‘We buy houses’ companies in San Antonio, TX

If you need to sell your home quickly, the traditional route of hiring a Realtor, getting the place ready to host showings and negotiating with prospective buyers may not work for your timeline. Maybe you need to relocate in a hurry for work, for example, or you need the cash proceeds from the sale as fast as possible. In these cases, it may make sense to consider options that can expedite the sale.

Cash-homebuying firms, often referred to as “we buy houses” companies, pay cash for homes and fast-track the sale process — often reducing it to just a few weeks or less. This can be incredibly helpful, as homes in San Antonio tend to spend a long 55 days on the market before selling, according to January Redfin data.

While all of that may sound appealing, there’s a pretty big drawback to consider: You’re not likely to get the best price for your home when working with a cash homebuyer. Read on to find out more about the pros and cons of working with “we buy houses” companies in San Antonio.

Types of companies that buy houses in San Antonio for cash

There are several types of “we buy houses” companies operating in San Antonio, including national brands that maintain local branches in the area and also smaller, local operations.

Nationwide options

Two of the biggest national cash buyers operate in San Antonio: We Buy Houses and HomeVestors (which, somewhat confusingly, is often called the “we buy ugly houses” company). Both make very quick cash offers, even on homes in very poor condition, and both facilitate a speedy closing as well. The entire process, from beginning to end, can take as little as two or three weeks.

Local options

If you’d prefer to work with a locally owned San Antonio business, there are multiple options for that too. Options include:

• Sell My House Fast SA TX: This company, established in 2009, charges no fees or commissions, buys homes in any condition and says it can close in as little as 10 days. They pay all closing costs on the transaction as well.
• House Buyer San Antonio: A family-owned company that’s been in business for more than 12 years, they let you choose your own closing timeline. They also buy homes in as-is condition and typically close within 10 days.
• Matt Buys Houses TX: Matt Allen has been buying homes in the San Antonio area since 2016. The company makes cash offers within 24 hours, no matter the condition, and also does not charge fees or commissions.

iBuyers

The most well-known iBuyers in the country, Opendoor and Offerpad, both also actively buy homes in San Antonio. These work on a similarly fast timeline and also make quick, all-cash offers, but there are key differences. For example, iBuyers are typically choosier about what types of homes they will buy — they typically aren’t interested if major work is needed — and they may charge fees.

How do ‘we buy houses’ companies work?

Cash homebuyers generally all follow a similar fix-and-flip business model. That includes buying homes no matter what shape they’re in, since they’re going to renovate them anyway, and buying in cash so that they can move quickly with no need to involve lenders or financing.

The process starts with you making a phone call, emailing or completing an online form. After that an assessment of your home will be conducted, either virtually or in-person by a company representative. Some companies will then make an offer on the spot, but it will more likely be made within 24 to 48 hours. You’re under no obligation to accept the offer, but they usually expire in a fairly short time frame, so don’t take too long in deciding. These companies are not usually willing to negotiate on price, either.

If you do choose to accept the offer, make sure you read all the paperwork very carefully before you sign anything. Then it’s time to schedule a closing date — many companies will let you pick the date that is best for your needs.

Alternatives

The cash-homebuyer model may not work for you, and that’s fine. You’ve got other options, including the following:

• Hire a Realtor: Selling with a knowledgeable local real estate agent who understands the San Antonio market well will almost certainly get you a higher price for your home than selling to a “we buy houses” company. However, it will also take longer: Homes in San Antonio spent about 55 days on the market before selling in January, per Redfin, and that’s not including the time it takes after that for a buyer’s financing to come through.
• Do it yourself: A “for sale by owner” (or FSBO) transaction is another option. You’ll save money on Realtor fees, as there’s no listing agent to pay — but you’ll need to invest a great deal of time and energy, and you’ll still have to pay your buyer’s agent’s fee.
• Become a landlord: Renting out your home can provide a source of ongoing income, which may be a lucrative option if you don’t need the cash from a sale right away. San Antonio homes rent for a median of $1,850 per month, according to Zillow Rental Manager.

Next steps

While working with a cash homebuyer is fast and convenient, it’s not likely to be the most lucrative way to sell. If you are in a real hurry or if your home needs more work than you are prepared to do, it can certainly be a good option. Just be sure to do your due diligence on the company you work with and read the fine print of the contract before signing. If you’d rather earn top dollar on the sale than get it done quickly, find a local Realtor and sell your home the conventional way, which will likely prove more profitable.

FAQs

• How can I sell my house fast in San Antonio?

  “We buy houses” companies and iBuyers are likely the quickest approach to selling your home. With these businesses, the entire transaction can be completed within just a few weeks, as opposed to waiting around two months for your home to sell on the open market (the median was 55 days in January, per Redfin data).
  

• Are cash-offer companies legit?

  Yes, most cash-offer companies are legitimate real estate investment firms. It’s always important to do your homework when engaging in such a significant financial transaction, though, especially when you’re selling without a licensed agent to guide you. Take the time to research a company with the Better Business Bureau and read customer reviews online before you commit, and don’t sign anything without reading it very carefully and making sure you fully understand it.