Are you thinking of selling your house and want to find companies that buy houses for cash?
If so, keep reading, as we’re going to list some of the more popular companies that are looking for houses today.
What Are The Categories of Companies That Buy Houses For Cash?
When people think of companies that buy houses for cash, they sometimes think of shady real estate firms.
However, there are a number of legitimate companies that offer this service.
We’ll be talking about these companies in a moment.
But first, let’s show you the two broad categories into which companies that buy houses for cash fall.
Companies That Buy Houses For Cash: iBuyers
iBuyers is a term used to describe companies that purchase houses for cash without all the hassle you would normally expect.
iBuyer companies typically offer lower prices than traditional real estate agents, as they are not strictly bound by real estate industry norms as real estate agents are.
However, since iBuyer companies use computer models and algorithms to dictate prices, you may get 100% of the fair market value of your property if you sell to an iBuyer.
Here are some key details to note:
- You can expect to get offers from iBuyers that fall between 70% and 100% of the property’s fair market value.
- As “an unwritten rule,” iBuyers don’t purchase foreclosed or rented houses, and their service fees might be rather hefty.
- iBuyers might be a great option for those who want to sell their houses quickly and without having to deal with the hassle of negotiating a sale price or dealing with home repairs.
- iBuyers often work with lenders to gain important financial backing. This allows iBuyers to offer competitive rates and rapidly close on transactions.
Companies That Buy Houses For Cash: We Buy Houses For Cash Companies
There are also companies that buy houses for cash that are quite appropriately called, “We Buy Houses For Cash” companies.
As opposed to iBuyers companies, “We Buy Houses For Cash” companies purchase homes that are in need of repair, have been abandoned, or have tenants currently living in them. They then work to fix these homes and sell them for a profit.
There are a few things to keep in mind if you are considering selling your home through one of these companies:
- They usually pay between 50% and 70% of the property’s current market value.
- Unlike iBuyer companies, We Buy Houses For Cash companies don’t have service charges or closing costs (usually).
- We Buy Houses For Cash companies will purchase foreclosed or rental homes.
The Best iBuyer Companies In The USA
1. Houzer
If you’re looking to sell your home quickly and without any hassles, then Houzer is a good choice.
Operating in 46 states, Houzer is one of the largest iBuyer companies in the USA.
Not only do they make selling your home a breeze, but their service fee of just $349 also means that you’ll never have to worry about paying a commission or other costly expenses.
If you’re ready to take your house off the market and move on with your life, give Houzer a try. You won’t regret it.
2. Opendoor
Opendoor was the company that first introduced the iBuyer business model to the USA. In fact, they were the first company to create and use the iBuying model for buying homes.
Founded in 2014, Opendoor has since become one of the country’s biggest and most respected iBuyers.
Opendoor charges a service fee of 5% for all transactions, which puts it at the top of its class when it comes to fees.
Furthermore, Opendoor is one of the few companies that actually buys houses at 90% to 100% fair value rates.
3. Offerpad
If you are in need of cash for your home, Offerpad is yet another one of the best iBuyer companies that buy houses for cash.
While the company only services 17 different metro areas (click here for the list of cities they operate in), their service fee of 5% still makes them a fair option in Las Vegas.
Selling your home through Offerpad is easy and mostly stress-free. All you have to do is list your property online and wait for offers to come in.
Once you have an offer, the process of closing can be started within a few days.
Whether you are looking to sell your home quickly or want to get the best possible price (average closing rates are often 80% to 100% of a property’s fair market value), Offerpad may be the perfect company for you.
4. RedfinNow
If you’re thinking about selling your home, RedfinNow is another one of the iBuyer companies that buy houses for cash that you might want to check out.
With a service fee from 5% to 13%, RedfinNow has a considerably higher fee than most other home buyers.
RedfinNow also offers most sellers between 70% and 90% of a home’s fair market value, which could also be considered lower than other iBuyers.
The upside to RedfinNow is that they buy older homes that may otherwise be rejected by other iBuyer companies.
They also have a short closing date window between 10 and 30 days.
Whether you’re ready to sell or just want to explore your options, RedfinNow is at least worth a try!
5. Knock
Knock offers a service fee of 1.25% plus $1,450, which is less than most other companies.
But there’s a catch: “You must be interested in buying another home at the same time that you intend to sell yours.”
Knock has a strong reputation for having a more flexible closing time (capped at six months), and as such, they are a good option for individuals and families who would like to switch neighborhoods and/or move to another city within the USA.
Knock currently serves 20 areas, but there is a lot of optimism that they will cover even more areas in the future.
The Best “We Buy Houses For Cash” Companies in the USA
1. We Buy Ugly Houses
We Buy Ugly Houses is known to be one of the fastest and most reliable companies when it comes to selling your home.
With about two decades of experience, they have learned how to successfully navigate the complex housing market and get you paid for your home.
We Buy Ugly Houses is a franchise that is owned and operated by “HomeVestors” who are dedicated to providing excellent customer service and ensuring that each and every sale is a success.
If you are interested in selling your home through We Buy Ugly Houses, don’t hesitate to contact them today!
2. We Buy Houses
When you are thinking of selling your home, We Buy Houses is one of the better companies that buys houses for cash.
We Buy Houses purchases homes at 50% to 70% of their fair market value, and just like We Buy Ugly Houses, they are willing to pay for distressed houses, homes sold during a divorce, houses with structural issues, houses in high-crime neighborhoods, etc.
We Buy Houses covers over 2,700 cities, and as such, it is quite likely that they buy in your city.
Whatever your home’s condition, they’re worth checking out.
You have a high chance of success having them make an offer and ultimately buying your home.
3. MarketPro Homebuyers (Not In Las Vegas)
If you are looking to sell your DC, Northern VA, Maryland, or Pennsylvania home and want the best chance of finding a buyer in the current market, then you should contact MarketPro Homebuyers.
This company is one of the best in the business when it comes to buying homes for cash.
Even if you are selling an ugly or distressed home, chances are very high that they will be interested since MarketPro Homebuyers specializes in buying homes that have some sort of problem or issue.
MarketPro Homebuyers offer about 70% to 90% of the fair market value on a property.
They also offer flexible closing dates (capped at 60 days). The only downside to this firm is that they only service a limited number of markets.
4. Sundae
Sundae is another “We Buy Houses for Cash” company in the USA.
They have a proven track record of bidding on homes at about 50% to 70% of their fair market value.
As with other “We Buy Houses For Cash” companies, they are interested in purchasing your home even if it’s not particularly pretty or is facing foreclosure, bankruptcy, etc.
Sundae has a handful of pre-vetted investors that are willing to bid on and take your home off your hands.
Sundae only operates in California, and just like MarketPro Homebuyers, they offer flexible closing dates (capped at 60 days).
So, if your home is in California and you are interested in selling your home and would like to talk to someone about how Sundae can help, please don’t hesitate to check out Sundae today!
5. I Buy Houses
Finally, I Buy Houses also buys houses for cash in the USA.
With over a decade of experience, the I Buy Houses team has onboarded tons of independent real estate investors all over the United States who’d be happy to make you an offer on your home.
“Our investors work with sellers and negotiate a fair price for their home,” states the company.
However, while the company states that their approach to buying houses for cash remains consistent, the fact that there are so many investors often means one of three things:
- No one may end up contacting you after your listing.
- You may get a very low offer as negotiations are often left to you and the seller.
- There are no set closing limits.
Don’t be discouraged, though, if you want to pursue working with this company.
They are on this list because quite a number of people have found success working with one of the many independent investors registered on the I Buy Homes platform.
People who have used the platform often talk about getting a fair deal and that the investor they worked with was customer-centric from start to finish.
Frequently Asked Questions (FAQs)
1. Should I Just Sell My Home Via A Broker or An Agent?
When you are thinking about whether to sell your home through a company that buys houses for cash or via a broker/agent, it is important to understand the pros and cons of both options.
Selling your home through a company that buys houses for cash can fetch you instant cash but may also incur more fees than you’d get with a broker or an agent.
On the flip side:
While a broker or an agent may charge you less in fees, you’ll probably need to fix and stage your home to have a chance of selling it, which may not be a viable option if you are filing for bankruptcy or if your home is in very rough condition.
As such, ultimately, it is important to decide which option is best for you based on your specific needs.
2. How Can I Get The Best Offer When Selling My Home To A Company That Buys Homes For Cash?
When selling your home to a company that buys homes for cash, naturally it’s important to get the best offer possible.
Here are some tips that will help:
- Know your rights. Be familiar with your state’s homestead exemption laws.
- Don’t be afraid to negotiate. If you feel like you’re not getting the best deal possible, give some pushback. It might be a little uncomfortable to do so, especially if you’re eager to close the deal, but companies that buy homes for cash are sometimes willing to bump up their asking price a little bit in order to secure a sale.
- Shop around. Take a look at more than one company that buys homes for cash and bookmark the best bids.
Conclusion
In conclusion, there are many companies that buy houses for cash, and they can be a great way to sell your home quickly and easily.
Plus, many people appreciate not having to deal with brokers or long waiting periods.
If you are interested in finding out more about companies that buy houses for cash, be sure to contact us. We can point you in the right direction.
