We Buy Houses Bloomington: Top 4 Companies
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Joseph Gordon EditorJoseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
If you’re looking to sell your Bloomington home quickly, you may have seen companies that advertise “We Buy Houses” for cash. These buyers often specialize in purchasing homes as-is, providing fast, hassle-free transactions for sellers who may not have the time or funds to make repairs or upgrades.
Selling your home to a cash buyer could be the right solution if you’re dealing with an unexpected life event or need to sell quickly. Cash sales are typically much faster than traditional deals, allowing you to move forward with your plans sooner rather than later.
In this post, we’ll walk you through the pros and cons of selling your Bloomington house to a cash buyer so you can make the best decision for your situation. We will also break down how the process works.
Sell Your House Fast in Bloomington With a Cash Offer
Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in as little as a week and close in as few as 10 days. No showings, no repairs, no open houses. Available to sellers throughout Bloomington.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Bloomington area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Bloomington
Selling your Bloomington home to a house-buying company can be a quick and convenient option when you need to sell fast. The process is simple and usually consists of just a few steps. Here’s how it typically works:
1. Contact a house-buying company: Contact a reputable company in your area and provide basic details about your home, such as its location, size, and condition.
2. Schedule a home evaluation: A representative will visit your property to assess its condition and determine a fair cash offer.
3. Receive your cash offer: Based on the evaluation and market conditions, the company will present you with an as-is, no-obligation offer.
4. Review the terms: Take the time to read through the offer’s terms, including any timelines or conditions that apply.
5. Accept the offer: If the terms are acceptable, sign the purchase agreement to move forward with the sale.
6. Close the deal: Finalize the sale, receive your cash payment, and complete the necessary paperwork at a scheduled closing date.
Popular We Buy Houses for Cash companies in Bloomington
If the process of selling to a house-buying company in Bloomington sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some of the top companies that will pay cash for your or your parents’ craftsman or ranch-style homes. By selling to one of these companies, you should be able to sell your Bloomington home in as little as a week or two.
Bright Side Homes
Bright Side Homes, located in Bloomington, Indiana, has been in business since 2020. They buy houses nationwide, including in nearby areas. After receiving your info, they typically provide a fair all-cash offer within 24 hours and can close in as little as seven days or on your schedule.
Locations: Indiana and surrounding areas, including Bloomington
Closing costs: Sellers pay no closing costs; Bright Side Homes covers them.
Bright Side Homes, BBB-accredited since 2021 with an A+ rating and 4.77/5 stars from 13 reviews, is recognized for its smooth, remote closing process. A recent BBB review commends their customer-centric approach. The company also holds a 5.0-star rating on Google
Website: selltobrightside.com
Phone number: 812-727-5161
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Bloomington (and across the country) can request a cash offer for their home. Simple Sale connects you to the largest network of cash buyers in the U.S. Partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. This enables Simple Sale to provide cash offers for a wide array of properties, even those that need some or a lot of work, in different locations throughout Bloomington.
With Simple Sale, you can get a no-obligation, all-cash offer in 24 hours and sell your home in as few as 10 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including Bloomington
Closing costs: No prep costs, agent commissions, or fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a HomeLight platform. HomeLight was founded in 2012 and is BBB-accredited with an A+ rating. The company has 4.8 stars on Google based on hundreds of user reviews. Below, you can hear about how Baohan Wu, a seller who used Simple Sale to sell his high-rise apartment, closed within three and a half weeks and what he thought of the process overall.
Learn more: homelight.com/simple
Phone: 844-488-8455
Cream & Crimson Management
Founded in 2008, Cream & Crimson Management is based in Bloomington, Indiana. They are interested in buying properties in and around Bloomington. The process involves submitting your information for review, meeting them at your home, where they will view the property and make a cash offer, and choosing a closing date that fits your schedule, allowing you to sell on your terms.
Locations: Bloomington, Indiana
Closing costs: Sellers pay no closing costs; Cream & Crimson Managemen covers them.
Cream & Crimson Management has a 4.4-star rating on Google based on over 30 reviews.
Website: creamandcrimsonproperties.com
Phone number: 812-822-1033
We Buy Houses, Bloomington
WeBuyHouses.com was founded in 1997 and buys houses in 200 markets and 30 states in any condition. According to their website, they have been trusted by 1 million homeowners and can present a cash offer even if the homeowner is behind on their mortgage or facing foreclosure.
Locations: Nationwide, including Bloomington.
Closing costs: Sellers pay no closing costs; WeBuyHouses.com covers them.
WeBuyHouses.com has been BBB accredited since August 2020 and has an A+ rating. Customer reviews speak to its professionalism and an easy sales process.
Website: webuyhouses.com/In/Bloomington
Phone number: 877-932-8946
Why sell your Bloomington house for cash?
Why would a Bloomington home owner choose to sell their home for cash to a Cash-For-Homes company? Speed, certainty, and remarkable convenience are the primary reasons sellers often go this route.
In Bloomington, it typically takes around 68 days to sell a home on the market using an agent. That includes an average of 25 days on the market plus the typical 43 days a buyer needs to close on a purchase loan.
Compare that to the typical seven to 10 days promised by many house-buying companies in Bloomington, and it’s clear why these Cash-For-Homes groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
Selling your Bloomington house for cash may be the right solution if you’re dealing with an urgent or unique situation where a fast, simple sale is a priority. Instead of navigating the complexities of a traditional home sale, cash offers from house-buying companies allow you to bypass repairs, showings, and the usual waiting period. Here are some common scenarios where choosing this route could make sense:
- Job relocation: You need to sell quickly due to a new job relocation and don’t have time for the traditional listing process.
- Divorce: Divorce often requires a quick division of assets, and selling your home fast will help you move forward.
- Inherited: You’ve inherited a property that you’d rather sell for cash than maintain or repair.
- Downsizing: You’re downsizing into a smaller home or retirement community and want to sell your current house without delay.
- Repairs: Your home needs significant repairs, but you lack the time, funds, or desire to fix them before selling.
- Open houses: You’d prefer to avoid open houses, showings, and the stress of keeping your home “buyer-ready” for weeks.
- Foundation: Your house has foundation issues, and the cost or time involved in repairing them isn’t something you can manage.
- Foreclosure: You’re facing foreclosure and want to sell quickly to resolve your financial situation before it worsens.
- Tenants: You no longer wish to manage your rental property or deal with problematic tenants.
- Selling from out of state: You’re managing a sale from out of state and need a hassle-free option that doesn’t require frequent visits.
Pros and cons of house-buying companies in Bloomington
Selling your Bloomington home to a house-buying company comes with its own pros and cons. Here’s a look at the primary ones you should consider, to help yo make an informed decision about whether this path fits your needs.
House-buying companies in Bloomington offer speed and convenience. They purchase homes in any condition, allowing you to skip repairs and staging. This quick, hassle-free approach appeals to homeowners looking for a fast exit without preparation. Here are the key benefits:
- Fast closing process: You can close in as little as a week, which is ideal if you need to sell quickly due to financial strain, relocation, or personal circumstances.
- Buy as-is: The company will buy your home as-is, meaning you won’t need to make any repairs or updates, saving time and money.
- No contingencies: Cash offers come with fewer contingencies, meaning there’s less risk of the deal falling through due to financing issues or inspections.
- No showings: You won’t have to prepare for or endure multiple showings or open houses, making the process much more straightforward.
While house-buying companies in Bloomington offer convenience, the biggest downside is that they generally offer below market value. This can mean leaving money on the table compared to selling your home with an experienced real estate agent. Here are other important drawbacks to consider:
- Lower offers: Cash buyers typically offer less than what you might get in a traditional sale because they need to account for repairs and resale profit.
- Fewer negotiations: Most house-buying companies present take-it-or-leave-it offers, giving you little room to negotiate for a better deal.
- Potential for scams: Not all cash buyers are legitimate, and there is always the risk of encountering scams or unethical practices.
- No competition: Without listing your home, you miss the opportunity to generate multiple offers, which could drive up the sale price.
Curious What Your Home Is Worth?
Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.
Vet cash buyers and know your home’s worth
The level of integrity and service you receive from a We Buy Houses for Cash company in Bloomington can vary, depending on the character and reputation of the buyer. Before you commit to a cash offer, here are a few key steps to vet the company and protect yourself:
- Check reviews: Look at online reviews and testimonials from past sellers to gauge the company’s reputation.
- Research the company: Investigate the company’s presence in the market to ensure it has a track record of successful purchases.
- Read the buying agreement: Carefully read through the agreement to make sure all terms are clear and there are no hidden clauses.
- Trust your instincts: If something feels off, don’t hesitate to ask more questions or walk away from the deal.
HomeLight suggests you consult with an experienced local agent to get a better idea of what your home might be worth if sold on the open market. Then, compare your cash offer. HomeLight can connect you with a top-performing agent in your market. You can also use HomeLight’s Home Value Estimator to get an initial ballpark estimate in less than two minutes.
Other options to sell your Bloomington home quickly
iBuyers
iBuyers, like Opendoor and Offerpad, offer all-cash deals for homes in good condition using automated valuation models (AVMs). This online-focused process is quick—usually from a few days to two weeks—but comes with service fees of 5%-6% per the iBuyer process. They’re best for homes in areas with uniform housing.
Listing with an agent
While selling with an agent may not seem like the fastest option, listing with a top agent in a seller-friendly market can result in a quick sale, especially with strategic pricing and marketing. You’ll also benefit from a comparative market analysis (CMA), often free, which helps set a competitive price. Plus, an experienced agent may connect you with buyers offering cash closer to market value. If you decide to work with an agent, HomeLight can connect you with a top-performing one in your area.
FAQs on Bloomington house-buying companies
By and large, most We Buy Houses for Cash companies in Bloomington are legitimate businesses. Their services and transaction fees may differ, but the business model has been around for decades. If you use an established group with a track record, you can be fairly confident that it’s legit.
That said, as with any financial transaction, it’s a good idea to be on the alert for scams. Always research companies before you sign a contract. Check customer reviews, look at their online presence, verify professional licenses, get a referral if possible, and vet the company on the Better Business Bureau website. Watch for anything that just doesn’t seem right.
As described in our pros and cons list above, most Bloomington We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value minus their estimated repair costs.
Here’s an example of what a simplified formula might look like:
(Your home’s ARV x .70) – repair costs
To see how this might work in a real-world scenario, let’s take a look at an example offer equation. Let’s say your Bloomington Craftsman could sell for $312,500 after repairs, but it will need $30,000 of work to get there.
($312,500 x .70) – $30,000 = $188,750
In this example, a Bloomington We Buy Houses company might offer you around $188,750 for your home.
However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more than We Buy Houses companies because iBuyers look for homes in better condition. An iBuyer might pay you 90% or more of market value while charging a fee for their services.
When you accept an offer from a Bloomington We Buy Houses for Cash company, you will likely be coming to grips with a double-edged sword. On the one side, it shouldn’t cost you any additional money because these companies make an offer and handle almost everything once it is accepted. Conversely, you’ll likely get less money overall for your home.
Because We Buy Houses for Cash companies tend to focus on distressed homes, they typically have zero fees. Many will even cover your closing costs. In most cases, this means that the cash offer you receive will be the price you walk away with at the end of the deal. Of course, asking the company if any hidden program fees might impact your bottom line is always a good idea.
1. Research and vet the house-buying companies that serve your Bloomington area. Our list above is a good place to start.
2. Submit offer requests to a few of the companies you like best.
3. Schedule any required on-site property visits.
4. Compare offers. Weigh the pros and cons and choose the best option for you.
5. Close the sale in a week to 30 days and get paid. (Some companies will let you choose a closing date up to 90 days after accepting the offer, which can be helpful when planning a move.)
We Buy Houses for Cash in Bloomington vs. top Bloomington agent
Another helpful exercise is to compare how a We Buy Houses for Cash company might stack up against working with a real estate agent. Let’s take a glance at how different aspects of the sale might look and compare possible proceeds.
| Aspect of the sale | Sell to a We Buy Houses for Cash company in Bloomington | Sell with a top Realtor in Bloomington |
| Selling timeline | 7 to 30 days | 68 days average; 25 to attract an offer, 43 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary repairs, landscape, stage home |
| Showings | None | 10 to 25 showings average |
| Inspections / repairs | None | May need to make additional repairs for the buyer or renegotiate the price |
| Appraisal | None | May need to lower your asking price if the appraisal comes in low |
| Title search | Cash-For-Homes companies often handle title issues | Must clear title before you can sell the home |
| Financing contingency | None | Mortgaged buyers use a financing contingency that could hold up the deal if the buyer’s loan doesn’t clear |
| Agent commission | None | 3%-5.8% average |
| Closing costs | None | 1% to 3% of the home sale price on top of agent commission |
Example net proceeds
Below, we’ve compiled one example of how net proceeds may differ between selling a home to a We Buy Houses for Cash company and an agent-assisted sale.
Let’s say your home in Bloomington is worth about $315,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $340,000.
| Sell to a We Buy Houses for Cash company in Bloomington | Sell with a top Realtor in Bloomington | |
| Estimated sale price | ($340,000 x .70) – $25,000 = $213,000 | $315,000 |
| Market preparations | 0 | $3,150 (1% of sale price) |
| Agent commissions | 0 | $9,450-$18,270 (3%-5.8% of sale price) |
| Closing costs | 0 | $4,725 (1.5%) |
| Estimated take-home for seller | $213,000 | $297,675-$288,855 |
As this example illustrates, it’s usually in your best financial interest to partner with an experienced real estate agent.
However, net proceeds are not the only consideration when selling a home. What’s best in your situation will depend on the condition of your property, what level of repairs are needed, and your selling objectives. It could be that selling on the open market will be challenging in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Fast sale: Cash-for-homes companies offer speed, often allowing you to close in as little as a week.
- As-is condition: These companies buy homes in their current condition, so you can skip costly repairs and updates.
- No showings or open houses: Selling to a cash buyer means you can avoid the hassle of prepping for showings and open houses.
- Lower offers: Cash buyers typically offer less than market value, so you may not get as much money as you would with a traditional sale.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
At HomeLight, we’re happy to lend a guiding hand in navigating your real estate journey. Let us help you make an informed and confident decision, whether you’re looking for a no-obligation cash offer through a trusted platform like Simple Sale or seeking to consult with a top Bloomington agent.
Header Image Source: (njproductions/ Depositphotos)
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