The stress, anxiety, and high costs of selling a home in California can be overwhelming for anyone. Unfortunately, with the news of a federal jury in Kansas City finding the National Association of Realtors (NAR) and some of the largest real estate brokers in the country guilty of colluding to inflate real estate commissions, it is now more challenging than ever to trust industry professionals.
The verdict is a major shake-up to the U.S. real estate market and could change how Americans purchase homes, or specifically, how they pay for broker fees.
We understand. And, quite honestly, we created Listwizer to prevent home buyers and sellers from falling prey to predatory real estate practices. Here, we discuss the best companies that buy houses for cash in Los Angeles County, Orange County, and throughout California, if you need to sell your home quickly.
First, it is essential to understand the distinctions between quicker home-selling companies so you know the pros and cons of each.
What is the Difference Between We Buy Houses and iBuyer Companies?
Both We Buy Houses and iBuyer Companies offer home sellers near-instant offers. They also come with a quick-closing solution that allows sellers to move forward rather quickly.
We Buy Houses Companies are best for homeowners whose properties:
- Require extensive repairs they cannot afford.
- Are facing foreclosure.
- Need to sell in a matter of weeks.
- Where the proceeds are not used to pay off an outstanding mortgage.
iBuyer Companies are best for homeowners whose properties:
- Are in a city where iBuyers operate.
- Are move-in ready or need only minor repairs.
- Need to sell within a month or two.
- Need to sell before they can afford a down payment on a new home.
What are the Best We Buy Houses and iBuyers Companies in California?
The best We Buy Houses companies include:
- We Buy Ugly Houses
The good news is We Buy Ugly Houses can close on your home in as little as three weeks. However, the cash offer is typically far less than the fair market value. A local franchise operates each office/buyer, so there is no consistency in customer service or client experience.
- HomeVestors
HomeVestors is the parent company of We Buy Ugly Houses, a national cash buyer brand of independently owned and operated local franchises.
HomeVestors typically provides an initial offer within 48 hours and closes in the same three-week period as its independent We Buy Ugly Houses franchisees. The downside is home sellers receive as little as 55% of their home’s after repair value.
- We Buy Houses
We Buy Houses is different than the previous companies, as it vets its investors and gives them an exclusive license to operate in its territory, so investors who use the brand name are incentivized to work hard to maintain their advantage.
While We Buy Houses does not exercise control over how much its investors offer, it does reserve the right to rescind licenses if investors do not meet its ethical standards.
- I Buy Houses
I Buy Houses connects home sellers with a network of subscribers who are independent real estate investors.
These investors are not vetted, so the level of service is unpredictable, and the seller is in charge of all negotiations. Reports are hit and miss, with some home sellers saying the company never contacted them after they sent their contact information.
- Sundae Real Estate
Sundae is a marketplace that pairs home sellers of distressed properties with investors. Compared with other cash buyer companies, Sundae’s business model gives sellers the best chance for a high off-market offer.
The best iBuyer companies include:
- Opendoor
Opendoor is for selling who need a fast, predictable sale with minimal hassle. The price might be slightly below the value of comparable homes, but the difference may be worth it for those who value convenience and speed.
- Offerpad
Offerpad promises the certainty of a cash offer and a fast closing date of the seller’s choice – typically in eight to 60 days – and personalized customer service and perks like a free local move.
- Knock
Knock allows customers to purchase a new home before selling their old one.
The house will sell on the open market with a traditional real estate agent, and the company will cover the existing mortgage until the home sells. Unfortunately, the longer the house sits on the market, the higher the costs incurred.
Is There a Better Alternative to We Buy Houses and iBuyer Solutions?
If you need to move quickly but still want top dollar for your home, Listwizer offers to compare multiple cash offers and learn what you could make by listing on the open market all at once.
With Listwizer, you will get fair cash offers from top institutional buyers, local and regional real estate investment firms, and more. Unlike other cash offer services, Listwizer will also connect you with a great local realtor who can give you an estimate of your home’s value on the open market.
If you want help from a professional but do not want to pay full price, Listwizer can match you with a top local agent from a trusted brokerage like Keller Williams, RE/MAX, and more.
- Connect with great local agents for free, with zero obligation.
- Interview agents about their strategies for selling fast without compromising on price.
- Only pay a listing fee of 1% plus the buyer’s agent commission if your buyer has an agent.
- Save thousands on commission fees.
Most cash buyers do not use a buyer’s agent, so you will likely only pay the 1% selling fee to your agent to do all the legwork for you, negotiate fiercely on your behalf, and provide you peace of mind knowing you got the best bang for your buck.
Our partnered agents are trained to negotiate the highest cash offer on your behalf. Cash buyers will typically try to buy your property from you for the lowest price possible; this is where having a seasoned agent looking out for your best interests on your side plays a major role. They will guarantee you get the highest and best cash offer.
Before selling your home to a cash buyer, it pays to talk to a real estate agent and compare your options. Our fully licensed concierge team can help you decide if working with an agent is the right choice for your sale. Contact our Discount 1% Real Estate Listing Brokers in Los Angeles & Orange County at Listwizer today to learn more.