Some companies in Texas offer to buy homes for all cash. These houses may or may not need some repair work. The sellers who don’t have time, money, and skill to get the repair done often want to sell the homes in as-is condition. Also, the owners who want to move out quickly and relocated look forward to getting the cash for their home.
If you also have a property that is outdated or needs significant repair, and like many Texas residents, you don’t want to invest your time and effort in the repair job, then selling for cash is one of the best options you have. However, before looking for cash offers, it is essential to know how cash home-buying companies work in Texas. What offers can you expect for your home, will they give a fair value, how to consider the offers, and more to make a profitable proposition?
Let us dig into the details and help you know how to Sell your house fast for cash.
Selling a home in Texas for Cash
If you are a seller who does not want to do repairs, staging, home marketing, open houses, etc., then look for getting an all-cash offer deal for your homes. We Buy Houses and iBuyer companies in Texas assure of providing a quick all-cash offer. They also ensure to close the sale deal faster than you would have imagined. While “We Buy Houses” target distressed properties that need repairs, the sellers who have in good condition can connect with iBuyers to get a better price for their home.
To request an offer, you need to mention all the details about your home. The companies will then make a preliminary offer to you. After the property is inspected and a walk-through is done, you will get a final offer within 24 to 48 hours. The company makes a non-negotiable offer that you can either accept or refuse. These companies do not negotiate the home price.
In case you like the offer and accept it, both parties sign the contract and the closing process starts. The companies might make a large deposit or help you with moving costs, while some pay the entire amount upfront.
So, this way you can expect to get paid within seven days to a couple of weeks. The sellers may speak to the house-buying company about the move-out date that is most convenient for them.
Why does selling for cash makes sense in Texas?
There is a plethora of reasons why a Texas seller wants to sell a house for a cash deal. Otherwise, usually, it may take around three months to sell a home in the Texas market, even if you hire an agent. On average, the house is there for 32 days on the market along with the time needed by the buyer to take a purchase loan. But a cash offer is closed in as less than seven days. This is the most prominent reason Cash companies in Texas becoming popular, even if they don’t offer good money.
Other reasons that make selling for cash a sensible decision are:
- If you are a seller who is averse to preparing, marketing, showing, etc. your home, then choose Cash companies rather than going for the traditional way.
- If your home needs a major repair like foundation issues, HVAC issues, roof repair, significant plumbing needs, and other expensive repairs, it is better to sell the home for cash.
- The seller needs to relocate soon or needs cash to settle divorce, job relocation, etc.,
- Some sellers need immediate cash to meet their medical requirements and financial stress.
- The sellers who are under foreclosure process, can sell the home for cash and settle up things.
- The seller who is selling inherited property
- The seller does not want to manage a rental property.
- The sellers believe that the home is aging and must be disposed of.
- Cash companies like We Buy Houses for Cash in Texas buy the home as-is without needing any repair work done. So, when you find that your home is tremendously damaged or is not maintained for years, then you can still it sell without making any repairs.
Why selling for cash may not work for you?
Here are some of the downsides of cash selling:
- Most cash companies offer only 70% of your home’s FMV. They deduct huge repair costs and you get a lower price for your home than what you get in the open market.
- Some cash-buying companies are less knowledgeable and may offer lowball bids.
- Some companies make very low offers to homeowners who are desperate to sell homes fast. These companies take advantage of that and the seller may feel uncomfortable.
To beat this, research well and compare your options. Also, consult with a legal advisor and then accept the offer.
Cash companies in Texas
Here are some Companies that buy houses for cash in Texas.
We Buy Ugly Houses
We Buy Ugly Houses or the parent company HomeVestors buys for cash. Working for more than 20 years, they have bought more than 100,000 homes in the US. They buy homes that are in as-is condition without needing any repairs. They are also known to close the deal in less than 30 days. This company is one of the most trusted names, though they make low-priced offers. There are positive reviews for We Buy Ugly Houses in Texas.
Simple Sale is associated with HomeLight. This online platform allows sellers in Texas to register as cash request offers. Simple Sale is a network that connects cash buyers and investors. Simple Sale offers to buy cash homes of different varieties, right from the homes needing a lot of work to those homes that may not need repair. With this online platform, you can expect to get a cash offer in 48 hours.
Express Homebuyers is another reputed name that buys homes for cash. They are known to close the deal in less than seven days. They make an instant cash offer and then go for a walkthrough of the property before presenting the final bid. Working with this firm means you need not do repairs, choose a moving date as per your comfort, get cash advance to manage your moving costs, etc.
Opendoor is an iBuyers company. They also make an instant cash offer at a better price. But they buy only those houses that have good condition. They levy a service fee of 5%.
Considering to sell your house for cash? Also explore the option of Houzeo, one of America’s leading online real estate websites. The company will not only connect with you a pool of cash buyers but also help you know the details of the home sale such as How Much is Title Insurance, etc.