We Buy Houses Mckinney, TX: 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.
Selling a house in McKinney, TX, can feel impossible, especially if you need to sell quickly. If your property needs work or your under a tight deadline, working with a “We Buy Houses” company could provide a fast and hassle-free solution. These companies are experts in making cash offers for homes, regardless of the property’s condition, allowing you to skip repairs and close quickly.
A cash sale can be ideal when life throws you a curveball, like a job relocation, divorce, or unexpected financial strain. It’s a practical option for homeowners who need a quick sale without the lengthy process of prepping and marketing their home.
In this guide, we’ll explore the pros and cons of selling to cash-for-homes companies in McKinney and offer tips to help you decide if this approach suits your needs.
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Working with house-buying companies in McKinney
Selling your home to a house-buying company in McKinney can be a straightforward and easy process. Here’s a simple overview of how it works:
- Contact a company: Reach out to a local house-buying company and provide details about your property. They may ask about your home’s condition, location, and other basic information.
- Schedule a visit: The company will likely schedule an in-person or virtual walkthrough to evaluate your home. This step helps them determine their cash offer.
- Receive a cash offer: After assessing your property, the company will present you with a no-obligation cash offer. These offers are often take-it-or-leave-it.
- Review the offer: Carefully review the offer and any associated terms. Make sure you understand the agreement before proceeding.
- Accept the offer: If you’re satisfied, you can accept the offer and sign the agreement. This usually initiates the closing process.
- Close the deal: The closing process is typically quick and handled by the buyer. You’ll receive your payment shortly after finalizing the paperwork.
Popular We Buy Houses for Cash companies in McKinney
If the process of selling to a house-buying company in McKinney 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’ Victorian home or craftsman-style home. By selling to one of these companies, you should be able to sell your McKinney home in as little as a week or two.
Myers Home Buyers
Myers Home Buyers is a trusted name in the Dallas market. Established to offer homeowners an alternative to traditional selling methods, Myers has grown from a small team to helping thousands sell distressed homes across two states. They value your home, regardless of its condition, and aim to get you the best offer, allowing you to keep more of your home equity.
Locations: Throughout Texas and Florida, including McKinney
Closing costs: Sellers pay no closing costs; Myers Home Buyers covers them.
Myers Home Buyers has been BBB accredited since 2014 and holds an A+ rating, and holds more than 160 reviews on Google averaging 4.7 stars.
Website: myershomebuyers.com
Phone: 866-771-2250
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in McKinney (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 McKinney.
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 McKinney
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
Keyroo
Keyroo is an newer company in the Dallas market. Keyroo offers sellers the option of a direct cash offer, or a vetted investor auction with competing bids, with the company’s cash offer as a standing alternative.
Locations: Across the Dallas area, including McKinney
Closing costs: Sellers pay no closing costs; Keyroo covers them
Keyroo is not yet BBB accredited, but despite its newness to the market, this company already has an A+ rating. The company has also earned a a 5-star rating on Google.
mykeyroo.com
Phone: 469-425-8928
Home Buying Guys
Home Buying Guys is a small, Plano-based company. It offers a “no-stress MLS” option where they’ll list the home in “as is” condition.
Locations: Plano, Texas and surrounding areas, including McKinney
Closing costs: Sellers pay no closing costs; Home Buying Guys covers all the fees and charges no real estate commission.
Home Buying Guys has been BBB accredited since 2018 and has an A+ rating. The company has a 4.9-star rating and more than 70 reviews on Google.
homebuyingguys.com
Phone: 866-847-3565
Southern Hills Home Buyers
Southern Hills Home Buyers is a family-owned and operated business based in Plano. In addition to buying properties from homeowners who need to sell quickly for cash, the company purchases residential properties from investors and will also buy commercial properties.
Location: Plano, Texas and surrounding areas, including McKinney
Closing costs: Sellers pay no closing costs or commission; Southern Hills Home Buyers covers them.
Southern Hills Home Buyers has been BBB accredited since 2021 and has an A+ rating. The company has a 5.0 rating and over 200 reviews on Google.
southernhillshomebuyers.com
Phone number: 214-225-3042
Why sell your McKinney house for cash?
When you’re strapped for the much-needed cash to bring your home up to speed to sell on the open market, or simply can’t wait to unload your property, a We Buy Houses company in McKinney is a good alternative to selling via traditional means.
In McKinney, it typically takes around 107 days to sell a home on the market using an agent. That includes an average of 63 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 McKinney, 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 of the most common scenarios where selling for cash makes sense:
- Job relocation: You need to sell your home quickly to move for a new job opportunity.
- Divorce: You’re looking for a fast way to divide assets and move forward after a divorce.
- Inherited property: You’ve inherited a home that you don’t plan to keep and want to sell it easily.
- Downsizing: You’re ready to move into a smaller space and prefer to avoid the hassles of downsizing.
- Repairs: Your house needs extensive repairs, and you don’t have the resources to fix it before selling.
- Avoiding open houses: You’d rather skip the stress of hosting open houses and endless showings.
- Foundation issues: Your property has significant foundation problems, and you need an as-is buyer.
- Foreclosure: You’re facing foreclosure and need to sell quickly to avoid further financial repercussions.
- Tenant problems: You’re a landlord dealing with problem tenants and want to sell the property as-is.
- Selling from out of state: You own a property in McKinney but live elsewhere, making selling from out of state more convenient with a cash buyer.
Pros and cons of house-buying companies in McKinney
Selling to a house-buying company in McKinney has its advantages and drawbacks. Let’s look at the biggest pros and cons to help you decide if this option fits your needs.
Pros of selling to a house-buying company
House-buying companies offer significant benefits for homeowners in McKinney who need to sell quickly. Here are the main advantages:
- Fast closings: These companies can complete the transaction in as little as a few days, making them ideal for urgent situations.
- Sell as-is: You don’t need to make repairs or stage your home. They buy it in its current condition, saving you time and money.
- No contingencies: Unlike traditional sales, cash offers often come with fewer contingencies, providing a smoother process.
- Convenience: With no showings, open houses, or marketing efforts required, the process is straightforward and hassle-free.
Cons of selling to a house-buying company
While house-buying companies offer convenience, there are also downsides to consider:
- Lower offers: These companies typically pay below market value to account for their profit margins and risk.
- Limited negotiation: The offers are usually take-it-or-leave-it, leaving little room for price discussions.
- Potential scams: Some cash buyers operate dishonestly. Be cautious and watch for scams.
- Missed market opportunities: Selling on the open market may yield a higher price, especially in a seller-friendly market.
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 service and integrity from house-buying companies in McKinney can vary widely. Before committing to a cash offer, take these steps to ensure you’re working with a reputable buyer:
- Check reviews: Look for online reviews and testimonials from previous sellers to gauge the company’s reputation and reliability.
- Research the company: Investigate their presence in the McKinney market. A well-established company is more likely to offer a smooth transaction.
- Verify credentials: Confirm the company’s credentials, such as business licenses or accreditations, to ensure they operate legally.
- Read the contract carefully: Review all terms and conditions before signing, so you understand the agreement.
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 McKinney home quickly
If a house-buying company doesn’t feel like the right fit, here are other quick-sale options:
- iBuyers: Companies like Opendoor and Offerpad offer cash for homes using automated valuation models. While their offers are closer to market value, they often charge service fees of 5%-6%. Learn about the iBuyer process to see if it’s right for you.
- Listing with an agent: Selling on the open market with a top real estate agent can yield higher offers. A skilled agent can provide a comparative market analysis (CMA)—often free—to help you price your home strategically for a quick sale. HomeLight can connect you with a proven agent who understands the McKinney market.
FAQs on McKinney house-buying companies
By and large, most We Buy Houses for Cash companies in McKinney 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 McKinney 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 McKinney craftsman-style home could sell for $475,600 after repairs, but it will need $30,000 of work to get there.
($475,600 x .70) – $30,000 = $302,500
In this example, a McKinney We Buy Houses company might offer you around $302,500 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 McKinney 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 McKinney 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 McKinney vs. top McKinney 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 McKinney | Sell with a top Realtor in McKinney |
| Selling timeline | 7 to 30 days | 107 days average; 63 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 McKinney is worth about $450,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $475,000.
| Sell to a We Buy Houses for Cash company in McKinney | Sell with a top Realtor in McKinney | |
| Estimated sale price | ($475,000 x .70) – $25,000 = $307,500 | $450,000 |
| Market preparations | 0 | $4,500 (1% of sale price) |
| Agent commissions | 0 | $13,500 (3%) |
| Closing costs | 0 | $6,750 (1.5%) |
| Estimated take-home for seller | $307,500 | $425,250 |
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 simplicity: Selling to a house-buying company offers a quick, straightforward way to sell your McKinney home, often in as-is condition.
- Lower offers: Be prepared to receive less than market value compared to traditional sales.
- Other options: Consider iBuyers or listing with a top agent if you want to explore alternative ways to sell quickly.
- Due diligence: Always vet house-buying companies and carefully review contracts before proceeding.
- Know your home’s worth: Use tools like HomeLight’s Home Value Estimator and consult with an agent to understand your home’s market value.
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 Mckinney, TX agent.
Editor’s note: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of McKinney area “We Buy Houses” companies should not be considered an endorsement.
Header Image Source: (trongnguyen/DepositPhotos)
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.