We Buy Houses companies in Colorado provide all-cash offers for Centennial State homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash fast.
So why would you want to work with these companies? Maybe you’ve just accepted a job offer in Salt Lake City and are looking for a quick, low-hassle way to sell your Fort Collins home during the winter. Or perhaps you’ve inherited your late parents’ Denver bungalow and want to sell it “as-is.”
Whatever the case, a We Buy Houses for Cash company could be the best solution if you’re looking for a quick and easy sale. However, before you request a cash offer, it’s important to understand how much a Colorado house-buying company might offer for your home and explore your options.
We’re going to cover what you can expect when working with Colorado home-buying companies. Then we’ll introduce you to some of the top Colorado cash-for-homes companies for you to consider.
Working with house-buying companies in Colorado
We Buy Houses companies in Colorado 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 what you can expect from the process:
- 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 10 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.
Many of the We Buy Houses companies in Colorado follow some version of the above steps to help people sell their home quickly. However, details such as the amount a company is willing to offer for your home, how much of the process can be done online, and the time required to close may vary depending on who you work with.
Popular We Buy Houses for Cash Companies in Colorado
If these benefits of selling to a house-buying company in Colorado sound good to you, it’s time to find a legitimate operation you can trust. We’ve compiled some of the best home-buying companies in Colorado that will enable you to quickly sell your home for cash.
The Buy-Out Company
Phone number: (303) 557-2266
Locations: Denver and the surrounding areas, including Colorado Springs, Aurora, and Fort Collins
The Buy-Out Company is a veteran in the Denver cash home buyer scene. The operation has purchased over 1,600 properties in the Denver area, which adds up to $644 million in total property value transacted. Their team is led by general partners Doug Perry and Bob Hothem, who together have over 80 years of experience buying and selling real estate.
The company will purchase all types of homes, including those with structural issues and those in risk of foreclosure. The company provides quick offers, flexible closing dates, and $10,000 in earnest money to show that it is serious when buying real estate.
Closing costs: The Buy-Out Company covers a seller’s closing costs, but you are still responsible for any prorated property taxes owed.
Reviews: The Buy-Out Company has 88 Google reviews for an average rating of 4.7 out of 5 as well as a 4.73 out of 5 rating on the Better Business Bureau website. Customers speak of fair offers regardless of if their home was in good condition or in need of serious repairs. Reviewers also commend the smooth sales process, courteous employees, and closing times as quick as 48 hours.
Phone number: (855) 999-7975
Locations: Across the U.S., including Colorado
Simple Sale, a solution from HomeLight, is an online platform where sellers in Colorado (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 Colorado.
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.
Watson Buys is primarily run by couple Shaun and Jen, who have been purchasing and renovating Colorado homes since 2011. They are happy to buy homes in any condition, including those that need serious repairs. Closing times and move-out dates are flexible, and the company can work with you if you’re located out of state.
Although the website is a bit overloaded with information, the company’s A+ Better Business Bureau rating and positive reviews speak to Watson Buys’ credibility.
Closing costs: You pay no closing costs; Watson Buys covers them.
Reviews: Watson Buys has 40 5-star Google reviews between their Denver and Golden offices, leading to a flawless rating. Many reviews speak of prompt and professional communication, Shaun’s excellent knowledge of the real estate market, and fair offers. Customers also comment that the company was happy to make the sale process easier, whether that involved helping move items into storage or letting buyers choose their closing date.
We Buy Houses for Cash Companies in Denver
Looking to sell your home in the Mile High City? Here are a few legit companies that pay cash for Denver homes.
First Integrity Home Buyers
Phone number: (303) 523-7653
Locations: Denver Metro Area
First Integrity Home Buyers has been purchasing homes in the Denver area since 1999. Partners Ed and Wendy can work with sellers in a variety of situations to find a suitable closing date, whether that’s three days or three months. To help prove their serious intentions, they are happy to offer proof of funds and provide substantial earnest money.
Closing costs: You pay no closing costs; First Integrity Home Buyers covers them.
Reviews: First Integrity Home Buyers has a 4.3 out of 5 rating on Google as well as a 4.81 out of 5 rating on the Better Business Bureau website. Customers speak of Wendy’s caring nature as well as Ed’s patience and knowledge of the home sale process. They also say that First Integrity was willing to negotiate to reach a fair deal.
The Buy-Out Company
Phone number: (303) 557-2266
We’d be remiss not to repeat the Buy-Out Company for Denver sellers, as the operation has purchased more than a thousand homes throughout the Denver area. Overwhelmingly positive reviews speak of friendly and knowledgeable employees, smooth processes, and quick closings.
We Buy Houses for Cash Companies in Colorado Springs
If you need to quickly sell your Colorado Springs home near the Garden of the Gods or Rocky Mountain National Park, one of these cash buyers may be able to help.
Sell My House to Smith
Phone number: (719) 629-7740
Locations: Colorado Springs, Pueblo, Fountain, Woodland Park, Manitou Springs, and Canyon City
Sell My House to Smith has purchased hundreds of Colorado homes for over $20 million in sales. After completing a walkthrough of a property, the company can provide a cash offer within 24 hours. While a two to three week closing is typical when working with Sell My House to Smith, the company notes that it can close in as few as three days when “absolutely necessary.”
Closing costs: You pay no closing costs; Sell My House to Smith covers them.
Reviews: Sell My House to Smith has 62 reviews on Google for an overall rating of 4.7 out of 5 as well as a near-perfect rating on the Better Business Bureau website. Reviews speak of the company’s patience and perseverance through difficult circumstances, fair offers, and friendly service. Customers also report employees were knowledgeable without being pushy.
Phone number: (720) 418-8670
Watson Buys purchases homes for cash throughout Colorado, including Colorado Springs. The company is happy to work with homeowners regardless of their home’s condition and their current life circumstances.
Why sell your Colorado house for cash?
While selling your home for cash isn’t for everyone, it does provide the following benefits.
According to data from the Colorado Association of Realtors®, properties in the state stayed on the market an average of 34 days as of Jan. 2022, down from 48 days the year prior.
However, when working with a financed buyer (a likely scenario if you list your home) you also have to account for the typical 54 days a buyer needs to close on a purchase loan — that amounts to 88 days from list to close.
In contrast, when you work with a We Buy Houses for Cash company in Colorado, you can usually expect to receive an offer in as little as a day or two, and close in as few as seven days.
Lenders may not agree to provide financing for homes that fail to meet minimum property standards as evaluated by a home appraiser. So if your concrete driveway has become cracked due to the clay soil and dry weather, or if you have tree roots penetrating your sewer line, it could delay the sale or cause your contract to crumble.
In contrast, Colorado cash-for-homes companies generally purchase homes as-is and are usually going to be a lot more willing to accept issues both large and small with your home. This creates a clearer path to settlement and can be a huge relief if you don’t have the funds or time for repairs.
When you choose to sell your Colorado home with a real estate agent, you’re expected to do things like organize your abundance of ski gear and put away your hiking boots collection. Selling to a cash buyer allows you to skip many of these stressful tasks related to prepping and repeatedly showing the home.
Reduced closing fees
In an agent-assisted sale, you’ll likely pay an agent commission amounting to 5%-6% of the sale price and may be on the hook for additional concessions and closing costs. Selling to a cash buyer will likely eliminate at least some of these fees if not all of them. Many We Buy Houses companies in Colorado and across the nation cover a seller’s closing costs in full as part of the deal.
Cons to working with We Buy Houses companies
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:
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 Colorado 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.
Other options to sell your Colorado home quickly
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 available in many Colorado cities including Denver, Colorado Springs, and Northern Colorado.
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.
Sellers who may be a good fit to work with an iBuyer in Colorado 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 58 days. But hear us out! With Colorado 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 Colorado house-buying companies
Are We Buy Houses companies in Colorado 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 companies in Colorado 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 Fort Collins home 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 Colorado 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 company in Colorado 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 Colorado?
- 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 Colorado vs. Top Colorado Realtor®
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 company in Colorado||Sell with a top Realtor® in Colorado|
|Sale timeline||7 to 30 days||58 days|
|Home preparations||None||Make necessary repairs, deep clean, declutter, landscape, stage home|
|Showings||None required, although some companies will complete a walk through||10 to 25 showings average|
|Inspections / repairs||None required prior to closing, though iBuyers may deduct a repair credit at closing||May need to make repairs for the buyer or renegotiate price|
|Appraisal||A traditional appraisal is not required, but many companies will use their own analytics to come to a fair price||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
Imagine you want to sell your Denver area home, which is currently worth about $525,000 but needs about $15,000 worth of repairs. Once repairs are made, the home should be valued close to the January 2022 median sale price for the area of $540,000. Here’s how selling to a We Buy Houses company and working with a top Colorado real estate agent compares when it comes to your bottom line.
|Sell to a We Buy Houses company in Colorado||Sell with a top Realtor® in Colorado|
|Estimated sale price||($540,000 x .70) – $15,000 = $363,000||$525,000|
|Market preparations||0||$5,250 (1% of sale price)|
|Agent commissions||0||$30,450 (5.8% of sale price)|
|Closing costs||0||$7,875 (1.5% of sale price)|
|Estimated take-home for seller||$363,000||$481,425|
- We Buy Houses for Cash companies in Colorado 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 Colorado, 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 Colorado. 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 Colorado 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. Whatever you decide, HomeLight would be happy to help with your real estate needs!
Header Image Source: (Andrew Coop / Unsplash)