If you own a house in the Chicago area that needs a lot of work but want to sell the property you need to be aware of your options. Selling a house that needs work means that you are looking for a different type of buyer than the more common buyers working with a realtor looking for a move in ready property.
There are many people out there who will buy your house for a great price, freeing you from the property and the burden of making repairs. The strategy of selling is a bit different, and with our tips, we can help you sell your Chicago house quickly and for a great price!
How to Sell a House That Needs Work in Chicago
Fix What You Can
Search your local area for a reputable home buying company. A professional and licensed home buying company like Blue Ladder Development actually specialize in dealing with properties that need a lot of work and will purchase the property directly from you 100% as is.
Get Your House in Front of Serious Cash Buyers & Investors
You can do this by networking in investment and real estate groups. Get the word out about your home and help people to see the potential value. Run the numbers yourself and let people see what it will cost to repair vs. the value of the home when it is complete. Being able to communicate the value of your house to potential buyers is very important when selling a fixer-upper.
Play Up What’s Good
Even in poor condition every property has specific appealing features. Focus on highlighting the best attributes of the property so the buyer can envision how great the property can become after completing the repairs needed. Remember a fixer-upper buyer doesn’t mind rolling up their sleeves to do some work but they want to be sure their efforts will result a desirable finished product that they can easily resell or rent.
While you want to play up the good features you also need to be 100% honest about what is wrong with the house. By disclosing everything you know, you can address it head-on as opposed to after the inspection has been done. You don’t want to set yourself up for a lawsuit by concealing a potentially deal-breaking fact about the property. Plus, it’s the right thing to do.
Call For Offers and Wait
One strategy many people use is to call for offers and wait. Let it be known that you are widely advertising the property, and will be taking any and all offers into consideration. Set a specific date as to when an offer will be accepted. This will create a sense of urgency and will potentially pit multiple investors against one another in a battle for your home.
Help People Use Their Imagination
No matter what shape the property is in, you can do some things to set the mood. Is it a nice day? Make sure the windows are open to let the breeze come through. Stage the home to the best of your ability and clean up as much as possible. You can even find free interior design or room planning software to show what the potential of the room with a few renovations. Help your potential buyers see what could be!