HomeVestors Reviews (2024): How It Works, What It Pays

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By Jared Lindstrom Updated June 4, 2024
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Edited by Katy Byrom

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HomeVestors is a national cash home-buying franchise that purchases homes as is for cash. The company is known for its trademark slogan, We Buy Ugly Houses

If you sell to HomeVestors, you'll probably get a lot less than you would from a traditional sale. But you can close quickly, and you don't have to worry about repairs, commissions, or closing costs.

Each HomeVestors franchise is independently owned and operated by a local real estate investor — which means that customers in some locations have better experiences than others.

However, HomeVestors reviews are positive overall. Customers mention professional and helpful franchise owners and quick, easy home sales. Negative reviews cite offers that are well below fair market value.

Our HomeVestors rating

⭐️ HomeVestors: Overall score3.8 🟡
Service quality4.0 🟡
Offer quality3.5 🟡
Customer reviews4.0 🟡
Credibility3.25 🔴
Show more
Ratings based on 1–5 scale, with 5 being the best. Learn more about our methodology.

Is HomeVestors worth it?

Pros

  • You get an offer quickly — sometimes on the spot after a home inspection.
  • You can close in as little as 3 weeks after accepting an offer.
  • Almost any property will qualify for an offer, no matter its condition.

Cons

  • You'll get much less than your home's fair market value.
  • Similar companies offer even faster closings.
  • Service quality can vary depending on the local franchise owner.
  • Some We Buy Ugly Houses franchises have been accused of unethical practices.

HomeVestors is best for people who need to sell a home quickly and as is. This includes people who:

  • Are moving on a tight timeline
  • Are facing foreclosure or other debt problems
  • Need to sell an inherited home
  • Don’t have time or money to make repairs
  • Have a rental property with problematic tenants

But even if you're in a rush to sell, we don't recommend getting an offer from only HomeVestors. HomeVestors won’t pay nearly as much as you’d get on the open market with a real estate agent. 

HomeVestors also advertises a 3-week closing — slower than the 1–2 weeks advertised by many competitors. Plus, there are red flags with the way at least some HomeVestors franchises operate, including deals falling through, changed closing dates, and predatory sales tactics.

We recommend shopping other companies that buy houses for cash and getting an estimate of your home’s fair market value before making a decision. A good realtor may be able to help you sell your home just as quickly — and for a much higher dollar amount.

A simple way to compare your options is with a free service like Clever Offers. With Clever, you can compare the best possible offers from a variety of sources — ranging from local investors to nationwide iBuyers. That way, you can spend less time chasing down potential buyers, and more time your time focused on your move.

Get the most competitive cash offers on your house

Compare offers from the top cash buyers in your area. Plus, get an expert realtor's opinion of what your house is really worth.

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HomeVestors vs. alternatives

Other cash buyers | iBuyers | Traditional realtor listing

Company
Clever Rating
Type
Best for
Offer Rating
Best overall
5.0
3,162 reviews
National cash offer network
Multiple offers, vetted investors
Most competitive
Compare Offers
On listwithclever.com
Fast sales, professional service
4.6
307 reviews
Franchise cash buyer
Fast sales, professional service
Average
Firm, fast cash offers
4.1
135 reviews
Regional cash buyer
Firm, fast cash offers
Average
Fair offers, hassle-free sales
4.3
3,801 reviews
iBuyer
Fair offers, hassle-free sales
Most competitive
Best overall

Clever Offers

Compare Offers
On listwithclever.com
5.0
3,162 reviews

Customer Rating

5/5

Service Fee

None

Time to Close

Varies

Why We chose it

Pros and cons

Specifics

Clever Offers helps you find and compare offers from leading cash buyers in your area — all with a proven track record of ethical dealings with home sellers. 

Because Clever's network includes local/national investors, iBuyers, and agents with experience listing homes as is, you get a range of offers to choose from — including alternative deal types that deliver a higher payout over time. 

The 5-star rated company gets top marks for helping you make an informed decision without pressuring you to move forward. See our full Clever Offers review.

Pros

  • Multiple competing cash offers
  • Vetted investors with proven success/funding
  • Explore alternate offer types that may fetch a higher price

Cons

  • Legal review of contracts still advised
  • Some deal types have longer timelines
  • Cash offers may still be below market value

Offer Process: After a brief discussion about your property, Clever walks you through your options and reaches out to buyers who can offer a solution. Buyers contact you directly with offers, which you can accept or reject without obligation. Clever provides full support through closing to resolve any concerns or questions. Learn how Clever Offers works.

Closing Timeline: Most cash buyers can close in 1–3 weeks, but will work with you if you need longer. Some deal types may have longer closing timelines.

Fees and Costs: Clever's service is free for sellers - investors pay Clever a small percentage of the final sale price if a deal closes. If you opt to list your house instead, you can save on realtor commissions through Clever's top-rated agent network.

Purchase Criteria: Almost any property is eligible, since Clever works with multiple types of cash buyers.

Locations: Clever Offers is available nationwide, but offer selection may be limited in more rural areas.

Fast sales, professional service

We Buy Houses

Learn More
On listwithclever.com
4.6
307 reviews

Customer Rating

4.6

Service Fee

None

Time to Close

7–14 days+

Why we chose it

Pros and cons

Specifics

We Buy Houses is a solid choice if you need to sell fast or have a home that’s difficult to sell. You don’t need to worry about repairs and can close extremely quickly, sometimes in just a week.

The company has been around since 1997, carefully vets its investors' reputations, and is available in most of the U.S. 

Franchise owners have a high degree of independence when it comes to the types of offers they can make. While the customer experience may vary between locations, most offices maintain above-average ratings. See our full We Buy Houses review.

Pros

  • Fast offers (24–48 hours) and closings (7-14 days)
  • No commissions, fees, or closing costs
  • Vetted, reputable investors

Cons

  • Pay below market value
  • Offer is typically take it or leave it
  • Customer experience may vary location

Offer process: Submit information about your property and a company rep will come to your house. You’ll receive a no-obligation cash offer within 24-48 hours following the inspection, which you're free to accept or reject. Learn how We Buy Houses works.

Closing timeline: You can close in as little as seven days and you can choose your own closing date. Money will be deposited in your account in as little as ten days from signing the purchase agreement.

Fees & other costs: Typically there are no fees, closing costs, or realtor commissions. However, if you already have a realtor, you’ll likely need to pay their commission (typically 2.5–3%).

Purchase criteria: Franchise licensees can make offers on nearly any property, regardless of the condition, but most will not purchase mobile homes.

Locations: We Buy Houses has 200 offices across 30 U.S. states and Washington, DC.

Did you use We Buy Houses? Leave a review for the chance to win a $250 Amazon gift card.
Firm, fast cash offers

HomeGo

Learn More
On listwithclever.com
4.1
135 reviews

Service Fee

None

Time to Close

7 days

Why We chose it

Pros and cons

Specifics

If you’re in a hurry to sell, HomeGo’s same-day cash offer and 7-day closing window make it a compelling option. It also stands out for its leaseback program, which lets you stay in your property after closing if you need extra time.

While HomeGo’s offers, like all cash buyers’, are below market value, online reviews suggest that they’re often better than the competition’s. Many reviews also praise the company for its customer service.

But if you own a house in good condition, you’ll likely find a better deal elsewhere. See our full HomeGo review.

Pros

  • Firm same-day offers, flexible closing dates
  • Reviews suggest offers are higher than competitors'
  • Leaseback option to stay in your house after closing

Cons

  • Homes in good condition may get more on open market
  • Single cash offer, no competing bids provided
  • Leaseback option comes with a daily fee

Process: Provide your address and schedule a walkthrough. You’ll receive an offer on the spot, which you can accept or reject. If you accept, you can choose any close date you want. Learn how HomeGo works.

Closing timeline: HomeGo claims the closing timeline is up to you and can range from 7 days to three months. If you still need to stay after closing, you can do so through HomeGo’s leaseback program.

Fees & other costs: There are no fees or closing costs to sell directly to HomeGo. If you take advantage of the leaseback program, you will have to pay extra (varies depending on the length of stay).

Purchase criteria: Homes, townhomes, condominiums, duplexes, multi-tenant buildings, and mobile homes in any condition.

Locations: HomeGo operates in 32 local markets across 23 states, including AL, AZ, CA, CO, DC, FL, GA, IL, IN, KS, MA, MD, MO, NV, NC, OH, OK, PA, SC, TN, TX, UT, VA, and WA.

Fair offers, hassle-free sales

Opendoor

Learn More
On listwithclever.com
4.3
3,801 reviews

Customer Rating

4.2/5

Service Fee

5%

Time to Close

14–60 days

Why we chose it

Pros and cons

Specifics

Opendoor is for home sellers who want to skip the hassles of a traditional home sale — without sacrificing too much on price.

You can get an initial offer within 24–48 hours, choose your closing date, and skip repairs and showings. The company also pays much closer to market value than traditional house flippers.

Opendoor does charge a 5% service fee, and some customers complain that final offers are lower than initial estimates. See our full Opendoor review.

Pros

  • Pays closer to market value than flippers
  • Convenient selling process and quick inspections
  • Flexible closing windows

Cons

  • Repair costs can significantly reduce offers
  • 5% service fee, on par with realtor commissions
  • Strict purchase criteria

Offer process: Submit your property info online and get an initial offer within 48 hours. Following a brief virtual/exterior inspection, you’ll get a final offer, which may be lower. You can accept your cash offer, choose to list it with an Opendoor agent, or walk away. Learn how Opendoor works.

Closing timeline: You can choose a closing date 14–60 days after receiving your final offer. On your move-out day, you’ll need to provide photos of the property.

Fees & other costs: Opendoor charges a 5% service and closing costs of ~1%. Repair estimates will be deducted from your offer and can vary a lot, from less than 1% to over 5%.

Locations: Opendoor is currently available in 53 major markets in AL, AZ, CA, CO, FL, GA, ID, IN, KS, MA, MI, MN, MO, NV, NJ, NM, NY, NC, OH, OK, OR, SC, TN, TX, UT, VA, and Washington, DC.

Purchase criteria: Only single-family homes, townhomes, certain condos built after 1930, valued between $100,000 and $600,000 (up to $1.4 in some markets), and on a maximum lot of 1 acre (2 in some markets). Must be owner-occupied without any serious issues.

Did you use Opendoor? Leave a review for the chance to win a $250 Amazon gift card.

» MORE: Looking for more cash buyers near you? Check out the best companies that buy houses for cash to see our comprehensive guides for all 50 states. 

HomeVestors vs. other cash buyers

HomeVestors offers the same general range of services and pays about the same amount for homes as other cash buyers, such as We Buy Houses and HomeGo.

The main benefit of these cash buyer companies is that they will buy your home quickly in as-is condition, and you won't have to pay for repairs or typical closing costs out of pocket.

However, you'll usually receive an offer that's far below the home's fair market value. Because of this, we recommend that most home sellers consider going with a cash buyer as an absolute last resortafter talking to a reputable real estate agent and seeking out offers from any iBuyers in your area to see if you can get a more competitive price.

If your home is in poor condition, you can’t make the necessary repairs, and you need to sell it immediately — even if it means leaving a lot of money on the table — a cash buyer may be your only option. In this case, we strongly recommend getting multiple quotes from different cash buyers in your area before accepting one.

HomeVestors vs. iBuyers

If you need to sell your home quickly, selling to an iBuyer could help you keep more of your home's equity while still enjoying a speedy closing. As with HomeVestors, iBuyers pay cash for homes. You'll typically receive a preliminary offer within 24–48 hours, and you can close in as little as two weeks.

Although iBuyers also typically purchase homes for less than market value, they usually make higher offers than cash buyers like HomeVestors.

The one drawback is that iBuyers are strict about the types of homes they purchase — and they typically only operate in large metro areas. If your home is old, in a slow market, or in need of extensive repairs, it may not qualify for an offer.

HomeVestors vs. traditional agent listing

No matter the condition of your home or how quickly you need to sell, the best option for most home sellers is to seek out the advice of a trusted, local real estate agent — preferably from a brokerage that offers low commission rates.

"When we meet with clients, we almost always bring along several cash offers from partners of ours," says John Gluch, realtor and CEO of The Gluch Group San Diego. "Comparing actual cash offers and terms to what the market will bear gives you the most options and the least risk."

The right real estate agent can help you create a marketing plan that works for your home, timeline, and financial constraints. Be upfront with your agent about your situation and timeline. They may advise you to take the cash offer and help you find the most reputable agency near you — or you may discover that your home will sell quickly (and for more money!) on the market.

In-depth HomeVestors review

We recently worked with a secret shopper to gain fresh, unbiased insights into how the company operates. Our ratings are partially based on those insights.

Service quality

📊 Our rating: 4/5

  • Most customers praise the honesty and professionalism of local franchise owners
  • Slower to close than some competitors offering 7-day closing window
  • Some franchises have been accused of scammy, potentially unethical sales strategies

HomeVestors gives customers a decent selling experience overall. Most reviews highlight that the company’s employees were professional and easy to work with. 

We also recently worked with a secret shopper who echoed positive online reviews, stating that the HomeVestors representative they worked with was down to earth, easy to talk to, and honest about the offer process.

That said, choosing this cash home buyer comes with some notable potential drawbacks.

The company lags behind its competitors when it comes to the closing process. HomeVestors advertises a 3-week closing window — while some investors are able to close in as little as 7–10 days. 

Your final offer may also differ from the original number you agreed to — or it may not go through at all. HomeVestors has a history of backing out of offers or lowering the offer amount after a second inspection.

While not a widespread issue, some HomeVestors franchises have earned a reputation for pressuring customers into accepting lowball offers[1].

Offer quality: How much does HomeVestors pay for houses?

📊 Our rating: 3.5/5

  • Will buy property in almost any condition
  • Cash-only deals with no strings attached
  • Offers are significantly lower than going to market

Most investors will pay no more than 70% of the home's after-repair value (ARV), minus repair costs. For example, if an investor thinks your home could be worth $200,000 after it's fixed up and estimates that it needs $20,000 of repairs, they won't offer you more than $120,000. After completing the repairs, they'll sell it for the full market value and turn a $60,000 profit.

However, the actual offer you receive from HomeVestors is up to the individual franchise owner in your location.

Our secret shopper recently received an offer from HomeVestors and was shocked that it was around $100,000 below realtors' estimates of what they could get on the open market (even after accounting for closing costs and realtor fees).

Buyers with homes in good condition may be put off by an offer from HomeVestors. However, those that are may not be the company's target customer. 

HomeVestors franchise owners make money by purchasing fixer-uppers and reselling them for a profit. If you're willing to sacrifice your equity to avoid the headache of fixing up your home on your own, the company’s cash offer may be the right option for your situation.

Pro tip: HomeVestors wholesales some of it properties — meaning that rather than fix up your house itself, it sells the purchase contract to another house flipper for a slightly higher price. encouraging franchisees to offer less to make a better profit. You may want to ask if the company intends to wholesale your property and take that into account when considering their offer. You may be better off going to another investor directly.

Want the benefits of a cash offer, without giving away your equity? Clever Offers helps you gather competing offers from leading cash buyers so you can maximize your sale price. Compare your options side-by-side, with no added fees or commitment to move forward. 

Customer reviews

📊 Our rating: 4/5

  • Many customers praise HomeVestors' easy selling process and professionalism
  • HomeVestors may back out of an offer close to the closing date
  • Some customers feel like they were pressured into lowball offers

Reviews of HomeVestors are mostly positive. The company has an average customer rating of 4.5/5 from 1,996 reviews across Google and the Better Business Bureau.

While most customers are happy with HomeVestors’ professionalism and how quickly they sold through the company, others feel like they were pressured into selling and that HomeVestors didn’t stick to its initial offer.

One thing to remember is that each HomeVestors location is independently owned and operated, so one person’s experience may not reflect the branch in your area.

✅ Easy to work with

Many of the positive HomeVestors reviews point toward an easy overall experience. The three-week timeline gives sellers enough time to prepare for closing without seeming like the company is dragging its feet.

Here’s what Kathryn S.[2] had to say about selling her home in Phoenix: 

“I called HomeVestors to assist with selling my home. I wanted to avoid repair work and cleaning, and quickly move to my new place. Danielle Gish immediately understood my situation. She was very efficient and thorough. She kept me well-informed and made it all as easy as could be for me. She is knowledgeable and friendly while remaining professional.  If I had to do it again, it would be HomeVestors and Danielle.”

✅ Professional representatives

Customers find HomeVestors representatives to be professional throughout the selling process. Most branches work to facilitate a smooth sale and ensure customers are taken care of.

David C.[3] from the Atlanta area highlighted his positive experience with HomeVestors and that he would use them again:

“Dean Bendall] & Bendall Properties, LLC did an amazing job buying our house. We were given a fair price and through several delays, Dean was very professional. Dean went above and beyond by making sure we had time to secure a new residence. I can't say enough good things about this experience. If I'm ever in need of a short sell again, I will not hesitate to contact Dean first.”

❌ Unexpectedly canceled contracts

While most sellers are happy with their HomeVestors experience, others report that the company took back its offer close to or on their closing date.

Rickey L.[4] from the Dallas area claimed his local HomeVestor representative assured him that the deal would go through until the evening before: 

“The Hancocks with Home Vestors made an offer on our home and assured us they wouldn't back out and at 5 pm the day before closing they called and canceled the contract. Their reason was they couldn't find financing. HomeVestors’ motto is "Our firm cash offer will not change before closing". That’s a lie.”

❌ Lowball offers

Some customers felt like the offer they received was well below what they deserved. However, since HomeVestors is in the house-flipping business, you should expect an offer below market value.

Greg[5] from Dallas sold to HomeVestors under the assumption that it was the best he could get out of his home, only to find out they sold the house for a $200,000 profit:

“B*** P****** told me the house needed at least $120,000 worth of work. He also told me that the house didn't have a market value of $386,000, as indicated in the property assessment (once repaired), or $390,000 to $400,000 according to comparables told to me by real estate agents, because the real estate market was in decline due to a slowing economy and increasing interest rates, causing fewer buyers having affordability to buy homes. So, he offered $225,000, telling me that is the best I could get. B*** later sold my house for $430,000!”

Credibility

📊 Our rating: 3.25/5

  • Aggressive marketing strategies among some franchisees to pressure sellers into a bad deal
  • Recent scandals have resulted in lawsuits
  • HomeVestors claims to have updated training to keep this from happening again

HomeVestors was founded in Dallas in 1996 and has been one of the most recognizable "cash for houses" companies for nearly two decades. However, a series of recent ProPublica investigations have damaged its reputation.

One ProPublica report found that some HomeVestors branches used underhanded tactics to force vulnerable customers from their homes[6]. Common targets were people who were elderly, disabled, or experiencing financial hardships.

Another article published by ProPublica followed the stories of homeowners who found themselves in worse situations after dealing with HomeVestors. One customer sued the HomeVestors’ franchise owner, who pleaded guilty to two counts of grand theft[7].

Representatives from HomeVestors say that the company has changed how it trains new franchise owners to keep this problem from happening in the future[8]. It also added a three-day opt-out period to allow sellers to walk away if they are uncomfortable with the deal.

While these policies are a step in the right direction, it may be a while before we see real changes. We’ll keep an eye on HomeVestors to see if the company’s credibility improves before adjusting our rating.

How does HomeVestors work? 

Here is how the selling process typically goes when you choose HomeVestors:

  1. Start by requesting a consultation on the HomeVestors’ website or calling them directly.
  2. After confirming some details about your home, the closest franchise owner will contact you to schedule a walk-through (typically 24–48 hours after contact).
  3. During the walk-through, a HomeVestors representative will assess your home and make an as-is cash offer. We recommend asking questions about whether they want to wholesale your home (i.e., sell the contract to another investor) and whether you can back out of the deal before closing if you find a better offer.
  4. Carefully evaluate the offer and purchase agreement. We suggest consulting a professional, like an attorney or accountant, to make sure the deal is legit.
  5. If you choose to accept the offer, you can choose a closing date in as few as three weeks — or take more time if you need it. You also have the option of backing out of the deal within three days of agreeing to it.

What types of homes will HomeVestors buy?

HomeVestors can buy almost any type of property, even if it doesn’t qualify for a traditional mortgage or is otherwise hard to sell.

HomeVestors franchisees will consider purchasing most homes, including:

  • Distressed properties
  • Homes in high-crime neighborhoods
  • Homes on a floodplain
  • Foreclosures
  • Inherited houses
  • Homes with title issues or multiple owners
  • Vacant properties
  • Rentals with problem tenants

However, HomeVestors typically won't buy mobile or manufactured homes, or empty lots.

HomeVestors locations

HomeVestors operates nationwide, EXCEPT Alaska, Hawaii, North Dakota, and South Dakota. The company claims to have more than 1,000 franchises across the United States.

Frequently asked questions

Is HomeVestors a scam?

HomeVestors isn't a scam — it's a legitimate cash home buyer with franchises across the country. HomeVestors pays less than fair market value for houses in order to resell them for a profit. Research your local franchise and read customer reviews to find out if they have a good reputation before contacting them.

Is HomeVestors legit?

Yes, HomeVestors is a legitimate cash home buyer, with franchises across the country. Home sellers who request an offer from HomeVestors franchisees might be disappointed by how little they pay, but keep in mind that the business model relies on purchasing homes at a discounted price. Learn more about who should use HomeVestors.

Are there any problems with HomeVestors?

As a home seller, the biggest problem you're likely to encounter with HomeVestors is that their investors won't pay much for your home. Cash buyers like HomeVestors often operate using the 70% rule, which means they'll pay no more than 70% of the home's after repair value, minus repair costs. In fact, they might pay even less than 70% to maximize their profits. Because of this, most home sellers will find better value with one of HomeVestors' competitors.

Can you negotiate with HomeVestors?

You can try to negotiate with HomeVestors, but most of the time, its best offer will still be less than what you'd get on the open market. Like other cash buyers, the HomeVestors business model relies on buying homes for less than market value and then reselling them for a profit. Because of this, most HomeVestors franchise leads probably won't have a lot of room to negotiate their offers.

How many HomeVestors franchises are there?

HomeVestors claims to have more than 1,000 franchises across 47 states and territories in the U.S. Each franchise is independently owned and operated by a local real estate investor who pays franchise fees to HomeVestors. These franchise fees also give investors the right to advertise using HomeVestors' We Buy Ugly Houses trademark.

Recommended Reading

Methodology

We evaluate each company that buys houses for cash based on four core criteria and create a weighted score:

  • Service quality (30% of final score)
  • Offer quality (20% of final score)
  • Customer reviews (30% of final score)
  • Credibility (20% of final score)

Service quality

Customer experience. We rely on secret shopping and fact-checking interviews with company representatives to look for indicators that the company is professional, communicative, customer-focused, and ethical in its dealings with customers. We verify this information against customer reviews and interviews with past customers or professionals (realtors, former employees) who have had direct experience working with the brand. 

Offer quality

Price. While nearly all cash buyers pay less than market value for homes, we look at how competitive the company's offers are compared to similar companies.

Purchase criteria. We also look at the company's purchase criteria to see how flexible and accommodating they are in making offers. Companies that offer a fair price for homes that other buyers won't purchase can still get a high rating for offer quality.

Fees and other costs

Competitiveness. We look at how the company's fees and other costs compare to competitors.

Value. We consider whether the fees are justified by the value offered.

Customer experience

Review analysis. We perform an in-depth analysis of all the available customer reviews to determine trends. We break down the reviews by theme and sentiment, and filter out spam reviews to determine our rating.

Company responsiveness. Negative reviews are part of doing business; however, we take note of whether a company is actively involved in resolving customer complaints.

Credibility

Trust signals. We look at how long the company has been in business, the number of verified customer reviews it has, how willing the company was to answer questions about their business model when we contacted them, and how easy it is to find detailed information on their website — including the names and contact details of specific team members. We also look at customer reviews indicating whether the company acts with honesty and integrity in their business dealings. 

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