The real estate market in Joliet, IL and in surrounding Chicagoland areas continues to change. It’s critical that and home sellers consider out-of-the-box strategies that may help them achieve their goals. As interest rates continue to rise and dramatically affect Buyer’s ability to qualify for loans and how much they can purchase, selling property quickly in the traditional method becomes very difficult. There are several more creative strategies that can help you succeed to sell your house fast.
At JCH Properties, we specialize in helping sellers through the complexities of real estate. As professional home buyers and investors ourselves, we have a unique perspective on the market and can offer a range of services to help you achieve your goals.
Seller Financing
One effective strategy for selling your house fast is to think creatively about financing. For instance, if you know the property needs repairs or updating but you’re looking for more than the true as-is value the market will fetch, JCH Properties can still purchase the house in a creative way that works for both buyer and seller. We make an upfront payment to the seller for the ownership but avoid the higher costs of a full cash offer up front. Keeping that cash on hand for other purchases can be passed through as a higher ultimate price over time. This can be a great option for some who need to be rid of the house quickly but want a higher price than a fast cash offer may deliver. At JCH Properties, we can help you explore what this type of offer could look like and what timing is possible. The greater the seller flexibility on timing, the higher the offer can be over time.
Mortgage payment coverage
This selling option is similar to seller financing, but when you as the seller still have a mortgage in place. Seller financing generally applies if the home is fully owned and you take payments directly from the buyer over time. In the case of an outstanding mortgage, JCH properties can still buy the house quickly and we keep making the lien payments against the acquired property. This can be a very quick strategy if you as the seller need to move out of state for work or you just have to get out of your current living situation for whatever reason. The lien stays open and paid up until we resell the property either after some repairs or to a tenant buyer on the next strategy.
Selling Your House to a Rent-to-Own buyer
JCH Properties specializes in Rent-to-Own programs for tenant buyers who are close to good credit but have a little work to do. By getting those buyers into the property, they take far better care of the house than traditional tenants who have no long-term stake in the condition of the house. If your timeline is long enough, we can pair this ultimate resale strategy with seller financing or a mortgage payment takeover to solve your immediate problem of being rid of the house, and delivering a much higher price than you’ll get from any other home buyer.
Utilizing a Short Sale
Another strategy for sellers is to explore the possibility of a short sale. Unfortunately, short doesn’t mean fast. A short sale applies when the seller owes more on their mortgage than the property is valued at and the bank agrees to take a lower payoff amount. While this can be a viable option for sellers facing financial hardship who need to sell their property, it takes a very long time. Banks don’t like losing money so you can bet there are a lot of hurdles to jump before they’ll agree. Using some of the prior strategies discussed, JCH Properties can help you navigate the sale options when you don’t have 6+ months to haggle with the bank.
Explore Your Selling Options
At JCH Properties we are committed to helping sellers achieve their real estate goals through innovative and creative strategies. Whether you need to sell tomorrow, next month, or next year, we have the experience and expertise to help you succeed and help you understand your options when traditional sale methods just don’t fit. Call today to learn more about how we can help you navigate the complex world of real estate in Joliet, IL and surrounding areas. We buy anywhere in Will County, Kendall County, Grundy County, and Dupage County. We are happy to answer any questions you have. 815-267-6563