Selling your Chicago area home to a cash buyer means lower overall costs to you and a quick sale. However, you must be cautious about selling your home to the wrong cash buyer.
There are many kinds of cash buyers out there. Some are excellent to work with, like Homes to Harmony, while others may require more due diligence and caution.
To avoid selling your home to the wrong cash buyer and to save you time and frustration, check out these six crucial questions to ask before accepting a quick-sale cash offer.
What Happens When You Sell to the Wrong Cash Buyer
Before diving into these essential questions, we want to express just how important it is to find the right cash buyer to quickly sell your Chicago area home.
When you choose someone who doesn’t meet your needs or see eye-to-eye about your situation, it could cause a long, stressful, drawn-out home selling process.
Working with the wrong cash buyer could mean accepting an offer that’s much lower than it could be. Just because you need to sell your Chicago area home quickly for cash doesn’t mean you should be taken advantage of!
Apart from losing out on extra money and dealing with an unorganized or uncompassionate investor, you’ll also deal with unnecessary stress and frustration (on top of what you’re probably already feeling) if you accept an offer from the wrong cash home buyer.
Questions to Ask Cash Buyers Before Accepting an Offer
Take your time to research any cash buyer who offers to quickly buy your home in the Chicago area. Get them on the phone or sit down with them and ask them these important questions.
1. Do you need to see my home?
The answer you want to hear from a cash buyer is “yes!” There are some companies out there that will purchase properties without seeing them in person. This is a huge red flag for sellers like you!
If your cash buyer is not interested in seeing the property, how could they offer you a fair price? They can’t. All they’ll do is give you a lowball offer and hope you accept.
Make sure your buyer takes their time to come and see the property before they make you an offer.
2. Can you prove you have the funds to purchase my home?
For the quickest cash sale, you’ll want to find a buyer who can prove that they have the money they’re offering you.
Too many home sellers come across a cash buyer who makes an offer and then has to come up with the money they promised you after. If they can’t get this money, then you may have your deal fall through, costing you time and money you can’t afford to lose.
Don’t worry about this question feeling a bit personal. When it comes to a large transaction such as buying a home for cash, you’re almost obligated for your own self-interests to ask about their finances. They should be expecting it too and be happy to prove the funds.
3. Is your timeline flexible to meet my needs?
Every situation is different when quickly selling a home for cash. Some sellers need to sell their homes in a week or less. Other sellers may need more time to get their next steps in order.
If your Chicago home cash buyer is rushing you or forcing you to work on their schedule, it’s time to move on to a different person. This means they’re simply interested in your home and don’t really care about your unique situation. They see you as a deal to be made rather than a person to be helped.
4. Can I see testimonials or reviews from previous sellers?
If you’re selling your home to a company that regularly buys houses for cash, ask for reviews and testimonials from past sellers.
Any company that works ethically and is proud of its service will happily provide you with these testimonials. You’ll want to read both the good and the bad reviews to get a better sense of who you are selling your home to.
5. Will you need a home inspection or appraisal?
One of the significant benefits of selling your home for cash is the exclusion of a home inspection or appraisal. Cash buyers typically will not ask to have them done.
However, if your cash buyer does want one, ask about their contingencies. If an issue appears after the inspection, will they lower their offer or step back from the purchase?
6. Will there be closing costs?
As a seller working with a real estate agent, you can expect closing costs to be anywhere from 5% to 7% of the property’s sale price, including the realtor’s commission.
However, when you go with a Chicago area home cash buyer, you shouldn’t have to pay any closing costs. These costs, such as title search and transfer taxes should be taken on by the buyer.
Talk to the #1 Trusted Cash Home Buyer in the Chicago Area
If you have a home in the Chicago area and need to sell it quickly for cash, then don’t accept any offers before talking to Homes to Harmony.
Not only can we positively answer all of the questions above, but we also genuinely care about our sellers and their situations. Nowhere else will you find a cash home buyer that will sit and listen to your situation and actively find the best solution for you and your property.
Whether you’re going through an enormous life change such as divorce, facing pre-foreclosure, or need to offload an inherited property, we want to help!
Still on the fence about selling your home for cash? Check out why Home Sellers Trust Homes to Harmony for an Easy and Personalized Cash Sale to learn more.