When you are selling your home, it’s difficult to know just what financing options mean in terms of time, hurdles you may need to jump through, and a guarantee of the sale reaching fruition. There are a lot of factors involved in understanding what is best for your current situation. Getting a cash offer for your house may prove to be a better solution for your situation.
Cash offers have a great many positives and very few negatives, no matter what your circumstances. Here are 5 reasons you should consider a cash offer for your house in Chicago as the best option.
Having certainty of the offer you have accepted is a major reason you should consider a cash offer for your house in Chicago. Because it’s cash, the weeks, or even months of worry over passing inspections. Another plus is there’s no concern about appraising for the loan to value ratio (LTV), which lenders use to determine the amount they’ll loan on any given property. Just be aware, a valid cash buyer should be able to provide evidence of their ability to fulfill their offer.
Cash deals, most especially with a direct buyer, usually involve purchasing the property as-is, or just exactly as it sits. While it’s possible you will realize a little less for your home when you accept a cash offer, if your home isn’t brand new, avoiding the costs and headaches of renovations, updates and repairs are one of the reasons you should consider a cash offer for your house in Chicago. Not to mention, the risks of discovery after the fact and lawsuits over your transaction. In many cases, you can just remove what you want to keep and leave the rest behind, without a final cleaning. If a cash buyer balks at accepting the house as-is, demanding appraisals and inspections as contingencies, they’ve basically eliminated the attractive qualities of cash offers. As a word of caution, it’s advisable to contact an independent appraiser in order to know just what you may be facing, should you decide to follow the traditional path of listing your home with a real estate agent.
While it’s never a bad time to seek advice from professionals on your endeavors, when undertaking such large financial transactions, there are standards you must meet as the homeowner in your contract with an agent, which are expensive and time consuming that come along with the services of a real estate agent. Among these standards are the nightmare and, more often than not, the ill-timed intrusions of showings. These are just some of the hoops that must be jumped through, along with tons of paperwork, when you list with an agent. Last but not least among the possible troubles that are intrinsic to listing a home in the traditional method is the fact that despite all efforts to complete the deal, the buyer could be denied financing. You should carefully consider the benefits of accepting a cash offer for your house in Chicago and avoiding all of these frustrations.
Your finances are a very important reason that you should consider a cash offer. This is especially true if the last thing you want to do is to pour even more money into your house. Traditionally, listing your home with a real estate agent means updating and improving the interior. Not only this, but you’ll also have to be concerned with curb appeal. Along with this, you may need to make repairs to your home in order to pass inspection. Not to mention, their high commissions and additional fees. Along with these hassles come appraisals, inspections, advertising, and staging your home. If you can’t stay in the home, not only will you bear the costs of maintaining the home while it’s listed, you will have the additional expenses of a second residence.
Time can be a motivating factor, and speed is yet another reason you should consider a cash offer for your house in Chicago. you have come to the decision to sell, whether you need to move due to a sudden life change, relocation due to employment or just ready to move up or down in living space. Cash offers generally close very quickly and offer an advantage of circumventing the unknown waiting period with traditional listings. When listing your home on the real estate market, after a waiting period of an unknown length, you’ll face the stress and tensions involved in the back and forth, extremely time-sensitive nature of offers and counteroffers in the negotiations over the purchase price.
If you are ready to save time, avoid repairs, skip the cleaning, forget about showings, paying high commissions and fees, Chicago Home Buyers is here to help. These are just a few of the reasons you should consider accepting a cash offer for your house in Chicago from Chicago Home Buyers. To learn more about how we can help you with your property, send us a message or give us a call at (312) 300-2043 today!