The latest real estate market research remarked that over 29% of U.S. home purchases up to June 2022 were in cash, up from 25.3% last year. American home sellers are running to compete with the fast-growing market and have picked the best options for themselves by selling their houses for cash to cash home buyers companies.
However, the cash home buyers option is not always the best pick and is suitable for sellers looking for fast cash or no traditional real estate transaction procedures. In addition, a home seller with faulty property is also the one who primarily believes in selling their house to a cash buyer and avoids legal nuisances relating to their property.
If you’re one of them or are eager to see how the cash buyer market functions, you’ve landed at the right place. In this piece, we’ve researched two highly recommended cash-buying companies in the U.S.U.S. that have attracted massive cash sales and names.
Top Cash Home Buyers in America: Company Reviews
We Buy Ugly Houses
As the name suggests, the company is a cash home buyer buying ugly houses from sellers at 50% to 70% of fair market value (FMV). For a fact, home buying companies would never offer prices a traditional real estate company would.
As these companies buy your house as-is, the home evaluation is regarded depending on the property’s distress. Knowing such a brief detail about any company is always a bad idea; let’s understand if we buy ugly houses legit or scammers.
Is We Buy Ugly Houses Legit?
Why We Buy Ugly Houses is America’s #1 Home Buyer and the straightforward answer for sellers wondering, “Is we buy ugly houses legit?”. The platform allures home sellers looking for fast cash or who have tried all options available to market/her place but have failed.
Also, sellers facing foreclosure go straight to We Buy Ugly Houses to sell their property at 50% to 70% of fair market value (FMV). The company provides you with their firm cash offer at the first meeting and usually within three weeks as soon as possible.
Unlike other cash buyers, We Buy Ugly Houses do not lower the firm offer and close the deal as promised. The platform was founded in 1996 and has worked with over 1,100 local independent home buyers.
After obtaining potential and growing into America’s no.1 cash home buyers, We Buy Ugly Houses franchisees have purchased more than 125,000 homes nationwide.
Besides, the seller must have seen fliers and signs nailed to poles, “We Buy Ugly Houses” with a contact number across America. We Buy Ugly Houses has more than 1,100 franchisees in 47 states and is growing.
The systems and standards built into the platform’s business model guarantee their multiple franchisees’ ethical business practices and appropriate business behavior as they primarily operate on a franchisee basis.
To assist We Buy Ugly Houses franchisees in locating investors and house purchasers interested in local communities, they also provide extensive advertising campaigns and direct marketing initiatives.
How do We Buy Ugly Houses operate?
We Buy Ugly Houses charges zero service and closing fees. They typically offer 50% to 70% of Fair Market Value (FMV), but rates are negotiable depending on the property condition and type. They provide flexible deadlines of up to 30 days.
One negative aspect of this platform is the inflexible terms. Regarding the same, some franchisee offices may use controversial tactics to complete cash-home deals. We would only recommend We Buy Ugly Houses to sellers in desperate need of cash with quick closing at low returns.
Offerpad
Offerpad is one of the four largest iBuying companies in the United States of America and is best known for offering fast cash offers and quick closing. The platform has maintained its credibility in the real estate business by providing a unified customer experience which has gained them a 4.5/ star rating.
Is Offerpad Legit?
Offerpad is a legitimate iBuyer company, which is quite visible by its average customer support rating on credible sites like Offerpad TrustPilot and Yelp support. The company grants sellers time to rethink and be confident in their decision to sell their property for cash.
Well, you would say the company might lose clients this way; no, they won’t. This way, Offerpad can assure sellers that they are not obliged to make an on-the-spot decision. It also helps sellers research the company they sell their house to. If both the parties are confident in taking the process further, the deal closes on a bright note.
However, for some reason, if a seller wishes to cancel the agreement, they will have to pay off a 1% cancellation fee to Offerpad. The business has strict company and regulation policies.
How does Offerpad operate?
As a home buyer or seller using Offerpad, you’ll work with their in-house team and third-party vendors. Offerpad functions differently than other companies. Their employees rely on their professional experience and the company’s algorithms to evaluate homes listed online.
This process specifies a cash offer based on a fair market price and a price for a home that is available for sale. The process requires sellers to be part of the team and coordinate with multiple contacts from Offerpad and third-party vendors.
As a seller, you would be asked to work like an agent without knowing any technique or method. This compulsion leads sellers not to receive good deals as they are unaware of the evaluation process.
So far, we’ve learned about Offerpad’s features and functionality, but the essential question that crosses every seller’s mind is the hidden fee. So are there any Offerpad hidden fees? Well, there are no such Offerpad hidden fees.
Offerpad work on its genuine ethics and company policy. So far, there have been hardly any complaints regarding Offerpad’s hidden fees where a client had got scammed or cheated.
Final Words
We hope to have covered your concerns regarding, Is we buy ugly houses legit and Offerpad hidden fees. If you wish to sell your home with mentioned platforms, feel free to do so. These companies are highly credible. However, they offer a low FMV compared to a company like Houzeo.com.
The platform offers cash sellers of the best M.L.S. listing service along with additional charges with a small flat fee of $349+. Moreover, they don’t charge a 5% service fee or any undisclosed closing fee. It is generally the best option for sellers looking for cash deals.
It offers the most significant number of cash buyers through Houzeo.com’s M.L.S. listings. It includes Opendoor and Homevestors, who recently submitted cash offers on Houzeo. To know more about them check out Houzeo reviews.
