How Do I Sell My House In Illinois For Cash?
Our Cash Offers Are Based On The After Repair Market Value Of Your House!
How much cash we offer for your house is obviously a big question you'd like answered. Here on this page, we will explain the entire process, how we buy houses in cash, first through a quick overview, then followed by a more detailed actual breakdown of an offer we have recently made a homeowner just like you.
How Can I Quickly Sell My Home
Our home-buying process is simple as you can see below.
1 Fill Out The Form
Once we receive your information, we figure out how much your house would be worth on the current market if it were freshly completely renovated, everything brand new, all fixed up, clean, updated, and beautiful.
2 Schedule Your Appointment
During the appointment, we figure out how much it would cost us to fix it all up. We now know how much money we would sell it for, and how much it cost us to sell it. Basically, (there is a bit more involved) based on these numbers we present you an offer that is fair.
3 Pick A Closing Date
If you like the offer, fantastic, we can close on your schedule. You get the cash; we get the deed, and everyone is happy!
It is that Simple
They were great! - Why? - Because the deal was smooth, fair, and went through with complete "consideration" of my needs as the seller of the property. I have already recommended to other interested property owners in the area to give them a call.
Jim Lanning - Illinois Homeowner
The Offer:
Our offers are based on the After Repaired Value of your house. This way we can make the highest fair offers for your house where we can walk away with our profits, and you with the cash you need.
Here is a breakdown of how the offer is generated.
[Your Offer] = [After Repair Value] - [Cost Of Repairs] - [Our Selling Costs] - [Our Minimum Profit]
This Is How We Calculate Our Cash Offers:
1
We Determine The After Repairs-Market Value Of Your House.
After-Repairs Value (ARV): simply means what your house would be worth if it were completely renovated based on current market standards, just like your favorite HGTV show. Your offer is based on this value.
2
We Calculate The Cost of Repairs
The Cost of Repairs: is how much it would cost the US to renovate the house and make it look spectacular, ready for the market. We strive to increase the value of the house so we can get as much as possible for it. This means a higher offer for you and an acceptable profit for us.
3
We Determine Our Selling Costs
The Selling Cost: includes all the costs associated with selling a property. Although we buy houses from homeowners without involving agents, we, on the other hand, to give you a higher offer, do need to be able to sell the house for top value after we fix it up (this was the whole point of fixing up the property). That means we list it with an agent, which means we have closing costs, agent commissions, and taxes to pay.
4
We Take Out Our Profits
Our Profits are reasonable. This is a business and without profit we wouldn't be able to buy houses, pay our contractors, and plumbers, etc. Rest assured our profits are fair, and this business prioritizes the highest possible offers (otherwise no one would accept our offers and we'd be out of business!)
Simply put, it all boils down to this simple concept:
Your offer will be the market value of your house completely fixed up, minus all the costs associated with us bringing the house to its completely fixed-up condition, minus our profits (of course).
Real Life Example: How We Helped a Homeowner Sell Fast
Meet Ronnie, a homeowner in Dolton who needed to sell his house quickly due to a trouble tenant and deferred maintenance. He was worried about the being uncooperative and cost of repairs and didn’t want the hassle of listing his home on the market. That’s when he reached out to us.
- Location: Dolton, IL
- Property Type: 3-bedroom, 1-bath single-family home
- Condition Before Sale: Needed major repairs (kitchen upgrades, bathroom, basement etc.).
- Timeline: House sold within 21 days after the initial consultation, due to tenant availability.
Simple, Fast, Easy.
How We Calculated Ronnie’s Offer
Here’s how we determined a fair cash offer for Ronnie’s home:
Step 1: Determine the After-Repair Value (ARV)
We researched comparable homes in Ronnie’s neighborhood that were fully renovated and recently sold. Based on market data, we estimated the ARV for Ronnie’s home to be $185,000.
Step 2: Calculate the Cost of Repairs
Ronnie’s home required extensive updates to maximize its value. Here’s a breakdown of the major improvements we made:
- Basement Remodel: Finished the previously unfinished basement, adding an extra bedroom and bathroom.
- Kitchen Renovation: Complete remodel to modernize the space.
- Bathroom Renovations: Updated all bathrooms for a fresh, clean look.
- Other Interior Work: Flooring, paint, and fixtures throughout the house.
Total Repair Costs: $65,000
Step 3: Account for Selling Costs
After renovating and listing the property, there are costs involved in selling, including:
- Real estate agent commissions
- Closing costs
- Taxes, Utilities, Misc.. (Everything that can go wrong, usually does go wrong during a rehab haha, so we have to account for surprises).
We estimated these selling costs to be $20,000.
Step 4: Subtract Our Minimum Profit
To keep our business running, we account for a modest profit. For this property, we calculated a fair and competitive profit of $25,000.
The Final Offer:
We calculated Ronnie’s cash offer using the following formula:
[ARV] - [Repair Costs] - [Selling Costs] - [Profit] = Your Offer
For Ronnie’s home:
$185,000 - $65,000 - $20,000 - $25,000 = $75,000
Our Offer to Ronnie: $75,000
Ronnie’s Outcome:
Ronnie owed about $3,000 in back taxes, so he walked away with $72,000 net at closing. He was thrilled with the speed and simplicity of the process and appreciated the transparency in how we arrived at his offer.
A Modern Makeover: Ronnie’s Home Post-Renovation
Just like Ronnie, you can skip the stress of repairs, avoid costly commissions, and walk away with cash in hand. Our process is transparent, fair, and designed to work on your timeline. Fill out the form below.