5 Top We Buy Houses for Cash Companies in Joliet
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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.
“We Buy Houses” companies offer a unique solution for homeowners in Joliet looking to sell their properties quickly, often targeting homes requiring repairs or updates.
These all-cash offers can be a boon for sellers who might not have the time, resources, or desire to engage in the traditional home-selling process.
This post explores the pros and cons of working with house-buying companies in Joliet. We will equip you with the tools, along with several options, to make the best decision for selling your home quickly.
Sell Your Joliet House Fast With a Cash Offer
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Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Joliet area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Joliet
Selling your home in Joliet to a house-buying company can be much faster than the traditional selling process. Here’s what you can expect when you choose this route:
1. Find a reputable company: Start by researching and identifying trustworthy “We Buy Houses” companies that operate in Joliet. Look for those with positive reviews and a strong presence in the local market.
2. Submit your property details: Reach out to the company via their website or phone number to provide details about your home. This typically includes your address, the condition of your property, and any other pertinent information they may require.
3. Receive an initial offer: Based on the information you provide, the company will likely make an initial, no-obligation cash offer. This offer is usually made within a day or two after your submission.
4. Home assessment: If you’re interested in proceeding, the company will arrange to visit your property to conduct an assessment. This step verifies the condition of your home and any features that might affect the offer.
5. Get a final cash offer: After the assessment, the company will present a final cash offer for your home. Remember, there’s typically little to no room for negotiation on this offer.
6. Close the sale: Should you accept the offer, the company will work with you to set a closing date. Since these companies usually cover all closing costs and require no repairs before the sale, the process can be completed quickly, often within a week.
Popular We Buy Houses for Cash companies in Joliet
If the process of selling to a house-buying company in Joliet 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 parents’ bungalow or Colonial Revival home. By selling to one of these companies, you should be able to sell your Joliet home in as little as a week or two.
Windy City Solutions
Windy City Solutions has been in business in the greater Chicago for several years. They promise a three-step process where they handle all paperwork, inspections, and closing proceedings. When an offer is made, they can move fast –– sometimes they can even cut a check on the same day the offer is accepted.
Locations: Throughout Illinois, including Joliet.
Closing costs: Sellers pay no closing costs.
Windy City Solutions enjoys a 5.0-star rating on Google, with customers praising their patience and professionalism. They also have an A+ rating on BBB, though they are not officially accredited.
Website: windycitysolutions.com
Phone: 708-832-6654
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Joliet (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 in different locations throughout Joliet, even those that need some or a lot of work.
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 [assigned city]
Closing costs: No prep costs, no agent commissions, and no 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
Direct Property Aid, LLC
Direct Property Aid, LLC is a home-buying company in Illinois with a strong track record of successfully purchasing and selling hundreds of homes in Chicago and its surrounding areas. With Direct Property Aid, homeowners can receive an offer within 24 hours and choose their preferred closing date.
Locations: Several states throughout the US, including Joliet in Illinois.
Closing costs: Sellers pay no closing costs.
Whether it’s saving on realtor fees or facilitating a hassle-free sale, Direct Property Aid earns high recommendations from satisfied customers. With a BBB rating of A+ and a Google rating of 4.7, they prove to be a reliable choice in real estate services.
Website: directpropertyaid.com
Phone: 773-840-7581
Express Property Solutions
Express Property Solutions, led by Blake and Wendy McCreight, boasts over a decade of experience buying real estate in the Chicago area. They have assisted over 500 families in the past 15 years. Offering to buy houses in their current condition, they provide a hassle-free solution without needing repairs.
Locations: Several counties throughout Illinois, particularly Cook, Dupage, Lake, Will, Kendall, McHenry, Kane, Winnebago, and Kankakee.
Closing costs: Sellers pay no closing costs.
Express Property Solutions earns praise for their excellent communication, compassion, and professionalism throughout the selling process. Clients commend the entire team for their dedication and transparency. With a BBB rating of A+ and a Google average rating of 4.5, they stand out as a trustworthy choice for selling homes quickly and efficiently.
Website: expresspropertysolutions.com
Phone: 312-764-0989
Evolving Home Solutions
Evolving Home Solutions, headquartered in Chicago, is a family-owned real estate solutions company that provides solutions for homeowners facing challenging situations such as foreclosure, burdensome properties, probate, or other issues.
Locations: Areas throughout California, Tennessee, and Illinois, including Joliet.
Closing costs: Sellers pay no closing costs.
Evolving Home Solutions earns high praise for its professionalism, transparency, and support throughout the home-selling process. The company holds a BBB rating of A+ and a Google average rating of 4.5.
Website: evolvinghomesolutions.com
Phone: 773-570-4020
Why sell your Joliet house for cash?
There are plenty of valid reasons a Joliet home seller may choose to work with a Cash-For-Homes company. Speed, certainty, and remarkable convenience are some of the biggest reasons for going this route.
In Joliet, it typically takes around 101 days to sell a home on the market using an agent. That includes an average of 55 days on the market, plus the typical 46 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 Joliet, 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 Joliet house for cash can be a strategic decision under various circumstances. These companies provide a straightforward solution for homeowners looking for a quick, hassle-free sale. Here are some common scenarios where opting for a cash sale might be particularly beneficial:
- Job relocation: When you’re moving for a new job and need to sell your house quickly without the delays of a traditional sale.
- Divorce: Selling your home fast can simplify the process of dividing assets during a divorce.
- Inherited property: If you’ve inherited a home you don’t wish to keep, a cash sale can expedite the process.
- Downsizing: Ideal for those looking to move to a smaller home or a retirement community without the hassle of repairs and showings.
- Major repairs needed: When your home requires significant repairs that you can’t or don’t want to deal with, especially foundation issues or other significant repairs.
- Avoiding open houses: For sellers who prefer not to have strangers touring their home.
- Facing foreclosure: A quick cash sale can provide a way out for homeowners facing foreclosure.
- Problem tenants: For landlords wanting to sell a property without the hassle of evicting tenants.
- Selling from out of state: If you’re living out of state, selling your property for cash can simplify the process.
Pros and cons of house-buying companies in Joliet
Selling your house to a house-buying company in Joliet can be a double-edged sword. While it offers a quick and easy, it’s not without its drawbacks.
Pros:
- Fast closing: House-buying companies can close on your property quickly, often within a matter of days, which is ideal for sellers needing to move fast.
- No repairs needed: You can sell your house as-is, avoiding the time and expense of making repairs or renovations.
- No real estate commissions: Selling to a cash buyer means you won’t have to pay commission fees to real estate agents, which can save you thousands of dollars.
- Simplicity: The process is straightforward, with fewer contingencies and paperwork than traditional real estate transactions.
Cons:
- Lower offers: You’re likely to receive an offer that’s below market value, which means you could potentially leave money on the table compared to a traditional sale.
- Limited negotiation: The offer from a house-buying company is typically non-negotiable, giving you less flexibility to reach a higher sale price.
- Risk of scams: There’s a higher risk of encountering scams with less reputable companies, making it crucial to do thorough research and due diligence.
- Not ideal for all sellers: If maximizing your sale price is a priority, selling to a house-buying company may not be the best route for you.
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
When you decide to work with a “We Buy Houses for Cash” company in Joliet, the integrity and quality of service you receive can greatly vary. Much depends on the character and professionalism of the person or group making you an offer.
Before you commit to a cash offer, take the time to vet the company thoroughly. Check online reviews, read through testimonials, and research its market presence and track record in Joliet. Additionally, be diligent in reading the buying agreement carefully before signing anything.
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 Joliet home quickly
iBuyers: Instant buyers, or iBuyers, use automated valuation models (AVMs) to make quick, all-cash home offers. This process, which is mostly online, can close in just a few days to two weeks. iBuyers like Opendoor and Offerpad charge service fees of about 5%-6% but typically offer closer to market value for homes in good condition. The iBuyer process suits sellers in homogeneous housing markets and those whose homes don’t require significant repairs.
Listing with an agent: While selling through a house-buying company is fast, listing with a real estate agent could also result in a speedy sale, particularly in seller-friendly markets. Agents use a comparative market analysis (CMA), which is often free, to price homes competitively. This method may yield offers closer to the home’s market value, potentially including cash offers. For homeowners considering this option, HomeLight can connect you with top-performing agents, allowing for a comprehensive evaluation of all selling avenues.
FAQs on Joliet house-buying companies
By and large, most We Buy Houses for Cash companies in Joliet 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 Joliet 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 Joliet Colonial Revival home could sell for $250,000 after repairs, but it’s going to need $30,000 of work to get there.
($250,000 x .70) – $30,000 = $145,000
In this example, a Joliet We Buy Houses company might offer you around $145,000 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 Joliet 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 the offer 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, it’s always a good idea to flat-out ask the company if any hidden program fees might impact your bottom line.
1. Research and vet the house-buying companies that serve your Joliet 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 Joliet vs. top Joliet 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 Joliet | Sell with a top Realtor in Joliet |
| Selling timeline | 7 to 30 days | 101 days average; 55 to attract an offer, 46 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 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 | 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 put together 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 Joliet is currently worth about $235,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $290,000.
| Sell to a We Buy Houses for Cash company in Joliet | Sell with a top Realtor in Joliet | |
| Estimated sale price | ($290,000 x .70) – $25,000 = $178,000 | $235,000 |
| Market preparations | 0 | $2,350 (1% of sale price) |
| Agent commissions | 0 | $13,360 (5.8% of sale price) |
| Closing costs | 0 | $3,525 (1.5%) |
| Estimated take-home for seller | $178,000 | $215,765 |
As this example illustrates, financially, it’s usually in your best 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 a challenge in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Speed and convenience: Selling to a house-buying company in Joliet can be much faster than the traditional market route, offering you immediate cash for your home.
- Sell as-is: These companies will buy your house in any condition, saving you the hassle and expense of repairs.
- Below market value: Be prepared to accept an offer that’s potentially below market value for a quick and hassle-free sale.
- Vet carefully: It’s crucial to research and vet any house-buying company to avoid scams and ensure you’re getting a fair deal.
- 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 Joliet agent.
Header Image Source: (paulbr75/ Pixabay)
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