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10 Best Cash Home Buyers in Illinois For Today’s Market

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Downtown Kankakee as seen from above the Kankakee River

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In February 2024, Illinois’ housing market faced a slight decline in home sales by 1.2% year-over-year, with 7,576 homes sold, amidst the lowest inventory levels since 2008. Despite the dip in sales, the median home price increased significantly by 10.6% from the previous year to $265,500.

This trend indicates a growing disparity between supply and demand, contributing to price hikes. The Chicago Metro Area echoed this pattern, with a minimal sales decrease but a notable median price rise to $320,000, up 10.3% year-over-year. Experts express optimism for the market’s future, anticipating a resurgence as consumer confidence grows and legislative efforts aim to address the housing shortage.

Cash home buyers in Illinois can close on a sale within a few weeks, and they don’t require any financing. So, there’s no risk of the sale falling through. But with so many cash home buyers, how do you know which one is right for you?

That’s where we come in. In this guide, we’ll look at the top companies that buy houses in Illinois based on factors such as customer reviews, reputation, and track record. Whether you’re looking to sell your home quickly to avoid foreclosure or simply looking for the most convenient way to sell, one of the cash home buyers on this list can help.

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1. iBuyer.com

Offer in 24-48 hours

No commissions or fees

Close in 7 days

2. Opendoor

Flexible Closing

5% Service Fee

1% Closing Costs

3. Offerpad

Offer in 24 Hours

6% Service Fee

Help You Move Within 50 Miles

4. Heartland Buys Houses

Fair Written, No-Obligation Offer

Buys House As-Is

Cash Offer in 24 Hours

5. Windy City Solutions

No Fees. No Commissions

Fair Cash Offer

Close In As Little As 7 Days

6. ASAP Cash Offer

Zero Fees or Closing Costs

No Repairs

No Showings

7. We Buy Houses Illinois

No-Obligation Cash Offer

No Repairs

Closure In 7-14 Days

8. We Buy Ugly Houses Illinois

Fair Cash Offer

No Commissions

Pays All Closing Costs

9. Express Homebuyers

No Commissions

No Agent Fees

No Closing Costs

10. Finally Sold

Buy Houses As-Is

Pays For Closing Costs

Closure In 10 Days

Final Thoughts on Cash Home Buyers in Illinois

Selling your home to cash home buyers in Illinois can be a less complicated way to sell your property. Do your research to ensure the buyer is reputable and has a good track record, and understand the pros/cons. You should also get multiple offers from different buyers to get the best possible price for your home.

Be honest about the condition of your home for the cash home buyers to identify any repairs needed. Ask about the buyer’s fees and costs to budget accordingly. Some cash home buyers may charge you a real estate commission or other fees.

Sell your house fast and easily with a cash offer from iBuyer. To get yourself started, visit our homepage, enter your home address, and get your instant home value Illinois and cash offer. Get your cash offer today with zero obligation.

The Benefits of Selling Your Home to a Cash Home Buyer

Overall, selling to a cash home buyer is a good option if you need to sell your home quickly. It can also suit you if you don’t have the time or money to make repairs or want to avoid the hassles of the traditional home-selling process. Here are the benefits of this process:

  • Speed: Cash home buyers can close on a sale within a few weeks, which is much faster than the traditional home selling process
  • Convenience: Cash home buyers buy homes “as is,” so you don’t have to make any repairs or renovations before selling
  • Certainty: Cash home buyers don’t need financing, so there’s no risk of the sale falling through due to financing issues
  • Flexibility: Cash home buyers can be more flexible with the closing date and other terms of the sale and require less paperwork than traditional buyers
  • No real estate commissions: Cash home buyers don’t charge real estate commissions, which can save you significant money

Have your home inspected by a qualified inspector to get a realistic estimate of the repair costs. An attorney should also review the purchase agreement before you sign it. Your legal counsel will ensure the sale process adheres to the relevant laws and regulations.

Interested in your home’s current market value? Receive a free online home value estimate!

FAQs About Selling a Home to a Cash Buyer in Illinois

Homeowners in Illinois often have questions about selling a home to a cash buyer. While this list should answer some of your questions, you can contact a cash home buyer directly if you have more. Here are these frequently asked questions:

What Is the Typical Offer Price for a Cash Home Buyer in Illinois?

The typical offer price for a cash home buyer in Illinois is between 50-70% of the home’s after-repair value, minus repair costs. So, if your home needs $30,000 in repairs and could sell for $350,000 after repairs, you may get around $215,000.

How Long Does it Take to Sell a Home to a Cash Home Buyer?

It takes seven to fourteen days to sell a home to a cash home buyer in Illinois. It’s faster than selling a home through a traditional real estate agent. Companies that buy houses in Illinois can close so quickly because they don’t have to wait for you to get financing.

What Are the Fees and Costs Involved in Selling to a Cash Home Buyer?

The fees and costs involved in selling to a cash home buyer vary with the buyer and where you live. However, there are some common fees and costs that you can expect to pay, including title fees, escrow fees, attorney fees, and prepayment penalties. Be sure to ask the buyer about their fees and costs upfront before you accept their offer.

Can I Sell a Home to a Cash Buyer If It Needs Repairs or Renovations?

You can sell a property to a cash buyer if it needs repairs or renovations. Many cash buyers specifically target homes that need work, as they can purchase them at a lower price, fix them, and sell them for a profit.

Are There Any Tax Implications or Legal Issues to Consider When Selling to a Cash Home Buyer?

There are a few tax implications and legal issues to consider. You may pay capital gains tax on the profit from the sale depending on how long you owned the home and the profit you made. The legal issues include the risk of fraud and title problems. We recommend contacting a legal professional for this.

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