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Selling a home in Riverside isn’t always as straightforward as it seems, especially if your property needs work or if you’re facing a financial deadline. “We Buy Houses” companies provide all cash offers for sellers looking for speed and convenience.
For homeowners who might not have the time, expertise, or resources for repairs, a cash sale can be the golden ticket, allowing you to quickly pocket the proceeds and pivot to your next life chapter.
But is selling to a Cash-For-Homes company in California the right move for you? In this post, we’ll look at the process and unravel the pros and cons, ensuring you’re well-informed to make the best decision for your unique situation.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Riverside, CA area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Riverside
If you’re a Riverside homeowner eyeing a swift sale through a We Buy Houses company, here’s how the process generally works:
- Reach out to a company: Start by contacting a reputable house-buying company in Riverside. This can often be done online or over the phone.
- Schedule a property assessment: The company will likely arrange a visit to evaluate your home’s condition and determine its value.
- Receive and review the offer: Often, within 24 hours, you’ll get an all-cash offer based on the assessment. Ensure you thoroughly understand the offer’s details, including any associated fees and the closing date.
- Accept or decline: Make your decision. Be certain the offer aligns with your needs. If not, you’re free to explore other options.
- Complete the sale and move on: If you accept, the company will manage most of the paperwork and logistics. Once everything’s finalized, you’ll receive your cash payment, allowing you to move on to the next chapter of your life.
Popular We Buy Houses for Cash companies in Riverside
If the process of selling to a house-buying company in Riverside 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 Mediterranean-style home or your parents’ Spanish-inspired house. By selling to one of these companies, you should be able to sell your Riverside home in as little as a week or two.
We Buy Houses Riverside
Founded in 1998, We Buy Houses is a national homebuying network with independent franchise offices, serving more than 200 markets, including Riverside, California. They buy single-family homes, condos, land, and other types of real estate. The process includes the seller providing initial information on the property, then a representative will inspect the home and make an offer. Once an offer is accepted, the company sets the closing date, and sellers can expect to close within 7-14 days on average. We Buy Houses also works with foreclosures, sellers behind on payments, short sales, landlord-tenant situations, and vacant properties.
Locations: Riverside and surrounding areas.
Closing costs: Sellers pay no closing costs. We Buy Houses covers them.
We Buy Houses has been BBB accredited since 2020 and holds an A+ rating. Customer reviews for We Buy Houses speak to reliability, responsiveness, and fairness. Reviewers express that it was a quick and easy process and an overall great experience.
Phone number: 877-932-8946
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Riverside (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 Riverside.
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 Riverside
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
Seller’s Advantage Riverside
Seller’s Advantage, based in Irvine, is a respected family-owned company specializing in simplifying property sales. They prioritize quick transactions that deliver maximum value to homeowners. With strong ties to Southern California, their team consists of longtime local residents who emphasize integrity, transparent communication, and outstanding customer service, contributing to their 25-year record of success.
Locations: Orange County, including Riverside County
Closing costs: Sellers pay no closing costs. Seller’s Advantage covers them.
Seller’s Advantage has proudly held BBB accreditation since 2015, boasting an exceptional A+ rating and 4.91 out of 5 stars. With 4.6 Google stars derived from 230 reviews, they’ve consistently delivered on their promises. A satisfied customer commended the seamless selling process, emphasizing the team’s professionalism, friendliness, and their ability to address all inquiries promptly. The customer expressed complete satisfaction and highly recommended Seller’s Advantage. Additionally, the chosen escrow company, aligned with Seller’s Advantage, provided friendly and helpful service throughout the transaction.
Phone number: 800-208-3243
SoCal Home Buyers
SoCal Home Buyers, a distinguished Real Estate Investment firm, was established by the husband and wife team of Doug and Andrea Van Soest. The company’s expertise lies in assisting homeowners facing urgent property sales or troublesome real estate situations. “We started SoCal Home Buyers because we wanted to give you a reliable, trustworthy, home-selling solution,” the Van Soest co-founders explain on their website. They buy homes in any condition throughout the Riverside area.
Locations: Riverside and other South California Counties
Closing costs: Sellers pay no closing costs. SoCal Home Buyers covers them
SoCal Home Buyers takes pride in its BBB accreditation since 2018 and holds an A+ rating. This stellar reputation is further substantiated by a 4.7 Google rating. A satisfied client commended the company’s remarkable organization, proactive communication throughout the process, and prompt transaction completion, expressing their gratitude for the excellent service provided.
Phone number: 951-331-3844
Riverside Home Buyers
Riverside Home Buyers is a locally owned and operated real estate solutions company with a staff that has more than 20 years of experience. Once you’ve completed their online form, a real estate solutions specialist will contact you and schedule a time to view the property. Their team of experts strives to treat each client with professionalism, understanding, and respect. They buy houses in any condition, in any Riverside area, in any price range, and in any situation. Riverside Home Buyers can close in as few as five days or on your timeline.
Locations: Riverside, California
Closing costs: Sellers pay no closing costs. Riverside Home Buyers covers them.
Riverside Home Buyers maintains a 5.0-star rating on Google. Past clients share consistently positive experiences and mention staff members by name. One reviewer writes, “Tommy is very knowledgeable! He makes the whole process very easy to understand and will go out of his way to make it easy on you. Definitely recommend him for any of your real estate needs.” Another writes, “Charlie was very helpful and knowledgeable about the questions and concerns I had relating to [real estate]. His pleasant and welcoming demeanor was very professional and accurate.”
Phone number: 951-498-4366
Why sell your Riverside house for cash?
There are many reasons a Riverside home seller may choose to work with a Cash-For-Homes company. Leading the list are the benefits of speed, certainty, and remarkable convenience.
In Riverside, it typically takes around 79 days to sell a home on the market using an agent. That includes an average of 35 days on the market, plus the typical 44 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 Riverside, and it’s clear why these We Buy Houses groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
Let’s take a quick look at some scenarios where a house-buying company in Riverside might be the ideal solution.
- Repair costs mounting up: Perhaps your Riverside home is facing expensive repair work like a cracked foundation, outdated electrical systems, or extensive roof damage.
- Immediate life changes: Whether it’s a sudden job relocation, divorce, pressing medical concerns, or an unexpected family event, sometimes you need to make a swift move.
- Lack of funds for refurbishments: Maybe sprucing up your property for the market isn’t financially viable, making a cash sale a practical choice.
- Avoiding sale stresses: The idea of staging, viewings, and prolonged negotiations can be daunting; selling for cash bypasses these hurdles.
- Seeking discretion: If you’re yearning for a private, under-the-radar sale, house-buying companies offer a more concealed route.
- Foreclosure looming: Before credit scores plummet and situations get murkier, a quick cash sale can be a way out.
- Inherited property burdens: Sometimes, the weight of an inherited home can be too much, especially if you have no plans to live in or maintain it.
- Landlord fatigue: If managing a rental or handling challenging tenants isn’t your cup of tea anymore, selling can be a welcome relief.
- Transitioning to assisted living: For older Riverside residents moving to care facilities, a cash sale can simplify the transition and aid in funding.
- Living elsewhere: Selling a Riverside home from another state can be tricky; cash sales simplify the process, offering speed and convenience.
If any of these scenarios resonate with your situation, a We Buy Houses company in Riverside might just be the solution you’re seeking. However, there are still some things to consider in order to make a fully informed decision.
Pros and cons of house-buying companies in Riverside
While selling your Riverside home to a house-buying company can be an alluring prospect due to its speed and hassle-free process, it’s essential to weigh the pros against the cons. Let’s explore the benefits and drawbacks to provide a clearer picture.
There’s no doubt that the allure of quick sales and the promise of buying homes in any condition can make these companies a tempting option. Here are some standout advantages:
- Immediate offers: One of the most significant benefits is the speed. You can typically sell your house in as few as seven to 10 days.
- No repairs required: You can sell your home as-is. No need to stress about repairs or updates before selling.
- Simple process: These companies streamline the sale, reducing paperwork and bureaucratic hurdles, making for a smooth transaction.
- Avoiding fees: Traditional sales often involve Realtor fees and closing costs. Selling for cash usually means you bypass these.
- More certainty: A We Buy Houses company can provide you with a solid cash offer that comes with no contingencies. Your sale is essentially guaranteed.
It’s essential to understand that the convenience of a quick sale often comes at a cost. Here are some factors to consider:
- Lower offers: The most glaring downside is the potential reduced payout. Cash buyers generally offer below the market value to ensure their profit margins.
- Less negotiation: Unlike traditional sales, where negotiation is common, cash offers are typically firm, leaving little room for price adjustments.
- Lack of personal touch: The process, while fast, can feel impersonal. Some sellers might miss the connection and guidance a realtor provides.
- Pressure tactics: We Buy Houses for Cash companies know that homeowners in need of a quick sale are often facing a desperate situation. Some companies may take advantage of this urgency by applying pressure tactics.
- Potential for scams: While most companies are legitimate, there’s a risk of encountering scammers. Always vet the company you’re considering.
Vet cash buyers and know your home’s worth
While a quick cash offer for your Riverside home can be enticing, it’s crucial to remember that the experience you have with a We Buy Houses for Cash company hinges significantly on the integrity and service level of the entity making the offer. Not all cash buyers are created equal.
Before taking that leap, dig deep into your potential buyer’s reputation. Scour online reviews, pore over testimonials, and assess the company’s market standing. Are they known for fair deals and prompt service? Or are there red flags signaling potential issues?
Additionally, don’t let the allure of a fast sale cloud your judgment when reviewing the buying agreement. 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.
Other options to sell your Riverside home quickly
iBuyers, short for instant buyers, use automated valuation models (AVMs) to offer near-immediate home value estimates. Originating in the mid-2010s, they focus on all-cash offers for homes in prime condition, often closer to market value. The entire process, from offer to close, is swift — a few days to two weeks.
Listing with an agent
Though it may seem unconventional in a discussion about We Buy Houses companies, using a top Riverside real estate agent can mean a speedy sale if your home is in a seller-favorable market, is priced strategically, and marketed effectively. Market-listed properties often fetch higher selling prices, especially when teamed with a top agent. HomeLight data shows that the top 5% of agents sell homes for up to 10% more than average agents.
A seasoned Riverside agent can also offer a comparative market analysis (CMA), a detailed report highlighting your home’s value by comparing it with recently sold, similar properties. This analysis can be instrumental in gauging potential sale speed and price. Many Realtors offer a CMA for free.
Furthermore, seasoned agents might have cash-ready buyers in their network, ensuring you get a fair market deal. HomeLight can connect you with a leading real estate professional in Riverside.
FAQs on Riverside house-buying companies
By and large, most We Buy Houses for Cash companies in Riverside 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 Riverside 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 Riverside Mediterranean, modern, and Spanish-inspired homes could sell for $600,000 after repairs, but it’s going to need $50,000 of work to get there.
($600,000 x .70) – $50,000 = $370,000
In this example, a Riverside We Buy Houses company might offer you around $370,000 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 Riverside 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.
- Research and vet the house-buying companies that serve your Riverside 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 Riverside vs. top Riverside 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 Riverside||Sell with a top Realtor in Riverside|
|Selling timeline||7 to 30 days||79 days average; 35 to attract an offer, 44 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 Riverside is currently worth about $600,000 and needs about $40,000 in repairs. Once the repairs are completed, the home might be worth around $640,000.
|Sell to a We Buy Houses for Cash company in Riverside||Sell with a top Realtor in Riverside|
|Estimated sale price||($640,000 x .70) – $40,000 = $408,000||$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||$408,000||$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 Riverside 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.
- Speed is the top benefit: We Buy Houses companies in Riverside offer a faster route to selling, especially for properties needing repairs or for homeowners in a hurry.
- Offers will be lower: Typically, these companies provide below-market offers since they assume all repair and resale risks.
- Know your home’s worth: Research your property’s market value and understand what you’re potentially sacrificing for speed. A comparative market analysis from a real estate agent can be illuminating.
- Other options available: Consider iBuyers for more market-reflective offers on homes in good condition or listing with a top agent for potentially higher sale prices.
- Due diligence is key: Not all house-buying companies are created equal. Vet thoroughly, read reviews, and understand the buying agreement.
As you make plans to sell your Riverside home, it’s strategic to gather multiple offers and consider all your available options before diving into any commitments. For an expert’s perspective on the probable timeline and potential price for your home on the open market, consider consulting with a top Riverside real estate agent.
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 partner with a top Riverside agent.
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