When you need to sell your house fast or can't afford massive repairs, selling to a We Buy Houses for Cash company may be your only option. In West Palm Beach, it can take 111 days to sell your home with a traditional agent. Compare that to a cash buyer that can complete the transaction in one to two weeks, with no out-of-pocket expenses.
Unfortunately, you’ll get (at most) 70% of your true home value from a We Buy Houses company. Many sellers can make far more on their home sale with a different approach.
For example, if you have an extra two to three weeks to sell, Clever can connect you with a full-service real estate agent with a proven track record of selling homes in your area quickly and for top dollar. Clever also pre-negotiates lower commission fees of 1% or $3K with its network of agents.
Top West Palm Beach We Buy Houses companies
We've compiled objective, public information from cash buyer companies in West Palm Beach to help you compare options and make an informed decision.
✍️ Editor’s note
These businesses make few public disclosures, so it can be difficult to find information. We recommend contacting multiple companies for terms and offers on your property to get the best deal.
Time To Offer
Minimum Time To Sell
Florida Cash Home Buyers, LLC is a local investment company that has been buying and selling houses for cash in Florida since 2011. To sell your home to Florida Cash Home Buyers, you can:
- Submit an online form, giving details about your property
- Receive a no-obligation offer
- Choose a closing date and sell your home
For more information, including specific areas of operation, terms of service, and other details, we recommend reaching out to the company directly.
Florida Cash Home Buyers is based in Fort Lauderdale but buys properties all across the state in mid-large markets. Find a full list of serviced areas on its website.
Time to Offer
Time to Sale
Florida Cash for Home is a local, Florida property investor that buys homes in Miami, Fort Lauderdale and Palm Beach. To sell your home with Florida Cash for Home:
- Call their direct line to receive an initial cash offer
- Set up a physical appointment and receive an updated offer after the walkthrough
- Expect to close in 7 days or on your own schedule
Florida Cash for Home buys homes throughout Miami-Dade, Broward and Palm Beach counties.
N/A — as of May 2021, no third-party review information was available for Florida Cash for Home.
Time to Offer
Time to Sale
House Heroes is a local, Florida property investor that buys homes for cash in select cities across the state. To sell a home to House Heroes:
- Call directly, and receive an offer over the phone
- Expect to close on your own timeline
House Heroes primarily services South Florida, though also buys properties in parts of California, Massachusetts and more. Click here for the full list of offerings.
Time to Offer
Minimum Closing Time
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 their investors and gives them an exclusive license to operate in their 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 their investors offer, they do reserve the right to rescind licenses if investors don't meet their ethical standards.
- Offer in 24-48 hours
- Vetted, reputable real estate investors
- No need to worry about repairs
- Close in just seven days
- Little to no room for negotiation
- Individual investors have different strategies, so they may value your home differently
- Licenses are exclusive, so there is only one We Buy Houses option in your area
We Buy Houses has over 2,700 offices across 49 states.
Reviews online are only available on local Facebook pages.
The vast majority were positive, with customers saying that the We Buy Houses investor they worked with was fast and professional. The only negative review we found had to do with a customer who purchased a home from We Buy Houses and felt that the repairs they made before selling were cheap.
- Website: https://webuyhouses.com/
- Phone Number: (877) 932-8946
Time to Offer
Minimum Closing Time
No cost for seller
We Buy Ugly Houses has a better reputation than most individual cash buyers, but the home seller's experience can vary based on the quality of their local franchise. While We Buy Ugly House can close in as little as three weeks, it's common knowledge that they pay far less than fair market value.
- Trusted, nationally recognized brand.
- No need to worry about repairs.
- Close in just three weeks.
- 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 46 states.
As of April 26, 2021, 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: https://www.webuyuglyhouses.com/
- Phone Number: 866-200-6475
Time to Offer
Time to Sale
Express Homebuyers is a national service that has partnered with local investors across the country to buy houses for cash.
Steps to sell with Express Homebuyers:
- Submit your home's information to receive an initial "as is" offer
- Meet with the local investor to assess your property and answer any questions
- Discuss the local investor's final cash offer and, if you're willing to sell, sign a sales agreement then and there
- Choose a closing day on your schedule
- Show up on the day of the sale to sign the paperwork and receive cash within hours
Express Homebuyers has partnered with local investors in the following states:
How We Buy Houses Companies work
Traditional Listing Process
We Buy Houses for Cash Process
Prepping the House
1 to 8 weeks
Time to Offer
Minimum Time to Sell
*Days on market based on Realtor.com metro-level data
**Assuming you can find a buyer who will buy your home as-is allowing you to avoid spending time on repairs.
To buy homes quickly and make a profit, most We Buy Houses for Cash companies in West Palm Beach use the same process:
- A homeowner submits information about their property, and the cash buyer decides if the home fits their criteria for a profitable investment. If the house fits the investor's criteria, they may give the seller a rough estimate of what they'll pay.
- A representative from the company will evaluate the property and, based on the repair costs and resale value, they'll make a cash offer.
- If the seller accepts, closing happens quickly; there's no need for inspections, appraisals, or financing approval.
- The West Palm Beach We Buy Houses for Cash company makes repairs and sells it, earning a substantial profit.
Compare this speedy process with the traditional home selling process:
- If your home needs extensive repairs, it can take months (and tens of thousands of dollars) to complete.
- In West Palm Beach, a home typically spends 66 days on the market before the seller receives an offer.
- The closing process can take an additional 30-45 days if the buyer applies for a traditional mortgage. You'll have to deal with appraisals, inspections, and further negotiations with the buyer.
- If financing is denied, or another issue occurs with the buyer, the house has to go back on the market and the cycle starts again.
West Palm Beach We Buy Houses companies pros and cons
We Buy Houses for Cash companies are an extremely beneficial option for certain sellers like:
- Homeowners facing foreclosure
- People who've inherited unwanted property
- Homeowners who can't afford extensive repairs
- Homeowners who need to sell fast, due to divorce or other issues
Pros of using We Buy Houses companies
- Cash offers mean speed and certainty: The longest portion of the home selling process involves buyer financing. Cash buyers don't need to go through this lengthy process, though, since they have access to immediate capital.
- No need for repairs: These companies make lower offers to account for repair costs. This solves the difficult problem of finding a buyer if you’re selling as-is on the open market.
- Lower costs: Selling a house is expensive. There are associated costs like concessions, carrying costs, and commissions that reduce a seller's profits. We Buy Houses companies allow sellers to avoid those costs.
💰 Homeowners can usually avoid these expenses by selling to a cash buyer:
We Buy Houses for Cash Company
$74 per day
$74 per day
Cons of using We Buy Houses companies
- Take-it-or-leave-it offers: There is no negotiating with We Buy Houses for Cash companies. Their representatives evaluate your home and necessary repairs to arrive at a price. If you disagree, your only option is to walk away.
- Predatory tactics: Often, homeowners who consider using these companies are facing difficult life situations. Some "opportunity investors" take advantage of these situations and pressure sellers to accept low offers.
- Lower offers: Even by avoiding other selling costs, selling to a We Buy Houses company still leads to a lower take-home amount because their offers are never more than 70% of after-repair value (ARV).
Consider an example where the home needs 10% of its ARV in repairs. If you sold to a cash buyer, they would deduct that from their offer. If you sold with an agent you could cover that 10% in a variety of ways (by offering lower price, repair credits, etc.).
Selling to a We Buy Houses Company
Selling with a Traditional Realtor
Max Take Home
*Compared to fair market value
Alternatives to We Buy Houses companies in West Palm Beach
We Buy Houses for cash companies are never your only option. It's important to weigh all important factors (like time to sell, take-home amount, and convenience) before making a decision.
Let's look at a breakdown of how much a seller in West Palm Beach could walk away with through three different options: selling to a cash buyer, selling with a traditional realtor, and selling with a discount real estate company like Clever.
We'll use the median listing price in West Palm Beach, which is $425,900, and relevant selling cost rates (closing costs, repair costs/credits, carrying costs, etc.)
West Palm Beach home selling cost breakdown
We Buy Houses
Clever Real Estate
*Based on data from realtor.com
☨Based on the 70% rule and assuming the house needs 10% of its ARV in repairs
^Based on HomeAdvisor nationaal average
**Based on the average time it takes for homes listed with Clever to receive an offer 24.1 days and a 30-day closing process
As you can clearly see in the table above, We Buy Houses companies help people quickly sell their homes. However, your other options are much better in the long run, so if you have time, using a We Buy Houses company is almost never the best option.
Frequently asked questions about West Palm Beach We Buy Houses companies
How much will We Buy Houses for Cash companies pay in West Palm Beach?
As real estate investors, cash buyer companies need a buffer that increases their chances of a profit. This is where the 70% rule comes in.
Essentially, the 70% rule says a cash buyer shouldn't pay more than 70% of the property's After Repair Value (ARV) — what they hope to sell the house for in a fair market — minus repairs. This gives them some wiggle room if the house's condition is worse than suspected or it takes longer to resell the home.
Are We Buy Houses for Cash companies scams?
Most cash buyers are legitimate companies that have been buying homes in their communities for years. But there are bad apples.
Don't be taken advantage of.
Make sure the offer you receive is legitimate and worth your consideration:
- Never sign a contract without reading it or when you feel pressured to do so.
- Check online reviews of the company. Note that many of these companies have similar names, so double-check that you're looking at the right one.