13 Legit We Buy Houses for Cash Companies in Texas That Sellers Love
We Buy Houses companies in Texas make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.
Maybe you’ve got a small, outdated ranch in Dallas and you’re wanting to escape the city’s explosive growth to find more space in Colleyville. Perhaps your Austin bungalow was damaged in a fire, and you’re not quite up for the repairs. Or maybe, like many Texas residents, you’re ready to leave the Lone Star state altogether and relocate to California or Colorado.
Before you request a cash offer, it’s important to understand how Texas cash-for-homes companies function, how much they might offer for your home, and how you can weigh your options so you don’t leave anything on the table. We also dug into the details on hundreds of We Buy Houses for Cash companies across Texas and rounded up some of the best options available.
Here’s what Texas sellers need to know.
Working with house-buying companies in Texas
We Buy Houses companies in Texas typically promise quick, all-cash offers and ultra-fast closings, often in as few as seven days. They tend to target distressed properties in need of repairs, and work with sellers who need to move ASAP.
Here’s how the process generally works:
- You request an offer and provide the company some information about your home. Some companies may make a preliminary offer at this stage, but it’s usually subject to change once they’ve inspected your property.
- The company completes a walk-through of your property, usually within 24 to 48 hours.
- The company makes a firm offer (usually within 24 hours, sometimes on-site after the walk-through) which you can accept or decline. Most of these companies will not negotiate on price, so the offer is a take-it-or-leave-it scenario.
- If you accept the offer, you’ll both sign a contract and the closing process will begin. Some companies offer a large deposit or moving cost assistance, and a few may even pay for the home upfront.
- Closing and getting paid is quick, typically within seven days to a few weeks. This can vary by company, and sellers who work with a house-buying company often enjoy flexibility in selecting a move-out date that works for them.
Why sell for cash in Texas?
There are plenty of reasons a Texas seller may choose to go the Cash-For-Homes route, speed and certainty being chief among them.
In Texas, it typically takes around 86 days — nearly three months — to sell a home on the market using an agent. That includes an average of 32 days on market, plus the typical 54 days a buyer needs to close on a purchase loan.
Compare that to the seven days promised by many We Buy Houses for Cash companies in Texas, and you can see why these companies remain popular, even though they don’t always offer top dollar.
Not every seller has months to prep, market, show, and close. Let’s look at some common reasons Texas sellers choose Cash-For-Homes companies over listing the traditional way.
- The home has major repair issues common in Texas such as foundation issues, HVAC problems, a roof in need of repair or replacement, or major plumbing needs.
- The seller needs to move or cash in quickly due to divorce, job relocation, medical need, financial stress, etc.
- The seller doesn’t have the means or desire to make repairs.
- The seller doesn’t want to bother prepping the home, dealing with showings, negotiating, or navigating a long sales process.
- The seller prefers the privacy of selling their home off-market to a cash buyer.
- The seller is in the foreclosure process, and wants to sell the home and settle up with the lender before it’s too late.
- The seller inherited property and wants to unload it as quickly as possible.
- The seller is a landlord who has problem tenants or no longer wishes to manage a rental property.
- The homeowner is aging and moving into a care facility, prompting their family to sell the home.
- The seller is living out of state and prefers the ease of a cash sale.
If any of these sound like you, requesting a cash offer from a We Buy Houses for Cash company might be a good starting point, though it’s not your only option, and it may not be your best move (we’ll dive into your other options in just a minute!).
Pros and cons of house-buying companies in Texas
By now, you’ve probably figured out that We Buy Houses for Cash companies in Texas are a bit of a mixed bag. You get speed and service, but you “pay” a sizable premium for that service. Let’s walk through a few pros and cons to consider while weighing your options.
Pros
One of the biggest advantages of working with We Buy Houses for Cash companies in Texas is that you can sell your home as-is with no repairs required, and they’ll buy homes in any condition.
If your home was severely damaged in a weather event, or you’ve fallen years behind on routine maintenance, you can still sell without needing to make the extensive repairs that financed buyers may require.
Here are some other pros to consider:
- Speed: You can often sell your home in as few as seven days.
- Certainty: Since the company does a pre-offer walk-through, their offer is firm and comes with few (if any) contingencies. Cash-For-Houses companies are experts at clearing roadblocks and closing deals.
- No repairs: Again, your home is in rough shape and you don’t have the funds or the patience to make repairs, you can skip them all together and save yourself the stress.
- Less hassle: You don’t have to deal with staging, open houses, fielding offers, negotiating with picky buyers, worrying about the appraisal, or stressing about the buyer’s financing falling through. Overall, reputable We Buy Houses for Cash companies in Texas offer a smooth ride from offer to close.
That all may sound pretty great to you as a seller if you’re looking to move within weeks rather than the months it might take you to list and sell your home on the market with an agent. However, there are downsides to working with Cash-For-Homes companies. Namely, they typically offer substantially below market value for your home.
Cons
When considering an offer from a We Buy Houses site, remember that these are house-buying companies, which means they’re ultimately trying to make a profit. They plan to fix up your home and either resell it or rent it out. That takes considerable time, skill, and investment.
Here are some potential downsides to weigh:
- Lower offers: Most companies follow the 70% rule, meaning they’ll offer you 70% of your home’s after-repair value (or the value that your house could sell for on the market once it’s all fixed up) minus repair costs. So the price you get for your home may be appreciably lower than what you’d get on the market.
- Inconsistent market knowledge: Not all cash homebuying companies are equal. Some are more localized, have specific neighborhood knowledge, and are able to leverage that expertise into more competitive offers. Others are less knowledgeable about the specifics of your community, which could result in lowball bids.
- Not all companies are trustworthy: Some companies make extremely low offers to desperate homeowners and try to pressure you into making a quick decision. A few bad players may even engage in fraud tactics, though it’s uncommon.
- They may use pressure tactics: These companies know that homeowners looking to sell quickly are often desperate, and some do take advantage of that by using pressure tactics. You should never feel pressured to accept an offer, especially since there are plenty of We Buy Houses for Cash companies in Texas to choose from. If anyone makes you uncomfortable, it’s time to move on to another option.
Your home is more than a place where you make memories with family, it’s also likely your biggest asset. Sure, you want to sell quickly, but you could be leaving major money on the table if you choose to work with one of these We Buy Houses for Cash companies.
Always do your research, compare your options, and consult with a trusted advisor before accepting any offer.
Popular We Buy Houses for Cash companies in Texas
Speaking of the abundance of Cash-For-Homes companies available across the state, we did the research, consulted with experts, and rounded up some of the most popular options Texas sellers love.
Texas-wide companies
These companies operate across the state of Texas, so you can likely find one that covers your area no matter what city you live in.
HomeVestors / We Buy Ugly Houses
Contact information: Website
Phone: 866-200-6475
Locations: Nationwide, with 24 Texas locations across cities small and large
We Buy Ugly Houses, under parent company HomeVestors, is the largest major Cash-For-Houses company in the U.S. They’ve been in operation for over 20 years and have purchased over 100,000 homes in cities across America. They’ll buy your house as-is with no repairs, and close in as few as 30 days. This company is among the most reputable, though offers may be on the lower side and sellers’ experiences can vary depending on the office. Our advice? Vet your local office before going with We Buy Ugly Houses.
Closing costs: We Buy Ugly Houses covers most, if not all closing costs.
Reviews: Reviews for We Buy Ugly Houses in Texas are mostly positive, though it does vary by location. For example, the Dallas location has an average rating of 4.8 stars, with plenty of reviews touting their professionalism and fair offers. Meanwhile, the Houston office has an average rating of 3.6 stars, with a few customers complaining about lowball offers or a lack of callbacks.
BBB rating: A+
Simple Sale (a HomeLight platform)
Contact information: Website
Phone: (844) 488-8455
Locations: Nationwide, including Texas
Simple Sale, a solution from HomeLight, is an online platform where sellers in Texas (and across the country) can request a cash offer for their home. Simple Sale has a network of cash buyers on its platform, and partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. This enables Simple Sale to provide cash offers for a wide array of properties, even those that need some or a lot of work, in different locations throughout Texas. With Simple Sale, you can get an all-cash offer in as few as 48 hours and sell your home in as little as 10 days, skipping the months it takes to sell the traditional way.
Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Individual investor fees may vary.
Reviews: Simple Sale is a HomeLight platform, and HomeLight has 4.6 stars on Google based on 355 user reviews. Below you can hear about how Baohan Wu, a seller who used Simple Sale to sell his high-rise apartment, closed within three and a half weeks and what he thought of the process overall.
BBB rating: 4.72/5 stars
Express Homebuyers
Contact information: Website
Phone: (877) 664-9670
Locations: Nationwide, with one franchise in Texas
Express Homebuyers is a trusted national Cash-For-Homes company that can close in as few as seven days. They make an offer on your home in just minutes, though they’ll need to do a walkthrough of the property before finalizing their bid. Other perks of working with this company include skipping repairs, choosing your moving date, and getting a cash advance of up to $20,000 to help with moving costs.
Closing costs: You pay no closing costs, Express Homebuyers covers them
Reviews: There aren’t Texas-specific reviews available for Express Homebuyers, but there are quite a few based on their national brand. Ratings are mostly positive to mixed. On Google, their average rating stands at 4.3 stars with most customers having a positive experience, noting the company’s professionalism, speed, and the high value of service. A few customers complained of lowball offers or lack of communication. On Yelp, Express Homebuyers has an average rating of 2.5 stars, with some reviewers thrilled with the ease of service, and others complaining of pressure tactics, unwanted contacts, and lowball offers.
BBB rating: A+
We Buy Houses
Contact information: Website
Phone: 877-932-8946
Locations: National, with hundreds of franchise locations across Texas in cities small and large
We Buy Houses is another reputable national brand, though it works a bit differently from We Buy Ugly Houses and Express Homebuyers. We Buy Houses has a network of investors around the country that buy the homes instead of the company putting up the money. Their process is simple and straightforward: Submit a contact form and get an offer within 24 to 48 hours (after a home visit). Once you’ve accepted the offer, they’ll close in just seven to 14 days with no repairs necessary.
Closing costs: You pay no closing costs, We Buy Houses for Cash covers them
Reviews: Texas reviewers have mostly positive things to say about We Buy Houses for Cash franchises. Most branches have just a few reviews, but maintain 5-star averages, with customers praising the company’s communication, warmth, professionalism, and the ease and quickness of the service.
BBB rating: A-
Top Cash Offer
Contact information: Website
Phone: (281) 661-8999
Locations: Houston-based company that buys homes anywhere in Texas
Top Cash Offer specializes in making fair all-cash offers on Texas homes in any condition. Once you submit your information, they’ll make you an offer within 24 hours and can close in as few as seven days, or you can pick a closing day that works for you.
Closing costs: You pay no closing costs, Top Cash Offer covers them
Reviews: Top Cash Offer has stellar reviews from happy clients. On Google, they’ve earned an average of 4.9 stars, with reviewers raving about the company’s generous offers, strong communication, and the ease of the process.
BBB rating: A+
House Buyers Texas
Contact information: Website
Phone: 281-504-7027
Locations: Texas-based company with locations in Austin, Houston, San Antonio, and Dallas
House Buyers Texas is a veteran-owned business that will purchase any type of property across Texas. This company is all about speed, giving you a same-day offer, and closing in as few as three days. They’ll buy homes in any condition, and you can choose your closing date.
Closing costs: You pay no closing costs, House Buyers Texas covers them
Reviews: House Buyers Texas only has 16 Google reviews at the time of this publication, but they maintain a perfect 5-star rating, with customers raving about the company’s strong offers, knowledgeable and kind service, and quick closings. The owner, U.S. veteran Steven Hoeke, also co-owns a real estate agency (The Hoeke Team) with his wife Beverly. The Hoeke Team boasts a perfect 5-star rating, with strong marks in communication, knowledge, expertise, and patience.
BBB rating: A-
Texas city-specific companies
These Texas city-based companies focus in one geographical area, often with an emphasis on having tailored expertise within each neighborhood.
We Buy Houses for Cash Companies in Houston
Top Cash Offer
We’d be remiss if we didn’t mention Top Cash Offer again. As a Houston-based company that operates across Texas, they’re one of the strongest reviewed Cash-For-Homes locations in the Lone Star state.
Houston Capital Homebuyers
Contact information: Website
Phone: (713) 581-9075
Locations: Sugar Land, TX location serving the Houston metro area and beyond
Houston Capital Homebuyers have been in operation for 14 years, and have purchased hundreds of homes in the area during that time. Like most Cash-For-Homes companies, they make quick offers on homes in any condition and can close in as few as seven days. But they also have some unique features, including a virtual walk-through option rather than in-person, a best cash offer guarantee, and moving cost assistance for those relocating in the Houston area.
Closing costs: You pay no closing costs, Houston Capital Homebuyers covers them
Reviews: Houston Capital Homebuyers has a perfect 5-star rating on Google, with customers raving about their professionalism, honesty, integrity, and service.
BBB rating: A+
We Buy Houses for Cash Companies in Dallas
Cash House Buyers DFW
Contact information: Website
Phone: 214-272-2177
Locations: Dallas-based company that purchases homes anywhere in the Dallas/Fort Worth area
Cash House Buyers DFW will purchase homes in any condition. Once you submit your information, you’ll get a cash offer in 24 hours, and the company can close in as few as seven days, or on any timeline you choose.
Closing costs: You don’t pay any closing costs, Cash House Buyers DFW covers them
Reviews: Cash House Buyers DFW have a perfect 5-star rating on Google, with customers loving the company’s professionalism, honesty, and better-than-average offers.
BBB rating: A+
Big Texas Homebuyers
Contact information: Website
Phone: 214-444-9385
Locations: Dallas/Fort Worth area company
Owner Heather Faires has been helping distressed homeowners in Dallas since 2007, and in 2014 started Big Texas Homebuyers. The company touts instant offers over the phone or online, and can close in as little as seven days.
Closing costs: You pay no closing costs, Big Texas Homebuyers covers them
Reviews: Big Texas Homebuyers have an average of 4.5 stars on Google, with reviewers saying they love the company’s professionalism, area knowledge, and strong offers that beat the competition.
BBB rating: A+
We Buy Houses for Cash Companies in San Antonio
Sell My San Antonio House
Contact information: Website
Phone: (210) 201-6644
Locations: San Antonio-based company
Sell My San Antonio House is a family-owned company founded by local Nick Disney who’s bought hundreds of area homes over the past 10 years. One of the big advantages of this company is their local, specialized experience in San Antonio. Like most of these companies, they will purchase homes in any condition in as few as seven days, or on your timeline.
Closing costs: You pay no closing costs, Sell My San Antonio House covers them
Reviews: Sell My San Antonio House has a perfect 5-star rating on Google, with reviewers commenting on the company’s responsiveness, honesty, compassion, and knowledge.
BBB rating: A+
We Buy All Houses San Antonio
Contact information: Website
Phone: (210) 300-3307
Locations: San Antonio-based company
Run by husband and wife team Liz and Tony Perez, We Buy All Houses San Antonio is popular for its fair offers and strong customer service. They provide an offer for homes in any condition within 24 hours, and can close in as few as seven days. In some cases, they can put a check in your hand the very same day.
Closing costs: You pay no closing costs, We Buy All Houses San Antonio covers them
Reviews: We Buy All Houses San Antonio has a perfect 5-star average rating with an impressive 100+ reviews. Customers love their care, professionalism, promptness, and responsiveness.
BBB rating: A+
We Buy Houses for Cash Companies in Killeen
Liberty Homebuyers
Contact information: Website
Phone: (512) 961-9943
Locations: Killeen-based company that covers all of Central Texas
Liberty Homebuyers, founded by Dominic Mauro, is a Killeen-based company with plenty of local expertise. They operate similarly to many of these companies, with quick, fair offers within 24 hours, and a closing in as few as seven days. Unlike many cash-for-homes companies, they offer transparency on their site about how they make their offers.
Closing costs: You pay no closing costs, Liberty Homebuyers covers them
Reviews: Liberty Homebuyers enjoys a 5-star average on Google, though there are currently only nine reviews. Customers liked the company’s honesty, integrity, and the smoothness of the transaction.
BBB rating: A+ (not accredited)
A-List Properties
Contact information: Website
Phone: (972) 526 7042
Locations: Dallas-based company that purchases homes in cities across Texas, with Killeen being a strong area of focus
A-List properties is a family and veteran-owned business that focuses on many smaller cities in Texas. They offer instant offers on homes in any condition, and can close in around 14 days.
Closing costs: You don’t pay any closing costs, A-List properties covers them
Reviews: A-List properties has a 5-star average on Google, though there are only 12 reviews currently. Customers love the company’s communication, professionalism, and expertise.
BBB rating: A
Other options to sell your home quickly
iBuyers
Within the cash-for-homes business you’ll also encounter a particular group of companies known as iBuyers, or instant buyers.
iBuyer companies offer sellers many of the same conveniences of other house-buying operations, but they also leverage algorithmic technology, otherwise known as automated valuation models (or AVMs), to make you a near instant offer on your home and provide a user-friendly, mostly online home sale experience.
iBuyers have only been around since the mid-2010s, but are now widely available across Texas.
iBuyers offer all-cash and can close in a matter of days to a few weeks. But unlike more traditional We Buy Houses for Cash companies, iBuyers tend to look for homes in better condition and offer much closer to market value, typically in the 90% range — and sometimes more, particularly in a hot real estate market.
Though one thing to note is that major iBuyers like Opendoor, Offerpad, and Redfin usually charge sizable fees for their services, between 5% and 13%.
Sellers who may be a good fit to work with an iBuyer in Texas include those who prefer to skip staging and showing their home, who live in an area with somewhat similar housing, and who have a home in relatively good shape.
Listing with an agent
We know, we know. You want to sell your house quickly, not in 86 days. But hear us out! With Texas housing markets heating up in favor of sellers, many listings are flying off the market in a matter of days, especially those that are priced strategically.
Going with an agent could pay off big time. Selling on the market generally fetches the highest home price, and that’s especially true if you work with a skilled professional. Our internal transaction data at HomeLight shows that the top 5% of real estate agents sell homes for up to 10% more than average agents.
This is a big financial decision, so it may make sense to consult with a trusted real estate agent who can complete a comparative market analysis (CMA) to help you understand your home’s value and how quickly it’s likely to sell.
Your agent may even be able to connect you with cash buyers who are willing to offer closer to market value for your home.
Plus, a CMA is usually free and you’re under no obligation to list with the agent, so this may be a good tool to explore your options. Even if you end up deciding to work with a Cash-For-Homes company, at least you’ll know you’re making a sound financial decision.
Overwhelmed by finding an agent? HomeLight would be happy to connect you with a top performer in your area today.
FAQs on Texas house-buying companies
Are We Buy Houses for Cash companies legit or scams?
Most We Buy Houses for Cash companies are legit, and you can rest assured that this business model has been around for decades.
However, it’s always a good idea to keep an eye out for scams, or anything that just doesn’t seem right. Always thoroughly research companies ahead of time. Verify all professional licenses, check customer reviews, get a referral if possible, and vet the company on the Better Business Bureau website.
How much will We Buy Houses for Cash companies in Texas pay?
Most Cash-For-Homes companies follow the 70% rule, meaning they’ll offer you 70% of your home’s after-repair value, minus repair costs.
Here’s what that simple formula looks like:
(Your home’s ARV x .70) – repair costs
Now let’s take a look at a practical example. Let’s say your Houston craftsman could sell for $350,000 after repairs, but it’s going to need $80,000 of work to get there.
($350,000 x .70) – $80,000 = $165,000
In this example, a Texas cash-for-homes company will probably offer you around $165,000 for your property.
However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more like 90%-95% of market value while charging a fee for their services.
How much does selling a home to a We Buy Houses for Cash company in Texas cost?
Selling a home to a We Buy Houses for Cash company shouldn’t cost you any money, though you’ll likely get less overall for your home.
Since these companies are geared toward distressed homes, they tend to have zero fees, and will even cover your closing costs. That means the offer you get is the price you should walk away with. Make sure to ask about any hidden program fees that could eat into your bottom line.
How do you sell a house for cash in Texas?
- Research and vet house buying companies available in your area. The above list is a great place to start.
- Submit offer requests to your top few companies.
- Schedule any on-site visits.
- Field and compare offers. Choose the best option for you.
- Close in a week to 30 days and get paid (or you can often choose a later closing date, up to 90 days after offer)
We Buy Houses for Cash in Texas vs. top Texas agent
Wondering how a We Buy Houses for Cash company stacks up against working with a real estate agent? We’ve got you covered.
Aspect of the sale | Sell to a We Buy Houses for Cash company in Texas | Sell with a top Realtor in Texas |
Sale timeline | 7 to 30 days | 86 days average; 32 to attract an offer, 54 to close the loan |
Home preparations | None | Make necessary repairs, deep clean, declutter, landscape, stage home |
Showings | None | 10 to 25 showings average |
Inspections / repairs | None | May need to make repairs for the buyer or renegotiate price |
Appraisal | None | May need to lower the price if appraisal comes in low |
Title search | Cash-for-homes companies often handle title issues | Must clear title before you can sell home |
Financing contingency | None | Mortgaged buyers use a financing contingency that could hold up the deal if the loan doesn’t clear |
Agent commission | None | 5.8% average |
Closing costs | None | 1% to 3% of sale price on top of commission |
Example net proceeds
Let’s say your pueblo style home in El Paso is currently worth about $275,000 and needs about $15,000 in repairs. Once the repairs are made, the home should be worth around $300,000.
Sell to a We Buy Houses for Cash company in Texas | Sell with a top Realtor in Texas | |
Estimated sale price | ($300,000 x .70) – $15,000 = $195,000 | $275,000 |
Market preparations | 0 | $2,750 (1% of sale price) |
Agent commissions | 0 | $15,950 (5.8% of sale price) |
Closing costs | 0 | $4,125 |
Estimated take-home for seller | $195,000 | $252,175 |
Obviously, financially it’s usually in your best interest to go with a top agent, but depending on the condition of your home and any repairs needed, selling on the open market could be challenging.
Key takeaways
- We Buy Houses for Cash companies in Texas can offer you a way to sell your home in as few as seven days with no repairs, showings, or hassles.
- There are many reputable cash homebuying companies across Texas, and most sellers going this route can find a company that suits their needs.
- You could leave significant money on the table using a Cash-For-Homes company versus going with a top agent or iBuyer.
- HomeLight’s Simple Sale platform provides all-cash offers for homes in almost any condition in Texas. Because the platform has partner investors with different buying parameters across the state, it can be a great starting point if you aren’t sure who would buy your home.
House buying companies can be a good alternative for Texas sellers in need of a quick exit from homeownership, but they’re not without drawbacks. However you choose to sell your home, it’s important to avoid making a hasty decision.
For best results, take the time to weigh your options, gather offers from multiple companies, and consider consulting with a top agent to see how easily your property could sell on the market. Happy selling!
Header Image Source: (Alisa Matthews / Unsplash)
from HomeLight Blog https://www.homelight.com/blog/we-buy-houses-texas/
Nhận xét
Đăng nhận xét