I am the trustee of the trust that owns my parents' house where I grew up. The last of my my parents died in February 2024. The house has many years of deferred maintenance, and had loads of stuff and junk. I have been working through the contents, and was hoping to mostly finish that by mid-July. Then I was going to start getting bids and quotes to help make a decision whether it was better to sell it to a wholesaler as-is, or undertake some rehab and try to sell it at retail. It is bungalow, approximately 1,100 sf + basement.
I got a mostly unsolicited offer (long story) from a company called New Western. It basically is a net number, (no commissions) and my sister and I are inclined to accept it. Taking into account our time (I work full time in Chicago; she is out of state), we think that we are better off unloading the house as-is based on the offer received versus attempting a rehab. She is a broker and feels comfortable with what they offered; I am a lawyer and will work through the contract (which I have not read yet - it just came in a couple of hours ago). However, I am thinking that I should try to get a couple of other wholesale quotes just to make sure that the offer received is in line. Does anyone have any experience such that you could recommend a house wholesaler or as-is buyer/rehabber in Chicago from which I could request an offer? Any risks or dangers that I should be concerned about in selling a house at wholesale? Thank you.
I got a mostly unsolicited offer (long story) from a company called New Western. It basically is a net number, (no commissions) and my sister and I are inclined to accept it. Taking into account our time (I work full time in Chicago; she is out of state), we think that we are better off unloading the house as-is based on the offer received versus attempting a rehab. She is a broker and feels comfortable with what they offered; I am a lawyer and will work through the contract (which I have not read yet - it just came in a couple of hours ago). However, I am thinking that I should try to get a couple of other wholesale quotes just to make sure that the offer received is in line. Does anyone have any experience such that you could recommend a house wholesaler or as-is buyer/rehabber in Chicago from which I could request an offer? Any risks or dangers that I should be concerned about in selling a house at wholesale? Thank you.
Statistics: Posted by CharlesDickens — Sun Jun 23, 2024 7:28 pm — Replies 10 — Views 500