✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.
Tarek Buys Houses is a cash buyer that purchases distressed properties. They have a linient buying process that doesn't require any repairs and maintenance.
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Pros
- Purchases homes as-is
- Extends offers within 24 hours
- Closes deals in as less as 7 days
- Suitable for inherited property sales
Cons
- Provides lowball offers (50%-70% of the FMV)
- Little scope to negotiate cash offers
- Limited coverage
Tarek Buys Houses is a cash buyer that makes offers for homes as-is. By as-is, Tarek Buys Houses refers to all types of properties in any condition. Additionally, Tarek Buys Houses promises to close in 7 days.
Like most cash-buyer companies, Tarek Buys Houses offers 50% to 70% of the fair market value. Such an offer might be great if your property requires significant repairs.
However, if your home is in fairly decent condition, Tarek Buys Houses might not be the best option. So, can you attract better deals? An MLS listing can help you get ‘close to FMV’ offers for your house.
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✍️ Editor’s Take: List your property on the MLS via a Flat-Fee company like Houzeo. Houzeo can list your property within 24 hours. Compare Tarek Buys Houses vs. Houzeo.
Is Tarek Buys Houses Legit?
Tarek Buys Houses LLC is a legitimate cash buyer. The company was founded by the real estate investor and media personality, Tarek el Moussa. They are headquartered in Anaheim, California.
Tarek Buys Houses flip hard-to-sell properties for cash. Since they deal in distressed properties, you are likely to lose on your home’s equity. You could lose 30%-50% of the FMV.
How Does Tarek Buys Houses Work?
It is pretty simple to sell with Tarek Buys Houses. Tarek Buys Houses requires you to follow 3 steps. These are as follows:
- Register on the Website: Enter basic details of your property like address, physical condition, etc. to help TBH estimate the value of your property. Post evaluation, TBH gives you a preliminary offer.
- Schedule a Walk-through: A Tarek market expert examines the condition of your property and gives you an updated offer.
- Review Offers: Once satisfied with the updated offer, you can accept it.
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👉 PRO TIP: Most cash buyers give you a single offer. Therefore, we suggest you register with multiple cash buying companies.
Who Should Sell With Tarek Buys Houses?
You can consider selling their properties to Tarek Buys Houses if you are a:
- Seller with inherited property
- Homeowner unwilling to bear repair costs
- Landlord with difficult tenants
- Homeowner facing foreclosure
Tarek Buys Houses: Coverage
Tarek Buys Houses operates in 2 states – California and Oklahoma. Based on their website, TBH offers their services in all major counties across Southern California. Whereas, they are only available in Tulsa county in Oklahoma.
The company is registered at 4411 E La Palma Ave, Anaheim, CA 92807, USA.
How Much Does Tarek Real Estate Pay?
Tarek Buys Houses pays around 50%-70% of the fair market value. For example, the fair market value of your distressed property is $300,000. You can expect an offer in the range of $150,000-$210,000 from Tarek Buys Houses.
Tarek Buys Houses arrives at this price by looking at various factors. They compare property prices in your locality, repairs needed in the house, and location. Ultimately, their offer is non-negotiable.
» What’s My Home’s Value: You can know your home’s market value with Houzeo’s free Home Worth Estimator. It helps you estimate the amount you will get upon sale.
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👉 NOTE: The company does not charge any fee from you. Basically, there are zero commissions and zero fees.
Customer Reviews
Tarek Buys Houses has a solid rating of 4.7 out of 5 on Google across 57 reviews. Moreover, 4.36 out of 5 based on 28 reviews on BBB.
Tarek Real Estate: Praises
✅ Megan R. feels that Tarek Buys Houses is trustworthy as they do what they advertise. The company helped her sell as fast as possible and at a fair deal.
I highly recommend them if you want to sell your home quickly as is for a fair price. They turned out to be professional, trustworthy, and lived up to the task as advertised on tv and on their website. Alex was very helpful and courteous during the process, made sure to explain everything, and it really was hassle free.
Source: Yelp
✅ Janice Yotsuya felt extremely satisfied with the offered price and the smooth selling process. Tarek Buys Houses truly surpassed her expectations.
I needed to sell my home quickly and was advised by family and friends to sell it “as is” for cash. A friend recommended Tarek Buys Houses because she had seen his show. I called and was connected with Patrick who visited me later that day. After a quick tour of my house, he explained TBH’s process and gave a reasonable offer. Patrick was great to work with and kept me informed all the way to closing. Thanks to him and the Escrow team, they made what would have been a very stressful situation an easy stress-free one. I would definitely recommend TBH.
Source: Google
Tarek Buys Houses: Complaints
According to our research, we could not find many negative reviews. TBH sellers, however, received less than fair market value offers according to a few Google reviews (2-3 years old).
Tarek Buys Houses: Pros and Cons
It is important to weigh the pros and cons to decide whether Tarek Buys Houses is worth giving a chance.
👍Pros
Here are some pros that work in your favor.
- Buys Home as-is: The company buys houses in all conditions. You need not worry about repairs and maintenance.
- Quick Closing: According to Tarek Buys Houses reviews, you can close deals within a week. This is helpful for those having tight timeframes.
- Funds your Next Home: Tarek Buys Houses helps you fund your dream house in partnership with US Lending.
👎Cons
Here are the limitations of Tarek Buys Houses.
- Lowball Cash Offers: Tarek Buys Houses extends lowball offers i.e. 50%-70% of the FMV.
- No Scope for Negotiation: All of the deals are take-it-or-leave-it. So, if you don’t like the deal, the company simply moves ahead with the next seller.
- Limited Coverage: Tarek Buys Houses operates only in 2 states. Additionally, they are available in select markets.
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👉 IMPORTANT: You can get your home appraisal done beforehand to know the fair market value of your property. That way, it will be easy for you to reject and accept offers for your property from cash-buying companies.
Tarek El Moussa Business Competitors
» Jump to: Tarek Buys Houses vs. Houzeo | Tarek Buys Houses vs. Sundae | Tarek Buys Houses vs. We Buy Ugly Houses
Tarek Buys Houses has many competitors. These competitors are as follows:
Tarek Buys Houses vs. Houzeo
With Tarek Buys Houses you can expect to sell faster for cash. The company provides you with a cash offer based on your property evaluation. However, you will notice that you lose around 30%-50% on your home’s FMV.
On the other hand, Houzeo is a cash-buyer marketplace. They help you list your home on the MLS within 24 hours. Here, multiple national and local cash home buyers make offers on your property, driving up its price. You can even get 100% of your home’s FMV.
| Tarek Buys Houses | Houzeo | |
|---|---|---|
| Sale Price | 50% to 70% of FMV | Up to 100% of FMV |
| Customer Rating | 4.7 stars (57 reviews) | 4.9 stars (6489 reviews) |
| Closing Timeline | 7 to 45 days | 2 to 60 days |
| Fees | ❌ | $399 onwards |
| Closing Costs | ❌ | 0% to 1% closing costs |
| Scope for Negotiation | ❌ | ✅ |
| Repair Costs | ❌ | ✅ |
Tarek Buys Houses vs. Sundae
Tarek Buys Houses is a cash buyer that extends a single cash offer based on location, value of comparable houses, and property’s condition. On the contrary, Sundae is a cash buyer marketplace that provides you with multiple cash offers.
Sundae connects you with 2600+ real estate investors and gives you more options to sell.
Tarek Buys Houses vs. We Buy Ugly Houses
We Buy Ugly Houses (different from We Buy Houses) is a nationally-recognized brand. The company has various branches in the US. So, do look for the nearest branch on their website.
We Buy Ugly Houses has an edge due to their price offers. They provide better deals than Tarek Buys Houses. But when it comes to speed, Tarek Buys Houses wins in this regard.
Additionally, We Buy Ugly Houses has a longer closing time i.e. up to three weeks as opposed to Tarek Buys Houses which is just a week.
Companies That Buy Houses for Cash Near Me 🔍
Other Options You Should Consider
- Sell For Sale By Owner: For Sale By Owner, websites help you list and sell a house yourself, saving thousands in agent commissions. Around one-third of home buyers pay in cash. Hence, selling FSBO gives you an opportunity to get 100% FMV of your house in cash.
- Sell to an iBuyer: iBuyers purchase homes needing minimal repairs in as-is condition. They can be a great option if you want to sell your house fast. However, iBuyers have stricter criteria as compared to cash buyers.
- Sell through a Realtor: Traditional realtors list your property on the MLS and help you at every step of home selling. However, you have to pay them 3% of the home’s sale price for this convenience.
- Sell through Discount Realtors: Discount Real Estate Brokers reduce their commissions to offer affordable services. Their commission varies between 0.5% and 2%. However, they offset these discounts by offering limited services.
Tarek Buys Houses Reviews: Is Tarek Buys Houses Worth Trying?
Tarek Buys Houses can be worth trying if you wish to sell your distressed property fast. They help you offload your home in a week’s time. Moreover, you can review a cash offer in as little as one day and close as soon as possible.
With TBH, you don’t have any obligation to accept the offer. If you don’t like the offer, you can simply move ahead with other cash buyers and cash buyer marketplaces.
It is important to note that you can get a good price if your home is in decent condition. Houzeo, for instance, can list your home on the MLS within 24 hours and attract great cash offers.
You can easily compare offers using Houzeo’s tech-centric dashboard and close 100% in cash.
» Houzeo Reviews: Read what 7,800+ people are saying about Houzeo.
📞 Need Help? Schedule a FREE Consultation
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Frequently Asked Questions About Tarek Buys Houses
1. Is Tarek Buys Houses legit?
Yes, Tarek Buys Houses is a legitimate company founded by Tarek el Moussa. They are in the business of purchasing distressed properties, fixing them, and selling them at a profit.
What is the process to sell with Tarek Buys Houses?
It is pretty simple to sell with Tarek Buys Houses. You enter details of your property, schedule a walk-through, and view cash offer by TBH in the end. Learn more here.
What are some Tarek Buys Houses competitors?
It is pretty simple to sell with Tarek Buys Houses. You enter details of your property, schedule a walk-through, and view cash offer by TBH in the end. Learn more here.
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