Selling your house can be a difficult decision. Should you use a licensed real estate agent, try to sell it as “for sale by owner,” or sell directly to a home buyer? Sometimes life circumstances also put pressure on your timeline, and you might really want to sell your home quickly in order to move on. After all, there are a lot of decisions to be made for whatever life transition you may be going through, such as where to move next, or how to settle your family quickly so they can get started with their own activities such as school. Don’t let questions about selling your house delay your plans and hold you back from moving on when you need to the most. Delaying the sale of your house may actually end up costing you money and create a lot of hassle. We buy houses Illinois quickly, in order to help you reach your goals, and we can save you money as well. Below are four ways waiting to sell your house in Illinois will cost you additional money.
Houses Are In Demand Now
There are buyers for your house, especially if it’s in an affordable area. Mortgage rates are still at an all-time low, which means more competition for your house. While there was a market dip due to the coronavirus shutdown, soon there will be many houses flooding the market. Eventually demand may start to wane in the higher prices ranges – buyers in higher price ranges may have taken their money out of the stock market and decided to invest in real estate instead, and once those buyers’ funds are depleted, the higher priced and rental investors’ real estate purchases will slow down again. So if your house is in the higher price ranges, waiting to list can cost you the top offer you seek!
Less Competition
If you list your house now, and it’s in a higher price range, you will have less competition than if you wait. Once other sellers start feeling more comfortable and the market is flooded, prices will start to decrease and many other sellers will feel the pressure to list as well. This compounds the downward trend and more and more sellers will list. You’ll have to make more and more upgrades, repairs, and increase your curb appeal in order to grab a buyer’s attention. All that, and you likely will have to accept a lower offer than you planned on, just to lock up a contract. If your house is in a higher price range, you’ll probably want to get ahead of the other sellers and get listed very soon!
Dropping Home Prices
Let’s say you start to see that downward trend, meaning the average sales price for your comparable properties is less than you were expecting. Once the comps are lower, you’ll likely end up having to accept an offer which comes in lower than market price in order to sell your house. This will cost you the extra gain you could have had if you didn’t wait to get your house listed. When the market is flooded with houses for sale, buyers have more power to choose and negotiate. They can make a lower offer since they can move on to the next seller quickly with another offer. They can also ask for more repair credits after their buyers’ inspection. Buyers have lots of options to get the price reduced or to get credits in cases like this, and desperate sellers will take lower offers in order to get the house sold. This compounds the dip in the housing market.
Holding Costs
No matter your price range, the longer you own a property, the more you pay just for owning it. Just because you want to sell, doesn’t mean those costs stop — in fact the longer it takes you to sell, the more these costs will add up! Property taxes, which are paid in arrears in Illinois, continue to accrue every day. HOA fees also accrue each day. Your utilities must still remain on, even if your house is vacant, in order to keep the property show ready and protect it from disrepair or damages. You must also still maintain lawn care or snow removal, to avoid any fines or accidents on your property. If you’ve inherited a house with many violations, you are also now responsible for correcting the violations and paying any past due fees that might be associated with it. If these costs are just too much to handle, give us a call at (630) 389-8232. We’re here to help you see how selling your house for cash can eliminate these holding costs which are adding up every day! We buy houses Illinois as-is, quickly.
We Buy Houses Illinois – Fast, As-Is, with Cash
If you need to sell your house quickly, you may want to work with an investor like Kendall Partners. We buy houses Illinois and we help people who need to sell their house fast. Many people are not able or willing to wait in order to find just the right agent and just the right buyer in just the right situation to be able to sell their house! Not to mention, do all the costly work needed to prepare a house for listing in the traditional way! Making repairs can be costly, as can making upgrades that have been avoided for decades. What about having to pay an agent commission, whether they were able to get the highest selling price and make back your investment in repairs or not? It’s a lot of hassle and the outcome is not even guaranteed. You deserve to know your options, you deserve to know if selling directly to a cash homebuyer like Kendall Partners will solve your real estate dilemma. Give us a call at (630) 389-8232 today, or submit your information using the form below for a no-obligation cash offer on your house.