Listing your house in Chicago can take more time and money than you may think. It isn’t always as simple as calling up an agent and getting your house on the MLS. In this post, we will look at several costs home sellers often overlook when listing your house in Chicago, as well as the alternatives available to home sellers.
Are you thinking about listing your house in Chicago? While it is a great option for some homeowners, others find that the costs do not justify the rewards. Here are just a few of the costs you can expect when listing your house in Chicago!
#1. Cleaning Costs
It is one thing to wipe down the counters and run the vacuum, it is quite another to prepare your house for the MLS. Most homeowners opt for a professional deep cleaning when selling a Chicago house. This will ensure all of the nooks and crannies are spotless and that you are presenting your home in its best possible condition. You may also want to have the outside of your house power washed and the carpets professionally cleaned.
#2. Staging Costs
In order to have your property look its best so you can appeal to the most potential buyers, you’ll want to not only clean but stage the home too. You can do this yourself with a quick trip to Target or you can enlist the help of a professional stager. No matter how you do it, you’ll want to make sure that your personal items are stored away. Take down family photos and other items that can subconsciously make your potential buyers feel as if they are intruding when coming to visit your home. While it might seem odd living in a bleak property while your home is listed, it can help you to sell faster and give you an edge when it’s time to pack up and move.
#3. Additional Marketing Services
When you list your house with a Chicago real estate agent, it’s important to understand what is included. Some agents are full service and will market your property in several ways at no cost to you. Other agents offer limited marketing services, leaving the rest up to you. Even if your agent is full-service, you may need to spring for professional photos or professional virtual tours in order to make sure your house gets notices by as many people as possible, especially at times when there are fewer people out and about driving neighborhoods looking for open houses.
#4. Closing Costs
Many home sellers aren’t prepared for all of the costs they will incur at the closing table. In addition to commissions, there are loan payoff fees, attorney fees, and more to factor in. While these costs are deducted from the sale price, all of these expenses will add up fast, chipping away at any potential profits.
#5. Commission and Agent Expenses
Most people understand that that will need to pay a commission if they hire an agent to sell their Chicago house, but they may not realize just how much that commission will be. Let’s say your house sells for $300,000. The average commission on a house at this price is $18,000! Some agents even charge more than 6% which can really affect how much you are walking away with.
#6. Holding Costs
When you list your house with a Chicago real estate agent, there is no guarantee when the property will sell or how much you will be offered. Your house could sit on the MLS for months. Meanwhile, you are the one stuck paying for all of the bills. Think about what your house real costs you each month. Between the mortgage, utility bills, property taxes, maintenance, repair costs, and homeowners insurance, you could find that you are spending thousands each and every month… all for a home you do not want. By selling your house quickly and directly, you have the potential to keep thousands of dollars in your pocket.
#7. Negotiated Repairs
In many situations, your buyers will request repairs to be made to the property after the inspections have been completed. While on one hand, most homeowners don’t want to spend more money on the sale than they have to, on the other, it may be the only way to get the house sold at all. Some sellers will go so far as to have an inspection done before listing so they know for certain what they are getting into.
What You Can Do Instead…
Selling your house directly to Chicago Home Buyers will help you avoid all of the aforementioned costs and expenses. You won’t have to worry about cleaning, making repairs, property infections, or waiting around through the inspection process or to find a buyer. Selling your house directly to Chicago Home Buyers will help you to get a fair and straightforward offer for your house in Chicago, always closing on your terms.