Trying to sell your multifamily on the cheap? We hear you! You shouldn’t have to pay an arm and a leg to sell your multifamily property. In this article we answer the question “what is the cheapest way to sell a multifamily”. It might not be the best option for you, but it is the cheapest. Read on to find out why.
If you are more concerned with speed of sale then make sure you read our other article in this series, How to Sell My Multifamily fast.
The answer: what is the cheapest way to sell a multifamily?
Please note that this sales strategy may not be the best option for you. But, when it boils down to the economics of the sale it is certainly the cheapest method to sell a multifamily.
We’ll cut to the chase. The cheapest way to sell your multifamily is to sell it to a cash buyer (cash buying investment company).
The reasons why selling to a cash house buying company is the cheapest way to sell a multifamily are as follows:
- Most cash buying companies don’t use realtors so you don’t have to pay any agent commissions or fees. The only reason you would have to is if you are listing with a seller’s agent. In this case, the commissions/fees would be cut in half.
- The majority of cash buying companies pay closing costs, which will save you thousands.
- There are also no repairs as they buy your multifamily as-is. Don’t underestimate the value of this. The potential cost of repairs for a multifamily property could be quite large.
Our company, for example, buys multifamily without charging any fees or commissions. We also buy as-is so there are no repairs, and we pay for your closing costs.