🔑 Key takeaways:
We Buy Houses is a legitimate cash-buying brand with offices in 49 states.
The name of the business is often confused with "we buy houses companies," a more generic reference to any company that buys houses for cash.
Just like WeBuyHouses.com, other we buy houses companies buy distressed properties for a reduced price. These cash buyers purchase homes from sellers in a variety of situations, including:
- Inherited houses
- Houses facing foreclosure
- Houses that are in need of extensive repairs
✍️ Editor's take
The main appeal of cash buyers like We Buy Houses is that they can close quickly and they'll buy your home as is.
The truth is that these companies rarely pay what you might get for your home on the open market. In some situations, a desperate home seller might prioritize a quick, all-cash sale over getting the most possible value.
Sellers who want to get top dollar for their homes should always try listing on the open market with the help of an agent.
Each local We Buy Houses office is independently owned and operated by a We Buy Houses licensee — a vetted real estate investor who has the exclusive right to use We Buy Houses marketing materials and tools in their county or city.
When home sellers submit their information to We Buy Houses online or over the phone, they're connected with a We Buy Houses investor in their area.
These investors provide fast, all-cash offers and can close in as little as 7 days.
A We Buy Houses investor will purchase your home as is and make all of the necessary repairs themselves.
Pros and cons of selling to We Buy Houses
How We Buy Houses works
Home sellers who are interested in selling to We Buy Houses can submit their information on the company's main website or over the phone. This initiates the process of obtaining a free, no-obligation offer from a local We Buy Houses investor.
- As a home seller, you must provide information about your houses that includes:
- The ZIP code
- Your approximate asking price
- Your reason for selling
- The type of property (single-family, multi-family, etc.)
- Whether or not you're working with a listing agent
- Once you've provided all of the necessary information, a local We Buy Houses investor will follow up with you to get more details and schedule a time to visit your property for an inspection.ⓘ
- Within 24-48 hours of the inspection, We Buy Houses will present you with an all-cash offer. This offer is inclusive of the investor's anticipated repair costs, and there are no fees or closing costs.
- If you accept the offer, you can work with the We Buy Houses investor to choose a closing date and move forward with the sale.
The We Buy Houses investor might also present you with other options, like what you might get on the open market, so that you can compare their offer.
While this might be helpful, it's important to remember that their estimates of closing costs when you sell to a private buyer might be the worst-case scenario, making the We Buy Houses offer look more favorable than it is.
You should always compare your options by speaking to an agent before accepting a cash offer.
Sell fast without sacrificing!
Our Concierge Team can connect you with an agent that can help you sell on a timeline and at a price that works for you.
How does We Buy Houses vet their investors?
Investors who hold a license to work under the We Buy Houses brand name are vetted by We Buy Houses.
For home sellers, this means that you can have more confidence working with a We Buy Houses investor than you would with the typical private cash buyer.
While the vetting process ensures a certain level of professionalism that aligns with the We Buy Houses brand, it's still possible for some investors to provide better service than others.
Investors who apply for a license with We Buy Houses are evaluated based on criteria that includes:
- Experience level
- Number of homes purchased
- Local reputation
- Length of time in business
We Buy Houses also requires investors to sign an agreement stipulating that they'll adhere to the brand's ethical standards while conducting business.
Investors who fail to meet the expectations of We Buy Houses can actually have their license revoked.
We Buy Houses investors don't pay per-transaction fees
Investors with We Buy Houses pay a one-time license fee and an ongoing monthly service fee.
This matters because it means that We Buy Houses investors aren't padding out their offers with fees that they'll have to pay to We Buy Houses. They'll pay the same amount to We Buy Houses whether they buy your house or not.
For comparison, Homevestors — another large cash buying brand — charges franchisees fees that represent a percentage of each transaction, so they have even less margin for profit.
We Buy Houses investors pay an upfront license fee that starts at $17,300 per county, with monthly fees that start at $1,730, so they may be motivated to buy a larger volume of homes to offset this cost.
We Buy Houses has over 2,700 offices across 49 states. The brand continues to grow as new or existing investors can purchase a license in any territory that isn't currently under a license.
Customer reviews for We Buy Houses are overwhelmingly positive, for the most part.
Common themes from positive reviews are:
- Satisfaction with the end-to-end service that We Buy Houses offers
- Clear communication between the investor and the home seller
- A fast, easy closing process
Jennifer in Las Vegas said that the We Buy Houses team was very helpful when they were ready to sell their home:
David in Memphis said the entire transaction was easy and fast:
Kyle from appreciated the customer service that We Buy Houses offered:
While we had a hard time identifying any negative reviews, one customer who purchased a home from We Buy Houses claimed that the repairs were cheap:
Of course, if you're a home seller, you might not care what happens to the home after We Buy Houses purchases it from you, but this could be a concern if you're purchasing a home from an investor.
This negative review only represents one buyer's experience, so it should be taken with a grain of salt. At the most, it suggests that some We Buy Houses investors are interested in a quick flip with minimal repair costs.
Selling to We Buy Houses vs. Selling with a realtor
We Buy Houses doesn't hide the fact that you'll probably make more money selling your house with the help of a realtor.
However, the brand's biggest selling point is that you can get an all-cash offer with no contingencies and close on your own timeline. They'll also purchase your house as is and do all of the repairs themselves.
As good as all of this sounds, just remember that unless you're in a desperate situation, selling as is on the open market isn't just possible — it'll probably net you more money in the end.
If your house is in need of significant repairs, you might be inclined to pay for the work yourself before selling, but labor and materials are likely to cost you a lot more than what an investor or contractor can get them for.
Selling to We Buy Houses vs. Listing with an agent
We Buy Houses
~3% commission (+3% to the buyer's agent)
They pay closing costs
You have to pay some closing costs
Only offers enough to ensure that they'll make a profit (less than fair market value)
Get maximum possible value on the open market.
Very little room for negotiation
Can negotiate with the buyer
No need to prep or do repairs
Must prep and repair your house before listing
If you've already signed a listing agreement, We Buy Houses can still buy your house from you, but you might still be on the hook for the agent's commission.
Even if selling to We Buy Houses suits your situation, working without representation might mean you're leaving money on the table. An agent will be able to evaluate whether or not you're getting the best possible deal.
FAQs about We Buy Houses
Does We Buy Houses pay closing costs?
Yes — WeBuyHouses.com pays all of the closing costs when you sell your house to them.
Is WeBuyHouses.com legitimate?
We Buy Houses is a legitimate cash buyer with licensed real estate investors who operate in all 50 states.
Can We Buy Houses buy a home before foreclosure?
If you're facing foreclosure, We Buy Houses can purchase your home before the foreclosure has been finalized. We Buy Houses might purchase your home for less than what's owed on the mortgage (known as a "short sale"), but your mortgage lender will have to agree to the purchase.
How quickly can We Buy Houses close?
We Buy Houses can typically close in as little as seven days. Most We Buy Houses investors aim to close within 7-14 days.
WeBuyHouses.com. "We Buy Houses Offices."