We Buy Houses Coral Gables: Top 5 Companies
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Joseph Gordon EditorJoseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
If you’re a homeowner in Coral Gables and need to sell your house quickly, you may be considering working with a We Buy Houses company. These companies make all-cash offers, often purchasing properties as-is, so you don’t have to worry about repairs or upgrades. For homes that need work or situations where speed is key, a cash offer can provide a straightforward solution.
Whether it’s avoiding foreclosure, managing an inherited property, or a job relocation, a quick cash sale allows you to skip the headaches that come with the traditional home-selling process.
In this post, we’ll explore the pros and cons of We Buy Houses companies in Coral Gables and help you weigh your options for a fast home sale.
Sell Your House Fast in Coral Gables With a Cash Offer
Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in 24 hours and close in as few as 10 days. No showings, no repairs, no open houses. Available to sellers throughout Coral Gables.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Coral Gables area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Coral Gables
Selling your house to a house-buying company in Coral Gables is an easy process designed to help you close quickly without the headaches of traditional selling. Here’s how it works:
- Reach out to the company: Contact a We Buy Houses company through their website or by phone to share basic information about your property.
- Schedule a home assessment: A representative will set up a time to evaluate your home, either in person or virtually, to determine its value and condition.
- Receive a cash offer: After the assessment, the company will present you with a no-obligation, all-cash offer for your property.
- Review the terms: Take time to review the offer and confirm the proposed timeline for closing.
- Sign the purchase agreement: If you accept the offer, sign the agreement to begin the sale process.
- Close and get paid: The company will handle the closing paperwork, and you’ll receive your payment—often in a matter of days.
Popular We Buy Houses for Cash companies in Coral Gables
If the process of selling to a house-buying company in Coral Gables sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some of the top companies that will pay cash for your or your parents’ Mediterranean Revival or Cape Dutch styles. By selling to one of these companies, you should be able to sell your Coral Gables home in as little as a week or two.
FL Cash Home Buyers, LLC
Formed in 2011, FL Cash Home Buyers, LLC, or Florida Cash Home Buyers, has completed over 800 real estate transactions. It promises a fast closing process that typically takes two to four weeks, but the company can be flexible depending on the seller’s level of urgency and preferred timeline.
Locations: Throughout Florida, including Coral Gables
Closing costs: Sellers pay no closing costs; Florida Cash Home Buyers cover them.
Florida Cash Home Buyers has several positive reviews on Google, generating an average rating of 4.9 out of 5 stars. FL Cash Home Buyers, LLC has been accredited by the Better Business Bureau (BBB) since 2015 and holds an A+ rating.
Website: floridacashhomebuyers.com
Phone number: 954-519-7040
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Coral Gables (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 U.S. 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 Coral Gables.
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 Coral Gables
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
Homeinc
Homeinc offers a quick, hassle-free way to sell properties, closing in as few as five days with cash wired the same day. They buy various property types, including single-family homes, condos, and mobile homes, even those with code violations, liens, or structural issues.
Locations: Throughout Georgia and Florida, including Coral Gables
Closing costs: Sellers pay no closing costs; Homeinc covers them.
Homeinc has a 4.9-star rating on Google reviews, and the company receives positive feedback for its professionalism, excellent communication, and supportive staff. Homeinc has also been BBB accredited since April 2021 and holds an A+ rating.
Website: homeinc.com/coral-gables
Phone number: 888-850-2636
Liberty House Buying Group
Liberty House Buying Group is a direct buyer that’s been in business since 2017 and says it does not charge any fees or include hidden costs as part of its cash offer service. They say they’ll buy any property in Florida in every condition or situation, including a property with code violations.
Locations: serves Florida, including Coral Gables
Closing costs: Sellers pay no closing costs; Liberty House Buying Group covers them.
Liberty House Buying Group is accredited with The Better Business Bureau and has an A+ rating. Google reviews give Liberty House Buying Group a 5-star rating.
Website: libertyhousebuyinggroup.com/we-buy-houses-coral-gables-fl/
Phone number: 786-686-2060
House Heroes LLC
House Heroes was founded in 2013, having expanded from Dallas, its home market, to the Sunshine State. It will purchase single-family homes, land, condos, and apartments that owners want to offload quickly.
Locations: Offices serving markets across Dallas and Florida, including Coral Gables
Closing costs: Typically, sellers pay no closing costs; House Heroes will “often pay” for them. Consult this company directly for details about your unique situation.
House Heroes has been accredited with the BBB since 2017, where it retains an A+ rating. With more than 50 Google reviews on its Florida location averaging 4.9 stars.
Website: househeroes.com/sell-my-house-fast-coral-gables
Phone number: 954-676-1846
Why sell your Coral Gables house for cash?
There are many valid reasons a Coral Gables home seller may choose to work with a Cash-For-Homes company. The ease and speed of the sale are some of the most often cited.
In Coral Gables, it typically takes around 41 days to sell a home on the market using an agent. That includes an average of 85 days on the market plus the typical 44 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 Coral Gables, and it’s clear why these Cash-For-Homes groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
Below are some common scenarios where selling your home for cash might make sense.
- Job relocation: If a new job opportunity requires you to move quickly, a cash sale eliminates the time and effort of listing your home.
- Divorce: Splitting assets during a divorce can be complicated, but selling your house for cash provides a fast and neutral solution.
- Inherited property: If you’ve inherited a house you don’t want to maintain, a cash offer can simplify the process and save you time.
- Downsizing: When it’s time to move to a smaller home or retirement community, selling for cash can streamline your transition.
- Costly repairs: If your home requires significant repairs you can’t afford, selling as-is for cash lets you skip the expense.
- Avoiding open houses: Don’t want to host strangers in your home? A cash sale lets you skip open houses and showings altogether.
- Foundation issues: Structural problems can scare off buyers, but many house-buying companies will still make an offer.
- Foreclosure risk: If you’re at risk of foreclosure, selling your house for cash can help you pay off your mortgage and avoid credit damage.
- Troublesome tenants: Selling a rental property with difficult tenants? A cash buyer will often purchase it with the tenants in place.
- Selling from out of state: If you’ve moved away and need to sell, a cash-for-homes company can handle the process without your physical presence.
Pros and cons of house-buying companies in Coral Gables
Selling to a house-buying company in Coral Gables comes with distinct advantages and drawbacks. If you’re considering this option, understanding both sides can help you make the best decision. Below, we’ve outlined key pros and cons to help you weigh your options.
Pros of working with house-buying companies in Coral Gables
House-buying companies excel in offering a fast, stress-free selling experience. They will purchase your home in as-is condition, saving you time and money on repairs or preparations. Here’s a closer look at the benefits.
- Quick closing timeline: A cash sale often closes in as little as seven days, giving you the ability to move forward fast.
- Buy homes in any condition: House-buying companies will purchase your home as-is, so you don’t need to worry about fixing anything, even major structural issues.
- No contingencies: Without contingencies, such as financing or inspection requirements, the sale is less likely to fall through.
- Skip showings and prep work: There’s no need for staging, marketing, or hosting open houses—just accept the offer and move on.
Cons of working with house-buying companies in Coral Gables
The biggest downside is that these companies typically offer below-market value for your home compared to what you could earn with an experienced agent. Let’s explore the challenges you might encounter with a cash sale.
- Lower offer price: Cash offers are typically 10%-50% less than what you could get selling traditionally, making it harder to maximize your equity.
- Potential scams: The cash-buying industry isn’t heavily regulated, so you’ll need to watch out for scams or predatory practices.
- Less transparency: Some companies may not provide clear breakdowns of how they calculate their offers, leaving you uncertain about whether you’re getting a fair deal.
- Limited negotiation: Most offers are take-it-or-leave-it, meaning you have little room to advocate for a better price or terms.
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
The level of integrity and service you experience from a We Buy Houses for Cash company can vary, even within an established house-buying group that strives to maintain high standards. This is because many Cash-For-Homes companies are franchises and often use independent investors or wholesaling outfits. Your experience depends on the character of the person or group making the offer.
Before committing to a cash offer, vet the company thoroughly. Check reviews, read testimonials, and research its presence and performance in the market. And, of course, read the buying agreement carefully before signing.
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 your cash offer. HomeLight can connect you with a top-performing agent in your market. 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 Coral Gables home quickly
If you need a fast home sale but aren’t sure a house-buying company is right for you, there are two other options to consider: iBuyers and listing with a real estate agent.
iBuyers
iBuyers like Opendoor and Offerpad use automated valuation models (AVMs) to generate quick cash offers for homes in good condition. The mostly online iBuyer process is simple, and closings typically happen within a few days to two weeks. While iBuyers often pay closer to market value than traditional house-buying companies, they charge service fees of around 5%-6%.
Listing with an agent
A top real estate agent can help you sell fast in a strong market. Strategic pricing and marketing can speed up the process, and listing with an agent often yields the highest sale price. Many agents offer a comparative market analysis (often free) to help you price your home appropriately and gauge how quickly it might sell. Additionally, agents may connect you with buyers who offer competitive cash deals.
If you want to explore working with an agent, HomeLight can connect you with a top-performing professional in your area.
FAQs on Coral Gables house-buying companies
By and large, most We Buy Houses for Cash companies in Coral Gables 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 Coral Gables We Buy Houses for Cash 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 Coral Gables Mediterranean could sell for $1,100,440 after repairs, but it will need $50,000 of work to get there.
($1,100,440 x .70) – $50,000 = $720,308
In this example, a Coral Gables We Buy Houses company might offer you around $720,308 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 Coral Gables We Buy Houses for Cash 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 for Cash 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 your Coral Gables area. 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 for Cash in Coral Gables vs. top Coral Gables agent
Another helpful exercise is to compare how a We Buy Houses for Cash 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 for Cash company in Coral Gables | Sell with a top Realtor in Coral Gables |
| Selling timeline | 7 to 30 days | 85 days average; 41 to attract an offer, 44 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 | 3%-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 for Cash company and an agent-assisted sale.
Let’s say your home in Coral Gables is worth about $1,100,400 and needs about $50,000 in repairs. Once the repairs are completed, the home might be worth around $1,150,400.
| Sell to a We Buy Houses for Cash company in Coral Gables | Sell with a top Realtor in Coral Gables | |
| Estimated sale price | ($1,150,400 x .70) – $50,000 = $755,280 | $1,100,400 |
| Market preparations | 0 | $11,004 (1% of sale price) |
| Agent commissions | 0 | $33,012 (3%) |
| Closing costs | 0 | $16,506 (1.5%) |
| Estimated take-home for seller | $755,280 | $1,039,878 |
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
- Cash sales offer speed and convenience: House-buying companies in Coral Gables specialize in quick, hassle-free transactions, often closing in as little as a week.
- No repairs or showings required: These companies purchase homes as-is, saving you time and money on costly repairs or staging efforts.
- Expect lower offers: Cash-for-homes companies typically offer below market value, which may mean sacrificing some of your home’s equity.
- Alternative options exist: iBuyers and top agents can also help you sell quickly while potentially offering higher proceeds.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
At HomeLight, we’re happy to lend a guiding hand in navigating your real estate journey. Let us help you make an informed and confident decision, whether you’re looking for a no-obligation cash offer through a trusted platform like Simple Sale or seeking to consult with a top Coral Gables agent.
Header Image Source: (felixtm/DepositPhotos)
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