6 Top We Buy Houses for Cash Companies in Utah
- Published on
- 14 min read
-
Richard Haddad Managing EditorClose
Richard Haddad Managing EditorRichard Haddad is the managing 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.
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.
When unexpected or urgent situations arise, homeowners often consider ways to fast-track their sale process. “We Buy Houses” companies in Utah specialize in presenting all-cash offers, particularly for homes that might be showing their age or need a bit of TLC.
Selling to such companies means you can bypass the hassles of repairs and preparations, especially if you’re short on time, expertise, or funds. It’s a streamlined path to securing a home sale and moving on to your next life chapter with speed.
But is a Utah house-buying company right for you? In this post, we’ll provide an overview of the process and pros and cons of using a Cash-For-Homes company, helping you make an informed choice that aligns with your goals.
Need to Sell Your House Fast in Utah?
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 Utah.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Utah “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Utah
House-buying companies have streamlined their methods to ensure you can swiftly transition from your current home to the next chapter of your life. Here’s a simple breakdown of what you can expect the process to look like if you use a We Buy Houses company in Utah:
- Research potential companies: Start by identifying reputable house-buying companies in Utah. Look for reviews, testimonials, and any potential red flags.
- Request an offer: Reach out to your chosen company and provide information about your property. They’ll typically assess the details and conditions to present an all-cash offer.
- Home evaluation: Most companies will send a representative for a quick on-site inspection. This helps them confirm the home’s condition.
- Review the offer: Once you receive the all-cash offer, assess its fairness based on your home’s condition and your urgency to sell.
- Accept or decline the offer: Review the offer, and based on your circumstances, choose to accept or decline. Ensure you fully understand the terms and conditions.
- Close the deal: If you accept the offer, closing is typically fast, sometimes within a week. You’ll finalize the paperwork, receive your cash, and hand over the keys.
Popular We Buy Houses for Cash companies in Utah
If these benefits of selling to a house-buying company in Utah 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 Salt Lake City bungalow or your parents’ St. George prairie-style home. By selling to one of these companies, you should be able to sell your Utah home in as little as a week or two.
Gary Buys Houses
Gary Buys Houses is a local home-buying company that has been serving Utah residents and out-of-state homeowners since 2009. Upon accepting an offer, closing can occur in just two or three days or an additional five to seven business days if mortgages or liens are involved. If you’re not ready to move after the sale, you can stay in the house rent free while searching for your next home or choose the rent-back option if you need more time. The company also provides a cash advance of up to $10,000.
Locations: Throughout Utah, including Salt Lake City and its suburbs, as well as rural areas. Services are available in communities such as Logan, Ogden, Provo, and St. George. See the full list of locations on the company’s website.
Closing costs: Sellers pay no closing costs; Gary Buys Houses covers them.
Gary Buys Houses has been BBB accredited since 2016 and holds an A+ rating. Customer reviews for Gary Buys Houses speak to the company’s professionalism and responsiveness. They describe the selling process as easy, up-front, and personalized. One reviewer notes that everything was explained in detail to make sure “I was comfortable and understood each step of the process.” The company holds a 5-star rating on Google.
Website: garybuyshouses.com
Phone number: 801-382-9199
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Utah (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 Utah.
With Simple Sale, you can get an 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 Utah.
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 4.6 stars on Google based on more than 500 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
Joe Homebuyer (Utah Sell Now)
Founded in 2015, Joe Homebuyer provides solutions for homeowners facing foreclosure, divorce, or other challenging circumstances that require a quick cash sale. The company helps overcome obstacles such as moving logistics or transporting vehicles to facilitate the transaction. With an all-cash offer usually presented within 24 hours, closing can take place in only seven days or at the seller’s convenience.
Locations: Salt Lake City, Utah, and surrounding areas, including Layton, Ogden, Orem, Provo, Roy, Sandy, Tooele, West Jordan, and West Valley City.
Closing costs: Sellers pay no closing costs; Joe Homebuyer covers them.
Joe Homebuyer/Utah Sell Now has been BBB accredited since 2016 and holds an A+ rating. The company holds 4.7 stars on Google. Customer reviews on Google express that they received a fair offer. They describe a convenient, simple, and fast selling process navigated by professional and informative representatives.
Website: utahsellnow.com
Phone number: 385-503-7616
Fast Home Offer Utah
Fast Home Offer Utah was founded in 2014 by entrepreneur Jason Lewis, whose objective is to “empower individual homeowners by providing them the right advice at the right time.” This local house-buying company specializes in helping heirs handle the challenges of selling inherited properties and landlords looking to unload unwanted rentals. According to the firm’s website, they strive to respond with an offer within seven minutes. The company provides a flexible closing date with a quick close in just seven days when time is of the essence.
Locations: Throughout Utah, including Ogden, Salt Lake City, Layton, Brigham City, Roy, Sandy, and Provo. A complete list of locations is available on the company’s website.
Closing costs: Sellers pay no closing costs; Fast Home Offer Utah covers them.
Fast Home Offer Utah has been BBB accredited since 2018 and holds an A+ rating. Customers give the company 4.9 stars on Google. Reviews on Google speak to Fast Home Offer’s professionalism, transparency, patience, and great customer service. They express that the process of selling their home was quick, easy, painless, and stress-free. Customers commend the firm for dealing with challenging situations in a timely manner and with flexibility when relocating out of state.
Website: fasthomeofferutah.com
Phone number: 801-648-7942
Enlight Homebuyers
Based locally, Enlight Homebuyers has been purchasing houses quickly for cash since 2003. The company utilizes over 84 years of combined real estate experience to create solutions that meet the unique needs of Utah sellers. Enlight Homebuyers purchases properties in as fast as 48 hours and closes in as few as three days or on the seller’s time frame. The firm also provides an advance of up to $10,000 before closing.
Locations: The greater Salt Lake area, including Salt Lake, Utah, Davis, Cache, and Weber counties. The company buys houses in Utah communities such as Bountiful, Farmington, Layton, Lehi, and Logan. See the company’s website for the full list of locations.
Closing costs: Sellers pay no closing costs; Enlight Homebuyers covers them.
Enlight Homebuyers has been BBB accredited since 2013 and holds an A+ rating. They have a 3.9 rating on Google reviews. BBB customer reviews for Enlight Homebuyers describe the company’s representatives as very professional, helpful, and informative. Reviewers express that they received a fair price and that the transaction was completed without gimmicks or surprises. Reviews also include a few complaints from customers who received unsolicited mail and had difficulty getting removed from the mailing list.
Website: enlighthomebuyers.com
Phone number: 801-939-0123
Utah Close Fast Cash Home Buyers
Founded in 2013 by Utah native Eric Douros, this family-run house-buying company strives to help homeowners resolve real estate problems such as foreclosure, unoccupied rentals, and inherited properties. The company typically presents an offer within 24 hours of receiving information about the home. Closing takes place in just seven days or on a date chosen by the seller, sometimes on the very same day. Utah Close Fast Cash Home Buyers also offers moving services, cash advances, and assistance finding another residence.
Locations: Throughout all of Utah as well as Idaho, Nevada, Wyoming, Arizona, and Denver, Colorado. Utah locations include Salt Lake City, Taylorsville, Murray, Magna, Springville, and Riverton. View the entire list of locations on the company’s website.
Closing costs: Sellers pay no closing costs; Utah Close Fast Cash Home Buyers covers them.
Utah Close Fast Cash Home Buyers has been BBB accredited since 2019 and holds an A+ rating as well as 5 stars on Google. Customer reviews on Google for Utah Close Fast Cash Home Buyers speak to the company’s excellent customer service, professionalism, fairness, and responsiveness. They express that transactions were handled by experienced, knowledgeable, and trustworthy representatives.
Website: utahclosefast.com
Phone number: 801-755-3865
Why sell your Utah house for cash?
There are plenty of valid reasons a Utah 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 Utah, it typically takes around 82 days to sell a home on the market using an agent. That includes an average of 37 days on the market, plus the typical 45 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 Utah, and it’s clear why these We Buy Houses groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
Let’s explore some reasons you might lean toward choosing a Utah house-buying company:
- Urgent relocations: You’ve landed a new job or found a unique opportunity elsewhere, and you need to move quickly without the drawn-out process of a conventional home sale.
- Inherited properties: You’ve inherited a property in Utah, and wish to liquidate it swiftly without the hassle and time of a traditional sale.
- Aging property: Your house requires significant repairs that you’re either unwilling or unable to handle.
- Financial hardships: You’re facing mounting debts, looming foreclosure, or pressing medical bills, and need a rapid cash infusion.
- Privacy preferences: You cherish your privacy and want to bypass the public spectacle that comes with traditional property listings.
- Desire for a simple process: You’d like to bypass the stress of home preparations, multiple showings, and lengthy back-and-forth negotiations.
- Rental property headaches: You’re an exasperated landlord dealing with challenging tenants in Utah or simply tired of property management.
- Personal transitions: Major life shifts, like divorce or transitioning to assisted living, necessitate a quick, uncomplicated home sale.
- Out-of-state ownership: Living far from Utah, you seek the efficiency and ease of a cash sale to manage the property you own from a distance.
If any of these resonate with your situation, a We Buy Houses company in Utah might be a fitting solution. Yet, as with any major financial decision, it’s important to be well-informed about the pros and cons, and other options that might be available.
Pros and cons of house-buying companies in Utah
Choosing to work with a We Buy Houses company in Utah presents both advantages and potential downsides. Understanding these will enable you to make an informed decision that fits your selling situation. Here’s a closer look at both sides of the house-buying company coin.
Pros
Utah homeowners seeking speed and a hassle-free sales process might find solace in house-buying companies. Their ability to purchase your home regardless of its condition, eliminating the need for repairs or preparations, is a significant benefit. Here are the primary pros:
- Swift closings: House-buying companies can wrap up a sale in days or weeks, circumventing the months-long waiting periods of traditional real estate deals.
- No repairs needed: They’ll purchase your home as-is, sparing you the trouble and cost of any repairs or home staging.
- Eliminate fees and contingencies: Forego commissions, inspections, and financing contingencies that can complicate or elongate the selling process.
- Guaranteed sale: Once you accept the cash offer, the sale is almost always a done deal, eliminating uncertainties and fall-through risks.
Cons
This speedy solution has its costs. The most pronounced is the likelihood of a below-market-value offer for your property compared to listing with a seasoned real estate agent. Here are some vital considerations:
- Lower offers: House-buying companies aim for a profit, typically resulting in offers below the potential market value of your home.
- Little or no negotiation: Unlike traditional sales, there’s limited to no room for price negotiations with most cash-for-homes companies.
- Possible pressure tactics: While most Cash-For-Homes companies in Utah have earned trustworthy reputations, there are unscrupulous players who may apply pressure tactics to take advantage of your urgent situation.
- Potential for scams: There is a risk of falling victim to scammers or dishonest operators. Researching the company you select is vital.
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
Choosing to work with a We Buy Houses for Cash company in Utah can be a swift solution for your home-selling needs. However, just like in any industry, the level of integrity and service you’ll experience varies, often hinging on the character of the individual or group behind the offer.
Before diving headfirst into a cash offer, it’s paramount to vet your potential buyer meticulously. Dive into reviews, absorb testimonials, and investigate their track record in the Utah market. Equally crucial is a thorough review of the buying agreement. Every clause and term can impact your sale.
HomeLight suggests you consult with a top Utah 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 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 Utah home quickly
iBuyers
iBuyers, or instant buyers, combine the ease of traditional Cash-For-Home businesses with algorithmic technology to offer almost immediate home valuations and sales. Originating in the mid-2010s, iBuyers now cover all areas of Utah, delivering cash offers closer to market value, primarily for homes in good condition.
While companies like Opendoor and Offerpad can finalize sales quickly, they charge service fees between 5%-6%. Utah sellers with well-maintained properties might find iBuyers ideal.
Listing with an agent
Despite the urgency of a quick sale, sometimes using an agent can expedite the process. In favorable markets, a skilled agent can facilitate a swift transaction, often earning you higher proceeds. HomeLight data shows that the top 5% of Utah agents can achieve sales prices up to 10% higher than average agents.
These agents also offer a comparative market analysis (CMA) to help determine home values. This analysis, which is often free with a consultation, can guide your pricing decision and give you an idea of how quickly your home might sell.
A seasoned agent might also connect you with cash buyers offering closer to market value. Should you consider this route, HomeLight can link you with leading agents in your Utah city.
FAQs on Utah house-buying companies
By and large, most We Buy Houses for Cash companies in Utah 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.
How much will We Buy Houses for Cash companies in Utah pay?
As described in our pros and cons list above, most Utah 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 Utah rustic mountain modern home could sell for $475,000 after repairs, but it’s going to need $30,000 of work to get there.
($475,000 x .70) – $30,000 = $302,500
In this example, a Utah We Buy Houses company might offer you around $302,500 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 Utah 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.
- Research and vet the house-buying companies that serve your Utah community. 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. Weigh 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 Utah vs. top Utah 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 Utah | Sell with a top Realtor in Utah |
| Selling timeline | 7 to 30 days | 82 days average; 37 to attract an offer, 45 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 Utah is currently worth about $475,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $500,000.
| Sell to a We Buy Houses for Cash company in Utah | Sell with a top Realtor in Utah | |
| Estimated sale price | ($500,000 x .70) – $25,000 = $325,000 | $475,000 |
| Market preparations | 0 | $4,750 (1% of sale price) |
| Agent commissions | 0 | $27,550 (5.8% of sale price) |
| Closing costs | 0 | $7,125 (1.5%) |
| Estimated take-home for seller | $325,000 | $435,575 |
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
- Quick sales: Cash-For-Homes companies can accelerate the sale process, often closing within days or weeks.
- No repairs needed: These companies typically buy homes in any condition, eliminating the need for costly repairs or updates.
- Fixed offers: Most house-buying companies present a take-it-or-leave-it offer, with limited room for negotiations.
- Below market value: Offers from cash-offer businesses are typically lower than market value.
- Do your homework: Vet potential buyers by checking reviews, reading testimonials, and researching their market reputation.
- Know your home’s worth: Understand the true value of your home before accepting any offer, and consider alternative selling methods.
In conclusion, if you’re contemplating selling to a We Buy Houses company in Utah, it’s prudent to gather multiple offers and carefully consider your options before committing. It’s highly recommended to consult with a top Utah agent. Their expertise can provide insights on how soon and for how much your property might fetch on the market.
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 Utah agent.
Header Image Source: (sepavone/ Depositphotos)