The Best Companies That Buy Houses for Cash in 2024

Selling your house quickly for cash can be an attractive option if you need to move soon or want to avoid the hassles of a traditional sale. Many companies now specialize in buying houses fast with all-cash offers.

While these quick home buyers make it easy to sell fast, you also may not get top dollar for your property. It’s important to research reputable cash home buyers to get a fair cash offer and close on your timeline.

Key Takeaways

• Selling to a cash home buyer can help you close quickly, but expect to sell at a discount.
• Research companies and get multiple cash offer quotes for the best price.
• Nationwide companies like OpenDoor and Offerpad provide convenience but local buyers may provide better service.
• Avoid any high-pressure sales tactics or too-good-to-be-true offers when selling your house for cash.

Our Top Picks Companies that Buy Houses for Cash

1. Houzeo.com: Best for multiple offers (fast closing)
2. Opendoor: Best for competitive offers (guaranteed sale)
3. Clever Offers: Best fo flexible process (local expertise)
4. HomeVestors: Best for local expertise (no repairs needed)
5. Offerpad: Best for multiple offer options (quick cash offer)
6. We Buy Ugly Houses: No repairs needed (simple transaction)
7. We Buy Houses: Best for simple transaction (positive reviews)
8. MarketPro Homebuyers: Best for positive reviews (multiple locations)
9. Sunda: Best for multiple offer options (rehab options)
10. Orchard: Best for fast and efficient (stress-free selling)
11. 1-800-CashOffer: Best for quick cash offer (transparent pricing)
12. HomeLight Simple Sale: Best for stress-free selling (fast and efficient)
13. Knock: Best for transparent pricing (fast and efficient)

1. Houzeo

Houzeo purchases homes in any condition nationwide. Their straightforward process provides an offer within 24 hours of submitting basic property details. Houzeo buys houses as-is, paying market value while saving sellers time and money.

Key Features:

• Initial no-obligation offer within 24 hours
• Pay market value for the home
• Close in as little as 10 to 15 days
• No fees or commissions

2. OpenDoor

OpenDoor is one of the largest and most well-known instant home buyers. They use technology and data to make competitive cash offers online for homes.

Key benefits:

• Make an offer online in minutes.
• Close in as little as 14 to 15 days.
• Competitive cash offers based on home details.
• No showings or open houses required.

OpenDoor operates in over 40 markets across the country. While convenience is a plus, their automated valuations may not always yield the highest price.

3. Clever Offers

Clever Offers purchases homes directly from sellers, providing quick and convenient closings. Their cash offers help homeowners avoid overwhelming repair requests and drawn-out timelines. Sellers can close in as soon as 5 days with Clever.

Key Features:

• Cash offers based on location and market trends
• As-is purchases with no repairs required
• Close in as little as 5 days
• No extra fees, commissions, or hassles

4. HomeVestors

Known for the slogan “We Buy Ugly Houses”, HomeVestors specializes in purchasing old, run-down, and even fire-damaged properties. They provide fast cash offers and closings to sellers of homes needing extensive repairs.

Key Features:

• Cash offers on old, neglected, or damaged homes
• Buy houses as-is with no required repairs
• Close quickly within your preferred timeframe
• No commissions or fees deducted from offers

5. Offerpad

Offerpad is a real estate marketplace that buys and sells homes directly. Homeowners receive a competitive cash offer on their property using Offerpad online valuation tool. They can then close according to their desired timeline.

Key Features:

• Real-time valuations and cash offers provided online
• Flexible closing timeline based on seller preference
• No showings, open houses, or listing required
• Direct selling avoids realtor commissions

6. We Buy Ugly Houses

As their name states, We Buy Ugly Houses purchases homes in any condition. Property damage, deferred maintenance, and outdated finishes don’t deter this company from making competitive cash offers. Their playful name simply means they buy properties needing TLC.

Key Features:

• Cash offers made on rundown, outdated homes
• Buy houses as-is, no repairs or updates needed
• Close on your schedule within days or weeks
• Avoid overwhelming listing process

7. We Buy Houses

We Buy Houses presents homeowners with hassle-free cash offers for their properties. Known for quick closings, they purchase homes directly from sellers without requiring repairs. We Buy Houses pays fair market value while helping homeowners avoid realtor fees.

Key Features:

• Upfront cash offers made based on market value
• Purchase homes as-is, avoiding updates and repairs
• Accommodate quick closings in as little as 7 to 14 days
• No commissions deducted from sale price

8. MarketPro

MarketPro Homebuyers provides fast and reliable cash offers on homes nationwide. Their deals help sellers close quickly while receiving fair compensation. MarketPro purchases properties in any condition, taking the burden off overloaded homeowners.

Key Features:

• Direct cash offers made on location and property details
• Buy houses as-is without requiring repairs
• Close on your own timeline within days
• Avoid overwhelming listing and selling process

9. Sundae

Sundae seamlessly handles necessary repairs through their cash offer and sale process. Homeowners get upfront cash offers without doing any work. Sundae then updates and repairs the property before reselling to buyers.

Key Features:

• Cash offers made without requiring any seller repairs
• Handle all necessary updates and fixes before reselling
• No showings, open houses, or staging required
• Close and receive payment quickly within days

10. Orchard

Orchard is a iBuyer that purchases homes directly from sellers. Their upfront cash offers provide a fast, convenient closing. Orchard also offers a trade-in program where sellers buy their next home in one seamless transaction.

Key Features:

• Cash offers allowing you to close on your timeline
• Simple trade-in program for easy home transitions
• No listing, showings, or open houses
• Close in under 30–60 days after accepting offer

11. 1-800-CashOffer

As a nationwide homebuyer, 1-800-CashOffer provides direct cash offers on properties. Homeowners can get an initial cash bid over the phone or online. 1-800-CashOffer buys houses as-is, allowing sellers to close quickly.

Key Features:

• Upfront all-cash offers made nationwide
• Buy houses in any condition without repairs
• Close in as little as 5 day or up to 90 days after offer acceptance
• Avoid overwhelming listing process

12. HomeLight

HomeLight Simple Sale provides guaranteed cash offers combined with quick closing timelines. There are no showings, open houses, or repairs required. HomeLight purchases properties directly, getting sellers cash fast.

Key Features:

• Direct cash offers made on your home
• Close quickly within your desired timeframe
• No listing, showings, or repairs required
• Save on commissions, fees, and hassles

13. Knock

Knock makes cash offers on homes, taking care of prepping and repairs before listing to resale. Homeowners receive payment upfront without the work of fixing up and showing their property. With Knock, sellers close then move on.

Key Features:

• Upfront cash offers on homes needing any amount of work
• Handle all repairs and updates for resale
• No showings or open houses required
• Quick close then move out with cash in hand

Also read: How to Find a Good Real Estate Agent

Tips for Selling Your House Fast

Here are 10 tips for selling your house fast:

• Price it right – Price your home competitively based on comparable sales in the area. Overpricing will deter buyers.
• Stage your home – Declutter, clean, and make minor upgrades to help your home show well and appeal to buyers.
• Hire a real estate agent – Choose an experienced, full-time agent who can provide maximum exposure through their marketing and connections.
• Market aggressively – Make sure your agent uses both traditional and digital marketing to draw in plenty of showings.
• Be flexible – Consider offers that may not meet your exact asking price but still work for you. Negotiate in good faith.
• Prepare for showings – Keep the house in showing condition and leave during showings so buyers feel comfortable looking around.
• Offer incentives – Consider offering closing costs or other incentives to help drive more interest.
• Highlight upgrades – Ensure desirable upgrades like the kitchen, bathrooms, roof, etc are highlighted in the listing.
• Act quickly – Respond promptly to agent inquiries and offers to keep the momentum going.
• Be reasonable – Understand the current state of the market and recent comparable sales so you can set realistic expectations.

Also read: Top 20 Tips for First-Time Home Buyers

Alternatives to Companies That Buy Houses for Cash

Instead of selling to a cash investor, homeowners have these options:

• Traditional real estate agent – Hire an agent to list and market the home, though this takes more time.
• Sell to an individual investor – Connect with real estate investors in your area to see if they make cash offers.
• Sell via auction – Auction sites like Hubzu can provide cash offers from investors.
• Sell to a wholesaler – Wholesalers buy homes at deep discounts, then assign contracts to other investors.
• List on MLS For Sale By Owner – List your home on the MLS without an agent to gain buyer exposure.
• Crowdfund a cash offer – Services like Homie and EasyKnock raise cash offers from individual investors.
• Home equity loan – Borrow against your home’s equity to get cash out while still owning the house.

Also read: What are the Commission Rates of a Real Estate Agents

Types of Cash Home Buyers

There are a few main types of companies and investors that purchase houses with cash:

• National iBuyers – Large companies like OpenDoor, Offerpad and Zillow Offers operate nationwide. They use algorithms and market data to make competitive cash offers.
• Local house buying companies – Some cash home buyers operate in select cities or states. They have strong local market knowledge.
• Individual real estate investors – These investors have cash to buy good real estate deals quickly to flip or rent out.
• Home flippers – Many flippers focus on buying dated or neglected properties at a discount, fixing them up and reselling for profit.
• Landlords – Landlords may buy with cash in order to quickly acquire a property and add it to their rental portfolio.
• We buy houses companies – These companies connect motivated sellers with real estate investors looking for deals in an area.

The type of cash buyer you choose will impact your experience. Make sure to get multiple offers and reviews before selecting who to sell your house to.

Pros and Cons of Selling to a Cash Buyer

Selling your house to an investor for cash has several advantages but also some potential drawbacks to consider:

Pros

• Fast closings, often within days or weeks
• Avoid repairs and showings
• No need to list with an agent
• Flexible closing dates
• Sell as-is regardless of condition

Cons

• May receive below market value
• Limited ability to negotiate offers
• Risk of lower offer if repairs needed
• Buyer flip profit can exceed seller proceeds
• Lose potential buyers competing via bidding

Overall, the speed and convenience of selling to a cash investor comes with the trade-off of a lower sales price in many cases. Homeowners should weigh their motivations and needs when deciding between a cash offer and traditional listing.

How Much Do Cash Buyers Pay

Cash home buyers aim to purchase properties below market value so they can generate a profit when reselling a home after repairs or renovations. In general, expect cash offers to range between:

• 60% to 70% of fair market value for homes in poor condition needing extensive repairs
• 70% to 80% of market value for dated or outdated homes with some fixes needed
• 80% to 90% of market value for updated homes in good shape

The purchase offer amount depends on factors like the home’s condition, location, market conditions, and the company’s business model.

Cash buyers take on the hassle and cost of repairs, so they build in room to profit. Homeowners weighing cash offers should research local selling prices and estimated home values. Consider listing traditionally if cash offers seem too low.

Essential Qualities of Reliable Cash Home Buyers

Selling your house directly for cash can have many benefits – but only if you work with the right buyer. Here are a few key things to look for:

• Strong online reviews – Look for companies with consistently positive reviews on sites like Google, Facebook and the Better Business Bureau. This helps avoid scams.
• Reasonable fees – Many charge around 6-10% in fees. Be wary of buyers tacking on excessive extra costs.
• Quick timeline – The speed of selling should match their claims, with some able to close in under 7 days.
• Local expertise – While national buyers provide convenience, local companies may have better market knowledge.
• Multiple offer quotes – Get offers from 2-3 buyers to compare and negotiate the best deal.

Doing your research helps you maximize your payout when selling your house directly for cash.

How the Cash Home Buying Process Works

Here is an overview of the typical process when selling your house to a cash buyer:

1. Request an online offer – Complete a short form with details like address, bedrooms, baths, sqft. Cash buyers use this to estimate their offer.
2. Get a cash offer – Within 1-3 days, the buyer provides their all-cash purchase offer amount and any fees involved.
3. Negotiate & accept offer – You can try to negotiate a higher price. Once accepted, a purchase contract is signed.
4. Inspection & appraisal – Some buyers may inspect the home or order an appraisal, but many buy as-is.
5. Close on your timeline – Once financing and paperwork is complete, close and receive your payout in as little as 5 days.
6. Move on your schedule – Without a buyer lined up on the other end, you can take your time moving whenever convenient.

Selling your house for cash allows you to unload a property quickly, conveniently and directly to a buyer with no hassles. Just make sure to get quotes from multiple companies or buyers to maximize your payout and support a smooth sale.

Determining the Value of Your Home in a Cash Sale

Here are some factors that influence how much a cash home buyer will pay for your house:

• Home condition – Houses in good condition will sell for more than houses needing major repairs. Cosmetic fixes like painting can increase value.
• Location – Properties in desirable areas and neighborhoods will command higher prices from investors.
• Market factors – When the housing market is hot, you’ll likely get more competitive cash offers for your home.
• Motivation to sell – If you need to sell quickly, buyers may offer less than full market value.
• Recent comps – Cash buyers will look at comparable recent sales to formulate offer amounts. Higher sales boost value.
• Upgrade features – Updated kitchens, bathrooms and other major features can increase what buyers will pay. Lack of upgrades hurts value.
• Needs of the buyer – Some investors look for quick flips, others rental properties. Their business model influences offers.

On average, expect cash buyers to offer 70-90% of your home’s fair market value. Getting multiple quotes from different buyers helps maximize your payout. Selling to a cash investor provides speed and convenience, but likely at a tradeoff of full home value.

Getting a Fair Cash Offer

When selling for cash, it helps to take steps to maximize your home’s value:

• Get quotes from multiple cash home buyers to compare offers and terms
• Consider making minor repairs to increase the home’s appeal and condition
• Highlight any renovations or upgrades made recently
• Research the current value by checking comparable sales and estimated home values
• Negotiate the initial offer and ask if the company can increase, even slightly
• Avoid disclosing your lowest acceptable price or urgency to sell
• Be prepared to sell traditionally if cash offers seem too low

The purchase amount is the buyer’s estimated profit margin. With some research and negotiation, sellers can often get a cash buyer to increase their initial offer and get closer to fair market value.

Red Flags When Selling to a Cash Buyer

Though most cash home buyers are reputable, look out for these red flags:

• Pushy sales tactics – Beware of high-pressure tactics to get you to accept a low offer.
• Lack of company details – Legitimate buyers should provide full business credentials.
• Requests for upfront fees – Most cash buyers don’t charge anything until closing.
• Unwillingness to show proof of funds – Ask for verification that they can pay the offer amount.
• Offers significantly below market value – Extremes may signal predatory behavior.
• Rushing straight to paperwork – Do due diligence like inspections before signing.
• Lack of positive online reviews – Concerning feedback can be a warning sign.

Vet any cash buyer thoroughly and watch for concerning behavior before agreeing to sell. Consult a real estate attorney if you have any doubts.

Bottom Line

Selling your house for cash is an excellent way to close quickly and avoid extra fees and hassles. Companies like Houzeo, Opendoor, and We Buy Ugly Houses purchase properties outright, often within mere days of an accepted offer. Their cash offers help sellers avoid repairs, showings, and drawn-out listing timelines.

If you need to sell your house fast, look for a reputable cash home buyer that provides fair market value. Their streamlined process will save you time and money. Within as little as a week, you can have cash in hand and move on to your next chapter.

Frequently Asked Questions (FAQ)