Company Background and History
We Buy Houses was founded in 1997 by Jeremy Brandt, who describes it as "the most recognized name in the world for residential real estate investing." Headquartered in Texas, the company operates under a licensing model.
Key Facts:
- Founded in 1997
- Headquartered in Texas
- Operates under a licensing model
- Provides branding, marketing, technology, education support
- Mission: to create a national cash buyer brand that would help sellers identify honest and trustworthy investors
How We Buy Houses Works
Initial Contact
Homeowners submit information by calling their local We Buy Houses office or completing an online form with property details.
Home Assessment
A representative gathers detailed information and schedules an in-person inspection to evaluate the property's condition.
Offer Presentation
Homeowners typically receive a no-obligation cash offer within 24-48 hours after inspection.
Closing Process
If accepted, closing can happen in as little as 7-14 days, or longer if needed, with the company handling closing costs.
Benefits:
- No repairs needed
- No multiple showings
- No staging required
- No financing contingencies
What We Buy Houses Pays
Typical Offer Range:
50-70% of fair market value
Example:
For a $400,000 home, offers typically range from $200,000 to $280,000.
Factors Affecting Offer Price:
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Location
Properties in desirable areas may receive higher percentage offers.
- •
Property Condition
Offer depends on project timeline and difficulty.
- •
Current Market Trends
Local market conditions influence investor pricing.
- •
After-Repair Value (ARV)
Based on fair market value minus repairs and 10-20% convenience fee.
Types of Properties We Buy Houses Purchases
Accepted Properties:
- Single-family homes
- Multi-family homes
- Investment properties
- Vacant properties
Special Situations:
- Pre-foreclosure homes
- Inherited properties
- Homes with title issues
- Properties with tax liens
- Rental properties with tenants
Customer Reviews and Reputation
Overall Rating: mixed
BBB Rating: low
We Buy Houses Memphis worked with me when I needed to sell my home before a cross country move... selling my house through We Buy Houses was easy and convenient.
It was a pleasure dealing with We Buy Salt Lake City Houses. They took the time to educate me on the industry as well as their process.
Pros and Cons
Pros
- ✓Speed (7-14 day closing)
- ✓No repairs needed
- ✓No showings or staging
- ✓No fees or commissions
- ✓Flexible closing
- ✓Certainty (no financing contingencies)
- ✓Solutions for difficult properties
Cons
- ✗Lower offers (50-70% of market value)
- ✗Service variation between locations
- ✗Limited negotiation
- ✗Need to compare with competitors
- ✗No preliminary online offers
Alternative Selling Options
1. Traditional agent listing
Pros:
Highest potential price
Cons:
- Longer timeline
- Preparation requirements
- 5-6% commission
2. For Sale By Owner
Pros:
Saves listing commission
Cons:
- Typically nets less
- Requires significant time investment
3. Discount brokers
Pros:
Reduced commissions (1-2%)
Cons:
- More limited services
4. iBuyers
Pros:
Quick processHigher offers (90-95% of market value)
Cons:
- 5% service fees
- Stricter property requirements
5. Other cash buyers
Pros:
Similar models
Cons:
- Different terms or specializations
6. Auction services
Pros:
Defined timeline
Cons:
- Unpredictable final price
- Auction fees (5-10%)
Frequently Asked Questions
Is We Buy Houses legitimate?
Yes, founded in 1997 by Jeremy Brandt, the company operates in 200+ markets across 30+ states.
How long for an offer?
Typically within 24-48 hours after inspection.
Do I need to make repairs?
No, properties are purchased 'as-is.'
How quickly can I close?
As quickly as 7-14 days after accepting an offer.
What percentage of market value will I receive?
Typically 50-70% of fair market value.
Are there fees or commissions?
No, sellers don't pay fees, commissions, or closing costs.
Conclusion: Is We Buy Houses Right for You?
We Buy Houses provides a legitimate service for homeowners needing quick, hassle-free property sales. While their offers (50-70% of market value) are significantly below traditional sale prices, the trade-off includes speed, convenience, and certainty.
Key Advantages:
- Rapid closing (7-14 days)
- No repairs, fees, or commissions
- Flexible timing and certainty
- Established brand standards
Key Disadvantages:
- Significantly discounted offers
- Variable service quality between locations
- Limited negotiation room
Best For:
- Urgent sales needed due to relocation, financial hardship, or personal circumstances
- Inherited unwanted properties
- Homes needing substantial repairs
- Foreclosure situations
- Divorce property liquidation
For homeowners prioritizing maximum sale price over speed and convenience, traditional market sales remain the better option. By understanding the trade-offs involved, homeowners can make informed decisions that best serve their specific circumstances.