Trying to sell a property you know has problems can be super stressful! Particularly, in anticipation of the inevitable home buyer inspection. In addition, selling a run-down property is costly if it sits on the market too long. Not only do your holding costs increase, but the final sales price will likely be less because you may have to drop the price once or twice.
However, take comfort in knowing that homeowners in similar situations have successfully sold their properties with a bit of guidance from experts. So read on as we explore what you can do about a run-down property in Chicago.
Understand Your Buyers
Unfortunately, run-down properties often linger on the market because most home buyers seek properties that are ‘move-in’ ready. A house they can just move right into and not have to do a single thing to—no repairs or upgrades or maintenance. The good news? This doesn’t necessarily mean that you won’t have any interested parties contacting you. By understanding the type of buyers you will likely encounter, homeowners can better prepare to sell a run-down property in Chicago.
One type of buyer you may meet are those seeking a ready home but deciding if they can buy your property at a steal; the time, effort, and expense are worth it. Unfortunately, these offers are typically offensively low and not based on actual market values. For a realistic assessment, direct buyers (like us at Property People 🙂 are fully transparent and up-front with everything so you can make an educated decision about what is best for your circumstances. Whether that means to sell it directly to us, or to list it on the open market.
Curb Appeal
You can highlight the positive aspects of even a run-down property in Chicago with a few small steps. First, tidy up the landscaping and watch your curb appeal go from drab to fab. Simple solutions—such as planting a few flowering plants for some bright spots to a freshly weeded flower bed–are appealing. Next, you can enhance the interior by a deep cleaning of your flooring and carpets, removing worn throw rugs, and decluttering all surfaces. We recommend removing oversized furniture, which makes spaces appear smaller. Finally, add a fresh coat of paint and make minor fixes, such as leaky plumbing. Or, you can save all of this time and money by selling to a direct buyer like us. We buy houses in as-is condition so that you can forget about the curb appeal, cleaning, or making any repairs.
Pricing
Homeowners can hire an appraiser so that they know the current fair market value. Setting the price right can help sell a run-down property in Chicago quickly. If you price your property too high, today’s savvy buyers will likely scroll right past your listing. Don’t sell yourself short either by setting the price too low. Being priced too low means buyers may also feel there is something wrong with the house that they can’t see, and they’ll just move on to avoid getting into a money pit. We can help you determine how much you’ll profit by selling your property on the market vs. the offer from a direct buyer. Remember, we never charge commissions, and there are no hidden fees in our straightforward contract.
Call us about your run-down property in Chicago to make selling quick and easy! You may save thousands by selling directly to Property People. We also guarantee the closing date (and work around your timeline), so you will know when the expenses of holding and maintaining your run-down property will finally end. Call us at 312-857-8572 or email info@propertypeoplellc.com for a free, no obligation cash offer on your property today!