Selling a house on the open market is expensive. We are not only talking about repairs and renovations costs, commissions, or marketing charges. Our focus is on the expenses related to holding a property.
When it comes to holding costs, they affect the sale price you will receive upon closing. If you decide to sell your house in Clawson, you may have to wait for months before you get your money. Why? Most buyers do not have cash ready. They depend on loans from banks and financing institutes to make a purchase. All this will delay the selling process. As a result, you have to spend thousands of dollars to hold a property.
You can avoid holding costs by partnering with cash home buyers like Detroit Cash For Homes. This is because we buy houses in Clawson as-is without listing and marketing.
In case you decide to take a traditional route, we will list some holding costs you will face when selling a home through a real estate agent.
-
Utilities
It does not matter if you live in your house when it is listed on the market. All utilities must be working. After all, your potential buyer will move in once the deal is closed. Until your property is on the market for sale, it is your responsibility to check that all utilities are in order. Therefore, be ready to pay hundreds of dollars every month.
-
Mortgage payments
If your house has any mortgage payments, you cannot neglect them. The mortgage could cost hundreds of dollars per month. For example, say you are preparing to sell a house fast for cash in Clawson, MI to cover medical expenses. Mortgage payments can lead to tough times and will reduce the sale price you will receive.
-
Maintenance
Even when you have listed the house, you have to undertake regular repairs and maintenance. Remember, this can quickly add to your home selling budget and affect the sale price. The best solution to this problem is to consider a faster sale. Detroit Cash For Homes can help you in this regard.
-
Insurance
As long as you have house ownership, you have to deal with homeowners insurance. It is applicable even while it is listed on the market. It may seem the biggest evil to your sales profits, but it is necessary.
*Note: Insurance is comparatively higher for landlords than for owner-occupied houses.
-
Property taxes
Property taxes add up quickly. However, how much you need to pay depends on your location. Some places in the United States have higher property taxes than others.
The bottom line
The more the wait, the less the profits on your house sale will be. In some cases, you may have to wait for six months or more to get an offer and close the deal. But if you plan a direct sale to Detroit Cash For Homes, it will eliminate the months of waiting. Also, our selling process does not involve staging, repairs, and marketing, which means extra savings. We close the deal within a week. Hence, there is no holding period involved.
If you wish to sell your house in Clawson fast, call Detroit Cash For Homes.