Becoming a homeowner can be one of the biggest steps a person or couple decides to do. There’s a lot that goes into the process: looking inwards to figure out where to buy, determining what’s on your must-have list, finding the financing, and working with the right realtor to make your new home dream a reality. This can be a real headache, but it’s all well worth it once everything is finally moved in.
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But the reality is that over time, your dreams can change, and it may come time to start all over and sell your home in Chicago. It’s easy to recall how difficult it was to find your house, so it’s understandable to pursue a quick exit strategy and sell your house ASAP.
In this case, that’s where a real estate wholesaler comes in. While it may be easy to fall into the “sell my house fast Chicago” mentality, some discretion is advised. But what exactly is real estate wholesaling, and can it help you as much as hurt you?
Real Estate Wholesaling
Real estate wholesaling is the process of a real estate company acting as the middleman between your home and a potential buyer, investor, or house-flipper. They cut out the need to go directly to the buyer; wholesalers set up the contract for you and then find potential buyers to make the purchase.
Once they’ve found a buyer, however, how exactly do wholesalers make a profit? For example, imagine your home is listed for $250,000. What they’ll do is post the contract, but include a selling fee. Let’s say, in this instance, that the fee is $20,000, bringing the total price up to $270,000.
Once a buyer is found and the sale is final, the real estate wholesaler gets you your $250,000, but walks away with the $20,000. While this lowers the total amount that you could have walked away with, that’s potentially $20,000 worth of headache that’s taken off your shoulders. This sales method allows real estate wholesaling firms to sell houses fast in Chicago, and at a much faster rate than if you were to take the process on yourself. While this sounds like a good deal, is it all it’s cracked up to be though?
The Good and Bad of Selling Houses Fast
- Sell your house fast while minimizing the headache
- A large network means more opportunities to find a buyer
- Get it sold where nobody else could, especially in a wider range than you might be able to on your own
- Lose out on maximum possible selling amount
- Run the risk of running into not-so-transparent business practices
- If the contract falls through, you have to start from square one
World Class Real Estate
When it’s time to sell and you’re ready to move forward, find someone who specializes in selling houses fast in Chicago. At World Class Homebuyers, we’ll be the perfect middleman for your home sale. You and your Chicago house are in good hands with us.