HomeVestors Reviews: How it Works, Customer Reviews, & Alternatives

Andrew Whytock

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Andrew Whytock

August 18th, 2022
Updated August 18th, 2022

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Key takeaways
  • HomeVestors is best for home sellers with distressed homes who are on a very strict timeline.
  • HomeVestors typically pays less than you'd get in a traditional sale, but they can close in as little as three weeks and help sellers avoid repair costs.
  • While HomeVestors can provide an easy, all-cash sale, home sellers should talk to an agent to see what their home is worth on the open market. Request your free home valuation now.

HomeVestors is a national cash buyer with franchises in 46 states.

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' well-known trademark, "We Buy Ugly Houses."

HomeVestors franchisees purchase residential properties "as is" from sellers in difficult situations, such as:

  • Relocating on a tight timeline
  • Facing foreclosure or other debt problems
  • Needing to sell an inherited home
  • No time or money to fix a house that is in need of extensive repairs

If you need to sell your home quickly, HomeVestors can sound like an attractive option. But you'll typically sell for a lot less money. Most people should only consider it if they don't have time to sell on the open market.

Before you accept a cash offer from HomeVestors, we recommend requesting additional offers from some of its top competitors. Compare your options, then pick the one that gets you the most money on your timeline.

When you need to sell your house fast for cash, Clever Offers is the best place to start. Clever will match you with a great local realtor, who will bring you offers from the top cash home buyers in your area. You'll also get a free home valuation, so you can make sure you're getting a fair price for your house. Get fair offers from local cash home buyers now!

HomeVestors, key categories at a glance
🖋 Closing time
As little as 3 weeks
⏱ Offer time
24-48 hours
📍 Locations
800+ franchises in 45 states and Washington, DC
📓 Customer reviews
4.4 out of 5 across 1354 reviews.
📠 Related companies
We Buy Ugly Houses, DealVestors

Who is HomeVestors best for?

HomeVestors is best for people with homes in poor condition who need to sell immediately and can't afford to make repairs. But you should only accept an offer after exploring other options first — most home sellers can get a much higher price on the open market.

Like other cash buyers, HomeVestors looks to make a profit by fixing up and reselling houses. Their goal is to purchase properties at a steep discount — sometimes as little as 55% of the home's after repair value, minus any anticipated repair costs.

Even if you're in a rush to sell, you should take the time to talk to a real estate agent about your options. You may be able to sell on your timeline by pricing your home aggressively — but still walk away with a lot more money in your pocket.

👋 Clever can help you sell fast and for top dollar!

Before selling your home to an investor or flipper for cash, it pays to talk to a real estate agent about your options.

Our licensed concierge team can connect you with top-rated agents who know how fast homes are selling in your area — and how to find a buyer quickly while earning the most money from your sale.

HomeVestors vs. top alternatives

There are three main types of alternatives to HomeVestors:

  1. Other cash buyers
  2. iBuyers
  3. Listing with a traditional agent

Cash buyers like HomeVestors aren't our top pick for most home sellers, but they may be your only option if you need to sell an older or distressed property quickly.

If you're in a rush and are selling a newer home that doesn't need a lot of repairs, we recommend getting an offer from an iBuyer.

Listing with a real estate agent is the best option for most home sellers because you're more likely to sell your home for its full value.

1. HomeVestors vs. other cash buyers

Company
Avg. time to offer
Avg. closing time
HomeVestors
24–48 hours
As little as 3 weeks
4 days
10–60 days, flexible
1–7 days
1–4 weeks
Offers can be made the same day
As little as 7 days
Varies
Varies

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, Marketpro Homebuyers, and I Buy Houses.

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 closing costs out of pocket.

However, you'll typically receive an offer that's far below the actual market value for your home. Because of this, we recommend that most home sellers consider going with a cash buyer as an absolute last resort — after talking to a traditional agent and seeking out offers from any iBuyers in your area.

If your home is in poor condition, you're unable to 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.

» MORE: The best companies that buy houses for cash

2. An iBuyer could buy your home quickly for a higher price

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, located in a slow market, or in need of extensive repairs, it may not qualify for an offer.

3. You'll get the most overall value by consulting with an agent

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.

"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."

A top-notch real estate agent will be able to help you create a marketing plan that works for your home, timeline, and financial constraints. Be up front 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.

One of the best ways to find a good real estate agent near you is with a company like Clever Real Estate. Sellers who work with Clever will get matched with top local agents from well-known brokerages like Century 21 and RE/MAX. You'll also get exclusive, pre-negotiated listing fees of just 1%, which is a fraction of the standard 3% rate most realtors charge.

You can also compare selling with an agent to other options (like selling to a cash buyer) when you use Clever. Get started below!👇

Pros and cons of selling to HomeVestors

✅ Pros
❌ Cons
Home sellers don't have to pay for repairs or prep their home for listing photos.
Cash buyers like HomeVestors often pay significantly less for your house than what you'd get on the open market.
HomeVestors can close in just three weeks — or longer if you need extra time.
Each franchise is independently owned and operated, so the quality of service could vary by region.
There are franchises in multiple cities/counties across 46 states, so the service is widely available.
There's no one to represent you when you sell to HomeVestors, whereas a realtor will help you negotiate.

How much does HomeVestors pay for houses?

The actual offer you receive from HomeVestors is up to the discretion of each individual franchise owner. However, most HomeVestors locations will pay between 55–70% 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 they estimate 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.

That's a lot of money to leave on the table!

Another big problem with this formula is that HomeVestors estimates the repair costs for you, so they might inflate their costs in order to make the offer seem more favorable than it actually is.

If you want to sell your home without sacrificing your hard-earned equity, it's best to talk to a traditional real estate agent about your options.

👋 Next Steps: Talk to an expert!

If you're weighing your options for buying or selling a house, Clever can help!

Our fully-licensed concierge team is standing by to answer questions and provide free, objective advice on getting the best outcome with your sale or purchase.

Ready to get started?

Give us a call at 1-833-2-CLEVER or enter your info below. Our concierge team will be in touch shortly to help.

Remember, this service is 100% free and there’s never any obligation.

HomeVestors reviews from real customers


Rating
# of reviews
Weighted average
4.4
1354
Google
4.5
1271
Yelp
2.5
65
Better Business Bureau
1.4
18

Overall, customers give Homevestors 4.4 out of 5.0 rating across 1354 reviews.

Customers who gave positive reviews of HomeVestors appreciated things like:

  • The speed of the transaction
  • The professionalism of the service they received
  • Being able to sell with no hassle

On the other hand, negative HomeVestors reviews focused on things like:

  • Offers being way too low
  • Feeling pressured to sell
  • Constant unwanted mailers and text messages

What customers liked about HomeVestors

This customer in Florida sold their home quickly enough to close on a new condo:

Ronald review

This home seller in Texas said the HomeVestors franchise they worked with was quick and professional:

Kurt review

What customers didn't like about HomeVestors

A reviewer in Georgia said that her mother quickly accepted an offer from HomeVestors, only to find out later that they listed it a week later and sold from almost $90,000 more:

Sherry review

This home seller in Georgia was offended by HomeVestors low offer and felt that the company didn't reflect recent updates that had been made to the home:

Michael review]

HomeVestors of America: Quick facts

Headquarters
Dallas, TX
Who owns Homevestors
Bayview Asset Management
Homevestors CEO
David Hicks
Year founded
1989
Company type
Private
HomeVestors reviews BBB
1.4 rating (18 reviews)

HomeVestors locations

HomeVestors has over 800 franchises in 46 states, so they are widely available to home sellers.

FAQS about HomeVestors

HomeVestors is not a scam — it's a legitimate cash buying brand with franchises across the country. HomeVestors pays less than fair market value for houses in order to resell them for a profit.

The quality of service that you receive may vary from franchise to franchise since each one is independently owned and operated. Make sure you do your research on your local franchise and read customer reviews to find out if they have a good reputation before contacting them.

Yes, HomeVestors is a legitimate business. The company has franchises across the country that buy homes for cash. Home sellers who request an offer from HomeVestors might be disappointed by how little they pay, but their business model relies on purchasing homes at a discounted price. Learn more about who should use HomeVestors.

As a home seller, the biggest problem you're likely to encounter with HomeVestors is that they 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.

You can try to negotiate with HomeVestors, but most of the time, their 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.

One good way to determine whether your HomeVestors offer is the right choice is to get multiple offers from different companies. Learn more about the top HomeVestors alternatives in our complete guide.

There are currently 800 HomeVestors franchises across 46 states in the US. 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.

Related articles

This guide draws on over 100 hours of collective research from Clever’s editorial team — including analysis of the service offerings and business models of various real estate technology companies.

Our ranking and editorial positions drew from an in-depth analysis of HomeVestors and their subsidiary brand, "We Buy Ugly Houses". We read all of the customer reviews online for HomeVestors' franchise locations, and reviewed recent press articles about the company, and interviewed 25 licensed real estate professionals, including:

About Clever Real Estate

Clever is a free online platform with the goal of educating consumers about real estate and helping them save money when buying or selling a home. We strive to give 100% objective advice to help you make better real estate decisions.

Learn more about Clever’s editorial policy and how we make money.

If you have more questions about finding realtors (or Clever’s service), our licensed Concierge Team is standing by seven days a week, 7 a.m.–9 p.m. CST: (833) 225-3837.

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