If you need to sell your house fast, you can use a cash home buyer, an iBuyer, or a home trade-in service. These companies can give you an offer within days and help you close quickly, sometimes in as little as 1–2 weeks. Here are our top picks for companies that will buy your house fast for cash.

7 best companies to sell my house fast for cash

Company	Customer Rating	Type	Best for	Service Fee	Time to Close
Best overall Clever Offers	5/5 (2,950 reviews)	Cash offer network	Comparing multiple offers	None	Varies by offer type	Learn More On listwithclever.com
Opendoor	4.3/5 (3,501 reviews)	iBuyer	Quick closing and reasonable fees	5%	14–60 days (flexible)	Learn More
Offerpad	4/5 (2,706 reviews)	iBuyer	Convenience over sale price	5%	8–90 days (flexible)	Learn More
Orchard	4.4/5 (614 reviews)	Home trade-in	Solid trade-in option	1.9% service fee + 6% brokerage fee	14–60 days (flexible)	Learn More
We Buy Ugly Houses	4.4/5 (1,356 reviews)	Franchise cash buyer	Good for an as-is home sale	None	3 weeks	Learn More
We Buy Houses	4.5/5 (3,135 reviews)	Franchise cash buyer	Hard-to-sell homes	None	7–14 days	Learn More
Knock	4.8/5 (833 reviews)	Home trade-in	Good for an older home	2% service fee + realtor commission	Varies	Learn More

Best overall

Clever Offers

Learn More

On listwithclever.com

Offer Rating

Excellent

Service Fee

None

Time to Close

Varies by offer type

Editor's take

Overview

Locations

Clever Offers takes all the hassle out of finding cash offers and increases your chances of selling your home for top dollar. 

It's a great fit for sellers who want to sell quickly but don't have time to track down cash offers. Clever will seek multiple offers on your behalf — including lesser-known options like novation agreements and seller financing — and encourage each buyer to offer their best price to secure the deal.

If you choose, you can also get matched with a real estate agent for a professional home valuation. That way, you can compare offers against a realistic sale price.

Once you decide on an offer, Clever stays with you through the process to answer any questions and ensure the buyer follows through.

Pros

• You get multiple cash offers on your home — for no added fees or commissions.
• You don't have to track down reputable cash home buyers. Clever has already vetted the investors.
• You have a dedicated point of contact to connect you with investors and walk you through the offer process.

Cons

• Clever won't buy your house from you.
• Some deal types (like novation agreements and seller financing) may have longer closing times.
• Cash offers will likely be less than what you'd get selling with an agent.

Clever Offers matches you with fully vetted cash buyers in your area. Through this free service, you get to choose from multiple cash offers so you can get the best price within your timeline.

How it works: You submit a short online form, then a Clever Offers concierge reaches out to gather information on your property and discuss your options. You also get matched with a licensed agent who can provide a home valuation, which is useful in negotiating cash offers.

Our concierge then finds motivated cash buyers in your area. Once we fully vet the cash buyer to ensure they're serious about buying, we introduce them to you. You can schedule a call with the buyer whenever it's convenient.

You can continue to request more cash offers as often as you'd like. Once you're ready to move forward with a buyer, our concierge lets the other buyers know.

Clever Offers is available nationwide.

Quick closing and reasonable fees

Opendoor

Learn More

On listwithclever.com

Offer Rating

Average

Service Fee

5%

Time to Close

14–60 days (flexible)

Editor's take

Overview

Locations

Opendoor is a good option for home sellers who need a fast, predictable sale with minimal hassle. Its offer might be slightly below the value of comparable homes on the open market, but the difference might be worth it for people who value convenience and speed.

Pros

• The 5% service fee is lower than some competitors charge.
• Many customer reviews rate the company highly.

Cons

• Offer prices may vary by market.
• You have a limited ability to negotiate.
• Buyers may find Opendoor's repairs insufficient.

Opendoor is an iBuyer that uses technology to make fast cash offers on homes.

To sell your house to Opendoor, you can:

• Enter your address online and answer a few questions about your property
• Receive a free estimate
• Set up a free home condition assessment
• Get a no-obligation cash offer
• Choose a closing date

Opendoor is available in 56 major markets in AL, AZ, CA, CO, DC, FL, GA, ID, IN, KS, MA, MI, MN, MO, NC, NJ, NV, NY, OH, OK, OR, SC, TN, TX, UT, and VA.

Most flexible closing date

Offerpad

Learn More

On listwithclever.com

Offer Rating

Average

Service Fee

5%

Time to Close

8–90 days (flexible)

Editor's take

Overview

Locations

Offerpad is a good choice if you need a fast cash offer and a specific closing date. Of all the iBuyers, Offerpad has the most flexible closing (8–90 days). It's also a good choice if you could use one of its perks, like a free local move or a free three-day stay after closing.

Pros

• It has a longer closing window than competitors.
• The late checkout option gives sellers up to three days to move out after closing.
• You can access additional services, such as free local moves within 50 miles.

Cons

• There's a 1% cancellation fee if you back out of the sale.
• Its offers are less than what you could get on the open market.

Offerpad is an iBuyer operating in more than a dozen states. It can make a fast, no-obligation cash offer on your home and has a flexible closing date of 8–60 days. The offers are better than what you’d get from most other cash buyers, although still below fair market value.

Offerpad also offers free local moves and has good customer service. However, its 5% service fee will significantly add to your closing costs, and it has strict criteria for eligible homes.

Offerpad is currently available in 24 major markets in AZ, CO, FL, GA, IL, IN, KS, MO, NV, NC, OH, SC, TN, and TX.

Solid trade-in option

Orchard

Learn More

On listwithclever.com

Offer Rating

Average

Service Fee

1.9% service fee + 6% brokerage fee

Time to Close

14–60 days (flexible)

Editor's take

Overview

Locations

Orchard is a solid option if you want to access your current home's equity to buy a new home. It's also a good option if you want to try selling for top dollar on the open market, but also have the peace of mind a backup cash offer provides.

However, Orchard only accepts homes built between 1920 and 2020 and worth between $200,000 and $1 million (or $1.5 million, depending on the market).

Pros

• You can use Orchard's Offer Boost program to make a cash offer on a new home.
• If your home doesn't sell in 120 days, you can accept Orchard's guaranteed cash offer.
• Orchard offers interest-free funding for home improvements.

Cons

• Orchard's combined brokerage and service fees are higher than what you'd pay an iBuyer or realtor.
• Orchard's cash offer will likely be much lower than what you'd get on the open market.

Orchard Real Estate is a home trade-in service, meaning it can front you the money to make a cash offer on a new home before you sell your old one. If your old home doesn’t sell within 120 days, you can then accept Orchard’s guaranteed cash offer.

This business model gives you the security of having a backup offer if your home doesn’t sell on the open market. But Orchard’s cash offers tend to be low, and it has high standards for the homes it accepts.

Orchard operates in these locations:

• Colorado: Denver
• Georgia: Atlanta
• Texas: Austin, Dallas–Fort Worth, Houston, San Antonio

Good for an as-is home sale

We Buy Ugly Houses

Learn More

On listwithclever.com

Offer Rating

Poor

Service Fee

None

Time to Close

3 weeks

Editor's take

Overview

Locations

We Buy Ugly Houses has a better reputation than most individual cash buyers, but your experience can vary based on the quality of the local franchise. While We Buy Ugly Houses can close in as little as three weeks, it pays far less than fair market value.

Pros

• You're selling to a trusted, nationally recognized brand.
• You don't have to spend time or money on repairs.
• You can close in as little as three weeks.

Cons

• Service quality varies between franchises.
• You'll likely sell for much less than you'd get on the open market.

We Buy Ugly Houses purchases homes as is. It provides a convenient solution for sellers who have homes in poor condition or need to sell quickly.

The company stands out from competitors because it’s available in many locations across the US.

HomeVestors has 1,000+ independently operated franchises across 46 states and Washington, DC.

Decent for an as-is home sale

We Buy Houses

Learn More

On listwithclever.com

Offer Rating

Poor

Service Fee

None

Time to Close

7–14 days

Editor's take

Overview

Locations

Selling to We Buy Houses is likely a better choice than selling to a private investor. We Buy Houses vets all its investors and gives them an exclusive license to operate in its territory, so investors who use the brand name have an incentive to work hard to maintain their advantage.

Pros

• You can close in just seven days.
• You don't have to pay for repairs.
• You're selling to a vetted, reputable real estate investor.

Cons

• There's little to no room for negotiation.
• Individual investors have different strategies, so they may value your home differently.
• Licenses are exclusive, so there will be only one We Buy Houses option in your area.

We Buy Houses is a nationally recognized brand with a strong track record in the industry. It accepts homes as is, so you don’t need to worry about making repairs, cleaning, or upping your home's curb appeal. Plus, you can close fast, sometimes in just a week.

Like many of its competitors, We Buy Houses is essentially a house flipper. Offers are lower than what you’d get on the open market with a real estate agent, and there’s little room to negotiate. Because it’s a franchise company, service quality can vary between local offices.

We Buy Houses operates in 200 markets in over 30 states.

Good for an older home

Knock

Learn More

On listwithclever.com

Offer Rating

Average

Service Fee

2% service fee + realtor commission

Time to Close

Varies

Editor's take

Overview

Locations

Knock allows you to purchase a new home before selling your old one. You list on the open market with a traditional real estate agent, and Knock covers your old mortgage until your home sells. But you still have to pay back the money, and costs can add up fast if your home sits on the market.

Pros

• You sell on the open market, potentially receiving offers above fair market value.
• You get a $35,000 advance for home repairs before selling.
• Compared to competitors, Knock accepts older homes (built after 1930).

Cons

• Fees can add up quickly, especially if your home sits on the market.
• You'll have multiple points of contact rather than one dedicated agent.
• To take advantage of the program, you need to have a fair amount of equity in your home.

Knock is a home trade-in service, which allows you to use the equity in your current house to buy a new home before you sell. It can even advance you $35,000 for repairs to increase your home's curb appeal and cover your mortgage payments until your house sells.

However, fees quickly add up, especially if your home sits on the market for a long time. You also work with a team instead of one dedicated real estate agent, so you may have to do more work yourself to sell your house. Knock has a guaranteed cash offer in case your home doesn’t sell, but it'll be lower than what you'd get on the open market.

Knock operates in select cities in these states: AZ, CA, CO, FL, GA, IL, MD, MI, MN, NC, OR, SC, TN, and WA.

What's the best way to sell my house fast?

According to JC Young, a top listing agent and author of several real estate books, the best way to sell your house fast depends on your situation.

For example, in a divorce where the parties prefer minimal communication, a quick home sale to an iBuyer could be a good option.

If you have a distressed property or a home facing foreclosure, you might have trouble selling on the open market. In these cases, it makes sense to find a cash buyer willing to purchase your home as is.

If you need to time your home sale with a new home purchase, you could use a home trade-in service. This service helps you use your current home's equity to buy before you sell so you can avoid having two mortgages.

"There are many ways to sell your house," says Young, "and many of those ways will sell your house quickly." She advocates sitting down with a real estate agent to review different selling options side-by-side. That way, Young suggests, "you can determine which would be best for you, and which you'd prefer to have based on what you will net."

Sell to a cash buyer

If your top priority is simply getting out from under your mortgage, a cash buyer can help you do it. Cash buyers can purchase your house quickly, and they're often willing to buy homes that wouldn't sell otherwise, including those with major issues like water damage or cracked foundations. 

But these companies are real estate investors. They buy distressed properties to resell them for a profit, so they pay as little as possible.

We talked to one homeowner who sold her house to HomeVestors (also known as "We Buy Ugly Houses") for $60,000. Because the market conditions were so favorable at the time, the company sold the house two months later for $116,000 with minimal repairs.

The homeowner got the speedy sale she wanted, but with a little extra time she could have sold for $56,000 more!

Selling to a cash buyer may make sense if you're facing foreclosure, your property is badly distressed, or you're dealing with bad tenants. However, we highly recommend getting multiple offers from different cash buyers before you accept one. This will give you more negotiating power and ensure that each company brings its best offer forward.

Sell to an iBuyer

If you have a home in fairly good condition, an iBuyer can help you sell your home in under two weeks and generally pay a lot closer to market value than a cash buyer.

Unlike cash investors, who seek distressed properties they can flip for a hefty profit, iBuyers typically opt for homes in fairly good condition that are comparable to others selling in the area. That means they buy homes with a typical lot size (no bigger than 1.5 acres) and a price point that falls within a given range for the metro.

iBuyers currently operate in only about half of the US. They mostly stick to major cities with healthy real estate markets and a higher concentration of residential homes for sale.

To boost their earnings, iBuyers typically charge services fees of about 5% of the purchase price. But these fees can climb to 10% or more depending on the amount of prep work the home needs and how long the iBuyer thinks it'll take to resell.

List your home on the open market

If you want to sell fast for the most money, consider selling on the open market. Although the median days on market (from listing to close) for all homes is 67 days, it's possible to sell much faster.

JC Young, who has nearly a decade of experience selling homes in Austin and North Texas, says that if a buyer brings cash, "closing can happen as soon as two days after they get the title work and HOA documents — or seven to ten days total."

Young notes that many buyers also get fully underwritten by their lenders before submitting offers, allowing them to close 14–17 days after signing the contract — about the same amount of time it takes to sell to an iBuyer.

If you need to sell quickly, the right real estate agent will adjust their approach to expedite the process.

A realtor may even suggest pursuing multiple tactics to ensure a faster closing, like soliciting cash offers from third-party buyers and using an iBuyer as a backup. Some local real estate agents will even guarantee the your home sale by offering to buy it themselves if it doesn't sell otherwise.

⚡ Want to find top-performing real estate agents near you? Answer these five questions to get matched with local agents who work for just a 1.5% listing fee. Compare agents from the top discount companies and major brands like Keller Williams and RE/MAX.

Use a trade-in service to buy before you sell

A home trade-in service can help you sell quickly when moving from one home to another.

When you sell and buy a home, it's rare for the closing dates to match up perfectly. A study by Clever found that 74% of home sellers worry that their home will take too long to sell and 58% fear that the timing will cause their next home purchase to fall through. A trade-in service can ease these worries. 

These companies front you the money to buy a new house before you sell. Once you move out, they help you list your home on the open market, where it has the greatest chance of selling for top dollar. Most companies offer interest-free loans to cover minor repairs and improvements to help you maximize your home's selling potential.

If your home doesn't sell within the listing period (usually 3–4 months), the trade-in company purchases it for an amount that you agree upon up front. This backup cash offer is generally less than what you'd get on the market, but it gives you the assurance of a guaranteed sale.

Trade-in providers charge service fees of up to 6%, which is about the same as what you'd pay a realtor. Depending on the company, you might also have to pay rent on your new home until your old one sells. These fees and expenses are automatically deducted from your proceeds at closing.

5 tips to sell your house fast

1. Get a great agent. A realtor who has experience in your local market can advise you on how to price your home and prepare it for the market to sell as quickly as possible.
2. Seek a buyer with secure financing. Selling delays are often due to financing issues on the buyer's end. Look for potential buyers who are further along in the loan underwriting process, can pay all cash, or have an offer without many contingencies.
3. Set a competitive asking price. Pricing a bit below market value can help your home move faster, but don't go too extreme. Pricing too low might cause buyers to think that there's a hidden issue with your home. Ask your realtor for a comparative market analysis to see what similar homes in your area are going for and set an appropriate asking price.
4. Start your due diligence ahead of time and disclose issues. Order a home inspection before listing your property on the market. Be thorough with your seller's disclosure. Ask your agent to prepare a package of documents to send out to interested parties. Consider working with a title company before listing to resolve any issues that may delay the title transfer.
5. Show your home in its best light. Remove personal items and deep clean before your showings to attract buyers. Realtor JC Young estimates that some homes in her North Texas market could sell for as much as 10–15% more with a modest $200–400 investment in cleaning services.

Find the best companies to sell your house fast by state

Many national services aren't available everywhere, so you’ll need to check which ones are in your area.

Local companies operating in one region or state may also be a good choice. These local buyers often have excellent knowledge of the local real estate market and may provide more personalized service.

Click on your state or city below to find companies near you that can buy your house fast.

FAQ about selling your house fast

Related reading

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The Top 6 iBuyer Companies to Buy Your Home

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How Do You Buy a House Before You Sell Yours?

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Clever Offers: How It Works, Competitors, and Pricing

Everything you need to know about Clever Offers from Semya-Moya, including key benefits, how the service works, and where it's available.

Methodology

This guide draws on over 100 hours of research from Clever’s editorial team. Our research included analyzing service offerings and business models of various real estate technology companies.

We also talked to home sellers and interviewed both external and in-house real estate professionals with expertise in listing, marketing, and selling homes:

• JC Young, real estate author and licensed agent
• Luke Babich, real estate investor and Semya-Moya CEO
• Todd Stolte, real estate investor and licensed agent

We also drew on data and research from these sources:

• Zillow
• Zavvie
• AttomData
• National Association of Realtors
• Realtrac

The post 7 Best Companies to Sell Your House Fast appeared first on Semya-Moya.

What's the best alternative to Zillow Offers?

Why did Zillow Offers shut down?

What is Zillow Offers?

• The premier agent (for marketing)
• The home seller (for commissions and service fees)
• The home buyer when it resells the house

Zillow Offers vs. Zestimate

Incomplete or flawed data will lead to an inaccurate Zestimate. This is why talking to a local real estate agent with an in-depth knowledge of your home and the area is the best way to find an accurate market value for your home.

How does Zillow Offers work?

1. Apply online. To start, Zillow Offers collected basic information, such as your address and the condition of your home, through an online form. Data from Zillow transactions suggests Zillow only purchased around 2% of the homes submitted for offers.
2. Review the initial offer. If your home was eligible, your home's Zestimate served as the initial cash offer in most markets. (Keep in mind: This was not the final offer, which would likely have been thousands less after a home inspection. Zestimates can be thousands of dollars off.)
3. Complete an inspection. If you decided to move forward, Zillow Offers scheduled an on-site home inspection to identify any necessary home repairs.
4. Review the revised offer. Zillow Offers presented a final cash offer that included deductions for repairs. At this point, you could accept and sign a purchase agreement, or decline with no penalty or obligation.
5. Close the deal. Once you signed the sale contract, you could schedule a closing date in as little as seven days, or up to 90 days if you need more time.

Buying a home from Zillow Offers

Additional Zillow services

Zillow Offers fees

Where is Zillow Offers available?

Zillow Offers reviews by customers

Zillow Offers alternatives

Zillow Offers vs. selling with a real estate agent

Opendoor vs. Zillow Offers

Other iBuyers vs. Zillow Offers

Offerpad

Full review

Service fee

6%

Closing date window

8–60 days

Average rating

4 (2,656 reviews)

✍ Editor's take

Pros and cons

Locations

Reviews

Contact

Offerpad promises the certainty of a cash offer and a fast closing on a date you choose. Of all the iBuyers, Offerpad has the most flexibility when it comes to closing (8–60 days) and is liked by customers for its personalized customer service and perks like a free local move.

Pros

• There's a longer closing window compared to competitors.
• The late checkout option gives sellers up to three days to move out after closing.
• You can access additional services, such as free local moves within 50 miles.

Cons

• There's a 1% cancellation fee if you back out of the sale.
• It's not as widely available as competitors like Opendoor.

Offerpad is currently purchasing homes in 25 locations, including:

• AL: Birmingham
• AZ: Phoenix, Tucson
• CA: Riverside, Sacramento, San Bernardino
• CO: Colorado Springs, Denver, Fort Collins
• FL: Jacksonville, Orlando, Tampa
• GA: Atlanta
• IN: Fort Wayne, Indianapolis
• KS: Kansas City
• MO: Kansas City, St. Louis
• NV: Las Vegas
• NC: Charlotte (+ neighboring parts of SC), Raleigh
• OH: Columbus
• SC: Columbia
• TN: Nashville
• TX: Austin, Dallas-Fort Worth, Houston, San Antonio

As of 8/7/2023, Offerpad's average customer rating is 4 based on 2,656 reviews.

• Review.io: 2.1 (21 reviews)
• Better Business Bureau: A+ | 4.18 (262 reviews)

• Website: offerpad.com
• Phone: (844) 388-4539
• Email (sellers): info@offerpad.com
• Email (buyers): buyers@offerpad.com

RedfinNow (No longer available)

Full Review

Service Fee

5–13%

Closing Date Window

10–30 days

Average Rating

Not available

❗Note

Pros & Cons

Locations

Reviews

Contact

In November, 2022, Redfin announced that its home-buying service, RedfinNow, would be shut down. If you're still looking for an iBuyer, check out our list of top iBuyers.

Pros

• Expanded presence in cities across California, including several not served by other iBuyers
• Large and trusted corporate brand
• Older homes (built after 1930) are eligible in select cities

Cons

• Relatively expensive services fees (up to 13% of the offer price)
• Relatively limited flexibility on closing window, compared to competitors

RedfinNow is currently purchasing homes in 31 locations, including

• AZ: Phoenix
• CA: Inland Empire, Los Angeles, Orange County, Palm Springs, Sacramento, San Diego, San Francisco
• CO: Denver
• TX: Austin, Dallas, Houston, San Antonio
• WA: Seattle

As of 10/21/2022, RedfinNow's weighted average is 2.5 based on 7 reviews.

• Trustpilot: 2.5 | {ibuyers.redfinnow.trustpilot_count} reviews

• Website: www.redfin.com/
• Phone: (951) 229-0511
• Email: redfinnow@redfin.com

Should I sell my home to Zillow Offers?

FAQs

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Offerpad and Opendoor both offer the convenience of a quick home sale, but neither pays as much as you’d get by listing with a realtor. Offerpad has some nice perks — like free stays after closing — while Opendoor is more widely available.

Reviews for both companies are fairly good overall, but complaints have increased recently. Both companies are making lower offers and becoming more selective about the properties they buy.

The biggest variable with either iBuyer is repair costs. In our research, we found that home sellers were often disappointed by how much lower their final offer was after deductions for repairs.

How to compare offers from Offerpad vs. Opendoor

If you're serious about selling your home to Opendoor or Offerpad, you should request offers from both companies and know your home's estimated market value with and without repairs. Having competing offers is the easiest way to gain negotiating leverage in a home sale.

Free services like Clever Offers can help you compare offers from iBuyers like Offerpad and Opendoor with the sale price you'd get with an agent. You can also explore offers from individual investors in Clever's network, who can help you maximize your home value while still providing the hands-off convenience of a cash home sale.

With all your options laid out, you can decide if the cost of selling to an iBuyer is worth it to you.

Offerpad vs. Opendoor: Which is better?

Both companies offer below market value

Opendoor used to make higher offers than Offerpad. But since the market cooled, their offers are similar. They both offer well below what you’d get on the open market with a real estate agent. And they tend to lower their final offers after an inspection.

However, that doesn’t mean they’ll offer the same amount for your home. Each company has its own method for calculating its offers. So the only way to find out which is better is to get offers from both.

Opendoor and Offerpad may charge high repair bills

We found many complaints about Opendoor and Offerpad charging high estimates for repairs after their in-person inspections. These repair costs can dramatically reduce your final offer.

However, the cost varies between companies on a case-by-case basis. For example, Bradley Carpenter of Kansas City said that Offerpad’s inspection led to a $40,000 reduction in its offer, while Opendoor’s reduction was only $7,000.

Offerpad’s inspection process tends to be more thorough and involves an in-person inspection of the interior and exterior of the home. Opendoor’s inspection is much simpler.

As Carpenter told us, “I was surprised [Opendoor] didn't at least come in and look around to make sure everything was okay. But there was no interior inspection at all. It was just basically, these three dudes came out and they walked around the exterior for maybe 20 minutes and then they left.”

Both companies charge similar fees

Opendoor and Offerpad charge a 5% service fee, which is similar to realtor commission in a traditional sale. However, Offerpad has a 1% cancellation fee if you back out after signing the purchase agreement, and Opendoor doesn't have a cancellation fee.

If you need to stay in your house after closing, Offerpad allows you to do so for free for three days. Opendoor lets you stay for up to 17 days, but you have to pay a daily fee (based on your home’s rental value) and a $2,000 security deposit.

Offerpad has better perks and more services

Offerpad easily beats Opendoor when it comes to perks and offering a wider range of services. Unlike Opendoor, Offerpad offers free local moves, cash advances for home improvements, listing services for sellers, home loans, and discounts when you bundle services.

Opendoor has relatively few perks. You may be eligible for discounts on your mortgage if you finance through Opendoor’s partner company Lower. Opendoor Exclusives — which are discounted off-market homes — is another perk, but only available in Texas.

Opendoor is more widely available

Opendoor is available in 26 states and Washington, DC — nearly twice as many as states as Offerpad. Both companies tend to serve only major metropolitan areas.

Both companies have similar complaints from buyers

Buyer reviews of both companies complain about repairs that were poorly done, often resulting in buyers paying extra to fix problems after moving in.

Also, Opendoor doesn't usually negotiate with buyers.

Barry Richards, Principal Broker at EXIT Realty Garden Gate Team in Springfield, Tennessee, told us that Opendoor houses are usually priced high and stay on the market until a buyer is willing to pay that price. He said, “My experience with Opendoor specifically is they don't respond to low offers.”

Offerpad vs. Opendoor: How they work

Offerpad and Opendoor are both iBuyers, which is a type of company that buys houses for cash. Unlike typical cash buyers, iBuyers use algorithms to make offers and only buy houses in reasonably good condition.

Offerpad and Opendoor differ slightly in how they purchase properties and in other details. Both offer additional services besides their core iBuying service.

Offerpad's services

To sell directly to Offerpad, you need to fill out an online questionnaire. Then Offerpad sends you an initial offer, which is contingent upon an inspection. Our research shows that Offerpad's inspection is usually more extensive than Opendoor’s.

After the inspection, you get a revised offer plus an estimate for repair costs. You can choose to complete the repairs yourself or have Offerpad do them for you.

If you accept Offerpad’s final offer, you can choose a closing date within 8–90 days (the minimum depends on your location). You can stay in your house for free for up to three days after closing and get a free local move within 50 miles.

The company also provides additional services, including a traditional agent service, listings for buyers, home loans, and bundled services at a discount.

Opendoor's services

Selling to Opendoor is mostly like selling to Offerpad. You fill out an online questionnaire, get an initial offer, and complete an inspection. Opendoor’s inspection is often much less involved than Offerpad’s. Some sellers simply upload photos or videos of the interior while a representative inspects the exterior.

After the inspection, you receive a revised offer, which includes repair costs. Unlike Offerpad, Opendoor doesn't let you do your own repairs. Opendoor completes them for you.

If you accept Opendoor’s offer, you choose your closing date. You can also stay in your home for up to 17 days after closing. The company charges a daily fee based on your home’s rental value.

Opendoor offers fewer additional services than Offerpad. As a buyer, you can buy an Opendoor-owned home, get a buyer’s agent, and, in Texas, get access to exclusive listings before they’re listed on the MLS.

Fees

Both Opendoor and Offerpad charge sellers a 5% service fee. The service fees may seem substantial, but they’re comparable to the 6% commission you'd pay agents for a traditional sale.

Just like in a traditional sale, you also have to cover closing costs, which vary by sale and are usually 1–3% of the sale price.

Opendoor allows sellers to cancel without penalty anytime before closing, whereas Offerpad charges a 1% cancellation fee if you back out after signing an agreement.

Here’s how the fees break down on a $350,000 sale:

Even though the 6% commission real estate agents charge may be more than iBuyer fees, sellers still tend to make more money listing with an agent because homes typically sell for more money on the open market.

» MORE: Where to find the best low commission realtors

Reviews

We analyzed hundreds of reviews from actual Opendoor and Offerpad customers. Because of its size, Opendoor has thousands more reviews than Offerpad and has more reviews that are positive.

• Reviews from Opendoor customers rate the company 4.2/5 across 3,603 reviews.
• Reviews from Offerpad customers rate the company 3.7/5 across 862 reviews.

Opendoor reviews

Positive Opendoor reviews mention its seamless closing process, which was especially appreciated by those who needed to sell quickly.

As this reviewer said, “I did not have time for a real estate company and dealing with an agent, showings, and all the things that goes into that. Opendoor made it very easy to show my home, proceed through closing, and sell my home with minimal effort.”

Several sellers mentioned that Opendoor’s inspection was very brief, which was positive for some people. However, some Opendoor reviewers complained that even these hasty inspections led to dramatically reduced offers. 

For example, this seller said, “The initial offer came in at $428,800 and required a video walkthrough to provide a final offer. ... The assessment lasted approximately five minutes, and no issues were found. The final offer came in at $388,800; from there, they subtracted an additional $32,733 for repairs.”

Also, Opendoor doesn’t always provide an itemized list of necessary repairs. As home seller Jesse Zappia of Charlotte, North Carolina, told us, “​​It's kind of a black box. Here's a repair cost number, and ours was low.” While this wasn’t a major issue for Jesse, the lack of transparency makes it hard to know if Opendoor’s repair estimate is fair.

Offerpad reviews

As with Opendoor, Offerpad reviews highlight how quickly and easily sellers were able to complete their transaction.

As a recent reviewer said, “The communication was stellar! Extremely friendly and kind team that guided me and never missed an email or a question I had. I felt completely supported and did not have one single issue with a seamless experience. I sold my home to them and they were very honest and zero surprises.”

However, like with Opendoor, some Offerpad customers complained about offers being dramatically lowered thanks to high repair estimates. And Offerpad didn't give all customers a detailed list of repairs, making it difficult to determine if its estimates were fair.

For example, this reviewer said, “They offer you a good price for your house, make you think that everything is good. They do an inspection and fill it with items that do not cost very much, like light bulb needs replaced or lock on bathroom door doesn't latch. They then tell me they need to take 62k off the purchase price for 'repairs' but do not offer an itemized list with prices for each item.”

Availability

Locations

Opendoor is active in 47 markets, while Offerpad covers 25. They’re both active in the following major iBuyer markets:

• Arizona: Phoenix
• Colorado: Colorado Springs, Denver, Fort Collins
• Florida: Orlando, Tampa
• Georgia: Atlanta
• Indiana: Indianapolis
• Kansas: Kansas City
• Missouri: St. Louis
• Nevada: Las Vegas
• North Carolina: Charlotte, Raleigh
• Ohio: Columbus
• South Carolina: Columbia
• Tennessee: Nashville
• Texas: Austin, Dallas, Houston, San Antonio

Purchase criteria

Offerpad purchase criteria

Offerpad generally only buys homes that are:

• In fairly good condition
• Built after 1950
• Single-family homes, including townhomes, condos, and homes in gated communities
• Valued under $1 million
• On a lot no bigger than 1 acre
• Under clear ownership
• Vacant on the close date

Offerpad also purchases homes in age-restricted communities, but the maximum purchase price is usually $350,000.

The company doesn’t buy properties that are mobile, manufactured, or prefabricated or that have significant foundation or structural issues.

Opendoor purchase criteria

Opendoor only buys homes that are:

• In good condition
• Built after 1930 (varies by area)
• Single-family homes or townhomes (condos and duplexes are eligible in some areas)
• Valued under $1.4 million (preferably $100,000–600,000)
• On a maximum 2-acre lot (1 or 1.5 acres in some areas)
• Under clear ownership
• Owner-occupied or vacant at closing

Opendoor also buys single-family homes in age-restricted and gated communities in certain areas. It can also buy homes with solar panels if the panels are owned outright.

Opendoor doesn't buy homes that:

• Are sold as a short sale or foreclosure
• Have unpermitted additions
• Are in flood zones
• Have significant foundation or structural issues
• Have septic systems or wells
• Are built with outdated materials
• Have damage from fires, floods, or other natural disasters

Bottom line: Know your options

Offerpad and Opendoor both deliver on the promise of a quick sale. However, their offers are harder to predict. Sometimes Opendoor offers more, sometimes Offerpad.

We recommend getting offers from both companies. Requesting offers is free, and there's no obligation to accept.

You can easily put the offers side by side and compare:

• Your options for the closing date
• Additional costs like deductions for repairs
• Perks like late checkout and free moves

If you really want to do your due diligence before accepting an offer, we also recommend talking to a real estate agent to find out your home’s fair market value.

FAQ about Opendoor and Offerpad

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Opendoor Competitors: The Best Companies for Competing Offers

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Opendoor Reviews: Fees, Repair costs, and Common Complaints

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The post Offerpad vs. Opendoor: Everything You Need to Know in 2023 appeared first on Semya-Moya.

What is HomeVestors?

How does HomeVestors work?

1. You contact your local office or complete a form on the company website.
2. A HomeVestors property specialist visits your house and answers questions.
3. HomeVestors sends a cash offer based on the current condition of the house.
4. You accept or reject the offer. If you accept, HomeVestors can close in as little as three weeks.

Who is HomeVestors best for?

• Are moving on a tight timeline
• Are facing foreclosure or other debt problems
• Need to sell an inherited home
• Don’t have time or money to make repairs

Pros and cons of selling to HomeVestors

How much does HomeVestors pay for houses?

HomeVestors reviews and complaints

Overall, customers give Homevestors a 4.4/5 rating across 1,351 reviews.

• The transaction speed
• The professional service
• The hassle-free selling process

• Very low offers
• Pressure to sell
• Constant, unwanted mailers and text messages

What customers liked about HomeVestors

What customers didn't like about HomeVestors

HomeVestors of America: Quick facts

HomeVestors locations

HomeVestors vs. top alternatives

1. Listing with a traditional agent
2. Selling to an iBuyer
3. Selling to another cash buyer

1. You get the most overall value by consulting an agent

2. An iBuyer could buy your home quickly for a higher sale price

3. You can compare offers from several cash buyers to get the best deal

FAQ about HomeVestors

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About Semya-Moya

The post HomeVestors Reviews: How It Works and What It Pays appeared first on Semya-Moya.

With the shortage of homes available for sale, now could be a great time to sell your house at a premium — but only if you have a plan for what to do next.

While homeowners have seen their property values rise 26% since 2020, the housing market remains incredibly challenging for buyers — many of whom have been forced to the sidelines because of high home prices, rising interest rates, and the lack of options available.

"Although sellers can currently demand a premium, which can be a huge benefit, many times that same seller will now need to turn around and buy a home," says Suzanne Seini, CEO and owner of Innovate Realty in Irvine, California.

"Sellers need to make sure they can find the right home in this market. On top of that, with interest rates rising, a seller may be looking at paying double the rate of their current mortgage."

Competing with other buyers for a house and taking on a new mortgage could take a bite out of your earnings. Selling now could also mean losing out on additional equity (your home's value, minus what you owe), since home prices are projected to keep climbing in 2023 — albeit at a lower rate than in 2022.

Despite the risks of selling now, some realtors caution that there's a downside to waiting. As realtor Cynthia Cummins puts it, "We truly ARE in a seller's market."

Our advice: If you're concerned about where the market is headed, talk to a few local realtors to get their opinion. Real estate is local, and some markets are more favorable for sellers right now than others. That said, here are a few factors to consider when deciding to sell your home now or wait.

» Find and compare top local agents, save thousands on commissions when you sell.

Reasons to sell your house now

» JUMP TO: Reasons to sell later | Tips for selling your house in 2023

You want to maximize your equity

In some markets, property values have fallen by as much as 15% since their peak in June 2022. But in others, home prices are up by as much as 20% year over year.

“If your local market is booming and prices have risen significantly in recent months, now may be a great time to list your home,” says Isabella Griffin, Founder and CEO of Eazy House Sale in Los Angeles.

"A common misconception is that prices are way down. That is actually not true, at least in my market here in the San Francisco Bay Area," says Jon Foster, a realtor and co-owner of Jon & Leslie Foster Real Estate Group.

However, he emphasizes that sellers need to prep their homes before listing: "Homes that look the nicest, with upgrades, new paint, new flooring, landscaping and other upgrades are selling for top dollar. Homes that are not prepped well and that have not been maintained are not getting as much attention from buyers."

"If you believe the market is still operating like it was in 2021 and early 2022, it may be time to adjust your expectations," says San Diego–based real estate investor Tim Gordon. "At this stage of the market," he warns, "there may not be a buyer for every seller."

That said, homes that are prepped and priced well can still receive multiple offers. A recent report from NAR found that homes sold in June 2023 received an average of 3.5 offers, with approximately 1 in 3 selling above list price. Says Griffin, “The best way to maximize your profit is to hire a real estate agent who can help you price and market your home for success."

» MORE: How to choose a realtor for selling

You're looking to downsize your lifestyle

Perhaps the best scenario for selling now is if you're downsizing or moving to a more affordable area — particularly if you have a significant amount of equity in your home.

"While many buyers may be on the sidelines due to higher mortgage interest rates and inflation," says Sean Gilliam of LoKation Real Estate, "there are also plenty of buyers that have cash or are strong borrowers that are actively looking for homes. Demand is such that homes are still selling above list price on average."

If you have enough equity to pay for your next home in cash, you're in a good position to avoid taking out a hefty mortgage while interest rates are on the rise.

Another benefit of downsizing? If home prices DO drop, the impact on your equity will be much lower with a less expensive property.

You're selling for personal reasons

Sometimes circumstances like a new job, family illness, or financial hardship don't leave you with much of a choice other than to move. In certain cases, you might have to sell your current house to qualify for a mortgage and afford the down payment on a new one.

The good news is, selling now — when home values are high and inventory is low — will likely net you a great price for your property.

"My advice to sellers is to go ahead and sell if you have a life event that's prompting it," says San Francisco–based realtor Cynthia Cummins.

"We're seeing competing offers and over-asking sales prices for houses here in the city, so long as they're positioned correctly — priced right, presented properly with staging, etc. Motivated buyers have adjusted to the fact that mortgage rates are higher and that isn't stopping them. The only thing that's stopping them is there's almost nothing to buy!"

Reasons to sell your house later

You don't want to miss out on appreciation

Some housing markets remain strong, with home values continuing to rise. Homeowners in these regions may want to wait to sell. "Home values tend to be resilient during recessions," advises realtor Sean Gilliam, "so sellers can expect their homes to continue to increase in value."

Corelogic also forecasts modest home price growth over 2023, but it suggests that the rise won't be even across the board. It warns that certain markets face a 50–75% risk of home prices declining in the next 12 months.

As Joel Efosa, real estate investor and CEO of Fire Cash Buyers, notes, “Forecasting the real estate market for 2023 is challenging.” 

To get a sense of where you stand as a home seller, talk to a real estate agent with a strong understanding of the local market. They can advise you on whether to sell now or wait until you've built up more equity.

If you're looking for a good real estate agent near you, Clever is a good place to start. Clever's free service connects sellers with top local agents from well-known brokerages like Century 21 and RE/MAX. Sellers get pre-negotiated listing fees of just 1.5% — about half the standard commission rate.

Interview as many agents as you'd like until you find the right fit, or walk away at any time with no obligation.

» MORE: Find and compare top agents near you

Selling costs could eat your profit

Most homeowners need to be in their house for a couple of years before the profits from selling it can offset the costs.

When you first purchase a home, most of the mortgage payments go toward interest, so it can take some time to start building equity.

Add to that the actual money it costs to sell a home. Selling costs can be approximately 10–15% of the sale price, and include things like:

• Real estate agent commissions (6%)
• Repairs (varies, paid for out of pocket)
• Seller closing costs (1–3%)
• Closing costs on your next home (3–5%)

Imagine you paid $400,000 for a house. With selling costs taking 10% off the top, you'd need to either sell for $440,000 or have already paid off $40,000 of the mortgage — just to break even.

So if you’ve bought or refinanced your home in the last couple of years, you may want to wait to sell, especially if you have locked in a favorable mortgage rate.

You're not sure where you'll live next

If you bought or refinanced while interest rates were low, and you don't have the equity or assets to purchase a new home in cash, selling your current home may mean exchanging your mortgage for a pricier one.

In 2023, mortgage rates have been 6.12–7.09% for a 30-year, fixed-rate mortgage. For homeowners who secured a 2–3% mortgage rate in 2021, trading that low mortgage for a higher one in 2023 can be costly. 

Let's say you bought your home in 2021 for the asking price of $400,000. Buying that same home today would cost you an extra $734 per month just in interest.

Monthly mortgage on a $413,950 home: June 2021 vs. June 2023

You're trying to time the market

"Trying to time the market is a risky game to play," warns realtor Andrew Iremonger. If you don't need to sell, the mental and monetary costs of trying to time the market may not be worth the gamble.

While it makes sense to want to cash in while the market is hot, you'll also need to consider where you'll live after you sell. Today's home shoppers face:

• Lots of competition over a low supply of houses
• The highest mortgage rates in years
• Paying more for less house, with slower appreciation
• Renting until the housing market cools off (with no return or equity)

You haven't completed home renovations

Unfinished home renovations can deter potential home buyers who may not see your home's potential.

“Completing unfinished remodeling projects can pay off. Painting kitchen cabinets or renovating a bathroom sink can increase the value of your property, leading to a higher selling price,” states Leigh McAlpin, director of business development at Classic Architectural Group. “But don’t do a full remodel to sell your home because your tastes may not match the buyer’s.”

If your home needs major repairs like an HVAC or roof replacement, Leigh suggests financing and finishing these projects before selling. “Buyers want a property in good shape, not a new kitchen or bath.”

Tips for selling your home in 2023

Reasons why your home isn’t selling in a hot market

Pricing

“Even in a competitive market, pricing can make or break a sale,” states Maham Khan, head of marketing at Mybrokerone. “Potential buyers may be discouraged by the cost and choose a more affordable alternative.”

Listing too high can prevent buyers from looking at your property, and listing too low can cause you to lose out on potential profit. Find an experienced local real estate agent who knows the comps in your area to help you determine the right price for your property in the current market. 

Marketing

Jennifer Spinelli, real estate professional, interior designer, and founder and CEO of Watson Buys, recommends reviewing your online marketing to see if it’s leading to fewer buyers. “Review your online listing. Look at the photos, description, and other details. You may need to update those to better showcase your home.”

Presentation

Buyers in 2023 are more selective. The staging and appearance of your home can make a difference, especially if comparable homes are on the market that have more updates than yours. “Presentation is important,” states Maham Khan, “Lack of curb appeal or outmoded interiors may turn off buyers.”

Location

Even in a hot market, buyers might not be interested in your property if it isn’t in their ideal location. In this situation, a local real estate agent could help you position your home better in the market, like by making a strategic pricing adjustment.

Insurance

"There's a huge wrinkle with properties in California (and in other parts of the country) due to the whole insurance crisis," says Cummins.

"State Farm, for example, isn't writing any new homeowners insurance policies in the whole state of California! And most insurers are looking for any excuse to either drop existing policies or not issue new ones. What this means for sellers is that they may not be able to sell if their buyer can't get insurance coverage.

"So my strong advice for anyone who is contemplating selling anytime soon would be to check with their insurance broker to discreetly inquire about the sorts of upgrades their insurer would require if a new owner was trying to get a policy on the house."

FAQ about selling a house in 2023

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The post Should I Sell My House Now? 8 Reasons to Sell (Or Wait) in 2023 appeared first on Semya-Moya.

Opendoor is an iBuyer, which means it makes all-cash offers on houses and provides flexible closing timelines. Opendoor often pays less than sellers would get on the open market, and it charges a 5% service fee.

Compared to other iBuyers, Opendoor has reasonable service fees and is more widely available. But competitors like Offerpad provide more flexibility on closing dates and repairs. Like all iBuyers, Opendoor is making lower offers on homes than it used to because of the slowing housing market

Opendoor is a great option for sellers who need to sell quickly to a proven buyer. But for sellers who prioritize getting the highest dollar amount for their home — and who have the time to wait for a higher offer — selling with a full-service real estate agent might be a better choice.

Is Opendoor worth it?

Opendoor is definitely worth looking into if you need to sell your home quickly with minimal hassle.

That said, it's unlikely that Opendoor will pay you as much as you'd get on the open market. Like most iBuyers, Opendoor makes lower offers than market value. It also charges a 5% service fee, which will limit your overall profits.

Pros and cons of selling to Opendoor

How to evaluate Opendoor's offer

Opendoor's offers are valid for seven days. If you're considering an Opendoor offer, we strongly recommend using that time to weigh your options. 

If other iBuyers are in your area, get offers from them to compare to Opendoor's. You can also consult a local real estate agent who can perform a comparative market analysis on your home. This analysis gives you an idea of how much your home might get on the open market, so you can decide the best way to sell.

Does Opendoor pay a fair price?

Opendoor pays less than what you'd get on the open market with a real estate agent. The company used to make competitive offers on homes, but its offers have declined since 2022. According to real estate analyst Mike DelPrete, one home’s initial cash offer of $538,300 was nearly $50,000 lower than Zillow's estimate of the home's worth.

Plus, Opendoor often significantly lowers its initial cash offer after it inspects a home and determines repair costs.

For example, one Reddit user said this about getting an offer from Opendoor: “Initial offer $750k. Did video walkthrough and physical walkthrough. Final offer $640k, and $30k in repairs on top of that.” This example is one of many similar experiences we found.

Does Opendoor negotiate?

Opendoor typically doesn't negotiate its offers or fees. As Jesse Zappia, a homeowner who sold to Opendoor, told us, the offer “was take it or leave it. I wasn't given any opportunity to negotiate.”

If you don't agree with Opendoor’s assessment or you think it overlooked something, you can request a second evaluation and submit evidence to support a higher offer. However, it’s unlikely Opendoor will revise its offer by much unless it missed something important during its initial evaluation.

Hiring a realtor may help you negotiate with Opendoor or prevent a deal from falling through.

For example, one seller accepted an offer from Opendoor and hired Rebecca Richards, a realtor with EXIT Realty Garden Gate Team in White House, Tennessee. Richards says, “We signed off that day, but then the next day, after they had their truck halfway loaded and already had an accepted offer on a property up north ... , we got the word [from Opendoor] that now the deal is dead.”

Fortunately, Richards was able to help her client by offering Opendoor a lower purchase price, which Opendoor accepted.

» LEARN: Tips for negotiating with Opendoor

How much are Opendoor's fees?

Opendoor charges three types of fees:

1. Service fee: 5%
2. Repair costs: 1–2% (these may or may not be required)
3. Closing costs: 1–3% (these are typical seller closing costs)

Opendoor doesn't give you the option to use your own contractor for repairs, so you can't control the costs of repairs.

Opendoor’s fees add up to 10% of the sale price. Closing costs and repair costs vary by sale.

Homeowners pay 11.2% on average to sell their home, according to our research and analysis of real estate industry data. Commissions for the brokers and agents, repairs, and closing costs make up the majority of the costs.

Opendoor’s 5% service fee is lower than the 6% its main competitor, Offerpad, charges. Offerpad also charges a 1% cancellation fee, while Opendoor doesn’t charge a fee if you cancel.

Does Opendoor pay closing costs?

No, you'll still be responsible for closing costs that are on par with a traditional sale.

You'll be expected to cover expenses such as title insurance, escrow costs, recording fees, notarization, transfer taxes, and more. In total, your closing costs will add up to 1–3% of the sales price.

» MORE: Opendoor vs. Offerpad: Which is better?

How quickly will I sell my home with Opendoor?

Opendoor can make an offer on your home in less than 24 hours, and it can close in as few as 15 days. That's much faster than the average time to close on a traditional sale, which is 83 days as of 44958.

In other words, Opendoor's speed is a major advantage over the traditional home-selling model.

The benefit of Opendoor’s quick closing times isn't just speed for speed’s sake. In real estate, time really is money.

The time between reaching an agreement and closing a sale is often a difficult period when appraisals and contingencies can jeopardize a traditional sale. And as you wait to close, you still have to pay carrying costs — like your mortgage, insurance, and maintenance expenses.

Should you sell to Opendoor?

There's no universal answer — it depends on your situation and goals as a home seller.

Opendoor offers speed, simplicity, and convenience. These factors are invaluable to some sellers, especially since selling a home is such a high-stakes, complex process.

On the other hand, you may get more money for your home if you list it on the open market with a real estate agent.

A Clever agent can run the numbers for you, making it easier to determine which way to sell is best for you.

FAQ about Opendoor

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Your house's location, age, and potential for income or profit will affect how much an investor will pay for your house.

The type of investor also matters. House flippers generally aim to pay 70% of a home's estimated after-repair value, minus renovation costs, while rental property investors want a deal that will give them monthly income — ideally 2% of the purchase price.

Selling to an investor may make financial sense if you're behind on payments or your home needs major repairs. It can also be a convenient way to sell an inherited property. Investors generally purchase homes in as-is condition and close quickly for cash.

That said, investors tend to buy low in order to sell or rent high. You may make more money with an alternative option, such as selling to an iBuyer or even listing on the open market.

Our advice: Compare multiple offers before selling to an investor

If you need to sell quickly and want a fair price, Clever Offers is a good starting point. With Clever's free service, you can compare cash offers from local and national cash buyers against your home's fair market value.

A licensed agent from our team will ask you some questions about your property, gather offers on your behalf, and walk you through each one.

We can also connect you to a top listing agent in your area who can give you a realistic idea of how quickly your home could sell in your market — and for how much.

There's no pressure to accept an offer or work with a Clever partner agent. Clever Offers is simply a way to compare your options and make an informed decision. If you do decide to list your home, you’ll get the added benefit of saving on realtor commission — $7,000 on average.

Contact our concierge team to ask questions or get cash offers right away.

What do investors look for when buying a house?

The majority of investors who buy homes tend to focus on low-price homes because these homes offer more potential for profit.[3] While there are no hard and fast rules that investors use to decide how much they'll pay for a house, there are some principles that many investors apply when they're putting together an offer.

Two main types of investors buy houses, and each have slightly different goals when sizing up a house:

• House flippers buy distressed homes, fix them up, and then resell them. They make offers based on a property’s anticipated repair costs weighed against its projected future worth.
• Rental property owners buy properties with the goal of having a steady monthly income stream. They might pay closer to fair market value, but it depends on the property's potential for rental income.

Of course, other factors play a part in an investor's valuation of your home, including:

• Age
• Location
• Overall condition
• Profit-earning potential

How house flippers price a home

Generally, house flippers won't pay more than 70% of a home’s after-repair value, minus repair costs. This is because a house flipper's goal is to rehab the property and sell it for significantly more than they paid.

Say that a house flipper identifies a house in an up-and-coming neighborhood that he believes will be worth $300,000 once it has been renovated. But, the house currently has a lot of problems and will need approximately $50,000 of work before it's ready to go on the market.

Using the 70% rule, the flipper would decide that he'll pay $160,000, at most, for the house ($300,000 x 0.70 – $50,000 = $160,000).

This still gives the flipper enough room to spend some money upfront on repairs and upgrades.

How rental property investors price a home

The rule that some rental property investors use to price a home is the 2% rule. This just means that the monthly income should be greater than or equal to 2% of the purchase price.[4]

Rental property investors buy houses with the goal of renting them out and earning money through the monthly rental fees that they'll charge their tenants.

Because landlords are making a long-term investment and they'll have ongoing costs like property taxes, utilities, and maintenance, it's important to them that the rental income from the property covers all of these costs and still leaves them with a net profit.

If an investor knows that a house could be rented out for $2,000 each month, then it makes sense for them to offer approximately $100,000 for the house ($2,000 is 2% of $100,000).

If the numbers pencil out, a rental property investor might pay more for a house than a flipper because it's a long-term investment. The difference is that house flippers generally buy homes that are more distressed because they plan on forcing appreciation quickly through major upgrades.

Is it worth selling your house to an investor?

Selling your home to an investor may make sense if you need to sell quickly or if your home is in poor condition. Cash buyers allow you to close quickly without worrying about repairs or closing costs.

Perhaps you are going through a contentious divorce and need to offload the marital home, or maybe you've inherited a home that needs extensive, urgent repairs. If you’re feeling pressured by time, a cash buyer can be a strong option.

Selling to an investor may not be the best solution if you live in a tight real estate market where inventory is low. In this case, you will likely be able to earn a better return by selling your home with a real estate agent.

While this can take longer (a couple of months, as opposed to a couple of weeks), you stand to earn quite a bit more than you would in a cash-sale situation.

With the current national median home value of $436,800, a cash buyer price might offer around $300,000 (just under 70% of market value). However, a private buyer offering 95% of market value would come in at $100,000 more, leaving way more of a profit margin for the seller at closing.

If you’re looking to sell at market value but time is also of the essence, you might consider matching with a local seller’s agent who has a proven track record of fast sales. Depending on local market conditions, a realtor can help you look at all of the options without an obligation to work with them moving forward. Explore free agent matching services in your area, like Clever.

✅ Benefits of selling your house to an investors You can sell in any condition. Investors are more likely to buy a house as is, even if it needs extensive repairs. You can close quickly. Experienced investors can usually close on a deal very quickly — sometimes in as little as two weeks. You can avoid delays. Some investors can pay cash, which eliminates the holdups that can come with financing.

❌ Downsides of selling your house to an investor You have less leverage. Investors don't have much room for negotiation. Because the investor is buying the house to make a profit, the math needs to make sense for them. You may encounter more aggressive buyer negotiation. Investors are experienced negotiators, so they're probably better at negotiating terms than the average home seller is. You risk losing money. There's a risk of getting ripped off. An investor might know that your house is worth way more than they're offering, but they'll try to pull a fast one by offering you cash and the opportunity to close quickly.

How do I find an investor to sell my house to?

If you've decided that you want to sell your house to an investor, there are a few ways that you can find one:

Use Clever Offers

Clever Offers is a free service that helps you quickly compare offers from local real estate investors and national cash buyers (like HomeVestors and We Buy Houses).

You review offers with an experienced real estate agent who can help you interpret the fine print. You also get a home value report so you can see how well your offers match up to what you could realistically net selling under a tight deadline on the open market.

If you decide you want to list instead, you get the added benefit of a discounted commission rate. Plus, you can always fall back on the cash offer. Homeowners who sell with Clever save an average of $7,000 in listing fees. Compare cash offers.

Post on the BiggerPockets.com forum

BiggerPockets is an online community for real estate investors. If you express your interest in selling to an investor and specify what town or city you're in, there's a good chance that you'll get connected with someone!

Respond to "we buy houses" ads in your neighborhood

Companies that buy houses for cash make a profit by buying distressed properties, fixing them up, and then reselling them. These companies may be centralized, run by individual franchisees, or made up of a network of cash buyers. Some "we buy houses" companies are legit, but others are a scam. If you work with one of these companies, never pay any money upfront.

Contact an auctioneer

Holding a real estate auction for your house could bring investors to your front door to bid on the property. Working with an auctioneer could help you to find investors who will make competitive bids on your house.

How to negotiate with an investor

Once you find an investor who's interested in buying your house, you'll want to negotiate to get the best possible price.

Investors typically make their best offer up front because they've already worked out what it'll cost them to own your house. But you can still use some negotiation tactics:

• Provide utility bills and property tax records. Rental property investors will consider monthly expenses when determining how much to offer. If they over-estimate these costs, you can prove that your home is actually more affordable than they think by providing them with utility statements and property tax bills.
• Show the investor data on similar properties that have sold recently. Any good investor will already be looking at local comps to determine a price point, but pulling them up yourself helps you to know if the offer is fair and shows the investor that you're aware of the true value of your home.
• Ask the investor to cover some of your closing costs. If the investor won't raise their offer at all, try asking them to cover some of your closing costs, like title recording fees and escrow charges. This will raise your net profit from the sale.

Alternatives to selling to an investor

If you're looking for a quick, as-is sale, some alternatives might net you more money than selling to an investor.

Sell with the help of a real estate agent

The reality is that selling your house on the open market might not take as long as you think, especially if you hire an agent with a plan.

Realtors can often leverage their personal network of cash buyers and local investors to sell a home quickly and at a fair price.

They can also assist sellers through less-conventional options like selling to investors or going through a local real estate auction. Even if you're selling your home as is, a real estate agent can market it as an investment opportunity for the right buyer.

According to Austin-based realtor JC Young, if you buy with cash you can close just a couple of days after receiving a title report. If you've gone through the pre-approval and underwriting process, you can close 14–17 days after signing the contract.

👋 Need a great agent on your side?

Connect with top local agents who can help you sell on time and for top dollar. You'll pay just a 1.5% listing fee (half the typical rate), helping you save thousands!

View Agents

Sell to an iBuyer

Another option is to sell your house to an iBuyer like Opendoor. iBuyers make cash offers and can close quickly — sometimes in as little as two weeks.

All you have to do to sell to an iBuyer is complete an online form to request an offer. If your home qualifies and you accept the offer, the iBuyer takes care of the repairs and prep work after they buy the house from you.

The only catch is that iBuyers typically don't buy distressed homes, so this might not be an option if your house needs more than minor repairs and upgrades.

FAQ

How much will an investor pay for my house?

Investors typically pay no more than 70% of a home’s fair market value (after repairs, and minus repair costs). In exchange for a low price, they can often pay the seller in cash and close very quickly — in some cases, in as little as a week.

Do investors pay fair market value?

Investors pay less than a home’s fair market value. Because they purchase properties in as-is condition, they need to accommodate for repair costs and still make a profit when they relist the home.

Can an investor make me a cash offer?

Yes, investors frequently make cash offers on homes. Though they offer less than the home’s fair market value, a cash offer will speed up the closing process, which is often slowed down by financing hang-ups.

Will an investor buy a house in foreclosure?

Yes, many investors will buy a home in foreclosure. Cash offers negate the need for a mortgage, making the transaction much easier than if a buyer were interested in financing the sale.

Related articles

7 Best Companies to Sell Your House Fast

Options for selling your house fast: 1. Find a cash buyer. 2. Sell to an iBuyer. 3. List your home on the open market. 4. Use a home trade-in service to buy before you sell.

Selling a House As Is: How Much Profit Do You Lose?

Selling a home "as is" can help you avoid expensive repairs and contingencies — but it could still cost you a lot of money (if you do it wrong). We break down everything you need to know here.

How to Sell Your House For Sale by Owner

Everything you need to know to sell your house by owner, including marketing, pricing, and state specific paperwork.

Article Sources

[1] Oregon Public Broadcasting – "Zillow Wants to Buy Your Home for Cash (And a Fee)". Accessed Nov. 1, 2023.

[2] Zillow – "What Is a Zestimate?". Accessed Nov. 18, 2021.

[3] CoreLogic – "Special Report: Investor Home Buying".

[4] The Book on Rental Property Investing, Brandon Turner – "". Pages 124.

The post How Much Will an Investor Pay for My House? appeared first on Semya-Moya.

]]> https://semya-moya.ru/real-estate-blog/we-buy-houses-review/ Thu, 15 Jun 2023 03:34:18 +0000 https://semya-moya.ru/we-buy-houses-review-article/ See what it's like to sell your house to WeBuyHouses.com, and find out what customers are saying about the national cash buyer.

The post We Buy Houses Reviews: How Much It Pays and Best Alternatives appeared first on Semya-Moya.

]]> Is We Buy Houses right for me? | Pros and cons | Customer reviews | How it works | Locations | Alternatives | FAQ

What is We Buy Houses?

We Buy Houses is a national cash buyer brand (sometimes called a house-flipping company) with offices in 49 states.

When you submit your information to We Buy Houses, the company will connect you with one of its licensed real estate investors in your area. The investor will then make a fast, all-cash offer to purchase your home as is — no repairs needed. If you accept the offer, you can close in as little as seven days.

Offers are significantly lower than what your home might net on the open market. As a general rule, cash investors only pay about 70% of the expected after-repair value (AVR) of a home, minus the estimated cost of repairs.

To make sure you get a fair price for your house, you should compare offers from multiple cash buyers before signing a contract. Compare cash offers from top local cash buyers now!

Who is We Buy Houses best for?

Selling to We Buy Houses may be a good option if:

• You need to sell very quickly
• You're facing a difficult situation like foreclosure
• Your home is in poor condition and you don't have time or money for repairs

We Buy Houses provides fast, all-cash offers and can close in as little as seven days. Most homes spend about 67 days on the market, so a company like this can be a lifesaver if you need to sell quickly.

The downside is that We Buy Houses likely won't pay as much for your home as you'd get on the market. If you're in a pinch, it might still be the right choice for you. But we recommend contacting several cash buyer companies to compare offers before you accept one. This way, you can ensure you get the best value for your home.

Fill out the form below to see how much cash home buyers will offer for your house. We'll match you with an experienced local agent, who will bring you offers from trustworthy cash home buyers in your area. You'll also get a free home valuation, so you can decide whether selling on the open market is a better fit for your situation.

Get fair offers from cash home buyers now!

Compare offers from top cash buyers, plus get an expert realtor's opinion on what your house is worth.

Get My Cash Offers!

Pros and cons of using We Buy Houses

✅ Pros You get an offer in 24–48 hours and close quickly. You don't need to make repairs or prep your house for listing. Investors are vetted by We Buy Houses before obtaining a license. You can get an offer for homes that are vacant, in poor condition, facing foreclosure, or occupied by bad tenants.

❌ Cons The company pays a lot less than what you’d get on the open market. There's little to no negotiation on price since it's an investment opportunity for the buyer. Individual We Buy Houses investors have different strategies, so offers can vary. Unlike other companies, We Buy Houses licenses are exclusive, so only one We Buy Houses office will be available in your area. If you want to compare offers, you'll have to approach another company. Service quality can vary between offices.

Show more

We Buy Houses reviews

We Buy Houses reviews are mostly positive. Because We Buy Houses is a franchise, service quality may vary by location.

	Average rating	Total reviews
Weighted average	4.7	418
Google	4.7	403
Yelp	3.6	15
Facebook

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Common themes from positive reviews are:

• Satisfaction with the end-to-end service that We Buy Houses offers
• Clear communication between the investor and the home seller
• A fast, easy closing process

While we didn’t find many negative reviews, at least one noted that the repairs We Buy Houses performed were substandard and the buyer eventually had to do their own repairs.

How does We Buy Houses work?

Each local We Buy Houses office is independently owned and operated by a We Buy Houses real estate investor. These investors are licensed with an exclusive right to use We Buy Houses marketing materials and tools in their county or city. They're vetted based on experience and local reputation. Investors who fail to meet company expectations can have their license revoked.

To get an offer from a local We Buy Houses investor:

1. Call We Buy Houses, or go to the company's main website to submit a form.
2. Provide information about your house, including:
   • The ZIP code
   • The approximate asking price
   • The reason for selling
   • The type of property (e.g., single-family, multi-family)
   • Whether or not you're working with a listing agent
3. A local We Buy Houses investor will follow up with you to get more details. They'll schedule a time to visit your property for an inspection.
4. Within 24–48 hours of the inspection, We Buy Houses will present you with an all-cash offer. This no-obligation, as-is offer includes the investor's anticipated repair costs. There are no fees or closing costs.
5. If you accept the offer, you can work with the We Buy Houses investor to choose a closing date and move forward with the sale.

The We Buy Houses real estate investor may claim their offer is what your house could get on the open market, but take that with a grain of salt. Their estimates of how much you’ll make from selling on the open market may just be a worst-case scenario to make We Buy Houses’ offer look better than it is.

If you're set on selling to a cash buyer, compare offers from multiple companies to ensure you get the best deal.

What types of properties does We Buy Houses purchase?

Like other "we buy houses" companies, WeBuyHouses.com buys distressed properties, including:

• Inherited houses
• Houses facing foreclosure
• Houses in need of extensive repairs
• Rental properties with bad tenants

How much does We Buy Houses pay?

We Buy Houses pays significantly less for homes than what you’d get on the open market. Its cash buyers typically offer 50–70% of your home's after-repair value, meaning you could be leaving a lot of cash on the table. This can be worth it for sellers who need to close quickly and don't want to pay for repairs.

But if you want a fair price for your home, you may need to look elsewhere.

We strongly recommend talking to a real estate agent before agreeing to use any cash buyer, including We Buy Houses. It’s free to talk to an agent, and they can help you assess all your options so you get the best deal for your home.

Clever can match you with a top local real estate agent who will:

• Help you compare cash offers from multiple local investors
• Show you what your house could be worth on the open market
• Estimate a realistic selling timeline for both scenarios

If you choose to work with a Clever Partner Agent to sell your home, you’ll pay a discounted listing fee of just 1.5% — half the rate realtors usually charge.

Connect with a top realtor to compare cash offers and get an honest assessment of your home value!

Locations

We Buy Houses has over 2,700 offices across 49 states.[5] The brand continues to grow as new or existing investors can purchase a license in any territory that isn't currently under a license.

Alternatives to selling to We Buy Houses

If you need to sell fast, We Buy Houses isn’t your only option. Here are three main alternatives you may want to consider:

• Another cash buyer
• iBuyers
• A traditional realtor

We Buy Houses vs. another cash buyer

Company	Avg. time to offer	Avg. closing time
We Buy Houses	1–7 days	1–4 weeks
We Buy Ugly Houses	24–48 hours	As little as 3 weeks
HomeVestors	24–48 hours	As little as 3 weeks
Sundae Real Estate	4 days	10–60 days, flexible
MarketPro Homebuyers	Offers can be made the same day	As little as 7 days
I Buy Houses	Varies	Varies

Show more

We Buy Houses is similar to many other cash buyers, such as HomeVestors, Sundae Real Estate, and We Buy Ugly Houses. We Buy Houses will make an offer within 1–7 days and has a closing time of 1–4 weeks, which is about average for a cash buyer.

That speed is the main benefit of these companies. Plus, you don’t have to pay for repairs.

But the downside is that they will offer a lot less for your home than what you could get on the open market. All of these companies, including We Buy Houses, should only be considered as a last resort if you need to sell your house right away and are in a difficult situation, such as foreclosure.

Even then, we strongly recommend contacting a realtor or iBuyer first. Selling with an agent will likely yield the highest offer. But either one will likely get you a much better offer and many will be able to sell your house within a tight timeframe. If you do decide that a cash buyer is your only option, at the very least you should compare offers from multiple companies to make sure you’re getting the best deal.

» MORE: The best companies that buy houses for cash

We Buy Houses vs. iBuyers

iBuyers are similar to cash buyers in that they’ll make you an all-cash offer and close quickly, typically within as little as two weeks. While iBuyers still offer less than fair market value, the offers are nonetheless better than what you’ll get from a cash buyer like We Buy Houses. If you’re looking to sell quickly, they’re a better option.

However, iBuyers have drawbacks. Unlike We Buy Houses, they have strict criteria for which houses they’ll buy. Typically, you’ll need a house that isn’t in need of any major repairs. iBuyers also tend to only operate in major metropolitan areas, so if you live in a smaller market they may not be an option for you.

If you choose to go with an iBuyer, compare your options. Buying criteria can vary considerably from one iBuyer to the next, as can fees and the amount of money you’ll make on the sale.

» MORE: The best iBuyer companies ranked and reviewed

We Buy Houses vs. a traditional realtor

We Buy Houses doesn't hide the fact that you'll probably make more money selling your house with the help of a realtor.

The only advantages We Buy Houses offers over a traditional realtor is that you’ll get an all-cash offer with no contingencies and you can close on your own timeline. They'll also purchase your house as-is and do all of the repairs themselves.

As good as that sounds, just remember that unless you're in a desperate situation, selling as is on the open market is usually the better option. You’re almost guaranteed to make significantly more selling your house with a realtor than you are with We Buy Houses.

Even if you think We Buy Houses is the best choice, there’s no risk in talking to a real estate agent first. Clever can connect you with top local real estate agents who can give you an estimate of what your house will fetch on the open market and a realistic timeline for selling. You’re under no obligation to sign and you’ll have the information you need to make the decision that is best for you.

👋 Clever can help you sell fast and for top dollar!

Before selling your home to an investor or flipper for cash, it pays to talk to a real estate agent about your options.

Our licensed concierge team can connect you with top-rated agents who know how fast homes are selling in your area — and how to find a buyer quickly while earning the most money from your sale.

Learn More

FAQ about We Buy Houses reviews

Are companies that offer cash to buy houses legitimate?

Cash buyers are often legitimate businesses, although they'll pay a lot less for your house than you'd get on the open market — typically 55–70% of your home’s value after repairs. Before working with a company, vet them by researching them online and reading customer reviews. If you want to avoid leaving a lot of money on the table, your best option is to find a real estate agent who can adjust their approach based on how quickly you need to sell.

Is We Buy Houses a rip-off?

We Buy Houses is a legitimate cash buyer with licensed real estate investors in all 50 states. Like any cash buyer, We Buy Houses will make a cash offer on your home in its current condition. In exchange for a swift, all-cash closing, you should expect an offer that's up to only 70% of your home's fair market value.

How much does We Buy Houses pay?

Cash buyers pay substantially less than what your house might fetch on the open market, generally no more than 70% of what the property is worth. If your home needs significant repairs and you want to sell quickly, you may find a cash offer appealing. But you could get a fairer price while still selling quickly with one of the top alternatives to We Buy Houses.

Can We Buy Houses buy a home before foreclosure?

If you're facing foreclosure, We Buy Houses can purchase your home before the foreclosure has been finalized. We Buy Houses might purchase your home for less than what's owed on the mortgage (known as a "short sale"), but your mortgage lender will have to agree to the purchase.

Who owns We Buy Houses?

Each franchise of the company is individually owned and operated by a local investor, whom the company vets and licenses. The CEO of the company is Jeremy Brandt, who owns and operates several national cash-buyer real estate companies.

What's the fastest way to sell a house?

You can sell a home quickly by working with a cash buyer, an iBuyer, or a real estate agent with experience selling homes as is.

Methodology

To create this review, our research team spent over a hundred hours collecting information and data on We Buy Houses and other similar companies. We analyzed We Buy Houses’ service offerings and business models, and how they compare to the competition. Our team read through hundreds of online reviews to understand some of the most common complaints and issues real customers have with the service. We update this review regularly to ensure you can make the most informed decision about your real estate needs.

Article Sources

[1] Oregon Public Broadcasting – "Zillow Wants to Buy Your Home for Cash (And a Fee)". Accessed Nov. 1, 2023.

[2] Zillow – "What Is a Zestimate?". Accessed Nov. 18, 2021.

[3] CoreLogic – "Special Report: Investor Home Buying".

[4] The Book on Rental Property Investing, Brandon Turner – "". Pages 124.

[5] WeBuyHouses.com – "We Buy Houses Offices".

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An iBuyer is a real estate company that makes near-instant offers on houses. Learn more about how selling your home to an iBuyer works, and how it compares to a traditional sale.

Discount Real Estate Brokers: How to Find a Top Realtor for Less

Working with a local discount real estate broker can put thousands of dollars back in your pocket when you buy or sell a house. Here's how to find them!

The post We Buy Houses Reviews: How Much It Pays and Best Alternatives appeared first on Semya-Moya.

]]> https://semya-moya.ru/real-estate-blog/we-buy-houses-ripoff/ Wed, 14 Jun 2023 08:20:52 +0000 https://semya-moya.ru/we-buy-houses-ripoff/ We buy houses companies can sound like a rip-off or a scam — but it really depends on how you look at it. Learn the truth about "we buy houses" companies, and see what actual customers are saying.

The post Are 'We Buy Houses' Companies a Rip-Off? Here's What Actual Customers Are Saying appeared first on Semya-Moya.

]]> Are 'we buy houses' companies a rip-off? | Types of scams | When a cash offer might be a good deal | Alternatives | FAQ

💡 Key takeaways

• "We buy houses" companies aren't necessarily a rip-off — but they do make money by buying low and selling high.
• For sellers with hard-to-sell properties, an offer from a "we buy houses" company might be a good option.
• Cash-buying scams do exist, so look out for offers that come out of the blue from individuals or entities whose identity you can't verify.

You may have seen "We'll buy your house for cash!" advertised on a billboard or postcard. The investors behind "we buy houses" companies promise an all-cash offer on your home and a fast closing process. But is the promise legit?

If you need fast cash or can no longer afford to maintain a property, selling to a "we buy houses" company might actually be a good deal.

"We buy houses" companies generally purchase distressed properties at a bargain price. In many cases, the cash buyer will cover all or most of the closing costs and can close the deal within 7–14 days.

Just keep in mind that an investor's ultimate goal is profit, so they're never going to offer you what they think your house could actually be worth.

Be sure to compare any offer against other options before accepting it — including listing with an agent. Good realtors adapt their marketing strategies to sell your home quickly and can usually get you way more than a cash buyer would.

A hassle-free way to compare your options

With Clever Offers, you can compare up to 10 competitive offers from local, regional, and national cash buyers — with no added fees or commissions.

You'll get a professional home valuation to help you make an informed decision and a dedicated point of contact to help you navigate the offer process. Simply tell us a bit about your home, and we'll do everything we can to ensure you get the best possible offers.

Clever Offers is free, and there’s no obligation to move forward.

Compare Cash Offers

Are 'we buy houses' companies a rip-off?

Some people who've worked with "we buy houses" companies complain that they're a rip-off or a scam — but it really depends on how you look at it.

If you're looking to get top dollar for your home, you're likely not going to get it from a "we buy houses" company. In a situation where you've fallen behind on your mortgage payments or can't afford the upkeep on a property, though, a fast cash offer might be your best option.

Businesses that advertise buying houses for cash aim to buy cheap properties that need significant repairs so that they can flip them for a profit.

As a general rule, they won't pay more than 70% of the home's expected after-repair value. If a home could be worth $140,000 on the real estate market after an $8,000 repair, an investor might try to offer $70,000–90,000.

So while selling your house to a cash buyer might not be a scam by itself, it could feel like a rip-off if you have better options on the table that could net you more money.

Important: You're never obligated to accept an offer. If any buyer tries to rush you, pressure you, or make you feel desperate to take an offer you're not comfortable with, it's a sign to walk away.

Why would you sell to a cash buyer?

• Speed: Cash buyers can close in as little as two weeks. In a traditional sale, it takes 25 days, on average, to sell a house and another 30–45 days to close.
• Buyers might not be able to get financing: Not only is an extremely distressed property expensive to fix up, it could be difficult to get financing for. If a property is in very poor condition, many lenders won't agree to finance a mortgage on it.

⚡️ Compare cash offers to your home's ACTUAL value with Clever Offers.

Who are 'we buy houses' companies good for?

In a competitive market, selling to a cash buyer is more of a last resort than a go-to choice for home sellers. But there are some scenarios where a "we buy houses" company may be a good option:

Good for	Bad for
Sellers who are facing foreclosure and/or have other debt problems.	Sellers whose homes only need minimal prep and repairs before listing.
Sellers with distressed properties that need significant repairs.	Sellers in hot markets where houses easily sell as is.
Sellers who have inherited a property and don't want to put any money into fixing it up and selling.	Sellers who have a house that's already in good condition — the best value will be on the open market.

Show more

'We buy houses' scams

Despite the fact that there are lots of legitimate cash buyers out there, scams do exist.

As a home seller, there are a few common cash buying scams that you should be aware of:

• Email phishing: Someone sends an email to you with an all-cash offer and requests more information, like where to wire money. In the end, this information is used to steal from you.
• Wholesaling: Someone puts your house under contract, then resells the contract to an actual buyer. This is technically legal, but it can be misleading for the homeseller if the wholesaler doesn't explain who the real buyer is, or if they include a clause in fine print that allows them to walk away if they can't find a buyer.
• Up-front fees: The cash buyer requests that you pay a fee or put down a deposit before they proceed with buying your home. You should never have to pay anything upfront, so don't! In all likelihood, the buyer intends to keep your payment and then cancel the deal.
• Equity skimming: A more elaborate scam in which the investor buys a property from a distressed homeowner, then promises to let them buy it back when they're able. Instead, the investor refinances the home and takes out all of the equity.
• Foreclosure relief: The supposed buyer promises to make a deal with the borrower's bank to pay the mortgage for them, then takes a fake fee from the borrower, sometimes for a few months, before disappearing.

What home sellers say about 'we buy houses' companies

Reviews of some of the major cash buying companies are mixed. That's probably because the pros and cons of working with a cash buyer really depend on your situation.

A low, all-cash offer might be a rip-off if you know you can get more on the open market, or it might be a life-saver if you need to sell the house quickly and get a little bit of money in your pocket.

For every negative experience that someone has with a cash buyer, there's an equally positive one, so you can't give too much weight to individual reviews.

Furthermore, there are thousands of companies and private investors that buy houses for cash, so there's bound to be a wide range in the quality of their service.

Positive experiences

Positive customer reviews of major "we buy houses" companies like Homevestors note how timely and convenient a service like this can be.

Negative experiences

Negative customer reviews primarily come from homeowners who complain that a "we buy houses" company offered them way less money than they expected for their homes.

Alternatives to selling for cash

If you want an all-cash offer from a buyer who can move quickly, selling to a "we buy houses for cash" company isn't your only option. You could:

1. Sell to an iBuyer. iBuyers only operate in select markets, but they buy houses slightly below fair market value, do minimal repairs, and then sell them for a profit. If your home qualifies and isn't in need of extensive repairs, this might be a good option since most iBuyers can close in as little as two weeks.
2. Find a good real estate agent. If you're in a hot real estate market where homes are selling quickly, regardless of their condition, listing with the help of an agent might be the best way to get the most money for your home.
3. Sell as is. With an as-is listing, the seller still lists their home on the open market, but they're telling prospective buyers that they won't make any repairs or upgrades before the sale is finalized. An as-is sale might still net you more than a "we buy houses" company is willing to pay, and it could even attract the interest of an investor who will agree to close quickly.

FAQ

How do you know if a cash offer is legit?

If you get a cash offer, verify the company website or the buyer's identity, check for company reviews, and ask for proof of funds so that you can get a mortgage payoff letter from your lender. Before agreeing to make a deal, compare offers from multiple companies to ensure you get a reasonable price. Don't let them rush you!

Are 'cash for houses' companies a rip-off?

A low offer from a company that advertises "cash for houses" might seem like a rip-off to some homeowners, but it really depends on your situation. Cash buyers almost always pay less than fair market value, but it might be worth it to you if you need to sell quickly and your home is in poor condition. If you have time, listing your home on the open market will almost certainly allow you to sell for a higher price.

Why is someone trying to buy my house?

"We buy houses" companies flip homes for profit. They'll often target older or distressed homes (owned by people in difficult financial situations) that they could buy for an affordable price. While it's legal to offer to buy a house for cash, these companies often make offers for far less than the home's actual value, hoping the homeowner is desperate and doesn't fully understand their options.

Related articles

10 Best Companies That Buy Houses for Cash

Looking to sell your home fast? From "we buy houses" companies to iBuyers like Opendoor, we found the best companies that buy houses for cash.

The post Are 'We Buy Houses' Companies a Rip-Off? Here's What Actual Customers Are Saying appeared first on Semya-Moya.

]]> https://semya-moya.ru/real-estate-blog/we-buy-ugly-houses-review/ Fri, 26 May 2023 23:36:38 +0000 https://semya-moya.ru/we-buy-ugly-houses-review-2/ A full review with the truth about selling your house to We Buy Ugly Houses, including how much it'll pay, where it's located, and what REAL customers are saying.

The post We Buy Ugly Houses Reviews: Is It a Scam? appeared first on Semya-Moya.

]]> Is We Buy Ugly Houses right for me? | How it works | We Buy Ugly Houses reviews | Alternatives | FAQ

What is We Buy Ugly Houses?

We Buy Ugly Houses is one of the most well-known companies that buy houses for cash. It's also known as "HomeVestors of America" or "The We Buy Ugly Houses People."

The company makes fast, all-cash offers on these homes and can close in as little as three weeks. But it generally pays 15–50% less than you'd get on the open market.

We Buy Ugly Houses

📝 Avg. closing time

As little as 3 weeks

💵 Avg. time to offer

24-48 hours

🌎 Locations

Nationwide

✍️ Editor’s take

✔️ Pros

❌ Cons

🏆 Best for

If you’re in a difficult situation and need to sell your house fast, We Buy Ugly Houses may be a viable option. But you’ll be losing out on a lot of money in exchange for a speedy sale.

• No need to worry about dealing with repairs before selling your home.

• Offers are made fast, sometimes right after the home inspection.

• Can close in as little as three weeks.

• You’ll likely make much less money than you would selling on the open market.

• Slower closings than some competitors, like We Buy Houses.

• The quality of service varies depending on the franchisee.

We Buy Ugly Houses should only be considered a last-resort option for people who need to sell a distressed property right away — and don’t mind selling for less than market value. In most cases, a real estate agent will get you a much better deal, even if you need to sell quickly.

Who is We Buy Ugly Houses best for?

We Buy Ugly Houses may be a good option if you:

• Need to sell your house very quickly due to foreclosure, divorce, a new job, etc.
• Have a house in poor condition and can't afford repairs
• Have a rental property with bad tenants
• Inherited a property you can't afford

Make sure you compare the offer from We Buy Ugly Houses against a few others. That way, you can ensure you get your home's full value.

To easily compare offers, try using a free service like Semya-Moya. With Clever, a top agent will gather cash offers from reputable local companies, including We Buy Ugly Houses.

Your agent will also give you a professional home valuation and tell you how they'd market your property, so you'll have a realistic idea of how your house would do on the open market. You may be surprised at how quickly a realtor can help you sell, even if your house is in less-than-perfect shape.

With this information, you can decide if taking a cash offer or selling on the market makes the most sense for your situation.

Get fair offers from cash home buyers now!

Compare offers from top cash buyers, plus get an expert realtor's opinion on what your house is worth.

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Pros and cons of selling to We Buy Ugly Houses

✅ Pros The We Buy Ugly Houses brand is legitimate and nationally recognized. There's no need to worry about dealing with repairs before selling your home. You get an offer quickly — sometimes on the spot after a home inspection. You can close in as little as three weeks after accepting an offer.

❌ Cons We Buy Ugly Houses pays much less than a traditional home buyer would. Other "we buy houses" companies offer even faster closings. The quality of service can vary depending on the franchisee. Some We Buy Ugly Houses reviews say customers felt pressured to accept an offer.

Show more

How does We Buy Ugly Houses work?

When a We Buy Ugly Houses franchisee visits your home, they'll evaluate its value based on factors that include:

• The current real estate market conditions
• Comparisons to other local sales
• The home's age and overall condition
• Estimated repair costs

What kind of properties does We Buy Ugly Houses purchase?

Despite its name, you don't necessarily need an "ugly house" to sell to We Buy Ugly Houses. Instead, the company focuses on houses and homeowners in difficult situations, like:

• Structural issues
• High-crime neighborhoods
• Flood plain or weather prone areas
• Houses with high-interest rates or undesirable financing
• Foreclosures
• Inherited houses
• Divorced homeowners
• Houses that are too big or too small for the homeowner

Basically, "ugly house" buyers look for problem houses that represent an investment opportunity. Properties like these are usually sold by people who want to cash out quickly and are willing to take a discount on the price.

How much does We Buy Ugly Houses pay?

Since We Buy Ugly Houses franchisees are real estate investors in the business of making a profit, they'll only pay a percentage of your home's after repair value (AVR).

According to one source, We Buy Ugly Houses franchisees aim to pay only 55–65% of a home's after repair value. This means that while the information the company uses to analyze your home's value may be accurate, the offer you receive is still a discounted one.

Getting an offer from We Buy Ugly Houses

Home sellers can request an offer from We Buy Ugly Houses by completing the online form or calling its 1-800 number.

After the details have been confirmed, your local We Buy Ugly Houses franchisee will schedule a time to come and see your house, either virtually or in person.

Once the inspection is complete, the homeowner will get a firm all-cash offer from We Buy Ugly Houses. Unlike a traditional sale which usually involves contingencies so that the buyer can secure financing, there's no risk that the deal will fall through because the buyer (We Buy Ugly Houses) couldn't get a loan.

It can take between 24–48 hours to receive your offer, but in some cases the offer can be made immediately.

If you accept the offer, you can pick a closing date and We Buy Ugly Houses will take care of the details. You can close in as little as three weeks, or more if you need extra time.

Why the franchise model matters to home sellers

Owners of We Buy Ugly Houses franchises have to pay 0.8–3% per transaction to HomeVestors, giving them even less margin for profit when they buy a house.

This additional cost means that they're incentivised to buy your home for the lowest possible price in order to keep their costs down. For example, if the franchisee knows they have to pay 3% to We Buy Ugly Houses with each purchase, they'll incur a $6,000 fee on a $200,000 house, but only a $3,000 fee on a $100,000 house.

We Buy Ugly Houses franchisees also don't get exclusive rights to the territory they operate in. Multiple We Buy Ugly Houses franchisees could be doing business and competing with each other in your region. In theory, that should benefit you since it means you can shop around from different We Buy Ugly Houses’ franchisees to see who will give you the best offer.

Locations

We Buy Ugly Houses has over 800 franchises in 45 states and Washington, DC.

We Buy Ugly Houses reviews

WeBuyUglyhouses.com has a score of 4.4 out of 5 across 1356 reviews. It's also accredited by the Better Business Bureau (BBB) and it has a BBB rating of A+.

The positive We Buy Ugly Houses reviews from actual customers have common themes like:

• Convenience — contact the company and they'll come to you to make an offer
• Ease — just sign a few documents and it's done
• Speed — home sellers like being able to get a quick offer and close in a few weeks

On the other hand, negative We Buy Ugly Houses reviews include complaints about:

• Feeling rushed to finalize the sale
• Getting an offer that seemed way too low
• Constantly receiving marketing materials without asking

Remember that We Buy Ugly Houses is a franchise company. That means service can vary a lot from one location to the next. So, when researching reviews online, you should try to find ones of your local franchisee, if possible.

Customer ratings vary by location

As a home seller, you should do your research before requesting an offer from We Buy Ugly Houses.

Google "We Buy Ugly Houses near me" to find all of the We Buy Ugly Houses franchises in your area — then find out which one has the best reputation, and contact them directly.

Google reviews and Facebook recommendations are a great place to start if you want to know what actual customers think about local franchises.

A We Buy Ugly Houses case study

We spoke to a verified home seller in Michigan, Barb, who sold her home to We Buy Ugly Houses in 2020.

• Barb told us that she was pleased with her experience and would even recommend We Buy Ugly Houses to a friend because the whole process was so easy.
• She knows that she probably could have negotiated for more money but her situation led her to prioritize a fast, easy sale over getting maximum value.

At the time, Barb was reeling because a previous deal had fallen through and the house was trashed. She was also dealing with illness in her family while the house was vacant.

These difficult circumstances were placing a lot of stress on Barb, so she needed someone to buy the house as is. She contacted We Buy Ugly Houses because she'd received mail from them in the past and held onto their postcard "just in case."

We Buy Ugly Houses ended up purchasing the three bedroom, one bathroom home for $60,000. Two months later, with little more than a new roof and a complete cleaning to remove all of the trash, We Buy Ugly Houses sold the house as is for $116,000 — a gross profit of $56,000, minus the repair costs.

What if the home had been listed on the open market?

While Barb's situation may not reflect every We Buy Ugly Houses transaction, it does reinforce our analysis: home sellers who don't list on the open market are leaving money on the table.

The average cost to sell a home in Michigan is approximately 10% of the sale price.

So, if Barb had just a little bit of time and some cash to install a new roof on the home, she could have sold for $116,000 and netted $104,000 after selling costs.

Alternatives to We Buy Ugly Houses

We suggest looking into alternatives to We Buy Ugly Houses, since it's not the best choice for most sellers. If you’re looking to sell quickly, you have three main options:

• A traditional realtor
• iBuyers
• Other cash buyers

We Buy Ugly Houses vs. a traditional real estate agent

For most sellers — even those who are in difficult situations and need to sell fast — a traditional real estate agent is the best option.

The final sale price is the biggest difference between selling to We Buy Ugly Houses and selling on the open market with the help of a real estate agent.

We Buy Ugly Houses almost never pays fair market value — a trade-off that some home sellers are willing to make for a predictable all-cash sale with no contingencies. But it’s a big sacrifice considering some sellers could get nearly twice as much by selling with a real estate agent.

Listing your home on the open market might cost you some money out of pocket for repairs and agent commissions, but you'll also introduce competition into the mix, resulting in a higher sale price.

Even if you're looking to sell your home as is on a tight timeline, a good real estate agent can adjust their strategy to help you accomplish your goals without taking a price cut. At the very least, you should always talk to a real estate agent first to find out what your home’s market value is before making a deal you might regret with a cash buyer.

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Ready to find real estate agents who can help you save thousands on your sale? Click the button below to get started!

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We Buy Ugly Houses vs. iBuyers

iBuyers share a lot in common with other cash home buyers. They make all-cash offers on houses and close extremely quickly, typically within a few weeks. iBuyers also don’t typically offer as much as homes are worth, but they do offer more than what cash buyers do.

But iBuyers aren’t for everyone. Unlike cash buyers, iBuyers typically don’t buy homes that are in need of major repairs or come with other issues. Instead, they have strict criteria that you’ll need to meet. If you have an "ugly house" that's in need of major repairs, it probably won't qualify. Plus, iBuyers usually only operate in major cities with hot property markets, so a property in a small town or rural area isn't likely to be eligible.

If you decide that an iBuyer is right for you, we suggest comparing a few. Because buying criteria and fees vary a lot between iBuyers, your ability to sell and the amount you’ll make from the sale can likewise vary considerably from one iBuyer to the next.

» MORE: The best iBuyer companies ranked and reviewed

We Buy Ugly Houses vs. other cash buyers

Company	Avg. time to offer	Avg. closing time
We Buy Ugly Houses	24–48 hours	As little as 3 weeks
We Buy Houses	1–7 days	1–4 weeks
Sundae Real Estate	4 days	10–60 days, flexible
MarketPro Homebuyers	Offers can be made the same day	As little as 7 days
I Buy Houses	Varies	Varies

Show more

We Buy Ugly Houses doesn’t differ much from many other cash home buyers. These companies make all-cash offers on homes and can help you close quickly. For We Buy Ugly Houses, it takes just 24–48 hours to receive an offer and you can close in as few as three weeks — both of which are typical timelines for cash buyers.

Speed and convenience are the main reasons people use cash home buyers. If you have a house that is difficult to sell — such as it’s in a high-crime area, needs major repairs, or is in foreclosure — then a cash buyer may be the only way you’ll be able to sell fast.

However, the downside of cash buyers is that they pay a lot less for homes than what they’re worth. You could get as little as 50% of what your house is worth by selling to We Buy Ugly Houses or other cash buyers.

Even if you need to sell quickly and you have a house that may be difficult to sell, you should still contact an iBuyer or real estate agent first. There’s no risk or obligation in doing so and either one will likely be able to get you a better price than a cash buyer. If you’re sure that a cash buyer is right for you, request offers from multiple companies to see if you can get a better price.

» MORE: The best companies that buy houses for cash

FAQ about We Buy Ugly Houses

Is We Buy Ugly Houses legit?

Yes. We Buy Ugly Houses is the trademark of HomeVestors, a national brand with over 800 franchises in 45 states. We Buy Ugly Houses buys distressed properties for cash. See how it compares to other companies that buy houses for cash.

Is WeBuyUglyHouses.com a scam?

No, WeBuyUglyHouses.com isn't a scam. It's a legitimate business. The site is owned and operated by HomeVestors and it connects home sellers with local cash buyers who run We Buy Ugly Houses franchises. While We Buy Ugly Houses might make a low offer on your home, their business operations are completely legal.

Is We Buy Ugly Houses a good deal?

It depends on your situation and how much money you expect to get for your home. When you sell to We Buy Ugly Houses, you'll likely get less than fair market value. If you need to sell quickly, it may be worth it. But if you have some time, you're probably better off exploring your options with a real estate agent.

Does We Buy Ugly Houses pay market value?

In most cases, We Buy Ugly Houses pays less than market value. Most We Buy Ugly Houses franchisees purchase houses in order to repair them and sell for a profit, so they aim to pay 55-65% of a home's after repair value, minus repair costs.

Where can I read We Buy Ugly Homes reviews?

The www.WeBuyUglyHouses.com review page has testimonials from happy customers, but we've sourced both positive and negative We Buy Ugly Houses reviews from various sites to give a more accurate picture of what the company is like.

Can you negotiate with We Buy Ugly Houses?

Most offers made by We Buy Ugly Houses are non-negotiable. While there’s no harm in trying to get a better price, you’re unlikely to have much success. However, you’re under no obligation to accept We Buy Ugly Houses’ offer. You are always free to reject We Buy Ugly Houses’ offer and to try to get a better price elsewhere. We recommend trying an alternative to We Buy Ugly Houses if you want to sell for more.

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Looking to sell your home fast? From "we buy houses" companies to iBuyers like Opendoor, we found the best companies that buy houses for cash.

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An iBuyer is a real estate company that makes near-instant offers on houses. Learn more about how selling your home to an iBuyer works, and how it compares to a traditional sale.

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Methodology

To create this We Buy Ugly houses review, our research team spent over a hundred hours collecting information and data on We Buy Ugly Houses and other companies that buy houses for cash. We analyzed We Buy Ugly Houses’ service offerings and business model and assessed how they compare to the competition. Our team talked to real customers and read through hundreds of online reviews to understand some of the most common complaints and issues. We update this review regularly to ensure you can make the most informed decision about your real estate needs.

The post We Buy Ugly Houses Reviews: Is It a Scam? appeared first on Semya-Moya.

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