Working with an investor to sell a house in Chicago is not usually the most obvious choice. When it comes to selling a house, many homeowners believe that going through a real estate agent is the only credible option. However, this is not always the case, especially when you’re looking for a quick sale or an ‘as-is’ deal. In this article, we’ll debunk the top 5 misconceptions that homeowners have about working with an investor to sell a house. We’ll also explain why selling to a cash buyer could be your best bet.
Misconception 1: Investors Offer Unfair Prices
Many homeowners think that investors are looking for a steal, but that’s not the case. Investors make offers based on the market value of your home minus the repairs needed and the costs they incur while doing those repairs (paying the high taxes, insurance, utilities, etc.). They will not offer you the full market value, but when you consider the money you save on repairs and costly agent fees, the deal often becomes quite attractive. At Olson Home Buyers, you don’t have to take our word for it. Check out our 5-Star Reviews.
Misconception 2: The Process Isn’t Legitimate
Investors are as bound by law as any other buyer. They use standard contracts, and the sale undergoes all the legal checks required in Illinois, including being vetted and approved by an attorney. Accredited investors are often easier to work with, offering a quick, straightforward process.
Misconception 3: I’ll Need to Invest in Repairs Before Selling
When working with an investor to sell a house in Chicago, just remember that investors buy houses “as-is,” which means you won’t need to sink money into expensive repairs before the sale. This feature is particularly helpful for homeowners with older homes that may require a considerable investment to make market-ready. Today’s buyers aren’t looking for a fixer-upper, that’s true; but leave it to the investor to handle the hassle and expense of those repairs.
Misconception 4: It’s Too Quick to Be True
Yes, the process is quick—often as little as seven days. But that speed is a benefit, not a red flag. When you’re going through life changes like a divorce, relocation, or financial hardship, speed can be a huge advantage. When working with an investor to sell a house in Chicago, you can also usually get a flexible closing, so if you need time to move or find your next home-sweet-home, they can accommodate that. Regular buyers will not be so accommodating.
Misconception 5: I’ll Be Scammed
Like any other industry, real estate investment has its fair share of scammers, but that shouldn’t deter you. Do your research, ask for referrals, and consult with a lawyer if you’re concerned. Legitimate investors will have a portfolio, proper credentials, and an established presence in the community.
Why Selling to a Cash Buyer is the Best Option
No Agent Fees
Real estate agents charge a percentage fee that can significantly eat into your profits. When you sell to an investor, this fee is eliminated.
Time is money. The faster you sell, the quicker you can invest in your next home or venture. Cash buyers can close in as little as a week.
From not having to stage your home for potential buyers to avoiding endless negotiations, selling to an investor is hassle-free.
Quick cash can be a lifeline if you’re going through financial hardships. An immediate sale can help you avoid foreclosure or pay off urgent debts.
Selling your house in Chicago doesn’t have to be a lengthy, complicated process filled with uncertainties. Working with a reputable investor can simplify the process and offer significant advantages. Don’t let these common misconceptions deter you from exploring this viable option for a quick and convenient sale.