5 of the Top We Buy Houses for Cash Companies in Rockford, IL
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Kelsey Morrison Former HomeLight EditorClose
Kelsey Morrison Former HomeLight EditorKelsey Morrison worked as an editor for HomeLight's Resource Centers. She has seven years of editorial experience in the real estate and lifestyle spaces. She previously worked as a commerce editor for World of Good Brands (eHow.com and Cuteness.com) and as an associate editor for Livabl.com. Kelsey holds a bachelor’s degree in Journalism from Concordia University in Montreal, Quebec, and lives in a small mountain town in Southern California.
Rockford’s housing market is heating up, but sometimes, getting your home ready to sell can feel like a stressful and costly hurdle. If your home needs significant repairs or you’re facing an urgent situation that necessitates a quick sale, partnering with a “We Buy Houses” company in Rockford, IL, allows you to cash out on your investment and move on.
While selling your house on the open market with a real estate agent can potentially net you more money, accepting a cash offer allows you to close quickly (sometimes within a week) and avoid paying agent commissions or closing costs. The downside is that these companies tend to present offers that are below market value to generate profit.
In this article, we’ll compare the advantages and disadvantages of selling your Rockford, IL home to a “We Buy Houses” company. We’ll also highlight some of the most reputable cash buyers serving Rockford, IL, and share alternative methods for a fast home sale. With this knowledge, you can confidently choose the best approach for your situation.
Sell Your House Fast in Rockford 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 Rockford area “We Buy Houses” companies should not be considered an endorsement.
Working with “We Buy Houses” companies in Rockford, IL
For those in need of a quick sale, the speed and convenience of a “We Buy Houses” company can’t be beaten. Here’s how the process generally works:
- Find a buyer: Start by researching and reaching out to reputable “We Buy Houses” companies that operate in Rockford, IL. Online reviews and local real estate forums can be good places to start.
- Submit your details: Provide the company with details about your property. This usually involves filling out an online form or making a phone call.
- Receive an offer: Based on the information you provide, the company will make an initial assessment and present you with a cash offer, often within 24 to 48 hours.
- Home assessment: If you’re interested in proceeding, the company will schedule a visit to your property to assess its condition and confirm the details you’ve provided.
- Close the deal: Should everything check out, you’ll be presented with a contract. The closing can occur at a time that suits you, sometimes as quickly as a week.
- Get paid: Upon closing, you’ll receive the agreed-upon cash amount, usually via bank transfer. You’ll be able to move forward with your plans without the wait associated with traditional home sales.
Popular “We Buy Houses” companies in Rockford, IL
If selling to a Rockford house-buying company sounds appealing, the next step is finding a reputable one you can trust.
We’ve compiled a list of some of the top companies that will pay cash for your parents’ Cape Cod-style house or brick-clad ranch. By selling to one of these companies, you should be able to sell your Rockford, IL, home in as little as a week or two.
Express Property Solutions
Express Property Solutions is led by a husband and wife team who have been buying real estate in the Chicago area for 15 years. They buy houses in as-is condition in nine Illinois counties, including Winnebago, where Rockford is located. You can secure a no-obligation cash offer within 48 hours of contacting the company. Closing can take place in as little as 14 days or up to 60 days, depending on your needs.
Locations: Winnebago, Cook, Dupage, Lake, Will, Kendall, McHenry, Kane, and Kankakee counties
Closing costs: Sellers pay no closing costs.
Express Property Solutions has been accredited by the Better Business Bureau (BBB) since 2022 and holds an A+ rating. It also averages 4.6 stars on Google. Employees of the company have earned high praise for their excellent communication, compassion, and professionalism throughout the selling process. “
Website: expresspropertysolutions.com
Phone: 312-764-0989
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Rockford, IL (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 US. 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 Rockford, IL.
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 Rockford, IL
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
Evolving Home Solutions
Based in Chicago, Evolving Home Solutions pays cash for homes in any condition, as well as those facing unique situations. After filling out their online form or giving them a call, the company will present you with a competitive cash offer within 24 hours. Sellers can choose the closing date, which can occur in as few as seven days. There are no fees or commissions, and Evolving Home Solutions often pays for the seller’s closing costs, too.
Locations: Illinois (including Rockford), California, and Tennessee
Closing costs: Sellers often pay no closing costs; Evolving Home Solutions covers them.
Evolving Home Solutions has been BBB-accredited since 2022 and touts an A+ rating. Based on a limited number of reviews, they also have a 4.5-star rating on Google. Previous sellers have mentioned that employees are always willing to answer questions and are professional and honest. “Partnered up with Evolving Home Solutions on a property in Chicago,” reads a recent review. “Couldn’t have gone any better! From the communication to the closing table, everything went smoothly and quickly.”
Website: evolvinghomesolutions.com
Phone: 773-570-4020
Illinois Real Estate Buyers
Illinois Real Estate Buyers is based in Chicago and purchases houses, duplexes, mobile homes, and commercial properties across the state. To get the process started, simply fill out their online form or give them a call — you’ll receive a fair cash offer within a few hours. The company often closes sales within a week and doesn’t charge any fees, commissions, or closing costs.
Locations: Statewide, including Rockford, IL
Closing costs: Illinois Real Estate Buyers covers all closing costs.
Illinois Real Estate Buyers does not appear to be BBB-accredited. However, they have a 4.8-star rating on Google. Reviews mention fair offers, quick closings, and exceptional customer service. “I was a bit nervous about working with one of these “We Buy Houses” companies as I had a bad experience with the last one,” wrote a former client. “I was pleasantly surprised and felt like they gave me a fair cash offer. They closed faster than they originally told me and communicated very well throughout the whole process.”
Website: illinoisrealestatebuyersinc.com
Phone: 773-305-6373
I Buy IL
I Buy IL is a Chicago-based team of investors and real estate professionals. They pay cash for homes in as-is condition across Illinois, including Rockford. They can extend a no-obligation cash offer within 24 hours. There’s no need for repairs, clean-up, or interviewing prospective agents. Deals can close in as little as seven days, or on the seller’s timeline. They even provide moving services, junk removal, and legal assistance for those who need it.
Locations: Statewide, including Rockford
Closing costs: No closing costs for sellers.
I Buy IL has been BBB-accredited since 2022 and boasts an A+ rating. It has also earned 4.2 stars on Google. Customers praise the company’s speedy and stress-free selling process and commend the professionalism and attentiveness of its staff. “Totally transparent, so understanding, so very kind, and not only did they sell our property within that month, but even the buyer that bought our home was just as awesome,” wrote one former seller.
Website: ibuyil.com
Phone: 312-584-2960
Why sell your Rockford, IL house for cash?
Selling your home for cash in Rockford, IL, might seem unconventional, but for many, it’s the best decision under certain circumstances. House-buying companies offer a straightforward solution for those who need to sell quickly without the typical hassles of a traditional home sale.
In Rockford, IL, it typically takes around 62 days to sell a home on the market using an agent. That includes an average of 20 days on the market, plus the typical 42 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 Rockford, IL, and it’s clear why these Cash-For-Homes groups are an attractive option, even though they don’t always pay top dollar for the homes they purchase. Let’s explore some scenarios where turning to a “We Buy Houses” company could be the most fitting solution:
- Job relocation: When you’re moving for a new job and time is of the essence, a quick cash sale can help you relocate without the burden of a lingering property sale.
- Divorce: Dividing assets can be challenging; selling your house for cash offers a simple, speedy resolution during a divorce.
- Inherited property: If you’ve inherited a property that you’re not prepared to manage, a cash sale is a convenient way to handle the estate.
- Downsizing: For those looking to downsize, especially retirees, selling for cash can facilitate a smoother transition to your next home.
- Major repairs needed: When your home requires extensive repairs that you cannot afford or manage, selling for cash is a practical option.
- Avoiding traditional sale hassles: If you dread the thought of open houses, staging, or negotiations, a cash sale eliminates these steps.
- Foundation issues: Homes with serious structural issues, like foundation problems, are often tough sells on the open market.
- Facing foreclosure: Selling a house in foreclosure for cash can provide a way out for homeowners, potentially salvaging their financial situation.
- Problematic tenants: For landlords tired of dealing with difficult tenants or property management, a cash offer provides an escape.
- Selling from afar: Selling a house from another state is complex; cash sales offer speed and simplicity.
If you can relate to any of the situations listed above, working with a “We Buy Houses” company may be the right move. However, it’s important to remember that this is just one selling option to consider.
Pros and cons of house-buying companies in Rockford, IL
“We Buy Houses” companies can be tempting with their speedy offers and hassle-free sales process. But before you dive in, remember: these quick sales often come with a catch, like a lower offer than what you might get on the open market. Here’s a quick breakdown of the pros and cons of this arrangement:
Pros
- Quick sale: Companies typically close within days or weeks, significantly faster than traditional sales, which can take months.
- No repairs needed: Your home can be sold as-is, removing the burden of costly repairs or updates before selling.
- Simplicity: The process is straightforward, with fewer steps and less paperwork than traditional real estate transactions.
- No contingencies: Offers from house-buying companies usually don’t contain financing or home sale contingencies, making the process smoother.
Cons
- Below market value: Offers from cash buyers are typically less than what you might receive on the open market, impacting your return on investment.
- Limited negotiation: The take-it-or-leave-it nature of their offers leaves little room for price negotiation.
- Potential for scams: Not all house-buying companies are reputable, so homeowners need to be cautious to avoid scams.
- Missed market premiums: In a seller’s market, you might miss out on receiving premium offers that come from multiple interested buyers.
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
Choosing to sell your home to a “We Buy Houses” company in Rockford, IL, means you’ll encounter different levels of honesty and service, all based on who’s making you the offer. It’s important to do your homework before you say yes to any cash deal. Scour online reviews, ask for a referral, and research the company’s track record.
Understanding what your home is worth is crucial before you agree to sell. Otherwise, you risk accepting a lowball offer. Spend some time going over the buying agreement before you sign on the dotted line. Being aware of all the terms and conditions can help you avoid unpleasant surprises later on.
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 it to your cash offer. HomeLight can connect you with a top-performing agent in Rockford, IL. 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 Rockford, IL home quickly
iBuyers
iBuyers, or instant buyers, use automated valuation models (AVMs) to offer near-instant home value estimates and fast, all-cash purchases. They target homes in good condition, in areas with uniform housing types. The iBuyer process is mostly conducted online, with closing times ranging from days to a couple of weeks. Offers tend to be closer to market value, however, major players in the industry, like Opendoor and Offerpad, typically charge service fees of 5%–6%.
Listing with an agent
Listing with an agent can lead to a quick sale in a seller-friendly market like Rockford, IL, especially if the agent prioritizes strategic pricing and effective marketing. A top real estate agent can potentially sell your home faster and for a higher price, with top agents selling for up to 10% more. Agents offer a comparative market analysis (CMA) to help price your home effectively, a service that is often free. Working with an agent might also yield cash offers closer to your home’s market value. If you’re interested in taking this route, HomeLight can connect you with leading real estate professionals in your area.
FAQs on Rockford, IL house-buying companies
By and large, most “We Buy Houses” companies in Rockford, IL, 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 solid 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 Rockford, IL “We Buy Houses” 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 Rockford Tudor-style house could sell for $199,000 after repairs, but it’s going to need $30,000 of work to get there.
($199,000 x .70) – $30,000 = $109,300
In this example, a Rockford, IL “We Buy Houses” company might offer you around $109,300 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 Rockford, IL, “We Buy Houses” company, you will likely be coming to grips with a two-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. On the other side, you’ll likely get less money overall for your home.
Because “We Buy Houses” 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 is going to 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 there are any hidden program fees that might impact your bottom line.
- Research and vet the house-buying companies that serve Rockford, IL. Our list above is a good place to start.
- Submit offer requests to a few of the companies you like best.
- Schedule any required on-site property visits.
- Compare offers. Weigh the pros and cons and choose the best option for you.
- 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 Rockford vs. top Rockford 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 Rockford, IL | Sell with a top Realtor in Rockford, IL |
| Selling timeline | 7 to 30 days | 62 days average; 20 to attract an offer, 42 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” company and an agent-assisted sale.
Let’s say your cottage in Rockford is currently worth about $140,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $165,000.
| Sell to a We Buy Houses for Cash company in Rockford | Sell with a top Realtor in Rockford | |
| Estimated sale price | ($165,000 x .70) – $25,000 = $90,500 | $140,000 |
| Market preparations | 0 | $1,400 (1% of sale price) |
| Agent commissions | 0 | $8,120 (5.8% of sale price) |
| Closing costs | 0 | $2,100 (1.5%) |
| Estimated take-home for seller | $90,500 | $128,380 |
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
- Selling your Rockford, IL, home to a cash-for-homes company can significantly speed up the process compared to the traditional market.
- You can sell your house as-is, avoiding the time and expense of making repairs.
- Be aware that offers may be below market value, reflecting the trade-off for convenience and speed.
- Know your home’s worth to avoid accepting lowball offers.
- Thoroughly research house-buying companies to avoid scams and ensure you’re working with reputable buyers.
- Consider all your selling options, including iBuyers and listing with a real estate agent.
- HomeLight’s Simple Sale platform can get you a no-obligation cash offer for your Rockford home, regardless of its condition. It’s a good option if you’re unsure who might be interested in buying your home.
Considering selling to a “We Buy Houses” company in Rockford, IL? Gather multiple offers to compare before making a decision. Selling a house is one of the biggest financial transactions you’ll make in your lifetime, so do your due diligence to ensure you’re getting the best deal possible.
Consulting with a top Rockford agent can provide expert insights on how soon and for how much your property might sell on the open market. HomeLight can connect you with experienced real estate agents who can guide you through every step of the home-selling process, from pricing your home to negotiating offers. And if a fast cash sale is more your style, they can also put you in touch with reputable cash buyers who can make a competitive offer.
Header Image Source: (iriana88w / Deposit Photos)
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