Best companies that buy houses for cash | Best iBuyers | Cash buyer vs. traditional sale | Find cash buyers near you | How much will a cash buyer pay?
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Companies that buy houses for cash can help you sell your home quickly and without any hassle — they make near-instant offers and can close on your timeline. But there's a big downside: you won't get full price for your home.
"We buy houses" companies pay as little as 50% of fair market value and generally only purchase houses that need major repairs.
iBuyers are a bit better — they usually make offers that are close to fair market value, but not as high as what you'd likely get from buyers on the open market.
If you're just looking to get a fair cash offer for your house, Clever Offers is your best option. Clever will connect you with a great local realtor, who will bring you fair offers from top iBuyers and other cash home buyers near you. Get fair cash offers from top local buyers now!
Read on to learn more about cash buyer companies and find the best solution for your situation.
🏠 Who are companies that buy houses best for?
- "We buy houses" companies are best for homeowners in a difficult situation — their home needs significant repairs, they're facing foreclosure, or they just inherited the home due to the death of a family member.
- iBuyers are best for homeowners who have houses that need minimal repairs and want a hassle-free, done-for-you sale. But they're only available in approximately 40 major cities and have strict purchasing criteria, so many homeowners can't sell to an iBuyer.
In most cases listing your home with a real estate agent will net you a lot more money. Even if selling quickly is your top priority, an experienced realtor may be able to help you find a marketing strategy that gets you under contract quickly — without sacrificing your hard-earned equity.
If you don't have time for a traditional sale, you may benefit from working with a realtor who has a partnership with a cash home buyer. An experienced local agent can guide you to cash home buyers with good reputations — and point out which ones are going to lowball you. Enter your zip code below to get free, expert guidance for your situation.
🔎 Are companies that buy houses legit?
The short answer is: Yes, most major companies that buy houses for cash are legitimate businesses that make fast cash offers.
In general, companies that buy houses work with pre-vetted investors or buy homes directly. If you decide to work with a local real estate investor instead, you'll be on your own to check their references, request proof of funds, and negotiate the deal.
Though companies that buy houses for cash operate legally, some sellers may still feel ripped off by the low prices they typically offer.
The 6 best 'we buy houses' companies
Companies such as We Buy Ugly Houses and MarketPro Homebuyers have local franchises nationwide. They purchase homes as is for cash, then flip or redevelop them.
However, most of these cash buyer companies pay as little as 50% of a home's fair market value and focus on buying distressed properties.
1. We Buy Ugly Houses
We Buy Ugly Houses
Full reviewTime to offer
Varies
Minimum closing time
3 weeks
Closing costs
No cost for seller
We Buy Ugly Houses has a better reputation than most individual cash buyers, but your experience can vary based on the quality of the local franchise. While We Buy Ugly House can close in as little as three weeks, it pays far less than fair market value.
Pros
- Trusted, nationally recognized brand
- No need to worry about repairs
- Close in just three weeks
Cons
- Quality of service may vary between franchises
- Pays far less than fair market value
We Buy Ugly Houses has over 800 independently owned and operated franchises across 47 states and Washington, DC.
As of October 2022, We Buy Ugly Houses's parent company, Homevestors, has an A+ rating on the Better Business Bureau. No other third-party reviews are available at this time.
This rating is based on overall national data. Research local franchises for specific reviews that reflect their quality of service.
- Website: webuyuglyhouses.com
- Phone: (866) 288-9516
2. HomeVestors
HomeVestors
Full reviewTime to offer
24–48 hours
Minimum closing time
3 weeks
Closing costs
No cost for seller
HomeVestors (the parent company of We Buy Ugly Houses) is a national cash buyer brand made up of independently owned and operated local franchises. Though HomeVestors can provide an initial offer within 48 hours and close in as little as three weeks, home sellers receive as little as 55% of their home's after repair value.
Pros
- Trusted, nationally recognized brand
- No need to worry about repairs
- Close in as little as three weeks
Cons
- Can't close as quickly as some other cash buyer companies
- Quality of service might not be consistent across all regions
- Pays far less than sellers could get on the open market
HomeVestors has more than 800 independently owned and operated franchises across 47 states and Washington, DC.
HomeVestors has an A+ rating on the Better Business Bureau, as of October 2022. However, its customer review rating is only 1.5 out of 5. Positive reviews highlight the company's convenience and speed. Complaints include lowball offers, high-pressure sales tactics, and spammy marketing.
- Website: homevestors.com
- Phone: (866) 949-2967
3. We Buy Houses
We Buy Houses
Full reviewTime to offer
24–48 hours
Minimum closing time
7–14 days
Closing costs
No cost to seller
Working with We Buy Houses is more likely to be positive than working with a local private real estate investor. We Buy Houses vets all of its investors and gives them an exclusive license to operate in its territory, so investors who use the brand name have an incentive to work hard in order to maintain their advantage.
While We Buy Houses doesn't exercise control over how much its investors offer, it does reserve the right to rescind licenses if investors don't meet its ethical standards.
Pros
- Offer in 24–48 hours
- Vetted, reputable real estate investors
- No need to worry about repairs
- Close in just seven days
Cons
- Little to no room for negotiation
- Individual investors have different strategies, so they may value your home differently
- Licenses are exclusive, so there's only one We Buy Houses option in your area
We Buy Houses operates in 200 markets in over 30 states.
Reviews online are available only for local franchises.
The vast majority are positive, with customers saying that the We Buy Houses investor they worked with was fast and professional.
- Website: webuyhouses.com
- Phone: (877) 932-8946
4. MarketPro Homebuyers
MarketPro Homebuyers
Full reviewTime to offer
Less than 10 days
Minimum closing time
7 days
Closing costs
No cost for seller
MarketPro pays significantly less than fair market value. It's available in only four states, so it's not an option for many home sellers. But it can close quickly and even offer a free moving service, so it might be worth it if you're relocating.
Pros
- Free moving assistance
- Close in just seven days
- No need to prep or repair home
Cons
- Pays less than fair market value
- Available in only a handful of markets
MarketPro Homebuyers operates in 22 counties across FL, MD, PA, VA, and Washington, DC.
As of October 2022, MarketPro Homebuyers has an average rating of 4.3/5 stars based on 400+ reviews.
Positive reviews note an easy transaction process and professional service. But customers also mention negative aspects, including unreliable communication and aggressive marketing tactics.
- Website: marketprohomebuyers.com
- Phone: (301) 994-7355
5. I Buy Houses
I Buy Houses
Full reviewTime to offer
Varies
Minimum closing time
Varies
Closing costs
Varies
I Buy Houses connects home sellers with a network of subscribers who are independent real estate investors. These investors aren't vetted in any way, so it's impossible to know what level of service you'll receive, and negotiating will be entirely up to you. In fact, there's no guarantee that anyone will even contact you when you submit your information.
Pros
- You get access to a national network of real estate investors.
- The online submission form is easy to fill out.
Cons
- There's no vetting process — anyone can sign up as an "investor."
- There aren't standards for how transactions are conducted.
- You have no guarantee that anyone will contact you or that you'll get an offer.
I Buy Houses is available in all 50 states and Washington, DC.
No customer reviews are available.
- Website: ibuyhouses.com
- Phone: (607) 527-6097
6. Sundae Real Estate
Sundae
Full reviewTime to offer
Varies
Minimum closing time
10 days
Closing costs
Varies
Sundae is a marketplace that pairs home sellers of distressed properties with investors. Compared with other cash buyer companies, Sundae’s business model gives you the best chance for a high off-market offer.
Pros
- You receive multiple cash offers from pre-vetted investors.
- You can skip repairs and preparations.
- You get a $10,000 cash advance to help with expenses.
Cons
- Offers are less than fair market value.
- The bidding process takes longer than a cash offer from other cash buyer companies.
- Limited locations mean few home sellers can use Sundae.
Sundae operates in 10 metro areas across CA, GA, NV, TX, and WA.
Reviews of Sundae Real Estate are generally positive, with home sellers highlighting Sundae's customer service and the competitive prices created by its unique bidding process.
- Website: sundae.com
- Phone: 1 (800) 214-4426
The 5 best iBuyers and home trade-in services
iBuyers like Offerpad and Opendoor are the next generation of companies that buy houses for cash. Most rely on technology to make an initial offer within 24-48 hours and close in as little as two weeks. Though iBuyers are more selective about the homes they purchase, they generally pay much closer to fair market value than "we buy houses" companies.
Other companies in our iBuyer list, like Knock and Orchard, will buy your house if you can't sell it on the open market first, but you can only access their backup offer after the home has been listed for several months.
If you're looking for a quick, all-cash home sale, we recommend requesting offers from multiple cash home buyers in your area. Getting multiple offers is the best way to make sure you get a fair price for your house — and walk away from the sale with as much money as possible.
Wondering how to find a real estate agent who can do just that? Enter your zip code below to see how much local cash buyers will pay for your home. We'll match you with a top local realtor, who will bring you offers from trustworthy cash home buyers in your market. Your agent will also provide you with a free professional home valuation, so you can discover what your house is worth on the open market.
1. Opendoor
Opendoor
Full reviewService fee
5%
Closing date window
14–60 days
Average rating
4.3 (3,322 reviews)
Opendoor is a good option for home sellers who need a fast, predictable sale with minimal hassle. While the price that Opendoor pays might be slightly below the value of comparable homes on the open market, the difference might be worth it for people who value convenience and speed.
Pros
- The 5% service fee is lower than some competitors.
- Many customer reviews rate the company highly.
Cons
- Offer prices may vary by market.
- You have a limited ability to negotiate.
- Buyers may find Opendoor's repairs insufficient.
Opendoor is currently purchasing homes in 47 locations, including:
- AZ: Phoenix, Tucson
- CA: Los Angeles, Riverside, Sacramento, San Diego
- CO: Denver
- FL: Jacksonville, Orlando, Tampa
- GA: Atlanta
- MN: Minneapolis–St. Paul
- NV: Las Vegas
- NC: Asheville, Charlotte, Raleigh-Durham
- OR: Portland
- TN: Nashville
- TX: Austin, Dallas–Fort Worth, Houston, San Antonio
- UT: Salt Lake City
As of 8/17/2022, Opendoor's weighted average is 4.3 based on 3,322 reviews.
- Reviews.io: 4.4 (2965 reviews)
- Better Business Bureau: 3.21 (274 reviews)
- Website: opendoor.com
- Phone: (888) 352-7075
- Email: contact@opendoor.com
2. Offerpad
Offerpad
Full reviewService fee
6%
Closing date window
8–60 days
Average rating
3.9 (524 reviews)
Offerpad promises the certainty of a cash offer and a fast closing on a date you choose. Of all the iBuyers, Offerpad has the most flexibility when it comes to closing (8–60 days) and is liked by customers for its personalized customer service and perks like a free local move.
Pros
- There's a longer closing window compared to competitors.
- The late checkout option gives sellers up to three days to move out after closing.
- You can access additional services, such as free local moves within 50 miles.
Cons
- There's a 1% cancellation fee if you back out of the sale.
- It's not as widely available as competitors like Opendoor.
Offerpad is currently purchasing homes in 25 locations, including:
- AL: Birmingham
- AZ: Phoenix, Tucson
- CA: Riverside, Sacramento, San Bernardino
- CO: Colorado Springs, Denver, Fort Collins
- FL: Jacksonville, Orlando, Tampa
- GA: Atlanta
- IN: Fort Wayne, Indianapolis
- KS: Kansas City
- MO: Kansas City, St. Louis
- NV: Las Vegas
- NC: Charlotte (+ neighboring parts of SC), Raleigh
- OH: Columbus
- SC: Columbia
- TN: Nashville
- TX: Austin, Dallas-Fort Worth, Houston, San Antonio
As of 8/17/2022, Offerpad's average customer rating is 3.9 based on 524 reviews.
- Review.io: 2.2 (19 reviews)
- Better Business Bureau: A+ | 4.23 (258 reviews)
- Website: offerpad.com
- Phone: (844) 388-4539
- Email (sellers): info@offerpad.com
- Email (buyers): buyers@offerpad.com
3. Knock
Knock
Full reviewService fee
2%
Closing date window
Varies
Average rating
4.8/5 (710 reviews)
Knock allows customers to purchase a new home before selling their old one. You'll sell on the open market with a traditional real estate agent. Knock will cover your old mortgage until your home sells — but you'll still eventually have to settle up, and costs can add up fast if your home sits on the market.
Pros
- You'll sell on the open market, potentially receiving offers above fair market value.
- You get a $35,000 advance for home repairs before selling.
- Compared to competitors, Knock accepts older homes (built after 1930).
Cons
- Fees can add up quickly if your home sits on the market.
- You'll have multiple points of contact rather than one dedicated agent.
- Buyers will need to be proactive and independent in their home search.
Knock is currently operating in select cities in these states: AZ, CA, CO, FL, GA, IL, MD, MI, MN, NC, OR, SC, TN, WA.
Knock's weighted average is 4.8/5 based on 810 reviews.
- Better Business Bureau: 4.35/5 (17 reviews)
- Zillow: 4.8/5 (750 reviews)
- Website: knock.com
- Phone: (866) 996-1695
- Email: hello@knock.com
4. Orchard
Orchard
Full ReviewService fee
Typically 6%
Closing date window
14–60 days
Average rating
4.6/5 (97 reviews)
Orchard is a home trade-in service that allows you to purchase a new home by getting access to your current home's equity. You can then list your old home on the market with an Orchard listing agent.
If you need to move quickly but still want top dollar for your home, Orchard is worth considering. However, Orchard only accepts newer homes.
Pros
- You can use Orchard's Offer Boost program to make a cash offer on a new home.
- If your home doesn't sell in 120 days, you can accept Orchard's guaranteed cash offer.
Cons
- Homes must be relatively new compared to what competitors accept (built after 1972 vs. 1930–1960).
- Orchard's cash offers will likely be much lower than what you could sell for on the open market.
Orchard is currently operating in these locations:
- CO: Denver
- GA: Atlanta
- TX: Austin, Dallas–Fort Worth, Houston, San Antonio
As of 10/21/2022, Orchard's average customer rating is 4.8/5 based on 1,184 reviews.
- Trustpilot: {ibuyers.orchard.trustpilot_rating}/5 ({ibuyers.orchard.trustpilot_count} reviews)
- Better Business Bureau: {ibuyers.orchard.bbb_rating}/5 (14 reviews)
- Website: orchard.com
- Phone: (844) 515-9880
- Email: hello@orchard.com
5. Flyhomes
Flyhomes
Full ReviewFlyhomes isn't purely an iBuyer: it's a home trade-in service that can help you win the bid on your next home and move in before you sell your old home. The company will buy your home from you if you can't sell on the open market. But the offer will represent the home's appraised value, not it's actual fair market value, which is likely higher.
Pros
- Don't pay two mortgages at the same time
- Move into your new home immediately
Cons
- Daily rental fees while you wait for your old home to sell
- Offer from Flyhomes is only a backup option, so it's not competitive
Flyhomes is available in select cities in 6 states: CA, CO, MA, OK, TX, WA.
Flyhomes has an average customer rating of 4.9 across 1210 reviews.
- Website: flyhomes.com
- Phone: (833) 3-FLYHOMES
- Email: hello@flyhomes.com
Home buying companies vs. traditional sales
Companies that buy houses for cash can save you a lot of time and help you avoid expenses like repair bills and closing costs, but the ease and convenience of selling your home to a business could cost you thousands of dollars.
If your priority is quick, predictable sale with minimal hassle, selling to a cash buyer might be the best solution — as long as you're willing to leave as much as 30% of your home's value on the table.
However, if your priority is getting top dollar for your home, the traditional method of selling on the open market with a real estate agent is still the best bet.
You'll have to pay a real estate agent commission (typically 6% of the sale price), but you'll likely still net more money in the end. An agent will determine a competitive listing price using local sales data, and market your home so that it appeals to buyers who don't just want to fix and flip.
Agents also list houses on the Multiple Listing Service (a real estate database the only licensed realtors can add listings to), which encourages buyers to submit strong offers. After all, anyone can see your listing once it's live, so if a buyer doesn't make a high enough offer, they might miss out on the opportunity to own your home when someone else comes along.
Assuming a company that buys houses offers you 70% of fair market value and doesn't charge any other fees, you'll still walk away with way more money when you list with an agent. In the scenario below, the seller would net $66,500 more selling on the open market.
Net profit: Selling to cash buyer vs. selling with a realtor
| Cash buyer company | Real estate agent | |
|---|---|---|
| 💰 Sale price | $245,000 (70% of market value) | $350,000 (full market value) |
| 🛠 Repair costs | 0% | 2% |
| 🔏 Seller closing costs | 0% | 3% |
| 💵 Realtor commissions | 0% | 6% |
| Net profit | $245,000 | $311,500 |
If you want help from a professional but don't want to pay full price, Clever can match you with a top local agent from a trusted brokerage like Keller Williams, RE/MAX, and more. You'll only have to pay a listing fee of 1.5%, plus the buyer's agent commission if your buyer has an agent. The average Clever customer saves $7,000 on commission! Find out how much you can save with Clever.
Companies that buy houses for cash: Pros and cons
- Speed: Companies that buy houses for cash typically close in just seven to 14 days, compared to 89 for a traditional sale.
- Certainty: Individual buyers often request contingencies or can run into financing complications. When you're selling to a company, there's less risk your deal will fall through.
- Less hassle: Most companies that buy houses for cash purchase homes as is or handle repairs themselves. You won’t have to hassle with fixing up a house or negotiating repairs with prospective buyers.
- Lower price: While an open market sale will usually attract multiple competitive offers, companies that buy houses for cash typically offer around 50-70% of your home's value, or market rate at most.
- Predatory tactics: Some cash buyers prey on vulnerable people with distressed properties or difficult situations. Beware of aggressive tactics or sales people who pressure you into a sale.
How do companies that buy houses work?
In general, companies that buy houses for cash purchase properties for bargain prices, complete any necessary repairs, and then resell them on the open market for a profit.
Here’s how a typical transaction works:
- Submit information about your home. Most companies collect basic information about your home through an online form or over the phone. In some cases, you may receive an initial estimate of your cash offer within 24-48 hours.
- Complete the inspection. A third-party inspector and/or local representative from the company will complete an onsite inspection. Your final offer will be adjusted to account for any necessary repairs.
- Accept the final offer. If you decide to accept the company's final offer, you’ll sign a purchase agreement and schedule closing.
- Close on your schedule. Unlike an individual buyer, companies can move fast and offer more flexibility on timing. Instead of waiting for a bank to underwrite a mortgage, you may be able to close in as little as ten days.
What about local real estate investors?
Individual real estate investors or investor groups are always on the lookout for properties and often pay cash to speed up the transaction by avoiding the delays of traditional financing. These investors either “fix and flip” a house for resale, or turn it into a rental property.
Be aware that if you sell your home directly to an individual real estate investor you'll have to vet them yourself.
Tips for vetting local real estate investors
- Ask for references and contact them to make sure they're legit.
- Ask them for proof of funds if the investor makes a cash offer.
- Never pay any fees — a legit real estate investor shouldn't ask you to pay anything upfront when they make an offer.
- Never feel pressured to accept their offer — you can walk away if you're uncomfortable with the deal.
Find a company that buys houses near you
If you’re looking for a company that pays cash for houses in your local market, we’ve put together comprehensive guides for all 50 states and Washington, D.C.
Region | States |
|---|---|
Northeast | |
Midwest | |
Pacific West | |
South | |
Mountain West | Arizona, California, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming |
How much will a cash buyer pay for my home?
If you sell to a company that buys houses, you should not expect to get the fair market value for your home. In most cases, you’ll receive significantly less.
To determine how much to pay for a house, a cash buyer company often uses the 70% rule. That is, it will pay no more than 70% of a home’s predicted after repair value — how much it could sell the home for — minus the cost of any repairs.
Say your house would have a value of $200,000 in pristine condition, but it needs about $20,000 in repairs. You should expect a cash buyer company to pay about only $120,000 ($200,000 x 70%, minus $20,000).
If you have the capital to handle those $20,000 in repairs, you could hold out and list your home with a licensed real estate agent.
On the open market, you could end up earning as much or more than your home's market value of $200,000. (Just remember — you’ll need to pay commissions and closing costs.)
Some cash buyers will pay even less than 70% of your home’s after repair value. Since you can usually receive a cash offer with no obligations, we recommend submitting your information to multiple companies that buy houses before committing to a sale.
Then, also interview a traditional agent to find out how much you could make on the open market.
» FIND: Clever can connect you with top local agents who offer a free comparative market analysis
How much are iBuyer fees?
iBuyers such as Opendoor and Offerpad pay more for houses than traditional "we buy houses for cash" companies — usually close to market value. But these companies make up for that narrow profit margin by charging service fees of 5% or more.
» MORE: Opendoor fees | Offerpad fees
Is selling to a cash buyer a good idea?
Selling your house to a company that buys houses for cash might be a good option if:
- You have a severely tight timeline. If you're experiencing a difficult personal situation, such as a divorce or an urgent move, cash buyers could help you sell faster and with greater certainty.
- You inherited property. If a deceased relative's property is far away or in disrepair, selling to a company can help you turn an unwanted property into cash.
- You're facing extreme financial issues. If you’re facing foreclosure and don’t wish to retain your home, selling to a cash buyer might allow you to avoid a devastating hit to your credit without losing 100% of your equity.
- Your property is badly distressed. If your house is in very poor condition, using a “we buy houses for cash” company could help you sell the property without making repairs.
Cash buyers can be a good solution if you need to unload an unwanted, distressed property fast. However, this convenience comes at a high cost. There are other options that can help you sell your home in a short amount of time without sacrificing a ton of equity.
If you need to sell fast, Clever may be a better choice. In addition to significant cost savings, Clever sellers typically get offers 2.8 times faster than the national average!
If you’re thinking about selling to a cash buyer, it’s worth exploring Clever as an alternative. It could mean thousands more in your pocket after closing.
Cash buyer company FAQ
If you're thinking of selling your house to a cash buyer company, you can choose between traditional cash buyers or next-generation iBuyers. Based on our research, some of the best home buying companies include OpenDoor, We Buy Ugly Houses, Offerpad, and Homevestors. However, if you're not a time crunch, you could make more by selling with a real estate agent or a low commission broker.
In general, companies that buy houses for cash require you to submit information about your home online or via phone. Next, you'll schedule an inspection and receive a final cash offer. If you decide to accept the offer, you can usually set a closing date within 7-10 days (or later, if needed).
Yes, many reputable companies pay cash for houses. If you’re considering selling your home to one of these companies, thoroughly research it by checking its rating with the Better Business Bureau and reading previous clients' reviews.
Selling your home to a cash buyer can take anywhere from seven to 30 days, depending on the buyer and your specific situation. A fast home sale is a key advantage of selling your home to a cash buyer. However, the tradeoff is that you'll likely get far less — typically 50-70% of your home's market value.
When selling your house to a cash buyer company, the closing costs — which often include taxes, insurance premiums, etc. — are typically covered by the buyer. This may sound like a good way to save money when selling your home. However, since cash buyers typically offer much less than your home's market value, you will likely not save money by avoiding closing costs.
To sell your house "as is," you must indicate on your listing that you are not willing to make any repairs to your home. This is as simple as putting "as is" in the description of your home in your MLS listing. It can also help to have a pre-inspection performed and disclose all of the issues found upfront, so potential buyers know what they are getting into.