Published
-
Written by
Written by Andrew Whytock
Companies that make instant offers | Why compare options? | Selling with an agent | FAQ
If you want to sell your house fast for cash, you can sell to a cash buyer company like We Buy Houses or an iBuyer. You’ll usually get an offer within 24 hours, and you can close in less than two weeks (in most cases).
But there’s a catch: these house buying companies don’t pay top dollar for houses. Offers from iBuyers like Offerpad and Opendoor are competitive (sometimes just 1–2% lower than open market offers), but they’re available only in select major metros. Offers from “we buy houses” companies are always low (as low as 50% of the home’s resale value).
By comparison, selling on the open market might take only a few weeks, and you’ll likely net more money in the end — even if you have to pay commission to a realtor.
You can even get a cash offer on the open market, but you should prioritize a cash offer only for two reasons:
- You’re trying to sell a distressed property that won’t qualify for traditional financing.
- You’re in a situation where you absolutely need to sell in less than two weeks.
» Jump to: Why compare your options?
We recommend working with Clever Real Estate to compare your options. With Clever Offers, you’ll have an agent by your side to present you with cash offers AND give you a free home valuation.
6 companies that can help you sell your house fast for cash
1. Offerpad
Fast closing
- 6% 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.
Pros
- You can close in just eight days.
- There’s no need to repair or prep the home.
- Home sellers have an extended stay option.
Cons
- Some customers report high repair costs that reduced their final offer.
- Free local moves are available only 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 3.9 across 524 reviews.
2. Opendoor
Best tech
- 5% service fee
- Available in 50+ cities
- Choose your close date
In comparison to other iBuyers, Opendoor offers the best value because the fees are capped at 5% and it pays 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.
Pros
- You get a free, no-obligation offer.
- You can choose when you close.
- With late checkout, you can stay in your home up to 17 days after closing.
- Opendoor is available in 50+ markets and continuing to expand.
Cons
- You have no control over repair costs.
- There’s strict criteria for purchasing homes (e.g., no structural damage, no homes pre-1930).
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 3,322 reviews.
3. HomeLight Simple Sale
Multiple cash offers
- Offer within a week
- Close in as little as 10 days
- No closing costs
If you’re selling a distressed property on a tight timeline, HomeLight Simple Sale could be a good option to connect you with multiple cash offers. However, sellers should be aware that they could lose thousands of dollars by accepting a cash offer before consulting a real estate agent on their home’s actual market value.
Pros
- It’s a good for homes that need a lot of repairs.
- You can close in as little as 10 days.
- HomeLight Simple Sale is available in markets nationwide.
Cons
- The offer process takes about a week, which is longer than the 24–48 hours that most cash buyers offer.
- HomeLight’s initial estimate may be much higher than what the cash buyers actually offer.
- There may be few investors available in rural markets.
HomeLight Simple Sale is available nationwide.
4. We Buy Ugly Houses
National Coverage
- 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.
Pros
- You get an offer in 24–48 hours.
- You can close in as little as three weeks.
- There’s no need to prep the home for listing or worry about repairs.
Cons
- The company pays less than what sellers could net on the open market.
- The quality of service varies between franchises.
We Buy Ugly Houses has over 800 franchises across 47 states.
5. We Buy Houses
Fastest closing
- 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. It’s 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.
Pros
- You get an offer in 24–48 hours.
- The company carefully vets real estate investors.
- You can close in just seven days.
Cons
- There’s little to no room for negotiation after the initial offer.
- Investors have some freedom to price homes as they see fit, so offers may be better in some regions than others.
- The company pays less than fair market value for homes.
We Buy Houses has over 2,700 offices across 50 states, plus Washington, DC.
6. Sundae
Investor Marketplace
- 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.
Pros
- Sundae pre-vets its investors.
- You receive multiple offers from investors bidding on your property.
- You don’t have to make repairs.
- Sundae provides a $10,000 cash advance to sellers to help with any expenses before or during closing.
Cons
- The offers may be less than fair market value.
- Eligible locations are limited.
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 also operates in Atlanta, GA, Dallas–Fort Worth, TX, Houston, TX, Las Vegas, NV, and Seattle, WA.
Also consider: Home trade-in services
Home trade-in services make it easy to buy a new home before you sell your old one.
Say you need to buy, but you can’t qualify for a conventional loan before your old home sells. You can get pre-qualified with a trade-in service like Orchard or Knock.
Here’s how home trade-in services work:
- The trade-in service fronts the cash for you.
- You move into your new home, and the company lists your old home.
- You settle up when your old home sells.
» Read our reviews: Knock | Orchard
Why you need to compare your options
Even if you need to sell fast for cash, it’s worth slowing down to evaluate your options. Choosing too quickly could mean leaving a lot of money on the table.
You might be determined to sell to a cash buyer, but unless you’re selling a distressed property that won’t qualify for conventional financing, it makes sense to consider every offer — cash or not.
It’s a myth that financed offers frequently fall through
According to a recent study from the National Association of Realtors, only 5% of sales with contingent offers fall through. Of that 5%, only a small portion fail because the buyer can’t get financing.
Technically, your real estate agent can specify in your listing that you’re interested only in a cash offer, but that doesn’t make a lot of sense. Your agent would probably spend time confirming to buyers that it’s really a cash-only sale, all the while turning away legitimate buyers who might make a higher offer than a cash offer.
How to compare cash buyers to a traditional sale
Most iBuyers and cash buyer companies can provide a free, no-obligation cash offer within 24–48 hours of getting your name, address, and a brief description of your home.
You should request multiple offers from different house buying companies, then speak to an experienced real estate agent. A real estate agent may be able to help you get an all-cash sale on the open market.
At the very least, an agent can:
- Provide a free consultation
- Compare your home to others in your area to determine its worth
- Estimate how quickly your home might sell, based on recent local sales
Armed with this information, you can choose the option that gives you the best combination of speed and value.
How ‘we buy houses’ companies, iBuyers, and traditional sales compare
- Cash buyer companies move fast, but they don’t pay much.
- iBuyers are fast and competitive, but they’re not an option for many people.
- Listing with an agent nets the most money.
Cash buyers or ‘we buy houses’ companies
Selling your home to a cash buyer company has a couple benefits:
- They move faster than a retail buyer who needs conventional financing.
- There’s less risk of the deal falling through than selling with a real estate agent.
By comparison, individual cash buyers (who aren’t affiliated with a company) are less likely to follow standards that protect you as a home seller, such as:
- Never charging up-front fees
- Explaining how your cash offer was calculated
On the up side, selling to real estate investors or flippers for cash is a fast, no-hassle process. The deal can close in as few as one to two weeks, and you don’t have to worry about repairs or closing costs.
The catch? You’ll likely only get 50–70% of your home’s fair market value. Your home could sell for tens of thousands of dollars more on the open market. For example, an investor might pay only $75,000 for a home that has the potential to fetch $150,000 on the open market.
Still, a cash buyer might be a good option — or possibly your only option — if your home is in poor condition. Homes in need of significant repairs are usually out of reach for the average buyer, since most lenders won’t write loans on properties with major defects.
» MORE: Are “We Buy Houses” Companies a Rip-off?
iBuyers
iBuyers offer the best of both worlds: they pay closer to fair market value than cash buyer companies, and they allow you to sell almost instantly, or on your own timeline.
You might not get the highest possible price when you sell to an iBuyer, but the offers are still reasonable. You can get a quick, hassle-free sale if you don’t mind leaving a little money on the table.
Offers from iBuyers increase or decrease based on market conditions. At the end of 2021, when homes were selling quickly, iBuyers paid an average of 99.4% of fair market value.
Most iBuyers deduct money from their final offer to cover repairs (typically around 1–2%) and charge service fees (5% or more). But in exchange, you can sell without having to prep your home first.
iBuyers aren’t a viable option for most home sellers because of their restrictions:
- They’re only available in 30–40 cities.
- They have strict criteria for homes they’ll purchase, so anything built before 1930 or in poor condition probably won’t qualify for an offer.
Essentially, iBuyers work best for sellers whose homes are market-ready or need only a few cosmetic updates to get there.
» MORE: What Is an iBuyer? How iBuying Works, and More!
Listing on the open market is the best deal
Listing with an agent on the open market has potential to yield the highest sale price, though it’s usually a bit slower than selling to an iBuyer or investor.
Real estate agents price houses competitively based on comparable local sales. This strategy helps sellers get fair market value for their homes.
A local agent can also estimate a selling time based on market conditions in your region and the type of home you’re selling.
While the typical national selling time is 10.7 days, timelines are quicker in some cities:
- Washington, DC: 9.1 days
- Atlanta: 9.2 days
- Boston: 8.4 days
Even if you’re certain you want to sell to a cash buyer, you can work with an agent to get the best offer. You can:
- List your home as is with an agent, which tends to attract real estate investors
- Work with an agent who has connections with house flippers and landlords looking for new deals
How can I sell my house fast for cash?
Follow these steps to get a cash offer fast:
1. Choose the best agent for the job
Having the right agent on your side can make it much easier to sell your home quickly. Interview at least two to three agents from different brokerages to make sure you find the best fit.
When interviewing agents, be honest about your timeline, and ask questions to understand how fast they can potentially sell your home. You can ask:
- What experience do you have selling homes quickly?
- Have you worked with cash buyers before?
The best agent for selling a house fast is usually an agent with at least a couple years of experience. They’re more likely to have a network of potential buyers and know what strategies are most likely to succeed in getting your house sold quickly.
👋 Find top agents near you and get started today!
2. Set your target listing price
With the help of your real estate agent, set a target listing price. Your realtor will do a comparative market analysis to get an idea of the market value of your home. With that information, you can set a listing price that balances getting top dollar for your home and selling within your timeline.
3. Find the right buyer
Your realtor can help you determine if a cash buyer is the best option for selling within your timeline. Experienced real estate agents often have connections with cash buyers and can help you compare competing offers. They can also help you weed out scams and lowball offers.
However, cash buyers typically pay less than you’d get on the open market. You’re much more likely to get the best price for your home through a traditional sale. Even on a tight deadline, your realtor may be able to find buyers on the open market willing to buy quickly.
Your ability to sell fast on the open market partly depends on local market conditions. If buyer demand is high in your area, finding a buyer quickly will be easier than if buyer demand is low.
FAQ
What is the fastest way to sell my house?
One of the fastest ways to sell your house is to request an offer from a home buying company like an iBuyer or a "we buy houses" company. You can usually get an offer in 24 hours and close in less than two weeks, but you won't get as much money as you would listing your home with an agent.
You should compare your options before you accept a cash offer.
What is the secret to a fast property sale?
There's no secret to selling a property quickly — but a good real estate agent can help you get a quick sale by pricing your home competitively, suggesting high-impact home improvements, and hosting an open house to attract more buyers.
Alternatively, you could sell your home directly to a company that buys houses — but you probably won't make as much money since these companies buy and resell homes to make a profit.
Sources
1. National Association of Realtors, Realtor Confidence Index, October 2021, https://cdn.nar.realtor/sites/default/files/documents/2021-10-realtors-confidence-index-12-06-2021.pdf
2. Zavvie, Seller Preferences Report: Q4 2021, https://zavvie.com/wp-content/uploads/2022/02/Q4-21-Seller-Preferences-Report-3.pdf
Related links
Want to learn more about selling your house quickly? Check out these resources.
The Best iBuyer Companies: iBuyers offer home sellers a chance to sell on their own timeline with minimal hassle. Learn more about the leading iBuyers and how they compare.
We Buy Houses for Cash Companies: Are “we buy houses” companies a scam or a legitimate selling option? Find out how they work, what to watch out for, and which companies stand out in our list.
How Can I Sell My House Fast Without Losing Money? Find out how to sell your home quickly without losing money, and learn the most important steps in a typical home sale.
Realtor Fees: Who Pays the Commission and How Much Is It? Wondering how much realtor fees cost? This guide explains what you’ll pay (and how to get discounts) when working with a realtor.
The Best 1% Commission Realtors and Brokerages: From Clever to Redfin, we review the top 1% real estate commission companies. Learn how they work and find the best low commission company for you!
Leave a Reply