5 Top We Buy Houses for Cash Companies in Little Rock
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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.
If you’re a homeowner in Little Rock looking to sell your home quickly, a “We Buy Houses” company might be the right choice.
A cash sale can significantly speed up the process, allowing sellers to quickly access their home’s equity and move on with their lives. Whether you’re facing an urgent need to sell due to unexpected circumstances or simply seeking a hassle-free transaction, opting for a cash-for-homes company could be the answer.
This post will dive into the pros and cons of working with house-buying companies in Little Rock, equipping you with the knowledge to make an informed decision about your home sale.
Sell Your Little Rock House Fast 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 Little Rock.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Little Rock area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Little Rock
Selling your home to a house-buying company can be quicker than the traditional market. Here’s what to expect in a few simple steps:
1. Research companies: Start by looking for reputable house-buying companies in Little Rock. Check their reviews and track record for peace of mind.
2. Submit your details: Reach out to your chosen company with information about your property. This usually involves filling out a form on their website or making a phone call.
3. Schedule an assessment: The company will likely want to assess your property. This step involves them visiting your home to evaluate its condition and value.
4. Receive an offer: The company will present you with a cash offer after the assessment. Remember, this offer is typically non-negotiable, so it’s a take-it-or-leave-it deal.
5. Accept the offer: You can accept it if it meets your expectations. This step will initiate the paperwork process.
6. Close the sale: The final step involves closing the sale. The company will handle most of the paperwork, and you can often receive your cash within days.
Popular We Buy Houses for Cash companies in Little Rock
If the process of selling to a house-buying company in Little Rock 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’ Victorian cottages or English revival style homes. By selling to one of these companies, you should be able to sell your Little Rock home in as little as a week or two.
Little Rock Property Buyers
Little Rock Property Buyers purchase houses in and around Little Rock and other areas. After providing property information, sellers receive a no-obligation cash offer within 24 hours. If the offer is accepted, the closing process can be completed in as little as seven days or on the seller’s schedule.
Locations: Throughout Arkansas, including Little Rock
Closing costs: Sellers pay no closing costs; Little Rock Property Buyers cover them.
Little Rock Property Buyers has a 4.8-star Google rating. A recent customer shared their positive experience, highlighting the company’s professionalism, expertise, and the team’s deep understanding of the local real estate market.
Website: propertybuyersar.com
Phone number: 501-381-7493
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Little Rock (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 Little Rock.
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 Little Rock
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
Gary Buys Houses
Gary Buys Houses AR offers a quick home-selling process, providing a cash offer in as little as 48 hours and allowing sellers to select their move-out date, purchasing homes in a variety of conditions.
Locations: Little Rock and nearby areas
Closing costs: Sellers pay no closing costs; Gary Buys Houses AR covers them.
Gary Buys Houses has earned a 4.9-star Google rating, with a recent customer expressing satisfaction with their fair pricing, reliable service, and successful renovation and sale of a property within the promised timeframe.
Website: garybuyshousesar.com
Phone number: 501-449-2897
Mid South Best Offers Little Rock
Mid South Best Offers offers a no-obligation evaluation and a flexible selling process that can usually extend a cash offer within 48 hours and close deals in 14 days, without any commission or fees, buying houses in any condition or situation.
Locations: Central Arkansas and surrounding cities, including Little Rock
Closing costs: Sellers pay no closing costs; Mid South Best Offers covers them.
Mid South Best Offers has achieved a 4.8-star Google rating, with customers appreciating their straightforward contracts, punctuality, and flexibility in closing.
Website: midsouthbestoffers.com
Phone number: 501-300-6955
Paranova Property Buyers
Paranova Property Buyers specializes in buying houses in Central Arkansas. Their process begins with gathering information to make the best cash offer, followed by a brief appointment to finalize details.
Locations: Central Arkansas and surrounding cities, including Little Rock
Closing costs: Sellers pay no closing costs; Paranova Property Buyers cover them.
Paranova Property Buyers holds a 4.8-star Google rating, where customers highlight Andrew’s commitment to honesty, responsibility, and transparency in deal explanations, which fosters long-term business relationships.
Website: paranovabuyers.com
Phone number: 501-314-8710
Why sell your Little Rock house for cash?
There are plenty of valid reasons a Little Rock home seller may choose to work with a Cash-For-Homes company. Speed, certainty, and remarkable convenience are the primary benefits.
In Little Rock, it typically takes around 97 days to sell a home on the market using an agent. That includes an average of 50 days on the market, plus the typical 47 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 Little Rock, 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.
Choosing to sell your home for cash to a house-buying company could be the right move, depending on your situation. Here are some of the most common use cases:
- Job relocation: Rapidly relocating for a job doesn’t have to be a logistical nightmare. A cash sale can simplify your move.
- Divorce: A quick, cash sale can streamline the division of assets during a divorce, reducing stress during a difficult time.
- Inherited: Handling an inherited property can be complex and emotional. Selling for cash offers a straightforward way to manage the estate.
- Downsizing: Ready to move to a smaller space or a retirement community? A cash sale is fast and hassle-free.
- Repairs: If your home requires significant repairs, selling it as-is for cash can save you from the burden of costly renovations.
- Open houses: Skip the inconvenience of open houses and the endless stream of strangers walking through your home.
- Foundation issues: Major issues like foundation damage can deter traditional buyers but are less of a concern for cash buyers.
- Foreclosure: Facing foreclosure? A cash sale can provide a way out, allowing you to settle debts and move on.
- Tenants: Selling a property with tenants can be tricky. Cash sales offer a simpler solution for landlords.
- Selling from out of state: Managing a property sale from another state is daunting. A cash offer can make the process straightforward and quick.
Pros and cons of house-buying companies in Little Rock
When considering selling your home in Little Rock to a house-buying company, it’s crucial to weigh the advantages against the drawbacks. Here are some of the primary ones.
Pros:
- Speed of sale: House-buying companies in Little Rock can often close on a property within days, offering a rapid solution for sellers needing to move quickly.
- No repairs needed: Sellers can avoid the cost and time involved in fixing up their property, as these companies buy homes as-is.
- Simplified process: The sale involves fewer contingencies, making the transaction smoother and more predictable than traditional sales.
- Cash offers: Sellers receive a straightforward cash offer, eliminating the worry of buyer financing falling through.
Cons:
- Below market value: Offers from house-buying companies are typically below market value, which means sellers may receive less than selling through the open market.
- Limited negotiation: The price offered is usually non-negotiable, leaving little room for sellers to counteroffer.
- Risk of scams: Sellers must be vigilant as the industry can attract scams, necessitating thorough research into the company’s credibility.
- Missed market premium: Sellers may miss out on potential bidding wars or higher offers from listing on the open market, especially in high-demand areas.
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
When you decide to work with a “We Buy Houses for Cash” company in Little Rock, it’s important to remember that the integrity and level of service you’ll experience can significantly vary. Before committing to any cash offer, take the time to vet the company thoroughly. Look for reviews online, read through testimonials from previous sellers, and research the company’s market presence and performance to ensure they are reputable and trustworthy.
Additionally, understanding the true worth of your home is vital. Don’t rush into signing the buying agreement without fully comprehending its terms. Make sure you read the agreement carefully.
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 Little Rock home quickly
iBuyers: Instant buyers, known as iBuyers, use automated valuation models (AVMs) to make all-cash offers on homes. This technology-driven approach allows for a fast, efficient sale process, usually completing from offer to closing in just a few days to two weeks. iBuyers like Opendoor and Offerpad are ideal for homes in good condition, offering prices closer to market value minus service fees of 5%-6%.
Listing with an agent: While selling through a real estate agent may seem slower, it can result in a fast sale at a higher price, particularly in seller-friendly markets. Agents can enhance the sale through strategic pricing and marketing, potentially offering the highest price.
They also provide valuable market insights with a comparative market analysis (CMA), which is often free and helps set an appropriate listing price. A top agent may also connect you with cash buyers, ensuring you explore all avenues before deciding. For those considering this route, HomeLight can connect you with a top-performing agent in your area.
FAQs on Little Rock house-buying companies
By and large, most We Buy Houses for Cash companies in Little Rock 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 Little Rock 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 Little Rock English revival could sell for $205,500 after repairs, but it’s going to need $20,000 of work to get there.
($205,500 x .70) – $20,000 = $123,850
In this example, a Little Rock We Buy Houses company might offer you around $123,850 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 Little Rock 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 Little Rock 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 Little Rock vs. top Little Rock 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 Little Rock | Sell with a top Realtor in Little Rock |
| Selling timeline | 7 to 30 days | 97 days average; 50 to attract an offer, 47 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 Little Rock is currently worth about $200,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $225,000.
| Sell to a We Buy Houses for Cash company in Little Rock | Sell with a top Realtor in Little Rock | |
| Estimated sale price | ($225,000 x .70) – $25,000 = $132,500 | $200,000 |
| Market preparations | 0 | $2,000 (1% of sale price) |
| Agent commissions | 0 | $11,600 (5.8% of sale price) |
| Closing costs | 0 | $3,000 (1.5%) |
| Estimated take-home for seller | $132,500 | $183,400 |
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
- Speed and convenience: Selling to a house-buying company in Little Rock offers a quick and straightforward sale process.
- As-is sale: You can sell your home in its current condition, avoiding the need for costly repairs or renovations.
- No negotiations: The offer you receive is typically non-negotiable, providing a clear, straightforward decision-making process.
- Below market value: Be prepared that the offer might be below what you could potentially receive on the open market.
- Vet the buyer: It’s crucial to research and vet any house-buying company to avoid scams and ensure a fair deal.
- 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 Little Rock agent.
Header Image Source: (paulbr75/ Pixabay)
