We Buy Houses Midland: Top 5 Companies
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Joseph Gordon EditorJoseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
Selling your Midland home quickly can be challenging, especially if it needs extensive repairs.
We Buy Houses companies in Midland will make all-cash offers on homes, regardless of the condition, providing a solution for homeowners like you who need to sell fast. Whether you’re facing an unexpected situation or simply want to avoid the time and expense of repairs, a cash sale could be the answer.
This is particularly beneficial if you lack the time, expertise, or money for extensive repairs.
In this post, we’ll explore the pros and cons of working with house-buying companies in Midland. Additionally, we will explain how the process works and provide you with some alternatives to help you make the best decision for your home.
Sell Your House Fast in Midland 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 Midland.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Midland area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Midland
Working with house-buying companies in Midland is simple, but there are a few steps involved. Here’s a basic look at the process:
1. Contact the company: Reach out to a house-buying company in Midland through their website or phone to express your interest in selling your home.
2. Schedule a visit: Set up a time for the company to visit your property. They will assess its condition and gather the information needed to make an offer.
3. Receive an offer: After evaluating your home, the company will present you with an all-cash offer, typically within 24 to 48 hours.
4. Review the offer: Take the time to consider the offer. If the offer lines up with your expectations, accept it.
5. Sign the agreement: If you decide to proceed, sign the purchase agreement provided by the company.
6. Close the sale: Work with the company to finalize the sale. Closing can often occur in as little as seven days, allowing you to receive your cash and move on quickly.
Popular We Buy Houses for Cash companies in Midland
If the process of selling to a house-buying company in Midland 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 or your parents’ ranch-style home or row house. By selling to one of these companies, you can sell your Midland home in as little as a week or two.
MREhomebuyer
MREhomebuyer was founded in 2019 and specializes in the West Texas cities of Odessa, Midland, San Angelo, and Lubbock. MREhomebuyer will purchase the property, repair it, and then either sells the house or rent it.
Locations: Midland and Odessa, Texas
Closing costs: Sellers pay no closing costs; MREhomebuyer covers them.
MREhomebuyer is not listed with the Better Business Bureau (BBB). The company has a 4.0-star rating with 12 reviews on Google. Customer reviews for MREhombuyer speak to the company’s willingness to help sellers when problems arise.
Website: mrehomebuyer.com
Phone number: 432-400-5444
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Midland (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 Midland.
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 Midland, TX.
Closing costs: No prep costs, agent commissions, or 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
M1 Real Estate
M1 Real Estate is a family-owned business that focuses on helping homeowners. The company buys homes and fixes them to sell to another buyer or rent out. According to the BBB, it has been in business since 2019.
Location: Midland
Closing costs: Sellers pay no closing costs; M1 Real Estate covers them.
M1 Real Estate has an A+ rating with BBB but is not BBB-accredited. It has a 4.3-star rating on Google based on 11 reviews. Customer reviews for M1 speak to the professionalism with which M1 representatives treat home sellers. Reviewers say the company was transparent about its prices and lived up to its promises.
Website: m1homebuyer.com
Phone number: 432-269-6183
House Buyers Texas
House Buyers Texas will purchase any type of property across Texas. Once you accept their offer, you can close in as few as three days. They’ll buy homes in any condition, and you can choose your closing date.
Locations: Midland and surrounding areas in Austin, Dallas, Fort Worth, Houston, and San Antonio
Closing costs: You pay no closing costs; House Buyers Texas covers them.
House Buyers Texas has 41 Google reviews at the time of this publication and a 5-star rating, with customers raving about the company’s strong offers, knowledgeable and kind service, and quick closings. House Buyers Texas is BBB accredited with an A rating.
Website: housebuyerstexas.net
Phone: 281-504-7027
HouseCashin
HouseCashin is a platform for off-market properties. It helps connect sellers who need to sell quickly with investors who want to purchase houses in any condition and use them as real estate investments. They typically buy houses within three to thirty days for cash and don’t charge commissions or closing costs.
Locations: Nationwide with its main headquarters in Houston — purchasing throughout Texas, including Midland
Closing costs: Sellers pay no closing costs; HouseCashin covers them.
HouseCashin is not BBB accredited. Customer reviews for HouseCashin speak to its professionalism, honesty, and the fact that it meets deadlines and follows through. Customers are pleased with the friendly and informative staff and the easy sales process when working with HouseCashin.
Website: housecashin.com/tx/midland
Phone: 877-355-1244
Why sell your Midland house for cash?
Selling your Midland home for cash is easy, but it isn’t for everyone. Sellers will typically point to needing an extremely quick sale or wanting a seamless process, particularly when compared to selling on the traditional real estate market.
In Midland, it typically takes around 88 days to sell a home on the market using an agent. That includes an average of 46 days on the market plus the typical 42 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 Midland, 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.
Here are some common scenarios where selling to a house-buying company might be the right move for you:
- Job relocation: You need to move quickly for a new job and don’t have time for the traditional home-selling process.
- Divorce: You and your spouse are separating and need to liquidate the home to divide assets.
- Inherited property: You’ve inherited a house and want to sell it without the hassle of repairs or finding a buyer.
- Downsizing: You’re moving to a smaller home or retirement community and want to sell quickly.
- Repairs: Your house needs extensive repairs that you can’t afford or don’t want to manage.
- Open houses: You prefer not to deal with the inconvenience and privacy invasion of open houses and showings.
- Foundation issues: Your home has serious foundation problems that are expensive and time-consuming to fix.
- Foreclosure: You’re facing foreclosure and need to sell your home quickly to avoid damaging your credit.
- Tenants: You’re a landlord dealing with problem tenants and want to sell your rental property fast.
- Selling from out of state: You own property in Midland but live elsewhere, making it difficult to manage a traditional sale.
Pros and cons of house-buying companies in Midland
Pros
Selling your home for cash in Midland has plenty of upsides. Companies will purchase your home as-is without you needing to make repairs, and the transaction can often be completed in a matter of days. Here are some of the key benefits:
- Speed: You can close the sale in as little as a week, providing a fast solution to your housing needs.
- As-is condition: Sell your house without making any repairs or updates, saving you time and money.
- No contingencies: These companies typically don’t require contingencies, reducing the risk of the deal falling through.
- Simplified process: The process is straightforward and stress-free, with minimal paperwork and no need for showings or open houses.
Cons
While house-buying companies offer convenience, they often pay below market value compared to selling with a real estate agent. Here are some of the main downsides to consider:
- Lower offers: Expect to receive significantly less than what you might get on the open market.
- Limited negotiation: Offers from these companies are usually take-it-or-leave-it, leaving little room for negotiation.
- Risk of scams: There’s a risk of encountering scams or unscrupulous buyers, so it’s important to do your homework.
- Fees: Some companies may charge fees that reduce the overall amount you receive from the sale.
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
Before committing to a cash offer, it’s important to vet the company thoroughly. Here’s a checklist to ensure you’re working with a reputable buyer:
- Check reviews: Look for online reviews and testimonials to see what past clients say about their experiences.
- Research the company: Investigate the company’s presence and performance in the market. Ensure they have a solid reputation.
- Read testimonials: Pay attention to testimonials on the company’s website and other review platforms to gauge their credibility.
- Examine the buying agreement: Read the agreement carefully before signing. Ensure you understand all terms and conditions.
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 Midland home quickly
iBuyers
iBuyers, or instant buyers, use automated valuation models to provide near-instant cash offers, typically closer to market value. The iBuyer process is mostly online and can close within a few days to two weeks. Companies like Opendoor and Offerpad often charge service fees of 5%-6%. This option suits homes in good condition in homogeneous markets.
Listing with an agent
Although you’re looking for a quick sale, consider listing with a top agent. A comparative market analysis (CMA) provided by an agent can help you price your home strategically for a fast sale.
Many agents offer CMAs, often for free. Listing with an agent can yield a higher sale price, and HomeLight can connect you with top-performing agents in your area.
FAQs on Midland house-buying companies
By and large, most We Buy Houses for Cash companies in Midland 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 Midland 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 Midland ranch-style home could sell for $350,000 after repairs, but it will need $30,000 of work to get there.
($350,000 x .70) – $30,000 = $215,000
In this example, a Midland We Buy Houses company might offer you around $215,000 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 Midland We Buy Houses for Cash company, you will likely be coming to grips with a double-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 any hidden program fees might impact your bottom line is always a good idea.
1. Research and vet the house-buying companies that serve your Midland 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 Midland vs. top Midland 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 Midland | Sell with a top Realtor in Midland |
| Selling timeline | 7 to 30 days | 88 days average; 46 to attract an offer, 42 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 the 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 compiled 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 Midland is worth about $300,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $325,000.
| Sell to a We Buy Houses for Cash company in Midland | Sell with a top Realtor in Midland | |
| Estimated sale price | ($325,000 x .70) – $25,000 = $202,500 | $300,000 |
| Market preparations | 0 | $3,000 (1% of sale price) |
| Agent commissions | 0 | $17,400 (5.8% of sale price) |
| Closing costs | 0 | $4,500 (1.5%) |
| Estimated take-home for seller | $202,500 | $275,100 |
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
- Fast sale: House-buying companies in Midland offer a quick solution, often closing in as little as a week.
- As-is condition: These companies buy homes without requiring any repairs or preparations, saving you time and money.
- Convenience: The process is straightforward, with minimal paperwork and no need for showings or open houses.
- Lower offers: Expect to receive less than market value for your home compared to traditional sales methods.
- Risk of scams: It’s essential to vet companies thoroughly to avoid potential scams or unscrupulous buyers.
- Service fees: Some companies may charge fees that reduce the overall amount you receive from the sale.
- Know your home’s worth: Always know 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 Midland agent.
Header Image Source: (paulbr75/Pixabay)
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