We Buy Houses Springfield, IL: Top 4 Companies
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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.
Selling a home in Springfield, IL, can be stressful, especially if you’re dealing with a property that needs significant repairs. House-buying companies in Springfield, sometimes called “We Buy Houses” companies, offer an alternative to the traditional market: quick, all-cash offers that help you avoid the hassle of repairs or the uncertainty of the traditional market.
For homeowners who lack the time, money, or expertise to prep a home for sale, a cash offer can provide the speed and simplicity needed to move forward with your plans. Whether you’re facing a job relocation, inherited property, or financial challenges, selling to a cash buyer can be an effective way to address urgent needs.
In this guide, we’ll explore how these companies work, their pros and cons, and how they compare to other fast-selling options.
Sell Your House Fast in Springfield 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 Springfield.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Springfield area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Springfield
Selling your house to a house-buying company in Springfield is a straightforward process designed to be quick and stress-free. If you’re considering this option, here’s a step-by-step overview of what to expect:
1. Reach out to the company: Contact the house-buying company through their website or by phone to express your interest in selling your home.
2. Share details about your property: Provide basic information about your home, such as its location, condition, and any necessary repairs or updates.
3. Schedule a home evaluation: The company will schedule an in-person or virtual visit to assess your property’s condition and value.
4. Receive a cash offer: After the evaluation, you’ll receive a no-obligation, all-cash offer for your home.
5. Review and decide: Take the time you need to review the offer. If you accept, the process moves to closing.
6. Close on your timeline: The company handles the paperwork, and you choose the closing date that works best for you.
Popular We Buy Houses for Cash companies in Springfield
If the process of selling to a house-buying company in Springfield 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’ Greystone or Bungalow. By selling to one of these companies, you should be able to sell your Springfield home in as little as a week or two.
Sell My House Fast Chicagoland
Sell My House Fast Chicagoland is a team of real estate professionals who specialize in taking care of “burdensome properties.” Fill out the information online, and they’ll set up a walk-through appointment. After viewing the property, they’ll make a no-obligation offer that sellers can accept or reject.
Locations: Throughout Illinois
Closing costs: No closing costs for sellers.
Sell My House Fast Chicagoland has been accredited by the Better Business Bureau (BBB) since 2022 with an A+ rating. It has 5.0-star BBB rating and Google Business Profile with a 4.9-star rating.
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Springfield (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 Springfield.
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 Springfield
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
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.
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
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.
Locations: All of Illinois
Closing costs: Sellers pay no closing costs.
Windy City Solutions holds a 5.0-star rating on Google.
Website: windycitysolutions.com
Phone: 224-549-2260
Why sell your Springfield house for cash?
Selling via a real estate or on your own via the traditional market can be lengthy and time-consuming. Selling your Springfield home for cash to a We Buy Houses company is signifncantly faster than the open market, though it has some drawbacks.
In Springfield, it typically takes around 59 days to sell a home on the market using an agent. That includes an average of 15 days on the market plus the typical 44 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 Springfield, 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.
Below are common scenarios where a cash sale could be a good fit:
- Job relocation: If you’re relocating for work, a quick cash sale lets you transition to your new city without the hassle of a drawn-out process.
- Divorce: Simplify the division of assets by selling your home quickly during a divorce, saving time and reducing conflict.
- Inherited property: Selling a home you’ve inherited avoids the stress of maintenance, taxes, or disputes with other heirs.
- Downsizing: A cash sale can help you move into a smaller, more manageable space or retirement community with ease.
- Costly repairs: If your home needs major repairs, you can sell it as-is and skip the expense of fixing it up.
- Avoiding open houses: Skip the preparation, cleaning, and traffic of potential buyers walking through your home during open houses.
- Foundation issues: Selling a home with foundation problems to a cash buyer eliminates the need for expensive structural fixes.
- Foreclosure: A quick sale can help you avoid foreclosure and its long-term impact on your credit.
- Problem tenants: If your rental property has difficult tenants, a cash sale allows you to move on without legal headaches.
- Selling from out of state: Selling remotely can be tricky, but a cash offer simplifies the process and reduces stress.
Pros and cons of house-buying companies in Springfield
Working with a house-buying company in Springfield offers unique advantages and potential drawbacks. Understanding both sides can help you decide if this option fits your situation. Here’s a closer look at the key pros and cons of selling your home to a cash buyer.
Pros
Selling to a house-buying company offers unmatched speed and convenience. These companies buy your home in as-is condition, eliminating the need for repairs, cleaning, or preparations. Here’s a quick look at the major benefits:
- Speed of sale: Cash buyers can often close in as little as a week, providing a quick solution for homeowners who need to move fast.
- Buy as-is: You won’t need to spend time or money on repairs, no matter the condition of your home.
- No showings or staging: Skip the hassle of preparing your home for open houses or buyer visits—these companies buy directly.
- Certainty of closing: Cash offers have no contingencies, making the process more predictable than traditional sales.
Cons
The biggest downside of selling to a house-buying company is the lower price. Most companies pay below market value, which can leave you with less money compared to listing with an experienced agent. Other drawbacks include:
- Lower offers: Cash buyers typically offer 50%-70% of your home’s fair market value, which may not meet your financial needs.
- Potential scams: Be cautious of scams or untrustworthy buyers that take advantage of distressed sellers.
- No competition: Selling directly to a company means you won’t benefit from competing buyer offers, which can drive up your price in a traditional sale.
- Limited flexibility: Cash-buying companies often have a rigid, “take-it-or-leave-it” approach to their offers.
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
The level of integrity and service you experience from a We Buy Houses for Cash company can vary, even within an established house-buying group that strives to maintain high standards. This is because many Cash-For-Homes companies are franchises and often use independent investors or wholesaling outfits. Your experience depends on the character of the person or group making the offer.
Before committing to a cash offer, vet the company thoroughly. Check reviews, read testimonials, and research its presence and performance in the market. And, of course, read the buying agreement carefully before signing.
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 Springfield home quickly
If you’re looking for alternatives to house-buying companies, two popular options are iBuyers and listing with a top real estate agent.
iBuyers
iBuyers like Opendoor and Offerpad use automated valuation models to generate quick, all-cash offers for homes in good condition. They provide a mostly online, fast process, often closing in a few days to two weeks. While their offers tend to be closer to market value, service fees typically range from 5%-6%. This option is ideal for sellers in markets with uniform housing and properties in strong condition. Learn more about the iBuyer process.
Listing with an agent
Although selling through an agent may take longer, it can yield the highest price. A trusted agent can provide a comparative market analysis (CMA)—often free—to help you price your home strategically for a faster sale. Plus, agents can connect you with buyers willing to make competitive cash offers. If you’re considering this route, HomeLight can connect you with a top-performing real estate agent today.
FAQs on Springfield house-buying companies
By and large, most We Buy Houses for Cash companies in Springfield 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 Springfield 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 Springfield Bungalow could sell for $180,000 after repairs, but it will need $30,000 of work to get there.
($180,000 x .70) – $30,000 = $96,000
In this example, a Springfield We Buy Houses company might offer you around $96,000 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 Springfield 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 Springfield 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 Springfield vs. top Springfield 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 Springfield | Sell with a top Realtor in Springfield |
| Selling timeline | 7 to 30 days | 59 days average; 15 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 | 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 Springfield is worth about $180,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $205,000.
| Sell to a We Buy Houses for Cash company in Springfield | Sell with a top Realtor in Springfield | |
| Estimated sale price | ($205,000 x .70) – $25,000 = $118,500 | $180,000 |
| Market preparations | 0 | $1,800 (1% of sale price) |
| Agent commissions | 0 | $5,400 (3% of sale price) |
| Closing costs | 0 | $2,700 (1.5%) |
| Estimated take-home for seller | $118,500 | $170,100 |
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
- Quick and convenient: Selling to a cash buyer offers speed and simplicity, often closing in as little as a week.
- No repairs needed: House-buying companies purchase homes in as-is condition, saving you time and money on repairs or upgrades.
- Lower offers: Cash buyers typically pay less than market value, which might not meet your financial goals.
- Limited flexibility: These companies often provide take-it-or-leave-it offers with little room for negotiation.
- Research is essential: Not all cash buyers are trustworthy, so it’s important to vet companies carefully and avoid scams.
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 Springfield agent.
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