Onyx Homes, LLC

Frequently Asked Questions

How does the process work to sell my house?

Once you have completed the Sell Your Home Fast Form on our homepage one of our real estate specialists will contact you shortly (usually within 24 hours). In some situations, we will need to gather additional information. We will research your property and discuss all the details with you. Our company may be able to buy your home directly from you right over the phone, or in most cases we will schedule a time with you to view the property and make you an offer!

What sort of houses do you buy?
We buy houses in any condition, in any area, in any price range, in any situation! We will buy your house as-is, you don’t need to do ANY repairs!
What do you mean “any condition, area, price range, or situation”?
Whether your house is in foreclosure, over-leveraged, condemned, has liens or health department violations, not maintained, fire-damaged, or about to fall down WE CAN BUY IT!
Are you REALTORS™?
Onyx Homes, LLC is a real estate investment and solution company. We are property acquisition specialists that buy houses directly from sellers; we want to BUY your home. There is never a fee or commission when we buy your house. However, if listing your property is the best solution then we can and will connect you with a recommended licensed agent.
What will your service cost me?
Nothing! We do not charge you any fees to discuss your situation, make you an offer or to buy your home.
Is my information kept confidential?
ABSOLUTELY 100%! Your privacy is of the utmost importance to us. Any information you provide is completely confidential! If you want to deal with a reliable, reputable company who will treat you with professionalism, understanding, and respect – YOU HAVE COME TO THE RIGHT PLACE!
What if I am behind on my payments, in foreclosure or bankruptcy? Are you still able help?
YES! Onyx Homes, LLC is a professional real estate solutions company with years of experience in solving these types of difficult situations. Please contact us for a confidential consultation.
What is the process of using an escrow entail?

An escrow is a term that refers to a neutral third party hired to handle the exchange of money, property transaction, and related documents. The escrow holds the money and documents in a trust until all terms and conditions of the sale are satisfied. When depositing earnest money, it is wise to use an escrow account.

How long will it take to sell my home?

Onyx Homes, LLC is committed to helping you accomplish this goal quick and easy. Our process eliminates all the traditional roadblocks that slow or stop a sale from happening. We pay cash and close fast!

You are under no obligation to sell your house to us. If our cash offer is the right option for you, we will open escrow and you can receive your cash in as little as 7 to 14 days, or on your timeline. It is that easy and stress-free to sell your house fast on your terms when you use our service.

What does a real estate investment company do?

A real estate investment company refers to a business that focuses the majority of its efforts and capital on real estate. In search of profits, real estate investment companies may choose to buy, renovate, sell, or finance properties.

Do you have a good team?

We are a husband-and-wife house buying team. We have been buying houses in the Chicago, IL area over the last 4 years. We pride ourselves on our integrity and work ethic to do the right thing for our sellers and buyers.

Through our extensive knowledge of the business, network of resources, and years of expertise, we are able to assist homeowners with a wide variety of real estate problems. We love working one-on-one with each customer to handle their individual situations.

We are truly committed to helping each individual customer. We focus on a fast response time, integrity and over-delivering on customer service. By putting our customer’s needs first, we can help you realize your real estate goals.

Who will Handle the repairs?

It doesn’t matter what condition your house is in, we can help you by making a fair cash offer on your home today. The costs involved in repairs, touch-ups, painting, and cleaning leave you drained and cost you thousands of dollars. Not to mention; extra mortgage payments and tax payments taking money away from your bottom line.

And all of this is before the house is even on the market! We buy houses on your terms AS-IS, without requesting any repairs. Take what you want with you and leave everything else behind. We handle the clean-up.

Will you be listing my house on the MLS or actually buying it?

Great question. We’re not agents, and we don’t list houses. We are professional home buyers: We buy houses in Illinois that meet our purchasing criteria. From there we may repair the house and resell it to another homeowner or keep it as a rental ourselves.

Do you pay fair prices for properties?

We are looking to get a fair discount on a property. In our experience, many sellers aren’t necessarily expecting a large “windfall” on the property but rather appreciate that we can offer cash for your house in its ‘As-Is’ condition. We are local investors who seek to simplify the process of selling your house. We use our own funds to make our offers. We buy houses and we are ready to buy your house for cash today! Agents take way too long to list and sell your house and they charge you a 6% commission in the process. We are professional home buyers only interested in buying your house for cash, which will save you time, money and effort. We also allow you to close on a day that’s convenient for you. Our process is designed to give you full control of how you sell your home.

How do you determine the price to offer on my house?

We’re an open book: Our process is very straightforward. We look at the location of the property, what repairs are needed, the current condition of the property, and values of comparable houses sold in the area recently. As you know, house values have taken a huge hit in the last 5 years and most areas still haven’t seen prices come back up. We take many pieces of information into consideration… and come up with a fair price that works for us and works for you too.

Are there any fees or commissions to work with you?

This is what makes us stand out from the traditional method of selling your house: There are NO fees or commissions when you sell your house to us.
Once we evaluate the property, we then present a written offer that is fair based on the condition of the house. If you decide to move forward with the deal, we’ll give you 100% cash for your house. At Onyx Homes, we strive to make every aspect of selling your home easier. We are real estate investors who work hard and fast to provide you with the best result and service possible!

How are you different from a real estate agent?

Real estate agents list properties and hope that someone will buy them. The agent shows the properties to prospective buyers if there are any (the average time to sell a property in many markets right now is 6-12 months) and then takes a percentage of the sale price if they find a buyer. Oftentimes, the agent’s commission is 4-6% of the sale price of your house. Agents provide a great service for those that can wait 6-12 months to sell and who don’t mind giving up some of that sale price to pay for the commissions. But that’s where we’re different: We are professional cash home buyers. Our process does not involve getting pre-qualified by a mortgage bank in order to obtain a home loan or listing the property on the MLS or any other listing platform. The reason our team at Onyx Homes is able to purchase properties very quickly is that we use our own money, which means the sale is more secure and we can close faster than a traditional buyer.

What Is an As-Is Home sale?

When a home is put up on sale as an as-is listing, it means it’s being sold in its current state—no upgrades or improvements will be made by the seller. The home may have major repair needs or maybe it requires a style and décor update. If a home is sold as-is, then the buyer takes responsibility for repairs and modifications, including problems that may not be apparent at the time of sale.

Can I Work With an Attorney?

Yes you may! And if it is easiest we can communicate with your attorney directly to coordinate any closing or title issues. We want to make sure each client feels comfortable no matter what situation is going on.

Does It Matter If I leave stuff behind?

Since we buy properties in as-is condition you can leave whatever items you do not want behind. So if you have odds & ends that you haven’t touched for the last 5 years and have no plans to, we will take care of it. In most cases we either donate or dispose of any unwanted or garbage items.

When is the best time to sell a home?

Early spring and summer, especially June, is a great time to sell a home. Research shows that home sales in May, June, July, and August account for 40% of total annual sales volume.

Overall, home sales are still pretty good through early fall, so it wouldn’t be a bad idea to sell a home during this period, either. However, home sales drop once winter hits. January is the worst time to sell a home, as market activity is much lower.

Why sell to a house/home buying company?

Some sellers may opt to work with a company that buys houses because their home needs a lot of work before they could consider listing it. Maybe the roof should be replaced or repaired, the windows are in rough shape, or the entire place is a cosmetic eyesore.

Not all sellers have the time or budget for hefty renovations necessary for a proper listing, and that’s OK. In addition, some sellers hate the idea of repeated showings. It raises their blood pressure and they want an easy, fast solution.

Can I Still Sell My Home If I Am Behind on My Mortgage Payments? In Foreclosure?

At Onyx Homes, we purchase many different types of properties – even if you are behind on mortgage payments, are facing foreclosure, have a tax levy on the property, or the property is in poor condition. You can look at the types of property we buy for cash here.

If your house is facing foreclosure, and it has not been finalized, meaning that the bank does not own it, we can still make an offer to buy it. If the foreclosure auction takes place and the bank has taken the referee’s deed then you do not own the house anymore, and therefore we cannot purchase it from you for cash.

Can I Sell My Home With A Tenant?

Yes. We are experienced dealing with bad or problem tenants. You have every legal right to sell your home with tenants. Every circumstance is different and this will be taken into consideration when offering you a cash value.

Not all sellers have the time or budget for hefty renovations necessary for a proper listing, and that’s OK. In addition, some sellers hate the idea of repeated showings. It raises their blood pressure and they want an easy, fast solution.

How many homes should I view before buying one?

That’s up to you! For sure, home shopping is easier today than ever before. The ability to search for homes online and see pictures, even before setting a foot outside the comfort of your living room, has completely changed the home buying game. Convenience is at an all-time high. But, nothing beats visiting a home to see how it looks and ‘feels’ in person.

Why is my home’s assessed value different from the market value?

Your home’s assessed value and market value are each determined by different factors. Buyers and sellers affect the market value of a home, while professional appraisers calculate the assessed value. In a seller’s market, your home’s market value may be higher than its assessed value. That’s because buyers are willing to pay more than the home is technically worth because of low inventory. In a buyer’s market, you’ll be facing a lot of competition from other sellers, so buyers may put in an offer lower than the home’s assessed value.

Can I back out of buying a house?

Yes, but you may lose earnest money (basically, a security deposit given to the seller upon signing a contract).

You can also face legal consequences if you back out of the agreement for a reason not outlined in the purchase agreement. This document outlines important details, such as repairs the seller is responsible for and contingencies of the real estate deal.

However, there are certain scenarios where breaking a purchase agreement is understandable. If you lose your job, can’t sell your current home, or can’t get approved for a mortgage, it’s best to wait until you reach financial stability before buying.

Other issues with the home, such as a failed home inspection, unrepaired problems, or difficulty with transferring the title, are also acceptable reasons to back out of an agreement.