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Navigating the Lakewood real estate market can be challenging, especially when you need a quick sale. We Buy Houses companies in Lakewood offer an enticing solution, providing all-cash offers for homes that often require work.
If you’re a homeowner without the time, expertise, or financial means for repairs, a cash sale might be your ideal route. These companies cater to those needing to quickly proceed with their life plans, offering a streamlined process that bypasses the usual home-selling hurdles.
While selling to a cash-for-homes company in Lakewood can be a lifeline in urgent situations, it’s crucial to understand both sides of the coin. This guide will help you weigh the pros and cons, ensuring you make an informed decision that suits your needs.
Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of Lakewood area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Lakewood
When considering a quick sale of your Lakewood home, working with a house-buying company can be a straightforward option. Here’s a simple guide to the process:
- Initial Contact: Reach out to the company with your home details. They typically require basic information about your property to begin the evaluation process.
- Home Assessment: The company will assess your home to estimate its value. This step may include a quick, informal inspection.
- Receive Offer: Based on the company’s assessment, you’ll receive a cash offer. This offer is usually non-negotiable and presented as a take-it-or-leave-it deal.
- Acceptance: If you agree to the offer, you’ll proceed to accept the terms. This is usually a straightforward agreement.
- Closing Process: The company will handle most closing formalities. Closing can happen quickly, sometimes within days.
- Receive Payment: Once everything is finalized, you’ll receive the cash payment for your home, completing the sale process.
Popular We Buy Houses for Cash companies in Lakewood
If the process of selling to a house-buying company in Lakewood sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some top companies that will pay cash for you or your parents’ ranch-style or split-level home. By selling to one of these companies, you should be able to sell your Lakewood home in as little as a week or two.
New Again Houses
Founded in Denver several years ago, this company aims to purchase your home in as little as seven days or a timeline that suits the homeowner’s needs. There are no contingencies, bank delays, or need for extensive cleanup or agent fees.
Locations: Denver and surrounding areas, including Lakewood
Closing costs: Sellers pay no closing costs; New Again Houses covers them.
New Again Houses has been BBB accredited since 2018 and holds an A+ rating. Clients consistently praise New Again Houses for their prompt responses, honesty, and professionalism. The company has a 5.0-star Google review rating.
Phone number: 720-505-3968
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Lakewood (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 in different locations throughout Lakewood, even those that need some or a lot of work.
With Simple Sale, you can get a no-obligation, all-cash offer in as little as a week and sell your home in as few as 10 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including Lakewood
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 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
Peak Real Estate Solutions
Peak Real Estate Solutions, serves homeowners in Washington and Colorado. Their unique selling point is cash purchases, enabling them to close deals in around five days. They aim to provide solutions for diverse situations, from inherited homes to divorces or landlord challenges.
Locations: Washington, Colorado, and surrounding areas, including Lakewood
Closing costs: Sellers pay no closing costs; Peak Real Estate Solutions covers them.
Peak Real Estate Solutions has been BBB accredited since 2018 and holds an A+ rating. Clients praise the company’s commitment to promises and straightforward dealings. Clients describe their experience with the company as “nothing short of amazing.”
Phone number: 425-440-2323
Colorado Cash For Keys
Colorado Cash For Keys, based in Fort Collins, is a real estate solutions company serving Colorado. They specialize in assisting homeowners facing foreclosure, property-related burdens, or the need to sell quickly.
Locations: Colorado and surrounding areas, including Lakewood
Closing costs: Sellers pay no closing costs; Colorado Cash For Keys covers them.
Clients commend the company for keeping its word and simplifying the process of selling properties, even from afar. Reviewers value the company’s personalized approach and ethical standards. The company has a 4.9-star Google review rating.
Phone number: 970-692-9446
BiggerEquity provides homeowners with customized solutions for their property-related challenges. They specialize in quick transactions, often closing deals in just seven days due to their cash-based approach.
Locations: Nationwide, including Lakewood
Closing costs: Sellers pay no closing costs; Bigger Equity covers them.
Bigger Equity has been BBB accredited since 2018 and holds an A+ grade rating. Reviewers described their first-time selling experience as smooth and appreciated the company’s ability to deliver within the specified timeframe. The company has a 4.8-star Google review rating.
Phone number: 866-333-8377
Why sell your Lakewood house for cash?
There are plenty of valid reasons a Lakewood home seller may choose to work with a Cash-For-Homes company. The primary benefits are speed, certainty, and remarkable convenience.
In Lakewood, selling a home on the market typically takes around 73 days using an agent. That includes an average of 28 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 Lakewood, 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.
Homeowners in Lakewood choose to sell their houses for cash for various reasons. Here are some common scenarios:
- Urgent financial needs: You might need quick cash for emergencies like medical bills or debt.
- Relocation: A fast cash sale can be convenient if you move for a job or personal reasons.
- Property condition: Selling a house that requires significant repairs is more manageable through a cash sale.
- Avoiding foreclosure: To prevent foreclosure, a quick cash sale can offer a way out.
- Inheritance: Handling an inherited property can be simpler with a direct cash sale.
- Landlord issues: If you’re tired of being a landlord, selling for cash offers a quick resolution.
- Divorce: Selling to a We Buy Houses company can be an ideal solution when dealing with a divorce.
- Downsizing: For seniors needing to downsize quickly, selling their homes for cash is a practical option.
Pros and cons of house-buying companies in Lakewood
Selling your house in Lakewood to a cash-for-homes company offers several distinct advantages and disadvantages.
- Quick Sale: Cash buyers can close the deal quickly, ideal for urgent sales.
- As-Is Purchase: These companies buy homes in any condition, saving you repair costs.
- No Realtor Fees: Selling to a cash buyer eliminates realtor commission fees.
- Stress-Free Process: This option avoids the hassles of traditional home selling.
- Lower Offers: Expect offers below market value compared to traditional sales.
- Limited Negotiation: Most cash offers are final, with little room for negotiation.
- Fewer Options: You might miss out on better offers on the open market.
- Potential Scams: Always research companies thoroughly to avoid fraudulent schemes.
Understanding these points will help you decide if a cash offer is right for you. Let’s now explore how to vet cash buyers and understand your home’s worth.
Vet cash buyers and know your home’s worth
When considering selling your Lakewood home to a We Buy Houses company, it’s crucial to do your due diligence. Research the company’s reputation, check reviews and testimonials, and understand its market presence.
Also, carefully read the buying agreement before signing. Remember, these companies’ integrity and service levels can vary, and it’s essential to know who you’re dealing with to ensure a fair and transparent transaction.
HomeLight suggests you consult with an experienced local agent to understand better 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 for an initial ballpark estimate in less than two minutes.
Other options to sell your Lakewood home quickly
Besides house-buying companies, Lakewood homeowners have other rapid sale options. iBuyers, like Opendoor and Offerpad, offer a mostly online, efficient selling experience, often closer to market value, and charge service fees of 5%-6%. They’re suitable for homes in good condition.
Alternatively, listing with a top real estate agent can yield higher selling prices, especially in seller-friendly markets. Agents provide valuable insights through often free Comparative Market Analyses (CMAs), helping set competitive prices for quicker sales. HomeLight can connect you with a top agent in Lakewood if this seems like an option you’d like to pursue.
FAQs on Lakewood house-buying companies
By and large, most We Buy Houses for Cash companies in Lakewood are legitimate businesses. Their services and transaction fees may differ, but the business model has existed for decades. If you use an established group with a track record, you can be fairly confident it’s legit.
As with any financial transaction, being alert for scams is a good idea. 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 Lakewood 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 look at an example offer equation. Let’s say your Lakewood ranch-style home could sell for $600,000 after repairs, but it will need $30,000 of work to get there.
($600,000 x .70) – $30,000 = $390,000
In this example, a Lakewood We Buy Houses company might offer you around $390,000 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 Lakewood 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 it is accepted. Conversely, 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 will be the price you walk away with at the end of the deal. Of course, asking the company if hidden program fees might impact your bottom line is always a good idea.
We Buy Houses for Cash in Lakewood vs. top Lakewood 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 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 Lakewood||Sell with a top Realtor in Lakewood|
|Selling timeline||7 to 30 days||73 days average; 28 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 Lakewood is currently worth about $600,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $625,000.
|Sell to a We Buy Houses for Cash company in Lakewood||Sell with a top Realtor in Lakewood|
|Estimated sale price||($625,000 x .70) – $25,000 = $412,500||$600,000|
|Market preparations||0||$6,000 (1% of sale price)|
|Agent commissions||0||$34,800 (5.8% of sale price)|
|Closing costs||0||$9,000 (1.5%)|
|Estimated take-home for seller||$412,500||$550,200|
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 challenging in your area, or the agent timeline might not fit your immediate needs.
It’s best to consider every option before selling your property. There are several routes you can take, and it’s good to consider all of the factors we’ve discussed, considering the pros and cons of each:
- Fast Process: Cash-for-homes sales are quick and straightforward.
- No Repairs Needed: Sell your home as-is without renovations.
- Simple Transaction: Avoid complex traditional sale processes.
- Lower Offers: Expect less than market value.
- Research is Key: Thoroughly vet house-buying companies.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
- Compare Options: Explore all selling methods for the best outcome.
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 Lakewood agent.
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