The best companies that buy houses for cash are the ones that can help you sell your house not just fast but without any hassle. The best buy houses for cash companies make near-instant offers and help you close your sale as per your timeline. However, you would not be able to fetch the full price of your home out of that quick, easy sale.
‘We buy houses for cash’ companies pay just around 50% of the fair market value of your home and mostly purchase homes that need major repairs. iBuyers or instant Buyers are better companies than we buy house companies in the pricing respect. They make offers on your house that are close to its fair market value but not as high as what you could get from the open market.
But if you’re considering a cash offer, we recommend getting a professional home valuation from an experienced local realtor before you make a decision. Compare the cash offer to what an agent thinks your house is actually worth, then pick the option that gets you the highest sale price on your timeline. Nevertheless, when you want to get done with your house in a short time, working with one of the best companies that buy houses for cash is your way out.
When you are planning to sell your house to ‘buy houses for cash’ companies, get to know the costs associated with flat fee MLS listing for comparison purposes. Broadly speaking, there are three types of costs associated with a flat fee MLS listing. They are as follows:
The hidden fees may make your sale more expensive than what you had budgeted for. The hidden charges in flat fee MLS can even ruin your experience of selling a home FSBO.
Read This Also: What’s the Process of Buying a Home?
‘We buy houses’ companies are good for you if your home needs huge repairs, you are facing foreclosure, or if you have inherited a home due to a death in the family.
iBuyers or instant buyers could work out best for you if your house is in need of minimal repairs and you want an easy, hassle-free sale. But it might not work out for you as it is only available in about 40 cities and has strict buying criteria, which might make selling to an iBuyer non-viable for you.
If your home is in a poor condition requiring extensive repairs, one of the best companies that buy houses for cash can be your best option as they give you a quick offer, fix up your home after the sale, and cover all of the closing costs. But you won’t get a competitive offer even with the best companies that buy houses for cash.
Also, it is not that buying houses for cash is not legit. Most ‘we buy houses’ companies are legitimate businesses making fast cash offers. They are either pre-vetted investors or they buy houses directly. Alternatively, if you work with a local real estate investor, you are on your own for checking their references, negotiating the deal, and requesting proof of funds.
In most cases, listing your home with a real estate agent would get you much more money as compared to selling it to one of the best companies that buy houses for cash. Even when selling your home quickly is your top priority, a seasoned realtor can help you find a marketing strategy that lets you get under contract and sell your home quickly without you having to let go of your hard-earned money.
So, ‘we buy houses for cash’ companies can be a good option for you if you want quick money and don’t want any associated hassle.
Below is the list of the best companies that buy houses for cash in the US:
Opendoor is the most well-known and the largest iBuyer operational in 47 cities in the US. A comparison between Opendoor and Offerpad reviews suggests that Opendoor normally pays a bit more for houses as compared to Offerpad. However, Opendoor can’t close the sale quickly, having a closing timeline that can go up to 60 days.
Offerpad is another good real estate company that buys houses for cash. Offerpad reviews suggest that the company is known for its simple UI and fast closing timeline. Founded recently in 2017, Offerpad offers extensive housing market data, cutting-edge technology, and knowledgeable market specialists.
Offerpad can help you sell your houses for cash, fast. It offers 80% to 100% of your property’s Fair Market Value. Also, the 5% service fee of Offerpad is the same as Opendoor but Offerpad offers more flexibility as you are able to extend the closing of your home sale by up to 90 days.
Offerpad is operational in 25 cities and usually gives a preliminary offer within just 24 hours and can close the sale in just eight days. Offerpad reviews suggest that it is best for you if you own desirable properties which require fewer repairs and if you want to close the sale fast.
Zillow has under it an iBuying service by the name of Zillow Offers. Launched in 2018, it provides a quick, hassle-free option to you by offering quick closing and instant cash offers. Zillow Offers can provide 80% to 110% of your property’s fair market value. You just have to provide your home’s address, its photo, and some basic information about your property on Zillow’s website or mobile app to get a cash offer. Zillow representatives evaluate your home and make an offer based on Zestimate, their home evaluation tool.
We Buy Ugly Houses holds a good reputation in the market as an individual cash buyer. However, your experience can vary as per the quality of your local ‘We Buy Ugly Houses’ franchise. While the company can close the sale in under three weeks, they pay way less than a home’s fair market value.
Sundae is a real estate marketplace that connects distressed property home sellers with investors who want to buy such houses. Compared with other cash buyer companies, the business model of Sundae can fetch you a high off-market offer. You may give it a try!
So, for houses requiring minor cosmetic repairs, buyers is best; for houses requiring many repairs, one of the best companies that buy houses for cash. Otherwise, you can think of going to the open market and working with a real estate agent.
For most home sellers wanting cash in return, Houzeo is a great solution. An MLS listing with Houzeo.com offers great exposure to a great number of cash buyers including Homevestors and Opendoor.