Over 30% of all homes were bought with cash in Q2 2024. Chicago topped this list with 24.6%. This shows that cash is still king in the Prairie State.
Cash buyers offer a fast, as-is sale, often closing within 7 days. But which cash buyers will get you 100% of your home’s Fair Market Value? See our rankings below to find out and keep thousands in your pocket!
Reviews: 7 Top Cash Home Buyers in Illinois
1. Houzeo.com: Illinois’s #1 Cash Home Buyer Marketplace
Max Exposure to Cash Buyers
Listing Fee: $3994.9/5
Houzeo is the best option if you’re looking for multiple cash offers. Your MLS listing will be exposed to local and national cash buyers, increasing the number of offers you receive.
- Fee: Houzeo does not charge any undisclosed closing fee.
- $399 + $350 at Close: 6-month MLS listing, 24 photos
- $399+0.5% at Close: Maximum photos, premium yard sign
- $429+0.5% at Close: Pricing assistance, contract review, seller disclosures, licensed broker assistance
- $449+1% at Close: Virtual full-service with licensed broker, offer negotiations
- Typical Offer: Up to 100% of your property’s Fair Market Value.
- Eligible Properties: On Houzeo Marketplace, you can sell your house as is.
- Closing Offer Terms: You can specify your preferred closing date and the closing offer terms.
👉 Our Take: For sellers looking to maximize their cash offers, we recommend Houzeo’s Gold plan. You can access Houzeo’s advanced features to negotiate the best terms for your cash offer.
» Houzeo Reviews: Find out why Houzeo is one of America’s best cash buyer marketplaces.
Houzeo is America’s #1 cash buyer marketplace because of 5 reasons:
- Max Exposure: Houzeo’s packages give you access to the MLS and 100s of websites like Zillow, Realtor.com, Redfin, etc.
- 5-Star Customer Service: Houzeo’s customer service desk is available 6 days a week. Chats and emails are open 7 days a week.
- 100% Online: Houzeo is high-tech. For you, this means easy listing, fast changes, online showings, and online offers.
- No Listing Commission: You’ll pay just a small flat fee to list on MLS. You get to bypass the 3% listing agent commission! All fees are disclosed upfront, so there are no Houzeo hidden fees.
- Home Value Estimator: Houzeo’s home value estimator can get you a quick and free estimate of your property’s market value in 30 seconds.
There are no dealbreakers with Houzeo.
» Houzeo Pros and Cons: Read the advantages and disadvantages of choosing Houzeo to sell your home for cash.
Houzeo is rated 4.9 out of 5 stars by thousands of home sellers on Google & Trustpilot.
With Houzeo, your home gets maximum exposure to Illinois’ best cash home-buying companies and individual investors. You could get multiple competitive offers for your home, driving up its final sale price.
2. Offerpad
QUICK CLOSING
Service Fee: 5%2.7/5
Offerpad is an iBuyer that makes cash offers on homes that meet their eligibility criteria. This cash offer is based on their patented evaluation tool’s calculations.
- Typical Offer: It is 70% to 80% of the market value of your property.
- Service Fee: 5% of the home sale price and 1% as closing costs.
- Eligibility: Offerpad offers cash for houses built after 1960, with a maximum lot size of 1 acre, and a max valuation of up to 1M. Homes with foundational issues are not eligible.
- Closing Offer Terms: They make an initial offer within 24 hours of submitting your details. However, the final offer may change after they conduct a home inspection.
👉 Our Take: When you sell to Offerpad, you can close in as early as 2 weeks. So, if you want to sell fast and are open to leaving cash on the table Offerpad is a good option.
- Lightning Fast Closing: With Offerpad’s cash-for-house offer, you can close your property in a fortnight.
- Save on Minor Repair Costs: When you sell your house for cash, you don’t incur upfront costs to fix, prepare or stage your house.
- Extended Checkout: You can extend your stay in your home even after the closing date.
- Broad Coverage: Offerpad buys houses for cash in 27 markets across the country.
- Lowball Cash Offer: Offerpad extends two offers- an initial one and a final one. The difference between the two can be quite high. One home seller was offered $189,000 initially but received a lowball offer of $149,000 post Offerpad’s home inspection.
- High Service Fees: Offerpad charges a steep 5% service fee for their cash offer. This fee covers title insurance, escrow fees, HOA transfer fees, taxes, etc.
- Offerpad Cancelation Fee – 1%: If you’re 4 days from closing and decline Offerpad’s cash offer, they’ll charge 1% of the home sale price as a cancelation fee.
Offerpad has a 2.7 out of 5-star rating on TrustPilot.
» Offerpad Reviews: See what customers have to say about Offerpad.
Offerpad extends cash offers that are up to 80% of your home’s fair market value within 24 to 48 hours. They use advanced algorithms that compare local property prices to calculate offers.
The biggest downside to selling to Offerpad is their strict eligibility criteria. They can withdraw from the sale if your home doesn’t meet their requirements at any point during the transaction.
3. Heartland Buys Houses
POPULAR CASH HOME BUYER
Service Fee: None1/5
Heartland Buys Houses is a company specializing in quick, cash home purchases of houses. They follow a simplified process, all you need to do is fill out their online form, or you can connect with them via phone.
- Service Fee: None
- Typical Offer: 50% to 70% of market value of the property
- Eligible Properties: Distressed properties with structural damage, inherited properties, tenant problems, code violations, etc.
- Closing Offer Terms: Heartland Buys Houses has a 7 to 30-day closing for its cash offer.
👉 Our Take: Heartland Buys Houses claims to extend fair offers, making it a good option if you need cash quickly. However, there are little to no reviews about them across the internet.
- Fast Cash Offers: Heartland Buys Houses will get you an offer in approximately 24 hours.
- Flexible Closing Time: You can close in as little as three weeks or on a date of your choice.
- Sell As-Is: You can sell your house as is. You don’t need to prep the home for a company visit or make any repairs before the sale.
- No Additional Costs: You are not required to pay any extra costs, even your closing costs are covered.
- Not 100% Online: They have a limited tech stack. This means a lot of processes, like requesting a counteroffer or managing inspections, will be offline and manual. Furthermore, they don’t even have a mobile app.
- Lack of Reviews: Heartland Buys Houses does not have enough reviews to give them a positive feedback.
- Limited Coverage: Heartland Buys Houses cover only selected areas of Illinois and Indiana.
Heartland Buys Houses has a rating of 1 out of 5 stars on Better Business Review.
» Heartland Buys Houses Reviews: Read this comprehensive review to learn more about the company.
Heartland Buys Houses is a popular cash company that extends cash offers up to 70% of the market value of the property. They prioritize transparency and customer satisfaction, making the selling process simple. You can get in touch with them via phone or they can even visit your home and give you the offer in person. However, they don’t have any credible reviews, so you’ll need to do your research before going ahead with them.
4. Opendoor
BIGGEST IBUYER
Service Fee: 5%4.4/5
Opendoor is the country’s biggest iBuyer. They offer cash for your home within 24 to 48 hours of submitting your details on their website. Opendoor is also flexible with closing timelines and move-out dates.
- Service Fee: 5% of the home sale price.
- Typical Offer: 70% to 80% of your property’s fair market value.
- Eligible Properties: Opendoor will make cash offers only on owner-occupied properties built post-1930 with a maximum lot size of 1.5 to 2 acres. Prefabricated homes, inherited properties, or homes with tenants do not qualify for Opendoor’s cash offer.
- Closing Offer Terms: Opendoor lets you close at your pace, up to 45 days after their offer. The final offer may change after the home inspection.
👉 Our Take: Opendoor will likely make a cash offer on your home quickly. But you will end up leaving almost 20% to 30% of your home equity on the table.
- Broad Coverage: Opendoor makes cash offers for houses in 51 markets across the country.
- Flexible Closing Dates: Opendoor allows you to close at your convenience – up to 45 days after their offer.
- Late Checkout up to 14 Days: Opendoor lets you temporarily stay in your home for up to 2 weeks after closing.
- No Cancelation Fees: You can cancel the contract without any cancelation fee.
- Lowball Cash Offer: Opendoor’s final cash offer may be below the property’s fair market value, around 70%. They also deduct repair and closing costs.
- Hefty Service Fees: Opendoor charges a steep 5% service fee for their services.
- Opendoor May Back Out of the Deal: Some homeowners have had a bad experience with Opendoor. Opendoor backed out of the cash deal at the last minute, leaving the homeowner stranded.
- Undisclosed Repair Cost Breakdown: The difference between Opendoor’s preliminary offer vs. final offer can be humongous. In many cases, sellers were forced to pay for unnecessary “repairs”.
- Strict Eligibility Criteria: Opendoor doesn’t pay cash for inherited properties, homes with tenants, pre-fabricated or mobile homes, and properties located in a flood zone.
Opendoor has a rating of 4.4 out of 5 stars on Reviews.io.
» Opendoor Reviews: Read customer reviews and our breakdown of Opendoor’s cash offer to make an informed decision.
Opendoor is a good option if your home needs minimal repairs. You can get a maximum of ~80% of your property’s fair market value. However, this means leaving thousands of dollars on the table. Their service fee is also a steep 5% of your home’s sale price.
5. We Buy Houses
QUICK AND EASY SALES
Service Fee: None1/5
We Buy Houses is a network of pre-vetted real estate investors. Each investor is thoroughly screened before being authorized to operate independently.
- Service Fee: None
- Typical Offer: 50% to 70% of the property’s fair market value.
- Eligible Properties: Distressed properties with structural issues, homeowners facing relocation, flawed mortgage financing, inherited homes, or homes in high-crime neighborhoods.
- Closing Offer Terms: We Buy Houses provides a flexible closing date, typically 7 to 14 days. The offer terms are not flexible.
👉 Our Take: We Buy Houses is an ideal option to sell your home quickly without the hassle of repairs. However, be prepared to settle for a lowball offer.
- Fast Cash Offers: You will typically receive the initial cash offer within 2 days.
- Zero Service Fees: We Buy Houses doesn’t charge any service fee in exchange for the convenience of selling your home for cash.
- Fast Closing: We Buy Houses can complete the entire home sale process in just 7 days after you accept their offer.
- Zero Repair Costs: When selling to We Buy Houses, you don’t need to prep the house or worry about repairs.
- Service Quality Varies: We Buy Houses operates on a franchise model. It means service quality can vary depending on the location.
- Limited Scope for Negotiation: We Buy Houses extends “take-it-or-leave-it” offers. You can try to negotiate, but usually, they won’t budge.
- Unsolicited Calls: Some reviews mention receiving unsolicited calls and texts from the company.
» We Buy Houses vs. Houzeo: Learn why Houzeo is better than “We Buy Houses”.
We Buy Houses has 1 star out of 5 on Better Business Bureau from only 4 customer reviews.
» We Buy Houses Reviews: Read this comprehensive review to learn more about the company.
We Buy Houses is a real estate investment company specializing in buying distressed properties at a discount across the country. You can sell your home without spending a dollar on repairs. However, you will be forced to settle for an offer that’s 50% to 70% of your home’s value.
This cash buyer operates on a franchise model. So, the quality of service you receive may differ based on your location.
6. We Buy Ugly Houses
NATIONWIDE COVERAGE
Service Fee: None2.6/5
We Buy Ugly Houses is a well-known cash home-buying company that helps homeowners sell their houses fast. It offers a fast, hassle-free sale without the need for repairs or renovations.
- Sell at $0 Commission: You can sell your home with a few photos and a basic property description without paying any agent commission.
- No Closing Costs: You don’t have to pay any closing costs as the company pays them.
- Typical Offer: 50% to 70% of your property’s fair market value.
👉 Our Take: We recommend We Buy Ugly Houses for a quick and hassle-free sale. You can negotiate the price for your home and close the deal without closing fees.
- Sell Your Home As Is: You can save thousands in repair costs by selling your distressed home as is.
- Cash Offer in Any Condition: You can get a cash offer, no matter what shape your home is in.
- Quick Closing Timeline: Once you accept the offer, you can sell your house within 2 weeks.
- Low Ball Offers: Cash offers are typically 50% to 70% of your home’s fair market value, depending on its condition and location of the house.
- Limited Negotiation: You might have less room to negotiate the final offer.
- Not Ideal for High-Value Homes: This option may not be best for homes in high-demand areas where you could get more by listing on the MLS.
We Buy Ugly Houses is rated 2.6 out of 5 stars on Yelp
» We Buy Ugly Houses Reviews: Read this in-depth review to learn more about them.
We Buy Ugly Houses operates as a franchise under its parent company, HomeVestors. Each franchise is independently owned and operated. This leads to variations in service quality and customer experience across different locations nationwide.
Further, if your home requires extensive repairs, you may just 30% to 50% of your home’s fair market value.
7. Highest Cash Offer
GREAT NETWORK
Service Fee: None4.9/5
Highest Cash Offer is a real estate solutions company that buys houses for cash. They are an ideal option for those looking to sell their properties quickly. The company will inspect your house and give a cash offer based on the condition of your home.
- Service Fee: None
- Typical Offer: 50% to 70% of Fair Market Value (FMV)
- Eligible Properties: Distressed properties with structural damage, inherited properties, tenant problems, code violations, etc.
- Closing Offer Terms: Highest Cash Offer provides a 7 to 30-day closing for its cash offer.
👉 Our Take: Highest Cash Offer is a good option if you want to sell your home as-is. However, you cannot negotiate the price of your home and be ready to accept low-ball offers.
- Sell As-Is: Highest Cash Offer buy homes as-is, so you don’t have to incur any expenses or worry about repairs. However, if the heavily damaged they may not consider purchasing it.
- Flexible Closing: You can close in as little as three weeks or at any time of your choice.
- No Additional Costs: There are no hidden fees or extra costs. You need not pay closing costs as well.
- Personalized Services: Highest Cash Offer has a dedicated team that helps you till the end of the sale.
- Nationwide Coverage: Their services are available throughout the US.
- Non-Negotiable Offer: Highest Cash Offer will not offer more than 70% of your property’s fair market value. After a thorough home inspection, they may quote an offer based on the after-repair value.
- Not 100% Online: Highest Cash Offer has a limited tech stack. This means a lot of processes, like requesting a counteroffer or managing inspections, will be offline and manual. They don’t even have a mobile app.
- Eligibility Restrictions: Not all properties may qualify for their services, particularly those in very poor condition or in specific locations.
Highest Cash Offer has 4.9 out of 5 stars with 36+ reviews from Reviews.io.
» Highest Cash Offer Reviews: Read our in-depth reviews on Highest Cash Offer and choose accordingly.
Highest Cash Offer is a real estate solutions company that offers homeowners quick and fair cash offers for their properties. They are ideal for those facing personal challenges or looking to sell swiftly. Furthermore, they don’t have any hidden fees or commissions, ensuring a smooth workflow.
Are Companies That Buy Houses for Cash in Illinois Legit?
Yes, companies that buy houses for cash are legitimate and operate legally nationwide. They purchase distressed properties at a discount, renovate them, and then sell them for profit.
3 Types of Companies That Buy Homes in Illinois
- We Buy Houses for Cash Companies: They typically extend offers for distressed homes and pay 30% to 70% of the properties’ FMV. These companies include popular names like HomeVestors and Heartland Buys Houses.
- iBuyers: They offer instant cash offers that are 70% to 80% of the FMV. Additionally, Opendoor and Offerpad have strict eligibility requirements, limiting the types of homes they purchase.
- Home Trade-In Services: These cash home buyers give you an advance on your cash offer before you move out, ensuring a smooth and hassle-free transition. Companies like Knock or Orchard provide this service.
4 Steps to Sell Your Home for Cash in Illinois
If you’re wondering how to sell your home for cash in Illinois, here’s what you need to do:
- Find a Cash Home Buyer: Research all companies buying houses for cash in your area. Choose one based on client testimonies and positive online reviews.
- Request an Offer: Once you’ve selected a cash buyer, request an offer on their website. You must provide information such as property type, number of bedrooms and bathrooms, asking price, etc. You will also have to give the reason for the home sale.
- Schedule a Home Visit: A representative from the company will come to inspect your house. They will then give you their final cash offer.
- Close the Deal: If you’re happy with the offer, finalize the deal. Remember to get all the paperwork for selling a house without a Realtor verified by a real estate attorney.
How Much Do “We Buy Houses for Cash in Illinois” Companies Pay?
Cash buyers in Illinois usually offer between 30% to 70% of a home’s After-Repair Value. The offer also depends on factors like the company you’re selling to, their service fees, etc. The After-Repair Value is calculated as follows:
After-Repair Value (ARV) = Property Purchase Price (PPP) + Cost of Repairs (COR)
Imagine if you’re selling your $300,500 home in Illinois. With a traditional cash home buyer, you could get just $210,350. But, with a cash buyer marketplace like Houzeo, you only pay $749 and get up to $299,751!
| Service Provider | Service Fee | Potential Offer (of the ARV) | Actual Offer Amount |
| Cash Buyer | None | 70% | $210,350 |
| iBuyer | 5% | 80% | $240,400 |
| Houzeo | $749* | Up to 100% | $299,751 |
📢 NAR Settlement Saves Sellers Thousands in Commission
The NAR Settlement went into effect on August 17, 2024. Buyer agent commissions can no longer be offered on the MLS. This means sellers will save thousands! But it also means there’s a lot more compliance and litigation risks.
Here’s what this means for you:
- Sellers Can Save Thousands in Commissions: You will likely pay much less than the traditional 3% buyer agent commission. That’s because buyer agent commissions will be negotiated twice: Once when buyers engage buyer agents, and again when sellers review offer contracts.
- Seller Priority #1 Will Be Paperwork (to Mitigate Compliance & Litigation Risks): Buyer agents mitigate all types of risks. From seller disclosures, offer contracts, contingencies, inspections, repair requests, appraisal, and closing – Buyer agents keep the paperwork tight. Their state licensing authorities, Realtor associations, and MLS’ audit paperwork compliance. Without buyer agents, sellers will have to learn and adapt. Or risk expensive litigation.
- Negotiations Can Now Feel Like Haggling: Buyer agent commissions will now be part of offer contracts and buyer agency agreements. Buyers may ask sellers to include commissions in the form of seller concessions. That means home buyers and sellers alike will be negotiating commissions. Sellers will need expert licensed brokers to help them with these negotiations.
- Buyer Agent Commissions Can Be Offered Offline: Buyer agent fees can still be offered outside of the MLS. They just cannot be advertised on the MLS.
Pros and Cons of Companies That Buy Houses for Cash in Illinois
✅ Pros
- Fast Cash Sale: Typically, sellers must list on MLS in Illinois and wait for potential buyers. “We Buy Houses for Cash” companies offer a cash deal within 24-48 hours.
- Flexible Closing: Cash buyers in Illinois close quickly and on your timeline. So you can sell your home anywhere between 7 days to 30 days as per your convenience.
- Zero Service Fees: Illinois’s cash house buyers don’t charge any service fee. Their net profit is enough to sustain their fix-and-flip model.
❌ Cons
- Lowball Cash Offers: Cash companies that buy homes in Illinois typically pay 30% to 70% of market value, deducting repair and resale costs.
- Non-Negotiable Deals: When dealing with cash home buyers, the offer is usually take-it-or-leave-it.
- Possible Closing Costs: Some buyers may require you to pay seller closing costs, so always review terms carefully.
Alternatives to Companies That Buy Houses for Cash in Illinois
- List Your Home With a Flat Fee MLS Service: You can get up to 100% of your home’s market value with an Flat Fee MLS Illinois listing. Your home is visible to multiple cash buyers and investors, increasing your offers.
- Hire a Traditional Full-Service Realtor: When you opt for a full-service Illinois Realtor, you will have to shell out a 5% to 6% commission. That’s $18,030 on a $300,500 home gone!
- List With a Discount Real Estate Broker: They are real estate professionals who offer the same services as traditional agents but for a lower fee. Discount real estate brokers in Illinois charge between 0.5% to 2% as fees.
- Sell “For Sale By Owner”: In an FSBO sale, you’ll have to opt for “DIY” marketing strategies like using FSBO signs and word of mouth. But your listing won’t be on Zillow, Trulia, and Realtor.com. Meanwhile, paid For Sale By Owner sites in Illinois will help you list on the MLS and increase exposure.
Should You Sell to Companies Buying Houses in Illinois?
Yes, but only if you want to sacrifice thousands of dollars. By accepting an offer from a single cash buyer, you may receive only 30% to 70% of your home’s value, sacrificing equity for a quick sale.
If you want the best of both worlds, a cash buyer marketplace is your best bet. Within 24 hours, your home will be visible to multiple local and national cash buyers, boosting your chances of competitive offers.
Frequently Asked Questions
Which is the best company that buys houses for cash?
Houzeo is the best cash marketplace for selling homes for cash in Illinois. Companies like Opendoor and HomeVestors have extended offers on homes listed on Houzeo.
How can you sell to companies that buy houses for cash?
To sell to companies that buy houses for cash, research local cash buyers in Illinois or use a cash buyer marketplace. Submit your home’s details, get an offer within 24-48 hours, and if you accept, close the deal in as little as a week.
How fast can I sell my Illinois house?
You can sell your house in 7 to 30 days when selling to cash buyers in Illinois.
» How to Sell a House Fast in Illinois: Learn how you can get your home sold in no time in the Prairie State.
What to look for when choosing cash home buyers?
Look for legitimate cash home buyers that have a great reputation in the industry. They should have positive customer reviews on platforms like Google that highlight their transparent processes and fair offers.
