We Buy Houses Wilmington NC: Top 4 Companies
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Joseph Gordon EditorCloseJoseph Gordon Editor
Joseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
Fast facts about “We Buy Houses” companies in Wilmington:
- Speed: Selling your home to a We Buy Houses for Cash company in Wilmington can often close fast, in as few as seven to ten days.
- As-is sales: These companies purchase homes in any condition, eliminating the need for costly repairs and preparations.
- Lower offers: Cash offers from these companies are typically below market value compared to traditional sales.
Selling your Wilmington home quickly can be challenging, especially if it needs repairs. We Buy Houses companies in Wilmington offer all-cash deals for homes that might need work, allowing you to sidestep costly and time-consuming repairs.
If you’re pressed for time, expertise, or funds, a cash sale could be your best bet to sell your home immediately. These companies are a good option for sellers who need to sell their property without delay.
This post will guide you through the pros and cons of working with house-buying companies in Wilmington. It will break down how the process works and provide you with some alternatives, along with a list of companies to consider.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Wilmington area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Wilmington
It’s not hard to sell your Wilmington home for cash to a We Buy Houses company, but the process does involve a few steps. Here’s a quick look at how it works:
1. Contact the company: Call or email a reputable house-buying company in Wilmington and ask about selling your home.
2. Provide property details: Share essential information about your home, including its condition, location, and any needed repairs.
3. Schedule a home visit: Arrange for the company to inspect your home to assess its condition and determine a fair cash offer.
4. Receive the cash offer: After the inspection, the company will present you with a no-obligation cash offer for your home.
5. Review and accept the offer: Consider it carefully and decide if it meets your needs and expectations. If you accept, the process moves forward.
6. Close the sale: Complete the paperwork and finalize the sale, often within a few days, allowing you to receive your cash and move forward.
Popular We Buy Houses for Cash companies in Wilmington
If the process of selling to a house-buying company in Wilmington 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 Cape Cod. By selling to one of these companies, you should be able to sell your Wilmington home in as little as a week or two.
Tidal Offers
Tidal Offers specializes in rapid home buyouts, offering homeowners swift and hassle-free purchase offers. Known for streamlining the selling process, Tidal Offers stands out by eliminating the need for inspections and buying homes in their current condition.
Locations: Wilmington, Leland, Castle Hayne, Carolina Beach, Hampstead
Closing costs: Sellers pay no closing costs; Tidal Offers cover them.
Clients have had positive experiences with Tidal Offers, highlighting the fast, professional, and hassle-free nature of transactions. They have a Google review rating of 5.0.
Website: tidaloffers.com
Phone number: 910-742-0554
Simple Sale (a HomeLight platform)
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 Wilmington.
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 Wilmington
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
Homebuyers of NC
Homebuyers of NC, based in Wilmington, stands out as a family-owned real estate solutions firm committed to helping homeowners grappling with circumstances such as foreclosure, probate issues, or the burden of owning an unwanted property.
Locations: Wilmington, Jacksonville, Fayetteville, Topsail Beach, Sneads Ferry, Oak Island, Southport, Ocean Isle Beach, Leland
Closing costs: Sellers pay no closing costs; Homebuyers of NC cover them.
Homebuyers of NC has received high praise from clients for being exceptionally knowledgeable and personable, making clients feel as though they’ve been friends for years. They have a Google review rating of 5.0.
Website: homebuyers-nc.com
Phone number: 910-218-8874
We Buy Houses, Wilmington
WeBuyHouses.com was founded in 1997 and buys houses in 200 markets and 30 states in any condition. According to their website, they have been trusted by 1 million homeowners and can present a cash offer even if the homeowner is behind on their mortgage or facing foreclosure.
Locations: Nationwide, including Wilmington
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 speak to its professionalism and understandable procedure.
Website: webuyhouses.com/NC/Wilmington/
Phone number: 877-932-8946
Why sell your Wilmington house for cash?
Customers of We Buy Houses companies will often point to the unparalleled speed and ease of their homesale as the primary reasons they chose to sell to these companies, rather than list their home on the traditional market.
In Wilmington, it typically takes around 94 days to sell a home on the market using an agent. That includes an average of 50 days on the market plus the typical 44 days or so that 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 Wilmington, 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 a few situations that might make sense for someone considering selling their home for cash:
- Relocating for a job: You need to move quickly for a new job opportunity and don’t have time to wait for a traditional sale.
- Going through a divorce: You and your spouse want to sell the house quickly to settle the divorce and move on with your lives.
- Inheriting a property: You inherited a property and prefer to sell it quickly rather than manage or maintain it.
- Downsizing: You’re looking to downsize and want to sell your current home without the hassle of repairs and showings.
- Needing repairs: Your home needs significant repairs that you can’t afford or don’t want to handle.
- Avoiding open houses: You want to avoid the stress and inconvenience of hosting multiple open houses and showings.
- Facing foundation issues: Your home has foundation issues, and you want a hassle-free sale without making repairs.
- Dealing with foreclosure: You’re facing foreclosure and need to sell your home quickly to avoid further financial complications.
- Managing tenants: You have a rental property with tenants and prefer to sell it without dealing with tenant issues.
- Selling from out of state: You own a property in Wilmington but live out of state and want a quick, easy sale.
Pros and cons of house-buying companies in Wilmington
When deciding to sell your house to a We Buy Houses company in Wilmington, it’s important to consider both the benefits and drawbacks. Here’s a quick look at the pros and cons to help you decide.
Pros
One of the biggest pros of working with a house-buying company in Wilmington is that they offer speed and will buy your house in any condition without needing repairs or preparations. Here are some key benefits at a glance:
- Speed: You can typically sell your house in as few as seven to 10 days, providing a quick solution for urgent situations.
- Buy as-is: Companies will buy your house as-is, meaning no repairs or cleaning are required before the sale.
- Certainty: These companies offer firm cash deals with few or no contingencies, ensuring a smoother, more predictable process.
- Convenience: Skip the hassle of showings, open houses, and negotiations, making the sale process much easier and less stressful.
Cons
The most significant con of working with a house-buying company in Wilmington is that they will likely offer you less than market value for your home compared to selling on the market with an experienced real estate agent. Here are some key drawbacks to consider:
- Lower offers: These companies generally pay significantly below market value, which means you might miss out on a higher selling price.
- Limited market knowledge: Some companies may lack local market expertise, leading to less competitive offers.
- Risk of scams: There’s always a risk of encountering scams or dishonest companies that may pressure you into unfavorable deals.
- Loss of equity: Selling quickly often means sacrificing a portion of your home’s equity, which could be a considerable financial loss.
Vet cash buyers and know your home’s worth
- Research the company: The integrity and service you experience from a We Buy Houses for Cash company can vary. Look into their background to ensure they have a solid reputation.
- Check reviews and testimonials: Read online reviews and testimonials from past clients to gauge the company’s reliability and customer satisfaction.
- Evaluate market presence: Investigate the company’s presence and performance in the Wilmington market to ensure they are knowledgeable and experienced.
- Understand your home’s value: Before accepting an offer, know your home’s worth by getting a professional appraisal or comparing similar home sales in your area.
- Read the agreement carefully: Carefully read the buying agreement to understand all terms and conditions before signing anything.
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 Wilmington home quickly
iBuyers: iBuyers, or instant buyers, use automated valuation models (AVMs) to offer near-instant home value estimates. They provide a mostly online experience, offering all-cash deals typically closer to market value for homes in good condition. The iBuyer process from offer to closing is quick, usually within a few days to two weeks. However, companies like Opendoor and Offerpad charge service fees of 5%-6%.
Listing with an agent: Listing with a top real estate agent can also result in a fast sale, especially in a seller-friendly market. An agent can provide a comparative market analysis (CMA), which helps determine an appropriate listing price and estimate the time to sell. Many agents offer CMAs often free.
Partnering with a proven agent can yield the highest selling price and they may even connect you with buyers offering cash closer to market value. If you are interested in exploring the agent option, HomeLight can connect you with a top-performing real estate agent in your area today.
FAQs on Wilmington house-buying companies
By and large, most We Buy Houses for Cash companies in Wilmington 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 Wilmington 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 Wilmington [common type of house in the region] could sell for $350,000 after repairs, but it will need $30,000 of work to get there.
($350,000 x .70) – $30,000 = $215,000
In this example, a Wilmington We Buy Houses company might offer you around $215,000 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 Wilmington 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.
1. Research and vet the house-buying companies that serve your Wilmington 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 Wilmington vs. top Wilmington 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 Wilmington | Sell with a top Realtor in Wilmington |
Selling timeline | 7 to 30 days | 94 days average; 50 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 | 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 Wilmington is worth about $400,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $425,000.
Sell to a We Buy Houses for Cash company in Wilmington | Sell with a top Realtor in Wilmington | |
Estimated sale price | ($425,000 x .70) – $25,000 = $272,500 | $400,000 |
Market preparations | 0 | $4,000 (1% of sale price) |
Agent commissions | 0 | $23,200 (5.8% of sale price) |
Closing costs | 0 | $6,000 (1.5%) |
Estimated take-home for seller | $272,500 | $366,800 |
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.
Ready to sell your Wilmington home for cash?
At HomeLight, we’re happy to guide you through 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 Wilmington agent.
Header Image Source: (Robin Jonathan Deutsch/ Unsplash)