How to Sell a House for Cash in Three Easy Steps
STEP 1
Tell us about your house. We’ll get back to you in 24 hours.
STEP 2
We’ll make you a fair, all-cash offer based on its condition.
STEP 3
We close when you want at a title company and you get your cash fast.
To start, simply fill out our short information form above or give us a call at 312-210-0115. For homes that qualify, we can present you with a fair cash offer within 24 hours with zero obligation.
Selling Your Chicago Area Home for Cash in a Quick & Easy Way
This process works no matter your situation. Everyone’s situation is unique, but one thing unites every seller.
Stress!
Whether mom needs to go to a nursing home, or your family home is in probate, the situation is causing you stress and anxiety. You have to deal with another mortgage, taxes, utilities on top of your own life problems.
You might have a house filled with stuff you don’t want and don’t want to have to clean out. You might have costly repairs. You don’t want to deal with a realtor and multiple showings and a process that takes months from beginning to end.
There is a better way!
There are companies who buy houses in any condition. Olson Home Buyers is a leading Chicagoland cash home buyer. Here are some common FAQs on how to sell a house for cash.
ANSWERS TO YOUR QUESTIONS
“How do I know I’m getting the best all-cash offer for my house?”
Because we walk you through the formula that we use in every home sale across Chicagoland to make sure you get the most money possible. This means you are always treated fairly and with dignity. You will be walked through the process of how to sell a house for cash step by step so you can feel confident it’s not a low-ball offer.
“Are you one of the companies that buys homes in any condition?”
Yes. If you’re worried the house is too full of stuff or is in poor condition, we can work with that.
“Won’t the inspection bring all the problems to light?”
There won’t be a formal home inspection. We walk through the property, sometimes with our contractor, to quickly assess the repairs needed to come up with our offer. Traditional home inspectors often derail a sale, but companies that buy homes in any condition skip that traditional route.
“I don’t have the time or money to move.”
We can help with that, too. Our general contractors have all kinds of resources including movers.
“How long will it take? I need the cash fast.”
The short answer is it can take a matter of days to a few weeks. Once we review your property, we can get you a cash offer within 24 hours. Once you sign the contract, we can close on average in 10-15 days.
“Why would I sell to you when I could list with a real estate agent?”
If you have time and don’t mind the work of a traditional sale, this will sometimes be your best bet. People call us when they want to learn how to sell a house for cash fast and skip all the hassles. If putting it on the market is your best option, we will tell you that.
“What Are You Not Telling Me?”
If you still have questions, we have answers. Read more below on the step by step process on how to sell a house for cash. If we still didn’t address a question, reach out today and we’ll make sure you understand everything.
Contact Us Today To Get Your Offer!
Want more information on how we decide on the price to offer for your house? It all comes down to a formula that we follow for each property. We don’t just pull a number from thin air. We want to offer as much as possible to make it a winning situation for both of us. Otherwise, you won’t sell to us anyway so it just makes sense.
Our Formula for How to Sell A House for Cash!
ARV – Repairs – Costs to Sell – Profit = Your Offer
If you don’t get it, don’t worry… No one does the first time reading it. It takes more explanation. Let’s break it down.
– ARV = After Repair Value.
This is the sale price your home would get on the open market once it’s entirely fixed up.
We assess your property’s condition and compare it to other homes in your neighborhood to determine its value. We look at those other homes’ conditions, finishes, acreage, bedrooms, EVERYTHING that contributes to its worth and determine a fair market price for your property “As-Is.”
– Repairs
We take this number and figure out the cost to repair your house to be similar in finishes and updates to the neighbor’s house.
– We subtract the selling costs
These can include what’s commonly referred to as carrying costs, or things we have to pay while we are remodeling your home in preparation to sell it. Insurance, utilities, HOA fees, and taxes are all still due. When we sell, there are advertising costs and realtor fees.
– Profit
We do have to make a reasonable profit. This is how we keep the lights on in our own home and feed our families. This is how we pay our employees and contractors and allow them to feed theirs.
When all the numbers make sense, that gives you money in your pocket!
That’s a win-win formula.
You’ll get rid of a house you don’t want. No more stress! No more anxiety about what’s ahead. You can move on and get a fresh start.
Get your no obligation offer today. We can close in as little as 7 days, or set the closing for a date that is convenient for you.
Want to see a real-life case study or example of how much you can get for your house? Sure!
Here Are The Numbers
For example, if your home has 3 bedrooms, 1 bath, and was built in 1942, that is not comparable to a 4 bedroom, 2 bath home built in 2002.
Instead, let’s say a home across the street does have 3 bedrooms, 1 bath, but imagine that homeowner has upgraded to a new kitchen with Silestone countertops and new tile and flooring throughout the house and a dry, finished basement. That property recently sold for $200,000. That means that if your home was fixed up, it could also potentially sell for the same price.
Example Home: Here’s an example from the last home we worked on.
After Repair Value (ARV): $240,000
Repairs: $40,000
Selling Costs: $24,000
Current “As-Is” Market Price: $170,000
Our Projected Profit: $30,000
Let’s Plug Those Numbers Into the Formula:
240,000 – 40,000 – 24,000 – 30,000 =
YOUR CASH OFFER OF $146,000
“Is My House Eligible?”
We are one of the companies that buys houses in any condition. When you figure out how to sell your house for cash to us, you don’t have to do any of the repairs. No clean-up or clean out. Many homeowners don’t want the stress of overseeing a costly remodel with contractors who don’t show up or do a shoddy job.
You call us when you prefer to sell your home fast without the hassle. If you choose a realtor, inspections and the repairs they uncover can take 45 days to ninety days to complete. Then, the realtor will take 6% of your sales price.
That means on your $240,000 sale, they’ll get $14,400 off the top. When you don’t want to deal with that, you call us!
Still Have Questions? No Problem!
How long does it take from getting an offer to getting cash in hand?
It can take as little as 7 days but the average is 2-3 weeks. We can act fast but cities and villages have different sale requirements and they don’t always work on our timeline.
What does “as-is” mean?
We buy your home in Cook County, DuPage County, Will County, Lake County and beyond as-is, meaning you don’t have to worry about doing repairs, fixing your home up, or getting it ready for showings.
We’ll handle all repairs, inspections, and more after we buy your home. We have to factor this into our offer but it saves you the money and the headache associated with getting your home ready to sell.
What does an “all-cash offer” mean?
“All-cash” means exactly that – all cash for your home! Because we are real estate investors who are purchasing your home directly, we don’t rely on traditional financing like regular buyers.
When you learn how to sell a house for cash to us, there’s no risk of the having to wait forever for a closing. And when we make you an offer, that’s the full amount you’ll receive.
How fast is a fast closing?
After you send us your house’s information, we can make you a no-obligation, fair all-cash offer in as little as 24 hours. Once you say yes, we close at a local, legal, reputable title company in as little as 7 days, with the average being 2 weeks.
Compare that to the 30-45+ days it can take to close when listing your house the traditional way. And if you don’t need it done fast, we’ll close on a day that works best for you.
Flexibility is our middle name!
There are lots of companies that buy houses in any condition. Choose Olson Home Buyers for a tailored solution and a fast and fair offer.