5 Top We Buy Houses for Cash Companies in Southern California
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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 Southern California, where the real estate market is as dynamic as the landscape, homeowners facing the urgency of a quick sale are increasingly turning to We Buy Houses companies. These firms offer an expedient solution, providing all-cash offers for homes that might need sprucing up.
This option is particularly beneficial for those who lack the time, expertise, or funds for repairs, enabling them to receive proceeds and pivot towards their next life chapter swiftly.
Selling your home for cash can be a lifeline in unexpected or pressing situations. It’s a path that circumvents the traditional, often time-consuming real estate process. However, this convenience comes with its own set of considerations.
This article aims to guide you through the nuances of dealing with cash-for-homes companies in Southern California. We’ll explore the pros and cons, helping you weigh your options and make an informed decision that aligns with your needs and circumstances.
Sell Your House Fast in Southern California 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 Southern California.
Disclaimer: This post is meant for educational purposes only and does not constitute legal or financial advice. Links and mentions of Southern California area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Southern California
Selling your Southern California home to a house-buying company can be straightforward if you’re equipped with the right information. Here’s a simplified guide to help you understand the process, ensuring a smooth and speedy transaction.
- Research companies: Research various house-buying companies in Southern California to find reputable ones. Look for reviews, past customer experiences, and their business history to ensure credibility.
- Contact the company: Reach out to your chosen company. Provide basic information about your property, such as location, size, and condition. This initial contact can typically be done online or over the phone.
- Schedule a visit: The company will arrange a visit to your property. This is to assess the home’s condition and determine an offer. Ensure your home is accessible for this evaluation.
- Receive an offer: The company will present you with an all-cash offer after the visit. This offer is usually non-negotiable and based on the as-is condition of your property.
- Review and accept: Take time to review the offer. If it aligns with your expectations and needs, you can accept it. Remember, there’s no obligation to accept if it doesn’t meet your requirements.
- Close the deal: The company will handle most of the paperwork upon acceptance. The closing can be quick, often within a week, leading to a swift transfer of funds to you.
Popular We Buy Houses for Cash companies in Southern California
If the process of selling to a house-buying company in Southern California sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some top companies to pay cash for your or your parents’ Tudor revival or Spanish colonial housing style. You can sell your Southern California home in as little as a week or two by selling to one of these companies.
Premier Property Buyers
Established in 2003, Premier Property Buyers, prioritizes purchasing homes regardless of their condition or the owner’s circumstances. They ensure a seamless process by charging no fees, covering closing costs, and facilitating swift home closings, often within a week.
Locations: Southern California
Closing costs: You pay no closing costs; Premier Property Buyers covers them.
Premier Property Buyers holds a 5-star rating on Google reviews. The company holds a Better Business Bureau accreditation of an A+ rating in 2018. Customers in Southern California highlight the company’s expertise, patience, and responsiveness during the sales process.
Website: premierpropertybuyers.com
Phone number: 714-475-7526
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Southern California (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 Southern California.
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 Southern California
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
Phone: 844-488-8455
SoCal Home Buyers
SoCal Home Buyers specializes in acquiring various properties, from single-family fixer-uppers to turn-key multifamily homes. After assessing your property, they can swiftly offer a closing within as little as seven days.
Locations: San Bernardino, Riverside, Los Angeles, San Diego, and Orange counties
Closing costs: You pay no closing costs; SoCal Home Buyers cover them.
SoCal Home Buyers SoCal Home Buyers maintain an A+ rating from the Better Business Bureau. The company holds a 4.7-star rating on Google reviews. Clients appreciated recommendations for probate attorneys and a subsequent offer increase.
Website: socalhomebuyers.com
Phone number: 951-331-3844
Tarek Buys Houses
Established in 2017, Tarek Buys Houses is a cash home buyer specializing in quick property transactions. They offer a unique solution by purchasing outdated or distressed homes, allowing homeowners to convert their properties into cash within seven days.
Locations: Throughout Southern California, with featured markets including Orange County, Los Angeles, and Tulsa County
Closing costs: Sellers pay no closing costs; Tarek Buys Houses covers them.
Tarek Buys Houses, BBB accredited since 2021, holds a 4.7-star rating on Google reviews. Reviewers touted the transparent process, effective communication, and a stress-free closing.
Website: tarekbuyshouses.com
Phone number: 866-419-4117
Property Escape
Property Escape, also recognized as Property Escape We Buy Houses, operates as a real estate firm from Long Beach, California. They collaborate with real estate agents to facilitate quick home sales for their clients.
Locations: Throughout Southern California, including Orange County, Los Angeles, Anaheim, and Pasadena
Closing costs: Sellers pay no closing costs; Property Escape covers them.
Property Escape holds a 5-star Google review rating, highlighting its reputation for being easy to work with and highly responsive. Customers emphasize the team’s approachability and extensive understanding of the Southern California housing market.
Website: propertyescape.net
Phone number: 714-613-0600
Why sell your Southern California house for cash?
A Southern California home seller may choose to work with a Cash-For-Homes company for plenty of valid reasons. The primary benefits are speed, certainty, and remarkable convenience.
In Southern California, selling a home on the market typically takes around 89 days using an agent. That includes an average of 44 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 Southern California, 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 Southern California home for cash can be a compelling option in various situations. These companies offer a straightforward, expedient solution, especially beneficial in scenarios where traditional real estate routes may not be viable. Let’s look at some typical circumstances where opting for a cash sale might be advantageous:
- Repair issues: If your home has significant repair needs, like structural problems or outdated systems, selling for cash eliminates costly renovations.
- Urgent financial need: Whether it’s due to medical bills, debt, or other financial pressures, a quick cash sale can provide immediate relief.
- Relocation requirements: If you’re relocating for a job or personal reasons and need to move quickly, selling for cash speeds up the process.
- Desire for simplicity: Avoiding the hassle of showings, negotiations, and long wait times appeals to many sellers seeking a straightforward transaction.
- Foreclosure avoidance: Facing foreclosure, a cash sale can be a way to settle debts and potentially save your credit score quickly.
- Inheritance settlement: Quickly liquidating an inherited property without the usual real estate rigamarole is often more accessible with a cash offer.
- Rental property release: Cash sales provide a quick exit strategy for landlords wanting to offload rental properties or handle problematic tenants.
- Senior transitioning: Seniors downsizing to care facilities or with family members may find selling for cash a convenient way to manage property transitions.
Fully understanding your options, including the advantages and disadvantages we will explore next, is essential in making an informed decision.
Pros and cons of house-buying companies in Southern California
When considering a house-buying company in Southern California, speed and convenience stand out as significant advantages. These companies can purchase your home in its current state, eliminating the need for repairs or staging.
Pros:
- Rapid closing: Offers a quick sale process, often closing within days, ideal for urgent situations or when you need to relocate swiftly.
- As-is purchase: Buys your home in its current condition, saving you from the hassle and expense of repairs and renovations.
- No real estate fees: Eliminates traditional realtor commissions and closing costs, potentially saving you considerable money.
- Simplified process: Provides a straightforward and stress-free selling experience without the complexities of showings, negotiations, or financing contingencies.
However, while the convenience is appealing, it’s important to be aware of the trade-offs. The most significant downside is receiving less than the market value for your property. This could be crucial, especially if maximizing your sale price is a priority.
Cons:
- Lower offers: Typically provides offers below market value, which might not be ideal if your goal is to maximize profit.
- Limited negotiation: Offers are usually non-negotiable, giving you less control over the final sale price.
- Potential for scams: Requires vigilance to avoid unscrupulous companies, as the industry is not without its share of deceptive practices.
- Less market exposure: Reduces the potential of receiving higher offers that might come from a broader market exposure through traditional listings.
As you weigh the pros and cons of selling your Southern California home to a house-buying company, it’s equally important to vet potential buyers thoroughly and understand your home’s worth.
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 Southern California, it’s important to remember that your experience will largely depend on the integrity and service level of the company you choose. The character of the person or group making the offer can significantly influence the process and outcome.
Before committing to a cash offer, take the time to vet the company thoroughly. This means checking online reviews, reading testimonials, and researching their market presence and past performance. It’s also important to carefully read the buying agreement before signing. Understanding the terms and conditions can help ensure the deal aligns with your expectations and protects your interests.
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 Southern California home quickly
iBuyers: iBuyers, like Opendoor and Offerpad, are revolutionizing the Cash-For-Homes market using automated valuation models for quick, online-oriented transactions. While typically offering closer to market value for homes in good condition, they often include service fees of around 5%-6%. Ideal for homeowners in areas with standardized housing, iBuyers streamline the selling process, detailed in the iBuyer process.
Listing with an Agent: Listing with a real estate agent offers a traditional yet effective route, particularly in seller-friendly markets. Agents can hasten sales with strategic marketing and pricing, often leading to higher returns. They provide valuable market insights through a Comparative Market Analysis (CMA), which is often free. This analysis helps set a competitive listing price. In some cases, agents might connect sellers with cash buyers, offering more advantageous deals. For those considering this option, HomeLight can connect you with a top agent in your area.
FAQs on Southern California house-buying companies
By and large, most We Buy Houses for Cash companies in Southern California 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 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 Southern California 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 Southern California Tudor revival or Spanish colonial could sell for $950,000 after repairs, but it’s going to need $30,000 of work to get there.
($950,000 x .70) – $80,000 = $585,000
In this example, a Southern California 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 Southern California 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.
We Buy Houses for Cash in Southern California vs. top Southern California 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 Southern California | Sell with a top Realtor in Southern California |
| Selling timeline | 7 to 30 days | 89 days average; 45 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 Southern California is currently 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 Southern California | Sell with a top Realtor in Southern California | |
| 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 a challenge in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Speedy process: Selling to a Cash-For-Homes company in Southern California offers a fast and straightforward way to sell your property, especially useful in urgent situations.
- No repairs needed: These companies buy homes as-is, meaning you won’t need to spend time or money on repairs or renovations.
- Simple transaction: The process is typically less complex than traditional real estate sales, with no need for staging, showings, or lengthy negotiations.
- Below-market offers: Be aware that these companies often make offers below the current market value of your home.
- Research is key: It’s crucial to thoroughly vet any house-buying company you consider, including checking reviews and understanding their buying agreement.
- Consider all options: Weighing the pros and cons of selling to a cash buyer versus using traditional real estate channels is essential for making the best decision for your situation.
- 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 Southern California agent.
Header Source: (Benoit Debaix / Unsplash)
