5 Top We Buy Houses for Cash Companies in Oklahoma

Popular We Buy Houses for Cash companies in Oklahoma

If the process of selling to a house-buying company in Oklahoma 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 you or your parents’ Spanish Revival or Art Deco. By selling to one of these companies, you should be able to sell your Oklahoma home in as little as a week or two.

Why sell your Oklahoma house for cash?

There are plenty of valid reasons an Oklahoma home seller may choose to work with a Cash-For-Homes company. Convenience, a quick transaction, and sale certainty are some of the primary benefits of this process.

In Oklahoma, it typically takes around 95 days to sell a home on the market using an agent. That includes an average of 48 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  Oklahoma, 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.

Selling your Oklahoma house for cash can offer a streamlined alternative to traditional home-selling methods. Here are common scenarios where selling to a We Buy Houses for Cash company might be the right choice:

• Job relocation: When a new job requires you to move quickly, a cash sale can speed up the process, allowing for a smoother transition.
• Divorce: In the midst of a divorce, selling for cash can simplify the division of assets and expedite the process.
• Inherited property: Dealing with an inherited home can be complex; a cash sale is straightforward and fast.
• Downsizing: If you want to downsize, a cash sale can make the transition to a smaller home or retirement community easier.
• Significant repairs needed: Homes needing extensive repairs can be hard to sell through traditional channels; cash buyers often purchase homes “as-is.”
• Avoiding open houses: For those who prefer privacy, selling for cash eliminates the need for open houses and numerous showings.
• Foundation issues: Properties with foundation problems can be especially challenging to sell traditionally; cash sales can offer a viable alternative.
• Foreclosure looming: Facing foreclosure? A fast cash sale might help you settle debts and avoid credit damage.
• Problematic tenants: If you have difficult tenants, a cash sale can offer an easier way out.
• Selling from out of state: Managing a sale from afar is complex; cash sales can simplify the process.

Next, we’ll examine the pros and cons of house-buying companies, providing you with the insights needed to evaluate your options effectively.

Pros and cons of house-buying companies in Oklahoma

Choosing a house-buying company in Oklahoma can be a game-changer for sellers looking for a fast turnaround.

Here are some of the primary benefits:

Pros:

• Speed of sale: The most significant advantage is the rapid process, often closing within days, which is ideal for sellers needing to move quickly.
• No repairs needed: Your home is bought as-is, saving you the time and expense of making repairs or improvements before selling.
• Simplicity: The selling process is straightforward, with fewer contingencies and no need for open houses or staging.
• Guaranteed sale: Offers from these companies are usually solid, providing certainty in an otherwise uncertain market.

However, there are downsides. The biggest is that you will receive an offer below market value for your property, which can be significantly less than what you might achieve on the open market with the help of an experienced real estate agent.

Cons:

• Lower offers: Expect offers below market value. These companies are focused on making a profit in exchange for a fast sale.
• Limited negotiation: The price is typically non-negotiable, offering less flexibility than traditional sales.
• Potential for scams: While many companies are reputable, there’s a risk of scams, necessitating thorough research and caution.
• Less market exposure: Selling directly to a cash buyer means missing out on potentially higher offers from the open market.

Next, we’ll guide you on how to vet cash buyers and better understand your home’s worth.

Vet cash buyers and know your home’s worth

When you decide to sell your home to a We Buy Houses for Cash company, remember that your experience can greatly differ based on the integrity and service level of the buyer.

Before you commit, it’s essential to vet the company thoroughly. Check out reviews, seek testimonials, and research its market presence and performance to gauge reliability and trustworthiness.

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 for an initial ballpark estimate in less than two minutes.

Other options to sell your Oklahoma home quickly

If you want to sell your home quickly, but aren’t convinced a We Buy Houses company is the way to go, don’t worry. There are other options, such as iBuyers or listing with an experienced real estate agent. Here’s a quick rundown of both:

iBuyers: These instant buyers use automated valuation models to offer a fast, mostly online selling experience, typically providing offers closer to market value for homes in better condition. The iBuyer process is quick, but be aware of their service fees, which can range from 5%-6%.

Listing with an agent: While selling through traditional means may seem slower, partnering with a top real estate agent can lead to a swift sale, especially in a seller-friendly market. Agents can help achieve the highest selling price, provide valuable insights through a comparative market analysis (often free), and connect you with cash buyers. For those considering this route, HomeLight can connect you with leading local agents to explore the best options for your situation.

FAQs on Oklahoma house-buying companies

Are We Buy Houses for Cash companies legit or scams?

By and large, most We Buy Houses for Cash companies in Oklahoma 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 Oklahoma pay?

As described in our pros and cons list above, most Oklahoma 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

Let’s look at an example offer equation to see how this might work in a real-world scenario. Let’s say your Oklahoma Spanish Revival could sell for $240,000 after repairs, but it will need $30,000 of work to get there.

($240,000 x .70) – $30,000 = $138,000

In this example, an Oklahoma We Buy Houses company might offer you around $138,000 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.

How much does selling a home to a We Buy Houses for Cash company in Oklahoma cost?

When you accept an offer from an Oklahoma We Buy Houses for Cash company, you will likely come 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 the offer 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, it’s always a good idea to flat-out ask the company if any hidden program fees might impact your bottom line.

How do you sell a house for cash in Oklahoma?

1. Research and vet the house-buying companies that serve your Oklahoma 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 Oklahoma vs. top Oklahoma agent

Another helpful exercise compares 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 Oklahoma	Sell with a top Realtor in Oklahoma
Selling timeline	7 to 30 days	95 days average; 48 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 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 Oklahoma is currently worth about $250,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $275,000.

	Sell to a We Buy Houses for Cash company in Oklahoma	Sell with a top Realtor in Oklahoma
Estimated sale price	($275,000 x .70) – $25,000 = $167,500	$250,000
Market preparations	0	$2,500 (1% of sale price)
Agent commissions	0	$14,500 (5.8% of sale price)
Closing costs	0	$3,750 (1.5%)
Estimated take-home for seller	$167,500	$229,250

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

As you consider selling your home for cash, it’s important to keep in mind the pros and cons of this approach:

• Speed and convenience: The primary benefit of selling to a Cash-For-Homes company in Oklahoma is the rapid and hassle-free sale process.
• As-is purchase: These companies buy homes in any condition, removing the need for repairs or renovations.
• Below market offers: Be prepared for offers that may be below the market value of your home.
• Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
• Research is crucial: Thoroughly vet any house-buying company and understand the value of your home before agreeing to a sale.
• Explore all options: Considering alternatives like iBuyers or listing with an agent can provide different benefits and potentially higher offers.

Before committing to a Cash-For-Homes company, gather multiple offers and take the time to weigh your options. Consider consulting with a top Oklahoma 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!

Header Image Source: (Matt Stone / Unsplash)