10 min read Aug 22, 2024

7 Best Companies That Buy Houses for Cash In Salt Lake City, UT in 2024

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Edited By

Carol Coutinho

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Editor
Edited By

Carol Coutinho

Editor, Houzeo
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Carol C. is a versatile editor, expertly refining real estate content with precision and creativity. When not exploring market trends, she is immersed in the enthralling world of the theatre.

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✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.

Salt Lake City’s real estate landscape is in transition. While home prices remain high, overall sales are low. Only one aspect remains constant: the power of cash offers. 34.5% of homes were bought with cash in February, mostly in Salt Lake City.

This indicates a growing trend of cash home sales in Salt Lake City. But here’s the catch: cash buyers often come with “lowball” offers.

Consider a different approach to maximize your home’s value and achieve a quick sale. Opt for a cash buyer marketplace. You could get offers from multiple local and national cash home buyers, possibly driving up your home sale price.

Reviews: 7 Best Cash House Buyers in Salt Lake City

Here are the 7 best companies that make cash offers for homes in Salt Lake City. Some may get you up to 100% of your property’s fair market value, while others may offer you as low as 30% cash for your house.

1. Houzeo.com: Salt Lake City’s #1 Cash Home Buyer Marketplace

Max Exposure to Cash Buyers

Houzeo
Houzeo Logo
  • Listing Fee: $399
  • Available in 80+ U.S. Markets
  • 5 Stars 4.9/5 (10,020+ reviews)

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, increasing the number of offers you receive.

  • Fee: Houzeo does not charge any undisclosed closing fee.
    • $399 + $350 at Close: 6-month MLS listing, 24 photos
    • $399+0.5% at Close: Maximum photos, premium yard sign
    • $429+0.5% at Close: Pricing assistance, contract review, seller disclosures, licensed broker assistance
    • $449+1% at Close: Virtual full-service with licensed broker, offer negotiations
  • Typical Offer: Up to 100% of your property’s Fair Market Value.
  • Eligible Properties: On Houzeo Marketplace, you can 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 can access Houzeo’s advanced features to negotiate the best terms for your cash offer.

» Houzeo Reviews: Find out why Houzeo is one of Florida’s best cash buyer marketplaces.

Houzeo is America’s #1 cash buyer marketplace because of 5 reasons:

  1. Max Exposure: Houzeo’s packages give you access to the MLS and 100s of websites like Zillow, Realtor.com, Redfin, etc.
  2. 5-Star Customer Service: Houzeo’s customer service desk is available 6 days a week. Chats and emails are open 7 days a week.
  3. 100% Online: Houzeo is high-tech. For you, this means easy listing, fast changes, online showings, and online offers.
  4. No Listing Commission: You’ll pay just a small flat fee to list on MLS. You get to bypass the 3% listing agent commission! All fees are disclosed upfront, so there are no Houzeo hidden fees.
  5. Home Value Estimator: Houzeo’s home value estimator can get you a quick and free estimate of your property’s market value in 30 seconds.

There are no dealbreakers with Houzeo.

» Houzeo Pros and Cons: Read the advantages and disadvantages of choosing Houzeo to sell your home for cash.

Houzeo is rated 4.9 out of 5 stars by thousands of home sellers on Google & Trustpilot.

Houzeo is the best option for getting the most value for your home. It is a marketplace for all types of home sellers – whether you’re looking for a quick sale, an as-is sale, or a cash offer. Houzeo also gives your home maximum exposure to house-buying companies and individual investors.

2. Opendoor

BIGGEST IBUYER

Opendoor
Opendoor Logo
  • Service Fee: 5%
  • 📍 Coverage: 45 markets
  • Opendoor has 4.4 stars out of 5 4.4/5 (out of 3,066 reviews)

Opendoor is the country’s biggest iBuyer. They offer fast cash for homes and flexible closing timelines. Opendoor makes competitive offers, but these are far less than your property can get on the open market.

  • Service Fee: 5% of Home Sale Price
  • Typical Offer: 70% to 100% of Fair Market Value (FMV)
  • Types of Properties Purchased: Opendoor offers cash for houses only in desirable neighborhoods. If your property needs minimal repairs, Opendoor is an option for you. Otherwise, you may not even receive a preliminary cash offer from Opendoor.
  • Closing Date & Offer Terms: Opendoor provides a flexible closings, with dates up to 45 days out. Opendoor’s offers are not flexible, and final terms may change after home inspection.
  • Limited Coverage: Opendoor only covers 51 markets.

🚩 You Should Know: For the ease of a fast cash offer and flexible closing, you may pay up to 13% of your home’s sale price in service fees. Opendoor’s final cash offer is calculated after deducting home repair costs and closing costs.

👉 Our Take: Opendoor could be the best company to sell your house fast if they purchase properties in your zip code. Remember—an MLS listing on Houzeo.com will automatically put you in front of Opendoor and other iBuyers for an instant cash offer.

» Opendoor Reviews: Everything you need to know about America’s biggest iBuyer

  • Excellent for experienced home sellers with desirable properties
  • The repair cost breakdown isn’t disclosed in the offer
  • Not suitable for first-timers or FSBO sellers
  • The sales process may feel rushed, and the home seller has negligible control over the sale
  • The difference between Opendoor’s preliminary offer vs. final offer can be humongous
  • Home sellers receive cash offers within 24-48 hours, only on the properties that are in Opendoor’s coverage.

Opendoor has an average rating of 4.4 out of 5 stars on Reviews.io.

» Opendoor Review: Is Opendoor the best cash home buyer in 2023?

👎 Limited Coverage: Opendoor offers cash for houses only in 51 markets, and some of the top markets are Boston, Albuquerque, Cincinnati, Indianapolis, Birmingham, Modesto & Stockton, Galveston, Miami, San Francisco, San Jose, etc.

👍 Rankings of Local Cash Buyers: In case Opendoor doesn’t cover your zip code, you can consider local companies that buy houses for cash:

Opendoor provides a straightforward and convenient solution for obtaining cash for your home. You can sell your home as is and close on the sale in just 2 weeks. You can expect to get around ~80% of your property’s fair market value.

However, their offer now could be much lower than your property’s FMV. Their service fee is also a steep 5% of your home’s sale price. The repair cost breakdown is not disclosed in the closing statement.

3. Utah House Buyers LLC

Local Cash home Buyer

Utah House Buyers LLC
Companies that buy homes for cash in Utah
  • Service Fee: None
  • 4.5stars  4.5/5 (out of 114 reviews)

Utah House Buyers LLC is a real estate investment company that specializes in buying houses as-is for cash. The company consists of licensed agents in the state but they don’t engage in listings or representing buyers and sellers.

  • Service Fee: None
  • Typical Offer: 50% to 70% of Fair Market Value (FMV)
  • Eligible Properties: They buy distressed properties 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: Utah House Buyers LLC takes anything between 7 – 30 days to close the deal.

👉Our Take: Utah House Buyers LLC is for home sellers looking to sell their homes in as-is condition. However, an MLS listing will put you in front of multiple buyers offers.

  • Instant Offers: With Utah House Buyers you get a free, no-obligation offer within 24 hours for damaged properties as well.
  • Flexible Closing: Closing dates can be finalized on the owner’s terms.
  • No Additional Costs: There are no service fees, no commissions, and they even pay the closing costs.
  • Sell As-Is: You save on repair costs as they offer all cash offers for houses as-is.
  • Non-Negotiable Offer: Utah House Buyers LLC will not offer more than 70% of your property’s fair market value. After a thorough home inspection, they quote an offer based on the after-repair value.
  • Eligibility Restrictions: Not all properties are qualified for their services. For example, damaged homes or those in undesirable locations may be excluded.

Utah House Buyers LLC has a rating of 4.5 out of 5 stars from 114 Reviews on Google Reviews.

» Utah House Buyers Reviews: Read our in-depth review on Utah House Buyers.

Utah House Buyers LLC is a local cash home buyer. They have sufficient experience and customer reviews. However, you will only get a lowball offer as compared to multiple offers you can get through an MLS listing.

4. Express Homebuyers

As-Is Cash Home Buyer Network

Express Homebuyers
express homebuyers logo
  • Service Fee: None
  • Express Homebuyers has 4.2 stars out of 5  4.4/5 (135+ reviews)

Express Homebuyers specializes in making all-cash offers on houses. It deals with a home seller who wants to sell their house fast without making any repairs.

  • Service Fee: Express Homebuyers do not charge any upfront fees.
  • Typical Offer: They make a cash offer for your home that ranges from 50% to 70% of its fair market value (FMV).
  • Eligible Properties: Express Homebuyers deal in inherited houses, home sales after divorce, foreclosure properties, selling rental properties, foreclosure, etc.
  • Closing Offer Terms: They can help you sell your home sale within a few days.

👉 Our Take: Express Homebuyers can be a great option to sell an extremely distressed property. However, if your house needs minimal repairs or no repairs, then you should consider listing on the MLS.

 

  • No Obligations Offers: You will receive a free estimate for your property, no matter how many major fixes it needs.
  • Near Nationwide Coverage: Express Homebuyers offers cash for houses in 20 states including major states like Florida, California, Texas, Washington, etc.
  • Flexible Closing Date: Closing dates can be finalized as per the home seller’s terms.
  • No Charges or Fees: Express Homebuyers do not charge you any fees. You will receive the full selling price based on the market research and house conditions.
  • Sell As-Is: You save on repair costs, and sell your house as-is.

» What is Express HomebuyersRead our in-depth analysis of Express Homebuyers.

  • Poor Customer Support: Previous clients have complained about their lack of communication and half-hearted responses.
  • Non-Negotiable Offer: Your house will receive a cash offer of not more than 70% of the property’s fair market value.

Express Homebuyers has a rating of 4.4 out of 5-star with 135+ reviews on Google Reviews.

» Express Homebuyers ReviewsIs there really no service fee?

Jud Allen and Brad Chandler founded Express Home Buyers in 2003. They are available in 27 states and DC.

Express Home Buyers has over 20 years of experience. However, as per the reviews, their poor customer support can delay your house sale.

» Sell Your House Fast for Cash: Check out other ways you can sell your house quickly.

5. House Cashin

CASH HOME BUYER

House Cashin
CCC - House Cashin Logo
  • Service Fees: None
  • Offers made in 24 hours
  • 5 Stars 4.7/5 (14 reviews)

House Cashin is an online platform that connects home sellers to credible real estate investors and other parties. You can receive multiple cash offers on your property within 24 hours.

  • Service Fee:  None
  • Typical Offer: 50% to 70% of Fair Market Value (FMV)
  • Eligible Properties: House Cashin accepts all types of distressed properties, including damaged houses, inherited properties, homes facing foreclosures, etc.
  • Closing Offer Terms: Once you accept an offer from an investor, they close within 7 days.

👉 Our Take: House Cashin is a company that connects homeowners with potential buyers. Since there are multiple offers, you can pick one at your convenience.

  • Competitive Cash Offers: House Cashin can provide up to 5 no-obligation all-cash offers on your property within 24 hours.
  • Nationwide Coverage: House Cashin offers its services in all 50 states and Washington D.C.
  • Zero Service Charges: No commissions or closing costs.
  • Selling As Is: You can save on repair costs and sell your house as is.
  • Inconsistent Quality of Service: The offers made on your property via House Cashin are by local real estate investors. The service quality will differ based on the independent investor you are dealing with.
  • Non-Negotiable Cash Offers: Although you receive multiple offers, no investor may 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.

House Cashin has 4.7 out of 5 stars on Google.

» House Cashin vs. HouzeoRead further to know why Houzeo is better than House Cashin.

House Cashin is an online platform that connects home sellers with real estate investors interested in buying property. They offer their services across all states. With a single request, you can receive up to 5 cash offers from reputable real estate investors in 24 hours.

Once you choose from the proposed offers, the investor will close on your property within 3 to 30 days.

6. We Buy Houses

QUICK AND EASY SALES

We Buy Houses
Logo - We Buy Houses
  • Service Fee: None
  • Closing in 3 weeks
  •   1/5 ( 4 reviews)

We Buy Houses is a network of pre-vetted real estate investors. Each investor is thoroughly screened before being authorized to operate independently.

  • Service Fee: None
  • Typical Offer: 50% to 70% of the property’s fair market value.
  • Eligible Properties: Distressed properties with structural issues, homeowners facing relocation, flawed mortgage financing, inherited homes, or homes in high-crime neighborhoods.
  • Closing Offer Terms: We Buy Houses provides a flexible closing date, typically 7 to 14 days. The offer terms are not flexible.

👉 Our Take: We Buy Houses is an ideal option to sell your home quickly without the hassle of repairs. However, be prepared to settle for a lowball offer. 

  • Fast Cash Offers: You will typically receive the initial cash offer within 2 days.
  • Zero Service Fees: We Buy Houses doesn’t charge any service fee in exchange for the convenience of selling your home for cash.
  • Fast Closing: We Buy Houses can complete the entire home sale process in just 7 days after you accept their offer.
  • Zero Repair Costs: When selling to We Buy Houses, you don’t need to prep the house or worry about repairs.
  • Service Quality Varies: We Buy Houses operates on a franchise model. It means service quality can vary depending on the location.
  • Limited Scope for Negotiation: We Buy Houses extends “take-it-or-leave-it” offers. You can try to negotiate, but usually, they won’t budge.
  • Unsolicited Calls: Some reviews mention receiving unsolicited calls and texts from the company.

» We Buy Houses vs. Houzeo: Learn why Houzeo is better than “We Buy Houses”.

We Buy Houses has 1 star out of 5 on Better Business Bureau from only 4 customer reviews.

» We Buy Houses Reviews: Read this comprehensive review to learn more about the company.

WeBuyHouses.com is a group of real estate investors who buy properties as-is for a lucrative flip. They are a good option if you want to sell your home fast for cash and your property only needs some cosmetic repairs.

7. We Buy Ugly Houses

NATIONWIDE COVERAGE

We Buy Ugly Houses
We Buy Ugly Houses Logo
  • Service Fee: None
  • Closing in 3 weeks
  • 2.5 Stars  2.6/5 ( 5 reviews)

We Buy Ugly Houses is a well-known cash home-buying company that helps homeowners sell their houses fast. It offers a fast, hassle-free sale without the need for repairs or renovations.

  • Sell at $0 Commission: You can sell your home with a few photos and a basic property description without paying any agent commission.
  • No Closing Costs: You don’t have to pay any closing costs as the company pays them.
  • Typical Offer: 50% to 70% of your property’s fair market value.

👉 Our Take: We recommend We Buy Ugly Houses for a quick and hassle-free sale. You can negotiate the price for your home and close the deal without closing fees.

  • Sell Your Home As Is: You can save thousands in repair costs by selling your distressed home as is.
  • Cash Offer in Any Condition: You can get a cash offer, no matter what shape your home is in.
  • Quick Closing Timeline: Once you accept the offer, you can sell your house within 2 weeks.
  • Low Ball Offers: Cash offers are typically 50% to 70% of your home’s fair market value, depending on its condition and location of the house.
  • Limited Negotiation: You might have less room to negotiate the final offer.
  • Not Ideal for High-Value Homes: This option may not be best for homes in high-demand areas where you could get more by listing on the MLS.

We Buy Ugly Houses is rated 2.6 out of 5 stars on Yelp

» We Buy Ugly Houses Reviews: Read this in-depth review to learn more about them.

 

We Buy Ugly Houses, a trademark of “HomeVestors,” operates on a franchisee model. Each WeBuyUglyHouses franchisee has its own rules, so the cash offer terms and service quality may not be consistent. If your house needs dire repairs, they make cash offers starting from 30% of its FMV.

Are Companies That Buy Houses for Cash Legit in Salt Lake City?

Yes, companies that buy houses for cash in Salt Lake City are legitimate and operate legally nationwide. Local companies are generally a group of wealthy investors, while banks back national cash buyers.

“We Buy Houses for Cash” companies purchase properties to renovate and sell them for a profit. This process is often referred to as “flipping houses in Salt lake City“. They will make an offer if your property can be bought and sold for a profit.

🚨 Beware of Cash Home Buying Scams: Some “cash for houses” companies may cheat you out of your money. Reputable cash home buyers will never ask you to pay an upfront fee.

Types of Companies That Buy Homes in Salt Lake City

Companies that buy homes for cash in Salt Lake City help you skip the hassle of marketing, home staging, etc. There are 4 types of cash home buyers:

  • We Buy Houses for Cash Companies: The best home-buying companies specialize in purchasing distressed properties. They typically offer prices ranging from 30% to 70% of the fair market value (FMV) and aim to renovate the homes for resale.
  • iBuyers: They provide instant cash offers based on Comparative Market Analysis (CMA). While convenient, these offers often come in at 70% to 80% of the FMV.
  • Buy-and-Hold Investors: Unlike flippers, these buyers acquire properties to hold them as rental investments. Their offers may be more competitive compared to flippers or iBuyers. They may not be ready to buy your home as is.
  • Home Trade-In Services: These cash homebuyers give you cash before you move out to enable a smooth transition. These types of buyers are not easily found.

Companies that buy houses in Salt Lake City wait for potential gold (such as your home) to hit the market. When you sell your home for cash, an ‘as is’ property with minimal repairs nets UT cash home buyers big profits.

How to Sell Your Home for Cash in Salt Lake City?

Selling your home for cash can be a quick and convenient way to get the money you need. However, it’s essential to approach the cash-for-homes process with caution. Here’s a breakdown of the steps involved:

1. Evaluate Your Options:

Determine your timeline and your home’s condition. How quickly do you need to sell, and what repairs, if any, are necessary? This will help you set realistic expectations and a price based on comparable sales. You can also use a home-worth calculator.

2. Find Potential Buyers:

Research all companies buying houses for cash in Salt Lake City. Explore cash home buyers, including iBuyers, or consider selling your home independently through a Utah flat fee MLS listing.

3. Get Multiple Offers:

Get a cash offer from multiple companies that pay cash for houses and compare them carefully. Consider factors like price, closing timeline, and any additional fees. Negotiate the terms to maximize your return and fulfill your objectives.

4. Due Diligence:

Thoroughly research any potential buyer and read their reviews. Avoid companies without a proven track record. Carefully review all contract terms before you sign, and consult a Salt Lake City real estate attorney.

5. Close the Deal:

Once the offer meets your requirements, finalize the deal. Gather all the necessary paperwork for selling a house without a Realtor. Attend the closing meeting to complete the sale.

📢 Remember: Selling a home for cash can be a fast process, but it’s important to make informed decisions. Take time, research your options, and focus on your financial well-being.

How Much Do “We Buy Houses for Cash in Salt Lake City” Companies Pay?

Cash buyers for homes offer substantially lower prices, equivalent to 30% to 70% of the home’s After-Repair Value (ARV). The more repairs your home requires when selling a house for cash, the lower the price it would fetch.

After-Repair Value (ARV) = Property Purchase Price (PPP) + Cost of Repairs (COR)

So, if your home’s purchase cost is $400,000 and you spent $66,000 to fix it, the after-repair value will be $466,000.

#Cost BreakdownCost ($)
PPPProperty Purchase Price$400,000
CORCost of Repairs$66,000
– Roof Repairs $50,000
– Sewage Replacement $15,000
– Lawn Mowing Costs $1,000
ARVAfter-Repair Value$466,000

Salt Lake City cash home buyers offer only 70% of the ARV, so you can expect an offer of about $326,200.

Pros and Cons of Companies That Buy Houses for Cash in Salt Lake City

Here are some pros and cons you should consider before selling your house fast for cash:

✅ Pros of Salt Lake City Home Buyers

  • Fast Cash Sale: In the traditional model, you must list on the MLS and wait for potential buyers. However, with “We Buy Houses for Cash” companies, you can get a cash offer within 24-48 hours if you submit your details on their website.
  • Flexible Closing: Cash home buyers in Salt Lake City move faster than traditional buyers. Home sellers can close on their timeline and need not wait for listing paperwork.
  • No Service Fees: A Salt Lake City cash house buyer doesn’t charge any service fee. The net profit after they fix and sell your home is enough to sustain the fix-and-flip model.

❌ Cons of Salt Lake City Home Buyers

  • Lowball Cash Offers: Cash companies that buy homes in Salt Lake City pay 30% to 70% of the home’s fair market value. They deduct all repair, utility, and re-selling expenses of your home.
  • Non-Negotiable Deals: When dealing with “cash home buyer” companies, the offer is usually take-it-or-leave-it. You can try to negotiate if the company overlooked something important, but most cash buyers will not budge.
  • Some Cash Buyers Will Make You Pay Closing Costs: Homeowners are forced to pay the seller’s closing costs, which are not disclosed on the cash buyer’s website. You should always read the terms and conditions document carefully.
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Alternatives to Companies That Buy Houses for Cash in Salt Lake City

  • List Your Home With a Flat Fee MLS Service: You can get up to 100% cash for your home on the open market. Your property gets maximum visibility to cash buyers and investors on the Salt Lake City MLS.
  • Hire a Top Realtor: Salt Lake City Realtors can help you sell your property within a set timeline. However, the best Realtors will charge a 6% commission. That amounts to thousands of dollars!
  • Sell “For Sale By Owner”: Selling your home purely For Sale By Owner implies no access to the MLS. But, only high-tech For Sale By Owner websites in Utah like Houzeo can help you sell your home for cash on the MLS!

» How to Sell a House By Owner in Utah: Get to know how to make a profit when selling your home yourself.

Cash Home Buyers vs. MLS vs. Realtors

FeatureCash BuyerFlat Fee MLSRealtor
PriceOften 20% to 50% lowerClose to FMVClose to FMV
SpeedWithin 30-50 daysVariesVaries
FeesNo commission, potential closing costsFlat fee, closing costsCommission, closing costs
ConditionTypically as-isCan be sold as-isMay need repairs
ControlMinimal controlSome controlLess control

Should You Sell to Companies Buying Houses in Salt Lake City?

Yes, but only if you want to sell your home at the earliest or are okay with leaving money on the table. Don’t settle for an offer from the first company that buys houses for cash. Take a look at all the available offers from Salt Lake City home buyers.

To get these offers, list your home on Salt Lake City’s #1 cash buyer marketplace, Houzeo. Your listing will be active in less than 24 hours. Moreover, multiple cash buyers will ultimately drive up your final home price.

» Houzeo Reviews: See how Houzeo home sellers sell with Houzeo technology and MLS exposure.

Frequently Asked Questions About Salt Lake City Home Buyers

Which is the best company that buys houses for cash in Salt Lake City, UT?

Houzeo is the most popular cash marketplace for selling homes for cash in Salt Lake City. iBuyers like Opendoor and multiple cash buyers have extended offers on homes listed on Houzeo. You could receive multiple cash offers, increasing your home sale price.

How can you sell to companies that buy houses for cash?

You can sell directly to Salt Lake City cash buyers or list on the Utah MLS and receive multiple cash offers. When you sell to a cash buyer, you actively search for the best option. With an MLS listing, the best offer comes to you.

How can I sell my house fast for cash in Salt Lake City?

Opt for a cash buyer marketplace. “We Buy Houses for Cash” companies in Salt Lake City are best for distressed homes. They will offer 30% to 70% of the FMV. An iBuyer has strict purchase criteria and may not offer more than 70% to 80% of FMV.

How fast can I sell my Salt Lake City house?

You can sell your house in 7 to 30 days when selling to cash buyers in Salt Lake City. Also, if you're looking for a new home before you sell your existing one, take a look at Salt Lake City homes for sale near you.

Is it a good idea to sell my house to cash home buyers?

No! If you want top dollar for your property, you need to list on the MLS in Utah. If you want sell a distressed house and fast, then it is a good idea to sell your home on a cash buyer marketplace.

What to look for when choosing cash home buyers?

Look for legitimate cash home buyers that have been in business for a couple of years. They should have positive customer reviews on platforms like Google and Yelp.

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