If you’re a homeowner, maybe you’ve gotten something in the mail from a company looking to buy your home. The ask usually goes something like this: “Hey, I’m So-and-So and I buy homes in your area for cash money! You don’t have to fix it up. I’ll buy it as-is right now!”
If you’re hard up for cash, this is an obvious temptation. When it comes to selling your home, there’s a whole cottage industry of companies willing to buy your property in whatever condition. Most homes that sell really quickly are bought by investors, but that’s not always the case.
Need cash quick? These companies will buy your home
In many cases, these “We Buy Houses” companies are real estate investment firms or individual investors looking to make a quick buck by flipping your home.
If you have a home that investors are interested in, should this be a case of “seller beware?” Not necessarily. At its most basic level, the root of any transaction is based on how motivated either a buyer or seller is at the moment.
In many cases, companies that specialize in fast home sales fill a niche that serves to remove old and vacant homes from the market, oftentimes transforming them into neighborhood gems.
To hasten the transactions, many of these investors will offer cash money. Not only do greenbacks help to reduce the processing costs of a real estate deal, but they motivate the seller to lower the price.
In any event, if you do decide to sell your home to a company that buys them for cash, here are some we are most familiar with:
These companies will buy your home for cash
1. The BuyGuys
TheBuyguys.com is a home-buying network operating in five states: Arizona, California, Colorado, Georgia and Florida. The company can typically close in 10 to 15 days.
3. Fast Made Offers
Fast Made Offers is a Southlake, Texas, company that touts that it can sell your home in nine days or even on the same day. Fast Made Offers has a network that extends internationally, so even if you have a property abroad, the company is set up to handle the sale.
4. We Buy Ugly Houses
We Buy Ugly Houses is a national network that allows investors to buy local franchises in their respective cities. The Dallas, Texas, based company has won numerous entrepreneurial awards for its deal-making prowess.
5. Networth Realty USA
Networth Realty USA operates in major 15 cities, including Houston, Atlanta, Tampa, Phoenix, Nashville and Los Angeles to name a handful. Although many investors buy homes with cash, NetWorth Realty offers short-term financing for its clients.
6. New Western Acquisitions
New Western Acquisitions is a Dallas, Texas, based company that has no finder’s fee or membership costs. The company relies on a number of real estate agents to find properties for its clients.
7. House Heroes
Based in the Sunny Isles Beach, Florida area, House Heroes is an “as-is” buyer that specializes in fast sales. The company typically can close on a South Florida home in as little as 15 days.
8. Need to Sell My House
Need to Sell My House is an online resource that allows you to request a cash offer for your home online. Prospective sellers will be contacted by the company within 24 hours, according to its website. They will then come out to meet with you assess the home and make an offer.
9. Expert Home Offers
Expert Home Offers is a Boise, Idaho, company that touts relocation services to get you a deal on moving out of town, depending on your circumstances.
10. Open Door
Opendoor.com promises to sell your home “with the press of a button.” Open Door is available in 18 cities, including new networks in Austin, Texas; Jacksonville, Florida; and Portland, Oregon.
11. We Buy Houses
We Buy Houses is also known as HomeVestors (listed above), and is a company represented in several cities and states across the nation.
12. We Buy Land
Similar to the home purchases, We Buy Land, known online as EasyLandSell.com, is a company that buys parcels for (literally) dirt cheap. The process is the same: They want to buy your lot as-is without you making any improvements so the price is low.
One thing you need to be aware of is that many investors only have one thing in mind: making money. That means that maintaining the neighborhood’s particular (or peculiar) charm or aesthetic is hardly on their minds.
Selling to a home quick-sale company more than likely means that your home will be flipped. That could lead to a process where your home’s value will skyrocket in value in a short period, often artificially.
The sudden appreciation of your home may not be met with smiles by your neighbors. Many longtime residents may be cool to real estate transactions involving investors.
Quick sale homes: 3 things to know before you sell
If you’re thinking of selling your home for quick sale, here are three things to be aware of.
- Don’t take offense: In business, it is often said that everything is open to negotiation. If you get a low offer, don’t feel insulted. These companies will typically offer you only 50 to 70% of your home’s value. They are usually looking for VERY motivated sellers who are in a money crunch.
- Neighborhood effect: These sales can drastically change the look and feel of a neighborhood, oftentimes for the worst. Just imagine if everyone started dumping their homes to investors in a short period of time.
- Pressure, pressure: Some of these “We Buy Houses Fast” companies may use high-pressure sales tactics once they find out you need cash or are in the middle of a divorce or some other negative financial situation. If you don’t feel comfortable negotiating, it’s good to have a broker to work through the deal to make sure your financial needs are being considered in the process.