We Buy Houses Logan Square: Top 4 Companies
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Joseph Gordon EditorClose
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 want to sell your house quickly in Logan Square, consider a We Buy Houses company. These businesses offer fast, all-cash deals for homes, even those needing repairs, helping sellers skip the hassle of renovations or a drawn-out listing process.
Selling to a cash buyer can be especially helpful if you’re managing a sudden relocation, financial pressure, or other urgent situations. By closing quickly, you gain the flexibility to move forward with your next steps without delay.
This guide will explore the pros and cons of working with house-buying companies in Logan Square and cover alternative selling options so you can decide what’s best for you.
Sell Your House Fast in Logan Square 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 24 hours and close in as few as 10 days. No showings, no repairs, no open houses. Available to sellers throughout Logan Square.
Working with house-buying companies in Logan Square
Selling your home to a house-buying company in Logan Square can be easy, even if you’ve never done it before. These companies handle much of the heavy lifting, and the process is designed to be effortless. Here’s how it works:
1. Research local companies: Start by finding reputable We Buy Houses companies in Logan Square. Look for reviews and testimonials to ensure you’re working with a trusted buyer.
2. Request an offer: Reach out to the company and provide details about your property. Many will ask for basic information like your home’s size, condition, and location.
3. Schedule an evaluation: Most companies will conduct a quick walkthrough or request photos to assess your home’s condition before making an offer.
4. Review the cash offer: After the evaluation, you’ll receive a no-obligation cash offer. This amount reflects the company’s assessment of your home’s value and repair costs.
5. Sign the agreement: If you accept the offer, the company will prepare a purchase agreement. Be sure to read the terms carefully before signing.
6. Close and get paid: Once the paperwork is finalized, you’ll close the sale, often within a week or two. Funds are typically transferred directly to your account.
Popular We Buy Houses for Cash companies in Logan Square
If the process of selling to a house-buying company in Logan Square 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’ Bungalow or Cape Cod. By selling to one of these companies, you should be able to sell your Logan Square home in as little as a week or two.
I Buy IL
I Buy IL is an established team of investors and real estate professionals located in the west suburbs of Chicago. Licensed to operate within the state, it buys properties primarily in the Chicagoland area. It focuses on a hassle-free experience for sellers in unusual situations.
It can give you a cash offer within 24 hours and a flexible closing date in as little as seven days.
Locations: Statewide
Closing costs: No closing costs for sellers.
I Buy IL holds a 4.2-star Google rating.
Website: ibuyil.com
Phone: 312-584-2960
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Logan Square (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 Logan Square.
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 Logan Square
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
Windy City Solutions
Windy City Solutions has been operating for five years in the greater Chicago area. It promises a three-step, stress-free process for sellers, where the team handles all paperwork, inspections, and closing proceedings. It will also consider small multi-family properties of 2-4 units in addition to single-family homes.
Locations: All of Illinois
Closing costs: Sellers pay no closing costs.
Windy City Solutions enjoys a 5.0-star rating on Google.
Website: windycitysolutions.com
Phone: 224-549-2260
We Buy Ugly Houses – HomeVestors
We Buy Ugly Houses, also known as HomeVestors, is a nationwide house-buying company that has been around for over 25 years. With franchises throughout the country, several branches service the state of Illinois. After filling out their online form, HomeVestors will send a representative to inspect the property before making an offer. Once an offer is in place, closing can happen in as little as three weeks.
Locations: Nationwide, including most zip codes in Illinois
Closing costs: Sellers pay no closing costs.
HomeVestors touts an A+ BBB rating, but each branch has a different accreditation record. Its Google Business Profile has a high rating of 4.6 stars.
Website: webuyuglyhouses.com
Phone: 877-959-0602
Why sell your Logan Square house for cash?
What are the best reasons to sell your Logan Square home for cash? Sellers will typically point to the ease and speed of the cash sales process when compared to a traditional listing.
In Logan Square, it typically takes around 106 days to sell a home on the market using an agent. That includes an average of 62 days on the market plus the typical 44 days a buyer needs to close on a purchase loan.
Sometimes, a traditional home sale isn’t the right fit for your circumstances. Selling your house for cash in Logan Square offers a faster and simpler alternative, especially when you’re facing unique challenges or urgent situations. Below are some of the most common reasons Logan Square homeowners choose to sell for cash:
- Job relocation: You need to sell your home quickly to move for a new job opportunity.
- Divorce: Selling for cash can ease the process of dividing property during a divorce.
- Inherited property: You’ve inherited a property and want to sell it without delay or extensive preparation. Learn more.
- Downsizing: You’re ready to downsize and simplify your living situation.
- Extensive repairs: Selling to a cash buyer lets you avoid the time and cost of repairs.
- Avoiding open houses: You don’t want to deal with the inconvenience or stress of hosting open houses.
- Foundation issues: Significant problems like foundation issues make your home difficult to sell traditionally.
- Foreclosure risk: A cash sale can help you avoid foreclosure and settle debts.
- Tenant-occupied property: You want to sell a rental property that still has tenants.
- Selling from out of state: You’re managing a home sale from afar and need the convenience of a quick cash sale.
Pros and cons of house-buying companies in Logan Square
Selling your home to a house-buying company in Logan Square has its pros and cons. Here are some of the primary ones worth considering:
Pros of house-buying companies in Logan Square
The biggest advantages of selling to a house-buying company are speed and simplicity. These companies will buy your house in any condition, eliminating the need for repairs or preparations.
- Fast closings: These companies can close in as little as 7-14 days, giving you quick access to cash.
- Sell as-is: You won’t need to make repairs, clean, or stage your home. Selling as-is saves time and effort.
- No contingencies: Cash buyers often forgo common contingencies, such as financing or inspections.
- Stress-free process: House-buying companies handle much of the paperwork and logistics, making the sale straightforward.
Cons of house-buying companies in Logan Square
The biggest drawback of selling to a house-buying company is the likelihood of receiving less than market value for your home. This is often the trade-off for speed and convenience.
- Below market value: Expect an offer that’s significantly lower than your home’s open-market value.
- Limited competition: Without multiple buyers, you miss out on the potential of competing offers driving up the price.
- Potential scams: Some companies may lack credibility or integrity, so it’s important to avoid scams.
- Lack of transparency: These companies may not explain their pricing methodology, leaving you with questions about the offer.
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
Not all cash buyers are created equal. Your experience with a We Buy Houses company in Logan Square will depend largely on the company’s integrity and professionalism. Here are some key steps to vet potential buyers and understand your home’s value:
- Check reviews and testimonials: Look for online reviews and feedback from past clients to gauge the company’s reputation.
- Research their track record: Verify how long the company has been in business and whether they have experience in Logan Square.
- Request references: Ask for references from previous sellers to ensure the company delivers on its promises.
- Read the agreement carefully: Understand the terms of the contract before signing, paying close attention to any hidden fees or conditions.
- Consult a real estate agent: HomeLight suggests working with a local agent to understand what your home might fetch on the open market.
- Use a home value estimator: Use HomeLight’s Home Value Estimator to get a ballpark estimate of your home’s worth in just minutes.
Other options to sell your Logan Square home quickly
If a house-buying company doesn’t seem like the right fit, there are other options for selling your Logan Square home quickly. Here’s a brief overview:
iBuyers
iBuyers are instant buyers that leverage automated valuation models to make quick, data-driven cash offers on homes in good condition. Companies like Opendoor and Offerpad can often close in just a few weeks. However, they typically charge service fees of 5%-6% and may not purchase homes that require significant repairs. Learn about the iBuyer process.
Listing with an agent
Partnering with a top real estate agent can also result in a fast sale. While the timeline may not match the speed of a cash buyer, listing on the market often yields a higher selling price. A trusted agent will provide a comparative market analysis, which is often free, to help you strategically price your home for a quick sale. Additionally, agents can connect you with buyers who may be willing to make competitive cash offers.
FAQs on Logan Square house-buying companies
By and large, most We Buy Houses for Cash companies in Logan Square 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 Logan Square 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 Logan Square Cape Cod could sell for $350,000 after repairs, but it will need $30,000 of work to get there.
($350,000 x .70) – $30,000 = $215,000
In this example, a Logan Square We Buy Houses company might offer you around $215,000 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 Logan Square 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 Logan Square 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 Logan Square vs. top Logan Square 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 Logan Square | Sell with a top Realtor in Logan Square |
| Selling timeline | 7 to 30 days | 106 days average; 62 to attract an offer, 44 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 Logan Square is worth about $600,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $625,000.
| Sell to a We Buy Houses for Cash company in Logan Square | Sell with a top Realtor in Logan Square | |
| Estimated sale price | ($625,000 x .70) – $25,000 = $412,500 | $600,000 |
| Market preparations | 0 | $6,000 (1% of sale price) |
| Agent commissions | 0 | $18,000 (3%) |
| Closing costs | 0 | $9,000 (1.5%) |
| Estimated take-home for seller | $412,500 | $567,000 |
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
- We Buy Houses companies offer speed: These companies provide fast, all-cash offers and can close on your home in as little as 7-14 days.
- Convenience comes with trade-offs: Selling to a house-buying company means you can skip repairs and staging but may receive less than market value for your home.
- Vetting is essential: Before accepting an offer, research the company’s reputation, check reviews, and read the agreement carefully.
- Explore other options: Consider alternatives like iBuyers or listing with a top real estate agent for a potentially higher sale price.
- Know your home’s worth: Use HomeLight’s Home Value Estimator or consult a trusted agent to compare your cash offer to market value.
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 Logan Square agent.
Editor’s note: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Logan Square area “We Buy Houses” companies should not be considered an endorsement.
Header Image Source: (Imagenet/ Depositphotos)
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
