We bought a home in Naperville: Top 5 companies

Pros and cons of home buying companies in Naperville

If you are considering selling to a homebuyer in Naperville, it is important to think about benefits and trade-offs. These companies offer speed and convenience, but simplicity can be paid. Here are the pros and cons of a quick look at:

People who sell to a Naperville home

• Quickly close: Most home buying companies can complete sales within a week or two. This is much faster than the traditional route. For example, it may take 99 days to sell through Naperville Agents (Average Days to End Loan + Average Days (53) in Naperville).
• No preparation: You can skip repairs, upgrades, installments and cleaning. These buyers occupy the home.
• No financing holdings: Since the purchase is cash-based, there is a risk of not reaching a deal due to unexpected events or loan approval issues.
• Minimum effort required: No display, no open houses, no round-trip negotiations – just a clear proposal and quick exit.

Disadvantages of selling to a home buying company in Naperville

• Lower sales price: When sold to a company that has a home, you may receive a quote below the market value, which means you can walk away with less money than using an agent. This is because most of our homebuying companies use 70% of the rules – meaning they will provide about 70% of the rules for the expected post-value (ARV) of your home, minus its estimated repair costs.
  • example: Assume your Naperville home is worth $550,000 and needs about $25,000 to repair. Use 70% rule: ($550,000×0.70) – $25,000 = $360,000
  • In this case, a Naperville cash buyer may offer your home a price of about $360,000.
• Limited negotiations: Most of these companies present corporate, or IT offers, so there is little room to negotiate higher prices.
• The potential of scams: Not all cash buyers are trustworthy – some try to trick sellers into having trouble, offering unfair deals or slipping and hiding fees.
• Less Seller Protection: Unlike traditional sales, cash transactions often benefit buyers and provide sellers with less legal or contractual protection.

It is also worth noting that working with Naperville’s top real estate agents may result in better financial results.

For example, after considering typical sales expenses, such as settlement costs, agency committees, and market preparation, experienced agents can still help you get $519,750 or more, which is a big difference from cash quotes.

Your situation is important

The best approach depends on the current condition of your home, repair needs, and overall sales goals. If you prioritize speed, it might be a cash offer. On the other hand, if it’s more important to maximize your selling price, listing with a trusted Naperville real estate agent can yield higher prices.

No matter which route you are considering, you have to do your homework before making any major deals, especially ones as important as selling a home.

At Homelight, we recommend talking to a knowledgeable local real estate agent first. They can give you a realistic estimate of the home’s market value and help you weigh it against any cash offer you receive. Homelight can match you with the best performing agents in the Naperville area if you prefer.

Need a quick starting point? Try Homelight’s home value estimator to provide course numbers for your property in less than two minutes.