In February, the Austin housing market showed promising signs for first-time homebuyers with a notable 44.9% increase in new listings, elevating the total inventory to 3 months. This shift suggests a more favorable market for buyers, especially highlighted by the influx of more affordable homes priced under $400,000.
The median price for residential homes saw a slight increase, reflecting a stable yet accessible market. With the spring buying season on the horizon, these conditions indicate a potentially active market with opportunities for both buyers and sellers in Austin.
Do you or someone you love need to sell their home quickly? Are you facing a foreclosure? Do you just need to sell quickly so you can move on? If you answered “yes” to those questions, you most likely would benefit from working with a cash home buyer company.
They can offer you a quick and easy way to sell your home if you are in a rush to sell, but there is a slight catch. Most of these companies provide clients with offers less than the market value, which can eat up a lot of your potential proceeds.
To learn more about the most popular companies in Austin, continue reading below. We will cover what you need to know about these companies in addition to an alternative option that can save you more money.
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What are we buy houses companies?
We buy houses companies are private investment companies that offer all cash payments for homes in any condition. This works well for people who have property they can’t afford to make repairs on or if they have property they no longer want. Although a good majority of these companies are legit, there are a few that you should look out for.
How we buy houses companies work
When compared to selling your home on the traditional housing market, selling your home for cash cuts down a lot of time. For example, it typically takes between one to eight weeks to prep a house to sell and around 23 days to receive an offer in Austin’s market. The closing process is around one month and a half, and the minimum time to sell traditionally in Austin is about 42 days.
When it comes to We Buy Houses companies, that time minimizes by about 90%. Instead of waiting almost a month to receive an offer or to close, you can complete the process within one to two weeks.
There is also no time needed to prep your home before the sale. Most We Buy Houses companies purchase your home as it is. This means that you don’t have to conduct any repairs or clean up the house.
The We Buy Houses process
Each We Buy Houses company has its own buying criteria, and their final closing processes may vary, but they all tend to follow a general timeline. If you decide that you want to sell your home to a We Buy Houses company; you must first send them information about your property and your best personal contact information so they can reach back out to you. If your home meets their buying criteria, they may provide you with a rough estimate of how much they can offer.
1. Property inspection
The We Buy Houses company will send out their representative to take a look at your property and evaluate it. If any significant repairs are needed, they will note that because it will affect your final offer. Once they figure out how much they wish to offer, they will then provide you with an offer.
2. Accept and close on the sale
If you accept the offer, you get to choose your closing date. You can either close within a few days or a few weeks; the choice is yours. You won’t have to wait for buyer financing approval, inspections, or mandatory appraisals.
3. We buy houses takes possession
Most We Buy Houses companies turn their purchases into rental properties. Others fix and flip the property back onto the market for a quick profit.
Advantages of we buy houses companies
If you face foreclosure and need to sell your home quickly, you can benefit from partnering with a We Buy Houses company. Because they are able to offer you cash and close on the sale quicker than you would be selling the house traditionally, We Buy Houses companies are a great solution.
Other situations where We Buy Houses companies are an excellent option:
- Homeowners who can’t afford severe repairs in the home
- People who’ve inherited an unwanted property
- People who need to sell fast due to a divorce
The best part about working with these companies is you don’t have to repair anything before they make an offer. This solves the problem of trying to find a buyer if you’re selling the house as-is.
Lower overall costs
Not many people quite understand how expensive it is to sell a house. There are associated costs such as carrying costs, concessions, and commissions that can significantly impact how much you receive in profit.
Disadvantages of we buy houses companies
Although selling your home to a We Buy Houses company quickly sounds like an excellent idea, there are a few disadvantages you should keep in mind. For example, a lot of these companies follow predatory tactics. Most of these companies understand that their market is people who have distressed properties or are in situations where they need to sell quickly.
Instead of being transparent and trying to help out their clients, they prey on them instead. Before you partner with any of these, We Buy Houses companies, be sure that you check them out and ask questions about their process and how they value your home. If anything feels off, you may want to reach out to a different company.
Take it or leave it
In general, there is no negotiating with We Buy House companies. Once their representative evaluates your home and docks down any repairs, they will make their offer. If you disagree with their offer, you will have to move on to another company.
Lower offers
Even if you avoid real estate agent fees or other closing costs by selling to a We Buy Houses company, you still may end up with a lower than average offer. Most of these cash home buying companies offer you about 40% to 50% lower than the fair market value of your home.
1. iBuyer.com
Offer in 24-48 hours
No commissions or fees
Close in 7 days
iBuyer.com provides a modern twist to selling real estate, harnessing big data to streamline the home selling experience. Their service employs advanced algorithms to accurately estimate your home’s value, starting with the simple act of entering your address into their system. Homeowners benefit from a swift sales process, potentially receiving an offer in just a day.
With iBuyer.com, the power is in your hands. You decide if the cash offer fits your timeline and needs. Their method simplifies the selling process, eliminating common steps like repairs, upgrades, and showings. This efficiency can lead to a closing period of just a week.
iBuyer.com offers a unique proposition to sellers through technological innovation. Key benefits include:
- Data-driven and objective home evaluations
- Speedy cash offer generation
- The convenience of selling your property “as-is”
- Full control over your selling timeline
- Increased privacy, avoiding open houses and showings
- Easier transition for simultaneous home buying and selling
- A more relaxed and hassle-free selling process
iBuyer has garnered an “Excellent” rating on Trustpilot, with customer feedback highlighting the quick and effortless nature of their service.
Looking to sell in the vibrant Austin market? iBuyer operates nationally, including Austin, offering an innovative solution for your property sale needs.
2. Offerpad
Offer In 24 Hours
6% Service Fee
Helps You Move within 50 Miles
Offerpad stands out as a prominent iBuyer in the United States, known for offering reasonable prices based on real estate comparisons and a sophisticated algorithm. In Austin, Offerpad brings this efficiency to the table, providing homeowners with an offer within 24 hours. A home visit is part of their process to finalize the offer.
This company offers the flexibility of choosing your closing date and charges a 6% service fee, which is exclusive of the usual closing costs. Their unique Offerpad Flex option is particularly noteworthy. It allows homeowners to receive an offer before listing their property on the open market. Offerpad then takes care of marketing the home, arranging cleaning services, and handling repairs. If the property doesn’t sell, Offerpad will buy it at their original offer price, deducting only the expenses incurred in preparing it for sale.
Additionally, Offerpad covers moving costs within 50 miles and typically makes offers on condos, townhomes, and single-family homes built after 1960 and valued under $600,000.
The advantages of working with Offerpad in Austin include:
- Quick offers within 24 hours
- Option to sell on the real estate market
- Moving assistance for distances within 50 miles
- Flexible closing dates
- No need for pre-sale repairs
- Expertise in handling older homes
- No rush for post-closing move out
Offerpad has a solid online presence with a 3.2-star rating on Trustpilot based on 173 reviews and a 4-star rating on the Better Business Bureau from 260 reviews.
With its head office in Chandler, AZ, Offerpad operates nationally, including in Austin, offering its services to a wide range of homeowners looking for efficient and flexible home selling options.
3. Austin All Cash Home Buyers
Offer In 24 Hours
No Closing Costs, No Contingencies, No Appraisals
Close In As Little As 7 Days
Austin All Cash Home Buyers, led by Claudine and Dominic, is a local, family-run business in Austin, TX. Since 2014, they have specialized in buying houses for cash ‘as-is,’ offering a hassle-free experience without the need for realtors. They pride themselves on understanding individual seller situations and providing tailored solutions, ensuring a straightforward selling process.
The main benefits:
- Fair cash offer with no banks, appraisals, realtors, or closing costs
- No repairs required; they buy houses as-is
- No need for home showings as they are direct buyers
- Ability to close the sale fast, even in as little as 7 days
Austin All Cash Home Buyers is highly esteemed, with a 5.0-star rating on Google Reviews from 37 reviews, indicative of exceptional customer satisfaction. Furthermore, they hold an A+ accreditation with the Better Business Bureau, along with an average of 5/5 stars from 1 customer review and a record of zero complaints. This highlights their commitment to professionalism and integrity in real estate dealings.
They serve homeowners in Austin, TX, and surrounding areas, offering convenient and efficient home buying services.
4. Priority Home Buyers
Fair Offer Within 1 Hour
You Choose Move Out Day
You Choose Closing Day
Priority Home Buyers has been a key player in the Austin real estate market since 2008. They specialize in offering fast, all-cash offers for homes in any condition, emphasizing ease and convenience for the seller. Their approach focuses on solving real estate problems, ensuring every transaction is mutually beneficial.
The main benefits:
- Best all-cash offer with a quick and easy closing process
- No closing costs, agent fees, inspections, appraisals, showings, or open houses
- Flexibility in choosing the closing and move-out dates
- Ability to handle a variety of selling situations, including probate, foreclosure, or short salesHomes are bought as-is, with no need for repairs or fixes
Priority Home Buyers has a stellar reputation with a 5.0-star rating on Google Reviews from 21 reviews, indicating high customer satisfaction. Furthermore, they have an A- rating from the Better Business Bureau, with accreditation since May 12, 2023. They have zero customer complaints and, interestingly, no customer reviews on BBB, which highlights their commitment to service without disputes.
They buy houses not just in Austin, TX, but across the country, showcasing their expertise and flexibility in dealing with diverse real estate markets.
5. New Again Houses
Close In As 7 Days
Pays All Closing Costs
Fast And Fair Cash Offer
New Again Houses has been actively involved in the Austin real estate market since 2008. They specialize in buying houses for cash, offering fair cash offers to homeowners. Their approach eliminates the need for agents, banks, or cleaning up the house, providing a straightforward and hassle-free selling experience. The company focuses on buying houses in any condition and transforms them into remodeled homes.
The main benefits:
- Fair cash offers without the involvement of banks or agents
- No need for cleaning, repairs, or staging the house for sale
- Offers made for houses in any condition
- Quick closing process, with the possibility of closing in as little as 7 days
- Flexibility in scheduling the close and choosing the move-out day
New Again Houses has a 5.0-star rating from 14 reviews on Google Reviews, indicating a high level of customer satisfaction. They also have an A+ rating from the Better Business Bureau, with accreditation since April 25, 2011, and no customer complaints or reviews on BBB, showcasing their commitment to quality service and customer satisfaction.
While they are based in Austin, TX, New Again Houses has a broader reach, offering their services across various locations, demonstrating their adaptability and expertise in different real estate markets.
6. I Buy Austin Houses
Guaranteed Full Disclosure
Highest Standard Of Ethics
Fast And Timely Sale
I Buy Austin Houses, a local Austin family-owned company, has been committed to ethical and professional real estate transactions since 2006. They emphasize integrity and honesty in their dealings, focusing on providing fair and competitive offers to homeowners, regardless of their situation. The company caters to a wide range of homeowner needs, ensuring a respectful and considerate approach throughout the home-selling process.
Main Benefits:
- Professional home buyer offering honest, caring, and responsive services
- Stress-free selling experience, handling homes in any condition
- No need for repairs, agent fees, or property clean-ups
- Flexible closing options, accommodating unique seller situations
- Commitment to maintaining the highest ethical standards in all transactions
I Buy Austin Houses enjoys a strong reputation, with a 4.8-star rating on Google Reviews from 20 reviews. Additionally, they have an A+ rating from the Better Business Bureau, despite not being BBB accredited. With 17 years in business, they have consistently maintained a record of zero customer complaints, reflecting their commitment to customer satisfaction and trust.
They specialize in buying houses in the greater Austin area, demonstrating their expertise and familiarity with the local real estate market.
7. NextStep Homebuyer
Buy All Types Of Houses
All-Cash Offer On The Same Day
Close Fast And On Your Timeline
NextStep Homebuyer is a local real estate solutions company that prides itself on unparalleled customer service. They offer comprehensive assistance to homeowners across the U.S., focusing on fast and efficient home sales. The company stands out for its commitment to handling every aspect of the sale, offering full cash payments without realtor fees or closing costs. They buy properties in any condition, making the process straightforward for sellers facing various situations, from foreclosure to owning a property with tenants.
The benefits include:
- All-cash offers presented within 24 hours and the possibility of closing within 7 days
- Simplified selling process, covering all closing costs and assisting with the moving process
- No hidden fees, saving sellers from commissions, appraisals, and other common expenses
NextStep Homebuyer has a 5.0-star rating from 10 reviews on Google, reflecting their commitment to customer satisfaction. They also have an A+ rating from the Better Business Bureau, accredited since November 19, 2021, with an average of 2 customer reviews and no registered complaints, underscoring their reliability and professionalism in real estate transactions.
While based in Austin, TX, NextStep Homebuyer extends its services nationwide, showcasing their ability to adapt and provide solutions in various real estate markets.
Are we buy houses companies fraudulent?
Most of these cash buyer companies are legitimate, and they’ve been purchasing properties for years in their communities. Of course, others don’t have the same reputation and instead seek to prey on people.
Ensure that you do your research before you sign anything to ensure that you aren’t taken advantage of. Never sign a contract before thoroughly reading it. If the company makes you feel pressured to sign, that is a red flag.
Please take a look at a company’s reviews not only on their website but on third-party websites where they cannot edit comments or reviews. For example, you can check out websites like the Better Business Bureau or Google. Some companies have Yelp pages, and others may have Facebook pages as well.
Alternatives to we buy houses companies
Fortunately, We Buy Houses companies are not your only viable option if you need to sell your home quickly for cash. There are other companies known as iBuyers who follow a process reasonably similar to We Buy Houses. The significant difference between the two is that the iBuyer typically offers more than a We Buy Houses company.
The process to sell your property to an iBuyer starts with first locating a local iBuyer near you. You will then need to provide them with information about your property and your best personal contact information.
If your property meets the iBuyer’s criteria, they will send someone to take a look at the house. After a quick walk-through, they will advise you of their offer. If you accept, you have complete control when you close, and you walk away with more than you would with a We Buy Houses private investor.
Skip the research process
We Buy Houses companies are excellent for a quick and easy way to sell your home, but it may come at a price. Most of these companies don’t provide you with a fair market value, and sometimes they offer you less than fair market value.
That isn’t fair for you. Instead of dealing with companies that don’t value your property as much as an iBuyer would, you should sell to a reputable iBuyer in your local neighborhood.
