5 Myths about the Sale of your Condo

For most citizens of our country, residential real estate is the most expensive property, and the sale and purchase of an apartment is the biggest deal in life.

Therefore, when it becomes necessary to find Condos for Sale Chicago, a person has a fear of making mistakes when conducting a transaction. Of course, many of these fears are far-fetched and appear only because of ignorance of all the subtleties of the process of buying and selling real estate. We propose to consider the most common misconceptions of the seller of real estate and dispel the often unfounded fears.

Myth 1. I know how much my apartment costs.

How do you determine the market value of your Homes For Sale Chicago? Surely look in the newspapers, on the Internet and will compare the parameters of your apartment with the parameters of the already exposed apartments for sale.

But is it possible to be sure that these sources indicate the real market price of the object, and not the one that the seller would like to receive and which may differ from the real one by several hundred thousand bucks? Or has your neighbor just sold his apartment "at a very interesting price"? Perhaps this is so, but most likely he slightly "embellished" reality in order to present the situation in a more advantageous light, so to speak, he wanted to brag.

In fact, we advise you to think, and is it so easy to determine the cost of your apartment on your own, without the involvement of specialists? After all, the main specialist here is the market, and only he will be able to determine the actual value of the apartment. It is much better to identify in advance an attractive price for the buyer and start selling from it than, initially without having to bargain with those, to scare off customers with an inflated cost. It’s never too late to raise the price, if you feel the increased demand.

Myth 2. Having made repairs, you can sell an apartment more expensive.

Once it was true. But those times are long gone. Today, as experts say, doing a good repair before selling an apartment is a waste of money and time. If the apartment is in very poor condition, then the situation can be improved only via redecoration. The most important thing is to do general cleaning, throw out unwanted trash, wash curtains, thus creating comfort. You also need to try to put in order the entrance: clean the floors and walls, screw in the light bulbs, and ventilate the room. All this will undoubtedly make a positive impression on potential buyers.

Myth 3. If the buyer comes with a mortgage, the process of the transaction is complicated, and the terms are delayed.

Indeed, an apartment seller who faces a buyer who has received a mortgage loan to pay for housing will have to spend a little more time on paperwork. But the seller does not bear any additional costs.

It is important for the seller to remember: when the buyer says that he has cash, it means that he will have the money after selling his apartment. In such cases, entire chains of transactions are lined up, and there is a possibility that one of the links in this chain may break. The buyer with the mortgage money is ready and waiting for the moment to go into the hands of the seller. In addition, due to the fact that the documents have already been verified by the bank, the registration period in the chamber is reduced from 14 to 5 days.

Sellers should take into account that due to a variety of programs and favorable conditions, mortgages are becoming increasingly popular in our country, and the majority of citizens acquire apartments with the involvement of credit funds. Therefore, fearing a mortgage means waiting for a buyer for a very long time.

Myth 4. If you put an apartment for sale in several Real Estate agencies - the buyer will be faster.

This is one of the most common misconceptions of the seller of real estate. If you want to sell an apartment faster, it will be better to work with one agent by signing a cooperation agreement with him. In this case, you will not need to contact other realtors, since the specialist with whom you work will inform his colleagues about the object and share the commission with them.

Myth 5. Realtor - expensive.

Many experts believe that it is more comfortable and correct when the realtor works, expecting remuneration from the seller and gratitude after meeting the interests of the seller, and not the buyer. After all, the interests of these clients are exactly the opposite. That is why, today, a new type of cooperation between realtors and real estate sellers is rapidly developing, when after selling an apartment the services of a realtor are paid by the seller for the amount received.

This approach will not push customers away, but, on the contrary, increase their number, because, despite the fact that, ultimately, the agency fee is paid from the buyer's money, its costs will remain the same. Psychologically, this is more attractive: the buyer will immediately know that he does not need to pay any commission, because he did not order the service. Therefore, you should trust the professionals.

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