5 Top We Buy Houses for Cash Companies in South Florida
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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.
In South Florida, We Buy Houses companies are becoming a go-to solution for homeowners looking to sell quickly, especially when their properties require work. These companies offer an all-cash deal, providing a lifeline for those who might need more time, expertise, or financial resources to undertake repairs. This approach is particularly beneficial if you’re in a situation where a speedy sale is more valuable than waiting for a higher offer.
For many in South Florida, the decision to sell a house for cash arises from the need to navigate unexpected life changes or urgent financial requirements. Opting for a cash-for-homes company can streamline the selling process, allowing you to move forward with your plans without the usual delays of traditional real estate transactions.
This article will guide you through the intricacies of working with house-buying companies in South Florida. We’ll explore the pros and cons, helping you weigh your options and make an informed decision that aligns with your unique circumstances.
Sell Your House Fast in South Florida 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 South Florida.
Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of South Florida area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in South Florida
Selling your home in South Florida to a house-buying company can be straightforward. Here’s a step-by-step guide to help you understand the process, ensuring a smooth and efficient transaction.
- Research companies: Start by researching reputable house-buying companies in South Florida. Look for those with positive reviews and a strong track record in your area. This initial step is crucial to ensure you’re dealing with a legitimate and reliable buyer.
- Contact the company: Reach out to the chosen company to express your interest in selling. This can typically be done through their website or a phone call. Provide basic information about your property to get the process started.
- Schedule a home assessment: The company will arrange a visit to assess your home. This evaluation helps them determine the value of your property. Remember, they usually buy homes as-is, so extensive preparations are optional.
- Receive an offer: The company will present you with a cash offer after the assessment. This offer is often non-negotiable and based on the current condition of your home and market values in South Florida.
- Review and accept the offer: Take your time to review the offer. If it aligns with your expectations and needs, you can accept it. Remember, one key advantage is the speed and simplicity of the transaction.
- Close the sale: The company will handle most closing formalities once you accept the offer. The closing can happen quickly, sometimes within a week, allowing you to promptly access the cash from the sale.
By following these steps, you can confidently manage the sale of your South Florida home to a house-buying company.
Popular We Buy Houses for Cash companies in South Florida
If the process of selling to a house-buying company in South Florida sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some top companies that will pay cash for your or your parents’ Spanish or Art Deco-style homes. You can sell your South Florida home in as little as a week or two by selling to one of these companies.
South Florida Cash Home Buyers
Founded by Todd Sims, a real estate specialist since 2008, South Florida Cash Home Buyers assists homeowners in selling poorly maintained, unwanted, vacant, or inherited houses. Their website highlights a quick, uncomplicated, and cost-free cash offer process.
Locations: South Florida, including Miami Gardens, North Miami Beach, North Miami
Closing costs: Sellers pay no closing costs; South Florida Cash Home Buyers cover them.
Google reviews have rated South Florida Cash Home Buyers with 5 stars. One reviewer expressed, “South Florida Cash Home Buyers made selling my house easy. They have been extremely professional and patient.”
Website: southfloridacashhomebuyers.com/
Phone number: 305-458-8826
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in South Florida (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 South Florida.
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 South Florida
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 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
Phone: 844-488-8455
The Friendly Home Buyer
Established in 2017, The Friendly Home Buyer, a Miami-based house-buying company, emphasizes speed and assurance of cash sale closings within three days. Owned by Jared Sandel, boasting real estate industry experience dating back to 2011, the company commits to providing an instant cash offer once minimal information is submitted online.
Locations: Serves South Florida, Miami, Tampa, Orlando and Jacksonville
Closing costs: Sellers pay no closing costs; The Friendly Home Buyer covers them.
The Friendly Home Buyer, accredited by BBB since 2017 with an A+ rating, has earned a 5.0 Google star rating. Customers commend their speed, friendliness, caring approach, fair offers, and hassle-free process for selling homes ‘as is’ for cash.
Website: thefriendlyhomebuyer.com
Phone number: 888-713-9158
All About Real Estate
All About Real Estate (AARE) holds BBB accreditation with an A+ rating since 2018. It offers closings in as little as seven days, longer if needed. This extends to various property types, including distressed homes or those with challenges like hostile tenants, liens, or violations.
Locations: Florida and across the U.S.
Closing costs: You pay no closing costs; All About Real Estate covers them.
All About Real Estate maintains a 5.0 rating. Customers laud the company’s integrity, prompt delivery on promises, and legitimacy as real estate buyers in South Florida. Other reviews praise their knowledge and transparent processes.
Website: allaboutrealestate.com
Phone number: 786-753-8500
Homeinc
Homeinc offers a diverse range of property purchases, including single-family homes, multi-family homes, condominiums, and even mobile homes. They consider properties with code violations, structural issues, liens, and those in probate or insurance ineligible.
Locations: Properties purchased in Georgia and Florida, with Fort Lauderdale and Miami offices
Closing costs: Sellers pay no closing costs; Homeinc covers them.
Homeinc has been BBB accredited since April 2021 with an A+ rating and a 4.9-star rating on Google reviews. Despite their large team, individual staff members are praised for their expertise, responsiveness, and friendly approach.
Website: homeinc.com
Phone number: 888-850-2636
Why sell your South Florida house for cash?
There are plenty of valid reasons a South Florida home seller may choose to work with a Cash-For-Homes company. The main benefits are speed, sale certainty, and convenience.
In South Florida, selling a home on the market typically takes around 88 days using an agent. That includes an average of 43 days on the market plus the typical 45 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 South Florida, 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 South Florida home for cash to a house-buying company can be an appealing option in various situations, especially when traditional selling methods don’t align with your needs or circumstances. Here are some common scenarios where opting for a cash sale might be beneficial:
- Urgent financial need: If you’re facing immediate financial challenges, selling your home for cash can provide quick access to funds.
- Relocation for work: A fast cash sale can ease the transition when a job requires you to move quickly.
- Divorce settlement: In the event of a divorce, selling your home for cash can simplify the division of assets.
- Avoiding foreclosure: A quick cash sale can be a viable solution to prevent foreclosure and protect your credit.
- Inherited property: If you’ve inherited a property you don’t wish to keep, selling for cash offers a straightforward way to handle the estate.
- Property in disrepair: When your home requires extensive repairs you can’t afford or manage, a cash sale can save you from the hassle and expense.
- Desire for privacy: If you prefer a discreet sale without public listings or showings, cash buyers offer a private transaction.
- Landlord fatigue: Cash sales can be efficient for landlords wanting to sell rental properties quickly, especially those with problematic tenants.
- Health-related move: If health issues necessitate a move to assisted living or a relative’s home, selling for cash can expedite the process.
It’s essential to view this as just one option among many. Understanding the full spectrum of selling methods, including their pros and cons, will help you make an informed decision that best suits your unique situation. Let’s look into these aspects in the upcoming section.
Pros and cons of house-buying companies in South Florida
When considering selling your South Florida home to a house-buying company, it’s important to weigh the advantages and disadvantages. The biggest pros are the speed of the transaction and the ability to sell your home in any condition, without needing repairs or preparations.
Pros:
- Quick sale: The process is much faster than traditional real estate sales, often closing within days.
- No repairs needed: These companies will buy your home as-is, saving you the time and money involved in making repairs.
- Simplified process: The sale involves less paperwork and complexity compared to traditional real estate transactions.
- No real estate fees: You avoid paying agent commissions and closing costs, which can add up in a conventional sale.
Selling to a house-buying company in South Florida, however, often means receiving less than market value for your property. This is a significant con, especially when compared to selling through an experienced real estate agent.
Cons:
- Lower offers: Offers are typically below market value, reflecting the company’s need to profit from the eventual resale.
- Limited negotiation: The price offered is usually non-negotiable, giving you less control over the sale price.
- Less market exposure: Your home won’t be listed on the open market, potentially limiting higher offers from individual buyers.
- Potential for scams: It’s crucial to research companies thoroughly, as this sector can attract less reputable buyers.
Understanding these pros and cons is essential in making an informed decision. Next, we’ll discuss how to vet cash buyers and determine the true worth of your South Florida home, ensuring you make the best choice for your situation.
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 South Florida, it’s important to remember that the level of integrity and service offered can vary significantly. Your experience will depend on the character and professionalism of the individual or group making the offer. Before committing, take the time to thoroughly vet the company.
Start by checking online reviews and reading testimonials from previous sellers. Research the company’s market presence and track record in South Florida. This due diligence can give you a clearer picture of their reliability and business practices. Additionally, be sure to read the buying agreement carefully before signing.
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 South Florida home quickly
iBuyers: iBuyers, or instant buyers, use automated valuation models (AVMs) to offer a fast, mostly online home selling experience. They provide all-cash offers, often closer to market value, for homes in good condition, with the process from offer to closing taking just days to a couple of weeks. Keep in mind, iBuyers typically charge service fees around 5%-6%. iBuyers include companies like Opendoor and Offerpad.
Listing with an Agent: While selling through a real estate agent might seem counterintuitive in a discussion about quick cash sales, it’s a viable option for those in seller-friendly markets. Top agents can facilitate fast sales, particularly for well-priced, well-marketed homes. They can also offer valuable insights through a Comparative Market Analysis (CMA), usually for free, helping you set a competitive listing price.
In some cases, agents may connect you with buyers offering cash close to market value. Exploring this option with an agent ensures you’re making a well-informed decision. HomeLight can assist in connecting you with a top real estate agent in your area.
FAQs on South Florida house-buying companies
By and large, most We Buy Houses for Cash companies in South Florida are legitimate businesses. Their services and transaction fees may differ, but the business model has existed for decades. If you use an established group with a track record, you can be reasonably confident it’s legit.
That said, as with any financial transaction, it’s a good idea to be 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 South Florida 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 look at an example offer equation. Let’s say your South Florida Spanish or art deco-style home could sell for $950,000 after repairs, but it will need $30,000 of work to get there.
($950,000 x .70) – $80,000 = $585,000
In this example, a South Florida We Buy Houses company might offer you around $585,000 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 South Florida 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 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, it’s always a good idea to flat-out ask the company if any hidden program fees might impact your bottom line.
We Buy Houses for Cash in South Florida vs. top South Florida 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 South Florida | Sell with a top Realtor in South Florida |
| Selling timeline | 7 to 30 days | 88 days average; 43 to attract an offer, 45 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 South Florida is worth about $900,000 and needs about $85,000 in repairs. Once the repairs are completed, the home might be worth around $985,000.
| Sell to a We Buy Houses for Cash company in South Florida | Sell with a top Realtor in South Florida | |
| Estimated sale price | ($985,000 x .70) – $85,000 = $604,500 | $900,000 |
| Market preparations | 0 | $9,000 (1% of sale price) |
| Agent commissions | 0 | $52,200 (5.8% of sale price) |
| Closing costs | 0 | $13,500 (1.5%) |
| Estimated take-home for seller | $604,500 | $825,300 |
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 challenging in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Speed and simplicity: Selling your home to a house-buying company in South Florida offers a quick and straightforward process, ideal for urgent situations.
- No repairs needed: These companies buy homes as-is, saving you the hassle and expense of repairs.
- Lower offers: Be prepared to receive offers below market value, as these companies aim to profit from the resale.
- 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 key: Thoroughly vet any house-buying company before proceeding. Check reviews and understand their buying agreement.
- Consider all options: Exploring other selling methods, like iBuyers or listing with an agent, can provide a broader perspective on your home’s value.
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 South Florida agent.
Header Source: (Tessa Edmiston / Unsplash)
