How Cash For Houses Illinois Works
We purchase houses in all conditions in Illinois. Our services include a no-obligation bid on your home. Hence, you are just one step away from selling your home seamlessly. Get our cash offer now!
How Our Process Works
Input your property info in our form or call us at 773-900-7775
Set up a meeting so we can review the details you sent
We’ll send you an all-cash offer
When you accept, we’ll close at a renowned title company and pay you ASAP.
What to expect: It would help to include clear pictures depicting the current condition of your property when sending us the details. Expect a cash offer within 8 minutes or at most 24 hours. We focus on a quick close to ensure you move on with your life. Hence, you can sell your house and get paid within 3-30 days. If you have any questions about our process, contact us.
Selling a property doesn’t get easier
We buy houses across Illinois. Cash For Houses Illinois purchases houses directly in any condition without using the MLS. However, we can send you an instant offer on your property if you contact us now.
Dealing with cash and cutting off several unnecessary processes helps us conclude a sale faster than expected. If you sell to us, you will get the entire offer. That means we don’t take commissions, won’t demand repairs, and you’d pay zero closing costs.
Selling through a real estate agent is a stark contrast to that! We even buy hoarder properties, so what’s stopping you from requesting our all-cash bid?
How Cash For Houses Illinois Buys Houses
Our three stages process eliminates the stress of selling your house the usual way. So, once you contact us, you’ll get a cash offer and a quick close provided you accept the proposal. In our case, it’s not easier said than done. The action is just as seamless as saying it in words!
Got question? Not a problem. To save you the effort of contacting us, we’ve created a list of frequently asked questions! So let’s get to it.
Check out some FAQs
- How does our buying procedure work?
- How do we calculate our cash offers?
- What factors influence our cash offer?
- What do we consider while purchasing a house?
- How long does it take us to buy a house?
We’ve answered these questions below
How our buying method works
We’ve made our process a cakewalk to ensure you don’t experience any stress. Here’s a simplified analysis of our procedure.
- Contact us by completing the short form or dialing 773-900-7775 to have a chat with one of our team members.
- Your details is all we need to draft an accurate cash offer. Our offers are without obligations.
- Love the offer? Great! Confused about anything? You can clarify by sending us your questions or giving us a call.
Getting a fair quotation is effortless.
What are our considerations while purchasing a house?
When we send you an offer, best believe it’s highly competitive. Although we draft our bid fast, we still go through a tested process. Cash For Houses Illinois has a team of shrewd real estate experts who understand the depth of the market. To help us draft the best quote, we need to understand your unique demands:
- How much do you think your home is worth?
- What time frame do you have to sell your house?
- What’s prompting you to sell your property?
- What’s the current condition?
Your answer to these questions would go a long way in molding our offer to make it as accurate as possible. Properties are different. Hence, our offer rides on your property’s location, condition, and style. These factors help us deliver nothing short of a strong quote.
How do we calculate our cash offers?
Every homeowner would be curious about how much they can sell their property. But to answer this burning question, we’ll delve into the formula for calculating cash offers.
Our Tested Formula For Cash Offer
This cash offer recipe has four main parts. We’ll analyze each component for clarity. But first, the formula is:
ARV – MINIMUM PROFIT – TRANSACTION COST – REPAIRS = YOUR CASH OFFER
ARV
This means After Repair Value. It’s the retail value of your home at its absolute maximum. The ARV is the property’s price after all necessary repairs–when it shows well to interested buyers.
Repairs
Repairs are quite subjective. Our estimate for fixes can’t be as accurate as we’d love. For instance, we can discover a plumbing issue while fixing kitchen flooring. But we strive to do our due diligence while inspecting to reduce our risks. Although we can’t always be 100% perfect, we perform better whenever we are confident in our repairs. If we are in doubt, we could make provision for unexpected repairs while drafting our bid.
Transaction Cost
The transaction costs cover a wide range of expenses attached to selling a house. While dealing with a realtor, you may have to pay these costs yourself, but since we don’t charge a dime, we settle these expenses. In addition, the transaction cost includes expenses like loan origination fees. The entire cost often amounts to 15% of the total cost.
Minimum Profits
Real estate is how we make a living. As a result, making a profit is essential. We always aim for a 15% minimum profit on a sale. However, we don’t mind drifting off-budget and landing a 10% profit. But we are careful because one simple mistake can cost us half of our profit. We can’t always predict the repairs a house needs–especially with hoarder properties. But the 15% profit relieves the hassle of not knowing what to expect.
Your Cash Offer
The sum of our minimum profit and the total cost is 30%. Hence, we calculate our final offer with this formula: AR– 30%– Repairs = Your cash offer. That’s how we draft our bid! With such transparency, rest assured that what you see is what you’d get. We’d never bait you with an offer and change it on the brink of closing. Nor will we send you a lowball offer.
Ready to discover how much we’ll charge for your home?
What factors influence our cash offer?
- Condition: What’s your house’s current condition. Does it have HVAC problems? Roofing issues? What are the repairs necessary to get the property to ARV? We’ll examine the foundation, flooring, etc. to discover any damage, etc.
- Situation: What’s your preferred time frame for sale? Are there any tax liens, or is the property probate? For example, houses in rural areas have labor challenges.
- Mortgage: If your mortgage balance is reasonable, we can pay off the mortgage and still give you some cash. But if the mortgage exceeds your house value, we’ll provide other ingenious solutions if you don’t mind.
- Tenants: We don’t have a problem dealing with tiring tenants. But there’s no denying the fact that handling them costs money and time. For example, evicting a terrible tenant could take up to a year!
How long does it take us to buy a house?
Our team works non-stop to ensure the process goes as planned. Then, when we sense an issue cropping up, we resolve it quickly! That’s how we beat deadlines to close in record time!
When you accept our offer, we’ll get to work immediately. We’ll get you to sign the necessary documents and submit all required documents to the title company. At this stage, we’ll stay attentive and try to resolve any problem to avoid setbacks.
The title company examines the title’s validity. If we notice any issues, we’ll solve it before proceeding with the transaction. But, of course, we’ll also work simultaneously on securing our funding and conducting all necessary inspections.
Ultimately, we’ll conclude the transaction and pay you cash. The process could last for about 7-14 days. But if we discover any title concerns, it might take up to 10-28 days.