Companies that buy houses for cash purchase properties directly from you — and can help you sell your home extremely fast.
Types of cash home buyers
There are three main types of cash home buying companies:
Franchise “we buy houses” companies purchase homes at a steep discount compared to their fair market value and usually only purchase properties that are in poor condition.
iBuyers make competitive offers that are closer to what your home would be worth on the open market, but they only operate in select metro areas and have very strict purchase criteria.
You can also find a cash offer from a local real estate investor who operates a smaller home buying company.
Before you sign a contract with a home buying company, we highly recommend getting multiple offers so you can compare your options and make sure you get a fair price.
Quickly find and compare multiple cash offers
If you’re looking to get a cash offer on your house, Clever Offers is a great place to start. Clever Offers will match you with a top local realtor, who will help you screen and compare offers from top cash home buyers in your area. You’ll also get a free professional home valuation, so you can compare each cash offer against your home’s market value.
Who should consider cash home buying companies?
Companies that buy houses for cash are worth considering if your top priority is selling quickly, not making the most money from the sale. Whether a “we buy houses” company or an iBuyer is a better option depends on your location and home’s condition.
Franchise and local home buying companies that offer to buy your house for cash can be a good option if you’re facing a situation like a foreclosure or the inheritance of a vacant or distressed property.
iBuyers are best for sellers who want a convenient, fast sale for a home that’s in good condition. They’re a better option than “we buy houses” companies because they pay closer to market value for homes. However, many sellers won’t qualify for an iBuyer offer. All iBuyers have strict purchase criteria and are only available in select markets.
Most homeowners will make the most money by working with a real estate agent who specializes in quick sales. You’ll almost always get a higher sale price on the open market. But even if you need to sell quickly and don’t have time for a traditional sale, it’s still a good idea to talk to an experienced local realtor before you accept a cash offer.
Many realtors have relationships with top local cash buyers (and know which ones to avoid). Your agent can help you request cash offers from trustworthy local house buying companies. They can also help you compare your options to find the best way to sell your home within your timeline for top dollar.
For home sellers who need to sell quickly, working with an iBuyer like Offerpad is a good way to keep more of your home’s equity. Unlike most cash buyers, Offerpad makes competitive cash offers that are much closer to your home’s market value.
We think Offerpad is a great option because it offers more flexibility on closing dates and repairs than most of its competitors — including Opendoor. You can choose a closing date anywhere from eight to 90 days in advance, which lets you move out of your house when it’s most convenient for you.
Its 5% service fee is also lower than what many other iBuyers charge.
Opendoor is another good option for homeowners who need to sell their home quickly. The company generally pays less than what you’d receive on the open market, but like other iBuyers, it pays more than most cash buyers.
Opendoor doesn’t offer as much flexibility around closing times as Offerpad, with a closing window between 14 to 60 days. But it’s available in more locations, with operations in 47 cities across the U.S.
» READ: Opendoor reviewed and explained
We Buy Ugly Houses
The company generally has a strong reputation and good brand recognition, but the offers are typically very low compared to what your home would be worth on the open market. Like most real estate investors, We Buy Ugly Houses generally doesn’t pay more than 70% of the after-repair value of your home. That could mean leaving tens of thousands of dollars on the table.
Even if you’re selling a home in poor condition, you might be better off listing it with a realtor. You may end up getting multiple offers from local real estate investors on the open market — potentially driving up the final sale price.
We Buy Houses
We Buy Houses (WeBuyHouses.com) is a national cash buyer with hundreds of offices throughout the country. The company is often confused with other companies that buy houses for cash because it has such a generic name.
Each We Buy Houses office is independently owned and operated by a local real estate investor. The investor has complete control over how they operate their business, so some locations are more reputable than others.
Overall, the brand has positive customer reviews, but we’d recommend comparing multiple offers from other local companies before selling to We Buy Houses.
Sundae is the only company on our list that doesn’t actually buy houses — instead, it connects homeowners with real estate investors in their area who are willing to pay cash.
The main benefit of using Sundae is that you’ll get multiple cash offers from vetted investors after submitting your info, without having to actually list your home.
The obvious downside is you probably won’t get top dollar for your home using Sundae because you’ll end up selling to real estate investors who are looking for a deal.
» READ: Sundae Real Estate reviews
MarketPro is a regional “we buy houses” company that buys houses in Virginia, Maryland, Pennsylvania, and Washington, DC.
The company generally has positive reviews from home sellers, but since it only operates in three states and Washington DC, selling to MarketPro isn’t an option for most home sellers.
Like other cash buyers, MarketPro generally only buys distressed properties and pays as little as 50% of the fair market value.
Pros and cons of selling to companies that buy houses for cash
|✅ Pros||❌ Cons|
|Fast closing in as little as 7–10 days||You’ll walk away with a lot less money than what your home is actually worth on the open market.|
|More flexibility with a later closing if you need more time.||No agent to represent your best interests.|
|No sale contingencies, avoiding pitfalls that can hurt deals relying on financing.||Most companies allow little room for negotiation on their offers.|
🏚 Franchise cash house buying companies: Best for homes in poor condition
Cash house buying companies do exactly what the name suggests: buy houses for cash, directly from sellers. Leading cash home buying companies like We Buy Houses and We Buy Ugly Houses operate nationwide, so there’s a good chance at least one operates in your area.
Cash buyer companies purchase homes most buyers aren’t interested in or can’t afford (most banks won’t provide mortgages for homes in severe disrepair). If you feel like you’re out of options for selling a badly damaged or vacant property, a cash home buying company may be able to purchase as is, without requiring any repairs.
Companies that pay cash for homes also move quickly and make the process as hassle-free as possible for sellers. In most cases, you can receive a cash offer within 24–48 hours of submitting basic information about your property (such as your address and general features about your property) and close in as few as seven days. Most “we buy houses” companies also cover closing costs.
There’s a major tradeoff for this convenience: companies that buy houses for cash pay significantly less than fair market value — sometimes as little as 50% of the home’s after-repair value, minus repair costs.
Best ‘we buy houses’ companies
We Buy Ugly Houses
Also known as HomeVestors of AmericaFull Review
- Offer in 24-48 hours
- Close in 3 weeks
- No closing costs
We Buy Ugly Houses is a national brand that’s been in the business for over 20 years, so the business’s reputation and processes for buying homes are well established. However, because We Buy Ugly Houses operates on a franchise model, the quality of the service that you receive could vary depending on your location.
Home sellers who choose to sell to We Buy Ugly Houses can expect to get far less than fair market value for their property, but the company can close in as little as three weeks.
- Get an offer in 24 to 48 hours
- Close in as little as three weeks
- No need to prep home for listing or worry about repairs
- Pays less than what sellers could net on the open market
- Quality of service varies between franchises
We Buy Ugly Houses has over 800 franchises across 46 states.
We Buy Houses
Owner of WeBuyHouses.comFull Review
- Offer in 24-48 hours
- Close in 7 days
- No closing costs
We Buy Houses has numerous positive reviews from customers, and the brand carefully vets real estate investors who want to obtain a license. They’re also able to close in just seven days, which is faster than most cash buyer companies.
Although We Buy Houses investors won’t pay what you’d get on the open market, working with one is more likely to be successful than if you were to try and find a local real estate investor on your own.
- Get an offer in 24 to 48 hours.
- Carefully vetted real estate investors.
- Close in just seven days.
- Little to no room for negotiation once an offer has been made.
- Investors have some freedom to price homes in a way that they see fit, so offers may be better in some regions than others.
- Pays less than fair market value for homes.
We Buy Houses has over 2,700 offices across 49 states.
Get multiple bids from real estate investorsFull Review
- Compare cash offers
- Designed for distressed properties
- Fast closing with no service fees
If you’re looking for a cash offer from a real estate investor, Sundae offers a unique marketplace where pre-vetted investors can bid on your property. Compared to other cash buyer companies, Sundae’s model creates competition that may lead to a better sale price — though cash offers will almost always be lower than offers from the open market.
- Work with pre-vetted investors. You don’t have to worry about whether a random cash buyer has the funds to purchase your home — before an investor joins the marketplace, Sundae vets their credentials.
- Receive multiple offers. Sundae’s marketplace allows multiple investors to bid on your property. According to Sundae, the average seller receives around 10 bids, with a price range averaging around $71,000 between the lowest and highest offers.
- Skip repairs. Since Sundae’s marketplace is built for investors who are prepared to buy homes in as is condition, you don’t have to worry about making any changes to your home or cleaning it out.
- Get a cash advance. Sundae provides a $10,000 cash advance to sellers to help with any expenses before or during closing.
- Offers may be less than fair market value. The offers you receive through Sundae will likely be less than the fair market value of your home (which is typical across most cash buyer companies).
- Eligible locations are limited. You can only use Sundae’s services in several California cities, as well as the Tampa and Atlanta metro areas.
Sundae mainly operates in California — specifically in Los Angeles, Orange, San Bernardino, Riverside, and San Diego counties, as well as the Sacramento metropolitan area.
The company is continuing to expand into new locations, most recently the Tampa, FL, and Atlanta, GA, metro areas.
A regional cash buyerFull Review
- Fast closing times
- Limited regional availability
- Free moving service
MarketPro might be an option for home sellers who need to sell fast and don’t mind leaving some money on the table, but they only operate in a handful of states. Furthermore, the way that MarketPro calculates their offer is inherently misleading, as they claim they just deduct 10% from the price you’d get on the open market in order to save you time and help you avoid selling costs. In reality, they deduct 10% from what they estimate your net profit would be, which makes their service seem like a better deal than it actually is.
- Free moving service
- No need to make repairs before selling
- 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 operates in Virginia, Pennsylvania, Maryland, and Washington, D.C.
iBuyers are real estate companies that buy and sell a high volume of homes. Though iBuyers are only available in 30–40 cities so far, major companies like Opendoor and Offerpad are expanding into new cities every month.
Because iBuyers have slim profit margins, they look for homes they can purchase and resell with minimal work. They won’t typically buy distressed properties or older homes built before 1930–1950, depending on the specific iBuyer’s criteria.
|iBuyer purchase criteria|
|🏠 A single family residential home, condo, or townhome|
|🌻 On a 0.5 to 1.5 acre lot|
|🆕 Built after 1930|
|📌 Within an eligible service area|
|💰 Valued at $100,000 to $600,000|
Like cash buyer companies, iBuyers move quickly. Most provide a preliminary cash offer within 24–48 hours and close in as little as two weeks. With a company like Offerpad, you can sometimes close in just eight days.
But unlike cash buyer companies, iBuyers pay much closer to fair market value for homes — in part because they’re selective about the homes they purchase.
You’ll still have to pay for repairs the iBuyer’s inspectors identify and a service fee that’s comparable to real estate commissions (you can pay from the proceeds of your sale). But you may walk away with nearly as much as you’d earn on the open market.
Flexible closing timesFull Review
- 5% service fee
- Close in just 8 days
- Great customer service
Offerpad can provide home sellers with a fast cash offer and quick closing (as little as eight days!). We noticed that most recent Offerpad reviews are positive, with home sellers noting that Offerpad reps were friendly and helpful throughout the selling process.
- Close in just eight days
- No need to repair or prep home
- Extended stay option for home sellers
- Some customers report high repair costs that reduced their final offer
- Free local moves are only available within a 50-mile radius
Offerpad is available in 25 metro areas across AL, AZ, CA, CO, FL, GA, IN, KS, MO, NV, NC, OH, SC, TN, TX.
Customer reviews of Offerpad are mostly positive, with an average rate of 3.7 across 319 reviews.
The largest iBuyerFull Review
- 5% service fee
- Available in 40+ cities
- Close in 14 days
In comparison to other iBuyers, Opendoor offers the best value because the fees are capped at 5% and they pay close to fair market value for homes. Sellers should be aware that Opendoor deducts repair costs from their final offer, and the company no longer allows home sellers to handle repairs on their own.
- Free, no-obligation offer
- Close in as little as 14 days, or longer if you need it
- Available in 47 markets and continuing to expand
- No control over repair costs
- Strict criteria for purchasing homes (no structural damage, no homes pre-1930, etc.)
Opendoor is currently available in 47 major markets in AL, AZ, CA, CO, FL, GA, ID, IN, MN, MO, NV, NJ, NY, NC, OH, OK, OR, SC, TN, TX, UT, VA.
Customer reviews of Opendoor are mostly positive, with an average rating of
4.3 across 2,733 reviews.
» MORE: The best iBuyers in 2022
Local real estate investors: Best for as-is properties with potential
If you don’t want to work with franchise companies that buy houses for cash, you have other options.
Local real estate investors are always on the lookout for properties. These cash buyers generally fall into two categories:
- Flippers, who renovate and resell properties
- Landlords, who renovate and rent properties
Selling to a local cash buyer is best for homeowners willing to network and negotiate with investors in their community, typically through in-person meetups or online forums. You can also use third-party companies, such as Sundae, that make introductions to real estate investors.
These specialized buyers often purchase properties as is — particularly if your home is in a desirable location or has considerable resale potential or rental value.
Because investors buy and sell properties frequently, they can usually make you a fast cash offer and close on your timeline. Their funding sources may also allow them to skip the lengthy closing process traditional lenders require.
Real estate investors can drive a hard bargain, however, since they primarily earn money by acquiring homes for less than fair market value. Only engage with these investors if you’re certain about your bottom line and know how much your home is worth.
For example, house flippers almost never pay more than 70% of the home’s after-repair value. Landlords base their pricing on the property’s potential revenue and usually look to earn 2% or more of the home’s purchase price each month.
Are home buying companies a good option for selling your house?
If you own a home that’s in poor condition and needs extensive repairs, a cash home buying company like We Buy Houses might be your best option. They’ll give you a quick offer, cover all of the closing costs, and even fix up the home after you sell. The downside is you won’t get a very competitive offer.
If your home needs only minor cosmetic repairs, you’re better off selling your home to an iBuyer or on the open market with a real estate agent.
In general, a cash buyer is less likely to walk away from a home sale. A cash offer comes without a financing contingency — a common clause most buyers include to protect themselves in case they can’t secure a mortgage and need to back out of the sale. A cash buyer already has access to the funds needed to purchase your home.
Cash buyers are becoming more common
In 2021, all-cash purchases of houses hit a record high of 30% of all residential real estate transactions. However, these cash buyers aren’t all companies — this number also includes individuals who bought houses using all-cash offer services (power buyers) like Knock and Orchard. These services front cash for the homebuyer, then settle up later when the buyer secures a traditional mortgage.
Should I sell with a real estate agent instead?
You should consult a real estate agent before entertaining offers from cash home buyers — even if you need to sell your home quickly and don’t have time to make any repairs.
A real estate agent will give you a free, no-risk home valuation, allowing you to compare your home’s value to the cash offers you receive.
In today’s real estate market, there are buyers who are willing to purchase homes quickly and in as-is condition. By talking to a realtor, you’ll be able to determine whether listing on the open market is the right fit for your timeline — or whether a cash buyer is a better fit.
Need help finding a great real estate agent? Clever matches you with top local agents from well-known brokerages like Century 21 and RE/MAX. You’ll find out how much your home is worth and make sure you’re getting a fair price for your home!
FAQs about companies that buy houses for cash
Are cash offers for houses legit?
Many regional and national companies make legitimate cash offers to purchase houses, but "we buy houses" scams do exist. You should never have to pay any up-front costs when you request a cash offer, and if in doubt, the buyer should be able to provide you with proof of funds.
Check out our list of companies that buy houses for cash to discover legit cash buyers that could purchase your home!
How can I sell my house fast for cash?
The fastest way to sell your house for cash is with an iBuyer or "we buy houses" company. iBuyers pay more, but they only buy houses in select markets that are basically move-in ready. "We buy houses" companies, on the other hand, make low offers and tend to focus on distressed properties that can be fixed up and resold.
Alternatively, you can work with a discount broker and pay a reduced commission while still getting full service.
Do "we buy houses" companies make fair offers?
Most "we buy houses" companies operate like real estate investors — they'll pay up to 70% of a home's after repair value, minus repair costs. To put that into perspective, if your home might be worth $300,000 after being rehabbed, and a "we buy houses" company estimates repair costs to be $40,000, they'll offer only $170,000.
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