You have many options when it comes to selling your home. You can sell through a real estate agent, or you can sell it yourself. You can also take the more unique route of selling your home to a company that buys houses for cash.
One such company is We Buy Houses. In this article, we’ll review We Buy Houses, how it works, and some of the pros and cons to help you decide if it’s the right choice for you.
What is We Buy Houses?
We Buy Houses is a national home buying company that has been in business since 1997. Headquartered in Southlake, TX, the company also operates under the names WBH Marketing, Inc., Fast Home Offers, and 1-800-CashOffer. The owner of WBH Marketing is Jeremy Brandt and the vice president is Dev Horn.
While online reviews of the services and information on the company behind the brand are scarce, our team at FastExpert dug a little deeper to find out what people are saying about We Buy Houses. We Buy Houses is not a franchise. They license the use of their branding and marketing materials to investors in certain geographic areas.
They are not a direct cash home buyer like some of the other We Buy Houses for Cash companies we have reviewed.
We Buy Houses Quick Stats
How Does We Buy Houses Work?
We Buy Houses’ goal is to help people who need to sell their homes fast and may not be able to do so through traditional means. If you’re considering selling your house to We Buy Houses, here’s how it works:
First, you contact the company and provide some basic information, such as:
- Contact information
- The type of property you want to sell
- The number of bedrooms and bathrooms
- Whether you are listed with an agent
- If the home is currently occupied
- The reason you’re selling
- Your asking price
Once the form is submitted, the parent company WBH Marketing, Inc. will match your information to a list of investors in their database. Some of these investors may be licensed to use the tradename We Buy Houses, but they are separate entities. WBH Marketing, Inc. (and therefore We Buy Houses) is not a licensed broker and they do not facilitate any real estate transactions.
You should expect to receive a call within 24 hours from one or more of the investors in their network. From there, they will work with you to schedule a time for a representative to view the home. While every situation is unique, you may receive a cash offer within 24-48 hours.
However, because the offers come from investors, not directly from We Buy Houses, there is no guarantee that the offer will be for a reasonable amount. To avoid selling for too low, be sure you speak with a local real estate agent first who can provide you with an estimate of your home’s value and help you schedule an appraisal.
If you accept the offer, they will work with you to schedule a closing date. The company states that they can typically close within 7-14 days.
The Pros of Selling Your Home to We Buy Houses
There are several advantages of selling your house to We Buy Houses, including:
- You don’t have to make any repairs – One of the main benefits of selling your home to We Buy Houses is that you don’t have to make any repairs. This can save you time and money, as well as the hassle of coordinating repairs while trying to sell your house.
- You can close quickly – If you need to sell your house fast, We Buy Houses may be a good option. The company says they can typically close within 7-14 days, which is much faster than the traditional home selling process.
The Cons of Selling Your Home to We Buy Houses
However, there are also some disadvantages to be aware of, including:
- You may not get a fair price – Because the offers come from investors, not directly from We Buy Houses, there is no guarantee that you will receive a fair price for your home. There is also no consistency between offers as different investors may offer different amounts. Be sure to speak with a local real estate agent first to get an estimate of your home’s value and help you schedule an appraisal.
- They are a middleman – We Buy Houses is not the actual buyer of your home. They are simply a middleman, connecting you with investors in their network. This means they may not be as invested in getting you the best possible price for your home.
- You may have to pay fees – Although We Buy Houses does not charge any commissions or fees, the investor who buys your home may charge their own fees. These could include an appraisal fee, a home inspection fee, and more.
- You may be on the hook for agent fees – If you are currently working with a listing agent, you should be aware that choosing to sell through We Buy Houses may not release you from your contract. This means you may still be on the hook for their commission fees.
- We Buy Houses is not an agent – If you choose to enter into a contract with an investor you were connected with through WBH, the deal is strictly between you and the investor. This means that if anything goes wrong, We Buy Houses is not responsible and you will have to take legal action against the individual investor.
We Buy Houses Reviews
When searching for reviews online, the topmost result for the Better Business Bureau is for an office in Columbus, OH. However, this appears to belong to one of their investors who is licensed to use the tradename, not the actual website itself. In fact, there are many We Buy Houses licensee offices listed in the Better Business Bureau directory throughout the US.
The actual BBB listing for the parent company shows they have an A+ rating and are accredited. However, because each office has its own listing, you should be sure to check the local BBB listing for the office you are considering working with.
Does We Buy Houses Sell Homes to Buyers?
We Buy Houses lists fixer-upper homes that were purchased by the investors in their network. If you contact them to purchase one of the distressed properties, they will connect you with the appropriate investor.
The homes are not owned by We Buy Houses – they are owned by the individual investors in their network. This is important to remember if something goes wrong during or after the sale.
Similar Companies Like We Buy Houses
- I Buy Houses
- MarketPro Homebuyers
- Finally Sold
- We Buy Ugly Houses
Speak to an Expert Before You Decide!
While it may be tempting to sell your home to a We Buy Houses for Cash company, it’s important to get all the facts first. Be sure to speak with a real estate expert before making any final decisions.
Get answers to your questions fast by finding an experienced real estate agent near you who can help. Remember, national home buying companies may seem like a great fit at first, but they don’t know your area like a local real estate agent. A local agent will be familiar with your market and can help you get the best possible deal.
Use our matching service to get connected with a real estate agent in your area who has experience working with home buying companies. With our service, you can be sure you’re getting the best possible advice before selling your home.