Tarek Buys Houses is a real estate investment company that buys distressed properties at discounted rates. You can close escrow in just 7 days but may have to compromise on the price of your home.
This cash buyer could give you just 50% to 70% of your home’s Fair Market Value. If you’re in a hurry, you would be forced to accept this below-market offer.
In this blog, let’s look at Tarek Buys Houses reviews and their alternatives to help you get the property value you deserve!
Key Takeaways
- Pros: Tarek Buys Houses lets you liquidate your home’s equity within 7 days. This gives you cash in hand quickly. Further, they purchase homes as is, so you save on repair costs.
- Cons: Tarek Buys Houses extends offers that are almost 50% to 70% below your home’s market value. Moreover, you have limited scope to negotiate a better offer.
- Our Take: We don’t recommend Tarek Buys Houses. Instead, list your home on a cash buyer marketplace like Houzeo to get 100% of your property’s Fair Market Value. Compare Houzeo vs. Tarek Buys Houses.
What is Tarek Buys Houses?
Tarek Buys Houses LLC is a home-buying company that extends cash offers for distressed properties. They purchase homes at a steep discount, renovate them, and then sell them for a profit.
Founded by the Flip or Flop star, Tarek El Moussa, this company can close on your property within a week.
Tarek Buys Houses also helps you secure financing for your next home. Additionally, they can put you in touch with their wide network of real estate agents who can help you buy your house.
What Types of Properties Does Tarek Buys Houses Purchase?
Tarek Buys Houses purchases all kinds of homes at a steep discount from distressed sellers. Some of these houses include:
- Inherited properties
- Homes with structural damages
- Rental properties with tiresome tenants
- Houses facing foreclosure
- Properties with an expired listing
When compared to other cash home buyers, you may be robbed of a huge chunk of money with Tarek Buys Houses.
To avoid such a possibility, list on the MLS with a flat fee company like Houzeo and compare multiple offers from cash companies and iBuyers alike.
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👉 IMPORTANT: Review local housing sales data and determine the Fair Market Value of your property before requesting a cash offer from Tarek Buys Houses.
Tarek Buys Houses vs. Houzeo
Selling to Tarek Buys Houses seems hassle-free. But you pay for this convenience by selling your home at a reduced price.
On the other hand, an MLS listing with Houzeo’s Gold plan equips you with advanced technology to call for the highest and best offers. You can also counter offers to help you get a deal closer to your expectations.
| Tarek Buys Houses | Houzeo | |
|---|---|---|
| Sale Price | 50% to 70% of FMV | Up to 100% of FMV |
| Customer Rating | 4.7 stars (55 reviews) | 4.9 stars (4,523 reviews) |
| Closing Timeline | 7 to 45 days | 2 to 60 days |
| Fees | ❌ | $379 |
| Closing Costs | ❌ | 1% to 3% Closing Costs |
| Scope for Negotiation | ❌ | ✅ |
| Repair Costs | ❌ | ✅ |
» Houzeo Reviews: Still not convinced? Read what customers have to say about Houzeo.
Tarek Buys Houses: Pros and Cons
Tarek Buys Houses is a convenient option for sellers who need cash fast. However, their pros and cons paint a clearer picture:
✅ Tarek Buys Houses Pros
Cash home buyers have certain advantages over traditional home-selling processes. Let’s see how Tarek Buys Houses matches up to these expectations.
- Buy As Is Houses: This “We Buy Homes Fast” company purchases homes as is. So, even if your property is facing foreclosure or needs heavy repairs, you will get a cash offer.
- Quick Closing: Tarek Buys Houses reviews say they close in as little as a week. This helps you if you’re on a tight timeframe.
- Nationwide Coverage: This cash buyer purchases homes as is across the country.
⛔ Tarek Buys Houses Cons
Tarek Buys Houses complaints reflect the following disadvantages of the company:
- Lowball Cash Offers: Tarek Buys Houses views your house as an investment opportunity. So, your offer price may be much lower than the market price of your property.
- Little to No Scope for Negotiation: With cash home buyers like Tarek Buys Houses, you don’t have room to negotiate your cash offer. If you still want to try your luck, ensure that you back your arguments with proof.
Best Alternatives to Tarek Buys Houses
Even if you want to sell your house fast for cash, look for some alternatives better than Tarek Buys Houses. We’ve listed three below:
- Houzeo: Houzeo is one of the best FSBO websites in America that lets you list your home on the MLS in just 24 to 48 hours. Here, multiple national and local cash home buyers make offers on your property, driving up its price. You can even get 100% of your home’s FMV.
- Opendoor: Opendoor is the largest iBuyer in America extending cash offers for homes needing minimal repairs. They generally pay 70% to 80% of your home’s FMV but deduct a 5% service fee, closing costs, and repair costs from the offer.
- HomeVestors: HomeVestors is a cash home buyer franchise offering 50% to 70% of the home’s FMV. However, they may deduct repair costs at closing. Further, since each office is independently owned, you won’t get consistent service across the country.
“We Buy Houses for Cash” Companies Near Me
There are other “We Buy Houses As Is” companies in the market. You can request an offer from multiple cash companies and pick the one that suits you the best.
Frequently Asked Questions About Tarek Buys Houses
1. Is Tarek Buys Houses legit?
Yes, Tarek Buys Houses is a legitimate company founded in 2017. Though they primarily cater to markets in Southern California, they purchase homes as is across the country.
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