If you have ever sold your property using a traditional method, you might have paid closing costs to your real estate agent. Usually, closing costs comprise 3-5% of the total sale price of the house. Well, that is a lot of money.
The good news is you can sell your house in Clawson without facing unnecessary expenses and hassles. How? The answer is Detroit Cash For Homes. We have years of experience helping people buy their properties. Plus, we do not charge commissions, closing costs, and other fees.
While Detroit Cash For Homes does not charge any closing costs, several homeowners ask us a common question – what is the closing cost? So, we are here today to tell you what closing costs are exactly.
- What are closing costs?
Real estate closing costs are the fees sellers have to pay to their respective real estate agents when closing the house deal. However, these fees may vary depending on various factors, like your current location, your realtor, and your home’s condition.
Generally, closing costs may involve expenses, such as:
- Transfer costs
- Transfer taxes
- Appraisal costs
- Notary fees
- Origination fees
- Bank fees
- Inspection fees
- Title insurance
- Recordings fees
- Courier fees
- Underwriting fees
- Credit report fees
- Wire transfer fees
- Administrative fees (if applicable)
- Liens (if your house needs title clearance)
- Pending mortgage or loans against your property
- Commissions.
- Who is liable to pay closing costs?
If you are considering selling your home through a real estate agent, you will have to pay the closing costs. Please remember, your potential buyer may have to cover some of these expenses. But when it comes to a commission, it will be on you 100%. The commission is usually 6% of the total sale price. Apart from this, if you are behind on your mortgage, you have to pay off the balance at the closing table. As compared to the commission, the mortgage balance takes away most of your money.
- Are property taxes and HOA fees part of closing costs?
No, property taxes and HOA fees are not referred to as closing costs. These fees are prorated at the closing table, and both seller and buyer pay them.
- How to avoid the closing costs?
By working withreliable estate buyers in Clawson, MI, like Detroit Cash For Homes, you can avoid all these costs and sell your house without any hassle. At Detroit Cash For Homes, we have helped numerous homeowners ell their properties at a fair sale price. We buy houses in Clawson as-is, which means no enhancing the curb appeal of your home.
Besides this, we will cover the repair and upgrade expenses while taking care of costs related to closing costs. So, you do not have to worry about any investment while selling your house to Detroit Cash For Homes. Our selling process is not only quick but also requires zero investment. With numerous satisfied customers, Detroit Cash For Homes has marked a position as the best estate buyers in Clawson, MI.
The cash offer that we give our clients is fair for everyone. For example, after evaluation, if we find out your property needs a lot of work, we will make a contingent offer. However, you will not receive as fair of a cash offer as Detroit Cash For Homes.
If you want to sell a house fast for cash in Clawson, MI while skipping closing costs, get in touch with Detroit Cash For Homes. We offer no-obligation consultation services with a no commission, no repair, and no closing cost selling process.
Related Blog – Things to Consider When Selling a Property with Detroit Cash For Homes