We Buy Houses Hot Springs, AR: Top 6 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.
Thinking about a fast home sale in Hot Springs? We Buy Houses companies in Hot Springs offer all-cash offers, often for homes that need a little work. For homeowners without the time, expertise, or funds for repairs, a cash sale can mean a quicker closing, enabling you to move forward with your plans with fewer obstacles.
Selling to a cash-for-homes company can provide relief if you’re dealing with an unexpected situation or simply need a rapid sale. These companies streamline the process, often closing in as little as a few weeks—giving you access to the proceeds without the delays of a traditional sale.
In this post, we’ll explore the pros and cons of working with We Buy Houses companies in Hot Springs to help you decide if this option is the right fit.
Sell Your House Fast in Hot Springs 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 Hot Springs.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Hot Springs area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Hot Springs
If you’re a homeowner in Hot Springs needing a quick sale, working with a house-buying company could provide the speedy solution you need. Here’s an easy-to-scan overview of the main steps you’ll go through when selling your house to a cash-for-homes company.
- Submit your property details: Start by providing basic information about your home, like its location, condition, and any repairs needed.
- Schedule a home assessment: The house-buying company will arrange a visit to inspect your property and verify its condition.
- Receive an all-cash offer: After reviewing your home’s details, the company will make a no-obligation cash offer, usually within a day or two of the assessment.
- Review the contract: Take time to carefully read through the offer terms and confirm they align with your needs and expectations.
- Set a closing date: If you decide to accept the offer, you’ll coordinate with the buyer to choose a convenient closing date, often within a few weeks.
- Receive your payment: At closing, you’ll sign the final paperwork, hand over the keys, and receive your payment—enabling you to move forward.
Popular We Buy Houses for Cash companies in Hot Springs
If the process of selling to a house-buying company in Hot Springs 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’ craftsman bungalow or ranch-style home. By selling to one of these companies, you should be able to sell your Hot Springs home in as little as a week or two.
Little Rock Property Buyers
Little Rock Property Buyers offers a simple four-step process for selling your home. Once you provide your property information, the staff can make a cash offer within 24 hours. The sale can close as quickly as seven days, sometimes the same day, or on a timeline that works for you.
Locations: Little Rock, Central, and Northwest Arkansas, including Hot Springs
Closing costs: Sellers pay no closing costs. Little Rock Property Buyers covers them.
Little Rock Property Buyers maintains a 4.8-star rating on Google.
Website: propertybuyersar.com
Phone number: 501-381-7493
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Hot Springs (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 Hot Springs.
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 Hot Springs.
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
We Buy Houses Arkansas
We Buy Houses is a national homebuying network with independent franchise offices in Arkansas. It buys single-family homes, condos, land, and other real estate types. On average, sellers can expect to close within 7-14 days.
Locations: Nationwide, including Hot Springs in Arkansas.
Closing costs: Sellers pay no closing costs. We Buy Houses covers them.
We Buy Houses has been BBB accredited since 2020 and holds an A+ rating.
Website: webuyhouses.com/AR
Phone number: 877-932-8946
Gary Buys Houses
Gary Buys Houses AR offers a quick home-selling process, providing a cash offer in as little as 48 hours and allowing sellers to select their move-out date, purchasing homes in a variety of conditions.
Locations: Little Rock and nearby areas
Closing costs: Sellers pay no closing costs; Gary Buys Houses AR covers them.
Gary Buys Houses has earned a 4.9-star Google rating.
Website: garybuyshousesar.com
Phone number: 501-449-2897
Mid South Best Offers Little Rock
Mid South Best Offers offers a no-obligation evaluation and a flexible selling process that can usually extend a cash offer within 48 hours and close deals in 14 days, without any commission or fees, buying houses in any condition or situation.
Locations: Central Arkansas and surrounding cities, including Little Rock
Closing costs: Sellers pay no closing costs; Mid South Best Offers covers them.
Mid South Best Offers has achieved a 4.9-star Google rating.
Website: midsouthbestoffers.com
Phone number: 501-300-6955
Paranova Property Buyers
Paranova Property Buyers specializes in buying houses in Central Arkansas. Their process begins with gathering information to make the best cash offer, followed by a brief appointment to finalize details.
Locations: Central Arkansas and surrounding cities, including Little Rock
Closing costs: Sellers pay no closing costs; Paranova Property Buyers cover them.
Paranova Property Buyers holds a 4.8-star Google rating.
Website: paranovabuyers.com
Phone number: 501-314-8710
Why sell your Hot Springs house for cash?
There are plenty of valid reasons a Hot Springs home seller may choose to work with a Cash-For-Homes company. Speed and convenience are among the main reasons.
In Hot Springs, it typically takes around 62 days to sell a home on the market using an agent. That includes an average of 18 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 Hot Springs, 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.
Here are some common scenarios where a cash sale could fit your needs.
- Job relocation: You need to move quickly to start a new job in another city and don’t have time for a lengthy sale.
- Divorce: A fast sale can help you settle property matters quickly, enabling both parties to move forward.
- Inherited: You’ve inherited a property that you’d prefer to sell rather than manage, especially if you’re out of town.
- Downsizing: Moving to a smaller place? A cash sale can simplify the process, helping you transition more easily.
- Repairs: Your house needs costly repairs, and you’d rather sell as-is than invest more money.
- Open houses: You want to skip the time and effort of preparing for open houses and showings.
- Foundation: Major structural issues, like foundation problems, make listing on the open market challenging.
- Foreclosure: Selling for cash could help you avoid foreclosure, providing an alternative way to resolve your mortgage.
- Tenants: Managing tenant issues? A cash buyer can purchase your property with existing tenants in place.
- Selling from out of state: Living far away and unable to manage a local sale? A cash company can handle the process.
Pros and cons of house-buying companies in Hot Springs
Working with a house-buying company in Hot Springs can be an appealing option if you need to sell quickly or if your home requires significant repairs. Let’s take a look at the pros and cons to help you determine if this approach is right for you.
Selling to a house-buying company offers significant advantages, primarily speed and convenience. A cash buyer typically closes fast and buys your home in any condition, so you won’t need to worry about repairs or staging. Here are some additional benefits.
- Fast closing: Cash buyers usually close in a few weeks, enabling you to complete the sale on your timeline.
- No repairs needed: Cash buyers purchase homes as-is, so you won’t need to spend on costly repairs or updates.
- Skip showings: With no need for open houses or staging, you avoid the time and effort of preparing your home for the market.
- Few contingencies: Cash offers generally come with fewer contingencies, reducing the risk of unexpected delays or the deal falling through.
While selling to a house-buying company provides convenience, it’s important to consider potential downsides. The main drawback is that a cash offer will likely be below market value, which means you may earn less compared to a traditional sale with a real estate agent. Here are other factors to weigh.
- Lower offer: Cash buyers generally pay less than your home’s full market value, which could impact your financial outcome.
- Limited negotiation: Offers from house-buying companies are often non-negotiable, meaning you’re unlikely to see a higher price if you counter.
- Possible scams: Some less reputable cash buyers might engage in scams, so it’s essential to research potential buyers thoroughly.
- No agent guidance: Selling to a cash buyer means you won’t have an agent to provide insights on pricing, timing, and market conditions.
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 Hot Springs home quickly
iBuyers
iBuyers, like Opendoor and Offerpad, offer near-instant cash offers by using automated valuation models (AVMs) to estimate home values. This mostly online process is fast and convenient, especially if your home is in good condition. iBuyer fees are generally 5%-6%, and they can close in just days to two weeks.
Listing with an agent
Selling with a real estate agent can result in a higher sale price, particularly if you’re in a seller-friendly market. An agent will provide valuable insights, including a comparative market analysis (CMA), which is often free. A top-performing agent can sometimes even connect you with cash buyers. If you’d like to explore this option, HomeLight can connect you with a top agent in your area.
FAQs on Hot Springs house-buying companies
By and large, most We Buy Houses for Cash companies in Hot Springs 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 Hot Springs 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 Hot Springs craftsman bungalow could sell for $350,000 after repairs, but it will need $30,000 of work to get there.
($350,000 x .70) – $30,000 = $215,000
In this example, a Hot Springs We Buy Houses company might offer you around $215,000 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 Hot Springs 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 Hot Springs 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 Hot Springs vs. top Hot Springs 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 Hot Springs | Sell with a top Realtor in Hot Springs |
| Selling timeline | 7 to 30 days | 62 days average; 18 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 | 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 Hot Springs is worth about $350,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $375,000.
| Sell to a We Buy Houses for Cash company in Hot Springs | Sell with a top Realtor in Hot Springs | |
| Estimated sale price | ($375,000 x .70) – $25,000 = $237,500 | $350,000 |
| Market preparations | 0 | $3,500 (1% of sale price) |
| Agent commissions | 0 | $20,300 (5.8% of sale price) |
| Closing costs | 0 | $5,250 (1.5%) |
| Estimated take-home for seller | $237,500 | $320,950 |
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
- Speed and convenience: Cash-for-homes companies in Hot Springs offer a fast, simple solution for selling your home quickly, often closing within days to weeks.
- No repairs needed: These buyers will purchase your property as-is, saving you from the time and expense of fixing up the house.
- Lower offers: Cash buyers typically pay below market value, which could mean a lower final payout compared to listing on the open market.
- Limited negotiation: Offers from house-buying companies are generally non-negotiable, giving you less flexibility if you want to seek a higher price.
- 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 Hot Springs, AR agent.
Header Image Source: (Blake Wheeler/Unsplash)
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