5 Top We Buy Houses for Cash Companies in Oakland
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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 your house can be complex, especially if you need to move quickly or your property needs some TLC. In Oakland, companies that advertise “We Buy Houses” offer a unique solution: all-cash offers, often for homes that require repairs.
This can be appealing if you lack the time, expertise, or funds for traditional renovations and prefer a fast closing. Facing an unexpected life event or simply wanting to move on without the hassle of a traditional sale can make these cash offers even more tempting.
However, before diving in, it’s important to understand the pros and cons. This guide will break down everything you need to know about working with We Buy Houses companies in Oakland, helping you decide if this route fits your needs.
Sell Your House Fast in Oakland 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 Oakland.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Oakland area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Oakland
Selling your house to a cash-for-homes company in Oakland can be a streamlined process, but key steps are still involved. Here’s a quick overview of the process:
1. Contact a cash buyer: Reach out to reputable companies in Oakland and provide basic information about your property.
2. Schedule a walk-through: A representative will visit your house to assess its condition.
3. Receive a cash offer: The company will present a no-obligation cash offer based on their evaluation.
4. Review the offer: Carefully consider the offer and compare it to the potential value you might achieve through a traditional sale.
5. Accept or decline the offer: If you agree to the terms, proceed with closing the deal.
6. Close the sale: Finalize the paperwork and receive your cash payment.
Popular We Buy Houses for Cash companies in Oakland
If the process of selling to a house-buying company in Oakland 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 parents’ Craftsman and Tudor-style homes. By selling to one of these companies, you should be able to sell your Oakland home in as little as a week or two.
John Buys Bay Area Houses, Oakland
John Buys Bay Area Houses, a locally owned small business, offers a hassle-free process for selling your SF Bay Area home. Simply fill out a short form or give a call. Get a cash offer in seven minutes.
Locations: Serves California, including Oakland
Closing costs: Sellers pay no closing costs; John Buys Bay Area Houses covers them.
John Buys Bay Area Houses has been BBB accredited since 2020 and holds an A+ rating. As noted in a BBB review, John Buys Bay Area Houses has earned a reputation for delivering on promises. They hold a 4.8-star Google rating.
Website: johnbuysbayareahouses.com/we-buy-houses-in-oakland-ca
Phone number: 510-283-9871
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Oakland (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 Oakland.
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 Oakland
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
We Buy Houses, Oakland
WeBuyHouses.com was founded in 1997, and buys houses in 200 markets and 30 states in any condition. A no-obligation cash offer is usually available within 24 to 48 hours after their tour. If the offer is accepted, closing the sale typically takes seven to 14 days.
Locations: Nationwide, including Oakland
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. Customer reviews for WeBuyHouses.com speak to their professionalism and understandable procedure. They express how convenient and easy the process was for completing the sale.
Website: webuyhouses.com/CA/oakland
Phone number: 877-932-8946
Priority Home Buyers, Oakland
Priority Home Buyers was founded in Las Vegas, NV, in 2008. They offer a streamlined process where homeowners can receive fast, fair, and competitive cash offers within one hour, leading to quick closings in as little as seven days.
Locations: Nationwide, including Oakland
Closing costs: Sellers pay no closing costs; Priority Home Buyers cover them.
Priority Home Buyers has been BBB accredited since 2023 and holds an A+ rating. Priority Home Buyers maintains an exceptional 5.0 Google star rating based on over 20 reviews. A recent customer shared their experience, noting the team’s empathetic, respectful, and transparent approach.
Website: priorityhomebuyers.com/sell-my-house-fast-oakland-california/
Phone number: 877-399-1777
Skye Homes, Oakland
Skye Homes, founded in 2016 by Jake and Apple Knight, is a direct home-buying company based in Northern California that has expanded its operations nationwide. Jake Knight, t has been a residential real estate investor since 2016, specializing in acquiring and renovating houses in the Bay Area, Sacramento, and over 15+ states.
Locations: Sacramento, San Jose, Concord, San Francisco, The Bay Area, Oakland, surrounding areas, and all 50 states.
Closing costs: Sellers pay no closing costs; Skye Homes covers them.
Skye Homes has been BBB accredited since 2023 and holds an A+ rating. Skye Homes has a 4.9 Google star rating. A recent customer highlighted Jake’s kindness, genuine concern, and commitment, describing him as more than just a realtor but a true partner throughout the home-selling journey.
Website: skyehomes.com/locations/ca/oakland
Phone number: 866-207-1940
Why sell your Oakland house for cash?
There are plenty of valid reasons an Oakland 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 Oakland, it typically takes around 77 days to sell a home on the market using an agent. That includes an average of 30 days on the market, plus the typical 47 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 Oakland, 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 choosing a house-buying company might be a good fit:
- Need a quick sale: Facing a life change like a job relocation, divorce, or medical emergency and need to sell quickly.
- Extensive repairs needed: Your house has significant repairs that you lack the time, funds, or desire to undertake before selling.
- Avoiding traditional hassles: You don’t want the stress of prepping the home, open houses, negotiations, and a potentially lengthy closing process.
- Cash needed fast: You need to access cash quickly to settle debts, pay for medical expenses, or invest in other opportunities.
- Inherited property: You need to sell an inherited property quickly and conveniently without managing upkeep or dealing with tenants.
- Out-of-state seller: You’re located far from the property and prefer an easier, quicker cash sale solution, especially when selling from out of state.
- Facing foreclosure: You want to avoid foreclosure and settle your debts by selling the house fast.
- Tired of being a landlord: You no longer want to manage a rental property or deal with tenant issues.
- Downsizing: You’re downsizing or moving to a retirement community and need to sell your current house conveniently.
Pros and cons of house-buying companies in Oakland
At this point, you’ve probably noticed that We Buy Houses for Cash companies in Oakland can trigger a mixed bag of thoughts that can be difficult to sort. You may like the idea of speed and convenience, but you might be having trouble balancing these with the premium you might pay for a cash-offer service.
In this next section, we’ll walk you through some of the pros and cons of using a We Buy Houses company so you can better weigh your options.
Pros
House-buying companies in Oakland offer a unique solution for sellers looking for speed and convenience. With the ability to purchase your home in any condition, these companies eliminate the need for repairs or preparations, making them an attractive option for many.
Pros:
- Speed of sale: House-buying companies in Oakland can often close on a property in a matter of days, providing a quick and efficient selling process for homeowners in urgent need.
- Buy as-is: These companies purchase homes as-is, meaning you won’t have to spend time or money on repairs or home staging to make your property more appealing.
- No real estate commissions: Selling to a house-buying company means you avoid realtor commissions, potentially saving thousands of dollars.
- Avoid contingencies: Sales to these companies typically don’t involve contingencies, which can delay or derail sales through traditional real estate transactions.
Cons:
- Below market value: One of the biggest drawbacks is that these companies will likely offer below market value for your home, which can significantly reduce your potential profit.
- Limited negotiation: The offer you receive is often non-negotiable, giving sellers less control over the sale price.
- Potential for scams: Sellers should be cautious of scams, as not all house-buying companies operate ethically or transparently.
- Less market exposure: By selling directly to a house-buying company, you miss out on the possibility of receiving higher offers through 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
Working with a cash-for-homes company can be a fast and convenient option, but remember, the quality of service and professionalism can vary greatly. It’s crucial to vet the company thoroughly before accepting any offer.
Research the company’s reputation, check online reviews, and look for complaints or negative testimonials. Ensure they have a legitimate presence in the Oakland market and a positive track record. Finally, before signing any agreement, carefully read and understand all the terms and conditions to avoid surprises.
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 Oakland home quickly
iBuyers: iBuyers, or instant buyers, utilize automated valuation models (AVMs) to offer a quick, mostly online selling process. Launching in the mid-2010s, they provide all-cash offers near market value for well-maintained homes, with the entire iBuyer process from offer to close taking as little as a few days to two weeks. While they typically charge service fees of 5%-6%, platforms like Opendoor and Offerpad are ideal for sellers with homes in good condition in uniform housing markets.
Listing with an agent: Despite the focus on quick-sale options, listing with an experienced real estate agent can be surprisingly swift in seller-friendly markets. Strategic pricing and marketing can lead to rapid sales, often at the highest price point.
Agents can provide valuable insights with a comparative market analysis (CMA), which is often free and helps set competitive listing prices. Exploring this avenue through HomeLight could connect you with top agents and potential cash buyers, ensuring a well-informed decision if choosing to sell to a house-buying company.
FAQs on Oakland house-buying companies
By and large, most We Buy Houses for Cash companies in Oakland 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.
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 Oakland Tudor home could sell for $695,000 after repairs, but it’s going to need $30,000 of work to get there.
($695,000 x .70) – $30,000 = $456,500
In this example, an Oakland We Buy Houses company might offer you around $456,500 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 an Oakland 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 the offer is accepted. On the other side, 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 is going to be the price you walk away with at the end of the deal. Of course, it’s always a good idea to flat-out ask the company if there are any hidden program fees that might impact your bottom line.
1. Research and vet the house-buying companies that serve your Oakland 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 Oakland vs. top Oakland 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 Oakland | Sell with a top Realtor in Oakland |
| Selling timeline | 7 to 30 days | 77 days average; 30 to attract an offer, 47 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 Oakland is currently worth about $700,000 and needs about $50,000 in repairs. Once the repairs are completed, the home might be worth around $750,000.
| Sell to a We Buy Houses for Cash company in Oakland | Sell with a top Realtor in Oakland | |
| Estimated sale price | ($750,000 x .70) – $50,000 = $475,000 | $700,000 |
| Market preparations | 0 | $7,000 (1% of sale price) |
| Agent commissions | 0 | $40,600 (5.8% of sale price) |
| Closing costs | 0 | $10,500 (1.5%) |
| Estimated take-home for seller | $475,000 | $641,900 |
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 to a house-buying company in Oakland provides a swift transaction without the hassles of repairs, staging, or hosting potential buyers.
- Below market value: While these companies offer quick cash, their offers typically fall below what you might achieve in a conventional home sale. Consider the tradeoffs and decide if the offered price aligns with your objectives.
- Vet the cash-offer company: Not all cash buyers are created equal. Do your due diligence, ensuring the company or individual is reputable and trustworthy.
- Compare your options: Don’t limit your options. iBuyers and leading Oakland real estate agents can often offer alternative routes that might secure you a better deal.
- Know your home’s value: Equip yourself with comprehensive knowledge. Obtain a comparative market analysis to determine the worth of your Oakland home, ensuring you’re making an informed decision.
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 Oakland agent.
Header Image Source: (12019/ Pixabay)
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