For whatever reason, you may need to sell your property quickly. Maybe it’s been badly damaged by nature and you can’t afford the repair costs, or you need cash in hand fast. No matter, you’re willing to sell it to a reasonable bidder.
House flipping companies will pay you cold hard cash to take your property in whatever condition it’s in. This article reveals eight excellent options you can consider when you need to sell in a matter of days and weeks, not months.
- Types of House Flipping Companies
- The 8 Best House Flipping Companies
- Top Reasons for Selling to House Flipping Companies
- Pros and Cons of Selling to House Flipping Companies
- Factors to Consider When Choosing a House Flipping Company
- Frequently Asked Questions
- Wrapping Up
Types of House Flipping Companies
Before getting into the roundup, understanding the types of companies you can sell your property to will prove beneficial. They include:
- Flippers: House flippers are the most common buyers you’ll meet when selling your property for cash. These companies purchase properties with the intention of renovating and selling them at a higher price.
- Local Investors: Some companies focus on purchasing real estate locally, limiting their operations to a few regions and states. These investors vary in size and complexity and may be big regional companies or mom-and-pop shops.
- Buy-and-Hold Companies: They’ll purchase your company to receive rental income. Like flippers, they’ll buy a property and do it up. The similarity ends when they rent out the property to tenants.
- iBuyers: Also called instant buyers, these companies rely on technology when making purchases. They use market data and algorithms to make instant cash offers to sellers, charging a service fee when you sell through them.
- Buy-Before-You-Sell Companies: Some companies run buy-before-you-sell schemes that let you remain in a house you’ve sold until you’re able to get the funds needed to purchase a newer residence.
Depending on your property’s location and your particular selling needs, knowing which type of home flipper you’re dealing with will help you get a reasonable price for your home.
The 8 Best House Flipping Companies
Need to flip a house fast? The eight companies discussed below will help you sell as quickly as possible to cash buyers:
- HomeVestors / We Buy Ugly Houses
- We Buy Houses
- I Buy Houses
- Express Homebuyers
- Simple Sale
- MarketPro Home Buyers
1. HomeVestors / We Buy Ugly Houses
Established in 1996, HomeVestors is a veteran player in the real estate market. If this is your first time hearing about the company, you may know it by its other name: “We Buy Ugly Houses.”
True to this alternate moniker, this company doesn’t shy away from distressed properties. But that quality isn’t the only reason house flippers and real estate investors patronize it, as its business model goes beyond a house’s physical appearance.
HomeVestors will buy houses with all manner of issues, meaning your dealings with the company will likely culminate in a cash offer, no matter your reason for selling.
At the time of writing, HomeVestors has over 1,000 franchises across the country. It operates in 47 of the 50 US states.
2. We Buy Houses
We Buy Houses has been in the real estate business since the late 1990s. Though its name shares similarities with HomeVestors’ alter ego (minus the adjective “ugly”), it doesn’t operate a franchising model.
Rather, the company grants licenses to investors with an established real estate buying and selling process. This arrangement has resulted in the establishment of over 200 independent offices across the country.
According to the company, millions of real estate investors trust it when flipping houses. That’s unsurprising, considering the company aims to offer an obligation-free cash offer within 48 hours. The company’s quick response time makes it one of the best to use if you’re into wholesale house flipping.
Like the other entries on this list, We Buy Houses makes cash offers no matter the property’s condition. Although it operates online, the company will send an agent to the house’s address for a market value assessment. You won’t incur any closing costs when you flip houses with this company.
3. I Buy Houses
I Buy Houses, a company that’s been featured on CNN, Fox News, and USA Today, touts itself as “the easiest and most hassle-free way to sell your home.” It has a network of qualified buyers across the country, meaning you can sell your house fast in a short period. Also, I Buy Houses welcomes all sellers, whether you’re dealing with a foreclosure or your house is underwater.
This company has operated in the real estate market since the mid-90s. Not only has it been around for a while, but I Buy Houses claims that its domain name is the 2nd-oldest real estate-related domain in existence. Given its longevity, it’s little wonder that the company operates in most of the 50 U.S. states.
I Buy Houses will purchase homes of all kinds, whether single-family, multi-family, condo, or townhome. The company goes as far as purchasing mobile homes and commercial real estate. Despite its appetite for flipping homes, you won’t feel pressured during the closing process.
Meanwhile, the company lets you decide whether to cover repair costs before selling. If you have the money, you’ll be grateful for this flexibility because doing repair work can improve your home’s after-repair value, which may equal a better price.
4. Express Homebuyers
Express Homebuyers was established in 2003 to simplify the selling process for homeowners. The company offers sellers an obligation-free and low-cost way to sell their homes in weeks. To date, over 4,000 homeowners have sold their homes to them in at least 28 U.S. states, including Delaware, Utah, and Oklahoma.
When you sell to Express Homebuyers, you can “close on your timeline.” Typical transactions last “as little as seven days,” meaning you can receive cash in exchange for your property quickly.
Also, selling to this company lets you avoid margin-eroding costs like repairs and closing fees. You can opt out of time-consuming open houses and negotiations and receive a cash offer a few hours after one of its agents does a home inspection.
HomeGo is one of the best companies to sell a property to if you need extra cash fast. According to this successful house flipping business, you can get a cash offer from them in under 24 hours. By its estimate, the company buys a property every 20 minutes, and you won’t have to spend a dime fixing up yours before selling it.
Its “frictionless approach” eliminates most of the barriers typically associated with a real estate sale. You don’t have to pay closing costs, subject yourself to countless showings, or engage in lengthy negotiations. Best of all, you can close a sale within seven business days of your initial meeting.
HomeGo offers a fair purchase price based on the repairs it’ll need. During its inspection meetings, a licensed real estate agent walks around the property, identifying repair costs they’ll deduct from your home’s sale price. The whole process is transparent, and you can use a house flip calculator if you need to understand the cost breakdown when buying houses.
The company operates in 22 states, including Texas, Massachusetts, California, and Nevada. All of its agents specialize in their respective area’s local markets.
6. Simple Sale
Simple Sale is an online platform from the real estate company HomeLight. Homeowners who need cash offers quickly can use it to connect to sellers and sell their homes in as little as 10 days. You don’t have to do any repairs on the property, and you can receive a cash offer in under 72 hours.
All offers made through Simple Sale are commitment-free. The platform uses data from the local neighborhood and its investor network, ensuring you get competitive offers for your property.
If you sell through them, you won’t need to contend with buyer demands, home showings, or other property transaction incidentals. The platform has pre-approved all cash buyers and investors in its network, so you don’t have to worry about scammers. And when you close, you have 30 days from the close date to move out of the property.
7. MarketPro Home Buyers
MarketPro Home Buyers isn’t as large as the other companies on this list. However, their deep knowledge of the real estate market in the Mid-Atlantic region makes it a fantastic option for house flippers with investments there.
Established in 2012, the company has helped people divest their investment properties in Washington, Florida, Northern Virginia, Maryland, and Pennsylvania throughout its decade-long existence.
Like some of the other companies on this list, MarketPro sends a representative over for a visit. However, you can also arrange a virtual inspection if you prefer.
This company prides itself on its ability to offer a “stress-free sale.” You don’t have to deal with repair costs, closing costs, buyer searches, or lengthy negotiations. Additionally, you can expect to sell your property for a transparent and fair price. And if you need help moving, you’ll find Marketpro’s white-glove service appealing.
Sundae has a simple mission: “help homeowners get a fair price for their house, as-is.” True to its word, they facilitate ultra-fast home sales that are free of repair costs or commissions. Whether the property has sustained damage due to natural disasters, is facing foreclosure, or needs extensive repairs, you can get a reasonable price for it.
When you sell through this company, you can expect to receive multiple cash offers from local investors in your property’s area. You can close these transactions in “as little as 10 days or up to 60 days,” and you can be eligible for a $10,000 cash advance upon accepting an offer.
Sundae lets you take a hands-off approach to marketing. The company prepares your home’s auction listing, arranging photos, 3D tours, and property inspections on your behalf.
Top Reasons for Selling to House Flipping Companies
There are several reasons people sell to house flipping companies. The most common ones include:
- Raise cash quickly (sometimes to pay off an existing debt)
- Sell an unwanted property inheritance
- Avoid a lender foreclosing on the property
- Save time and money spent on renovations and commissions
- Divest a trouble-ridden property
- Bypass the marketing phase of a property transaction
Whatever your reason, selling a home can be a viable option.
Pros and Cons of Selling to House Flipping Companies
Selling your house for cash has merits and demerits, which include:
- Short Sale Time: The closing process is one of the most tedious aspects of house flipping. At this stage, it can take a while for the buyer to purchase the property due to their lender’s due diligence. In contrast, when you sell to a home flipping company, you can close and get paid in as little as two weeks, all cash.
- Avoid Repair Costs: When you sell to a home flipping company, you can save the money you’d otherwise spend on renovating the property into a marketable condition. The majority of these companies purchase properties as-is, regardless of physical condition or debt load.
- Flexible Closing: Many of these companies give you as much time as you need to close a sale.
- Low Offers: In exchange for closing quickly without renovating a property, you’ll have to sell your property below market value. The reason for the lower sale price is that the company that’s buying from you needs to cover the costs of repairs and get a reasonable average net profit.
- Scams: Although many of these companies are safe, there are still a few bad eggs among them. If you’re not vigilant and skip out on research, you could fall prey to a scam company.
Factors to Consider When Choosing a House Flipping Company
When choosing to sell to a house flipping company, consider the following factors:
Choose a company that has nationwide coverage, as there’d be no point selling your property in this way if they aren’t present in your state. Companies with branches in at least half the U.S. states should take higher priority than those without.
Another reason is that it speaks to its buyer network. The more states a company has branches in, the bigger its buyer pool and the quicker you can sell your property.
No Closing Costs
One of the major benefits derivable from selling your property to a house flipping company is that you incur fewer costs. Since you can’t expect to receive a high sale price, it wouldn’t make sense for any costs to eat into the money you do receive.
As standard, most house flipping companies don’t charge you closing fees. Do yourself a favor and move on to another option if you discover one that does.
Better Business Bureau Accreditation
When doing your due diligence on a house flipping company, you can confirm its legitimacy by checking whether it has Better Business Bureau (BBB) accreditation. A company that’s accredited is less likely to pull scams because customers can file complaints.
Although many of these companies are safe, BBB accreditation will assuage any fears you may be harboring.
Frequently Asked Questions
Are House Flipping Companies Legit?
Yes. Companies that offer to buy houses for cash, no matter their condition, are legit. Most of the companies discussed in the article have engaged in this business for at least a decade and have thousands of former clients across the U.S.
That said, the real estate industry is rife with scammers, and it wouldn’t hurt to research a company online before selling to/through them.
Which Is the Best House Flipping Company?
You can sell your house to many excellent companies for cash, but HomeVestors is the best one. Not only does it have the most coverage (47 of the 50 states), but it also has the most franchises in the country. Also, HomeVestors’ willingness to purchase any property type, no matter how “ugly,” is unrivaled.
What Are the Alternatives to House Flipping Companies?
If you’re looking for an alternative way to sell your house quickly for cash, you can try selling through a highly-rated real estate agent. These professionals have amassed a war chest of real estate knowledge and have built a network of buyers and investors. They’ll know how to move a house on the open market within a shorter time.
When you do business with one of the house flipping companies in this article, you can expect a quick sale with few costs, if any. In addition, you won’t need to renovate before selling, nor will you have to pay commissions to agents or other third parties.
Remember to choose a company with coverage that spans most of the U.S. Avoid companies that charge closing fees regardless of your house’s low selling price. And if a company is accredited with the Better Business Bureau, prioritize it for trustworthiness.
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