✏️ 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.
Equity Cash Offer is a traditional 'We Buy Houses for Cash' company. They purchase distressed homes quickly helping sellers who are on a time crunch.
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Pros
- You get a cash offer in 24 to 48 hours.
- You avoid all closing and repair costs when you sell to Equity Cash Offer
Cons
- Equity Cash Offer may get you just 50% to 70% of your home's FMV
- You may not be able to negotiate the offer you receive
Equity Cash Offer is a real estate company that makes cash offers on homes as-is. They provide a quick closing timeline that helps sellers who need money urgently.
However, like other cash buyers, you get a lower value for your home. You may get an offer that is just 50% to 70% of your property’s Fair Market Value.
An MLS listing on a cash buyer marketplace like Houzeo can get you 100% of your property’s value. With Houzeo, your listing can be on the MLS within 24 hours. Moreover, you can compare offers from multiple national and local cash buyers, instead of settling for just one lowball offer.
In this blog, let’s look at Equity Cash Offer reviews and their alternatives to help you get the property value you deserve!
Key Takeaways
- Pros: Equity Cash Offer lets you offload your distressed property easily. You can sell your home in just 7 days and get quick cash in your bank.
- Cons: Equity Cash Offer gives you just 50% to 70% of your home’s value. Further, they cater to sellers residing in Texas. So, homeowners in other states may have trouble selling their homes to this buyer.
- Our Take: We don’t recommend Equity Cash Offer. Instead, list your home on a cash buyer marketplace like Houzeo to get 100% of your property’s Fair Market Value. Compare Houzeo vs. Equity Cash Offer.
What is Equity Cash Offer?
Equity Cash Offer is a cash home buyer that operates in Texas. They buy houses as is, repair them, and sell for a profit.
Essentially, Equity Cash Offer is a fixer-upper that invests in rundown homes. In some instances, they even rent out the properties they purchase.
Equity Cash Offer vs. Houzeo
Selling to Equity Cash Offer seems hassle-free. But you pay for this convenience by selling your home at a reduced price.
On the other hand, an MLS listing with Houzeo’s Gold plan equips you with advanced technology to call for the highest and best offers. You can also counter offers to help you get a deal closer to your expectations.
| Equity Cash Offer | Houzeo | |
|---|---|---|
| Sale Price | 50% to 70% of FMV | Up to 100% of FMV |
| Customer Rating | 4.6 stars (43 reviews) | 4.9 stars (4,523 reviews) |
| Closing Timeline | 7 to 45 days | 2 to 60 days |
| Fees | ❌ | $379 |
| Closing Costs | ❌ | 1% to 3% Closing Costs |
| Scope for Negotiation | ❌ | ✅ |
| Repair Costs | ❌ | ✅ |
» Houzeo Reviews: Still not convinced? Read what customers have to say about Houzeo.
Equity Cash Offer: Pros and Cons
Equity Cash Offer is a convenient option for sellers who need cash fast. However, their pros and cons paint a clearer picture:
✅ Equity Cash Offer Pros
Cash home buyers have certain advantages over traditional home-selling processes. Let’s see how Equity Cash Offer matches up to these expectations.
- Buy As Is Houses: This “We Buy Homes Fast” company purchases homes as is. So, even if your property needs repairs, you will get a cash offer.
- Quick Closing: Equity Cash Offer reviews say they close in as little as a week. However, their timeline is flexible, and they can close on a date suitable to you.
⛔ Equity Cash Offer Cons
Equity Cash Offer complaints reflect the following disadvantages of the company:
- Lowball Cash Offers: Equity Cash Offer views your house as an investment opportunity. So, your offer price may be much lower than the market price of your property.
- Little to No Scope for Negotiation: With cash home buyers like Equity Cash Offer, you don’t have room to negotiate your cash offer. If you still want to try your luck, ensure that you back your arguments with proof.
» 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.
Best Alternatives to Equity Cash Offer
Even if you want to sell your house fast for cash, look for some alternatives better than Equity Cash Offer. We’ve listed three below:
- Houzeo: Houzeo is one of the best FSBO websites in America that lets you list your home on the MLS in just 24 to 48 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.
- Opendoor: Opendoor is the largest iBuyer in America extending cash offers for homes needing minimal repairs. They generally pay 70% to 80% of your home’s FMV but deduct a 5% service fee, closing costs, and repair costs from the offer.
- HomeVestors: HomeVestors is a cash home buyer franchise offering 50% to 70% of the home’s FMV. However, they may deduct repair costs at closing. Further, since each office is independently owned, you won’t get consistent service across the country.
“We Buy Houses for Cash” Companies Near Me
There are other “We Buy Houses As Is” companies in the market. You can request an offer from multiple cash companies and pick the one that suits you the best.
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Frequently Asked Questions About Equity Cash Offer
1. Is Equity Cash Offer legit?
Yes, Equity Cash Offer is a legitimate company that offers its services in Texas.
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