5 Top We Buy Houses for Cash Companies in Homestead
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Joseph Gordon Associate EditorJoseph Gordon is an Associate Editor with HomeLight. He has seven years of experience reporting on the commercial real estate and insurance industries. He holds an MFA in Creative Writing from the University of San Francisco.
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
Looking to sell your Homestead house quickly? We Buy Houses companies specialize in fast cash offers, often for homes needing repairs. This can be ideal if you lack the time or money for extensive fixes and need to move on quickly.
Maybe you’re facing a job relocation, downsizing, or an unexpected situation. Whatever your reason, a cash sale can be a solution.
But is it the best option for you? Let’s dive into the pros and cons of working with We Buy Houses companies in Homestead so you can make the best decision for your needs. We will also look into how the process works and provide alternatives.
Sell Your House Fast in Homestead With a Cash Offer
Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in 24 hours and close in as few as 10 days. No showings, no repairs, no open houses. Available to sellers throughout Homestead, FL.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Homestead area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Homestead
Thinking about selling your house fast to a We Buy Houses company in Homestead? Here’s a simplified rundown of the process:
1. Get Quotes: Contact a few We Buy Houses companies and provide basic details about your property. They’ll give you a preliminary offer, often within 24 hours.
2. Schedule a Walk-Through: If you’re interested in an offer, a representative will visit your house for a quick inspection.
3. Receive a Formal Offer: The company will present a formal all-cash offer based on the walk-through.
4. Review the Offer: Consider the offer amount and closing terms before deciding. Get clarification on any questions you have.
5. Accept the Offer: If you’re happy with the terms, accept the offer to move forward with the sale.
6. Close the Deal: Meet with the company’s representative at closing to sign paperwork and receive your cash proceeds.
Popular We Buy Houses for Cash companies in Homestead
If the process of selling to a house-buying company in Homestead 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’ Cracker Home or bungalow. By selling to one of these companies, you should be able to sell your Homestead home in as little as a week or two.
The Friendly Home Buyer
Established in 2017, The Friendly Home Buyer, a Miami-based house-buying company, emphasizes speed and assurance of cash sale closings within three days. Owned by Jared Sandel, boasting real estate industry experience dating back to 2011, the company commits to providing an instant cash offer once minimal information is submitted online.
Locations: Serves South Florida, including Homestead.
Closing costs: Sellers pay no closing costs; The Friendly Home Buyer covers them.
The Friendly Home Buyer, accredited by BBB since 2017 with an A+ rating, has earned a 4.9 Google star rating. Customers commend their speed, friendliness, caring approach, fair offers, and hassle-free process for selling homes ‘as is’ for cash.
Website: thefriendlyhomebuyer.com
Phone number: 888-713-9158
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Homestead (and across the country) can request a cash offer for their home. Simple Sale connects you to the largest network of cash buyers in the U.S. 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 Homestead.
With Simple Sale, you can get a no-obligation, all-cash offer in 24 hours and sell your home in as few as 10 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including Homestead.
Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a HomeLight platform. HomeLight was founded in 2012 and is BBB-accredited with an A+ rating. The company has 4.8 stars on Google based on hundreds of 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.
Learn more: homelight.com/simple
Phone: 844-488-8455
All About Real Estate
All About Real Estate (AARE) has held BBB accreditation with an A+ rating since 2018. It offers closings in as little as seven days, longer if needed. This extends to various property types, including distressed homes or those with challenges like hostile tenants, liens, or violations.
Locations: All over Florida, including Homestead.
Closing costs: You pay no closing costs; All About Real Estate covers them.
All About Real Estate maintains a 5.0 rating. Customers laud the company’s integrity, prompt delivery on promises, and legitimacy as real estate buyers in South Florida. Other reviews praise their knowledge and transparent processes.
Website: allaboutrealestate.com
Phone number: 786-753-8500
FL Cash Home Buyers
Formed in 2011, FL Cash Home Buyers, LLC has completed over 800 real estate transactions.
Along with providing complete cash offers to purchase homes in “as is” condition, Florida Cash Home Buyers also offers another sale option where the company completes necessary repairs on the property and helps you find a third-party buyer.
Locations: Throughout Florida, including Homestead.
Closing costs: You pay no closing costs; FL Cash Home Buyers cover them.
FL Cash Home Buyers has over 140 reviews on Google for an average rating of 4.8 out of 5 stars. Past customers speak highly of the employees’ attentiveness, responsiveness, and ability to answer questions. Most people report that the closing process was fast and simple, even when customers were dealing with difficult circumstances.
Website: floridacashhomebuyers.com
Phone number: 954-519-7040
Fair Offer Florida
Based in Fort Lauderdale, Fair Offer Florida launched in 2021 and bills itself as passionate about helping homeowners facing foreclosure. Sellers are asked to contact the company for criteria details. However, one benefit of their service is that they allow sellers to leave behind any unwanted items in the home at no additional charge. They promise no fees or commissions and a closing date selected by the seller in as little as seven days.
Locations: All over Florida, including
Closing costs: Sellers pay no closing costs; Fair Offer Florida covers them.
The Better Business Bureau gives Fair Offer Florida an A+ rating and lists the company as being associated with Schaal Group, LLC. There are currently no customer reviews posted on the BBB site. Two Google reviews give the company 4.1 stars, with one saying that everything went smoothly from start to finish and that they would recommend the service to friends and family.
Website: fairofferflorida.com
Phone number: 954-710-6056
Why sell your Homestead house for cash?
There are plenty of valid reasons a Homestead home seller may choose to work with a Cash-For-Homes company, including speed, ease of transaction, and a near-guaranteed sale.
In Homestead, selling a home on the market typically takes around 102 days using an agent. That includes an average of 56 days on the market plus the typical 46 days a buyer needs to close on a purchase loan.
Compare that to the typical seven to 10 days promised by many house-buying companies in Homestead, and it’s clear why these Cash-For-Homes groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
- Need a Fast Sale: Your house needs to be sold quickly due to a life change like a job relocation, divorce, medical emergency, or financial hardship.
- Cash in on Equity Quickly: You need to access the equity in your home fast, perhaps to pay off debts or invest in a new opportunity.
- Avoid Repairs and Updates: Your house needs repairs you don’t have the time or money for, and you’d prefer to sell it as-is.
- Skip the Hassle: You want to avoid the stress of listing, showings, negotiations, and closing complexities of a traditional sale.
- Sell Discreetly: You prefer a private, off-market sale to a cash buyer.
- Facing Foreclosure?: You’re facing foreclosure and need to sell fast to avoid further financial strain.
- Inheriting Property: You’ve inherited a property and want a hassle-free way to convert it to cash.
- Landlord Issues: You’re a landlord tired of managing a rental property or dealing with a difficult tenant.
- Downsizing Needs: You’re downsizing or moving to a care facility and your family needs to sell your house quickly.
- Out-of-State Owner: You live out of state and want the convenience of a fast, all-cash sale.
If you recognize yourself in any of these scenarios, a cash offer from a We Buy Houses company might be worth considering. However, it’s essential to weigh all your options before deciding. We’ll explore the pros and cons of cash buyers next.
Pros and cons of house-buying companies in Homestead
House-buying companies offer a unique selling experience. Let’s weigh the pros and cons to help you decide if this route aligns with your needs.
Pros:
- Speed and Convenience: They offer fast cash closings, often within weeks, eliminating the lengthy traditional sales process. You can sell your house “as-is” saving time and money on repairs or upgrades.
- Fast Cash Offer: Receive a quick all-cash offer, allowing you to access your home’s equity swiftly. This can be ideal for urgent situations or those needing to close quickly.
- No Repairs Necessary: Skip the hassle and expense of repairs. They’ll buy your house in its current condition, eliminating the need to make improvements before selling.
- No Showings or Negotiations: Avoid the stress of open houses, multiple showings, and back-and-forth negotiations. They present a straightforward offer, taking the pressure off the selling process.
Cons:
- Below Market Value: House-buying companies typically offer below market value for your property. They factor in the cost and time of repairs and a profit margin, resulting in a lower offer compared to a traditional sale.
- Limited Offers: You’ll typically receive just one offer, unlike the multiple offers you might get through a traditional sale with an agent. This limits your negotiating power and potentially reduces your final selling price.
- Potential for Scams: Be wary of disreputable companies using unfair tactics or misleading information. Research the company’s reputation and get everything in writing before moving forward.
- No Contingencies: Cash sales often come without contingencies meaning the sale must close even if unforeseen issues arise. A traditional sale might allow for contingencies, providing some flexibility in the process.
Understanding these pros and cons is crucial before deciding. In the next section, we’ll discuss how to vet cash buyers and determine your home’s fair market value to ensure you make an informed decision.
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.
Vet cash buyers and know your home’s worth
While We Buy Houses companies offer a fast and convenient option, it’s important to remember that the quality of service can vary. The experience you have will depend on the specific company you choose.
Before committing to a cash offer, take some time to vet the company thoroughly. Research online reviews and testimonials, look into their presence and performance in the Homestead market, and be sure to read the buying agreement carefully before signing anything.
Knowing your home’s fair market value is also important. Research similar properties in your area that have recently sold to get a good idea of what your house might be worth on the traditional market. This will help you determine if a cash offer is genuinely competitive.
HomeLight suggests you consult with an experienced local agent to get a better idea of what your home might be worth if sold on the open market. Then, compare your cash offer. HomeLight can connect you with a top-performing agent in your market. You can also use HomeLight’s Home Value Estimator to get an initial ballpark estimate in less than two minutes.
Other options to sell your Homestead home quickly
Alternatives for a Speedy Sale:
- iBuyers: Tech-powered companies that use data for fast cash offers (often within days), ideal for speed but offers might be below market value.
- Listing with an Agent: Top agents can navigate a quick sale in hot markets, especially with a competitive listing price informed by a CMA. They might even connect you with cash buyers for closer-to-market value. Explore this option with HomeLight, which can connect you with a top local agent in your area today.
FAQs on Homestead house-buying companies
By and large, most We Buy Houses for Cash companies in Homestead are legitimate businesses. Their services and transaction fees may differ, but the business model has been around for decades. If you use an established group with a track record, you can be fairly confident that it’s legit.
That said, as with any financial transaction, it’s a good idea to be on the alert for scams. Always research companies before you sign a contract. Check customer reviews, look at their online presence, verify professional licenses, get a referral if possible, and vet the company on the Better Business Bureau website. Watch for anything that just doesn’t seem right.
As described in our pros and cons list above, most Homestead We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value, minus their estimated repair costs.
Here’s an example of what a simplified formula might look like:
(Your home’s ARV x .70) – repair costs
To see how this might work in a real-world scenario, let’s take a look at an example offer equation. Let’s say your Homestead bungalow could sell for $400,000 after repairs, but it’s going to need $30,000 of work to get there.
($400,000 x .70) – $30,000 = $250,000
In this example, a Homestead We Buy Houses company might offer you around $250,000 for your home.
However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more than We Buy Houses companies because iBuyers look for homes in better condition. An iBuyer might pay you 90% or more of market value while charging a fee for their services.
When you accept an offer from a Homestead We Buy Houses for Cash company, you will likely be coming to grips with a two-edged sword. On the one side, it shouldn’t cost you any additional money because these companies make an offer and handle almost everything once the offer is accepted. On the other side, you’ll likely get less money overall for your home.
Because We Buy Houses for Cash companies tend to focus on distressed homes, they typically have zero fees. Many will even cover your closing costs. In most cases, this means that the cash offer you receive is going to be the price you walk away with at the end of the deal. Of course, it’s always a good idea to flat-out ask the company if there are any hidden program fees that might impact your bottom line.
1. Research and vet the house-buying companies that serve your Homestead area. Our list above is a good place to start.
2. Submit offer requests to a few of the companies you like best.
3. Schedule any required on-site property visits.
4. Compare offers. Weigh the pros and cons and choose the best option for you.
5. Close the sale in a week to 30 days and get paid. (Some companies will let you choose a closing date up to 90 days after accepting the offer, which can be helpful when planning a move.)
We Buy Houses for Cash in Homestead vs. top Homestead agent
Another helpful exercise is to compare how a We Buy Houses for Cash company might stack up against working with a real estate agent. Let’s take a glance at how different aspects of the sale might look and compare possible proceeds.
| Aspect of the sale | Sell to a We Buy Houses for Cash company in Homestead | Sell with a top Realtor in Homestead |
| Selling timeline | 7 to 30 days | 102 days average; 56 to attract an offer, 46 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary repairs, landscape, stage home |
| Showings | None | 10 to 25 showings average |
| Inspections / repairs | None | May need to make additional repairs for the buyer or renegotiate the price |
| Appraisal | None | May need to lower your asking price if the 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 buyer’s loan doesn’t clear |
| Agent commission | None | 5.8% average |
| Closing costs | None | 1% to 3% of the home sale price on top of agent commission |
Example net proceeds
Below, we’ve put together one example of how net proceeds may differ between selling a home to a We Buy Houses for Cash company and an agent-assisted sale.
Let’s say your home in Homestead is currently worth about $400,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $425,000.
| Sell to a We Buy Houses for Cash company in Homestead | Sell with a top Realtor in Homestead | |
| Estimated sale price | ($425,000 x .70) – $25,000 = $272,500 | $400,000 |
| Market preparations | 0 | $4,000 (1% of sale price) |
| Agent commissions | 0 | $23,200 (5.8% of sale price) |
| Closing costs | 0 | $6,000 (1.5%) |
| Estimated take-home for seller | $272,500 | $366,800 |
As this example illustrates, financially, it’s usually in your best interest to partner with an experienced real estate agent.
However, net proceeds are not the only consideration when selling a home. What’s best in your situation will depend on the condition of your property, what level of repairs are needed, and your selling objectives. It could be that selling on the open market will be a challenge in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
Selling your house quickly in Homestead can be achieved through various options, each with its own advantages and drawbacks. Consider these key takeaways before making a decision:
- Speed and Convenience: We Buy Houses companies offer the fastest cash closings, but at a potential cost of a lower selling price compared to the traditional market.
- Know Your Options: Explore alternatives like iBuyers for fast cash offers, or consider listing with a top agent for a potentially higher selling price and expert guidance.
- Value Comparison: Selling on the traditional market often yields the highest return, especially with a skilled agent who can help you achieve a competitive listing price.
- Seek Expert Advice: A top Homestead real estate agent can provide valuable insights into your home’s market value and estimated selling timeframe in the current market conditions.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
At HomeLight, we’re happy to lend a guiding hand in navigating your real estate journey. Let us help you make an informed and confident decision, whether you’re looking for a no-obligation cash offer through a trusted platform like Simple Sale or seeking to consult with a top Homestead agent.
Header Image Source: (paulbr75/ Pixabay)
