5 Top We Buy Houses for Cash Companies in St. Louis
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Richard Haddad Managing EditorClose
Richard Haddad Managing EditorRichard Haddad is the managing editor of HomeLight.com. He works with an experienced content team that oversees the company’s blog featuring in-depth articles about the home buying and selling process, homeownership news, home care and design tips, and related real estate trends. Previously, he served as an editor and content producer for World Company, Gannett, and Western News & Info, where he also served as news director and director of internet operations.
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 the bustling city of St. Louis, a pressing need to quickly sell your home can be daunting, especially if your property requires extensive repairs. We Buy Houses companies in the Lou offer a lifeline with all-cash offers, often targeting homes that may have seen better days.
A cash sale is not just about speed; it’s a relieving option for homeowners who might not have the time, money, or desire to revamp their property. This allows you to swiftly access your proceeds, helping you to move forward to the next chapter of your life.
But is this the right avenue for your unique situation? Selling to a cash-for-homes company can be an invaluable solution to unexpected or urgent dilemmas. In this comprehensive guide, we’ll unpack the pros and cons of such decisions, ensuring you’re equipped to make an informed choice for your St. Louis home.
Sell Your House Fast in St. Louis 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 St. Louis area “we buy houses” companies should not be considered an endorsement.
Working with house-buying companies in St. Louis
Selling a home can be an emotional journey, especially when you need a swift transaction in St. Louis. House-buying companies streamline this process, allowing you to swiftly transition. Below are the basic steps to navigate your sale to a cash-for-homes company in the Gateway City:
- Research potential companies: Start by researching and shortlisting reputable house-buying companies that operate in St. Louis. Look for reviews, testimonials, and any red flags.
- Initial contact: Reach out to your chosen company. They will typically ask for basic information about your property and the reason for selling.
- Property assessment: The company will schedule an onsite visit to evaluate the condition and value of your home. This helps them make a fair cash offer.
- Receive an offer: Based on the assessment, you’ll receive a no-obligation cash offer. Consider the terms and amount carefully.
- Accept or decline: If the offer aligns with your expectations, proceed. If not, you’re free to explore other options.
- Close the deal: Once you accept, the company handles most of the paperwork, and you can often choose your closing date. After closing, you receive your cash payment.
- Move on: With the sale finalized, you can confidently transition to your next chapter, free from the burdens of a traditional home sale process.
Popular We Buy Houses for Cash companies in St. Louis
If the process of selling to a house-buying company in St. Louis 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 parents’ bungalow or your Mid-century Modern home. By selling to one of these companies, you should be able to sell your St. Louis home in as little as a week or two.
STL Pro Home Buyers
STL Pro Homebuyers, based in St. Charles, is a reputable family-owned real estate solutions company committed to assisting homeowners in challenging situations like foreclosure, probate, or ownership of burdensome properties. Their primary objective is to provide homeowners with practical options, allowing them to move forward and enjoy life without the hindrance of property-related dilemmas. Their approach is rooted in understanding and offering a tailored experience for each client. Whether you’re uncertain about selling your house or seeking advice on avoiding foreclosure, STL Pro Homebuyers prioritizes transparency and is always ready to assist.
Locations: St. Louis and other parts of Missouri
Closing costs: Sellers pay no closing costs; STL Pro Home Buyers covers them.
STL Pro Home Buyers is highly commended by past clients for their professionalism, knowledge, and exceptional service. Many reviewers highlighted the outstanding assistance provided by Alyssa and her team, emphasizing their expertise in the real estate market. Clients appreciate the seamless and comforting process when selling their homes, noting that the team ensures sellers get the best value for their properties. The company’s caring approach and commitment to finding solutions regardless of challenges have earned it a strong recommendation from many. Google rating is 5.0.
Website: stlprohomebuyers.com
Phone number: 636-400-6060
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in St. Louis (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 St. Louis.
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 St. Louis
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 4.6 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
Evervest Home Buyers
Evervest, co-owned by Scott Dolson and David M. Long, is a well-known as-is home-buying company in St. Louis. These seasoned business partners, native Missourians with over 30 years of collaboration, have been in the home buying and selling arena since 1996. They’ve successfully provided as-is selling solutions for more than 700 homeowners, handling challenges ranging from fire and tornado damages to faulty roofs and undesirable neighborhoods. As a locally-operated company, Evervest is deeply rooted in the St. Louis community, committed to simplifying the home-selling process and ensuring a hassle-free experience for homeowners.
Locations: St. Louis
Closing costs: Evervest often pays for closing costs.
Evervest Home Buyers has been BBB accredited since 2018 and has an A+ rating. Evervest Home Buyers is consistently praised by clients for their professionalism, honesty, and compassionate approach, particularly during challenging situations such as the loss of a loved one. Clients appreciate the company’s ability to quickly evaluate homes and offer fair prices, regardless of the home’s condition. Many clients emphasized the ease and speed of the entire process, from evaluation to closing. The additional efforts of the team to alleviate moving-related stresses further highlight their commitment to delivering an exceptional, hassle-free experience for St. Louis sellers. Google rating is 5.0.
Website: evervesthomebuyers.com
Phone number: 314-926-1974
Goliath Homes
Founded in 2014 by Alex and his twin brother upon the latter’s return from Afghanistan, Goliath Homes is a family-owned real estate company deeply rooted in the St. Louis community. Demonstrating their rapid growth and expertise, they managed to flip five homes in their inaugural year and now average between 20-30 home flips annually. More than just a business, the Coffey family is passionately involved in real estate while also enjoying local ball games, traveling, and giving back to their community. Anchored in integrity and transparency, Goliath Homes takes pride in consistently upholding promises and maintaining strong relationships with both staff and clients.
Locations: St. Louis and surrounding areas
Closing costs: Sellers pay no closing costs; Goliath Homes covers them.
Goliath Homes consistently delivers on their promise to provide a hassle-free selling experience. Many clients appreciated their no-hidden-costs approach, ability to choose the closing date, and the quick, fair offers provided. However, there were a few reviewers that mentioned communication challenges, especially mid-process, which caused brief periods of stress for those customers. Nevertheless, Alex, the owner, was attentive to these concerns, offering apologies and reassurance. Despite these hiccups, the overall sentiment from past clients is that Goliath Homes is professional, accommodating, and reliable, with numerous customers expressing their satisfaction with the results and their willingness to work with the company again. Google rating is 4.6.
Website: goliathhomes.com
Phone number: 314-274-6525
House Sold Easy
House Sold Easy has firmly established itself as a reliable home-buying company with over a decade of experience in the industry. Serving areas like St. Louis, St Charles, and the Metro East, they have a wide reach, even expanding their services to places like Columbia. Their straightforward approach involves a transparent valuation method, drawing comparisons from recent area sales and providing prospective sellers with detailed repair estimates. Offering cash payments and swift closings, often within two weeks, their team of professionals is adept at ensuring sellers feel supported, regardless of the home’s condition or appearance.
Locations: St. Louis, St. Charles, and surrounding areas
Closing costs: Sellers pay no closing costs; House Sold Easy covers them.
Clients highly appreciate the services of House Sold Easy, often emphasizing the team’s commitment to going above and beyond to assist. Notable qualities mentioned include their ability to offer fair valuations, even in challenging situations like incomplete rehabs, and their dedication to revitalizing the local St. Louis community. Customers also underscore the company’s swift action, transparency, and consistent communication. Many clients feel relieved of burdens and stress when selling their properties, praising the professionalism and efficiency of the House Sold Easy team. Google rating is 4.0.
Website: housesoldeasy.com
Phone number: 636-525-1566
Why sell your St. Louis house for cash?
There are plenty of valid reasons a St. Louis home seller may choose to work with a Cash-For-Homes company. Leading the list are the benefits of speed, certainty, and exceptional convenience.
In St. Louis, it typically takes around 66 days to sell a home on the market using an agent. That includes an average of 23 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 St. Louis, 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.
So, what might push a St. Louis homeowner to choose a cash sale over the well-trodden route of listing their property?
- Unique architectural challenges: Some St. Louis homes have unique designs or architectural quirks that may deter traditional buyers but are often non-issues for cash buyers.
- Urgency due to life’s unpredictability: Perhaps it’s an unplanned job transfer, an unforeseen medical issue, or the whirlwind of a sudden divorce — life doesn’t always wait for a traditional home sale.
- Limited funds or will for renovations: Some homes wear the marks of St. Louis’s varied climate. Whether it’s repairs from freezing winters or humid summers, not everyone has the means or desire to refurbish.
- Simplifying the selling maze: Skipping the endless house showings, negotiations, and the potential for deals falling through can be a huge relief for some sellers.
- Quiet sales for private sellers: Selling off-market maintains discretion, a factor some homeowners highly value.
- Avoiding foreclosure’s shadow: Before credit scores plummet or situations worsen, a fast sale can be a lifesaver.
- Dealing with inherited homes: An inherited property can come with complications and emotions. A quick sale can ease the transition.
- Landlords seeking an exit: Whether it’s escaping the grip of a problematic tenant or simply choosing to step away from being a landlord, cash sales offer an out.
- Elderly transitions: For seniors relocating to assisted living or moving in with family, the promptness of a cash sale can be invaluable.
- Geographical challenges: For those living out-of-state, the allure of a fast, hassle-free sale becomes even more pronounced.
Facing one of the above scenarios? Considering a We Buy Houses for Cash company in St. Louis could be your best bet. Yet, it’s merely a first step in your home-selling decision journey. Let’s review the pros and cons of this approach.
Pros and cons of house-buying companies in St. Louis
While house-buying companies offer undeniable advantages like quick sales and simplicity, there are also some drawbacks to consider. Let’s explore both sides of the coin.
Pros
The allure of quick transactions and selling homes as-is has driven many to explore the cash-for-home route. Most prominently, these companies promise speed and accept homes in any condition.
Here’s a brief overview of the notable benefits:
- Speedy process: Often, these companies can close deals in as little as 7 days, freeing you from lengthy waiting periods.
- No repairs required: Say goodbye to repair bills or staging hassles. These companies buy your home in its current state.
- Certainty of sale: Unlike traditional sales where deals can fall through, here you get a guaranteed sale.
- Simple transactions: Streamlined paperwork and straightforward terms make the process less cumbersome.
Cons
The most prominent drawback is the potential loss of proceeds that’s part of the trade-off for speed and convenience. Typically, cash buyers offer less than the market rate, especially when compared to sales facilitated by seasoned real estate agents.
Here’s a quick look at the key drawbacks:
- Below market offers: These companies aim to make a profit, which often means offering less than your home’s potential market value.
- Fewer buyer protections: Traditional sales routes come with certain protections and regulations which might be absent here.
- Potential for scams: As with any industry, there are unscrupulous players. Ensuring you’re dealing with a legitimate company is crucial.
- Lack of personal touch: The transaction can feel more commercial and less tailored to individual seller needs.
As we unfold this discussion, it’s evident that understanding your prospective buyer’s credibility and being aware of your home’s worth is vital.
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
Navigating the quick-sale landscape in St. Louis requires more than just the desire to sell; it demands diligence. Remember, the integrity and quality of service you’ll receive from a We Buy Houses for Cash company can fluctuate dramatically. Much of your experience hinges on the character of the individual or group behind the offer.
Before making a commitment, it’s important to conduct thorough due diligence. Dive into reviews, pore over testimonials, and assess their market reputation. Their past actions can paint a picture of your potential future with them. Equally vital is to meticulously review the buying agreement. Every line and clause matters.
HomeLight suggests you consult with an experienced St. Louis 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 home quickly
iBuyers
iBuyers use automated valuation models (AVMs) to give near-instant home value estimates, streamlining the home sale process online. These all-cash offers are often closer to market value and are ideal for homes in good condition. Yet, remember companies like Opendoor and Offerpad typically charge 5%-6% service fees. This option best suits properties in regions with uniform housing.
Listing with an agent
While seemingly unconventional in this context of selling fast, listing with a top agent can lead to a speedy sale if the property is strategically priced and well-marketed. HomeLight data indicates that top agents will get you a higher selling price, as much as 10% more than average agents.
A performance-proven Realtor will provide you with a comparative market analysis (CMA), which helps set the right price. This analysis, often free, helps you understand market value, potentially drawing offers closer to your home’s worth.
A well-connected St. Louis agent might also be able to link you with existing cash buyers in the area and can find you a cash offer closer to market value.
If you’re considering this route, HomeLight can link you with leading agents in your community.
FAQs on St. Louis house-buying companies
By and large, most We Buy Houses for Cash companies in St. Louis 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 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 St. Louis bungalow could sell for $311,100 after repairs, but it’s going to need $30,000 of work to get there.
($311,100 x .70) – $30,000 = $187,770
In this example, a St. Louis We Buy Houses company might offer you around $187,770 for your home.
However, different types of St. Louis 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 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 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 St. Louis vs. top St. Louis 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 St. Louis | Sell with a top Realtor in St. Louis |
| Selling timeline | 7 to 30 days | 66 days average; 23 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 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 St. Louis is currently worth about $311,100 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $336,100.
| Sell to a We Buy Houses for Cash company in St. Louis | Sell with a top Realtor in St. Louis | |
| Estimated sale price | ($336,100 x .70) – $25,000 = $210,270 | $311,100 |
| Market preparations | 0 | $3,111 (1% of sale price) |
| Agent commissions | 0 | $18,043 (5.8% of sale price) |
| Closing costs | 0 | $4,666 (1.5%) |
| Estimated take-home for seller | $210,270 | $285,280 |
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
- We Buy Houses for Cash companies in St. Louis offer the advantage of a swift, hassle-free sale, often in just a week, without the usual headaches of repairs, open houses, or showings.
- The St. Louis market boasts several trustworthy Cash-For-Homes companies ready to serve sellers.
- Opting for a We Buy Houses company will likely mean sacrificing potential profit, especially when compared to sales facilitated by top agents or iBuyers.
- HomeLight’s Simple Sale platform extends no-obligation, all-cash offers for St. Louis homes in almost any condition. With a wide array of investor partners with varied purchasing criteria, it’s a prime starting point if you’re uncertain about potential buyers.
While house-buying companies are a viable choice for those in St. Louis seeking a fast sale, it’s crucial to weigh the pros and cons. Rushed decisions during home sales often lead to regrets.
Before sealing the deal with any Cash-For-Homes company, ensure you’ve explored multiple offers and carefully weighed the benefits with what you might be giving up. It’s always beneficial to seek insights from a leading St. Louis agent to understand potential sale timelines and prices.
No matter the route you choose, HomeLight stands ready to assist in all your real estate endeavors!
Header Image Source: (Kenny Nguyễn / Unsplash)
