Who is “We buy ugly houses?”
We Buy Ugly Houses is a cash-for-house company operating across the United States. It has been in business for over two decades, and its customers have purchased over 100,000 homes.
We Buy Ugly House is a subsidiary of HomeVestors, the parent firm. It’s been a well-established business in operation for more than two decades. Each franchise is owned and operated individually and caters to a certain geographic area.
This organization guarantees that it will acquire your house in just three weeks. Before making an offer, the staff at We Buy Ugly Houses will come to your home to assess the condition of the house or unit.
You should expect an offer of 50 to 70% of the home’s real market value. The average cash offer from investors is 65% of fair market value. If you publish the home on the MLS, you can negotiate cash bids in a competitive pool of purchasers.
What Types of Properties can you sell to We Buy Ugly Houses?
For ugly house buyers, an unsightly house is an investment opportunity. You can sell the house if you are in severe need of money. The firm defines those properties as “ugly” with:
- Pending foreclosures
- Structural issues
- Bad mortgage financing
- Inherited houses
- Homeowners going through a divorce or retirement
- High-crime neighborhoods
- Liquidating assets to pay bills
- Flood plain or weather prone areas
Selling Process of We Buy Ugly Houses
When thinking of “sell my house fast for cash” it is more efficient than the traditional method of selling. You avoid duties such as repairs, house visits, home staging, and showings and are immediately offered cash for your home. The selling Process of We Buy Ugly Houses are as follows:
Fill out the basic details of your house
You can seek an offer from your local We Buy Ugly Houses franchise over the phone or online by providing details about your home’s location, area, and features.
Schedule a Home inspection
When you call this home buying organization, they will put you in touch with a local franchisee who will contact you to set up a time to visit your house.
Home inspection and Offer
According to We Buy Ugly Houses reviews, staff will come to your home and inspect it to determine the condition and repair expenditures necessary to sell it for full market value. They will make an offer to you, which you can accept or refuse.
Close the deal and receive cash
They usually complete the transaction within 30 days. Some claim that if they pay cash or wholesale and transfer their contract with you to another outside investor, they can close faster.
Why go for We Buy Ugly Houses?
We Buy Ugly Houses specializes in distressed property purchases. Except for mobile homes, they can make an offer on almost any home in any condition. However, they specialize in older properties that need remodeling and extensive repairs.
The concept is that you may sell your home quickly, regardless of its state, without having to clean or fix it. If you need to sell quickly and face foreclosure but have a lot of equity in your property, this could be useful.
Pros of We Buy Ugly Houses
We Buy Ugly Houses is a well-known and trustworthy brand. Local realtors, Real estate professionals, brokers, investors, and others are part of their network. As it is a legit firm, dealing with a legal, We Buy Ugly Houses franchise ensures an authentic and hassle-free home sale.
You can sell your house as-is, regardless of its condition.
No Commission Fees
You bypass the traditional route of selling your home through an agent and paying significant commissions by selling to a cash buyer. You get a good cash offer in exchange for your distressed property and don’t have to pay any commission fees.
Close the deal quickly
We Buy Ugly Houses can make maximum cash bids for your house as they are not required to go through the mortgage application procedure. They are also exempt from performing an inspection or appraisal. In as little as a week, you can establish a closing date for your house.
Cons of We Buy Ugly Houses
We Buy Ugly Houses makes offers that are often significantly below the real market value, with the primary goal of fixing and reselling the home. Most sellers are in difficulty, and they seek the person who will offer them a deal.
Although selling to a cash buyer is more convenient as it allows you to close quickly, a cash offer often leaves little room for bargaining. After studying the home’s resale price, they’ll make a sensible “take or leave it” decision.
We Buy Ugly Houses Reviews
We Buy Ugly Houses Reviews suggest that they have a higher reputation than other cash-only home buying organizations. The ability to close in quickly (three weeks) has piqued the interest of desperate buyers in need of a quick sale.
We Buy Houses has received more positive feedback, likely owing to their thorough vetting procedure. Rather than partnering with just anyone, their backers have a license to utilize the brand name.
They do not participate in the offer process, but they will remove an investor’s license if they are not acting ethically. Expect to bargain for a better deal even though this organization works quickly, providing you with an offer within 48 hours and letting you close in as short as 7 days.
Other Alternatives to We Buy Ugly Houses
We Buy Ugly Houses can be a realistic choice if you want to sell a property fast and painlessly and aren’t concerned with making the maximum money possible from the sale. However, due to the market it serves, fraudulency may happen. Other options are as follows:
A Real estate agent
With a traditional 3% real estate agent, homeowners who sell the traditional method nearly always make more money.
FSBO (For Sale By Owner)
The homeowner is responsible for all marketing and negotiating for sale by owner (FSBO) transactions. Houzeo is a top website that enables homeowners to sell their homes on their terms. You can read Houzeo Reviews for flat fee services.
Another type of company that buys properties for cash is buyers. These companies make rapid house offers and can close quickly. Although iBuyers do not pay market value for homes, their offers are likely to be more reasonable than those made by We Buy Ugly Houses.
Even if you’re in a hurry, spending a few minutes comparing reliable cash buyers could help you earn extra cash. A great real estate agent can provide even more possibilities to sellers. They can teach you about the genuine value of your home, even if it’s in bad shape. You might be amazed at how little work is required to sell it for a higher price than a cash buyer would offer.