< Go Back to the iBuyer Blog

We Buy Ugly Houses & Homevestors Review – Pros & Cons

Posted on Share:

we buy ugly houses homevestors reviews banner

Figure out the right time to Buy or Sell with iBuyer.com Get Started Get A Free Home Valuation

We Buy Ugly Houses / Homevestors

Offer in 24 hours

Close in 3 weeks

Flexible closing

We Buy Ugly Houses, a name familiar to many, has etched its presence in the real estate landscape with a proposition that’s both enticing and straightforward: offering cash for houses regardless of their condition. 

With a track record spanning over 25 years, this company has positioned itself as a solution for homeowners looking to sell their properties swiftly, sidestepping the often cumbersome and lengthy processes associated with traditional real estate transactions. 

However, as appealing as this quick-fix solution may seem, it’s essential to peel back the layers and examine the nuances of their operations. In an industry where the fine print can often lead to unexpected outcomes, a critical eye towards We Buy Ugly Houses® reveals a model that, while promising convenience and speed, warrants a closer inspection to ensure it aligns with the best interests of homeowners looking to sell. 

This introduction aims to provide a balanced, professional critique of their services, emphasizing the importance of understanding the implications of their cash offer system in the broader real estate market context.

How Does We Buy Ugly Houses Work?

We Buy Ugly Houses operates under a model that simplifies the traditional home-selling process, aiming to provide a quick and hassle-free alternative for homeowners looking to sell their properties “as-is.” Here’s a breakdown of their process:

  1. Initial Consultation: The journey begins with a homeowner reaching out to We Buy Ugly Houses for a free, no-obligation consultation. This step involves providing details about the property, which the company uses to assess whether it fits their buying criteria.
  1. Home Evaluation and Offer: Following the initial contact, a local property specialist from We Buy Ugly Houses schedules a visit to the property. This visit allows the specialist to evaluate the house’s condition firsthand and consider any factors that might affect its value. Based on this assessment, the company then makes a fair cash offer to the homeowner. This offer is presented without any obligation for the homeowner to accept, aiming to eliminate the stress and uncertainty often associated with selling a home.

Discover your home’s worth online for free in minutes!

  1. Closing at Your Convenience: If the homeowner decides to accept the offer from We Buy Ugly Houses, they can choose a closing date that suits their schedule. The company emphasizes its ability to close quickly, potentially within as little as three weeks, although they can also accommodate longer timelines if necessary. Throughout this final phase, We Buy Ugly Houses aims to maintain transparency and communication, ensuring that the homeowner feels supported until the sale is complete.

What Kind of Homes Does We Buy Ugly Houses Buy?

We Buy Ugly Houses isn’t picky about the types of properties it purchases. Here’s a glimpse of what they look for:

  • Homes in Need of Repair: Properties that would benefit from some TLC, including major renovations or minor fixes.
  • Foreclosure Properties: Homes at risk of or currently going through the foreclosure process.
  • Inherited Properties: If you’ve inherited a property that you’re looking to sell quickly and hassle-free.
  • Rental Properties: Landlords looking to divest from rental properties, whether they’re occupied by tenants or vacant.
  • Relocation: Homes from owners needing to sell quickly due to a job relocation or other urgent moves.
  • Divorce Settlements: Properties that need to be sold as part of divorce proceedings.
  • Anything ‘As-Is’: From condos and duplexes to mobile homes, We Buy Ugly Houses buys properties in any condition, in any location within their service areas.

By offering to buy a wide range of properties ‘As-Is,’ We Buy Ugly Houses simplifies the selling process for homeowners, ensuring they don’t have to worry about the condition or type of their property when looking to sell.

What People Think About We Buy Ugly Houses

The first review presents a mixed experience with We Buy Ugly Houses, highlighting a quick and easy transaction process that was marred by an oversight in utility bill management. The failure to transfer the gas bill as promised led to unexpected expenses for the seller, tainting an otherwise satisfactory service experience. The lack of response from the buyer when attempting to rectify the situation further detracts from the company’s reputation for customer care.

“Very friendly and truly a very quick turn around time which was awesome. Very simple and easy process. The only reason it isnt a 5 star is that we were assured that once they closed on the sale they would get all of the utilities switched over to their accounts. All of them were except the gas which ended up costing over 3 times the monthly amount due to renovations I suppose. We didnt notice it the first month as we were paying the list of our bill and a new house bill. We ended up stuck with 3 months of the old houses gas bill which ended up being substantial. Attempted to contact the buyer multiple times with no luck and no return calls. Had this not occurred it would have been a perfect encounter.”

The second review offers a glowing endorsement of HomeVestors, praising the responsiveness, fairness, and professionalism of the company’s president, Nick. This review emphasizes the local knowledge and transparent process, contributing positively to the company’s image as a trustworthy and efficient home-buying service.

“I highly recommend HomeVestors. They are very quick to respond. The company president, Nick, came to my house within 24 hours after I called them. While the company is part of a national franchise, it is locally owned and operated by someone who is a native Philadelphian, so he knows the territory well. He made me a very fair offer on the spot. He was completely transparent about the process and offered explanations even before I asked some questions. They have a professional organization and are very polite and respectful in their dealings. I would suggest calling HomeVestors first, especially if you are contacting competing companies.”

The following review starkly contrasts the previous reviews by labeling the company as scammers. The reviewer recounts a distressing experience of purchasing a mold-infested home from the company, resulting in significant financial and personal hardship. The refusal of the company to negotiate a resolution paints a picture of a business lacking in empathy and customer support.

“Buyers and sellers please beware and stay away from this company! They are scammers. If you are selling your house to this company they make sure to low ball you and make you an offer way below market value. If you buy a home from this company or other companies they own it will be the worst mistake you ever made. I bought a house from them in 2021 and the house ended up being filled with mold and inhabitable. I’ve been homeless for the past 19 months, unable to live in my home but still required to make monthly mortgage payments. Carl Bassett indicated he’d rather file bankruptcy than negotiate a resolution. I just want to be able to live in my house again, without contracting mold spores, so if you see this message you have been warned!”

The forth review shares a positive experience with the company, highlighting the honesty and straightforwardness of the buyer, Tyler. The reviewer appreciated the clear communication regarding the company’s profit motives and felt supported during a difficult family transition. Despite recognizing a financial loss on the sale, the reviewer values the risk taken and the effort made by the company to facilitate the sale.

“Is very polite and up front. He shot straight with me about purchasing my parents home and understood what we were trying to do. Came thru on his promise to close as quick as possible with no hidden fees and no hassles. His time and interest in this property in Arizona City, Arizona was very helpful during a chaotic and emotional time for my family.

The biggest thing for me is we knew exactly what we had, the potential profitability of the property, and about what it would take to fix it enough to sell it. When we asked Tyler what he thought, he came straight and addressed the elephant in the room by saying “they are in the business to profit” which everyone absolutely knows but every salesman is afraid to say it. Once he owned up to his interests and plans I was hooked and really had no need to hear anyone else’s sales pitch. Yes, we took a loss, yes they purchase for little over what is owed, BUT, they take all the risk AND put up their cash to fix, clean, sell and close on both ends.

I’d use them again in a heartbeat if ever in that same situation.

Thanks Tyler and the ladies at Clear Title for being so helpful!!!”

The last review warns potential sellers against accepting initial offers from HomeVestors, alleging a significant undervaluation of their property. The substantial difference between the company’s offer and the eventual sale price suggests a predatory approach to profit-making at the seller’s expense. This review urges caution and encourages sellers to seek multiple offers before making a decision.

“Scandalous and shameful. We recently received a $240,000.00 cash offer from HomeVestors. Fortunately we talked with multiple buyers. We ended up netting $339,000.00 as the home sold for $360,000.00 as is. We would have lost $99,000.00 if we had trusted HomeVestors. I guess they believe we should have put 18 years of hard work into our home just to loose 100K so they could profit huge in 5 minutes. Proceed with extreme caution if you choose to deal with them!!”

The collection of reviews paints a complex picture of We Buy Ugly Houses and its associated entities. While some customers have had positive experiences marked by professionalism, quick transactions, and honest communication, others have faced significant challenges, including unfair valuations and serious property issues post-purchase. 

These mixed reviews show the importance of thorough research, due diligence, and obtaining multiple opinions before engaging with the company. Potential sellers and buyers should proceed with caution, balancing the allure of a fast, hassle-free transaction against the potential risks and drawbacks highlighted by these varied customer experiences.

What are some drawbacks that I have to consider?

While We Buy Ugly Houses strives to offer an exemplary service, potential sellers should consider these aspects:

Offer Value: Offers are based on the ‘As-Is’ condition of the property, which might not always match the market value if the home were sold through traditional channels after renovations.

Limited Negotiation: The efficiency of the process means there’s limited room for negotiation on the offer, which could be a drawback for those looking to maximize their returns.

Area of Operation: While serving a broad area, limitations may arise depending on specific locations within Florida.

Tips for Sellers – Don’t Miss These Essentials

Selling your home is a significant decision that requires careful consideration and planning. Whether you’re working with We Buy Ugly Houses or exploring other options, here are some essential tips to help ensure a smooth and successful sale:

Understand Your Local Market: Research current market trends in Florida. Knowing whether it’s a buyer’s or seller’s market can help you set realistic expectations regarding the sale price and timeline.

Prepare Your Home: First impressions matter. Even if you’re selling ‘As-Is’ to a cash buyer like We Buy Ugly Houses, a little tidying up can make a big difference. Decluttering and a deep clean can make your property more appealing during the initial assessment.

Get a Pre-Sale Home Inspection: Understanding the condition of your home can help you anticipate any concerns that cash home buyers might have. This insight allows you to be more informed during negotiations.

Set the Right Price: If you’re considering alternatives to cash buyers, setting a competitive price is crucial. Use comparable sales in your area to guide your pricing strategy, ensuring your home attracts attention without leaving money on the table.

Consider Minor Upgrades: For sellers not strictly looking for a cash offer, small improvements can significantly impact your home’s marketability and sale price. Focus on cost-effective upgrades that offer a high return on investment, such as painting or updating fixtures.

Other Home-Selling Solutions to Consider

Exploring all your options before making a decision is vital. Here are a few alternative solutions to consider alongside or instead of selling directly to We Buy Ugly Houses:

  • iBuyer Companies: Platforms like iBuyer.com use technology to offer a fast, fair, and straightforward selling process online. This option is perfect for sellers prioritizing convenience and speed.
  • Flat Fee MLS Services: ZeroFeeListed and similar services allow you to list your home on the MLS for a low, flat fee. This increases exposure while saving you the high commissions associated with traditional real estate agents.
  • Buying and Selling at the Same Time: Navigating simultaneous transactions can be challenging. iBuyer.com can connect you with partners to help coordinate the sale of your current home and the purchase of your new one, simplifying the process.

Interested in your home’s current market value? Receive a free online home value estimate!

FAQ – Frequently Asked Questions

What is We Buy Ugly Houses, and how does it work?

We Buy Ugly Houses is a company that offers to purchase homes directly from owners for cash, emphasizing a fast and hassle-free transaction. The process typically involves a property evaluation, an offer made to the homeowner, and, if accepted, a quick closing period. However, it’s crucial to note experiences vary, and some have reported less-than-favorable outcomes.

Will I get a fair price for my home?

While We Buy Ugly Houses advertises fair cash offers, “fair” is subjective and depends on various factors including your home’s condition, market demand, and the company’s investment criteria. Some sellers report satisfactory deals, whereas others felt their properties were undervalued. It’s advisable to compare offers from multiple sources before deciding.

Are there any fees or commissions involved?

The company claims there are no real estate agent commissions or hidden fees involved in the transaction. However, given that the business model is to profit from reselling the house, the offer you receive may be less than the market value to ensure their profitability. Always ask for a detailed breakdown of any costs you might be responsible for.

How fast can I close and get my cash?

We Buy Ugly Houses promotes the ability to close quickly, sometimes within three weeks, depending on your situation and legal requirements. However, the actual timeline can vary, and while it may be faster than selling through traditional methods, it’s essential to have clear communication about the expected closing date.

Can I change my mind after accepting an offer?

The company provides a three-day grace period after signing the contract during which you can reconsider and cancel the agreement without penalty. This policy offers a small window for sellers to back out if they have second thoughts or receive a better offer elsewhere.

What happens if my house needs significant repairs?

We Buy Ugly Houses specializes in buying homes “as-is,” meaning you won’t need to undertake any repairs or improvements before selling. This aspect can be particularly appealing if you’re looking to quickly offload a property that would otherwise require substantial investment to make market-ready.

Find out what your home is worth in minutes.