6 Top We Buy Houses for Cash Companies in Colorado Springs
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Valerie Kalfrin, Contributing AuthorCloseValerie Kalfrin Contributing Author
Valerie Kalfrin is a multiple award-winning journalist, film and fiction fan, and creative storyteller with a knack for detailed, engaging stories.
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Richard Haddad, Executive EditorCloseRichard Haddad Executive Editor
Richard Haddad is the executive editor of HomeLight.com. He works with an experienced content team that oversees the company’s blog featuring in-depth articles about the home buying and selling process, homeownership news, home care and design tips, and related real estate trends. Previously, he served as an editor and content producer for World Company, Gannett, and Western News & Info, where he also served as news director and director of internet operations.
We Buy Houses companies in Colorado Springs, Colorado, 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.
Perhaps you have a new job offer out of state and don’t want the stress of leaving a mortgage behind. Maybe you’ve inherited property that’s not in the best shape, and a quick sale is the simplest way to settle the debts of an estate. Or perhaps other life circumstances such as an illness, divorce, or downsizing have left you in a bind, and a quick home sale would give you peace of mind, extra money, and a fresh start.
If you need to sell your Colorado Springs home quickly, a top We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much a Colorado Springs house-buying company might offer for your home and then consider your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.
Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of Colorado Springs “We Buy Houses” companies should not be considered endorsements.
Working with house-buying companies in Colorado Springs
We Buy Houses companies in Colorado Springs typically promise to give home sellers quick, convenient all-cash offers, and exceptionally speedy closings, often wrapping up the property sale in as few as seven days. These house-buying companies have polished their processes to help sellers who need to move ASAP, and tend to target distressed homes in need of repairs.
Here’s how the process generally works:
- You request an all-cash offer. The company will ask you to provide information about your house and property. Some We Buy Houses groups will make a preliminary offer shortly after you submit the request. However, the initial offer typically is subject to change after they have inspected your home.
- The company performs a walk-through. This on-site property visit typically is completed within 24 to 48 hours. The timeframe may vary depending on the company and market.
- You receive a firm offer. Your official cash offer typically is received within 24 hours of the on-site visit, but can sometimes be presented at the end of the walk-through. At this point, you can accept or decline the offer. The majority of house-buying companies do not negotiate. They usually present a take-it-or-leave-it sale price.
- If you accept the offer, you’ll both sign a sales contract. With a signed sales agreement, the closing process will begin. Some house-buying companies initially will provide a large deposit or funds to assist the seller with moving costs. Others will pay for the property upfront.
- Close the sale and get paid quickly. We Buy Houses companies typically can close your home sale 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.
Note: Individual program details frequently change. Please visit a company’s website for the most up-to-date information on each program’s fees, market coverage, business model, and more. HomeLight always recommends doing your own research to determine which selling option is best for your situation.
Popular We Buy Houses for Cash companies in Colorado Springs
If these benefits of selling to a house-buying company in Colorado Springs sound 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 Colonial or Victorian home in the northern part of Colorado Springs or your Craftsman-style bungalow downtown. By selling to one of these companies, you should be able to sell your Colorado Springs home in as little as a week or two.
We Buy Houses, Colorado Springs
More than 1 million homeowners nationwide have worked with We Buy Houses since the company launched about 25 years ago. We Buy Houses serves several Colorado communities, including Colorado Springs. It promises to make an offer within 24 to 48 hours and close in seven to 14 days.
We Buy Houses buys houses in all conditions and is familiar with handling problem tenants. The company cautions sellers to beware of imitators and illegitimate companies who advertise using a “We Buy Houses” name.
Locations: Colorado Springs, Denver, Breckenridge, New Castle, Steamboat Springs
Closing costs: Sellers pay no closing costs; We Buy Houses covers them.
We Buy Houses has been BBB accredited since 2020 and currently enjoys an A+ ranking. The Colorado Springs location has a 4.5-star rating on Google, and customer reviews for We Buy Houses speak to the speed of response and offers. They express satisfaction with the company’s professionalism and the value they received.
Website: webuyhouses.com/CO/Colorado_Springs
Phone: 719-722-2588
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Colorado Springs (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 US, 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 locations throughout Colorado Springs.
With Simple Sale, you can get an all-cash offer in as few as 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 Colorado Springs
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
Cash 4 Denver Homes
Although “Denver” is in its name, this locally-owned real estate company specializes in short sales and foreclosures in El Paso County and the surrounding area. Licensed real estate broker Ryan Coleman, who has more than 20 years of experience in the industry, founded the company in 2008.
Cash 4 Denver Homes makes a cash offer within 72 hours of meeting with the seller, and offers to close on the seller’s schedule. They buy houses in any condition and situation, or, as they put it: the good, the bad, and the ugly.
Locations: The entire Colorado Front Range, including Colorado Springs
Closing costs: Sellers pay no closing costs; Cash 4 Denver Homes covers them.
Cash 4 Denver Homes has an A+ rating with the Better Business Bureau but is not accredited. They have 5/5 stars on Yelp, where customers emphasize the staff’s professionalism and the speed of the transactions. They also say they appreciated the follow-up after the sale. Cash 4 Denver Homes currently does not have a presence on Google Maps.
Website: cash4denverhomes.com
Phone: 303-346-SOLD (7653)
We Buy Ugly Houses® Colorado (HomeVestors®)
We Buy Ugly Houses specializes in problem properties, such as homes in bad condition, homes in flood plains, homes in bad neighborhoods, and unattractive homes. Because of that, its offers may be lower than other cash buyers. The company has purchased more than 140,000 homes since it launched in 1996.
Sellers fill out a form online or call to schedule an appointment. Shortly after the walk-through, the company makes an offer. Closing can take place in as little as three weeks, but the company is flexible.
Locations: Nationwide, including Colorado Springs
Closing costs: Sellers pay no closing costs; We Buy Ugly Houses covers them.
We Buy Ugly Houses Colorado has been BBB accredited since 2011 and holds an A+ ranking. The company enjoys a rating of 5/5 stars from one review, where the reviewer emphasized the company’s honesty and ability to make a complicated, confusing situation better. The Colorado location has a 4.8-star rating on Google with more than 40 reviews.
Website: webuyuglyhouses.com/colorado-springs
Phone: 866-200-6475
The Buy-Out Company, Colorado Springs
The Buy-Out Company began in 2010, and since then, the company has spent $788 million on properties in Denver and the surrounding areas, including Colorado Springs. General partners Doug Perry and Bob Hothem have more than 80 years of combined experience buying and selling real estate.
The Buy-Out Company makes a cash offer within 24 hours of meeting with the seller, and offers closing within four business days, making them a fast way to close in Colorado Springs, although they’re flexible if the seller needs more time. They buy houses in any condition and situation, including homes with structural issues, owners going through financial crises, and estate sales.
Locations: The Front Range, including Colorado Springs
Closing costs: Sellers pay no closing costs; the Buy-Out Company covers them.
The Buy-Out Company has been BBB accredited since 2013 and currently enjoys a rating of 5 stars and an A+ ranking. Customer reviews for the Buy-Out Company speak to the speed and ease of transactions, as well as the staff’s professionalism. They express satisfaction with the offers they received from the Buy-Out Company. Google reviewers give the company 4.7 stars.
Website: thebuyoutcompany.com
Phone: 303-557-2266
Express Homebuyers, Colorado Springs
This national company serves several Colorado communities, including Colorado Springs, promising an offer within seven minutes and closing in as few as seven days. Since 2003, the company has worked with more than 4,000 homeowners.
Express Homebuyers buys houses in all conditions, including those with flood or fire damage and those in fire zones with no homeowners insurance. Because of the rapidity of their offer and closing, they’re also a good choice for homeowners facing foreclosure or other financial woes.
Locations: Nationwide, including Colorado Springs
Closing costs: Sellers pay no closing costs; Express Homebuyers covers them.
Express Homebuyers has been BBB accredited since 2004 and currently has a 4.17/5 stars and an A rating. Customer reviews for Express Homebuyers speak to the flexibility of closing, particularly when a tenant still occupies the property, as well as the fairness of offers. However, some national reviewers express dissatisfaction with what they believe is a lack of communication, and with the amount of marketing materials they receive. There is also an ongoing case about the company’s past marketplace conduct in Washington, D.C. The corporate headquarters has a 4.4-star rating on Google with more than 140 reviews.
Website: expresshomebuyers.com/colorado
Phone: 877-804-5252
Why sell your Colorado Springs house for cash?
There are plenty of valid reasons a Colorado Springs home seller may choose to work with a cash-for-homes company. Leading the list are the benefits of speed, certainty, and remarkable convenience.
In Colorado Springs, it typically takes about 87 days to sell a home on the market using an agent. That includes an average of 44 days listed on the market until a signed contract, plus the typical 43 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 Colorado Springs, 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.
These companies are becoming increasingly popular, especially among sellers who don’t have the time to spend weeks or months preparing, marketing, and closing on a traditional home sale. Let’s look at some of the most common reasons Colorado Springs sellers decide to use a We Buy Houses for Cash company over listing a property the traditional way.
- Job relocation: You need to move quickly for a new job and can’t wait for a traditional home sale.
- Divorce: You want to quickly divide assets and move on with your life.
- Inherited property: You’ve inherited a house and prefer a quick sale to dealing with maintenance or renting.
- Downsizing: You’re looking to move into a smaller home or retirement community without the hassle of prepping and showing your current home.
- Repairs needed: Your home requires significant repairs that you can’t afford or don’t want to manage.
- Avoiding open houses: You prefer to avoid the stress and inconvenience of multiple showings and open houses.
- Foundation issues: Your home has structural problems, making it less attractive to traditional buyers.
- Foreclosure: You’re facing foreclosure and need to sell quickly to settle your debts.
- Problem tenants: You’re a landlord tired of managing tenants and want a quick sale of your rental property.
- Selling from out of state: You own a property in Colorado Springs but live elsewhere and want the ease of a fast, remote sale.
If you are a homeowner facing any of these circumstances, requesting a cash offer from a top We Buy Houses for Cash company in Colorado Springs might be a good option to consider. However, it’s prudent to think of this as a starting point in your search for solutions. You won’t know if it’s your best move until you know more about other options available to you, which we’ll help you review in a minute.
Pros and cons of house-buying companies in Colorado Springs
By now, you’ve likely realized that We Buy Houses for Cash companies in Colorado Springs can evoke a variety of thoughts that may be challenging to navigate. You may like the idea of speed and convenience, but you might be having trouble balancing these with the premium you might pay for a cash-offer service.
In this next section, we’ll walk you through some of the pros and cons of using a We Buy Houses company so you can better consider your options.
Pros to We Buy Houses for Cash in Colorado Springs
One of the biggest advantages of working with We Buy Houses for Cash companies in Colorado Springs 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 typically can sell your house in as few as seven to 10 days.
- More certainty: With a pre-offer walk-through, a house-buying company can provide a firm cash offer that comes with few contingencies, or no contingencies at all. We Buy Houses companies have refined their transaction methods in such a way that they can clear away many traditional roadblocks so sellers can plan with more confidence.
- No repairs: If your home needs repairs you can’t afford, you can skip them altogether. Or, if you don’t have the desire or time to tackle repairs, a We Buy Houses company can be a fitting solution to sell a home in poor condition.
- Less hassle: You won’t need to worry about showings, open houses, fielding offers, negotiating, low appraisals, or the risk of the buyer’s financing falling through. When you work with a reputable We Buy Houses for Cash company in Colorado Springs, you’re likely going to experience a smooth journey 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 to We Buy Houses for Cash in Colorado Springs
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 consider:
- Lower-priced offers: Most companies follow the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value (ARV) — the value that your house could sell for on the market once it’s all fixed up — minus repair costs. This means the cash offer you receive may be markedly lower than what you could get for your home on the market.
- Inconsistent market knowledge: There can be a vast difference in a house-buying company’s knowledge of a market. One may have localized information, such as specific neighborhood data, which enables the company to leverage that knowledge into more competitive cash offers. A company without this expertise may give you a lowball offer.
- A company may be untrustworthy: As with any industry, there’s a risk of falling in with a less trustworthy company. Some cash-offer outfits deliberately make low offers to desperate homeowners and then pressure them into making a fast, unvetted decision. An unprincipled group may even engage in fraud tactics, though it’s rare.
- Pressure tactics: We Buy Houses for Cash companies know that homeowners in need of a quick sale are often facing a desperate situation. While many offer real solutions, some companies take advantage of this urgency by applying pressure tactics. If you feel pressured to accept an offer, step away and reassess your options. There are a good number of established We Buy Houses for Cash companies in Colorado Springs from which to choose.
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.
Vet cash buyers and know your home’s worth
For many home sellers, We Buy Houses for Cash companies are a solid way to sell property or access 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 say are 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 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 get for your home. HomeLight can connect you with a top-performing agent in your market.
You can also use HomeLight’s free Home Value Estimator right now to get an initial ballpark estimate in less than two minutes.
Other options to sell your home quickly
iBuyers
Within the cash-for-homes industry, 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 automated valuation models (AVMs), which use algorithmic technology to apply historic and current market data to their estimates. AVMs allow iBuyers to make a near-instant offer on your home and provide a user-friendly, mostly online home sale experience.
iBuyers provide all-cash offers for homes and can close a sale in a matter of days to a few weeks. However, unlike typical We Buy Houses for Cash companies, iBuyers generally seek out homes that are in better condition and usually provide cash offers that are closer to market value, typically in the 90% range.
When considering the iBuyer option, it’s important to note that major iBuyer companies like Opendoor and Offerpad typically charge sizable service fees that can range between 5% and 6%.
Sellers who may be a good fit to work with an iBuyer in Colorado Springs 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
It might be surprising to see this agent option included in our story about cash-for-homes businesses. Most homeowners seeking information about house-buying companies want to sell a home quickly, not in 87 days. But it’s wise to consider all your options.
If your home is in a housing market that’s seller-friendly, listing your property with a top real estate agent can result in a fast sale, especially if the house is strategically priced and superbly marketed.
Depending on the property and local market conditions, using an agent could pay off. Selling on the market typically yields the highest selling price, even more so if you partner with a proven professional. HomeLight’s internal real estate transaction data shows that the top 5% of agents sell homes for up to 10% more than average agents.
Another significant benefit of consulting with a trusted agent is the insight they can provide through a comparative market analysis (CMA). This is a market report that real estate agents provide to home sellers that acts as a tool to calculate the value of a home. The CMA evaluates a home’s size, features, location, age, and other details in relation to similar properties that have recently sold in the area. A CMA can help you determine an appropriate listing price, which can help estimate how quickly it might sell.
In addition, an experienced agent who knows your market may even connect you with buyers who will provide you with a cash offer that’s closer to your home’s market value.
Many agents will provide a free CMA, with no obligation to list your home with them. It can be a valuable tool to evaluate your options. If, in the end, you decide to sell to a house-buying company, you can proceed with more confidence, knowing you fully examined your options and made a sound financial decision.
If you are interested in exploring the agent option, HomeLight can connect you with a top-performing real estate agent in your area today.
Key takeaways
- We Buy Houses for Cash companies in Colorado Springs can make it possible to conveniently sell your home in as few as seven days with no repairs, open houses, or showings.
- There are a number of reputable cash-for-homes companies serving Colorado Springs.
- Using a We Buy Houses company could mean leaving a significant amount of money on the table compared to an agent-assisted or iBuyer sale.
- HomeLight’s Simple Sale platform provides no-obligation all-cash offers for homes in almost any condition in Colorado Springs. Because the platform has partner investors with different buying parameters across the region, it can be a great starting point if you aren’t sure who would buy your home.
FAQs on Colorado Springs house-buying companies
By and large, most We Buy Houses for Cash companies 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 legitimate.
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.
Most We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value (ARV), 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 Colorado Springs Colonial home could sell for $499,000 after repairs, but it’s going to need $30,000 of work to get there.
($499,000 x .70) – $30,000 = $319,300
In this example, a Colorado Springs We Buy Houses company might offer you about $319,300 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 We Buy Houses for Cash company, you’re balancing two key factors. On the plus side, there are usually no extra costs, as these companies manage most of the process after the offer is accepted. However, the downside is that you’ll probably receive less money for your home compared to a traditional sale.
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 ask the company if there are any hidden program fees that might affect your bottom line.
- Research and vet the house-buying companies that serve your area. Our list above is a good place to start.
- Submit offer requests to a few of the companies you like best.
- Schedule any required on-site property visits.
- Compare offers. Evaluate the pros and cons and choose the best option for you.
- 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 Colorado Springs vs. top Colorado Springs 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 Colorado Springs | Sell with a top Realtor® in Colorado Springs |
Selling timeline | 7 to 30 days | 87 days average; 44 to attract an offer, 43 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 | 3% to 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 Craftsman-style home in Colorado Springs is currently worth about $445,000 and needs about $25,000 in repairs. After repairs, the home might be worth about $470,000.
Sell to a We Buy Houses for Cash company in Colorado Springs | Sell with a top Realtor® in Colorado Springs | |
Estimated sale price | ($470,000 x .70) – $25,000 = $304,000 | $445,000 |
Market preparations | 0 | $4,450 (1% of sale price) |
Agent commissions | 0 | $13,350 (3% of sale price) |
Closing costs | 0 | $6,675 (1.5%) |
Estimated take-home for seller | $304,000 | $420,525 |
As this example illustrates, it’s usually in your best interest financially 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.
House-buying companies can be a good alternative for Colorado Springs sellers in need of a quick home sale, but it’s important to consider both the benefits and drawbacks. When it comes to selling your home, it’s wise to avoid making any hasty decisions.
Before making a commitment to a cash-for-homes company, gather multiple offers and take the time to weigh your options. Consider consulting with a top agent for expert insights on how soon, and for how much, your property might sell on the market. Whatever you decide, HomeLight would be happy to help with your real estate needs!
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