7 Top We Buy Houses for Cash Companies in OKC

Popular We Buy Houses for Cash companies in OKC

If this process of selling to a house-buying company in OKC 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 Craftsman house or your parents’ ranch-style home. By selling to one of these companies, you should be able to sell your Oklahoma City home in as little as a week or two.

Why sell your OKC house for cash?

There are plenty of reasons an Oklahoma City homeseller may choose to work with a cash-for-homes company. Leading the list are the benefits of speed, certainty, and exceptional convenience.

In Oklahoma City, it typically takes about 95 days to sell a home on the market using an agent. That includes an average of 52 days on the market, plus the typical 43 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 OKC, 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 take a brief look at some of the most common reasons OKC homeowners choose to sell their properties to a We Buy Houses for Cash company.

• Significant repair issues: Your home may have substantial issues, such as foundation problems or water damage, that are costly and time-consuming to fix.
• Urgent need for cash or quick relocation: Whether it’s due to divorce, medical expenses, job relocation, or other life changes, you may need to sell your home quickly.
• Lack of funds or desire for repairs: You may not have the money or inclination to make necessary repairs before selling your home.
• Avoiding stress and complications: Selling traditionally can involve staging, showings, negotiations, and a lengthy sales process, all of which you may want to avoid.
• Privacy concerns: You may prefer a private, off-market sale to a cash buyer rather than listing your property publicly.
• Facing foreclosure: Selling your home for cash can help you settle debts with your lender before your credit history is negatively affected.
• Inherited property: You might have inherited a property that you want to sell quickly and easily without dealing with the traditional sales process.
• Relief from rental property management: As a landlord, you may want to sell a rental property, particularly if you’re dealing with problematic tenants.
• Elderly homeowners making a move: Selling for cash can be a convenient way to fund an elderly homeowner moving in with relatives or into a care facility. The quick, simple sale can ease the burden on family members.
• Out-of-state sellers: If you’re living in another state, a quick cash sale can offer the convenience and ease you’re seeking.

If any of these situations resonate with you, a cash offer from a We Buy Houses company might be a viable option. However, it’s essential to view this as a starting point in your search for the best solution. Fully understanding your options, including the pros and cons of house-buying companies, will help you make an informed decision.

Pros and cons of house-buying companies in OKC

When considering selling your OKC home to a house-buying company, it’s essential to consider the pros and cons. These companies offer the advantage of speed and ease, buying your house as-is without the need for repairs or preparations. However, this convenience can come at a cost. Here are some things to consider before you decide:

Vet cash buyers and know your home’s worth

As we touched on above, when you decide to sell your OKC home to a house-buying company, it’s crucial to thoroughly vet the cash buyer. The level of integrity and service you experience can significantly vary depending on the character of the person or group making the offer. Before committing to a cash offer, take the time to research the company thoroughly.

Check online reviews and testimonials, research the company’s market presence and performance, and ensure they have a positive reputation. Remember, your home is a valuable asset, and it’s important to work with a reputable buyer. Additionally, read the buying agreement carefully before signing, as this document outlines your rights and obligations in the sale.

HomeLight suggests you consult with an experienced OKC 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 OKC home quickly

iBuyers

iBuyers, or instant buyers, leverage automated valuation models to offer near-instant home value estimates and a mostly online home sale experience. They provide all-cash offers closer to market value for homes in better condition, with a process from offer to closing typically lasting a few days to two weeks. But they often charge service fees of 5% to 6%. These national iBuyers like Opendoor and Offerpad are usually a better choice for sellers in regions with homogeneous housing and homes in good condition.

Listing with an agent

While most homeowners looking into house-buying companies want quick sales, considering all options is wise, and a top agent in the right market can deliver. In a seller-friendly region, listing your property with a seasoned agent could result in a fast sale at a higher price. HomeLight data shows that top agents sell homes for up to 10% more than average agents.

Trusted agents can offer a comparative market analysis (CMA) to help calculate your home’s value, which can estimate how quickly it might sell. Experienced agents may also connect you with buyers offering cash closer to market value. Many agents offer a free CMA, helping you consider options and make an informed decision.

HomeLight can connect you with a top-performing agent in your OKC market.

FAQs on OKC house-buying companies

Are We Buy Houses for Cash companies legit or scams?

By and large, most We Buy Houses for Cash companies in OKC 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.

How much will We Buy Houses for Cash companies in OKC pay?

Most We Buy Houses for Cash companies in Oklahoma City apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value (ARV), 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 equation. Let’s say your Oklahoma City Craftsman could sell for $270,000 after repairs, but it’s going to need $30,000 of work to get there.

($270,000 x .70) – $30,000 = $159,000

In this example, an OKC We Buy Houses company might offer you about $159,000 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.

How much does selling a home to a We Buy Houses for Cash company in OKC cost?

When you accept an offer from an OKC 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 ask the company if there are any hidden program fees that might affect your bottom line.

How do you sell a house for cash in OKC?

1. Research and vet the house-buying companies that serve your OKC 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 OKC vs. top OKC 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 explore various aspects of the sale and compare potential earnings.

Aspect of the sale	Sell to a We Buy Houses for Cash company in OKC	Sell with a top Realtor in Oklahoma City
Selling timeline	7 to 30 days	95 days average; 52 to attract an offer; 43 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 Oklahoma City is currently worth about $310,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $335,000.

	Sell to a We Buy Houses for Cash company in Oklahoma City	Sell with a top Realtor in Oklahoma City
Estimated sale price	($335,000 x .70) – $25,000 = $209,500	$310,000
Market preparations	0	$3,100 (1% of sale price)
Agent commissions	0	$17,980 (5.8% of sale price)
Closing costs	0	$4,650 (1.5%)
Estimated take-home for seller	$209,500	$284,270

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 in OKC will be a challenge in your area, or the agent timeline might not fit your immediate needs.

Key takeaways

• Quick sales: Cash-for-homes companies in Oklahoma City offer fast transactions, usually closing within a few days to two weeks.
• No need for repairs: These companies buy homes in any condition, eliminating the need for costly repairs or preparations.
• Less than market value: Generally, these companies offer less than market value for homes, as they aim to profit from reselling them.
• Other options available: Consider alternatives such as iBuyers for homes in better condition, or listing with a top real estate agent for potentially higher sale prices.
• Research is key: Before accepting an offer from a cash-for-homes company, vet the buyer, know your home’s worth, and consider all your options.

Sellers in OKC considering a cash-for-homes company should gather multiple offers and take the time to assess their options before making a commitment. Consult with a top Oklahoma City agent for expert advice on how quickly your property might sell and its potential market value.

At HomeLight, we are always here to assist you with your real estate needs, whether you’re looking for a cash offer through a trusted platform like Simple Sale or seeking a top OKC agent to help you sell your property quickly and at the best price. Let us help you make an informed and confident decision.

Header Image Source: (Gerson Repreza / Unsplash)