If you’re planning on moving and need to sell your home quickly, you have a number of options. Sure, you could sell your home traditionally, but that means prepping your house for the market, hiring a realtor, showing your house to potential buyers, entering into negotiations, and waiting for the deal to close. It’s quite a process.
But what if you don’t have that kind of time? What if you need to sell your house as soon as possible?
If you find yourself in this position, you need to sell your home for cash. This is the absolute fastest way to get out from under your house (and mortgage).
Keep reading to find out everything you need to know about how to sell your home fast for cash.
How to Sell Your Home for Cash
First, let’s cover the quick and easy process of selling property for cash. Did you know the process can be completed in as little as seven days?
All you need to do is reach out to a Chicago cash home buyer and request a free cash offer. They’ll respond to you in 24 hours with their price based on your house as-is. This is ideal for homeowners who don’t have the time or money to invest in distressed homes.
Assuming you accept the cash offer, you can get sell your home in as little as a week. The typical loan closing process (when selling a house traditionally) can take six weeks or longer. If you’re facing foreclosure or any other time-sensitive issue, this waiting period might not be an option.
The Benefits of Selling Property for Cash
Now that you know how to sell your home for cash in Chicago, let’s talk about why it’s a good idea. In truth, selling a home for cash isn’t the best option for everyone. People that have plenty of time and money to prepare their house for the market can earn more money on the sale.
So how would a quick house sale for cash benefit you?
Save Money
The average home seller spends over $21,000 preparing their house for sale. Then, they hand out 3-6% of their earnings to their realtor.
However, most home sellers end up paying for their realtor and the buyer’s realtor. For reference, if you sold your house for $225,000, you would be spending anywhere from $6,750 to $27,000 on real estate agent fees.
Additionally, many homeowners choose to have their homes professionally staged. While this does help a home sell faster, it can cost hundreds of dollars a month per room to stage a house.
Finally, there are the home appraisal fees and house inspection fees. These can add up to almost $1,000.
If you decide to sell your home for cash, you can avoid all of these expenses. Rather than paying upwards of $50,000 just to sell your home, why not choose the least expensive and most convenient option?
Save Time
As noted earlier, if your sell your home fast for cash, the entire process can be completed in roughly seven days. But is it really that much faster than the traditional house selling method?
Let’s break it down.
Preparing your house for the market can take several weeks (usually several months). Between inspections, appraisals, renovations, updates, repairs, and cleaning, most people won’t have their property ready to list on the market for a while.
Once your house is on the market, you have to wait for potential buyers to see your listing, schedule tours, and make an offer. When you finally get an offer, you enter into negotiations. Most buyers want a lower price, certain renovations, or for you to pay the closing costs and realtor fees.
Finally, when you come to an agreement with a buyer, you still have to wait for the deal to close. As previously suggested, this usually takes at least 4-6 weeks. During this time, a number of things can interrupt the sale.
Prevent a Foreclosure
Learning how to sell your home for cash can be an answer to a difficult problem.
For example, if you’ve fallen on hard times and can’t keep up with your mortgage, it’s likely to be foreclosed on by the bank. You will start getting warnings after a few consecutive months of missed payments.
In this case, you need to sell immediately. A cash home buyer will buy your home and save you from foreclosure. This will help you avoid a ton of stress while simultaneously protecting your credit score.
Liquidate Your Assets During a Divorce
Another reason to sell your home fast for cash is if you and your spouse are separating. One of the hardest things about a divorce is figuring out how to divide your assets equally. If you own a house together, this problem becomes more complicated.
Instead of fighting over who gets to keep the house and how the other person will be compensated, sell the home immediately to a cash home buyer. Then, you can divide the earnings from the sale equally, thus, simplifying your problem.
Make a Quick Sale to Take Advantage of a Job Opportunity
Lastly, not all issues in life that call for a quick house sale are negative in nature. For example, you might need to sell your home for cash in Chicago if you have a time-sensitive job opportunity out of town.
If you have a new job or a promotion on the table that requires your immediate presence elsewhere, selling your house fast might be the best option. Otherwise, you’ll be paying your old mortgage payments and payments on your next home.
Want to Sell Your Home for Cash?
If you have a home that you need to sell as soon as possible, talk to a cash home buyer. They’ll provide you with a fair cash offer for your home as-is. Then, you can decide how you want to move forward.
And if you’re ready to look into your options, contact us today to get your free cash offer. We would love to buy your house and help you move forward with your life.