When you go to sell your home, you may be surprised to discover that selling your home can actually cost you money at closing. That’s because you may need to cover something called “closing costs.” What are these costs? And is there any way to avoid them?
What are closing costs?
Closing costs are the fees involved with the real estate transaction and are a cost that must be paid apart from the actual cost of the home. The fees include transferring the title from the seller to the buyer, any attorney’s fees, title insurance, and even things like pest inspection fees. These are all rolled into one amount that needs to be paid at the time of closing. In most cases, the buyer will cover the majority of these closing costs, but they can negotiate with the seller to cover all or none of the costs at closing.
Can you avoid paying closing costs?
Yes. One of the easiest ways to avoid closing costs are to stipulate that the buyer must pay all of the fees. If you are the buyer of the property, you can avoid paying closing costs by rolling the costs into your mortgage, but remember that you’ll be paying interest on the fees. Another easy way to avoid paying closing costs is to sell your home to a cash buyer like Rent2Home. We pay cash for homes in York, PA and cover all of the closing costs so more of the money goes into your pocket when the deal is done.
Have questions about closing costs or want to get a cash offer on your home? Call Rent2Home today!