5 of the Top We Buy Houses for Cash Companies in Burbank
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Stuck in a Burbank home you need to sell fast? Maybe you’ve already purchased a new home in another part of the Valley, or inherited a loved one’s place while living out of state. Whatever the reason, a Burbank “We Buy Houses” company can turn your home into cash in just days or weeks. No repairs, clean-up, or agent commissions to worry about!
“We Buy Houses” companies primarily cater to two types of sellers: homeowners with properties needing repairs they’d rather avoid, and those facing tight timelines who need to sell quickly. These companies buy homes in any condition, from foreclosure to foundation issues, all for cash. Plus, their services are typically free for the seller, and many even allow you to choose your move-out date.
But there’s a catch: to turn a profit, cash-for-homes companies often present offers that are below market value. This means you might receive less money than you could through a traditional home sale.
In this article, we’ll explore the advantages and disadvantages of working with a “We Buy Houses” company in Burbank. We’ll also highlight some reputable local companies and discuss alternative methods for a fast home sale. By the end, you’ll be equipped with the knowledge you need to make an informed decision that aligns with your specific needs and selling goals.
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Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Burbank area “We Buy Houses” companies should not be considered an endorsement.
Working with We Buy Houses companies in Burbank
If you’re looking for a low-stress, straightforward sales experience, you may want to consider partnering with a “We Buy Houses” company. Here’s an overview of how the process typically works:
- Research companies: Start by looking up reputable cash home buyers in Burbank. Ensure they have a solid track record and positive reviews from past sellers.
- Request an offer: Contact the company to express your interest in selling by filling out the form on their website or giving them a call. They will likely ask for details about your property, like its age, condition, and location.
- Schedule a walkthrough: A representative of the company may ask to tour your home in person to get a better idea of its condition and potential market value.
- Receive an offer: After evaluating your home, the company will present you with a no-obligation cash offer. This offer is usually non-negotiable, so it’s a take-it-or-leave-it deal.
- Accept the offer: If the offer aligns with your expectations, you can accept it. The company will then schedule the closing date according to your schedule.
- Close the sale: At the closing, you’ll sign some paperwork and receive the cash for your home via wire transfer. You’ll be asked to move out by the agreed-upon date, or some companies will approve a short rent-back period.
Popular We Buy Houses companies in Burbank
If you’re interested in a quick, hassle-free sale through a “We Buy Houses” company, it’s time to find a legitimate one you can rely on.
We’ve compiled a list of some of the top companies that will pay cash for your or your parents’ two-bedroom condo or California bungalow. By selling to one of these companies, you should be able to sell your Burbank home in as little as a week or two.
Prospect Group
Based in Burbank, Prospect Group is a real estate investment and redevelopment firm that buys single-family homes, multifamily buildings, and commercial properties. It has been in business since 2010 and operates throughout Southern California. The company purchases properties in as-is condition, and sellers don’t need to tackle repairs or clean-up. You can request a no-obligation cash offer by submitting the form on their website or giving them a call. Sellers can choose a closing date that works for them, which can be in as little as a couple of weeks.
Locations: Throughout Southern California, including Burbank
Closing costs: Sellers pay no closing costs; Prospect Group covers them.
Prospect Group has been accredited by the Better Business Bureau (BBB) since 2019 and holds an A+ rating. They also have a 5-star rating on Google based on a limited number of reviews. Former sellers commend the employees’ attentiveness, the quick closing process, and fair cash offers. “Excellent group to work with,” reads one review. “I was able to close within a record 14 days with Vartan and Robert with no hiccups.”
Website: prospectgroup.net/sell-my-house-fast-burbank/
Phone number: 818-862-7992
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Burbank (and across the country) can request a cash offer for their home. Simple Sale connects you to the largest network of cash buyers in the US. Partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. This enables Simple Sale to provide cash offers for a wide array of properties, even those that need some or a lot of work, in different locations throughout Burbank.
With Simple Sale, you can get a no-obligation, all-cash offer in 24 hours and sell your home in as few as 10 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including Burbank
Closing costs: No prep costs, agent commissions, or fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a HomeLight platform. HomeLight was founded in 2012 and is BBB-accredited with an A+ rating. The company has 4.8 stars on Google based on hundreds of user reviews. Below, you can hear about how Baohan Wu, a seller who used Simple Sale to sell his high-rise apartment, closed within three and a half weeks and what he thought of the process overall.
Learn more: homelight.com/simple
Phone: 844-488-8455
SoCal Home Buyers
SoCal Home Buyers is a family-owned real estate investment company based in Murrieta. They pay cash for properties in Los Angeles, Riverside, San Diego, and Orange counties. In addition to single-family homes, they also buy condos, multi-family properties, and some commercial properties — all in as-is condition. Sellers can get a no-obligation cash offer within a few hours or days of reaching out to SoCal Home Buyers, and close their home sale in as few as seven days.
Locations: Los Angeles, Riverside, San Diego, and Orange counties
Closing costs: Sellers pay no closing costs; SoCal Home Buyers covers them.
SoCal Home Buyers has been BBB-accredited since 2018 and boasts an A+ rating. They have also earned a 4.8-star rating on Google. Previous customers praise their competitive offers, professional and friendly service, and flexible closing timelines. “SoCal were very organized and kept us informed step-by-step,” wrote a former seller. “They were available by phone to answer all our questions and concerns. And they completed the transaction on the day promised.”
Website: socalhomebuyers.com/los-angeles/
Phone number: 951-331-3844
Bright Idea House Buyers
Based in Santa Monica, Bright Idea House Buyers is a local, family-owned company that makes all-cash offers on houses in Los Angeles County and select cities in Southern California. They will present you with a no-obligation cash offer within 24 hours of submitting your property information. Bright Idea House Buyers purchases homes in any condition or facing any situation, whether you’re dealing with foreclosure or are tired of being a landlord. Closing can take place in as few as seven days, or on the date of your choosing.
Locations: Los Angeles County, plus other cities in Southern California
Closing costs: Sellers pay no closing costs; Bright Idea House Buyers covers them.
Bright Idea House Buyers has been BBB-accredited since 2020 and holds an A+ rating. They also have a 5-star rating on Google based on a very limited number of reviews. Previous sellers mention owner Brian’s professionalism, responsiveness, and fair offers. “The sale of our home to Bright Idea House Buyer went very smoothly from start to finish,” wrote a reviewer. “Brian was always available to answer any questions we had.”
Website: brightideahousebuyers.com
Phone number: 424-625-7026
Casey Buys Houses
Casey Buys Houses is a family-owned business run by a husband-and-wife team. They have over 12 years of experience in real estate and investment and purchase homes in as-is condition throughout Southern California. Sellers can get a competitive cash offer within 24 hours and close in as little as seven days. There’s no need to make repairs or hire professional cleaners to get your house into selling shape.
Locations: Throughout Southern California, including Burbank
Closing costs: Casey Buys Houses often pays for closing costs.
Casey Buys Houses touts a 5-star rating on Google. Although they do not appear to be BBB-accredited, they do have a 3.9-star rating on Trustpilot. Reviews speak highly of the employees’ clear communication, real estate knowledge, and overall friendliness. “I was really impressed with Casey and his team they were able to help me and my family out of a tough situation,” wrote a former client. “It’s hard to find good people these days who actually care. Casey runs an honest business, and I’m super grateful he was able to help.”
Website: caseybuyshouses.com/sell-my-house-fast-in-burbank-ca
Phone number: 909-455-9496
Why sell your Burbank house for cash?
Selling for cash to a house-buying company can be a great option, especially if you need to move quickly and avoid the usual headaches of listing your house on the open market.
In Burbank, it typically takes around 79 days to sell a home on the market using an agent. That includes an average of 37 days on the market plus the typical 42 days a buyer needs to close on a purchase loan.
Compare that to the typical seven to 10 days promised by many house-buying companies in Burbank, and it’s easy to see why these Cash-For-Homes groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
These companies gaining popularity, especially among sellers who do not have the typically required long weeks or months to prepare, market, and close on a traditional home sale. Let’s look at some of the most common reasons Burbank sellers decide to work with a “We Buy Houses” company over listing a property the traditional way:
- Job relocation: Moving for work? Selling for cash can help get you there faster without the hassle of a traditional sale.
- Going through a divorce: Divorce is tough enough without the long process of selling a house. A quick cash sale can simplify splitting your assets.
- Inherited a property: If you recently inherited a property from a relative and aren’t sure what to do with it, selling for cash means you don’t have to worry about fixing it up.
- Ready to downsize: If it’s time to move to a smaller place, like a condo or retirement community, selling your current home for cash can make the transition smoother.
- Repairs needed: If your home needs major repairs, selling it for cash might be easier than dealing with the cost and time it would take to complete them.
- Skip the open houses: Not keen on having strangers walk through your home? Selling for cash means no open houses or endless showings.
- Foundation issues: Selling a traditional way can be tough with foundation problems, but cash buyers usually don’t mind.
- Facing foreclosure: If foreclosure is looming, a quick cash sale might help settle your debts faster and easier.
- Dealing with difficult tenants: If tenants are making your life hard, selling the property for cash can be a clean and quick solution.
- Selling from another state: Managing a property sale from afar is tricky. A cash offer is straightforward, with no need for you to travel back and forth.
If any of these situations sound like yours, accepting a cash offer might be a smart move. However, it’s just one of several options to consider.
Pros and cons of house-buying companies in Burbank
Working with a house-buying company in Burbank can be a quick way to sell your home, but it’s not without its trade-offs. In exchange for speed and convenience, you’ll often receive offers that are below market value.
Ahead, we’ll break down the pros and cons of accepting a cash offer from a “We Buy Houses company” in Burbank:
Pros
- Fast closing: Cash buyers can close on your home quickly, often within a week, allowing you to move on with less stress.
- Buy as-is: There’s no need to spend time or money on repairs; these companies will buy your home as-is.
- No contingencies: Cash offers often come without the usual sale contingencies, which means fewer hurdles to jump through.
- Avoids complications: This route eliminates many of the common complications of selling a home, like dealing with financing fall-throughs from buyers.
Cons
- Lower offers: These companies will likely offer you less than what you might get on the open market
- Profit-driven: Remember, these companies aim to profit, so offers might be strategically low to ensure their profitability.
- Potential scams: It’s important to thoroughly vet each company to avoid becoming the victim of a scam.
- Lack of local market expertise: Experienced agents know how to use Burbank’s current market trends to get you the best possible price.
Curious What Your Home Is Worth?
Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.
Vet cash buyers and know your home’s worth
When considering selling your Burbank home to a cash buyer, remember that the integrity and service levels can vary greatly between companies. It’s crucial that your experience is a positive one, and much of that hinges on who is making the offer. Before you commit, take the time to thoroughly vet the company. Look up their online reviews, read through testimonials from past sellers, and research their market presence to gauge their reliability and performance.
Also, be sure to carefully read the buying agreement before signing. It’s important to understand all the terms you are agreeing to. This ensures that there are no surprises and you feel comfortable with the transaction.
HomeLight suggests you consult with an experienced local agent to get a better idea of what your home might be worth if sold on the open market. Then, compare it to your cash offer. HomeLight can connect you with a top-performing agent in Burbank. You can also use HomeLight’s Home Value Estimator to get an initial ballpark estimate in less than two minutes.
Other options to sell your Burbank home quickly
iBuyers
iBuyers, or instant buyers, use automated valuation models (AVMs) to offer near-instant, market-value estimates for homes in good condition. The mostly online iBuyer process is quick, typically closing within days to two weeks. However, major players in the industry, like Opendoor and Offerpad, typically charge service fees of around 5%–6%. Note that this route is best suited for homeowners who live in areas with homogenous housing stock.
Listing with an agent
While a quick sale is certainly appealing, there are many benefits to listing with a real estate agent. Agents use tools like a comparative market analysis — often compiled for free — to price your home competitively. A seasoned agent could also leverage their network to connect you with a cash buyer willing to pay close to market value for your home. If you’re interested in exploring this option, HomeLight can put you in touch with a top-performing agent in Burbank.
FAQs on Burbank house-buying companies
By and large, most We Buy Houses for Cash companies in Burbank are legitimate businesses. Their services and transaction fees may differ, but the business model has been around for decades. If you use an established group with a track record, you can be fairly confident that it’s legit.
That said, as with any financial transaction, it’s a good idea to be on the alert for scams. Always research companies before you sign a contract. Check customer reviews, look at their online presence, verify professional licenses, get a referral if possible, and vet the company on the Better Business Bureau website. Watch for anything that just doesn’t seem right.
As described in our pros and cons list above, most Burbank “We Buy Houses” companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value minus their estimated repair costs.
Here’s an example of what a simplified formula might look like:
(Your home’s ARV x .70) – repair costs
To see how this might work in a real-world scenario, let’s take a look at an example offer equation. Let’s say your Burbank ranch-style home could sell for $1,150,000 after repairs, but it will need $30,000 of work to get there.
($1,150,000 x .70) – $30,000 = $775,000
In this example, a Burbank “We Buy Houses” company might offer you around $775,000 for your home.
However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more than We Buy Houses companies because iBuyers look for homes in better condition. An iBuyer might pay you 90% or more of market value while charging a fee for their services.
When you accept an offer from a Burbank “We Buy Houses” company, you will likely be coming to grips with a double-edged sword. On the one side, it shouldn’t cost you any additional money because these companies make an offer and handle almost everything once it is accepted. Conversely, you’ll likely get less money overall for your home.
Because “We Buy Houses” companies tend to focus on distressed homes, they typically have zero fees. Many will even cover your closing costs. In most cases, this means that the cash offer you receive will be the price you walk away with at the end of the deal. Of course, asking the company if any hidden program fees might impact your bottom line is always a good idea.
- Research and vet the house-buying companies that serve Burbank. Our list above is a good place to start.
- Submit offer requests to a few of the companies you like best.
- Schedule any required on-site property visits.
- Compare offers. Weigh the pros and cons and choose the best option for you.
- Close the sale in a week to 30 days and get paid. (Some companies will let you choose a closing date up to 90 days after accepting the offer, which can be helpful when planning a move.)
We Buy Houses Burbank vs. top Burbank agent
Another helpful exercise is to compare how a “We Buy Houses” company might stack up against working with a real estate agent. Let’s take a glance at how different aspects of the sale might look and compare possible proceeds.
| Aspect of the sale | Sell to a We Buy Houses company in Burbank | Sell with a top Realtor in Burbank |
| Selling timeline | 7 to 30 days | 79 days average; 37 to attract an offer, 42 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary repairs, landscape, stage home |
| Showings | None | 10 to 25 showings average |
| Inspections / repairs | None | May need to make additional repairs for the buyer or renegotiate the price |
| Appraisal | None | May need to lower your asking price if the appraisal comes in low |
| Title search | Cash-For-Homes companies often handle title issues | Must clear title before you can sell the home |
| Financing contingency | None | Mortgaged buyers use a financing contingency that could hold up the deal if the buyer’s loan doesn’t clear |
| Agent commission | None | 5.8% average |
| Closing costs | None | 1% to 3% of the home sale price on top of agent commission |
Example net proceeds
Below, we’ve compiled one example of how net proceeds may differ between selling a home to a “We Buy Houses” company and an agent-assisted sale.
Let’s say your home in Burbank is worth about $1,100,000 and needs about $40,000 in repairs. Once the repairs are completed, the home might be worth around $1,140,000.
| Sell to a We Buy Houses company in Burbank | Sell with a top Realtor in Burbank | |
| Estimated sale price | ($1,140,000 x .70) – $40,000 = $758,000 | $1,100,000 |
| Market preparations | 0 | $11,000 (1% of sale price) |
| Agent commissions | 0 | $63,800 (5.8% of sale price) |
| Closing costs | 0 | $16,500 (1.5%) |
| Estimated take-home for seller | $758,000 | $1,008,700 |
As this example illustrates, financially, it’s usually in your best interest to partner with an experienced real estate agent.
However, net proceeds are not the only consideration when selling a home. What’s best in your situation will depend on the condition of your property, what level of repairs are needed, and your selling objectives. It could be that selling on the open market will be a challenge in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Selling your Burbank home to a cash-buying company is usually quicker and simpler than the traditional market route.
- You can sell your house as-is, avoiding the cost and time of repairs and renovations.
- Cash offers typically come without the typical sale contingencies, streamlining the process.
- Be prepared to receive an offer that might be below market value compared to traditional sales. That’s why it’s important to know your home’s worth before agreeing to sell.
- Always verify the reputation and reliability of the house-buying company to avoid potential scams.
- HomeLight’s Simple Sale platform provides no-obligation, all-cash offers for homes in almost any condition in Burbank, connecting you with a wide range of qualified investors.
“We Buy Houses” companies in Burbank offer a quick and hassle-free sales process, which can be ideal if your situation demands speed. But remember, convenience often comes at a cost. Before you make a decision, it’s wise to gather multiple offers from reputable cash buyers to compare price points and closing timelines.
Consulting with a top Burbank agent can also help you decide whether a “We Buy Houses” company or a traditional listing is the best option for your situation. They have the expertise to estimate how quickly your house could sell and for what price in the current market.
HomeLight can simplify your Burbank home sale by connecting you with both top-rated agents and pre-vetted cash buyers. This will give you a clear picture of your options so you can make a well-informed decision.
Header Image Source: (alexandros33 / Depositphotos)
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