There is more than one way to sell your Chicago house! So many people get wrapped up in the idea of listing, that they don’t explore all of the ways a home can be sold. Many people miss out on saving time and/or money by using the only solution they know how. There are many different ways to sell a house.
In this article, we will break down the pros and cons of each do you can make a smart and well-informed decision about how you wish to sell!
Pros of Direct Sale a House:
A direct sale is typically going to be the fastest and most convenient option for selling your house. If you sell your house directly to a local house buying company it is typically a cash transaction that doesn’t require the bank to approve the transaction and has much less red tape. Without having a bank involved the transaction will move much faster than your average closing and you can expect to have the property sold within weeks. A guaranteed and fast closing date will release you from the obligation of paying ongoing expenses for the property (utilities, taxes, insurance, maintenance) and leave you with more money in your pocket.
If you are selling directly to the end buyer then you will save yourself from having to pay any realtor a commission. Better yet, doing a direct sale is typically an “as-is” which means you won’t have to perform any improvements or repairs to sell the property. You also won’t have to worry about cleaning the house out and getting into show ready condition. Some house buying companies such as Blue Ladder Development will even let you leave behind any unwanted furniture or personal items in the house saving you the hassle of having to move everything out.
Cons of Direct Sale a House:
The final sale price on a direct sale is often lower than retail.
Pros of Selling Yourself:
You are in control of everything. You will have all the power and be able to decide your best course of action. Once you sell, you won’t have to deal with paying an agent’s high commission.
Cons of Selling Your House By Yourself:
You are in control of everything. You have to do all the work! You are in charge of advertising, dealing with potential buyers and their agents, reviewing contracts, handling negotiations and dealing with title companies. It can be a huge headache if you aren’t familiar with the process. And because it is your house, you might not be all business, and will instead operate with emotion. You cannot become offended by low offers, or overprice the house when you know it isn’t worth what you are asking.
Pros of Working With an Agent:
A good agent will take care of the sale on your behalf. A GREAT agent will go above and beyond, helping you transition into a new home. An agent should have connections and be able to offer resources to get you settled. Take advantage of the services at their disposals such as photographers and professional stagers. This Iis I why you are paying them such a high commission!
Cons of Working With An Agent:
If you sell with an agent, you will be responsible to pay 100% of the commission owed to them. This is typically about 6% of your final sale price. In addition, you will be paying about 2% of the final sale price, toward closing costs. You will also have to pay up front to get the house ready for listing. This includes a professional cleaning, making repairs and cleaning done on a constant basis. There are also no guarantees on when it will sell. You will not know how much you are getting or when you are closing until the very end!
There are many ways to sell your Chicago house. Before you do anything else, make sure you fully research the options available to you. Don’t settle for one option until you learn what other selling methods will mean for you!