How do I sell my home fast in Chicago?
This is a question that most Chicago homeowners ask. And if you own a home in Chicago, you probably know that selling a house isn’t a smooth ride. There’re plenty of property sellers making the market quite competitive. As a result, your home may bear the ‘For Sale’ sign for months or even years before finding the right buyer. Surprisingly, it’s still possible to sell your home fast in Chicago and still fetch a good amount from it.
So, if you’re in Chicago looking for tips to help you sell quickly, you’re in the right place. In this article, we’ll discuss the top 5 tips to help you sell quickly. Let’s get started!
1. Skip Major Fix-Ups
One of the top tips to help you sell quickly is skipping fix-ups. On average, a home can take about 55-70 days before being sold. How fast a home sells in Chicago depends on its condition, location, and whether it’s sold in a buyer’s or seller’s market. If everything else is favorable except the home’s condition, then taking a lot of time in repairs and renovations can delay its sale.
There’s also the issue of price. You can’t expect top dollar on your home in Chicago if it’s in a dilapidated state. So, if you’ve to sell it real fast, you can forget about the top dollar and skip major repairs (or avoid repairs altogether).
Remember, repairs consume a lot of time, and the longer they take, the longer the sale will delay. Therefore, before putting up your home for sale, you should first decide whether you’ll do the repairs or not; if you can handle quick repairs, the better.
Some of the quick and easy fixes you can take care of include:
- Tightening any leaky faucets
- Repairing any loose door handles
- Fixing the loose tiles
- Patching up areas where the paint got scratched or peeled
- Clean the home thoroughly
Other major repairs and renovations that can take up much of your time and money and which you should consider skipping include:
- Replacing old furniture
- Installing new hardware on bathroom and kitchen cabinets
- Repainting the house
- Replacing broken mailboxes and lights
- Clearing paths and walkways
- Trimming overgrown tree branches, shrubs, and hedges
Although these major renovations may improve your home’s curb appeal and help attract a higher price, they may prolong your sales timeline. So, you should skip them if you’re in a rush to sell your home fast in Chicago.
2. Forget Retail Buyers
If you want to sell your home fast “on the market” by having an agent list it, your prospective buyer will be referred to as “retail buyers.” These are buyers looking for homes to buy and live in, not for resale.
Unfortunately, these buyers are never reliable. Some retail buyers already have homes where they live and are not in a hurry to move. They take their time to choose homes and want to buy at their timelines and conditions, which may not match your timeline. So, if you want to sell your home fast in Chicago, a retail buyer isn’t the best option to go by.
The best option would be selling to a professional home buyer in Chicago. Professional home buyers are cash buyers who buy homes directly from homeowners. These buyers have experience in viewing properties and can inspect homes relatively faster compared to real estate agents. Though they offer low prices, professional buyers make their closing offers within a short time, which help you sell quickly!
3. Collect Enough Data
However much you want to sell your home fast in Chicago, the whole process can never be a one-day affair. To hasten the process, you need to collect as much data about your home as you can.
For example, the buyer may be interested in knowing when the home was built, when the HVAC system was installed, when the last repairs were undertaken, etc. You should put yourself in the buyer’s shoes and think about the information you should be interested in when buying a home in Chicago. Ensure you have all the answers ready, including any authentic proof of the same.
Another information the buyer may need to have is whether the home is under a mortgage. If that’s the case, then you’ll have to transfer the mortgage to the potential buyer. Make sure you avail the mortgage transfer documents early enough to avoid any delays.
Having all the home’s information ready for your potential buyer will help you sell quickly because it reduces the time taken to research and clarify information once the sale process kicks off.
4. Bypass Real Estate Agents
Real estate agents in Chicago are motivated by the profits they make from home sales. For this reason, they may not be in a hurry to enter into a deal with you until they’re sure the home will bring them good returns.
For this reason, they may delay selling your home in Chicago in the hope of getting a better price in the future. They may also demand that you do thorough renovations to increase your home’s value.
Major renovations can’t be possible if you don’t have the luxury of time. This further explains why you need to sell your home fast to direct buyers in Chicago who work within your preferred conditions and timeline.
5. Set a Reasonable Selling Price
Once you’ve taken care of all the issues raised above, what can stand between you and your potential buyer is the price you set. Price is a huge factor determining how fast your home sells. If your price is too high, your home may take long to sell. Additionally, a very low price may discourage potential buyers who may feel like the house has some undisclosed issues.
So, take your time and study the market trends in Chicago to help come up with a competitive price. It’s advisable to set a price that’s slightly lower than the prevailing market price to grab the attention of potential buyers.
If you aren’t sure of the price to set for your home, you can hire a professional to inspect your home in Chicago and help you come up with a reasonable price that can make it sell quickly.
When setting your price, it’s also important to factor in the price points that the buyers in your area, Chicago, use. For example, if you value your home at, let’s say, $202,000, you’ll likely miss out on all the potential buyers looking for houses below $200,000. So, be keen when setting your selling price.
Most homeowners dread selling their homes for fear of the time it will take to close the deal. However, with the above-discussed tips, you can sell your home fast in Chicago and earn good fortune from the sale.
All the best selling your home in Chicago!