Pros and cons of house-buying companies in Orland Park
Selling your home to a house-buying company in Orland Park has some clear pros, particularly if you need to sell quickly and don’t want to deal with repairs or market uncertainty. These companies purchase homes in any condition, offering a streamlined process that’s often much faster than the average days on market in Orland Park. However, there are some cons to consider, including receiving less than you might get with a traditional sale.
Pros of selling to a house-buying company in Orland Park
- Fast closing: Many house-buying companies can finalize your sale within a week or two, making this an ideal option if you need to move quickly. For example, selling through an Orland Park agent might take around 95 days (average days to close loan (46) + average days on market (49) in Orland Park)
- Buys homes as-is: These companies purchase homes as-is, meaning you don’t have to spend time or money on repairs, staging, or cleaning.
- No financing delays: Since buyers pay in cash, you won’t have to worry about contingencies or loan approvals slowing down the process.
- Minimal effort required: There are no showings, open houses, or negotiations—just a straightforward offer and quick sale.
Cons of selling to a house-buying company in Orland Park
- Lower sale price: You will likely receive an offer that is below market value, meaning you could walk away with less money than if you sold with an agent. Most We Buy Houses companies use the 70% rule to determine their offering, meaning they will offer you about 70% of your home’s after-repair value minus their estimated repair costs.
- Example: If your Orland Park home is worth $350,000 and needs $XXXXX in repairs, an offer might look like this: ($350,000 x .70) – $30,000 = $215,000
- In this example, an Orland Park We Buy Houses company might offer you around $215,000 for your home.
- Limited negotiation: Most house-buying companies present take-it-or-leave-it offers, giving you little room to negotiate a better price.
- Potential for scams: Not all cash buyers are reputable—some are scams that target desperate sellers with unfair deals or hidden fees.
- Fewer seller protections: Unlike a traditional home sale, these transactions typically favor the buyer and offer fewer contractual safeguards for the seller.
It’s also worth noting that a top Orland Park real estate agent might be able to get you more value for your home than a cash offer.
For example, after factoring in potential closing costs, agent commissions, and market preparations, an agent might help you walk away with $330,750 for the same home as listed above.
Your situation matters
The best option for you depends on your home’s condition, repair needs, and selling goals. Cash buyers can be a good fit if time is a priority, but selling with a real estate agent may yield a higher price.
Proper vetting of any company you might enter into a major transaction with, like selling your home, is important.
HomeLight suggests you consult with an experienced local agent to understand better 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 make an initial ballpark estimate in less than two minutes.
Why sell your Orland Park house for cash?
Selling your Orland Park home for cash can be a practical choice when speed, certainty, or convenience is a priority. Whether you’re facing a major life change, an urgent financial need, or a property that requires significant repairs,
Here are some common scenarios where selling for cash might be the right solution:
- Job relocation: You need to sell your home quickly to move for a new job opportunity.
- Divorce: You and your spouse want a fast sale to simplify the division of assets during your divorce.
- Inherited property: You’ve inherited a home but don’t have the time or desire to maintain or manage the inherited property.
- Downsizing: You or a loved one are moving to a smaller home or a retirement community.
- Major repairs: Your home has costly damage, and you’d rather sell than invest in expensive repairs.
- Avoiding open houses: You want to skip the hassle of prepping your home for open houses.
- Foundation issues: Structural concerns make it hard to sell on the open market, but a cash buyer is willing to take on the foundation problems.
- Foreclosure risk: You need to sell quickly to avoid the financial damage of foreclosure.
- Problem tenants: Managing renters has become stressful, and you’re ready to sell your rental property.
- Selling from out of state: You own a home in Orland Park but live elsewhere and want an easy way to sell remotely.
- Selling your parent’s home: Your parents have moved to assisted living or passed away, and you need to sell their home efficiently.
Popular We Buy Houses for Cash companies in Orland Park
If the process of selling to a house-buying company in Orland Park 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’ ranch home or colonial-style house. By selling to one of these companies, you should be able to sell your Orland Park home in as little as a week or two.
