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Tue. Jun 18th, 2024

Companies that buy homes in Washington State

By meerna Jun12,2024

The Bavarian-style village of Leavenworth located near the Cascade Mountains.  A popular place for tourists

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If you’re trying to sell a home in Washington State, the housing market looks quite attractive right now. According to Redfin, average prices have increased by almost 10 percent over the past year, and about 40 percent of homes sold in April were achieved at above list price. Unlike many markets, it doesn’t take long to sell a house here either: a typical house stays on the market for just 14 days before going into contract.

However, in most cases, you will have to wait until the buyer receives financing, which may take several more weeks before you can complete the transaction. If you don’t have time to waste – either you need cash ASAP, or you just don’t want to go through the hassle of getting your home ready to go on the market – consider one of the many companies that buy houses in Washington. These companies buy homes quickly, sometimes closing the entire transaction in a week or less, and they buy as-is, which means you don’t have to do any work or make any repairs. Hook? They offer less for your home than you would probably make in a traditional sale. Here’s more information about companies that advertise “we buy houses in Washington.”

Types of companies that buy houses for cash in Washington

Here in the Evergreen State, you have many opportunities to sell to a “we buy houses” company. Choose from big-name franchises that are recognized from coast to coast or smaller, local businesses.

National options

The company known as We Buy Ugly Houses (its real name is HomeVestors) has locations in Seattle and Spokane and promises that sellers will be paid in 30 days or less. We Buy Houses — a completely different company despite a very similar name — also operates in Washington, D.C., with locations from Anderson Island to Yakima. The company promises to close in just seven days. For either option, you can fill out an online form with your address and someone will come and inspect the property. You will usually receive a no-obligation cash offer within 24 to 48 hours.

Home buying companies, known as iBuyers, operate at a similar speed, although they typically do not buy homes in poor condition. Washington isn’t typically a huge iBuyer market, but one of the biggest names in the market, Opendoor, is buying homes in the Vancouver area.

Local options

There are also many small, local companies to choose from, including:

  • Puget Sound Home Buyers: This company focuses on the Seattle metropolitan area, and if your home meets their criteria, it can close in as little as seven days.
  • Friendly home buyers: Owned by a Washington resident, your Tacoma area business can close in as little as 10 days or at any time that suits your needs.
  • Northwest Property Solutions: Instead of focusing solely on one metro area, Northwest Real Estate Solutions buys homes throughout the state. They also buy mobile homes and apartments, as well as single-family homes.

How do “we buy houses” companies work?

While there are some nuances to each company’s operation, all “we buy houses” companies focus on selling quickly as is, without the need for cleaning or repairs. They pay cash so you don’t have to wait for buyer financing to be approved, and they usually cover closing costs and other fees as well. Most of them are extremely fast and can be closed in just a week or two, but they often also provide the option to close on the timeline if you need extra wiggle room.

This all sounds great, but remember that these are house flipping companies that need to generate a profit to stay in business. You’ll get speed and convenience, but you won’t get as high a price for your home as you probably would on the open market.

For almost every one of these companies, here’s a summary of what to expect:

  1. Submit your address and some basic information online.
  2. Someone from the company will come to your home, conduct a thorough inspection of your property and make a cash offer.
  3. You’re under no obligation to accept the offer – although it may only be valid for a few days, so don’t wait too long to make a decision. Review everything carefully to make sure you understand all the details of the contract.
  4. If you accept the offer, you set a closing date and close the deal.

Alternatives

While “we buy houses” companies can help you sell your house really quickly, the reality is that homes in Washington sell quite quickly anyway. If you don’t think a cash house buying company is the right move for you, there are other options to consider:

  • Sell ​​with a real estate agent: Of course, you will have to pay a commission to the listing agent, but an experienced local agent who knows your market well is also the best option to maximize the value of your property and sell it for the highest possible price.
  • Sell ​​it yourself: If you want full control over the transaction, you can choose for sale by owner. Just be prepared to put a lot of work into promoting your listing, organizing showings, and negotiating with buyers. This is not an easy process, and the formalities and contracts involve many complexities, so if you decide to go this route, it will be wise to seek the help of a lawyer specializing in real estate.
  • Rent it: If you don’t need the cash from selling right away, consider renting your home. It can be very lucrative: According to Zillow Rental Manager, the average home rent in Washington, D.C. is just under $3,000.

Next steps

If you’re looking to sell your home quickly, or if it needs more work than you’re willing to put into it, it’s worth comparing Washington cash home buying companies to see how much they’re willing to pay. But before you sign up on the dotted line, do your research by looking at online reviews and contacting the Better Business Bureau.

If price is more important than speed and convenience, your next smart step is to find a local real estate agent who can help you list and market your home for maximum profit.

Frequently asked questions

  • Homes are already selling at a pretty rapid pace in Washington: April Redfin data shows that homes here spent an average of just 14 days on the market before going under contract. In Seattle, the number was just 7 days. However, once the deal is done, you usually have to wait weeks for buyer financing. If you have an even greater need for speed, try contacting a local company that buys houses for cash. They specialize in quick sales and can usually complete the entire transaction within a week or two.

  • Yes. You don’t need a real estate agent to sell your home in Washington or any state. One option is to advertise “for sale by owner,” where you do all the work that a real estate agent would normally do. Another is to sell to a company that buys homes for cash – these companies buy directly from the homeowner, without any middlemen. However, if you are selling without a real estate agent, it is wise to consult with a real estate attorney to make sure your interests are protected.

By meerna

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