How Much Cash For Houses In Chicago Can You Get?
If you’re thinking about selling your house, here’s how much money you can get
Of course, the first question most people have when they here a cash for houses type of message in Chicago is how much they can get for their property. If you are considering selling and wondering what a cash offer for your property would be for your specific property then read below for some additional insight.
An Important Definition
Since this blog post will be read by people all over Chicago (and surrounding areas), with various price prices reflected throughout the area, it’s difficult to write about a specific dollar figure. However, here’s an important concept that will help you understand how much people pay cash for houses in Chicago…
On The Market: When a house sold “on the market”, that means it’s usually listed by a real estate agent and sold after several potential buyers have seen the property and at least one has made an offer. Houses sold on the market will often be sold for approximately the same amount that other similar houses in the area have sold for. This is called “market price”.
Off The Market: When a house is sold “off the market”, that usually means the homeowner has decided to sell their home directly to a buyer instead of list their home. Houses sold off the market will often be sold for slightly less than their market price, this is called “below market price.”
You might be reading this and asking, “why would anyone accept below market price, and less cash for houses in Chicago than others?”
That’s a good question but there’s more to the story:
- Selling on the market usually means you’re selling it to a person who will choose to live in the house. They’re buying the house for themselves and their family. But when you sell off the market, you’re often selling to a company that might be investing in your house to turn it into a rental property or to renovate it and sell it.
- Selling on the market usually means the buyer needs financing. Selling off the market, in a private sale, often means that a professional home-buying company is will to pay cash for houses in Chicago. (That’s why some people prefer to sell off the market – they don’t want to wait for the seller to get financing; they want to know they’ve sold the house right away).
- Selling on the market actually costs money… sometimes a lot of money. If your house needs renovations and repairs, you usually have to spend money to fix up your house before you sell it on the market. However, when you sell it off the market, such as to a company like us at Blue Ladder Development, you may be able to sell your house as-is – saving the money (and the time and hassle).
- Selling on the market through an agent will often result in commissions and fees to the agent for the work they did to sell your house. But selling off the market to a home buying company like Blue Ladder Development usually means no commissions or fees or closing costs.
There are numerous factors that will determine how much you can get for your specific home. Enlisting the services of a listing agent may get you a higher overall price for your house but you’ll want to be sure you are considering the additional selling costs you’ll be required to pay if you decide to sell your house on market through a real estate agent.
Ultimately how much get for your property is determined by how quickly you would like to sell. If you’d like to know an exact offer amount contact us at 630-387-6861 and tell us a little bit about your property. If we seem like the right buyer for you then we’ll set up an appointment to meet you at the property and give you a real cash offer.