If you are considering selling your house in Winnipeg, you may have seen ads saying, “We buy houses for cash, not for commissions!” It definitely sounds like a deal that everyone who is looking to sell their home dreams. Are you one of them who wants such a dream deal? You get to avoid open houses and pocket more cash. The most common question most homeowners never ask is: Are no Commission Deals really fee-free? Are you curious to know the answer to such a common question? This article is for you. The truth behind this is that while selling directly to a home-buying company, such as AJ Buys Houses can save you thousands in realtor commissions. It is important to understand these costs upfront that can help you make the perfect and smartest financial decision.
“No Commission” Doesn’t Mean “No Costs”
When people sell their house to a professional home buyer, they usually skip the real estate agent’s commission. A real estate agent’s commission is typically between 3% to 6% of your home’s sale price.
Let’s understand this with an example, suppose if your house sells for $400,000, if you don’t pay commission to the agent, you could save up to $24,000.
It can be a big deal and due to this, many Winnipeg homeowners choose companies, like AJ Buys Houses.
Legal Fees Still Apply
No matter how you sell your home, you need an experienced and skilled real estate lawyer or notary to complete the sale. Real estate lawyers can handle all the tasks such as title transfers and ensure the funds are distributed properly.
Legal professionals can still charge for their services. The legal fees can vary, but they usually range from a few hundred to over a thousand dollars based on the complexity of the sale.
Note: It is advised that you need to ask if the buying company covers your legal fees. AJ Buys Houses usually includes this in our offer to make the process easier and more transparent.
Closing Costs and Adjustments
Every property sale in Winnipeg can involve closing costs and adjustments, even if the commission is not involved. It may include:
- Title transfer or registration fees
- Property tax adjustments (if you’ve prepaid taxes)
- Unpaid utility bills Discharge fees for your mortgage
Closing costs and adjustments are not hidden or unfair. These costs are the part of any real estate transaction.
Recommendation: It is advised to request a sample statement of adjustments before closing so you are not caught off guard.
Mortgage Discharge & Prepayment Penalties
If you are paying off your mortgage early due to the sale, your lender can charge a discharge fees or a prepayment penalty. Mortgage discharge and prepayment penalties can range from a few hundred dollars to thousands. The discharge and penalty depend on your mortgage type and remaining term.
These penalties usually surprise sellers who thought that their only cost was the commission for the agent. It is advised to ask your lender for a mortgage payout statement to know the exact costs before you agree to sell.
Repairs and Property Condition
One of the major benefits of selling to a we buy houses company is that such companies generally purchase your home as-is- no renovations, no repairs, no cleaning required.
Still confused? Don’t worry, we will understand this with an example. Let’s consider if your home needs $10,000 worth of roof work, a buyer may offer $10,000 less instead of asking you to fix it. It is important to understand that the cost is effectively baked into the offer
Always remember to ask the buyer to calculate their offer, particularly how they factor in needed repairs or updates.
Moving and Relocation Expenses
No commission is not meant to skip the moving and relocation expenses. Whether you are moving across Winnipeg or out of province, relocation costs can increase significantly.
Some factors, such as packing supplies, movers, truck rentals, and temporary storage can all take a bit out of your sale proceeds. If you are in a situation where you need to move quickly, you need short-term accommodation before your next home is ready.
Reduced Sale Price vs. Full Market Value
Last but the most important point and often the biggest hidden cost. When you are considering selling your home traditionally, you aim for minus commission or market value. When you sell to a cash home buyer, you are generally accepting a slightly lower offer in the exchange for a guaranteed and stress free sale.
Why AJ Buys Houses Canada Is Different
At AJ Buys Houses, we believe that transparency is everything. We are committed to buying the homes directly from the homeowners in Winnipeg. We directly buy homes from those homeowners who want to sell fast without commissions, no hidden fees, and no games. At AJ Buys Houses, our team is committed to offer services as:
- We cover most closing costs. Legal fees and standard closing expenses are generally included.
- You will get an offer fast with no obligation.
- You keep 100% of your home’s value without realtors fees.
- No need for repairs, cleaning, or staging.
- You can choose flexible closing dates when to move without any rushing or last moment stress.
While no commission does not always mean completely fee free, but working with AJ Buys Houses, you can rest by ensuring that there will be no surprises or hidden deductions.
Contact Us Today!
Company Name – AJ Buys Houses
Address – 404 Smithfield Ave, Winnipeg, Manitoba R2V0C9
Contact No. – 204-295-5574
Email ID – info@ajbuyshouses.ca
Final Thoughts
If you want to sell your home fast in Winnipeg and don’t want to pay commission? But, you are confused or tense about this, can it happen or not? Then, there is good news that yes it is possible. It can be a great decision to sell your home fast without paying commissions when handled transparently.
Some selling expenses, such as legal fees, adjustments, or mortgage discharge costs can still counter, but working with a reputable company like AJ Buys Houses, you can ensure the best deal ever.
In this blog, we have concluded that no commission does not mean no cost. No commission generally means no stress, no surprises, and no waiting.
If you want or are ready to sell your Winnipeg home quickly, why wait? You just need to understand what you will net. Feel free to contact AJ Buys Houses for a free and no-obligation offer today.
Hope you will get the best deal that you have dreamed of!
Frequently Asked Questions for Buy Houses in Winnipeg:
Question 1. Is it true that no commission home sales are always free of all fees?
Answer. No, it is not true. It is not possible that no commission home sales are always fee-free. You will still have typical costs, such as legal fees, mortgage discharge, or closing adjustments. You will avoid paying realtor commissions that results in saving thousands.
Question 2. Do I need to pay for repairs or cleaning my house before I want to sell?
Answer. No, it is not essential to pay for repairs or cleaning the house before selling. Companies like AJ Buys Houses buys houses in all conditions. No need to repair, renovate, or stage your home.
Question 3. Is it important to start planning early before selling houses?
Answer. Yes, it is recommended to always start planning your move early so that you can avoid the last-minute hustle and high costs that can add extra stress.
Question 4. Why do I need to compare direct cash offers and traditional sales?
Answer. It is advised to compare your net proceeds from both the direct cash offer and traditional sale. You will be surprised to know that it is smaller than the difference you were expecting. This will be smaller once you remove realtor commissions, staging costs, and months of holding expenses.
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