Home ownership just isn’t what it was in the 1950’s.
In the past, people would buy a home and live there for the rest of their lives, often passing it on to their family. Things have changed. Many first-time homebuyers are going into it with the attitude that they’ll sell when it’s time for a change. If you’re looking to sell your house, you could be frustrated.
Despite the market trends in Chicago slowly shifting, it’s still very much a buyer’s market. With so much property available, you could find yourself waiting months or longer to get a fair price on your home.
How To Sell Your House To An Investor in Chicago
One option that many homeowners are turning to is selling to a real estate investor like Blue Ladder Development to buy your house from you.
These independent investors typically purchase homes, repair them, and then use them to generate income; either as rental units or sell them for a profit. Chicago has numerous reputable and trusted real estate investors who will help you sell your home quickly.
Selling your house to an investor is relatively simple.
You provide him or her with information about your home and personal situation.
The investor will then inspect the home and determine a fair value, taking into account necessary repairs, and make an offer. If the offer works for you, you’ll close, and receive the payment for your house in cash… usually within 7 days if you want to close that fast.
How Fast Can You Sell Your House To Local Investor?
This process is extremely quick compared to more traditional methods, often taking just 7-10 days.
If you need to sell your Chicago home very quickly, with little hassle, selling to a Chicago real estate investor is a great option.
When you work with a real estate investor… there usually aren’t any fees involved, as you don’t have to worry about paying an agent commission, and most often, the investor will cover the closing costs.
While real estate investors are often looking to purchase homes at a discount, allowing them to fix up the house if it needs repairs… then sell the home to another home owner.
The Hidden Costs Of Waiting To Sell Your Chicago House
In most cases home sellers forget to add up the holding costs they will incur while waiting for their house to sell. Not considering your holding costs when selling your {market_city] is unfortunately a mistake most home sellers realize down the road after it is too late.
Avoid this mistake by taking these costs into consideration when you begin researching the sale of your house. Let’s take a detailed look over the carrying/holding costs you incur as property owner on a monthly basis.
Mortgage – Every month you own the property you of course incur the cost of paying the mortgage which in most cases is mostly an interest payment going to the bank.
Utilities – Every month you own the property you incur the cost of gas, electric, water, garbage and sewer expenses.
Insurance – If your premium is paid annually you are entitled to a refund from the date the policy is cancelled. Every day you own the house your refund is reduced.
Maintenance – You have lawncare in the summer, snow removal in the winter. As well as gutter cleaning, furnace filters, driveway seal, cleaning, garbage disposal, and too many more to list.
Property Taxes – Certainly a hidden cost as you don’t typically pay this expense until you close as property taxes are prorated but be sure to factor this into your net amount.
By selling your home to a real estate investor, you’re saving yourself possible months of headache, and you can quickly move on to your new home. You’ll avoid expensive fees, closing costs, and investors will purchase your home as-is, assuming the costs of repairs that you’d have to pay if you were selling via more traditional means.
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