In Q2 2024, over 30% of US homes sold for cash. A cash sale means no repairs, no delays, and a quick 7-14 day closing. No wonder Los Angeles homeowners ditch repairs and choose cash buyers for a hassle-free sale!
But here’s a downside! Cash buyers offer just 30% to 70% of your home’s Fair Market Value. Don’t stress—just enter a cash buyer marketplace. Here you can receive offers that can reach up to 100% of your home’s value!
Reviews: 5 Top Cash Home Buyers in Los Angeles
1. Houzeo.com: Los Angeles’ #1 Cash Home Buyer Marketplace
MAX EXPOSURE TO CASH BUYERS
Listing Fee: $199Houzeo is the best option if you’re looking for multiple cash offers. Your MLS listing will be exposed to local and national cash buyers, increasing the number of offers you receive.
- Pricing:
- Silver Plan – $199: 6-month MLS listing, 24 photos.
- Gold Plan – $249: Maximum photos, contract review, seller disclosures, licensed broker assistance.
- Platinum Plan – $299: Everything in Gold with a 12 month listing and virtual full-service with licensed broker.
» Houzeo Reviews: Find out why Houzeo is one of America’s best cash buyer marketplaces.
Houzeo is America’s #1 cash buyer marketplace because of 5 reasons:
- Max Exposure: Houzeo’s packages give you access to the MLS and 100s of websites like Zillow, Realtor.com, Redfin, etc.
- 5-Star Customer Service: Houzeo’s customer service desk is available 6 days a week. Chats and emails are open 7 days a week.
- 100% Online: Houzeo is high-tech. For you, this means easy listing, fast changes, online showings, and online offers.
- No Listing Commission: You’ll pay just a small flat fee to list on MLS. You get to bypass the 3% listing agent commission!
There are no dealbreakers with Houzeo.
» Houzeo Pros and Cons: Read the advantages and disadvantages of choosing Houzeo to sell your home for cash.
Houzeo is rated 4.9 out of 5 stars by thousands of home sellers on Google & Trustpilot.
With Houzeo, you can connect with Los Angeles’s best cash home-buying companies and individual investors. You can also get multiple competitive offers for your home. This increased exposure helps you get maximum profit.
2. John Medina Buys Houses
No Hidden Fees
Service Fee: NoneJohn Medina Buys House is a trusted cash-buying company in Los Angeles. It can help you close your house sale faster. Mostly, within 24 hours you will receive your first closing offer.
- Service Fee: They do not charge any commission or fees to sell your house. But, the closing prices can be lower than the market value.
- Typical Offer: It offers you the closing price at 50% to 70% of the Fair Market Value (FMV).
- Eligible Properties: John Medina Buys House deals in all types of single-family homes that want to sell their house fast without any repairs.
- Closing Offer Terms: They close the home sale within 7 business days or whenever the seller decides.
👉 Our Take: John Medina Buys Houses is best for home sellers looking for instant offers. But, if you want better offers, you should list your home on the MLS.
- Fast Cash Offers: You will get your first offer within a working day.
- Quick Closing: John Medina Buys Houses offers flexible closing from one week to any time of your choice.
- Sell As-Is: You need not prep your home before the home inspection and can sell your house as is. They will make all the repairs and do renovations.
- Limited Control: John Medina Buys Houses, often have a set process to follow and a selling price they’re willing to pay. You might have to just go their way without negotiating on price or terms.
- Lowball Cash Offer: The final cash offer may be below the property’s fair market value, around 70%. They may also deduct repair and closing costs.
John Medina Buys Houses has 4.7 out of 5 stars from 45+ reviews on Google Reviews.
» John Medina Buys Houses Reviews: Read our in-depth review of John Medina Buys Houses.
John and Yvette Medina founded Los Angeles, CA-based “John Medina Buys Houses” in 2013. In the last two years, they have expanded their business to the entire state of Los Angeles.
They offer quick closing and instant cash deals. However, previous customers have complained that the deal did not go through and they received no explanation.
3. Express Home Buyers
As-Is Cash Home Buyer Network
Service Fee: NoneExpress Homebuyers specializes in making all-cash offers on distressed houses. They cater to home sellers who want to sell their houses fast without making any repairs.
- Service Fee: None
- Typical Offer: You can get up to 50% to 70% of your house’s fair market value (FMV).
- Eligible Properties: Express Homebuyers specializes in inherited houses, homes sold after divorce, foreclosure properties, rental properties, and more.
- Closing Offer Terms: While they usually close within 2 to 4 weeks, they have a flexible closing timeline and can buy your home at your convenience.
- Flexible Closing Date: Closing dates can be finalized as per the home seller’s terms.
- No Charges or Fees: Express Homebuyers does not charge you any fees. You will receive the full selling price based on market research and the house’s conditions.
- Sell As-Is: You need not prep the home for listing, home staging, or worry about making repairs.
- Poor Customer Support: Previous clients have complained about their lack of communication and half-hearted responses.
- Non-Negotiable Offer: Your house will receive a non-negotiable cash offer. You must either accept or decline the offer without requesting changes or modifications. The offer will not be more than 80% of the property’s Fair Market Value.
Express Homebuyers has a rating of 4.4 out of 5 stars with 150+ reviews on Google Reviews.
» Express Homebuyers Reviews: Is there no service fee?
Jud Allen and Brad Chandler founded Express Home Buyers in 2003. Though they are available in 27 states and DC, they are based in Springfield, VA.
Express Home Buyers is a cash home buyer with over 20 years of experience. However, they have poor customer support which can delay your sale.
4. Opendoor
BIGGEST IBUYER
Service Fee: 5%Opendoor is the biggest iBuyer in the U.S. They offer cash for your home within 24 to 48 hours of submitting your details on their website. Opendoor is also flexible with closing timelines and move-out dates.
- Typical Offer: 70% to 80% of your property’s Fair Market Value.
- Eligible Properties: Opendoor will make cash offers only on owner-occupied properties built post-1930 with a maximum lot size of 1.5 to 2 acres. Prefabricated homes or homes with tenants do not qualify for Opendoor’s cash offer.
- Closing Offer Terms: Opendoor claims to let you close at your pace, up to 45 days after their offer. However, be aware that your final offer may change after the condition adjustment.
- Service Fee: You will be charged 5% of the home sale price.
Here are some of the benefits that you get with Opendoor:
- Broad Coverage: Opendoor makes cash offers for houses in 51 markets across the country.
- Sell As-Is: Opendoor helps you avoid the hassle of making repairs and you can sell your house as-is.
- Late Checkout up to 14 Days: Opendoor lets you temporarily stay in your home for up to 2 weeks after closing.
- No Cancelation Fees: Opendoor does not charge any cancelation fee. You can cancel the contract anytime.
In our research, we have found certain drawbacks of Opendoor:
- Lowball Cash Offer: Opendoor’s final cash offer may be below your property’s Fair Market Value, around 70%. They also deduct repair and closing costs.
- Hefty Service Fees: Opendoor will charge you a steep 5% service fee for their services.
- Strict Eligibility Criteria: Opendoor doesn’t pay cash for inherited properties, homes with tenants, pre-fabricated or mobile homes, and properties located in a flood zone.
Opendoor has a rating of 4.4 out of 5 stars on Reviews.io.
» Opendoor Reviews: Read customer reviews and our breakdown of Opendoor’s cash offer to make an informed decision.
You can get a maximum of ~80% of your property’s fair market value with this iBuyer. If you meet their eligibility criteria, you can sell your home and close the sale in just 2 weeks.
However, the Opendoor cash offer could be much lower than your property’s FMV. Their service fee is also a steep 5% of your home’s sale price. Moreover, their repair cost breakdown is not disclosed in the closing statement.
5. Sundae Real Estate
PRE-VERIFIED INVESTOR NETWORK
Service Fee: NoneSundae Real Estate connects homeowners with cash investors who are ready to buy your house. When you list your home with Sundae, it will be advertised to their network of prequalified investors.
- Service Fee: Sundae does not charge any platform fee.
- Typical Offer: Cash offers for homes are significantly below fair market value, often by 30% to 70%.
- Eligible Properties: Investors look for vacant houses, inherited houses, foreclosure properties, homes damaged due to natural calamity, immediate sale due to relocation, etc.
- Closing Time: Every investor will have a different timeline. It may be within 10 to 60 days.
👉 Our Take: No matter how distressed your property is, Sundae investors make a cash offer for it. You can list your house on the Sundae platform to sell quickly.
- Marketplace With Pre-Qualified Investors: Sundae has over 3,000 pre-verified real estate investors. It acts as the communication platform between the home seller and the home buyer till the property closes.
- Multiple Cash Offers: Interested Sundae investors will make bids on your distressed house. If your home is appealing, it may attract multiple cash offers.
- Cash Advance of Up To $20,000: Eligible home sellers can receive up to $20,000 through Sundae’s Cash Advance Program. To apply for this program, you must inform the closing manager as soon as you sign the purchase agreement. Once all the paperwork is completed you may stand eligible for the same.
- No Upfront Costs: When selling with Sundae, you don’t have to invest in home staging companies to renovate or repair. You can sell your house as-is.
- Serves Only 2 States: Sundae homebuyers operate only in California and Texas.
- Non-Negotiable Cash Offers: Sundae homebuyers will not offer more than 70% of your property’s fair market value. You can try to negotiate, but Sundae investors will rarely budge on the price.
- Home Selling Experience Depends on the Investor: When you sell your house to Sundae, you’re selling to a local investor. Your experience might vary depending on the offer you choose.
Sundae has an average rating of 3.96 out of 5 stars on Better Business Bureau, with 95+ reviews, and 3 out of 5 on Google, with 8 reviews.
» Sundae Real Estate Reviews: Is it a better cash investor marketplace in 2024?
Sundae Real Estate is a pre-vetted network of investors. It is ideal for home sellers looking to offload their property as is.
No matter the condition of the property, you will get an offer when you list it on Sundae.com. The cash offer will likely be 50% to 70% of the home’s market value though.
Are Companies That Buy Houses for Cash in Los Angeles Legit?
Yes, companies that buy houses for cash are legitimate and operate legally nationwide. In fact, the National Association of Realtors (NAR) validates cash buyers in the City of Angeles. However, be sure to read company reviews and seller testimonials to find a legitimate cash buyer.
3 Types of Companies That Buy Homes in Los Angeles
- We Buy Houses for Cash Companies: Cash buyers like HomeVestors and John Medina Buys Houses purchase distressed homes, typically paying 30% to 70% of their FMV.
- iBuyers: iBuyers, such as Opendoor and Offerpad, provide instant cash offers between 70% and 80% of the FMV. They have strict eligibility requirements, limiting the types of homes they purchase.
- Home Trade-In Services: Companies like Knock or Orchard offer cash for your home before you move out. This helps you buy your new house without any delay.
4 Steps to Sell Your Home for Cash in Los Angeles
Not sure how to sell your home for cash in Los Angeles? Just follow these 4 steps:
- Find a Cash Home Buyer: Research all local companies buying houses for cash and opt for one with great client testimonials.
- Request an Offer: Once you’ve selected a cash buyer, request an offer on their website. You’ll have to provide information like the property type, number of rooms, asking price, etc.
- Schedule a Home Visit: A company representative will then inspect your house. The final cash offer will be based on the outcome of this inspection.
- Close the Deal: If you’re happy with the offer, finalize the deal. Remember to get all the paperwork for selling a house without a Realtor verified by a real estate attorney.
How Much Do Cash Buyers in Los Angeles Pay?
Los Angeles cash house buyers usually offer between 30% to 70% of a home’s After-Repair Value. However, it depends on factors like the company you’re selling to, their service fees, etc. Here’s how the After-Repair Value is calculated:
After-Repair Value (ARV) = Property Purchase Price (PPP) + Cost of Repairs (COR)
Imagine if you were selling your $1,072,000 home in Los Angeles. With a traditional cash home buyer, you could get just $750,400. But on a cash buyer marketplace like Houzeo, you could get multiple offers, potentially driving your sale price to 100% of its FMV.
| Service Provider | Service Fee | ARV Estimate | Actual Offer |
| Cash Buyer | None | 70% | $750,400 |
| iBuyer | 5% | 80% | $857,600 |
| Houzeo | $199* | Up to 100% | $1,071,801 |
» Houzeo Reviews: Find out why Houzeo is Los Angeles’s best cash buyer marketplace.
Pros and Cons of Cash Home Buyers in Los Angeles
Given that more sellers are opting for companies that buy houses for cash in Los Angeles, here are some pros and cons you must consider before you sell with them:
✅ Pros
- Fast Cash Offers: “We Buy Houses for Cash” companies extend offers within 24-48 hours.
- Flexible Closing: Cash buyers in Los Angeles close quickly and on your timeline. So you can sell your home anywhere between 7 days to 30 days.
- No Repair Costs: Most cash buyers purchase properties as-is. This eliminates the need for repairs, saving thousands of dollars.
❌ Cons
- Lowball Cash Offers: Los Angeles cash house buyers typically pay only 30% to 70% of a home’s FMV. So you leave a significant amount of your home’s equity on the table.
- Non-Negotiable Deals: Such cash offers are usually take-it-or-leave-it. There’s little to no room for negotiation, which limits your ability to secure a better offer.
- Possible Closing Costs: Some cash buyers might force you to pay seller closing costs in California. Always check the terms, or you could be out 6.25% to 9%!
Common “We Buy Houses for Cash” Scams 🚩
If any Los Angeles cash home buyer extends an offer that seems to-good-to-be-true, it probably is. Stay alert, and don’t fall victim to the following scams.
- Bait-and-Switch Offers: Scammers present appealing offers and then change them later, hoping you’ll accept out of desperation. Always verify the terms before you sell your house for cash or accept an offer.
- Deed Fraud: Fraudsters can sell or mortgage your home without your consent using fake documents. Check customer testimonials and online reviews before you select a cash buyer.
- Loan-Flipping Scams: Some scammers may pressure you to sell your home fast for cash by offering loans that drain your equity. Always consult a trusted advisor before agreeing to any cash offer.
- Email Phishing: Scammers send fraudulent emails pretending to be agents, title companies, or lenders. They trick you into wiring money or providing personal details for fake services. Always confirm the authenticity of any cash offer for a home via a phone call.
» We Buy Houses Ripoff: Learn how to avoid falling victim to the scam.
Alternatives to Companies That Buy Houses for Cash in Los Angeles
- Flat Fee MLS Services: You can get up to 100% of your home’s FMV with a California Flat Fee MLS listing service. Your home is visible to multiple cash buyers, increasing your offers.
- For Sale By Owner: In a FSBO sale, you’ll have to opt for “DIY” marketing strategies like using yard signs, word of mouth, open houses, etc. California FSBO websites also limit your home’s exposure, which lowers your home sale price.
- Full-Service Realtors: They provide various services from listing to closing, but charge a hefty 5% to 6% commission.
- Discount Real Estate Brokers: They offer services like contract review and negotiation for a lower fee than traditional agents. Discount brokers in Los Angeles charge between 0.5% to 2.5% as commission.
Should You Sell to Cash Home Buyers in Los Angeles?
Yes, you can sell to cash buyers. But say goodbye to 30% to 70% of your home’s equity. That’s the price you pay for a quick sale. On the other hand, on a cash buyer marketplace, you can get multiple offers, sell fast, and potentially keep more money.
Frequently Asked Questions
Which is the best company that buys houses for cash in Los Angeles?
Houzeo is the best cash buyer marketplace in Los Angeles. Companies like John Medina Buys Houses and Express Homebuyers are other great options for selling homes for cash.
How can you sell to companies that buy houses for cash in Los Angeles?
To sell to companies that buy houses for cash, first research local cash buyers in Los Angeles or use a cash buyer marketplace. Then, submit your home’s information and get an offer within 24-48 hours. You can complete the sale in as little as a week once you finalize the agreement.
How fast can I sell my Los Angeles house?
You can sell your house fast for cash in California within 7 to 30 days with a cash home buying company. However, you get only 30% to 70% of your property's Fair Market Value. To get a higher price, sell to a cash buyer marketplace like Houzeo and attract multiple cash offers.
What to look for when choosing cash home buyers?
Look for legitimate cash home buyers that have a great reputation in the industry. They should have positive customer reviews on platforms like Google and Trustpilot that highlight their transparent processes and fair offers.
