10 Best Companies That Buy Houses For Cash

Companies That Buy Houses For Cash cov_img
Companies That Buy Houses For Cash cov_img

Quick Look: Ratings | Weigh Ups | What Are Cash For Home Companies | Types | Near Me | Other Options | Cash Buyer Vs. Real Estate Agents | FAQs

The year 2022 slowed down the world in many aspects, and the housing market was affected as well. As of September 2022, there was a 20.2% decrease in house sales when compared to the previous year.

Let’s take a look at the best companies that buy houses for cash which can make the process easier for home sellers.

Ratings: 10 Best Companies That Buy Houses for Cash

CompanyOffer PriceService Fees100% Online5-Star Reviews
1. Houzeo100% of Market Value$349 Flat Fee
2. Opendoor90% to 100% of Market Value5% of Sale Price
3. Offerpad70% to 90% of Market Value5% of Sale Price
4. Knock70% to 90% of Market Value1.25% of the Sale Price
5. We Buy Ugly Houses50% to 70% of Market ValueNone
6. MarketPro Homebuyers70% to 90% of Market ValueNone
7. We Buy Houses50% - 70% of Market ValueNone
8. House Cashin50%-70% of Market ValueNone
9. iBuy Houses50%-70% of Market ValueNone
10. ASAP Cash Home Buyers50%-70% of Market ValueNone

Weigh Ups: 10 Best Companies That Buy Houses for Cash

1. Houzeo

MAXIMUM EXPOSURE TO BUYERS
  • Service Fee: $349
  • Available nationwide
  • ⭐⭐⭐⭐⭐

Houzeo is the most popular platform for sellers looking for affordable full-service companies that will give maximum exposure to cash home buyers with minimum real estate agent interaction.

  1. Fees: $349 Flat Fee
  2. Offer: 100% of Market Value
  3. Purchases: More on the lines of an MLS assistance, Houzeo.com provides unparalleled exposure for your property by listing it on the MLS. Cash home buyers hunt for properties on the open market, and Houzeo brings you one step closer to reaching your potential cash buyer
  4. Offer Terms: When you list with Houzeo.com, your MLS listing is syndicated to thousands of real estate websites like Zillow, Trulia, Realtor.com, Redfin, etc. So, along with more exposure, you get an opportunity to close at the best price
  5. Coverage: They are available nationwide

Key Take: This is the perfect option for home sellers seeking maximum cash for their properties with zero hidden fees, 100% automated process, and 5-star customer support from Houzeo Concierge.

  • Nationwide coverage
  • Savings on commissions
  • 100% online – easy listing, fast changes, online showings, and online offers
  • Listings get syndicated to Zillow, Realtor.com, Trulia, Redfin, and 100s of other sites
  • Quick listing (within a day with Houzeo Concierge)
  • Mobile app availability

Houzeo has a 4.9/ 5 rating (out of 3,109 reviews) on Google & Trustpilot.

Houzeo has a nationwide coverage.

The 3 Best iBuyers

Instant Buyers, popularly known as iBuyers, are quick purchasers of homes with mostly all-cash offers that are made within 2 days of contact. They typically close in two weeks or less and are thus the best option for anyone looking to sell their homes ASAP.

When a seller opts for iBuyer companies they streamline the complex process of selling your home. Most iBuyers respond with a cash offer after you fill out a questionnaire online. However, you might receive a lower offer when compared to selling the traditional way.

» Check out: iBuyer Reviews.

2. Opendoor

BIGGEST iBUYER
  • Service Fee: 5%
  • Closes in 10-60 days
  • ⭐⭐⭐⭐

Headquartered in San Francisco, Opendoor is an online company that buys and sells residential real estate. They make instant cash offers on homes through an online process, makes repairs on the properties it purchases and relists them for sale.

  1. Fees: 5% of the Final Cash Offer
  2. Offer: 90% to 100% of FMV (Fair Market Value)
  3. Purchases: They make only selective choices
  4. Offer Terms: They give non-negotiable indicative cash offer within 24 business hours
  5. Coverage: They are available only in 21 states

Key Take: They are experienced sellers wanting to sell desirable properties.

  • Seamless registration and selling process
  • Instant all cash offer
  • Best for experienced sellers
  • The repair cost breakdown isn’t disclosed in the offer

Opendoor is rated 4.4/ 5  (out of 2,614 reviews) on Reviews.

Opendoor is available in 47 major markets across 21 states.

3. Offerpad

RELIABLE CASH OFFER
  • 5% Service Fees
  • Close in 10 days
  • ⭐⭐⭐⭐⭐

Found in 2017, Offerpad has made a name in the short time it has been in business. Popular for its fast closing, they also have a patented evaluation tool that generates an initial offer price.

  1. Fees: 5% Service Fees
  2. Offer: 70% to 90% of FMV (Fair Market Value)
  3. Purchases: They prefer desirable neighborhood and, properties with minimal damage
  4. Offer Terms: They have inflexible terms, the offer might change after home inspection
  5. Coverage: They are available only in 16 states

Key Take: They do not include home repair cost and seller closing costs but if you want to sell quickly, they are ideal for you.

  • Close in 10 days
  • No repairs or cleaning required
  • Only 1% cancellation fees if backing out after acceptance
  • House-sellers have long term stay option

Offerpad has a 4.6 out of 5 stars rating on TrustPilot.

Offerpad is available in 16 states.

4. Knock

RELIABLE CASH OFFER
  • 1.25% Service Fees
  • Purchases as-is
  • ⭐⭐⭐⭐⭐

Knock does not come under the category of iBuyer, it is in fact a mortgage lender. But instead of buying or selling homes they combine both and does “Knock HomeSwap”.

  1. Fees: 1.25% of the Cash Offer
  2. Offer: 70% to 90% of FMV (Fair Market Value)
  3. Purchases: They only offer cash for homes if you are interested in buying one as well
  4. Offer Terms: Their offer may change after home inspection
  5. Coverage: They cover 20 markets

Key Take: They can facilitate enough capital if you are looking to buy your dream home.

  • Helps sell old home while looking up options for new homes
  • Firm cash offers
  • Final closing timeline is 6 months
  • Doesn\'t associate with distressed properties

Knock Homes has an average rating is 4.8 out of 5 stars, with 736 reviews on Zillow.

Knock has coverage on 10 states.

The 6 Best “We Buy Houses for Cash” Companies

“We Buy Houses for Cash” Companies are ideal if you want to sell an extremely distressed property.

These companies follow the 70% rule i.e they pay no more than 70% of your home’s market value.

» Read Further: How much is Title Insurance?

5. We Buy Ugly Houses

EXTENSIVE COVERAGE
  • Service Fee: None
  • Close in 7-60 days
  • ⭐⭐⭐

“We Buy Ugly Houses” is a cash home buyer that been in the business for the last 25 years. So its business model, prestige, and process of buying homes for cash are well established. They typically focus on distressed properties.

  1. Fees: None
  2. Offer: 50% to 70% of FMV (Fair Market Value)
  3. Purchases: They buy distressed properties ,i.e., with structural issues, couples going through a divorce, bad mortgage financing, inherited houses, difficult-to-sell neighborhoods, etc
  4. Offer Terms: They give indicative offers in 24 hours
  5. Coverage: They are available nationwide

Key Take:  They have representatives who will evaluate your home based on local market sales and housing trends, and an offer will be made for your house. If you are looking to sell an extremely distressed property, these guys are the one for you.

  • Get an offer in 24 to 48 hours
  • Close in as little as three weeks
  • No need to prep the home for listing or worry about repairs
  • Quality of service varies between franchises

We Buy Ugly Houses has 2.5 out of 5 stars with 6 reviews on Yelp.

We Buy Ugly Houses operates nationwide in 1,100 locations in 45 states.

6. MarketPro Homebuyers

MarketPro Homebuyers
  • Service Fee: None
  • Close in 7-30 days
  • ⭐⭐⭐⭐

After its launch in 2018, MarketPro Homebuyers has become one of the biggest cash home buyers in it’s coverage areas. They operate in 18 states, helping homeowners sell their homes on their own timeline and with zero hassle.

  1. Fees: None
  2. Offer: 70% to 90% of FMV (Fair Market Value)
  3. Purchases: They buy all sorts of distressed properties and they specialize in buying houses as-is
  4. Offer Terms: Their first offer is given within 24-48 business hours.
  5. Coverage: They are available in 18+ markets

Key Take: Mainly known for buying houses as-is, MarketPro Homebuyers is a good option for home sellers looking to sell their properties quickly and without any effort.

  • Free moving service
  • Close in as little as seven days
  • Only available in a handful of states
  • They pay 10% less than what they estimate you’d net after all of your costs selling on the open market

MarketPro HomeBuyers is rated 4.3/ 5 (out of 269 reviews) on Google.

MarketPro Homebuyers is available in 18+ markets.

7. We Buy Houses

CASH HOME BUYER
  • Service Fee: None
  • Closes in 3 weeks
  • No credible reviews.

Known to buy properties as-is and in any condition, We Buy Houses is more of a local real estate investor. It is more like a network than a single investor. Thus the option of multiple offers are available for home sellers.

  1. Fees: None
  2. Offer: 50% to 70% of FMV (Fair Market Value)
  3. Purchases: They buy all sorts of distressed properties, any condition, reason or locality
  4. Offer Terms: They have inflexible terms
  5. Coverage: They are available in almost all the states and major cities

Key Take: They operate as franchises with local investors, each one different based on the location. Though available everywhere, they have no credible reviews.

  • Offer within 2 days
  • Close in as little as a week
  • The preliminary offer usually stays same till the end
  • Investors who evaluate your house offer full cash

We Buy Houses have no credible reviews.

We Buy Houses have coverage over 49 states.

8. House Cashin

CASH INVESTOR NETWORK
  • Service Fees: None
  • Offers made in 24 hours
  • ⭐⭐⭐⭐⭐

House Cashin is a relatively new company which is more like a network of investors. Homeowners will get upto 5 offers in the place of 1, the best can be picked and proceeded further.

  1. Fees: None
  2. Offer: 50% to 70% of FMV (Fair Market Value)
  3. Purchases: Damaged to termite infected properties
  4. Offer Terms: Multiple offers and negotiable
  5. Coverage: They are available in all the states

Key Take: They are the ideal choice for home sellers who want more options than just selling their house as-is.

  • Cash Offers within a day
  • No repairs or cleaning
  • No closing costs or commissions
  • Closing date can be at your convenience

House Cashin has 4.7 stars out of 5 on Google.

House Cashin buys houses nationwide.

9. iBuy Houses

CASH BUYER NETWORK
  • Service Fee: None
  • Closes in 3 weeks
  • No credible reviews.

iBuy Houses is a community of agents and investors who show interest in your property after you share information regarding the same. They are more of a network of over 5000 investors and thus is more like an intermediate platform.

  1. Fees: None
  2. Offer: 50% to 70% of FMV (Fair Market Value)
  3.  Purchases: All types of properties, distressed or termite infected
  4. Offer Terms: Negotiable
  5. Coverage: Covers nationwide

Key Take: If you are looking to sell fast, this cash home buyer may not be for you. iBuy Houses have many investors and thus takes time to find you an ideal match.

  • Helps connect home-sellers with investors
  • Anyone with subscription fees can sign up
  • Multiple Offers at time
  • Negotiations possible

iBuy Houses have no credible reviews.

 

iBuy Houses has coverage nationwide.

10. ASAP Cash Home Buyers

PAY CASH FOR HOUSES
  • Service Fee: None
  • ⭐⭐⭐⭐

ASAP Cash Home Buyers are a popular cash company found in 2013. They help sell distressed properties, residential real estate and even empty lots. They have many offers and services that enhances the experience for home sellers.

  1. Fees: None
  2. Offer: 50% to 70% of FMV (Fair Market Value)
  3. Purchases: They offer cash for any types of properties, despite condition or for any reason
  4. Offer Terms: The offer terms are negotiable and reasonable
  5. Coverage: They provide their services nationwide

Key Take: They are true to their name and provide their services ASAP, the turn time is sometimes even 24 hours. The ultimate choice for a seller who looks to be rid of his property quickly.

  • No repairs or closing costs
  • Free and no obligation offers
  • Closing date at your convenience
  • No undisclosed fees

ASAP Cash Home Buyers have a star rating of 3.75 out of 5 stars, with reviews on Google

ASAP Cash Home Buyers have coverage nationwide.

» Important: Check out the best For Sale By Owner websites.

What are “Cash for Home” Companies?

“Cash for Home” Companies are real estate buyers who make direct cash offers on homes. This facilitates the otherwise slow and cumbersome process of selling your house in the open market.

If you want to sell your home for cash without the hassle of a traditional real estate agent, these Cash For Home Companies are perfect for you. You can expect the deal to close in 2-3 weeks.

However, you are most likely to compromise on the FMV (Fair Market Value) of your home because these cash buyers generally offer a lower price for the homes they buy.

Types of Cash For Home Companies

There are a variety of companies that buy houses for cash. These companies have different methods and motivations for purchasing properties.

CompaniesDescription
1. iBuyersThey are technologically advanced companies that make instant offers for your property.
2. “We Buy Houses for Cash” CompaniesThey buy distressed properties, homes facing foreclosures and inherited homes in need of repairs.
3. House FlippersThey are business strategists who buy houses, make improvements and flip it at a higher price.
4. Buy-and-Hold InvestorsThey are investors who buy homes for cash and rent it out. The properties they buy generally require some repair work before renting them out.

1. iBuyers:

If you want to sell your home quickly with minimal fuss, you can opt to sell it to an iBuyer. They make use of technology and market data to offer a relatively higher price than what franchise cash buyers would offer.

Selling your home to an iBuyer involves the following steps:

  • Submit a form: Fill in a short questionnaire online about your home.
  • Get a cash offer: Quickly receive an offer based on the AVM (Automated Valuation Model), you can choose to accept or decline.
  • Do a home inspection: An onsite visit is scheduled if you accept the preliminary cash offer.
  • Review final cash offer: Repair costs and expenses are adjusted, and the company makes a final cash offer.
  • Close the deal: You can close the deal within 7 days.

How Do iBuyers Calculate Your Home Value?

iBuyer platforms make use of cutting-edge technologies like the Automated Valuation Model (AVM) to calculate the value of your home. This takes into account the date your home was built, your home’s unique features, location, and market trends to compare it with other homes that are already sold.

How much are iBuyer Fees?

Typically, iBuyer Fees range from 5%-13% of the sale price. These fees don’t include other costs such as taxes or closing costs.

iBuyers like Opendoor charges a 5% service charge. For closing costs, they charge 1% to 3% typically, depending on the repairs identified during the inspection.

Pros and Cons of iBuyers

✅ Pros❌ Cons
Saves Time: Can make a swift sale without staging or cleaning you house.No Scope of Negotiation: These are quick deals with conditions, there is no chance of negotiations.
Certainty of Sale: There is an assurance of sale, usually no need to visit multiple iBuyers.Less Profit From Sale: The quick sale comes with a charge of 6%-8% of the final sale price.
No Repairs Required: You can sell your house as-is.Limited Coverage: They are available only in selected areas in the US.

2. ” We Buy Houses for Cash” Companies:

“We buy houses for cash” companies will buy your home at a relatively low price. They make necessary repairs and later resell it for a profit.

Let us look at the process involved in selling with “We Buy Houses For Cash” companies.

  • Enquire and get an offer: Submit all the required information, and after basic research, they will give an approximate price within the first few hours of your inquiry.
  • Formal Offer: If you are ready to continue with the indicative offer, the house-buying company will ask a local, independent estate agent to carry out a formal valuation.
  • Choose a Closing Date: A final offer is given after the valuation, if approved you get to decide the closing date.
  • Complete the Sale: Companies that buy houses for cash gives you the flexibility to close the deal according to your convenient time which can be as less as 10 days.

How Much Do We Buy Houses for Cash Companies Pay?

We Buy Houses For Cash companies generally follow the 70% rule i.e. they pay no more than 70% of your home’s ARV ( After Repair Value).

Pros and Cons of “We Buy Houses for Cash” Companies

✅ Pros❌ Cons
Quick Sale: The speedy transaction can help reduce the traditional timeline and be done in weeks.Lowball Offers: They generally pay 50% to 70% of the home’s fair market value, deducting all repair, utility, and re-selling expenses.
Sell in any Condition: No worry of repairs and can be sold with any sort of damage.Non-negotiable: Mostly take-it-or-leave-it sales, you can’t expect more than 70% of the market value of your home.
Flexible Closing: You can sell as fast as you want or even ask for a later date.No improvements: Even minor changes you make to the house will not increase the sale price sometimes.

Companies That Buy Houses for Cash Near Me

RegionStates/CitiesCompanies That Buy Houses For Cash Near Me
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Should You Look For Investors That Buy Houses for Cash?

For home sellers, real estate investors have become a common alternative to cash for home companies. This happens so because most of the time the a property is not in a good condition, like a distressed property, or the immediate need for cash.

Below are a few benefits of selling your home to investors that buy houses for cash.

  • No worry of cleaning your property or the need to care for any repair works, though the expenses of which might reflect on the sale price.
  • Can close quickly, especially when compared to a traditional agent.
  • No need to settle with a single investor. You can find multiple local real estate investors online and decide on the best for you.
  • Can enquire how they came up with the offer. The exact percentage of ARV(after repair value) varies, but it accounts for holding costs and a margin for their profit.

» Save: Check out the best Flat Fee MLS Listing Services in 2023.

Selling with a Real Estate Agent vs. Selling with a Cash Buyer

When you decide to sell your house with a Real Estate Agent, you list your home on the MLS. Then your cash offer gets syndicated to other real estate websites like Zillow, Trulia, Realtor.com, etc. This amplifies the exposure of your MLS listing and puts you where cash home buyers are looking for hot properties.

You can get multiple offers and also compare the highest and the best offers from potential buyers. There is an opportunity to negotiate the sale price, closing costs, etc., and save substantially in commissions by choosing a flat fee MLS platform or low commission real estate agent.

This is the best option for home sellers who want to maximize their cash offers, avail of the best offer terms and close at a flexible schedule.

On the other hand, selling with a Cash buyer ensures a quick sale but you trade off the profit margins for the sale.

iBuyers paid 99.4% of the fair market value in 2021. However, with their limited coverage, not all sellers can benefit from them.

“We Buy Houses for Cash” Companies offer 50%-70% of the fair market value of your home. This can be the best option for home sellers who are trying to sell distressed properties or properties falling in difficult-to-sell locations.

Frequently Asked Questions

1. What is the best company that buys houses for cash?

Houzeo is the most popular platform for sellers looking for companies that buy homes for cash. Houzeo lets you access the power of the MLS for a small flat-fee. MLS listings get syndicated on Zillow, Realtor.com, Trulia, Redfin.com and hundreds of other websites.

2. How do you sell a house to a cash buyer?

In most cases, you must enter your classified information via an online portal or a telephone chat. Following that, you must schedule an inspection and receive a final cash offer. Once you've decided to accept the offer, you can usually select your own closing date.

3. Are "we buy houses for cash" companies legit?

Yes! House-buying companies that pay cash are legitimate. But before you decide to sell your home for cash, be sure to do own your own research by checking its reviews and ratings on reliable websites.

4. How long does a cash sale on a house take?

Approximately, 10-30 days. It depends on the buyer and the specific situation.

5. How can I sell my house fast for cash?

You can opt for iBuyers or We Buy Houses For Cash Companies if you want to sell your house fast for cash. iBuyers pay relatively more but they operate in limited markets. We Buy Houses For Cash Companies on the other hand pay less and mainly focus on distressed properties. Alternatively you can work with a real estate agent and get full service.

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