5 Top We Buy Houses for Cash Companies in Winston-Salem
- Published on
- 15 min read
-
Kelsey Morrison Former HomeLight EditorClose
Kelsey Morrison Former HomeLight EditorKelsey Morrison worked as an editor for HomeLight's Resource Centers. She has seven years of editorial experience in the real estate and lifestyle spaces. She previously worked as a commerce editor for World of Good Brands (eHow.com and Cuteness.com) and as an associate editor for Livabl.com. Kelsey holds a bachelor’s degree in Journalism from Concordia University in Montreal, Quebec, and lives in a small mountain town in Southern California.
Winston-Salem homeowners seeking a quick sale can find potential solutions in the form of “We Buy Houses” companies. Whether you’re a professor who has accepted a job at another university or an out-of-stater who recently inherited a property, there are several scenarios in which selling to a cash investor might make sense. This is especially true if your home is in need of a little TLC, or you lack the funds, time, or expertise to get it in selling shape.
In this guide, we’ll explore the benefits and challenges of opting for a cash home sale, and highlight some of the top “We Buy Houses” companies serving the Winston-Salem market. With a solid understanding of the process and your options, you’ll be able to make an informed decision when selling your home in the Twin City.
Sell Your House Fast in Winston Salem 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 Winston Salem.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Winston-Salem area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Winston-Salem
Selling your Winston-Salem home to a house-buying company is a fairly simple process. Here’s how it generally works:
- Research companies: Look for reputable house-buying companies in Winston-Salem. Check their history, customer reviews, and business credentials to ensure you’re dealing with a trustworthy entity.
- Submit your information: Reach out to your chosen company with details about your property. This usually involves filling out an online form or making a phone call to provide specifics about your home’s condition, location, and features.
- Schedule a walk-through: A representative of the company will most likely perform an inspection of your home to determine its condition and market value.
- Receive an offer: After reviewing your information and completing an inspection, the company will typically make an all-cash offer for your home. This offer is often presented with no obligation on your part to accept.
- Accept the offer: If you decide the offer meets your needs, you can accept it. Remember, most house-buying companies propose a take-it-or-leave-it deal, so there’s little room for negotiation.
- Close the sale: Closing can happen quickly, sometimes within a week. The company handles most of the paperwork, and you’ll receive the cash for your home soon after.
Popular We Buy Houses for Cash companies in Winston-Salem
If you’re intrigued by the idea of selling your Winston-Salem house for cash, you’ll first need to find a reputable company that you can trust.
Ahead, we’ve compiled a list of some of the top companies that will pay cash for your parents’ 1940s cottage or Cape Cod house. By selling to one of these companies, you should be able to offload your Winston-Salem home in as little as a week or two.
Greenpoint Properties
Based in Oak Ridge, Greenpoint Properties purchases single-family houses, condos, apartments, townhomes, multi-family properties, vacant lots, and more — all in “as-is” condition. They can close in as few as seven days and cover all closing costs for the seller. Greenpoint Properties is a local, family-owned company and buys houses in Winston-Salem and surrounding areas.
Locations: Winston-Salem and surrounding areas
Closing costs: Sellers pay no closing costs; Greenpoint Properties covers them.
Greenpoint Properties boasts a 5-star rating on Google, as well as Facebook. Reviews mention the company’s quick and easy process, honest deals, and kind employees. “The company cares about people and are willing to work with you, no matter what your circumstances are,” wrote a recent reviewer.
Website: selltogreenpoint.com/we-buy-houses-winston-salem/
Phone number: 336-234-2323
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Winston-Salem (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 US. 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 neighborhoods throughout Winston-Salem.
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 Winston-Salem
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 accredited by the Better Business Bureau (BBB) 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
Cardinal House Buyers
Based in Charlotte, Cardinal House Buyers purchases houses for cash anywhere in North Carolina, including Winston-Salem. They buy houses, condos, apartments, townhomes, land, duplexes, multifamily complexes, and mobile homes. The company pays all closing costs and can close a deal in as little as 10 days.
Locations: Throughout North Carolina, including Winston-Salem.
Closing costs: Sellers pay no closing costs; Cardinal House Buyers covers them.
Cardinal House Buyers has a 5-star rating on Google. Customers frequently mention the company’s quick response times, fair offers, and professionalism. “They offered a fair price for the house, and we closed when we needed to close,” wrote one reviewer who sold an inherited property to Cardinal House Buyers. “We did not have to do anything to the house, except take out what we wanted to keep.”
Website: cardinalhousebuyers.com
Phone number: 704-850-9879
Wake County Home Buyers
Wake County Home Buyers is a North Carolina company that purchases houses “as-is” throughout the state. The company’s founder, Mike Otranto, has been buying and flipping houses since the the mid-2000s. They allow sellers to discard unwanted furniture and personal items in the home, which is ideal for inherited properties. Wake County Home Buyers can close in as little as seven days and pays all closing costs.
Locations: Wake County Home Buyers buys houses throughout North Carolina, including Winston-Salem.
Closing costs: Sellers pay no closing costs; Wake County Home Buyers cover them.
Wake County Home Buyers has been accredited by the Better Business Bureau (BBB) since 2017 and holds an A+ rating. The company has received a perfect Google rating of 5.0. Reviews underscore the company’s open communication, compassionate employees, and quick closings. “[Mike] made the process of selling our house so easy that we just picked a date to close on, signed a few papers, showed up to closing and that was it,” wrote one recent client.
Website: mikeotranto.com/sell-your-house-fast-in-winston-salem-nc/
Phone number: 919-473-6885
NC HomeBuyers
NC HomeBuyers is based in Raleigh but purchases homes throughout North Carolina, including Winston-Salem. They have purchased over 150 homes in the last two years. NC HomeBuyers can close in as little as 7–10 days and pay all closing costs on the sellers’ behalf. They will either make you a no-obligation all-cash offer on the spot or within 24 hours of touring your home in-person.
Locations: Throughout North Carolina, including Winston-Salem.
Closing costs: Sellers pay no closing costs; NC HomeBuyers cover them.
NC HomeBuyers has a 4.7-star rating on Google and has been BBB-accredited since 2022. They currently hold an A+ rating. Reviews highlight the company’s responsiveness, competitive offers, and transparency. “We were able to perform the entire process via phone, text, and email, consuming little time and effort on our part even with some documentation snags that NC HomeBuyers personnel took care of with ease,” wrote a recent client.
Website: nchomebuyers.org/sell-my-house-winston-salem
Phone number: 919-296-4888
Why sell your Winston-Salem house for cash?
Winston-Salem homeowners often choose Cash-For-Homes companies for several compelling reasons. These include receiving a fast offer, experiencing a guaranteed sale, and enjoying a hassle-free process.
In Winston-Salem, it typically takes around 83 days to sell a home on the market using an agent. That includes an average of 39 days on the market, plus the typical 44 days a buyer needs to close on a purchase loan.
A traditional home sale can take nearly three months from start to finish, while Cash-for-Homes companies in Winston-Salem typically close in 7 to 10 days. This speed comes at a cost, however, as these companies often offer below-market value for homes.
Let’s look at some of the most common reasons Winston-Salem sellers decide to use a We Buy Houses for Cash company over listing a property the traditional way:
- Job relocation: If you’re moving for a new job and need a quick sale, cash buyers can offer the speed you require. Moving for work often comes with tight deadlines, and a cash sale can help meet them.
- Divorce: Liquidating shared assets quickly and efficiently can be crucial during a divorce. A cash sale simplifies this process, providing a clean break from shared property.
- Inherited property: Inheriting a property comes with its own set of challenges, especially if you’re not in a position to maintain it. A cash offer can resolve this dilemma quickly.
- Downsizing: For those looking to move to a smaller, more manageable home, especially in retirement, selling for cash can facilitate a smooth transition without the usual market delays.
- Major repairs needed: Facing a home that needs significant repairs can be overwhelming. Cash buyers often purchase homes “as-is,” eliminating the need for you to invest further in the property.
- Avoiding open houses: The inconvenience of staging your home and hosting open houses can be bypassed with a cash sale, offering privacy and convenience.
- Foundation issues: Significant issues like foundation problems can scare off traditional buyers. Cash buyers are more likely to take on these kinds of challenges.
- Facing foreclosure: A fast cash sale can be a viable strategy to avoid the repercussions of foreclosure, helping you to settle debts quickly.
- Problem tenants: If you’re looking to sell a rental property but are concerned about existing tenants, cash buyers can take the property off your hands, tenants and all.
- Selling from out of state: Handling a property sale from another state adds complexity. A cash buyer simplifies this, making the transaction smoother for out-of-state sellers.
In these situations, opting for a cash sale can provide a smooth and efficient path to selling your home. However, before diving in, it’s crucial to weigh the advantages and disadvantages of working with house-buying companies.
Pros and cons of house-buying companies in Winston-Salem
For homeowners eager for a fast and straightforward sale, house-buying companies are an attractive option. While investors promise quick cash closes and buy homes “as-is,” they often present offers that are below market value. Here’s a quick breakdown of the pros and cons that sellers have to content with:
Pros
- Quick sale: The process can be completed in a matter of days, not months, which is ideal for sellers needing to relocate or access funds quickly.
- No repairs needed: Sell your home as-is, without spending on repairs or renovations — a major plus for homes that would otherwise require significant investment.
- Simplicity: The selling process is straightforward, with fewer contingencies and paperwork than traditional real estate transactions.
- No real estate commissions: Saving on agent commissions can be a significant financial benefit, as cash-buying companies do not typically charge these fees.
Cons
- Below market value: Offers are generally less than what you might receive on the open market, impacting the total profit from your sale.
- Limited negotiation: The price offered is usually final, offering little to no room for negotiation.
- Potential for scams: While many companies are reputable, the risk of scams exists, requiring sellers to be diligent in their research and selection of a buyer.
- No chance of a bidding war: You might miss out on potential market-driven increases in your property’s value, especially in high-demand areas.
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 you decide to sell your Winston-Salem home to a “We Buy Houses for Cash” company, remember that the integrity and service level you’ll experience may vary depending on the character of the person or group making the offer. Eensure that you’re dealing with a reputable buyer who values fairness and transparency in their transactions.
Before signing on the dotted line, take the time to vet the company thoroughly. Check online reviews, read testimonials from previous sellers, and research the company’s presence and performance in the Winston-Salem market. It’s also important to read the buying agreement carefully to make sure you understand all the terms and conditions.
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 it to your cash offer. HomeLight can connect you with a top-performing agent in the Winston-Salem 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 Winston-Salem home quickly
iBuyers
iBuyers, or instant buyers, utilize automated valuation models to make quick, all-cash offers on homes, often closer to market value. The iBuyer process, which occurs mostly online, can transition from offer to closing in just days to a couple of weeks. While major players like Opendoor and Offerpad provide a speedy sale, they typically charge service fees of 5%–6%. The iBuying route is best for sellers with homes in good condition that are located in areas with uniform housing types.
Listing with an agent
For those considering a more traditional route, working with a real estate agent could be beneficial, especially in a seller-friendly market like Winston-Salem. Agents can strategically price and market your home for a fast sale, often securing a higher price than selling on your own. A key advantage is the comparative market analysis (CMA), which agents use to evaluate your home’s value based on similar, recently sold properties. This service is often free and can guide pricing for a quicker sale.
An experienced agent could also connect you with cash buyers, potentially offering a price closer to market value. If you’re interested in selling on the open market, HomeLight can connect you with a top-performing agent in your area, ensuring you make an informed decision whether selling directly or through a house-buying company.
FAQs on Winston-Salem house-buying companies
By and large, most We Buy Houses for Cash companies in Winston-Salem 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 Winston-Salem 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 Winston-Salem Colonial Revival home could sell for $260,000 after repairs, but it’s going to need $30,000 of work to get there.
($260,000 x .70) – $30,000 = $152,000
In this example, a Winston-Salem We Buy Houses company might offer you around $152,000 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 Winston-Salem 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.
- Research and vet the house-buying companies that serve your Winston-Salem 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 Winston-Salem vs. top Winston-Salem 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 Winston-Salem | Sell with a top Realtor in Winston-Salem |
| Selling timeline | 7 to 30 days | 83 days average; 39 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 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 Winston-Salem is currently worth about $260,000 and needs roughly $25,000 in repairs. Once the repairs are completed, the home might be worth around $285,000.
| Sell to a We Buy Houses for Cash company in Winston-Salem | Sell with a top Realtor in Winston-Salem | |
| Estimated sale price | ($285,000 x .70) – $25,000 = $174,500 | $260,000 |
| Market preparations | 0 | $2,600 (1% of sale price) |
| Agent commissions | 0 | $15,080 (5.8% of sale price) |
| Closing costs | 0 | $3,900 (1.5%) |
| Estimated take-home for seller | $174,500 | $238,420 |
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
- Selling your Winston-Salem home to a cash-for-homes company can significantly speed up the process.
- You can sell your house as-is, avoiding the costs and hassle of making repairs.
- The transaction is straightforward, with fewer steps and less paperwork than traditional sales.
- It’s important to compare the cash offer to the potential market value of your home.
- HomeLight’s Simple Sale platform offers quick, no-obligation cash offers for most Winston-Salem homes, regardless of condition. It’s a good starting point for unsure sellers due to its diversified investor network.
- Ensure you’re working with a reputable company to avoid scams and get the best deal.
Before committing to a Winston-Salem Cash-For-Homes company, take the time to gather multiple offers and consult with a top local real estate agent. This comprehensive approach ensures you have a clear understanding of your property’s worth and the options available. Talking to an agent can provide valuable insights into market conditions, your home’s potential selling timeline, and the possibility of maximizing your profit through a traditional sale.
By carefully weighing the pros and cons of each offer, you’ll be well-equipped to make the best decision for your unique financial situation and selling goals. Remember, HomeLight is here to assist you throughout this process, connecting you with qualified agents and resources to help you sell your Winston-Salem home with confidence.
Header Image Source: (sepavone/DepositPhotos)
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.
