We Buy Houses Torrance: 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.
If you’re a homeowner in Torrance needing a quick home sale, a “We Buy Houses” company might be worth considering. These companies offer cash deals for homes that may need a little—or a lot—of work and provide a quick sales process that closes in days, not weeks. This means skipping lengthy repairs and getting your cash fast.
A cash sale is ideal if you’re short on time, resources, or the desire to tackle renovations. Any number of complications, from a sudden inheritance to a pending foreclosure, can necessitate quick cash transactions, making We Buy Houses companies a potential lifesaver.
This post will discuss the pros and cons of working with a cash buyer in Torrance, providing insight to help you make the right choice.
Sell Your House Fast in Torrance With a Cash Offer
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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 Torrance area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Torrance
Selling your home to a house-buying company in Torrance can be a quick and straightforward process, ideal if you need a fast sale and minimal hassle. Here’s a quick rundown of the basic steps you can expect when working with a cash-for-homes company.
- Contact the company: Reach out to a reputable house-buying company in Torrance by phone or through an online form. They’ll ask for some details about your home.
- Schedule an evaluation: The company will arrange a time to visit your property to assess its condition and gather the information needed to make an offer.
- Receive an offer: After evaluating your home, the company typically provides a cash offer within 24-48 hours. This offer often reflects the property’s as-is condition.
- Review the offer: Take time to carefully review the offer terms, and understand any fees or costs involved. Remember, the offer is usually non-negotiable.
- Accept and sign: If the offer works for you, sign the necessary paperwork to begin the closing process.
- Close and get paid: Once the closing date arrives, you’ll receive the cash proceeds—often within a few days—allowing you to move forward quickly.
Popular We Buy Houses for Cash companies in Torrance
If the process of selling to a house-buying company in Torrance 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’ ranch style or mid-century modern. By selling to one of these companies, you should be able to sell your Torrance home in as little as a week or two.
Priority Home Buyers
Priority Home Buyers provides a fast, fair cash offer process, promising offers within one hour and closings in as little as seven days.
Locations: Nationwide, including Torrance
Closing costs: Sellers pay no closing costs; Priority Home Buyers cover them.
Priority Home Buyers has been accredited by the Better Business Bureau (BBB) since 2023 and holds an A- rating. They also have a 4.7 Google star rating.
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 Torrance (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 Torrance.
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 Torrance.
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 offers a simplified and stress-free home-selling process for California residents. Their goal is to provide homeowners with a quick, hassle-free cash offer for their property.
Locations: Throughout Southern California, including Torrance.
Closing costs: Sellers pay no closing costs; SoCal Home Buyers cover them.
SoCal Home Buyers holds a 4.8-star rating on Google reviews. SoCal Home Buyers also maintains an A+ rating from the Better Business Bureau.
Website: socalhomebuyers.com
Phone number: 951-331-3844
Eazy House Sale
Eazy House Sale is a property-buying company that provides a fast, straightforward, and transparent solution for homeowners looking to sell their houses quickly. It specializes in helping homeowners in challenging situations, ensuring they get a fair deal without the traditional delays and complications of the real estate market.
Locations: Torrance and surrounding areas.
Closing costs: Sellers pay no closing costs; Eazy House Sale covers them.
Eazy House Sale holds a 5.0-star rating on Google.
Website: eazyhousesale.com
Phone number: 855-915-1382
John Medina Buys Houses
John Medina Buys Houses is a California-based company that specializes in purchasing homes for cash, providing a fast and hassle-free alternative to traditional real estate sales. They eliminate the need for real estate agents, repairs, and fees, offering homeowners a straightforward cash offer for their properties, regardless of condition.
Locations: Statewide, including Torrance.
Closing costs: Sellers pay no closing costs; John Medina Buys Houses covers them.
John Medina Buys Houses holds a 4.7-star rating on Google. Additionally, the company has been accredited with the BBB since 2015 and maintains an A+ rating.
Website: johnmedinabuyshouses.com
Phone number: 310-928-9685
Why sell your Torrance house for cash?
There are plenty of valid reasons a Torrance home seller may choose to work with a Cash-For-Homes company. Speed, certainty, and remarkable convenience are some of the main reasons sellers work with these companies.
In Torrance, it typically takes around 73 days to sell a home on the market using an agent. That includes an average of 29 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 Torrance, 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.
If you’re a Torrance homeowner considering a cash sale, there are many situations where selling to a house-buying company might make sense. Whether you’re facing unexpected life changes or simply want to sell fast without repairs, a cash buyer could be a convenient option. Below are some common scenarios where a cash sale might fit your needs.
- Job relocation: You’ve secured a new job in another area and need a quick sale to move without delays.
- Divorce: A divorce may require you to sell the property quickly, splitting proceeds to move on individually.
- Inherited: You inherited a home you don’t need and would rather sell than manage or maintain it.
- Downsizing: You’re downsizing and want a swift sale to simplify your life and finances.
- Repairs: Your home needs extensive repairs that you lack the funds or time to address before listing.
- Open houses: You’d rather avoid the hassle and privacy concerns of hosting open houses.
- Foundation issues: Significant foundation problems make it difficult to sell through traditional channels.
- Foreclosure: You’re facing potential foreclosure and want to sell quickly to avoid a damaged credit score.
- Tenants: Managing tenants can be challenging, and selling the property as-is could provide relief.
- Selling from out of state: You need to sell a property from afar and don’t want to manage long-distance logistics.
Pros and cons of house-buying companies in Torrance
Working with a house-buying company in Torrance has its upsides and downsides, depending on your priorities. Below, we’ll outline the primary pros and cons so you can better understand if a cash-for-homes company meets your needs.
One of the biggest advantages of using a house-buying company in Torrance is speed; you can sell quickly without making any repairs or as-is preparations. Here are some of the key benefits to consider:
- Quick sale: Cash buyers can often close within days, making them a great option if you’re in a hurry to sell.
- No repairs needed: Unlike traditional sales, cash-for-homes companies buy properties as-is, saving you the cost and time of repairs or updates.
- No showings: Cash buyers skip the showing process entirely, sparing you from the hassle of staging and preparing your home for multiple viewings.
- Fewer contingencies: Cash deals typically involve fewer or no contingencies, reducing the chances of your sale falling through due to buyer financing or inspection issues.
While house-buying companies provide convenience, the biggest drawback is the likely offer of below market value, which may leave you with less cash than a traditional sale with an agent. Here are some additional downsides to weigh:
- Lower sale price: Cash-for-homes companies typically offer less than market value, which can mean a lower profit from the sale.
- Potential scams: The industry is vulnerable to scams, so working with reputable buyers is essential to avoid fraudulent practices.
- Limited buyer pool: Not every company is willing to buy all types of properties, so some homes might not qualify for a cash offer.
- No negotiations: Offers are often take-it-or-leave-it, giving you little room to negotiate a higher price.
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. Your experience depends on the character of the person or group making the offer.
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 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 Torrance home quickly
If you need a fast home sale, here are two additional options worth considering:
iBuyers
iBuyers are cash-for-homes companies that use automated valuation models (AVMs) to make near-instant offers based on market data. With a mostly online iBuyer process, companies like Opendoor and Offerpad can close quickly—often within a few days to two weeks. While their offers are usually close to market value, iBuyers typically charge a 5%-6% service fee and prefer homes in good condition.
Listing with an agent
Listing with an agent can still lead to a quick sale, especially in a seller’s market. Top agents often provide a comparative market analysis (CMA), which is often free, to help price your home competitively. They may even connect you with buyers who make cash offers closer to market value. If you’re interested, HomeLight can connect you with a top-performing real estate agent to explore this option.
FAQs on Torrance house-buying companies
By and large, most We Buy Houses for Cash companies in Torrance 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 Torrance 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 Torrance ranch style home could sell for $1,100,000 after repairs, but it will need $30,000 of work to get there.
($1,100,000 x .70) – $30,000 = $740,000
In this example, a Torrance We Buy Houses company might offer you around $740,000 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 Torrance 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 Torrance 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 Torrance vs. top Torrance 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 Torrance | Sell with a top Realtor in Torrance |
| Selling timeline | 7 to 30 days | 73 days average; 29 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% to 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 Torrance is worth about $1,100,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $1,125,000.
| Sell to a We Buy Houses for Cash company in Torrance | Sell with a top Realtor in Torrance | |
| Estimated sale price | ($1,125,000 x .70) – $25,000 = $762,500 | $1,100,000 |
| Market preparations | 0 | $11,000 (1% of sale price) |
| Agent commissions | 0 | $33,000 (3% of sale price) |
| Closing costs | 0 | $16,500 (1.5%) |
| Estimated take-home for seller | $762,500 | $1,039,500 |
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: Cash-for-homes companies provide a quick, straightforward sale, often closing in just days without the need for repairs or showings.
- As-is sale: These companies buy homes in their current condition, allowing you to skip any updates or renovations.
- Lower offer prices: Cash offers from these companies are generally lower than market value, as they’re buying with minimal conditions.
- Limited flexibility: Offers are usually non-negotiable, which may reduce your ability to maximize your home’s sale price.
- 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 Torrance agent.
Header Image Source: (Neal E. Johnson/Unsplash)
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