3.0
Editor's Rating (2 Reviews)0
User Rating (0 Reviews)Fast Home Offer is a network of investors offering cash for homes. They assist sellers offload distressed properties easily and quickly without strict eligibility criteria.
Pros
Cons
Fast Home Offer is a US-based cash buyer that purchases distressed properties. They help you sell your property in any condition, including short sales, foreclosures, and more. Furthermore, if you’re on a time crunch, they assist in selling your home quickly.
However, like most cash buyers, this company typically offers 50% to 70% of your home’s FMV. If you’re seeking an offer closer to your home’s fair market value, a cash buyer marketplace can help attract multiple offers.
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✍️ Editor’s Take: We recommend you opt for cash buyer marketplaces. They connect you with nationwide investors and buyers, increasing your chances of getting multiple cash offers. This way, you can choose the best offer and close the deal faster.
Is Fast Home Offer Legit?
Yes, Fast Home Offer is a legitimate cash buyer established by Jeremy Brandt in 2003. They are BBB accredited with an A+ rating but still lack credible reviews. The company has helped more than 300,000 home sellers over the past 4 years.
Fast Home Offer operates on a franchise model across the USA. Therefore, your experience will depend on the specific investor you collaborate with.
How Does Fast Home Offer Work?
Steps to get a cash offer from Fast Home Offer are as follows:
- Fill Out an Online Form: Submit your personal details and property information on the website’s homepage. This includes details like asking price, house type, and more.
- Connect With an Investor: A FHO affiliate investor will reach out to you for an initial assessment. They will discuss your situation and any specific preferences you may have.
- Schedule a Visit: Once they receive this data, the investor will schedule a home inspection.
- Get a Cash Offer: After the property viewing, they will present you with a no-obligation cash offer.
- Close the Sale: If you choose to accept the cash offer, the investor will help you sale. You can close within 7-14 days or on a date of your choice.
Do they provide Short Sales?
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✍️ If your house is mortgaged and you need cash urgently, Fast Home Offer offers short sales. They provide a mortgage calculator to assist with your financial planning. They also help stop foreclosure and offer support for inheritance and probate cases.
How Much Does Fast Home Offer Pay?
Fast Home Offer doesn’t mention on their website how much they offer for a property. Based on our understanding of industry standards, the offer will likely range from 50% to 70%.
For example: If the fair market value of your property is $300,000. Your cash offer could range between:
- Lowest Offer (50%): $300,000 * 0.50 = $150,000
- Highest Offer (70%): $300,000 * 0.70 = $210,000
This cash offer is a convenient choice for those looking to quickly sell a distressed property. For sellers prioritizing higher equity, considering alternative companies may be a strategic choice. Before making decisions, it’s important to know your home’s current market value.
» What’s My Home’s Value: You can know your home’s market value with Houzeo’s free Home Worth Estimator. It helps you estimate the amount you will get upon sale.
Fast Home Offer Coverage
Fast Home Offer purchases house in the US, Canada, Mexico, and Australia. Additionally, they also plan to extend their home-buying operations to Europe soon.
Reviews of Fast Home Offer
As mentioned before, Fast Home Offer is a BBB accredited company. However, they do not have mention on credible websites like Google and Yelp.
They have a 3 out of 5-star rating on BBB based on just two reviews. One review appreciates closing in 14 days, while another complains about poor customer service.
Fast Home Offer Reviews: Pros and Cons
Here are the pros and cons of Fast Home Offer:
✅ Pros
- Buy As Is Houses: Fast Home Offer purchases houses as is. So, even if your property is facing foreclosure or needs heavy repairs, you’ll get a cash offer.
- Quick Cash Offer: They are known for extending fast cash offers. So, you can get quick cash in hand if you’re in a hurry.
- Quick Closing: Fast Home Offer website says they close in as little as two weeks. They also have a flexible timeline and can close on a date suitable to you.
- No Service Fees: They do not charge any service fee. As a result, you do not pay any additional costs.
- Buys All Types of Real Estate: They buy commercial buildings, apartments, condos, townhomes, raw land, and mobile homes with land attached.
- Coverage: The company offers services across the United States. In addition, they also serve in Canada, Mexico and Australia.
❌ Cons
- Lowball Cash Offers: Like most cash buyers, your offer could be just 50% to 70% of your home’s FMV.
- Little Scope for Negotiation: Usually, cash buyers offer no room for negotiation. With Fast Home Offer, you work with a local investor. So, negotiating the cash offer will depend on a case-by-case basis.
- No Credible Fast Home Offer Reviews: Fast Home Offer has no credible reviews on popular, trustworthy websites like Google or Yelp.
Fast Home Offer Competitors
Here are the top 3 competitors to Fast Home Offer:
1. Fast Home Offer vs. Clever Offers
Fast Home Offer is a cash buyer that purchases homes in any condition. They provide quick cash offers and flexible closings. However, their offers are usually below market value.
Clever Offers connects sellers with multiple cash buyers, allowing comparison of offers. They typically generate 3 to 5 competitive offers per listing. Sellers can choose the best offer and close on their preferred timeline.
2. Fast Home Offer vs. Houzeo
When you sell your home to Fast Home Offer, you may receive a lowball offer. In addition, negotiations might depend on who you collaborate with i.e. your local investor. To avoid such uncertainty, it’s better to list on a cash buyer marketplace like Houzeo.
With Houzeo, you can sell your house for cash by fetching the best deal through a pool of offers. Additionally, you can use Houzeo’s cutting-edge technology to compare offers and request the highest and best one.
3. Fast Home Offer vs. Opendoor
Fast Home Offer purchases houses in any condition and has nationwide coverage. They do not charge any service fee to make an cash offer. However, you are likely to get a low ball offer.
In contrast, Opendoor is an iBuyer that offers around 70% to 80% of your home’s equity. Opendoor does not buy houses in as is condition. They also charge a 5% service fee and 1% at closing. If your house is in decent condition, selling to an iBuyer is better.
“We Buy Houses for Cash” Companies Near You
There are other “We Buy Houses As Is” companies in the market. You can request offers from multiple cash companies and pick the one that suits you the best.
Other Options You Should Consider
- Sell For Sale By Owner: For Sale By Owner websites help you list and sell a house yourself, saving thousands in agent commissions. Around one-third of home buyers pay in cash. Hence, selling FSBO helps you to get 100% FMV of your house in cash.
- Sell Through a Realtor: Traditional Realtors list your property on the MLS and help you at every step of home selling. However, you have to pay them 3% of the home’s sale price for this convenience.
- Sell Through Discount Realtors: Discount real estate brokers reduce their commissions to offer affordable services. Their commission varies between 0.5% and 2%.
Is Fast Home Offer Worth it?
Yes, Fast Home Offer is worth it if you need cash urgently. However, you must know that you will get a lowball offer. In addition, your property receives a single cash offer from one investor limiting negotiation options.
For a better deal, consider selling your home with a cash buyer marketplace. This gives your property wide exposure and lets you compare offers from multiple cash buyers. So increase your chances of getting a competitive price closer to your home’s actual market value.
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