Are you thinking of selling? Hold the phone! Don’t call the real estate agent yet. The traditional real estate market is not a perfect fit for every property or seller, for that matter. The industry standards for listing homes have evolved; staging properties and high-quality digital imagery now highlight every detail. If your home does not look like-new, the MLS may not be a perfect fit. Typically, homes in less than optimum condition linger on this market and garner insultingly low offers, as the majority of buyers here are looking for a property they can immediately occupy, decorate and start enjoying.
Often, it becomes more challenging to handle the day-to-day maintenance, and the repair bills that begin to add up as the property and the owners increase in age. Financial issues can also put a damper on keeping homes in tip-top condition. In many cases, owners are not financially able to wait out the listing, marketing, showing, and negotiating the home’s sale. In contrast, others would prefer to make a slightly higher profit on the property and keep the commissions for themselves, who are not concerned about time.
Read on as we explore three unconventional ways to sell your house in Chicago.
If you happen to find yourself in a position to offer a rent-to-own opportunity, this is the first of our unconventional ways to sell your house in Chicago. Through this sales method, you can make a more significant profit on the sale of your home; however, it will take a few years to realize fully. For the trouble of holding onto the property and providing the opportunity to your buyers, you can sell at an above-market price and charge higher monthly rent. Typically, these contracts include an extra monthly payment towards the down payment in addition to the monthly rent. As a result, buyers enjoy a homeownership experience while you realize higher profits on the sale. On the flip side, if your buyers discover problems with the property, even if you were unaware of them, you’ll have to fix it or disclose it to the subsequent buyers. Additionally, you’ll be setting the price for the home based on a guestimate of the future market. At the same time, you may end up selling for more than would be possible at the time, the market could have a sudden burst, and you could lose thousands in potential profit by locking in the sales price now.
Another unconventional way to sell your house in Chicago is to prep, list, and market the property yourself, saving the commissions for yourself. Regrettably, only about 11 percent of those homeowners who select the sales method are successful. Should you choose this route, you must understand that the primary job of a real estate agent is to market your home. To compete against other listings, you will need the same prep work, high-quality digital photography, and online exposure for the same results. Additionally, these sellers typically value their home using less than conventional means, and when the price is not right, the sale just does not happen. Overpriced homes sit because the tech-savvy buyers of today are fully aware of how much house they can buy for the amount you’re asking. Underpriced homes sit because these buyers are left to wonder what is wrong that is unseen in the listing. Most importantly, it is essential that you fully understand the laws regarding disclosure and the consequences of neglecting this aspect of home sales.
One of the most unfamiliar of these unconventional ways to sell your house in Chicago is the direct sale of a home. For homes that don’t fit the conventional method, or owners in a hurry, a direct sale is a time and money-saving solution. In this method of home sales, waiting for buyers, cleanings, showings, and marketing expenses all go out the window; you can bypass the long, drawn-out listing process and keep all the money you would have spent prepping in your pocket. In addition, you can forget all about the hassles and expenses of repairs when you work with a direct buyer; the home will be selling in as-is condition. As a result, direct buyers take the risk off your shoulders should any problems be discovered after the sale. Added to these benefits is the flexibility of setting the closing date around your schedule; we can close in as little as seven days or hold off until you’re ready. If you’re considering an unconventional way to sell your house in Chicago, why not talk to an expert at Heartland Funding Inc. first. Our direct buyers at Heartland Funding Inc. will detail each process step by step, taking the time to listen to any of your concerns, so you can decide what is best for you. Contact Heartland Funding Inc. today at (800)-255-8250.