We Buy Houses in Chicago Companies – Are They Credible?

If you’ve been driving around in Chicago, chances are you’ve seen some billboards (or paper signs stapled to telephone poles!) advertising companies that buy houses.

Often times they say things like “We Buy Chicago Houses!” or “Cash For Your House” or “We Buy Ugly Houses.” Yeah, those signs. (We even have our own sign that we stick in the yard of every property we purchase to renovate, see below, that’s me!)

Are These “We Buy Houses in Chicago Companies” Credible?

How do I know if the local house buying companies out there are honest and credible?

Well, sometimes they all look the same, especially at the start. Below we’re going to walk you through some key things to look for in a local house buying company before you decide to work with them.

Buying and selling houses is a valid and respectable profession that can help communities and house sellers in a variety of ways. But just like any other line of work, there are always a few bad apples. This minority of house buyers who do not operate with integrity are the ones who make the rest of us look bad.

There are people who truly are great. Ethical folks improving their neighborhoods, one property at a time.

And then there are shady, dishonest people who put money ahead of the well-being and peace of mind of their clients. Those who would sign the contract to sell their own grandmother with one hand while stabbing you in the back with the other – as long as they were making enough money.

Yes, these people do exist. 

We can help you avoid these “shady house buyers” so you end up working with honest and reputable local companies who will buy your house for a fair, all-cash offer, and close on your timeline.

But let’s not focus on the negative – at least not yet.

First, let’s cover exactly what the best house-flippers are doing.

What Reputable Chicago House Buyers Are Doing

  • Helping folks improve their lives by accessing the money they need right away. People often need the cash in their house (ie: the equity) to cover unexpected medical expenses, or to relocate to be close to a relative.
  • Ridding sellers of a burdensome property without the hassle of having to list it with a broker and wait months (or longer) for a sale.
  • Creating local jobs. We hire plumbers, contractors, electricians, brokers, title reps, loan officers, administrators, and many other entities along the way. The average real estate transaction involves 86 people from start to finish. Our projects help create real jobs for people around Chicago IL.
  • Buying U.S. products. We spend tons of money on materials that are made right here in the USA – this in turn creates jobs in our timber mills, factories, supply shops, distribution centers and more. The U.S. economy depends on steady improvement, and that requires investment from people like us.
  • Increasing the value of Chicago neighborhoods. When we improve a house, we’re helping to increase the value of the entire community. We often repair abandoned and neglected houses, turning them into beautiful homes for families. That activity strengthens Chicago.
  • Increasing the tax base. When a new buyer takes over one of our properties, they’ll pay a higher tax rate based on the new and improved value. Those taxes go to pay for our schools, fire, police, libraries, streets and other valuable pieces of infrastructure.  

Pretty cool stuff, right?

Lots of people think of house-flipping as a get-rich-quick scheme. That belief is only exacerbated by silly reality TV shows that amp up the drama because the reality of what we do on a daily basis is actually pretty boring. The reality of what we do on a daily basis also takes much longer than what you see on TV.

Most of our work entails coordinating with lots of people to make sure things are happening on time. There are so many moving parts to buying a house in need of repair and then beautifying it for a new buyer.

So let’s get back to how you can use this information to find out if someone is a credible investor, and not just pulling a house buying scam.

How To Ensure You’re Working With A Reputable Local House Buyer

When you talk with a local house buyer to potentially buy your house, ask them some of the questions below to ensure they’re reputable, knowledgeable, and honest.

Ask open-ended questions like:

  • How do you help your clients?
  • What do you do for people?
  • Can you tell me more about your services?
  • What aspect of your business makes you the proudest?
  • How would you describe your investment philosophy?
  • How can I know that you’ll close on my house when you say you will?

Second, look for tell-tale signs of tactics that those few shady operators tend to use.

  • RED FLAG: ‘Kitchen table closings’ – If a property buyer tries to get you to sign the deed (ownership) of your house over to them at your house, rather than a professional place like a closing attorney or title company, be leery.  Most reputable house buying companies will perform the actual closing of the sale at a neutral 3rd party place, such as a title company. This ensures everything is done right and on the up-and-up.
  • RED FLAG: Pressuring you into a fast closing – If a house buyer tries to pressure you into selling your house and says that you have to make the decision today, be leery. Most reputable house buying companies will make you an offer, and that offer will be on the table for at least 2-7 days (minimum) for you to make a decision.  The reason reputable house buying services like ours at Property People LLC do place deadlines on our offers is because the market changes and values can change week to week, depending on other sales in the area. Additionally, we buy multiple houses a month, and when we make you an offer, we’re assuring you that the cash to purchase your house is ready and on reserve. This helps us fulfill our promise to you, and be able to close on your timeline.  If you feel the offer isn’t a fit for you, then we’ll assign those funds to help another seller with their home sale.

Most scammers are looking for a quick score, not an in-depth interview.

Chances are that they’ll find excuses to get off the phone with you and move on to someone who doesn’t ask too many questions.

True investors who run honest and ethical Chicago house buying services, however, are building long-term businesses based on relationships and community development.

So when you’re looking at one of the “we buy houses in Chicago companies“… never be afraid to ask questions!

Give us a call anytime at (312) 857-8572 or
fill out the form on this website today! >>

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