How to Sell My House With No Closing Costs - We Buy Houses Memphis

How to Sell My House With No Closing Costs

Did you know the US average for closing costs is $5749 per sale? If you have an expensive property, expect this amount to be much higher. So how can you avoid these hefty fees?

In many instances, your only option is to bring them down as much as possible. Read on as we discuss how to sell a house with no closing costs. 

Typical Closing Costs

When you sell a house, the average closing costs are expected to be paid by the seller. These can quickly begin to mount up. It is extremely rare and almost unheard of for buyers to pay these, though in a seller’s market they may offer to foot the bill for some of them to get ahead in a deal. 

Most combined fees total around 6% to 10% of the overall sale. That is a huge amount, which can wipe a sizable number from the final figure. Some typical costs are listed below. 

  • Prorated property tax
  • Loan payoff fees
  • Title insurance
  • Grantor tax
  • Liens 
  • Judgments
  • Attorney fees

Depending upon the circumstances, some buyers may ask the seller to pay their closing costs as well. Once the real estate fee is added to this, which is usually around 6%, the amount paid adds up to a big slice of your profit. 

When Are Closing Costs Due?

When the buyer’s funds become available and are paid, the closing documents get signed. All of the items listed above, and possibly even a few more, will be taken from your profit. You do not need to bring any money to the table, it is simply deducted from what you are owed. 

All of this can change somewhat depending on the type of market and time of year you sell. Being in a buyer’s or seller’s market has a huge impact on the amount you will pay. In addition, the time of year the house is for sale can give leverage to either party. 

Ways to Reduce Closing Costs

In a traditional sale when you are using a buyer who is financing and hiring a real estate agent, it is extremely hard to pay no seller closing costs. However, there are a number of ways you can try to get them down. 

Negotiate a Lower Agent Commission

The typical commission with a real estate agent is around 6%. However, this is not a given. It is perfectly acceptable to negotiate a lower fee with the agent. 

With this do come certain expectations. It is quite likely you may go to the back of the real estate agent’s priority list, especially if they have other more expensive properties on their list. You may have more success with this if you are in a seller’s market when there are fewer houses for sale but more buyers around to purchase them. 

Shop Around for Title Insurance

Title insurance is in place to protect the owners of the new property. Should a dispute arise with the title of the property, such as liens or someone else claiming ownership, then this will pay their court fees. It will even cover them for the loss should they have to relinquish the property. 

Title insurance can cost as much as $4000 for some properties. Therefore, it pays to shop around and get the lowest quote possible. To get the best deals, you need to start way in advance, almost as soon as the property goes on the market. 

Raise the Purchase Price

One way to cover costs is to raise your purchase price. This means you allow a certain amount over its value which will cover the cost. The downside is obvious, in that you may price your house out of the market and deter potential buyers. 

Cash Sale with No Closing Costs

One way many people are avoiding huge closing costs is with a cash sale. This can either be done by finding a solitary cash buyer or contacting a company that advertises a ‘sell my house fast’ policy. In both instances, you will find little to no closing costs involved. 

Cash buyers are often in the market for homes they can fix up, then sell at a higher price later down the line. They buy as-is, meaning the home does not need any repair or renovation. As such, you will save money in this aspect of the sale as well as cutting out closing fees. 

Another benefit is the speed and security in a cash sale. Selling to someone in a mortgage chain can take well over a month. If their financing falls through you are back to square one. 

Of course, cash buyers will offer you a lower amount than the market value. Total up your potential seller closing costs, then add it to the value of any repair and renovation you will need to do before the house goes to market. Deduct it from your asking price and if the cash sale is around the same amount, it may be a better deal. 


For sale by owner (FSBO) is another route you can take to sell the home with minimal closing costs. In this, you act as your own real estate agent. You do your own marketing and listings, prepare the house yourself and organize most of the legalities. 

The problem with this is that while you eliminate the real estate agent commission, you will still have certain costs that need to be paid. In addition, this route is a lot of hard work. You may find the cost for listing the home and advertising almost amounts to the real estate agent fee regardless. 

Choosing a Route

In summary, when selling a house with no closing costs you have two viable routes. The first is go for a traditional method and try to limit the costs as much as possible. The second is to go for a quick sale with cash buyers. 

Your first stop for a cash sale should be We Buy Houses. We can do instant cash offers on properties in any condition. Contact us today to arrange an appointment, and sell your home fast. 

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