellers that's ok.  Even though it is less money there can be other considerations that make it worth while.  Maybe you want to pick a closing date to coordinate with the purchase of your next home. Maybe you like the certainty of not having any financing or appraisal contingencies.  Of course with many of these companies there is also no commission or buyers closing costs for you to pay.

However, rest assured that these companies will take all that in to consideration and offer less since they will have those expenses when they sell.

Let's look at a theoretical comparison between the two scenarios.

A home  in a nice area and in good condition would sell retail on the open market for $250,000 but out of that there expenses.

$250,000

-$15,000 commission (traditional 6%) With Atlas Realty this will be much lower. I can explain in more detail when we meet but with my variable rate commission it will be between 3-5%.

-$5,000 toward buyers closing costs.  This is negotiable but it is quite common in Ga.  

- @$2000 repairs after home inspection. This is just an example but be certain that a buyer will do an inspection and the inspector will find items for repair.  Just plan on it.

So this $250,00 sale leaves $228,000 for your bottom line.  

With Covid 19 it seems some of the cash offer prices have gotten lower but my best guess would be a range of $180,000 to about $215,000.

There would be no buyer closing costs and if I manage the transactions for you the commission would be either 0% or 1% depending on which company was buying. ( Some of them pay me a referral fee and some don't)

At any rate in a best case scenario you still walk away with $13,000 less.  Whether or not that is the best for you is your decision.

The good news it that I can get you all the information so that YOU can make the best decision for YOU!

When we meet I can show you the retail values as well as an estimate of  your net proceeds. I will also discuss what I think the range of cash offers will be. If that range is worth considering for you then I can go ahead and solicit the cash offers on your behalf. Once you have all that information then you can decide to sell to a cash buyer or sell on the open market.  

The very best news is that there are no  upfront fees and I only get paid when your home is sold!

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