5 Top We Buy Houses for Cash Companies in Lexington
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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 Lexington, We Buy Houses companies allow homeowners who need to dispose of their property quickly the option of obtaining an all-cash offer in a matter of days. This can be particularly appealing for a property that needs extensive repairs, or for sellers that don’t the time or money to invest in making the necessary fixes.
This post will guide you through the advantages and disadvantages of opting for a cash-for-homes company, ensuring you can make the best decision for your situation.
Sell Your House Fast in Lexington 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 Lexington, SC.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Lexington area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Lexington
Navigating a sale with a house-buying company in Lexington can seem daunting, but understanding the steps involved simplifies the process. Here’s a straightforward guide to ensure you know exactly what to expect:
1. Reach out for an offer: Contact a reputable We Buy Houses company in Lexington to express your interest in selling your home. They typically ask for basic information about your property to start the process.
2. Schedule a home assessment: The company will arrange a visit to assess your home’s condition. This evaluation is quick and focuses on understanding the value of your property as-is.
3. Receive an offer: After the assessment, the company will present you with an all-cash offer. This offer is based on the current state of your property and market conditions.
4. Review the offer: Take your time to review the offer. Remember, these companies usually provide a take-it-or-leave-it deal, with little room for negotiation.
5. Accept and close: If you accept the offer, the company will handle most of the closing formalities. Sales can often close in as little as a week, allowing you to access your funds quickly.
6. Move forward: With the sale complete, you can quickly move on to your next chapter without the usual stress and delays of traditional home selling.
Popular We Buy Houses for Cash companies in Lexington
If the process of selling to a house-buying company in Lexington 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 you or your parents’ Lowcountry Cottage or Charleston Single House. By selling to one of these companies, you should be able to sell your Lexington home in as little as a week or two.
Columbia Cash Home Buyers
Columbia Cash Home Buyers is a locally owned real estate investment company based in South Carolina, providing swift solutions for homeowners looking to sell their properties. Established by lifelong residents of South Carolina, offering cash payments without any commissions or fees.
Locations: Columbia and surrounding areas, including Lexington.
Closing costs: Sellers pay no closing costs; Columbia Cash Home Buyers cover them.
Columbia Cash Home Buyers has an average Google rating of 4.4 out of 5 stars. Clients appreciate the professionalism and responsiveness of the team. They also commend the team’s patience in navigating estate issues. The company also boasts a commendable A+ BBB rating.
Website: columbiacashhomebuyers.com
Phone number: 803-592-2353
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Lexington (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 Lexington.
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 Lexington, SC.
Closing costs: No prep costs, no agent commissions, and no 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
Myrtle Beach Home Buyers
Myrtle Beach Home Buyers is a reputable cash home-buying company that operates as a family-owned business. Myrtle Beach Home Buyers purchase properties as-is, eliminating the need for repairs or improvements. The company prides itself on providing local expertise and transparent offers.
Locations: All throughout South Carolina, including Lexington.
Closing costs: Sellers pay no closing costs; Myrtle Beach Home Buyers cover them.
Myrtle Beach Home Buyers holds a 4.9-star rating on Google. The company has been BBB accredited since 2018 and holds an A+ rating. Clients commend Myrtle Beach Home Buyers for their excellent service and smooth home-selling process.
Website: myrtlebeachhomebuyers.com
Phone number: 843-507-5058
Simple Home Exits
Simple Home Exits is a house buying company based in Columbia, founded with the mission to facilitate swift home sales for individuals facing uncertainty. The company will purchase your home regardless of its condition.
Locations: Lexington, SC, and surrounding areas.
Closing costs: Sellers pay no closing costs; Simple Home Exits covers them.
Simple Home Exits receives rave reviews for dedication, professionalism, and seamless transactions. Clients highlight efforts in reducing stress and providing regular updates throughout the selling process, making transactions effortless even for first-time sellers. Simple Home Exits has an average Google rating of 5 out of 5 stars and an A+ BBB rating.
Website: simplehomeexits.com
Phone: 844-488-8455
House Hub Real Estate Solutions
House Hub Real Estate Solutions offers cash to homeowners in Upstate and Midlands, South Carolina. Accredited and fully compliant, House Hub operates with a personalized approach, eliminating paperwork and fees associated with traditional real estate sales.
Locations: Upstate and Midlands, South Carolina, including Lexington.
Closing costs: Sellers pay no closing costs; House Hub Real Estate Solutions covers them.
House Hub Real Estate Solutions has a 4.7-star rating on Google and has been accredited by the BBB with an A+ rating. They receive praise for their professionalism, integrity, and dedication to their clients’ best interests. Clients appreciate their quick and efficient solutions, with some transactions completed in as little as two weeks.
Website: ibuyhomesinsouthcarolina.com
Phone number: 864-272-5400
Why sell your Lexington house for cash?
There are plenty of valid reasons a Lexington home seller may choose to work with a Cash-For-Homes company. The benefits of speed, certainty, and remarkable convenience are leading the list.
In Lexington, it typically takes around 103 days to sell a home on the market using an agent. That includes an average of 57 days on the market plus the typical 46 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 Lexington, 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.
Let’s explore some scenarios where opting for a cash sale might make sense for you.
- Job relocation: If you’re moving for a new job and need to sell quickly, a cash offer allows you to relocate without the burden of a pending home sale.
- Divorce: Selling your home for cash can simplify property division and provide a quick closure during a divorce.
- Inherited a property: An inherited home can come with complexities; a cash sale offers a simple way to distribute assets.
- Downsizing: Ready to move to a smaller home or a retirement community? A cash sale is fast and hassle-free.
- Major repairs needed: If your home needs significant repairs you can’t afford or manage, selling for cash is a practical option.
- Avoiding open houses: Do you prefer not to deal with the stress and invasion of privacy from open houses? Cash buyers don’t require them.
- Foundation issues: Selling a home with foundation problems is easier when you don’t have to fix them first.
- Facing foreclosure: A cash sale can provide a way out if you’re facing foreclosure, allowing you to settle debts quickly.
- Problematic tenants: Sell your rental property as-is, even with tenants in place, to avoid landlord responsibilities.
- Selling from out of state: A cash sale simplifies the process for those selling a Lexington property from out of state.
Pros and cons of house-buying companies in Lexington
When considering selling your home to a house-buying company in Lexington, the appeal often lies in the transaction’s speed and simplicity. These companies can quickly purchase your home in its current condition, eliminating the need for repairs or staging.
Pros:
- Quick sale: The most significant advantage is the ability to close quickly, often within a week, which is ideal for sellers needing fast liquidity.
- Buy as-is: These companies buy your home as-is, meaning you don’t have to spend time or money on repairs, cleaning, or decluttering.
- No real estate fees: Selling to a cash buyer means you avoid realtor commissions and closing costs, which can add up to significant savings.
- Avoid contingencies: Sales rarely fall through due to financing issues or failed inspections, as there are no contingencies like in traditional real estate transactions.
Cons:
- Below market value: The biggest drawback is that these companies typically offer below market value for your home, trading a higher sale price for convenience and speed.
- Limited negotiation: The price offered is often non-negotiable, leaving sellers with a take-it-or-leave-it decision.
- Potential for scams: While many companies are reputable, the sector is ripe for scams. Sellers need to research thoroughly to avoid fraud.
- Less profit: Ultimately, the convenience of a fast sale comes at the cost of lower profit from selling your home.
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.
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 understand better 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 for an initial ballpark estimate in less than two minutes.
Other options to sell your Lexington home quickly
iBuyers: Instant buyers, or iBuyers, utilize automated valuation models to make fast, all-cash offers on homes, generally closer to market value. The iBuyer process, from offer to closing, is expedited and can be completed in just a few days to two weeks. Companies like Opendoor and Offerpad serve sellers with homes in good condition, charging service fees around 5%-6%.
Listing with an Agent: Similar to a cash-for-homes company, working with a top real estate agent can also facilitate a speedy transaction, particularly in a seller’s market. Agents leverage their expertise to price and market your home effectively, potentially securing a sale faster and at a higher price. A key advantage is obtaining a comparative market analysis (CMA), which agents often provide free, helping you to set a competitive selling price.
For those exploring this route, HomeLight can connect you with leading real estate professionals in your area, offering you the chance to evaluate all options thoroughly before making a decision.
FAQs on Lexington house-buying companies
By and large, most We Buy Houses for Cash companies in Lexington 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 Lexington 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 Lexington Charleston Single House could sell for $260,000 after repairs, but it’s going to need $30,000 of work to get there.
($260,000 x .70) – $30,000 = $152,000
In this example, a Lexington We Buy Houses company might offer you around $152,000 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 Lexington We Buy Houses for Cash company, you will likely be coming to grips with a two-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, it’s always a good idea to ask the company if any hidden program fees might impact your bottom line.
1. Research and vet the house-buying companies that serve your Lexington 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 Lexington vs. top Lexington 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 Lexington | Sell with a top Realtor in Lexington |
| Selling timeline | 7 to 30 days | 103 days average; 57 to attract an offer, 46 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 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 put together 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 Lexington is currently worth about $260,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $285,000.
| Sell to a We Buy Houses for Cash company in Lexington | Sell with a top Realtor in Lexington | |
| Estimated sale price | ($285,000 x .70) – $25,000 = $174,500 | $260,000 |
| Market preparations | 0 | $2,600 (1% of sale price) |
| Agent commissions | 0 | $15,080 (5.8% of sale price) |
| Closing costs | 0 | $3,900 (1.5%) |
| Estimated take-home for seller | $174,500 | $238,420 |
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: Selling your Lexington home to a Cash-For-Homes company can be exceptionally fast and convenient, especially if you’re in a hurry or your home needs significant repairs.
- As-is sale: You can sell your home as it stands without investing in repairs or upgrades, which is ideal for those looking to avoid additional expenses.
- Avoiding fees: This route allows you to bypass traditional selling costs, including agent commissions and closing fees.
- Know your options: While selling for cash offers speed, exploring all avenues is crucial to ensure you’re making the best decision for your circumstances.
- 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 Lexington agent.
Header Image Source: (paulbr75/ Pixabay)
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