Relocation is a complicated exercise in coordination. We get local Chicago home sellers calling us or submitting their house info on this website every week saying “I’m relocating and need to sell my house in Chicago“.
We’re thrilled to be able to assist many homeowners in swiftly selling their properties, as we are actively in the process of acquiring homes in Chicago, IL right now!
Selling a home involves managing a multitude of details, and it can be particularly daunting when you’re faced with the added stress of relocation. Often, this move is prompted by significant life changes such as a new job opportunity or the need to care for an ailing family member. These circumstances demand a quick transition, leading to the question of how to make the most of a challenging situation.
Don’t Agonize – Organize.
You certainly wouldn’t want to find yourself in a scenario where you’re footing the bill for owning and upkeeping an empty house for two long years. This can become a costly burden, and it’s entirely avoidable.
While the current real estate market in Chicago remains relatively stable, it’s essential to remember that market conditions can shift unexpectedly. Over the past couple of decades, we’ve come across some truly harrowing tales. Unless you’re incredibly affluent, the luxury of waiting it out may simply not be within your means.
So how do you make the right choices when you’re relocating and need to sell your Chicago IL house fast?
Relocating And Need To Sell My House Fast In Chicago… Your Options And Steps
First…
- Find out what your house is worth: To achieve this, you have a couple of options: you can reach out to a trustworthy real estate agent, or you can get in touch with us for a complimentary, no-obligation property valuation. Once you have a clear understanding of your property’s potential market value in the current conditions, you’ll have a foundation for deciding how quickly you might want or need to sell your house.
- Decide how fast you need to sell your house after you relocate: This is a crucial consideration. I’ve encountered professionals who relocated for a job and had their homes listed for well over a year, eventually selling for a significantly lower price than they had initially hoped for. It underscores the importance of determining your desired timeline for selling your house and how long you’re prepared to manage the financial responsibilities, including two mortgage payments, insurance premiums, and more.
- Find a solid real estate agent BEFORE you start packing boxes: Initiating the process early is a smart move to avoid unnecessary delays. Every month you wait or every month it takes to sell the house means additional expenses. Alternatively, if you prefer not to go through a real estate agent, we are a well-established local house buyer, and we’re eager to extend a swift and equitable all-cash offer. Just fill out the form through this link to get started >>
- Calculate the value of selling your house fast vs. “waiting it out” for a dream price: We all share the desire to maximize the sale price of our houses. However, it’s essential not to overlook the critical step of calculating the actual cost of holding onto the property. These expenses encompass items like the mortgage, especially if you’re still in the first 10 years where the majority of payments go towards interest, as well as insurance, taxes, maintenance, and more. Let’s consider a scenario: Suppose you aim to sell your house for $200,000. Your monthly mortgage payment is $1,200, taxes amount to $200 per month, insurance costs $100 monthly, and maintenance adds up to $100 per month (covering lawn care, repairs during vacancy, etc.). These “non-equity building” expenses tally up to $1,600 per month. Now, if it takes you 7 months to sell your house through a real estate agent for the full $200,000, it will have cost you $11,200 in direct “holding costs.” Additionally, you’d need to pay $12,000 in real estate agent fees (assuming 3% for both the buyer’s and seller’s agents), bringing the total to $23,200 in lost money. Keep in mind, this calculation doesn’t factor in the value of your time, the stress associated with an extended listing period, or the opportunity cost of what you could have done with the extra money during those 7 months. The actual cost to you could be closer to $30,000. Now, consider the alternative. What if you were to sell your house next week and avoid all those expenses? Even if you were to sell at a discount below the retail price, say $175,000, you’d still come out ahead by selling the house now at a discount to a home buyer like our company, compared to waiting 7 months and paying holding costs and real estate agent fees. Does that clarify the situation?
- Take action!: Regardless of your decision, it’s crucial to make a choice and act upon it. If you opt for the real estate agent route, that’s fantastic! Be sure to locate a reputable local Chicago, IL agent. However, if you prefer to expedite the process without incurring real estate agent commissions, selling your house to us could be a practical and attractive alternative 🙂
If you find yourself with ample time and a truly exceptional property, you might consider testing the market by listing it at a higher price. There’s always a slim chance that someone might fall head over heels and be willing to pay a premium—after all, people have been known to do some extraordinary things for love.
However, it’s worth noting that most properties tend to fall within the realm of average. They share similarities with the houses around them, much like how neighbors often have commonalities. So, unless your property is genuinely exceptional, akin to something you’d find in a glossy magazine, pricing it at the absolute highest point might not yield the maximum return in the market.
Another strategy to consider is marketing your property for both rent and sale simultaneously, just to see which option materializes first. This approach allows you to maintain control of the process, although it can occasionally confound even experienced real estate brokers.
In certain scenarios, we may collaborate with property owners to secure lease-option agreements, where highly qualified buyers rent the property for an agreed-upon period before making the purchase. Alternatively, we might assist in renegotiating a loan, facilitating monthly payments, or orchestrating a short sale with a bank.
Our primary objective is to assist individuals in navigating complex real estate dilemmas. By exploring creative solutions, we can help bridge the gap and guide you toward your desired outcome.
We’re investors. We support our families and beautify neighborhoods by buying houses from Chicago home owners who need to sell fast for one reason or another.
The types of sellers who tend to work with us include people who…
- Need to sell fast (we can close in as little as 7 days if you need us to)
- Don’t want to hassle with listing a property with an agent
- Don’t want to pay real estate agent fees
- Can’t sell their house for one reason or another (we buy houses in as-is condition)
- … or a variety of other reasons
But we’re passionate people, and we believe in the Chicago community.
We’re honest and straightforward.
We’ll quote you a fair price, and we can close fast with cash.
If you’re willing to exercise patience and enlist the assistance of professionals, it is possible to oversee the sale of your property from a remote location. While it comes with some inherent risks, there are situations where this approach can yield favorable results.
At [Your Company Name], we are here to provide solutions to your most challenging inquiries about your Chicago real estate. Please don’t hesitate to reach out to us at 312-818-4472 anytime for a conversation. We’re always ready to assist you.