There are many reasons that homeowners are selling their property, often drastic life changes, such as divorce or death, may leave many homeowners ready to walk away without looking back. With interest rates low, it is a great time for them to find a new place to call home. Many sellers have inherited a property that they either simply do not have the time or money to rehabilitate and no interest in living in the home. Unfortunately, some sellers can no longer afford the upkeep or even their monthly mortgage any longer and are ready to sell the property quickly. In order to avoid going into foreclosure proceedings ahead of ever-looming deadlines from their lender, a quick sale is called for. No matter your reason, we’ll explore how to sell your house in Chicago without sinking any more money into it.
Sell Your House As-Is
By stating that your home is listed in as-is condition is one way to sell your house in Chicago without sinking any more money into it. Many buyers are actively looking for properties being sold as-is, because they realize in most cases it will be an investment of less cash and more elbow grease, to purchase at a lower price. When it comes to real estate, any experienced agent will advise you that you must disclose all known issues with the property. And while you can make this statement, and present the home with this condition, buyers may still request an inspection. Additionally, you are still at legal risk over issues that may appear after the home has sold, even if you weren’t aware of them.
Mention Renovation Loans
Whether you decide to list the house yourself or you have a real estate agent, mentioning renovation loans in your marketing may be available to buyers is very helpful if you are looking to sell your house in Chicago without sinking any more money into it. These programs do have restrictions regarding the borrower’s credit as well as the viability of the projections the rehabilitation will have on the home’s value when completed as opposed to the amount being requested. Be wary of bright-eyed new buyers who aren’t prepared to see the deal through and often end up backing out, many times because their financing falls through.
Lower Asking Price
Another way to sell your house in Chicago without sinking any more money into it is to ask a slightly lower price than similar properties. Often sellers will add in room for bargaining in counteroffers. When you are calculating your numbers, do not forget to include the costs of sitting in your home at a higher price for a longer period of time. Likewise, consider the possibilities of paying for two households if you are selling due to forced relocation. When it comes to the fast pace of today’s market and savvy online buyers, you are better off to skip playing games with the sales price. By starting off with your real asking price, you are very likely to quickly attract more buyers.
Show That House
While it can be a bit discomforting to have strangers strolling through your home, showings are an inevitable part of the listing process. It can be a bit stressful to constantly keep your home ready for a parade of showings, but the day to day effort and inconveniences are well worth it in the long run. Being extremely flexible about the availability of your home for showings is another sure way to sell your house in Chicago without sinking any more money into it. Often, agents find buyers that are ready to buy right now, hearing there is a 24 hour grace period for the residents to get everything ready or to be somewhere else, can be a turn off for the sale. Your willingness to open your home to potential buyers at a moment’s notice will give you the upper-hand when you are competing with other listings on the market.
You can take the risks of selling as-is, lower your listing price, and hope your property does not sit on the market and deal with the headaches of showings, or better yet, you can sell directly to Chicago Home Buyers! We always pay a fair price, you won’t have to lift a finger, worry about cleaning your house, or be inconvenienced by showings and you can just walk away. Chicago Home Buyers provides you with a guaranteed closing date, usually within 30 days or less. Our experts understand all of the risks involved with buying your home as-is, so there is no need to worry about any surprises down the road about disclosure! What’s the best way to sell your house in Chicago without sinking any more money into it? Sell directly to Chicago Home Buyers. Send us a message or call (312) 300-2043 today to learn more about us and what we can offer you!