We Buy Houses Ontario: 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.
If you need to sell your home quickly in Ontario, working with a We Buy Houses company may be a good option. These companies make all-cash offers for homes, even those needing repairs, allowing you to skip the time and expense of fixing up the property.
A cash sale can be a practical solution if you’re short on time, resources, or expertise. Whether you’re dealing with an unexpected move, a financial issue, or an inherited property, selling for cash allows you to access the proceeds quickly and move forward.
In this post, we’ll walk through the pros and cons of selling to a cash buyer in Ontario so you can decide if this option is right for your situation.
Sell Your House Fast in Ontario With a Cash Offer
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Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Ontario area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Ontario
Working with a house-buying company in Ontario can simplify selling your home quickly, especially if you’re dealing with a property that needs repairs or an urgent move. Below are the basic steps you’ll take when selling your home to one of these companies.
- Contact the company: Reach out to a We Buy Houses company in Ontario, either by phone or online, to provide basic details about your property.
- Schedule a home visit: A representative will visit your home to assess its condition and gather the information they need to make an offer.
- Receive an offer: After reviewing your home, the company will present a no-obligation, all-cash offer for your property.
- Review and accept the offer: If you agree with the offer, you’ll sign the necessary paperwork to accept it and move forward.
- Complete inspections: Some companies may require a final inspection to ensure there are no undisclosed issues with the property.
- Close and receive payment: Once everything is in order, you’ll close on the sale, usually within days, and receive the cash payment for your home.
Popular We Buy Houses for Cash companies in Ontario
If the process of selling to a house-buying company in Ontario 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 craftsman bungalow. By selling to one of these companies, you should be able to sell your Ontario home in as little as a week or two.
Diamond Home Buyers Inc.
Diamond Home Buyers Inc. can assist homeowners in various situations—such as those facing financial difficulties, dealing with inherited properties, or looking to relocate, purchasing their property for cash, often in a matter of days.
Locations: Ontario, Chino Hills, Glendora, Cucamonga, Upland, and surrounding areas.
Closing costs: Sellers pay no closing costs; Diamond Home Buyers covers them entirely.
Diamond Home Buyers Inc. holds a 5-star rating on Google and has been BBB accredited since 2020 with A+ rating.
Website: diamondhomebuyersinc.com
Phone number: 909-200-6606
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Ontario (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 Ontario.
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 Ontario
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
The California Homebuyer
The California Homebuyer is a dedicated home buying company that aims to simplify the selling process for homeowners throughout California..
Locations: Across California, including Ontario.
Closing costs: Sellers pay no closing costs; The California Homebuyer covers them entirely.
The California Homebuyer holds a 4.7-star rating on Google.
Website: thecaliforniahomebuyer.com
Phone number: 949-229-0630
Casey Buys Houses
Casey Buys Houses, based in Diamond Bar, buys houses in as-is condition all over Southern California. After visiting the property to assess its condition, Casey Buys Houses will present you with a cash offer. Closing can take place on your timeline or in as few as seven days.
Locations: Throughout Southern California, including Ontario.
Closing costs: Sellers pay no closing costs; Casey Buys Houses covers them.
Casey Buys Houses does not appear to be BBB-accredited; however, they hold a 5-star rating on Google.
Website: caseybuyshouses.com
Phone number: 909-455-9496
Jit Home Buyers
Jit Home Buyers is a reputable home-buying company specializing in providing quick and hassle-free solutions for homeowners looking to sell their properties. They focus on fair cash offers and aim to create a stress-free selling experience.
Locations: Ontario, Rancho Cucamonga, Fontana, and surrounding areas in California.
Closing costs: Sellers pay no closing costs; Jit Home Buyers cover them.
Jit Home Buyers boasts a 4.8-star rating on Google.
Website: jithomebuyers.com
Phone number: 510-473-5885
Why sell your Ontario house for cash?
There are plenty of valid reasons an Ontario home seller may choose to work with a Cash-For-Homes company. The primary reasons are speed, ease of transaction, and the certainty of the sale.
In Ontario, it typically takes around 72 days to sell a home on the market using an agent. That includes an average of 29 days on the market plus the typical 43 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 Ontario, 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 your home for cash may be the best fit for you:
- Job relocation: You need to move quickly for a new job and don’t have time to wait for the traditional home sale process.
- Divorce: You’re going through a divorce and need to sell your shared home fast to reduce stress and move on.
- Inherited property: You’ve inherited a home that you’d rather sell quickly instead of dealing with repairs or maintenance.
- Downsizing: You’re ready to downsize and prefer to sell your current house for cash to make the transition smoother.
- Repairs: Your home needs significant repairs, and selling for cash allows you to avoid the hassle and cost of fixing everything up.
- Open houses: You’d like to avoid the stress of hosting open houses and multiple showings by opting for a direct cash sale.
- Foundation issues: Your house has foundation problems, and a cash sale lets you sell the property as-is.
- Foreclosure: You’re at risk of foreclosure and need to sell quickly to avoid further financial trouble.
- Problem tenants: You own a rental property with difficult tenants, and selling for cash offers an easy way out.
- Selling from out of state: You’re managing a home sale from out of state and need a fast, stress-free transaction.
Pros and cons of house-buying companies in Ontario
When working with a house-buying company in Ontario, you’ll find some key advantages and disadvantages. Below, we’ll outline the main pros and cons so you can decide whether this option is a good fit for your home sale needs.
- Quick sale: These companies typically close in a matter of days or weeks, much faster than a traditional sale.
- As-is condition: They’ll buy your home as-is, meaning you don’t have to worry about making repairs or upgrades.
- No preparations needed: You can skip cleaning, staging, and open houses when selling to a house-buying company.
- No contingencies: Cash buyers don’t require contingencies, which reduces the risk of your deal falling through.
While selling to a house-buying company in Ontario offers convenience, you will likely get less than what you would selling on the open market with an agent. This tradeoff is often the biggest downside. Below are a few additional drawbacks to consider.
- Lower offer: Cash buyers typically offer below market value for your home, which could mean a smaller profit than a traditional sale.
- Potential scams: The industry isn’t heavily regulated, so it’s important to be cautious of scams and fraudulent buyers.
- Limited negotiation: Most house-buying companies present take-it-or-leave-it offers, leaving little room for negotiation on price.
- Less market exposure: You won’t have the benefit of listing your home, which might reduce competition and ultimately result in a lower sale price.
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 selling your home to a We Buy Houses for Cash company in Ontario, it’s crucial to make sure you’re working with a trustworthy buyer. The level of service you experience can vary, depending on the company’s character and reputation. Here are a few steps to vet your cash buyer:
- Check reviews: Look for customer reviews and testimonials to get a sense of the company’s reputation and previous sellers’ experiences.
- Research market presence: See how long the company has been in business and how many transactions it has completed in your area.
- Verify credentials: Ensure the company is properly licensed and accredited by relevant industry organizations.
- Read the contract: Carefully review the buying agreement before signing, making sure 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 Ontario home quickly
If you’re considering alternatives to house-buying companies, here are two fast-selling options:
iBuyers: Using automated valuation models, iBuyers like Opendoor and Offerpad make near-instant cash offers, typically closer to market value, for homes in good condition. The process is quick but involves service fees of 5%-6%.
Listing with an agent: Selling with an agent could result in a faster-than-expected sale, especially if your home is priced well in a seller-friendly market. A trusted agent can provide a comparative market analysis (often free) and may connect you with cash buyers. HomeLight can connect you with a top-performing agent today.
FAQs on Ontario house-buying companies
By and large, most We Buy Houses for Cash companies in Ontario 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 Ontario 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 Ontario ranch-style home could sell for $650,000 after repairs, but it will need $30,000 of work to get there.
($650,000 x .70) – $30,000 = $425,000
In this example, a Ontario We Buy Houses company might offer you around $425,000 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 Ontario 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.
- Research and vet the house-buying companies that serve your Ontario area. 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 Ontario vs. top Ontario 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 Ontario | Sell with a top Realtor in Ontario |
| Selling timeline | 7 to 30 days | 72 days average; 29 to attract an offer, 43 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 | 3%-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 Ontario is worth about $650,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $675,000.
| Sell to a We Buy Houses for Cash company in Ontario | Sell with a top Realtor in Ontario | |
| Estimated sale price | ($675,000 x .70) – $25,000 = $447,500 | $650,000 |
| Market preparations | 0 | $6,500 (1% of sale price) |
| Agent commissions | 0 | $19,500 (3% of sale price) |
| Closing costs | 0 | $9,750 (1.5%) |
| Estimated take-home for seller | $447,500 | $614,250 |
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
- Quick sale: House-buying companies offer fast, hassle-free transactions, often closing within days or weeks.
- As-is condition: You can sell your home without making repairs or preparing it for the market.
- Lower offers: Cash-for-homes companies usually offer less than market value for your property.
- No contingencies: These buyers typically don’t require contingencies, reducing the risk of delays or deals falling through.
- Limited negotiation: Most offers are take-it-or-leave-it, leaving little room for negotiation on price.
- 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 Ontario agent.
Header Image Source: (irianna88w / Deposit Photos)
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