We Buy Houses Lafayette: 5 Top 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.
In Lafayette, companies that offer “We Buy Houses” can be a lifeline if you need to sell your home immediately.
They provide all-cash offers, particularly for homes needing significant repairs, allowing sellers who lack the time, resources, or expertise for renovations to expedite the sales process.
Maybe you’re dealing with the stress of settling an estate and need to liquidate an inherited property quickly, or you simply can’t wait months for your home to sell on the open market. Whatever your situation, selling your Lafayette home for cash might be the perfect solution to move forward with your plans without delay.
This post will guide you through the pros and cons of cash sales, helping you weigh your options effectively and choose the right path for selling your home. We will also show you how the process works and offer alternatives.
Sell Your House Fast in Lafayette With a Cash Offer
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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 Lafayette area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Lafayette
Selling your Lafayette home to a house-buying company is a straightforward process, but there are a few steps you should be aware of. Here’s a brief look at what you can expect:
1. Reach out to the company: Contact a house-buying company in Lafayette. Most will have a form on their website to complete or require a simple phone call. They typically require some basic information about your property to get started.
2. Schedule a home assessment: The company will arrange a visit to assess your property. This evaluation helps them determine the fair value of your home based on its current condition and market factors.
3. Receive an offer: The company will present you with a cash offer after the assessment. This offer is usually non-negotiable, so it’s important to consider it carefully.
4. Review the terms: Take some time to review the terms of the offer. Make sure you understand all of the details, including any fees or conditions, before proceeding.
5. Accept the offer: If you like the offer, great! Accept it, and you’re almost done.
6. Close the sale: The final step is the closing, where you will sign the necessary paperwork and receive the cash for your home. This entire process can often be completed in a few days.
Popular We Buy Houses for Cash companies in Lafayette
If the process of selling to a house-buying company in Lafayette 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’ Acadian or Creole-style property. By selling to one of these companies, you can sell your Lafayette home in as little as a week or two.
Stewardship Properties
Stewardship Properties was established in 1989 by Bill Syrios. They specialize in transforming distressed properties into quality affordable housing. The company also uses private lenders to better fund its acquisitions.
Locations: Lafayette and surrounding areas.
Closing costs: Stewardship Properties often pays for closing costs.
Customers appreciated the ease of communication through both phone and text. A standout feature for clients is the company’s fair cash offers for houses, complemented by their thorough explanation of how they arrive at their offer figures. They have a Google review rating of 4.2.
Website: stewardshipproperties.com/louisiana/lafayette
Phone number: 1-855-808-5208
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Lafayette (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 Lafayette.
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 Lafayette.
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
New Again Houses
New Again Houses was founded in 2008. New Again Houses has also developed proprietary software to assist their national network of franchise owners in confidently flipping houses in their local markets.
Locations: New Again Houses serves homeowners in various locations, including Lafayette.
Closing costs: Sellers pay no closing costs; New Again Houses covers them.
New Again Houses has an A+ rating with the Better Business Bureau (BBB). Customers have praised the company’s professionalism, patience, and helpfulness throughout the process. Other customers have mentioned the company’s compassion, care, and ease of finding a home through their service.
Website: newagainhouses.com/locations/la/lafayette
Phone number: 423-389-9110
Bigger Equity
BiggerEquity is a nationwide house-buying company that began operations in 2016. The company says it can make a cash offer in as little as seven minutes and close as quickly as seven days.
Locations: BiggerEquity buys houses throughout Louisiana, including Lafayette. The company serves homeowners in all 50 U.S. states.
Closing costs: Sellers pay no closing costs; BiggerEquity covers them.
BiggerEquity has been BBB accredited since 2018 and holds an A+ rating and 4.8 stars on Google. Customer reviews on Google for BiggerEquity speak to a smooth, transparent, and up-front process without pressure or surprises.
Website: biggerequity.com/louisiana/lafayette
Phone number: 866-333-8377
House Buyer Network
House Buyer Network is a nationwide company established in 2004, specializing in buying houses for cash. They serve various locations, including Lafayette and have a reputation for helping homeowners facing challenges such as job relocation, expensive home repairs, inheritance, financial distress, and more.
Locations: Nationwide, including Lafayette.
Closing costs: Sellers pay no closing costs; House Buyer Network covers them.
The company has received positive feedback from customers who appreciate their quick and efficient service. According to their website, homeowners have praised the company for its transparency, ease of the selling process, and the ability to buy houses in various conditions.
Website: housebuyernetwork.com/house-buyers-lafayette-louisiana
Phone number: 855-835-2544
Why sell your Lafayette house for cash?
Why do people choose to sell their home for cash? Often, time is a major factor. Compared to a traditional real estate transaction, selling your home to a cash-for-homes company can often be completed in a matter of days, as opposed to several weeks (or even months.)
In Lafayette, it typically takes around 92 days to sell a home on the market using an agent. That includes an average of 50 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 Lafayette, 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 situations where you might want to sell your property for cash:
- Job relocation: When you need to move quickly for a new job opportunity, selling for cash can expedite the process.
- Divorce: Simplify property division by selling your home quickly and splitting the proceeds during a divorce.
- Inherited property: Selling for cash offers a straightforward way to handle an inherited home if you’re unable to manage or maintain it.
- Downsizing: A fast, hassle-free sale helps you focus on moving into retirement without the stress of a traditional home sale.
- Major repairs needed: If your home requires significant repairs, selling directly to a cash buyer avoids the need for renovation.
- Avoiding open houses: Selling directly can be appealing if you prefer to avoid open houses and the hassle they entail.
- Facing foreclosure: Selling your home quickly can help you manage foreclosure by settling debts promptly.
- Problematic tenants: A quick cash sale can be a solution if you’re dealing with problematic tenants in a rental property.
- Selling from afar: Manage the sale of your Lafayette home from out of state with less complication through a direct cash offer.
Pros and cons of house-buying companies in Lafayette
Selling your home to a house-buying company in Lafayette offers several advantages, especially if you’re looking for a quick sale or if your property needs significant work.
Pros of selling to a house-buying company:
- Quick closing: House-buying companies can close on your property in as little as a week, which is ideal if you need to move quickly.
- No repairs needed: You can sell your house in its current condition, avoiding the cost and time involved in making repairs.
- Simple process: The sale process is straightforward, with fewer steps and less paperwork than traditional real estate transactions.
- No real estate fees: Selling directly to a buyer means no real estate agent fees, which can save you thousands of dollars.
However, this convenience can come at a cost, primarily because you will receive an offer that is below market value.
Cons of selling to a house-buying company:
- Lower offers: You may receive an offer that is below market value, which is the trade-off for the convenience and speed of a cash sale.
- Potential for scams: While many companies are reputable, there’s a risk of encountering scams. It’s crucial to do thorough research and choose a trustworthy company.
- Less negotiation power: The offers from cash-buying companies are typically non-negotiable, giving you less control over the sale price.
- No market exposure: Selling to a cash buyer means your property won’t be listed, which could limit potential offers that might come from broader market exposure.
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
Before you commit to a cash offer for your Lafayette home, you should know that not all cash buyers are the same. While not common, scams and less-than-reputable buyers exist.
Here’s how you can ensure you’re working with a reputable buyer:
- Check reviews and testimonials: Read what previous sellers have to say about their experiences. Positive reviews and testimonials can give you confidence in the company’s reliability.
- Research the company: Look into how long it has been in business and its track record in Lafayette. A well-established presence is often a good indicator of credibility.
- Understand the agreement: Before signing any buying agreement, thoroughly understand all the terms. Pay close attention to any contingencies that might affect the sale.
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 Lafayette home quickly
Selling your home quickly doesn’t only mean working with cash-for-homes companies. Here are some notable and trustworthy alternatives:
iBuyers: iBuyers like Opendoor and Offerpad use automated valuation models to offer fast, data-driven purchase prices for homes in good condition. While generally offering prices closer to market value, they also charge service fees of 5%-6%. The entire iBuyer process, from offer to closing, is expedited, often completed in just a few days to two weeks.
Listing with an agent: For homes in seller-friendly markets, listing with a top real estate agent might still ensure a quick sale. Agents utilize tools like a Comparative Market Analysis (CMA), which is often free, to price homes competitively, enhancing the chance of a fast transaction. Agents might also connect you with cash buyers. If you’re exploring this option, HomeLight can connect you with a top agent in your area.
FAQs on Lafayette house-buying companies
By and large, most We Buy Houses for Cash companies in Lafayette 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 Lafayette 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 Lafayette acadian home could sell for $227,000 after repairs, but it will need $30,000 of work to get there.
($350,000 x .70) – $30,000 = $128,900
In this example, a Lafayette We Buy Houses company might offer you around $128,900 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 Lafayette 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.
1. Research and vet the house-buying companies that serve your Lafayette area. Our list above is a good place to start.
2. Submit offer requests to a few of the companies you like best.
3. Schedule any required on-site property visits.
4. Compare offers. Weigh the pros and cons and choose the best option for you.
5. 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 Lafayette vs. top Lafayette 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 Lafayette | Sell with a top Realtor in Lafayette |
| Selling timeline | 7 to 30 days | 92 days average; 50 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 for Cash company and an agent-assisted sale.
Let’s say your home in Lafayette is worth about $227,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $252,000.
| Sell to a We Buy Houses for Cash company in Lafayette | Sell with a top Realtor in Lafayette | |
| Estimated sale price | ($252,000 x .70) – $25,000 = $151,400 | $227,000 |
| Market preparations | 0 | $2,270 (1% of sale price) |
| Agent commissions | 0 | $13,166 (5.8% of sale price) |
| Closing costs | 0 | $3,405 (1.5%) |
| Estimated take-home for seller | $151,400 | $208,159 |
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
Here are the key takeaways to consider when thinking about selling your Lafayette home to a cash-for-homes company:
- Quick sale: Cash-for-homes companies can close on your property rapidly, often within days.
- No repairs: You can sell your home as-is, avoiding the hassle and expense of making repairs.
- Simple process: These companies streamline the selling process, reducing paperwork and eliminating typical selling stressors.
- Lower offers: Be prepared that offers may be below market value, reflecting the trade-off for convenience and speed.
- 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 Lafayette agent.
Header Image Source: (Ronnie George/ Unsplash)
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