Cash Home Buyers Chicago

FAQs

How fast can you close on a house in Chicago?

Our fastest closing was 10 days for a foreclosure situation in Englewood. Most cash sales close in 7-30 days depending on your timeline and any title issues. If you need more time (60-90 days), that works too. You pick the date that works for your situation.

Should I sell my house for cash or list with an agent?

It depends on your situation. Cash sales make sense when you need speed, can't afford repairs, face foreclosure, or have a property agents won't touch. You'll net less than retail but save 6% commissions, avoid repair costs, and close in weeks instead of months. For many Chicago sellers facing difficult situations, cash offers put more money in your pocket when you factor in real costs and time.

What's a fair cash offer for my property?

Cash offers typically range from 65-80% of after-repair value, minus actual repair costs. A "fair" offer depends on your property's condition and your local Chicago market. We show you the complete calculation—after-repair value, minus repairs, minus our holding costs, minus our profit margin—so you understand exactly where the number comes from.

Are cash home buyers worth it?

Cash buyers are worth it when your priority is speed, convenience, or avoiding repairs. They're not worth it if your house is in great condition and you have 6+ months to wait for top dollar. Cash buyers solve problems traditional sales can't—foreclosure, probate delays, severe damage, liens, or difficult tenants.

Which selling method nets the most money?

Traditional sales with a realtor usually net the most if your house is in good condition and you have 6-12 months. Cash buyers pay less but close faster and handle properties realtors won't list. The "most money" includes your net proceeds after commissions, repairs, holding costs, and time value. Sometimes a lower cash offer nets more after all costs.

What are the trade-offs of accepting a cash offer?

As a seller, the main trade-off is receiving less than full market value. You're trading equity for speed and convenience. The upside? No repairs, no commissions, no closing costs, fast closing, and we handle problem situations like liens or code violations. It's about what matters more—maximum price or solving your problem quickly.

How do iBuyers like Opendoor compare to local cash buyers?

Opendoor is a national iBuyer with algorithmic offers and service fees. Local Chicago cash buyers like us offer more flexibility, handle tougher properties Opendoor won't touch, and provide personal service. Realtors might net you more if your house is move-in ready. The "best" option depends on your property's condition, timeline, and situation.

Do all cash home buyers offer the same price?

Every legitimate cash buyer uses similar formulas—after-repair value minus repairs and costs. Price differences come down to their repair estimates and profit margins. Get 2-3 offers and compare. We show our complete math transparently. Be suspicious of offers significantly higher than others—they often fall through or get renegotiated.

How do I choose a reputable cash home buyer?

The best company is local, transparent, has verified reviews, closes through licensed title companies, and doesn't pressure you. Check Google reviews, BBB ratings, and ask for references. Avoid companies charging upfront fees or requiring you to sign immediately. We're Chicago-based, A+ BBB rated, 4.8 stars on Google, and encourage you to get multiple offers.

How much less do cash buyers pay than market value?

Typically 15-35% below after-repair value, depending on needed repairs. A house worth $200,000 fully renovated needing $40,000 in work might get a $130,000-$140,000 cash offer. But compare net proceeds—after subtracting realtor fees ($12,000), repairs ($40,000), and holding costs, a traditional sale might net you $140,000-$150,000 after 6 months.

How can I identify a scam cash home buyer?

Red flags include: requesting upfront fees, pressure to sign immediately, offers that seem too good to be true, no local office or reviews, unwillingness to explain pricing, avoiding attorney involvement, or no licensed title company. Legitimate buyers like us provide written contracts, encourage attorney review, have local presence, and never charge fees.

Can you sell a house for cash if you're behind on mortgage payments?

Yes, but timing matters. The earlier you contact us, the more options we have. We can often negotiate with your lender, pay off the mortgage, and close before the foreclosure auction. We've stopped foreclosures across Chicago from Roseland to Rogers Park when homeowners called early enough. Once the auction date is set, options become limited.

What if my house has liens or back taxes?

We buy properties with liens all the time—property tax liens, contractor liens, HOA liens, IRS liens, judgment liens. We pay them off at closing from the sale proceeds. The liens reduce your offer price, but they don't stop the sale. You don't need to resolve them first. This works in all Chicago neighborhoods and Cook County suburbs.

Can you buy my house with tenants in it?

Absolutely. We buy occupied rental properties regularly. You don't need to evict anyone or wait for leases to end. We take over the property with tenants in place. This is common with tired landlords in Austin, North Lawndale, and other Chicago rental markets. The tenants become our responsibility after closing.

How do cash home buyers make money?

We buy below market value, renovate the property, and either rent it long-term (like our Calumet City property that still rents to the same tenant since 2022) or sell it retail. Our profit comes from adding value through renovations and taking on the risk—not from taking advantage of sellers. If repair costs run over or the market drops, we absorb those losses.

Is it a good time to sell a house in Chicago right now?

Chicago's real estate market varies by neighborhood and property type. South Side and West Side neighborhoods favor cash buyers due to lower retail demand. North Side move-in-ready properties can still command strong traditional sale prices. If you're facing a deadline (foreclosure, relocation, divorce), timing is determined by your situation, not the market.

Should I get multiple cash offers?

Yes. Always get at least 2-3 cash offers and compare them to what you might net from a traditional sale with an agent. We want you to make an informed decision with all the facts, even if that means selling to someone else. Multiple offers show you the market range and help identify lowballs or unrealistic high offers that won't close.

What is the hardest month to sell a house?

In Chicago, November through February are the slowest months for traditional sales due to weather and holidays. However, winter actually favors cash buyers—less retail competition means cash offers become more attractive. If you need to sell in winter, cash buyers are often your best option.

How much commission does a realtor make on a $300,000 house?

On a $300,000 sale, total commission is typically 5-6% or $15,000-$18,000. This gets split between the listing agent and buyer's agent. When you sell to us, you keep that entire amount. No commissions, no fees, no surprises.

What brings the most value to a house?

Kitchen and bathroom updates bring the highest return, followed by fresh paint, new flooring, and curb appeal. But if you're facing foreclosure, probate, or need to sell quickly, you won't recoup renovation costs. That's when selling as-is to cash buyers makes more sense than investing in improvements.