Not very long ago, an investor might come in and buy a dilapidated or seized home for a bargain because the owner decided to sell it for cash.
Cash sales have grown outside the distressed house market as sellers take advantage of new technology, fast sale platforms, and a competitive housing market, all of which have led to a rise in the percentage of cash bids.
It’s not unusual for sellers to prefer a cash offer because of the convenience it provides, and in certain areas of the market, cash buyers are even giving more than the going rate.
58% of real estate brokers polled believe that the current uptick in cash offers will continue beyond the current housing fad, with sellers having higher expectations for ease, swiftness, and certainty.
If you’re wondering “how to sell my house fast for cash,” here are the top 5 companies that buy houses for cash in America.
If you want to market to local cash buyers in practically any part of the country, Houzeo is your best bet because it is available in 46 states across the United States.
Houzeo’s MLS listings reach the largest pool of ready-to-buyers in the market. HomeVestors and Opendoor are among the companies that have made recent financial proposals for Houzeo.
Houzeo does not have any sort of closure fee that is disguised as a service fee or any other hidden expenses linked with it.
The Multiple Listing Service can help your home reach the largest audience of serious, moneyed purchasers. Real estate search engines like Zillow, Realtor.com, and Redfin are included.
Your listing will be seen by a wide audience of cash buyers, both locally and nationally (including iBuyers). You may list your property in any state of repair on Houzeo.com.
Regarding the closing, it is entirely up to you and your schedule as to when you wish to proceed with the closing. You can also specify and negotiate the cash terms of the deal.
Typically Houzeo’s Gold plan is ideal for sellers who want to get the most out of their cash offers. As a result, the number of cash buyers who see your listing on the Multiple Listing Service (MLS) will increase significantly.
Houzeo’s sophisticated technology and tools will help you strike the best possible deal for your cash offer.
Redfin is the largest discount brokerage business in the United States, and RedfinNow is its expanded iBuying division, operating under the “iBuyer” moniker which is active across 30+ states.
RedfinNow, unlike the other iBuyers, also purchases empty properties, meaning that nearly any homeowner may get fair cash offers for a service fee that ranges from 5% to 13% depending upon the sale price of your home.
RedfinNow will make you a cash offer for your home anywhere from 70% to 90% of its fair market value, regardless of its current condition and they also allow you to choose a closing date that’s up to 45 days in the future or in some cases even as soon as 14 days.
The parameters of an offer made by RedfinNow are non-negotiable and unlikely to change considerably based on the results of a home inspection.
This iBuyer firm makes offers that are competitive when it comes to cash, but the service costs that RedfinNow may charge might add up to 13% of the sale price of the house.
One thing to note here is that while RedfinNow’s interface is smooth and user-friendly, the service price scales directly with the property’s condition.
To put it simply, Opendoor is one of the largest companies that buy houses for cash in the country. They buy houses for cash quickly and may close whenever it’s convenient for you.
Though Opendoor makes reasonable offers, their prices are far lower than what your home could fetch on the open market.
They provide anything from 70% to 100% of the home’s fair market value for a 5% service fee Opendoor only buys properties for cash in the best areas. Opendoor is an option if the repairs to your home are minor. If you don’t, Opendoor could not even make you a preliminary cash offer.
Opendoor allows for closings to take place as far in advance as 45 days and there is no wiggle room when they make cash offers. The final terms and conditions may differ based on the results of the house inspection.
You could have to pay up to 13% of the sale price of your property in service fees, but getting a speedy cash offer and a convenient closing are well worth it. After subtracting the cost to restore the house and the cost to close, Opendoor will provide a final cash offer.
Since Opendoor is active across 51 markets, consider them if they buy houses in your area as they could be the best option for those who are wondering “how to sell my house fast”.
HomeVestors is a group of independent real estate investors with offices all across the country and is also the parent company of “We Buy Ugly Houses”. This cash home buyer assists homeowners who are in dire need of finances. Each branch is owned and managed separately by a different local real estate owner.
When you go to them to sell your property, they’ll give you an offer of between 50 and 70 percent of the fair market value, despite the fact that they have a presence in 45 states and 800 franchise offices and don’t charge a service fee.
HomeVestors will buy your house irrespective of the condition of your house, whether it is in foreclosure with major structural problems, whether it is one of those houses whose owners are going through a divorce or a death in the family or those who inherited a home but can’t afford to pay the mortgage or even those located in dangerous areas. They buy them all!
HomeVestors will work with you to choose a closing date that’s convenient for you, up to 30 days in advance. Your region’s local real estate investors choose the conditions of any offers they make.
The cash offered from HomeVestors is notoriously low. Get the fair market worth of your property by analyzing recent comparable sales in your area before you ask for a cash offer from them.
After subtracting estimated maintenance expenditures, the net revenues are around 50% to 55% of the home’s fair market value.
If you’re willing to settle for something less than what the market offers but are in an extreme rush to get rid of it, then this is the firm for you.
Offerpad, an iBuyer established in 2017 and currently operating in 22 states, is well-known for its quick closing times.
Based on current home prices in the area and the expertise of Offerpad’s real estate experts, the platform’s unique evaluation algorithm determines a starting offer price for the property.
Only homes in desirable areas, requiring no or little repairs, are eligible for cash offers via Offerpad. In exchange for a 5% service fee, they will buy your house at 70% to 90% of its fair market value. Offerpad may not make a cash offer on distressed homes.
Offerpad’s closing timeframe is the quickest in the industry, starting at 7 days and extending to 45 days in the future. Their cash offer is non-negotiable and subject to changes based on the house inspection.
The net cash offer on Offerpad takes into account the price of any necessary repairs and the closing charges. To get an immediate cash offer and quick closing, you may have to pay a service charge of up to 13% of the home’s selling price.
Offerpad also charges a 1% cancellation fee if you change your mind after accepting a monetary offer.
Check out Offerpad reviews, to know more about them.
Is Companies That Buy Houses For Cash For You?
Yes and No! It depends on your requirement.
If you’re approaching a cash home buyer, do so only if:
- Your deadline is very tight and you’re searching for “how to sell my house fast” on the internet to cash buyers or if you’re going through a stressful personal issue like divorce and need to relocate quickly.
- You’ve inherited property of a deceased relative that is located far away or is in a dilapidated state and wish to sell it to companies that buy houses for cash fast.
- You’re in deep financial trouble right now and are worried that your house may get mortgaged or foreclosed and you’re wondering “how to sell my house fast” and get rid of it as soon as possible to prevent a total loss of value and the disastrous effects of foreclosure on credit.
- A lot of damage has been done to your property and you’re not able to afford to repair it.
If time is of the essence and you need to dispose of an undesired home, companies that buy houses for cash may be your best bet. However, there is a steep price to pay for this hassle-free experience. (Cheap offers)
There are also other options if you don’t wish to settle for something less and have time on your hands like Houzeo’s flat-fee MLS listing.
If you’re willing to stick around for a while, Houzeo is worth your time and money as it has the best-in-class technology to help you sell your house swiftly and in a hassle-free manner.