From Miami to Orlando, Florida’s housing market is experiencing a major shift. Home buyer demand has fallen sharply, and interest rates have reached record highs.
But even in this market, the popularity of cash home buyers in Florida is increasing. With expensive mortgages, home buyers with cash have a leg up on buyers looking to get a mortgage.
For home sellers, companies that buy houses for cash in Florida are much more attractive than buyers with financing. Cash buyers offer certainty of sale, often eliminating home inspections and the hassle of lender approvals.
Cash buyers in Florida also make instant offers, allowing you to close at your convenience with flexible closings.
🚀 The Rise of All Cash Offers
- Cash is King: 31.2% of Americans sold their homes for cash in December 2022, compared to 25.3% in all of 2020. This number is expected to rise in 2023 as financing becomes more expensive.
- iBuyers are Not a Viable Option: iBuyers have either shut down or have suffered massive losses. Our analysis suggests that iBuyers will offer much less than Fair Market Value (FMV) for your home in 2023 and 2024.
- Who Will Buy My House for Cash in Florida: A cash marketplace like Houzeo.com is a great option to get multiple cash offers for your property. We Buy Houses and Florida Cash Home Buyers are also good options.
Not all companies that buy houses for cash are the same. Some companies can get you 100% of your property’s fair market value, while others may offer as low as 50%.
We’ve ranked the best cash home buyers in Florida so you can sell your house fast for cash.
Reviews: 7 Best Companies That Buy Houses for Cash in Florida
1. Houzeo.com: America’s Most Advanced Cash Buyer Marketplace
Max Exposure to Cash Buyers
Houzeo is the best option if you’re looking for multiple cash offers. Your MLS listing will be exposed to local and national cash buyers. In an attempt to win your property, investors could make multiple cash offers for your home.
- Service Fee – $349: Houzeo does not charge a 5% service fee or any undisclosed closing fee.
- Typical Offer: Up to 100% of your property’s fair market value (FMV)
- Eligible Properties: On Houzeo Marketplace, you can market properties in any condition and sell your house as is.
- Closing Offer Terms: You can specify your preferred closing date and the closing offer terms.
👉 Our Take: For sellers looking to maximize their cash offers, we recommend Houzeo’s Gold plan. You will have access to Houzeo’s advanced features to negotiate the best terms for your cash offer.
» Houzeo Reviews: Learn why Houzeo is America’s Real Estate Super App
Houzeo is a real estate marketplace and America’s #1 Flat Fee MLS service because of 4 reasons:
- Max Exposure: Houzeo MLS packages give you access to the MLS and 100s of websites like Zillow, Trulia, Realtor.com, Redfin, etc.
- 5-Star Customer Service: Houzeo has a fully staffed customer service desk available 6 days a week. Chats and emails are open 7 days a week.
- 100% Online: Houzeo is high-tech. For you, this means easy listing, fast changes, online showings, and online offers. Houzeo Mobile App is also very powerful.
- No Listing Commission: In most states, you’ll be paying just a small flat fee to list on MLS. Houzeo covers 47 states + DC! And remember, all fees are disclosed upfront, so there are no Houzeo hidden fees. You get to bypass the listing agent commission!
There are no dealbreakers with Houzeo. Check out the blog on Houzeo pros and cons.
» Houzeo Reviews: Houzeo is rated “Excellent” with a 4.9 out of 5-star rating by 4,523 home sellers on Google and Trustpilot!
Houzeo is rated 4.9 out of 5 stars by thousands of home sellers on Google & Trustpilot.
With a typical cash buyer, you only get an offer from that specific cash house buyer. Because there is no competition, that typical cash buyer will only offer 30% to 70% of your property’s value.
Houzeo is America’s most advanced real estate marketplace. If you list on the Houzeo marketplace, your listing gets exposed to Florida home buyers and national cash buyers via the MLS.
This increased competition for cash offers for your house will ensure you get up to 100% of your property’s value.
» Florida Flat Fee MLS: List your home for a flat fee and attract FL house cash buyers!
Opendoor is the country’s biggest iBuyer. They offer fast cash for homes with flexible closing timelines.
- Service Fee: 5% of Home Sale Price.
- Typical Offer: 70% to 80% of your property’s fair market value (FMV)
- Eligible Properties: Opendoor will make cash offers only on owner-occupied properties built post-1930 with a maximum lot size of 1.5 to 2 acres. Prefabricated homes, inherited properties, or homes with tenants do not qualify for Opendoor’s cash offer.
- Closing Offer Terms: Opendoor lets you close at your pace, up to 45 days out. The final offer terms may change after the home inspection.
» Opendoor Reviews: Why Opendoor will Pay Much Less than Fair Market Value in 2023?
- Wide Coverage: Opendoor pays cash for houses in 51 markets– Boston, Albuquerque, Cincinnati, Indianapolis, Birmingham, Miami, San Francisco, San Jose, etc.
- Flexible Closing Dates: Opendoor gives you the ability to close at your convenience up to 45 days out.
- Late Checkout Upto 14 Days: Opendoor allows sellers to close on their homes, receive sale proceeds, and temporarily rent their homes.
- No Cancellation Fees: You can cancel the contract without any cancellation fee.
- No Upfront Costs: When you sell to Opendoor, you skip the traditional home selling process. No need to fix, repair or stage the property!
» Opendoor complaints: Click here to learn about the pros and cons of them.
In our research, we came across some deal breakers with Opendoor.
- Lowball Cash Offer: Opendoor’s final cash offer may be below the property’s fair market value, around 70%. They also deduct repair and closing costs.
- Hefty Service Fees: Opendoor revises the final cash offer based on the inspection report. The service fees can go from 5% to 14%. This is significantly higher compared to the 6% realtor commission.
- Opendoor May Back Out of the Deal: Some homeowners have had a bad experience with Opendoor. Opendoor backed out of the cash deal at the last minute, leaving the homeowner stranded.
- Undisclosed Repair Cost Breakdown: The difference between Opendoor’s preliminary offer vs. final offer can be humongous. In many cases, sellers were forced to pay for unnecessary “repairs.”
- Strict Eligibility Criteria: Opendoor doesn’t pay cash for inherited properties, homes with tenants, pre-fabricated or mobile homes, and properties located in a flood zone.
» Opendoor Complaints: Check out the common complaints of Opendoor.
Opendoor has a rating of 4.4 out of 5 stars on Reviews.io.
» Opendoor.com Review: Does Opendoor pay the market value of your property?
Opendoor offers a simple, convenient platform to request cash for your home. However, Opendoor’s service fees can be as high as 14% of your home’s sale price. The repair cost breakdown is not disclosed in the closing statement.
In 2023’s slow real estate market, Opendoor may not be the best option to sell your home. Their offer will be below the fair market value of your property.
» Offerpad vs. Opendoor: Compare the two iBuyers before requesting a cash offer on your house.
Offerpad has the fastest closing among iBuyers. Based on housing market trends, their patented evaluation tool will generate an initial offer for your home.
They also have a “List on MLS” package where an Offerpad representative will list your property on the open market.
- Service Fee: 6% of Home Sale Price
- Typical Offer: 70% to 80% of Fair Market Value (FMV)
- Eligible Properties: Offerpad offers cash for houses built after 1960, with a maximum lot size of 1 acre and a max valuation of up to 1M. Homes with significant foundational issues or rundown properties are not eligible. Check this out to know more about offerpad criteria.
- Closing Offer Terms: When you sell to Offerpad, you can close as early as 7 days. The initial offer terms may change after the inspection of your house.
» Offerpad Reviews: Is the Fast Closing Schedule Worth the Tradeoff?
- Lightning Fast Closing: With Offerpad’s cash-for-house offer, you can close your property in seven days.
- No Need to Fix the Property: When you sell your house for cash, you don’t incur upfront costs to fix, prepare or stage the house.
- Extended Checkout: Long-term stay option for house sellers who want to push their closing date after acceptance.
- Broad Coverage: Offerpad buys houses for cash in 27 markets- Birmingham, Phoenix, Denver, Fort Collins, Fort Myers, Jacksonville, Atlanta, Kansas City, etc.
» What is Offerpad? Check this out to know more about them.
In our research, we found some issues associated with Offerpad Real Estate.
- Lowball Cash Offer: Offerpad’s cash offer is below market value, typically around 60% to 80% of the fair market value.
- High Service Fees: The Offerpad cash offer is readjusted based on repairs identified by the home inspector. The service fees can go up to 13% of the home sale price.
- Offerpad Cancellation Fee – 1%: If you are only 4 days out of your closing date and you decide not to accept Offerpad’s cash offer, Offerpad charges a cancellation fee of 1% of the home sale price.
- Inflated Repair Costs: Offerpad’s final cash offer is calculated after deducting home repair and seller closing costs. The difference between Offerpad’s initial offer and the final offer is huge.
» Offerpad Review: Read the in-depth review of Offerpad.
Offerpad has a 4.6 out of 5 stars rating on TrustPilot.
» Offerpad Review: Check out customer reviews of Offerpad.
Offerpad’s closing process is faster than other “cash for houses” companies. So, you should request a cash offer from Offerpad if you want to sell your house quickly.
However, the difference between Offerpad’s initial and final cash offers is quite high. Once, a home seller was offered $189,000 but received a lowball offer of $149,000 after Offerpad’s home inspection.
» What Does a Home Inspector Do: Here’s what a home inspector looks at in a property inspection.
4. Florida Cash Home Buyers
LOCAL WE BUY HOMES
Florida Cash Home Buyers
Florida Cash Home Buyers buy FL properties as-is, so you don’t have to worry about repairing your bad roof or faulty wiring.
Omer Reiner and Gabriel Garcia founded Florida Cash Home Buyers and have been helping Florida home sellers get rid of unwanted properties since 2011.
- Service Fee: None
- Typical Offer: 50% to 70% of Fair Market Value (FMV)
- Types of Properties Purchased: All types of distressed properties with structural issues, bad mortgage financing, inherited houses, homes facing foreclosure, problematic tenants, etc.
- Closing Offer Terms: Florida Cash Home Buyers offers flexible closing.
👉 Our Take: Florida Cash Home Buyers is a great local “We Buy Houses Florida” company to sell your distressed property fast.
- Fast Cash Offers: Florida Cash Home Buyers makes free, no-obligation cash offers within two days. Past sellers have also received an offer within hours of submitting the property details.
- Flexible Closing: You can get rid of unwanted properties within 7 to 30 days after you accept Florida Cash Home Buyers Com’s cash offer.
- Statewide Coverage: Florida Cash Home Buyers covers all areas of Florida- Miami, Fort Lauderdale, Palm Beach, Orlando, Jacksonville, and Tampa.
- Late Checkout Up To 3 Weeks: You can continue occupying the house for up to 3 weeks free of cost. Post three weeks; you will be charged the prevalent market rent.
- Zero Upfront Expenses: When selling to Florida Cash Home Buyers Com, you don’t need to prep the home or worry about repairs.
- You Can Sell Inherited Properties: FloridaCashHomeBuyers.com work with a dedicated probate attorney and pays the probate fees when they buy your inherited house.
» Selling Inherited Property in Florida: Check out our guide to sell your family home for cash
We came across the following red flags associated with Florida Cash Home Buyers:
- Non-Negotiable Cash Offers: Florida Cash Home Buyers may not offer more than 70% of your property’s fair market value. Even if your property isn’t distressed, they will rarely budge on the offer price.
- Lowball Cash Offers: This Florida house cash buyer may put in lowball cash offers of around 50% to 70% of the fair market value. This is lower than what you can get on the open market.
- FloridaCashHomeBuyers.com is Not 100% Online: Florida Cash Home Buyers has a limited tech stack. This means a lot of processes, like requesting a counteroffer or updating the terms/conditions of the cash offer, will be offline and manual. Florida Cash Home Buyers does not offer a mobile app.
Florida Cash Home Buyers has 4.7 stars out of 5 on Google.
Florida Cash Home Buyers is a local “We Buy Houses in Florida” company that offers cash for distressed properties. You don’t have to do a fresh paint job or mow the lawn when you request cash from this Florida house buyer; they buy homes as-is.
This cash buyer specializes in buying inherited properties and also pays the probate in most cases. They also buy homes facing foreclosure in Florida, homes with bad tenants, and damaged houses.
In addition to buying homes as-is for cash, this FL cash home buyer also assists sellers in relocating and finding a new home.
5. We Buy Houses, Florida
We Buy Houses
WeBuyHouses.com is a pre-vetted real estate investor network. We Buy Houses “thoroughly” vet their investors before authorizing them to operate independent offices in their respective jurisdictions.
- Service Fee: None
- Typical Offer: 50% to 70% of Fair Market Value (FMV)
- Eligible Properties: Distressed properties with structural issues, relocation of the homeowner, couples going through a divorce, a death in the family, flawed mortgage financing, inherited homes, high-crime neighborhoods, etc.
- Closing Offer Terms: We Buy Houses provides a flexible closing date, up to 60 days out. Offer terms are inflexible.
👉 Our Take: We Buy Houses operates on a franchise model, so the quality of service may differ. You should check the reviews of the local franchise before requesting cash for your home.
» We Buy Houses Reviews: Everything you need to know about WeBuyHouses.com.
- Fast Cash Offers for Houses: You will typically receive WeBuyHouses.com’s initial cash offer within two days.
- Zero Service Fees: WeBuyHouses doesn’t charge any service fee in exchange for the convenience of selling your home for cash
- Fast Closing: We Buy Houses.com will close in just seven days after you accept their cash offer.
- Firm Cash Offer: We Buy Houses Com’s cash offer is usually in line with the preliminary cash offer unless the inspector identifies major flaws during the home inspection.
- Broad Coverage: We Buy Houses makes cash offers on properties in 200 markets in over 30 states. WeBuyHouses com has 2,700 offices nationwide.
- Zero Upfront Expenses: When selling to WeBuyHouses Com, you don’t need to prep the home or worry about repairs.
» What is we buy houses? To know more about them check this out.
In our research, we came across some dealbreakers with We Buy Houses.
- Lowball Cash Offer: We Buy Houses investors may put in lowball cash offers around 50% to 70% of the fair market value. This is lower than what you can get on the open market.
- WeBuyHouses.com is Not 100% Online: WeBuyHouses has a limited tech stack. This means a lot of processes, like requesting a counteroffer or managing inspections, will be offline and manual. We Buy Houses does not offer a mobile app.
- Non-Negotiable Cash Offers: A ‘We Buy Houses’ investor may not offer more than 70% of your property’s fair market value. Even if your property isn’t distressed, they will rarely budge on the offer price.
- Inconsistent Quality of Service: When you sell to a cash buyer franchise like WBH, you sell your house to a local real estate investor. The service quality will differ based on the independent investor you are dealing with.
» WeBuyHouses.com Reviews: Learn how WeBuyHouses.com works.
We Buy Houses has zero customer reviews on popular review sites like Google or Trustpilot.
» webuyhouses.com reviews: Check this out to know more about them.
WeBuyHouses.com is a private, pre-vetted network of real estate investors. We Buy Houses’ investors will buy properties as-is for cash.
If your property is inhabitable and only needs some cosmetic repairs, you should consider making repairs. Nationwide investors scour the MLS for fix-and-flip homes, so you might get a competitive cash offer.
» Flat Fee MLS Florida Listing Services: Find the best local FL flat fee service to list your home on the MLS.
6. House Heroes, Florida
TRUSTED CASH BUYER FL
House Heroes is a local cash buyer in Florida known for making fair cash offers on houses. Past sellers appreciate Lucas’s attention to detail and responsiveness in selling their homes quickly.
- Service Fee: None
- Typical Offer: 50% to 70% of Fair Market Value (FMV)
- Eligible Properties: All types of distressed properties like homes with foundation issues, properties with bad mortgages or homes facing foreclosure, inherited properties, damaged houses, etc.
- Closing Offer Terms: House Heroes closes on properties within 7 days typically. They offer flexible closing timelines.
👉 Our Take: House Heroes is a great choice for sellers who don’t mind leaving some cash on the table to sell their Florida home AS-IS.
- Free Cash Offer Florida: House Heroes makes free cash offers within 2 days. Some homeowners claimed they got an initial offer within hours.
- Flexible Closing: You can sell properties within 7 to 45 days after you accept House Heroes’ cash offer.
- Local Coverage: House Heroes purchases homes for cash in 11 counties across Florida. They also buy properties in New Jersey, California, and Massachusetts.
- Zero Upfront Expenses: When selling to House Heroes, you don’t need to invest in home improvements or renovations. You can request a cash offer for the property in its existing condition.
We came across the following red flags associated with House Heroes, Florida:
- Non-Negotiable Cash Offers: House Heroes may not offer more than 70% of your property’s fair market value. Even if your property is pristine, they will not increase the cash offer.
- Lowball Cash Offers: This “We Buy Homes Florida” cash buyer may put in lowball cash offers of around 50% to 70% of the fair market value. If your property only needs cosmetic repairs, we recommend you list on MLS by owner and sell for top dollar!
- HouseHeroes.com is Not 100% Online: Househeroes.com has a limited tech stack. This means a lot of processes, like requesting a counteroffer or updating the cash offer terms, will be offline and manual. Houses Heroes does not offer a mobile app.
House Heroes has 4.9 stars out of 5 on Google, with 53 reviews.
House Heroes is a reputable local cash buyer in Florida. Lucas and his team help distressed homeowners sell their homes quickly. They make no-obligation cash offers on Florida homes within hours of submitting the property details.
Whether it’s your sister’s condo or you have bad tenants that are not paying, House Heroes comes through with their fair cash offers. They may not pay more than 70% of the property’s fair market value though.
» What is Fair Market Value of a House: Find out why fair market value of a property is important.
7. We Buy Ugly Houses
We Buy Ugly Houses
We Buy Ugly Houses is a 20-year-old cash home buyer franchise. Independent real estate investors own and run each franchisee office. The parent company trains the franchisee but doesn’t micromanage their cash home-buying preferences. The brand, We Buy Ugly Houses is owned by HomeVestors.
- Service Fee: None
- Typical Offer: 50% to 70% of Fair Market Value (FMV)
- Eligible Properties: Ugly homes with structural issues, couples going through a divorce, a death in the family, bad mortgage financing, inherited houses, high-crime neighborhoods, etc.
- Closing Offer Terms: WeBuyUglyHouses provides a flexible closing date, up to 30 days out. Offer terms are subject to change based on the local franchisee office.
👉 Our Take: We Buy Ugly Houses is best for sellers who want to unload their distressed houses quickly. You shouldn’t expect more than 70% of your property’s market value.
» We Buy Ugly Houses Reviews: Everything you need to know about these home cash buyers.
- Fast Cash Offers for Homes: WeBuyUglyHouses.com will share a preliminary cash offer for your property in 24 to 48 business hours.
- Zero Service Fees: WeBuy Ugly Houses doesn’t charge any service fee in exchange for the convenience of selling your home for cash.
- Fast Closing: We Buy Ugly Houses.com will close in just seven days after you accept their cash offer.
- Firm Cash Offer: We Buy Ugly House’s cash offer is usually in line with the preliminary cash offer unless the inspector identifies major flaws during the home inspection.
- Wide Coverage: We Buy Ugly Houses offers cash for homes in 1,100 locations across 45 states.
- No Upfront Costs: When selling to WeBuyUglyHouses Com, you don’t have to fix your leaking roof or the mold residing in your walls.
» We Buy Ugly Houses Review: How does WeBuyUglyHouses.com calculate your cash offer?
In our research, we found some issues associated with We Buy Ugly Houses.
- Lowball Cash Offer: We Buy Ugly Houses pays less than what sellers could get on the open market. The cash offer is around 50% to 70% of the property’s fair market value.
- WeBuyUgly Houses.com is Not 100% Online: We Buy Ugly has a limited tech stack. This means a lot of processes, like requesting a counteroffer or managing inspections, will be offline and manual. They don’t even have a mobile app.
- Non-Negotiable Cash Offers: We Buy Ugly Houses will not offer more than 70% of your property’s fair market value. They rarely increase the price quoted in the initial cash offer.
- Inconsistent Quality of Service: When you work with house buyers like WeBuy UglyHouses, you sell your house to a local real estate investor. The service quality will differ based on the independent investor you are dealing with.
» Reviews of We Buy Ugly Houses: Check WeBuyUglyHouses reviews before requesting a cash offer for your condo.
We Buy Ugly Houses has 2 out of 5 stars with 6 reviews on Yelp.
» We Buy Ugly Houses Complaints: Check what customers say about WeBuyUglyHouses.com.
We Buy Ugly Houses, a trademark of “HomeVestors”, operates on a franchisee model. Local investors or those flipping houses in the U.S. are the owners of these franchises. They buy Florida houses for cash as-is.
Each WeBuyUglyHouses franchisee has its own rules, so the cash offer terms and service quality may not be consistent.
» Selling a Home As Is in Florida: Check out our guide for selling your Florida house as-is.
iBuyers That No Longer Offer Cash for Florida Homes
- Zillow Offers: Zillow, the biggest real estate marketplace, started its iBuying arm in 2018. After losing $881M while over-paying cash for properties, in November 2021, Zillow stopped buying houses. Check out the story of the fall of Zillow Offers.
- RedfinNow: Redfin, the biggest discount real estate broker in the U.S., entered the home-flipping business with RedfinNow in 2017. In November 2022, RedfinNow shut down due to increasing operating costs.
Are Companies That Buy Houses for Cash in Florida Legit?
Yes, companies that buy houses for cash in Florida or cash house buyers are legitimate and operate legally nationwide.
🚨 Cash for Houses Scams: Remember to inspect how the cash company operates before you sign any real estate contract. A legitimate home buyer will never ask you to pay cash!
Types of Cash Home Buyers
Companies that buy homes for cash in Florida help home sellers skip the hassle of listing on the MLS, marketing, home staging, etc. The four types of cash home buyers are:
- “We Buy Houses for Cash” Companies: The “fix-and-flip” house cash buyers that buy distressed properties, make repairs, and sell on the open market. Florida home buyers pay 30% to 70% of the home’s fair market value and don’t have any service fees or closing costs.
- iBuyers: Home-buying companies that use proprietary algorithms and determine a cash offer for your house. In 2023, iBuyers in Florida will offer ~70% to 80% of the fair market value.
- Buy-and-Hold Cash Buyers: A buy-and-hold cash buyer in Florida will convert a distressed house into a rental property. They do not sell the upgraded property for a one-time profit and will enjoy a steady source of income.
- Home Trade-In Services: A home trade-in company will offer cash on your house to help you buy another property. They fund your next house while you sell the one you’re living in.
- 🏚️ Selling a Home in Poor Condition in Florida: We recommend “We Buy Houses for Cash” companies if your property is in bad shape. If the property only needs cosmetic repairs, you should list your home on Florida MLS. You can get up to 100% of the fair market value on the open market!
Top “We Buy Houses in Florida” Companies Near You
|1. Fort Lauderdale, FL||We Buy Houses for Cash in Fort Lauderdale, FL|
|2. Miami, FL||We Buy Houses for Cash in Miami, FL|
|3. Orlando, FL||We Buy Houses for Cash in Orlando, FL|
|4. Tampa, FL||We Buy Houses for Cash in Tampa, FL|
|5. West Palm Beach, FL||We Buy Houses for Cash in West Palm Beach, FL|
|6. Sarasota, FL||We Buy Houses for Cash in Sarasota, FL|
|7. Pensacola, FL||We Buy Houses for Cash in Pensacola, FL|
|8. Panama City, FL||We Buy Houses for Cash in Panama City, FL|
|9. Fort Myers, FL||We Buy Houses for Cash in Fort Myers, FL|
|10. St Augustine, FL||We Buy Houses for Cash in St Augustine, FL|
How Do Companies That Buy Houses for Cash Work?
“We buy houses for cash” companies buy Florida houses “as-is” at much lower than the market value. They mostly work offline. Let’s look at the steps involved when you sell your house to a “We Buy Houses for Cash” company:
- Share Your Property Details: Cash buyer companies in FL will collect basic information like the location and condition of your property. You can share this via phone or their website.
- Review the Preliminary Cash Offer: The “cash for homes” Florida company will make an offer after comparing similar properties in the area. Typically it is 30% to 70% of the home’s fair market value.
- Complete a Home Inspection: Florida Home Inspectors will perform an inspection if you accept the initial offer. After adjusting repair expenses and holding costs, the cash house-buying company will send a final offer.
- Accept the Final Cash Offer & Close: If the Florida home cash buyer’s final cash offer matches your expectations, then you can finalize the closing timeline.
» Sell My Florida House Fast: Check out 5 ways to sell your Florida house fast in 2023.
How Much Do Florida “We Buy Houses Cash” Companies Pay?
Companies that pay cash for houses in Florida use the 70% ARV rule.
Suppose your home is worth $300,000, and you have a defective roof that will cost $25,000 in repairs. So, you can expect a cash offer of about $185,000.
The 70% ARV Rule: Florida house buyers will never pay more than 70% of the property’s fair market value. They have to repair and renovate the acquired homes. The overhead expenses are deducted from your home sale proceeds.
» How Much are Closing Costs for Seller in Florida: Find home sale proceeds from selling your house in Florida.
“We Buy Houses for Cash” Florida: Pros and Cons
The biggest benefit of Florida cash buyers is their speed and convenience. Selling a house for cash will almost always net you 10% to 30% less than a financed offer though. Let’s look at the pros and cons of selling a home to a cash home buyer:
- Fast Cash Sale: In the traditional model, you have to list on the MLS and wait for potential buyers. However, with “We Buy Houses for Cash” companies, you get a cash offer within 24-48 hours of submitting details on their website.
- Flexible Closing: “We Buy Houses Cash Florida” companies move faster than traditional buyers. Home sellers can close on their timeline and need not wait for listing paperwork or mortgage pre-approvals!
- No Service Fees: “Cash for homes” companies don’t charge any service fees. The net profit after fixing and selling your home is enough for them to sustain their fix-and-flip model.
- No Upfront Costs: To earn maximum cash, home sellers invest in real estate photography and staging before listing on the MLS. FL cash home buyers purchase homes as-is, so you can skip marketing or repair costs.
- Lowball Cash Offers: Companies that buy homes in Florida generally pay 50% to 70% of the home’s fair market value, deducting all repair, utility, and re-selling expenses. Although there may be room for negotiations, you can’t expect more than 70% of the market value of your home.
- Non-Negotiable Deals: When dealing with “cash for houses” companies, the deal is usually take-it-or-leave-it. You can try to negotiate if the company overlooked something important, but most cash companies will not budge on price.
- Some Cash Buyers Will Make You Pay Closing Costs: Homeowners are forced to pay the seller’s closing costs, and it’s not disclosed on the cash buyer’s site. You should always read the terms and conditions document carefully.
» Estimate Seller Closing Costs Florida: Breakdown of closing costs you incur as an FL home seller.
Alternatives to Companies That Buy Houses for Cash in Florida
- List Your Home With a Flat Fee MLS Service: With a Flat Fee MLS service, you can get up to 100% of the fair market value on the open market. High-tech For Sale By Owner websites like Houzeo will list your home on the local MLS within 24-48 hours and help you sell fast! 22% of homes listed on MLS sold above their final list price in February 2023.
- Hire a Top Realtor: Florida Realtors have the expertise to help you sell your property fast within a set timeline. However, the best realtors will charge a 6% commission. That amounts to thousands of dollars in realtor commission! It’s the worst option if you want to earn maximum cash.
- Sell “For Sale By Owner”: Selling your home purely For Sale By Owner implies no access to the MLS. You market your property, conduct market research, manage offers and showings, etc., all by yourself.
» For Sale By Owner Websites in Florida: Check out the best FSBO sites in the Sunshine State.
Frequently Asked Questions about Cash Buyers Florida
1. What is the best company that buys houses for cash in Florida?
Houzeo is the most popular platform for sellers looking for companies offering cash for homes in Florida. Not a cash buyer themselves, Houzeo.com lets you access the power of the MLS for a small flat fee, giving you exposure to cash home buyers. iBuyers, including Opendoor, have also made offers on properties listed on Houzeo.com.
» How Much Does it Cost to List on MLS: Read to Know Why MLS Listings are Worth the Cost.
2. Do We Buy Houses companies in Florida make fair offers?
Yes! iBuyers will offer up to 100% of the fair market value of your property. Local “we buy houses in Florida" companies will typically offer less than 50% to 70% of the fair market value. Listing your home on a marketplace, like Houzeo.com, will get you exposure to iBuyers and local investors. This significantly increases your chances of maximizing your cash offer.
3. How can I sell my house fast for cash in Florida?
Opt for a cash buyer marketplace. “We buy houses for cash” companies in Florida are best for distressed homes. They will offer 50% to 70% of the fair market value. An iBuyer will have strict purchase criteria and may not offer more than 70% to 80% of FMV. Marketplaces like Houzeo let you expose your property to nationwide cash buyers and iBuyers simultaneously. This exposure increases the chances of selling your home fast for cash.