We Buy Houses Lake Wales, FL: Top 5 Companies
- Published on
- 15 min read
-
Joseph Gordon EditorCloseJoseph Gordon Editor
Joseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
Selling your home in Lake Wales, FL, can be tough when facing a tight deadline. We Buy Houses companies offer cash offers for as-is homes, meaning the property’s condition isn’t a factor. This makes it easier to sell quickly without spending the time or money on costly repairs.
For homeowners who need a fast and hassle-free sale, these companies provide a practical alternative to the traditional real estate market for selling your home.
This guide breaks down the pros and cons of working with house-buying companies in Lake Wales and compares them to other fast-sale options like iBuyers and top agents to help you make an informed decision.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Lake Wales area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Lake Wales
Selling your home to a house-buying company in Lake Wales is designed to be a quick and easy process. Here’s how it typically works:
- Contact the company: Contact a reputable house-buying company and provide basic details about your property, such as location, size, and condition.
- Schedule a home assessment: The company will schedule a visit to assess your home and determine its value for a cash offer
- Receive a cash offer: After the assessment, you’ll receive a no-obligation cash offer, often within 24-48 hours.
- Review the terms: Carefully review the offer, including the purchase price, closing timeline, and any fees.
- Accept the offer:If satisfied with the terms, sign the agreement to move forward.
- Close the deal: Work with the company to finalize the sale, typically within a week or two, and receive your cash payment.
Popular We Buy Houses for Cash companies in Lake Wales
If the process of selling to a house-buying company in Lake Wales 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’ ranch-style or Spanish revival home. By selling to one of these companies, you should be able to sell your Lake Wales home in as little as a week or two.
Revival Homebuyer
Revival Homebuyer is a local, family-owned homebuyer specializing in the Tampa Bay housing market. It’s committed to being “honest, straightforward, and reliable in every home purchase.” In the past five years, it has successfully bought over 1,000 properties, helping homeowners sell homes quickly at a competitive price.
Locations: All over St. Petersburg, including Lake Wales.
Closing costs: Sellers pay no closing costs; The Local House Buyers covers them.
Since 2019, Revival Homebuyer has been BBB-accredited, holding an A+ rating. Given the team’s professionalism, it has achieved an impressive 5.0 Google rating.
Website: revivalhomebuyer.com
Phone number: 813-548-3674
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Lake Wales (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 Lake Wales.
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 Lake Wales
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
Optimal Home Buyers
Optimal Home Buyers is a real estate solutions company specializing in purchasing homes for cash. They offer homeowners a streamlined and efficient selling experience, eliminating the need for repairs, commissions, or lengthy closing processes.
Locations: Serves various areas in Florida, including Lake Wales.
Closing costs: Sellers pay no closing costs; Optimal Home Buyers cover them.
Optimal Home Buyers has a 4.7-star rating on Google.
Website: optimalhomebuyers.net
Phone number: 866-982-5370
Max Home Solutions
Max Home Solutions is a Florida-based real estate investment company specializing in purchasing homes for cash, regardless of the condition. It often closes deals in under two weeks, allowing homeowners to choose their move-out date. Sellers pay no closing costs, as Max Home Solutions covers them.
Locations: Across Florida, including Lake Wales.
Closing costs: Sellers pay no closing costs; Max Home Solutions covers them.
Max Home Solutions has a 5.0-star rating on Google. The company has also been accredited by the Better BB) since January 28, 2024, with an A- rating.
Website: housefastcashfl.com
Phone number: 561-944-5543
We Buy Houses
WeBuyHouses.com was founded in 1997 and buys houses in 200 markets and 30 states in any condition. According to their website, they have been trusted by 1 million homeowners and can present a cash offer even if the homeowner is behind on their mortgage or facing foreclosure.
Locations: Nationwide, including Lake Wales.
Closing costs: Sellers pay no closing costs; WeBuyHouses.com covers them.
WeBuyHouses.com has been BBB accredited since August 2020 and has an A+ rating.
Website: webuyhouses.com
Phone number: 904-674-8004
Why sell your Lake Wales house for cash?
Selling your home for cash is a good option for sellers who can’t afford to wait for the long process of selling their home via a real estate agent.
In Lake Wales, it typically takes around 103 days to sell a home on the market using an agent. That includes an average of 59 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 Lake Wales, 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 common scenarios where a cash sale could work for you:
- Job relocation: If you need to move quickly for a new job, a cash sale can help you avoid delays.
- Divorce: Selling your home during a divorce can provide a clean financial break and simplify dividing assets.
- Inherited property: Managing a home you’ve inherited can be overwhelming, especially if it needs work or is far away.
- Downsizing: If you’re downsizing and don’t want to invest in updates, selling for cash offers a simpler solution.
- Repairs needed: Selling a house that needs major repairs can be easier with a cash offer since no fixes are required.
- Avoiding open houses: If you’d rather skip the inconvenience of hosting open houses, a cash sale eliminates the need for showings.
- Foundation issues: Dealing with foundation problems can deter buyers, but cash buyers are often willing to take on these challenges.
- Facing foreclosure: A cash sale can help you avoid foreclosure and protect your credit score.
- Difficult tenants: Selling a home with tenants can be smoother with a cash-for-homes company familiar with landlord situations.
- Selling from out of state: Managing a home sale remotely is easier when working with a cash buyer who simplifies the process.
Pros and cons of house-buying companies in Lake Wales
If speed and convenience are your top priorities, working with a house-buying company in Lake Wales can be a great option. These companies purchase homes as-is, requiring no repairs or preparations and offering fast closings. Below are some key benefits to consider:
Pros of selling to a house-buying company
- Sell as-is: You don’t need to make any repairs or clean your house. House-buying companies purchase properties in their current condition, saving you time and effort.
- Quick closing: Cash buyers typically close within 7-14 days, which is significantly faster than traditional home sales that may involve contingencies.
- No showings or open houses: Skip the hassle of hosting open houses or keeping your home spotless for showings.
- Guaranteed offer: Once you receive a cash offer, it’s typically final, without the worry of contingencies or financing falling through.
While the speed and ease of a cash sale are appealing, there are trade-offs. The biggest drawback is that you’ll likely receive below market value for your home compared to selling it on the open market. Here’s a look at the key cons to keep in mind:
Cons of selling to a house-buying company
- Lower sale price: Cash offers are typically below market value, reflecting the convenience and risk the buyer takes on.
- Limited negotiation: Most offers are take-it-or-leave-it, leaving you with little room to negotiate terms or price.
- Potential scams: Some companies may not be legitimate, and homeowners can fall victim to home-buying scams. Vetting companies is essential.
- Loss of competitive exposure: Selling directly to a cash buyer means missing out on the competitive offers you might receive by listing with an agent.
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 Lake Wales home quickly
If selling to a house-buying company doesn’t feel right, here are two alternative ways to sell your home quickly:
iBuyers
iBuyers like Opendoor and Offerpad use automated valuation models to provide nearly instant cash offers, often closer to market value for homes in good condition. These tech-driven companies offer a fast, mostly online process, with closings in as little as a few days to two weeks. However, they typically charge service fees of 5%-6%. Learn more about the iBuyer process.
Listing with an agent
A top-performing real estate agent can help you sell quickly, especially in a seller-friendly market. They can create a competitive listing strategy and provide a comparative market analysis (CMA)—a report that evaluates your home’s value. CMAs are often free. Many agents also have connections with buyers offering cash, allowing you to explore multiple options before deciding. HomeLight can connect you with a top agent in your area today.
FAQs on Lake Wales house-buying companies
By and large, most We Buy Houses for Cash companies in Lake Wales 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 Lake Wales 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 Lake Wales ranch-style could sell for $274,000 after repairs, but it will need $30,000 of work to get there.
($274,000 x .70) – $30,000 = $161,800
In this example, a Lake Wales We Buy Houses company might offer you around $161,800 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 Lake Wales 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 Lake Wales 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 Lake Wales vs. top Lake Wales 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 Lake Wales | Sell with a top Realtor in Lake Wales |
Selling timeline | 7 to 30 days | 103 days average; 59 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 Lake Wales is worth about $274,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $299,000.
Sell to a We Buy Houses for Cash company in Lake Wales | Sell with a top Realtor in Lake Wales | |
Estimated sale price | ($299,000 x .70) – $25,000 = $184,300 | $274,000 |
Market preparations | 0 | $2,740 (1% of sale price) |
Agent commissions | 0 | $8,220 (3%) |
Closing costs | 0 | $4,110 (1.5%) |
Estimated take-home for seller | $184,300 | $258,930 |
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 Lake Wales provide fast closings, often within a week or two, without requiring repairs or staging.
- You’ll sell as-is: These companies purchase homes in any condition, saving you time and money on updates and fixes.
- Lower offers are common: Cash-for-homes companies typically provide below market value offers, reflecting the convenience and speed they provide.
- Scams can happen: Always vet cash buyers carefully to ensure you’re working with a reputable and trustworthy company.
- Agents may uncover better options: A top Lake Wales real estate agent can provide a comparative market analysis to show how much your home might sell for on the open market.
- 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 Lake Wales agent.
Header Image Source: (Nick Adams/Pexels)