5 Top We Buy Houses for Cash Companies in Delaware

Working with house-buying companies in Delaware

We Buy Houses companies in Delaware 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 of selling your home for cash generally works:

1. You request an offer and provide the company with 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.
2. The company completes a walk-through of your property, usually within 24 to 48 hours.
3. The company makes a firm offer, usually within 24 hours, but sometimes on-site after the walk-through, which you can accept or decline. Most of these businesses will not negotiate on price, so the offer is a take-it-or-leave-it scenario.
4. 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 pay for the home upfront.
5. 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.

Popular We Buy Houses for Cash companies in Delaware

If the quick process of selling to a house-buying company in Delaware sounds good to you, it’s time to find a legitimate operation you can trust.

We’ve compiled some of the top companies that will pay cash for your parents’ Craftsman home in Newark or cottage in Middleton. By working with one of these companies, you should be able to sell your Delaware home in as little as a week or two.

Why sell for cash in Delaware?

There are plenty of reasons a Delaware seller may choose to go the cash-for-homes route, with speed and certainty being chief among them.

In Delaware, selling a home on the open market using an agent takes about 71 to 81 days. That includes an average of 31 days listed on the market until the contract is signed, plus the typical 40 to 50 days a buyer needs to close on a purchase loan.

Compare that to the typical seven days promised by many We Buy Houses for Cash companies in Delaware, 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 Delaware sellers choose cash-for-homes companies over listing the traditional way.

• Significant repairs: The home has major issues common in Delaware, such as foundation cracks, mold growth, or unpermitted additions.
• Urgent life transition: The seller needs to move or cash in quickly due to divorce, job relocation, medical need, or financial stress.
• Costly, time-consuming fixes: The seller doesn’t have the means or desire to make repairs.
• Traditional sale hassles: The seller doesn’t want to bother prepping the home, dealing with showings, negotiating, or navigating a long sales process.
• Discreet sale preference: The seller wants the privacy of selling their home off-market to a cash buyer.
• Foreclosure solution: The seller is in the foreclosure process and wants to sell the home and settle up with the lender before it’s too late.
• Unwanted inheritance: The seller inherited a property and wants to unload it as quickly as possible.
• Landlord fatigue: The seller is a landlord who has problem tenants or no longer wishes to manage a rental property.
• Downsizing transition: The aging homeowner decided to downsize and move into a care facility, prompting their family to sell the home.
• Remote home sale: The seller is living out of state and prefers the ease of a cash sale, which eliminates the need to travel back and forth.

If any of these sounds 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 Delaware

We Buy Houses for Cash companies in Delaware provide speed and convenience, but you may be concerned about not maximizing returns from the quick home sale. Let’s walk through a few pros and cons to consider while weighing your options.

Pros of We Buy Houses for Cash in Delaware

One of the biggest advantages of working with We Buy Houses for Cash companies in Delaware 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 fixes that financed buyers may require.

Here are some other pros to consider:

This can sound very appealing if you’re a seller aiming to move within weeks, rather than spending months listing and selling your home through 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 of We Buy Houses for Cash in Delaware

When considering an offer from a We Buy Houses business, 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 consider:

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 fast, but you could be leaving major money on the table if you don’t consider if you don’t consider other avenues for a quick sale. Always do your research, compare your options, and consult with a trusted advisor before accepting any offer.

Vet cash buyers and know your home’s worth

For many home sellers, We Buy Houses for Cash companies can be a solid solution to selling a property quickly or accessing cash for an expected life challenge. On the other hand, the “cash for your home” rehabbing business model has also led to what some housing advocates call predatory tactics.

The level of integrity and customer service you experience can vary, even within an established house-buying company that strives to maintain consistent business standards. This is because many We Buy Houses for Cash companies are franchises and often use independent investors or local wholesaling outfits. Your experience greatly depends on the character of the person or group making the offer.

If you are considering a cash offer, vet the company thoroughly. Check reviews, read testimonials, and research its presence and performance in the market. And, of course, read the buying agreement carefully before signing.

Get a home value estimate

Before committing to a We Buy Houses for Cash company, HomeLight suggests you consult with a top agent to get a better idea of what your home might be worth if sold on the open market. Then, compare cash offers to what a top agent might be able to get for your home.

HomeLight can connect you with a top-performing agent in Delaware. You can also try our free Home Value Estimator right now to get an initial ballpark estimate in less than two minutes.

Curious What Your Home Is Worth?

Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.

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Other options to sell your home quickly

Working with iBuyers

Within the cash-for-homes business, you’ll encounter a particular group of companies known as instant buyers or iBuyers. These firms 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.

Offering all cash, iBuyers can close in a matter of days to a few weeks. But unlike more traditional We Buy Houses for Cash companies, they tend to look for homes in better condition and offer much closer to market value, typically in the 85% to 95% range.

However, one thing to note is that major iBuyers like Opendoor and Offerpad usually charge sizable fees for their services, between 5% and 6% of the home’s sale price. Sellers who may be a good fit to work with an iBuyer in Delaware include those who prefer to skip staging and showing their home, live in an area with somewhat similar housing, and have a home in relatively good shape.

Listing with an agent

A seasoned agent can help you sell quickly with strategic pricing and an excellent marketing plan. What’s more, selling on the open market generally fetches the highest home price, especially when 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.

Selling your home is a big financial decision, so it makes 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. A CMA is usually at no cost, and you’re under no obligation to list with the agent, so this may be a good tool to explore your options.

Your agent may also connect you with cash buyers who are willing to offer closer to market value for your home.

If you’re overwhelmed trying to find a good agent, HomeLight would be happy to connect you with a top performer in Delaware today.

We Buy Houses for Cash in Delaware vs. top Delaware agent

Wondering how a We Buy Houses for Cash company stacks up against working with a real estate agent? We’ve got you covered.

Example net proceeds

Let’s say your Cape Cod-style home in Dover is currently worth about $365,000 and needs about $30,000 in repairs. Once the repairs are made, the home should be worth around $395,000.

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.

House-buying companies can be a good alternative for Delaware 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, consider your options, gather offers from multiple companies, and consult with a top agent to determine how much and how easily your property could sell on the market.

Editor’s note: This post is for educational purposes only. Links to and mentions of Delaware area “We Buy Houses” companies are not endorsements. Moreover, the program details mentioned above may change. Visit the home-buying company’s website for the most up-to-date information.

Header Image Source: (Stanislav Korol / Unsplash)

Writer Chelsea Levinson contributed to this story.