If you live in the Chicago metropolitan area, you may have heard: the Chicago real estate market is on fire! Sales have increased by 25% since 2020, in large part because of an influx of interested investors.
When you find an investor who wants to buy your house, you may be looking at accepting a cash offer. Should you take it?
There are a lot of reasons why selling your home to a cash house buyer can be beneficial to you. Don’t just take our word for it!
Read on for 10 benefits you’ll enjoy when you accept a cash offer on your Chicago house.
1. Skip the Appraisal
In a traditional sale, your buyer will typically need the help of a mortgage lender in order to purchase your home. In order to protect themselves from risk, lenders require property appraisals before they’ll agree to provide the funds. That means that even if you already know what your property is worth, your sale is up in the air until a third party agrees with your price.
When you accept a cash offer, you don’t have to go through that process. We evaluate the market value of your home before we make an offer–and we take as little as 24 hours to do it.
2. Skip the Upgrades
The current state of the Chicago real estate market can seem really exciting for sellers. Tons of properties are going for well over market value and some property owners are making a killing. The only problem?
In order to make the most of the market, those property owners are investing tons of money to upgrade their properties before listing them. If this isn’t an option for you (or you simply don’t want to invest that time and money), accepting a cash offer is the way to go. We take houses as-is, no question.
3. Skip the Marketing and Constant Showings
Houses on the traditional market don’t sell themselves! You’re expected to put together a professional listing, invest in marketing, and make your property available for showings. Even if you work with an agent, the showings can be intrusive and disruptive.
When you work with a cash house buyer, you can avoid the headache of marketing your property and showing it to dozens of potential buyers.
4. Skip the Inspection
Did you know that appraisals aren’t the only thing you have to deal with when selling on the traditional market? Both the seller and the buyer are typically expected to hire a home inspector before a sale is complete. This can be particularly devastating to people who are selling as-is homes that need a lot of work, as the inspector may reveal some costly problems.
Like we mentioned earlier, we take homes as-is, no question. We don’t need an inspector to tell us what needs work. We’re happy to take on whatever work comes with your house.
5. Avoid Costly Negotiations
You may have realized that between the appraisal and the inspection, traditional sales tend to lead to negotiations. If you don’t love haggling over money (particularly when it’s your own money in the lurch), we can’t say we blame you. Selling houses for cash means skipping negotiations and either accepting or denying the offer on the table, simple as that.
6. Don’t Worry About a Failed Sale
There reaches a point during a traditional house sale where you’re putting your trust in someone whose money you don’t yet have. You take your house off the market even though the sale isn’t closed. In the end, your buyer can walk away having wasted weeks of your time.
One thing we won’t do is walk away from a sale. When we make an offer, we mean it. If you accept that offer, the cash is yours.
7. Close Quickly
It could be weeks or even months before you see any money from a traditional home sale. Closing can become disrupted by just about everything we’ve mentioned so far, from the inspection to negotiations.
Accepting cash offers for houses means that you can walk away with cash in as little as 7 days! That’s right, from the time you contact us to the time we close can take as little as one week.
8. Save on Fees
Working with a real estate agent tends to save you the headache but it does cost money. In fact, many real estate agents expect a commission of up to 7% of your final sale price.
Plus, agent or no agent, traditional sales come with closing costs. In Chicago, you can expect your closing costs to amount to at least 2% of your final sale price.
Because we take care of everything for you, we handle closing costs and other related fees on our own.
9. Sell a Problem House Without the Stress
Do you have tenants you can’t seem to get rid of? Is your house facing foreclosure? Did you inherit a property you don’t want to keep?
We’re ready to deal with any sort of problem that comes with your house. That means that you don’t have to navigate those legal processes or potential court dates on your own.
10. Walk Away With Cash in Full
Nothing feels better than getting a lump sum of money when you need or want it. At the end of the day, selling houses for cash is beneficial because of, well, the cash! You don’t have to get caught up in someone else’s schedule or mortgage when you accept cash offers for houses.
Accepting a Cash Offer From URB May Be the Way to Go
Do these benefits sound good to you? Are you ready to sell your house quickly and without all the stress? If so, accepting a cash offer may be the right choice for you.
Want to find out more about how we operate and how we can help? Contact us today.