5 Top We Buy Houses for Cash Companies in Pasadena
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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 Pasadena, “We Buy Houses” companies provide an alternative solution to homeowners needing a quick sale, particularly on homes that need extensive repair.
These companies are ideal for sellers who need to dispose of their property quickly instead of going through the lengthy process of a traditional home sale — which can often take several months.
This article will explore the advantages and disadvantages of selling your home for cash, offering insights to help you weigh your options carefully. Whether you’re in a bind or simply curious about what these companies can offer, we’re here to demystify the process.
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Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Pasadena area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Pasadena
“We Buy Houses” companies offer a fast solution to home-selling, completing all-cash transactions that can close in as little as seven days. These companies cater to sellers with urgent needs, targeting properties that may require significant repairs. Here’s a simplified overview of the process:
1. Request an offer: Provide details about your property. Some companies may give a preliminary offer quickly, subject to adjustments post-home inspection.
2. Home inspection: Expect a walk-through within 24 to 48 hours. The timing can vary based on the company and current market conditions.
3. Receive a final offer: A formal cash offer follows the inspection within 24 hours, sometimes immediately after the walk-through. These offers are typically non-negotiable, presenting a straightforward take-it-or-leave-it decision.
4. Sign the sales agreement: Accepting the offer leads to signing a contract and initiating the closing process. Companies may offer an advance to aid with moving costs, with some paying for the property upfront.
5. Close and get paid: Closings can happen within a week to a few weeks, offering flexibility in choosing a move-out date.
Popular We Buy Houses for Cash companies in Pasadena
If the process of selling to a house-buying company in Pasadena 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’ Spanish Revival or Craftsman. By selling to one of these companies, you should be able to sell your Pasadena home in as little as a week or two.
Priority Home Buyers
Priority Home Buyers offers a streamlined process where homeowners can receive fast, fair, and competitive cash offers within 1 hour, leading to quick closings in as little as seven days. Homeowners can evaluate their offer with no risk, obligation, or stress and are welcome to visit any of their 22 nationwide offices for a live consultation with a team member.
Locations: Nationwide, including Pasadena
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. A recent customer shared their experience, noting the team’s empathetic, respectful, and transparent approach.
Website: priorityhomebuyers.com
Phone number: 877-399-1777
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Pasadena (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 in different locations throughout Pasadena, even those that need some or a lot of work.
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 Pasadena
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
SoCal Home Buyers
SoCal Home Buyers is a professional real estate investment company that assists homeowners with properties they need to sell quickly or are causing problems. Their straightforward seller agreement paperwork and ability to close in as little as seven days ensure an easy, painless transaction.
Locations: San Bernardino, Riverside, Los Angeles, San Diego, and Orange counties
Closing costs: Sellers pay no closing costs; SoCal Home Buyers cover them.
SoCal Home Buyers has been BBB accredited since 2018 and holds an A+ rating. SoCal Home Buyers holds a 4.8 Google star rating. A recent customer shared their experience, noting that SoCal made the process easy.
Website: socalhomebuyers.com
Phone number: 951-331-3844
We Buy Houses, San Bernardino
WeBuyHouses.com was founded in 1997 and buys houses in 200 markets and 30 states in any condition. The homebuying process starts by gathering information from the homeowner, conducting additional research, and a home tour. A no-obligation cash offer is usually available within 24 to 48 hours after their tour.
Locations: Nationwide, including Pasadena
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.
Website: webuyhouses.com/CA/pasadena
Phone number: 877-932-8946
Ready Eddy Cash Offer
Eddy Caballero, the founder of Ready Eddy Cash Offer, brings a decade of expertise to cash home buying. Once the company confirms your home details, they’ll craft a cash offer. A property walkthrough follows, where the team addresses all queries. Upon gathering the necessary info, the company offers you a cash offer.
Locations: Los Angeles County, including Pasadena
Closing costs: Sellers pay no closing costs; Ready Eddy Cash Offer covers them.
Ready Eddy Cash Offer has been BBB accredited since 2023 and holds an A+ rating. The company has a 5.0 Google star rating. One customer shared that after contacting several local home-buying companies, they found Ready Eddy Cash Offer the highest offer for their property and closed the deal within 2 weeks.
Website: readyeddycashoffer.com
Phone number: 213-645-2029
Why sell your Pasadena house for cash?
There are plenty of valid reasons a Pasadena home seller may choose to work with a Cash-For-Homes company. Speed, certainty, and remarkable convenience are the primary benefits.
In Pasadena, it typically takes around 94 days to sell a home on the market using an agent. That includes an average of 47 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 Pasadena, 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’s a closer look at scenarios where opting for a house-buying company could be particularly beneficial:
- Job relocation: When you’re moving for a new job and need to sell your home quickly.
- Divorce: Navigating a sale amidst the complexities of a divorce.
- Inherited property: Dealing with a home you’ve inherited but prefer to sell.
- Downsizing: When it’s time to move to a smaller home or retirement community.
- Significant repairs: Facing costly repairs that you’re unable or unwilling to manage.
- Avoiding open houses: Preferring not to deal with the hassle of open houses.
- Foundation issues: When your home has serious foundation problems.
- Foreclosure risk: Needing to sell quickly to avoid foreclosure.
- Problematic tenants: Looking to sell a rental property due to difficult tenants.
- Selling from out of state: Managing a sale from another location without the ability to be present.
Pros and cons of house-buying companies in Pasadena
There are several pros and cons to consider when selling your home for cash. Here are some of the main ones to keep in mind.
Pros:
- Quick sale: House-buying companies in Pasadena can often close a deal within a week, allowing you to move on quickly.
- No need for repairs: Your home will be purchased as-is, eliminating the need for costly repairs or renovations before the sale.
- No real estate commissions: Selling to a house-buying company means you won’t have to pay any realtor commissions, keeping more money in your pocket.
- Avoiding contingencies: Traditional sales often come with various contingencies that can delay or derail sales; this isn’t an issue with house-buying companies.
However, it’s not all positive. One significant drawback of selling to a house-buying company in Pasadena is that you might not get as much money for your home as you would through the traditional market, often selling below market value.
Cons:
- Below market value: You’re likely to receive an offer less than what you might achieve on the open market.
- Limited negotiation: The offer you receive is typically non-negotiable, giving you little room to push for a better deal.
- Potential for scams: While many house-buying companies are legitimate, there’s a risk of falling victim to scams, necessitating thorough vetting.
- Less market exposure: By selling directly to a house-buying company, your property won’t be listed on the open market, potentially missing out on higher offers.
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
When deciding to work with a “We Buy Houses for Cash” company in Pasadena, it’s important to remember that the integrity and service level these companies offer can significantly vary.
Your experience will largely depend on the character and reliability of the person or group behind the offer. Before moving forward with a cash sale, taking the time to vet the company thoroughly is crucial. Check online reviews, read through testimonials, and research their market presence and past transactions to gauge their reputation and reliability.
Moreover, understanding the true value of your home is essential before signing any agreements. Ensure you read the buying agreement carefully, paying close attention to the terms and conditions.
HomeLight suggests you consult with an experienced local agent to better understand 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 Pasadena home quickly
iBuyers: Instant buyers, or iBuyers, use automated valuation models (AVMs) to offer a fast, tech-driven sale process, typically concluding from offer to closing in a few days to two weeks. iBuyers like Opendoor and Offerpad are ideal for good-quality homes, offering prices closer to market value minus service fees of 5%-6%. This iBuyer process suits sellers in areas with uniform housing markets.
Listing with an Agent: While not the first thought for those seeking a rapid sale, listing your property with a top real estate agent can also secure a quick sale, especially in seller-friendly markets. Agents can leverage strategic pricing and marketing to attract offers swiftly.
A significant advantage is obtaining a comparative market analysis (CMA), which is often free and provides a detailed market report to help set the right listing price. For those open to exploring this route, HomeLight can connect you with a top-performing agent, potentially leading to cash offers near your home’s market value.
FAQs on Pasadena house-buying companies
By and large, most We Buy Houses for Cash companies in Pasadena 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 Pasadena 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 Pasadena Spanish Revival could sell for $1,100,000 after repairs, but it’s going to need $50,000 of work to get there.
($1,100,000 x .70) – $50,000 = $720,000
In this example, a Pasadena We Buy Houses company might offer you around $720,000 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 Pasadena 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 Pasadena 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 Pasadena vs. top Pasadena 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 Pasadena | Sell with a top Realtor in Pasadena |
| Selling timeline | 7 to 30 days | 94 days average; 47 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 Pasadena is currently worth about $1,000,000 and needs about $50,000 in repairs. Once the repairs are completed, the home might be worth around $1,050,000.
| Sell to a We Buy Houses for Cash company in Pasadena | Sell with a top Realtor in Pasadena | |
| Estimated sale price | ($1,050,000 x .70) – $50,000 = $685,000 | $1,000,000 |
| Market preparations | 0 | $10,000 (1% of sale price) |
| Agent commissions | 0 | $58,000 (5.8% of sale price) |
| Closing costs | 0 | $15,000 (1.5%) |
| Estimated take-home for seller | $685,000 | $917,000 |
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 Pasadena 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 Pasadena real estate agents can often offer alternative routes that 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 Pasadena 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 Pasadena agent.
Header Image Source: (paulbr75/ Pixabay)
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.
