✏️ 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.
HomeLight Simple Sale connects sellers with cash buyers and investors. They help you sell your property as is, without the need for repairs or showings.
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Pros
- 10-day closing window
- Wide network of Realtors and real estate companies
Cons
- You may not get the FMV for your property
- Inconsistent agent quality
HomeLight is a tech-driven agent matching service. In 2019, HomeLight introduced their Simple Sale program. HomeLight Simple Sale is a cash-buyer. This is a free service by HomeLight.
With HomeLight Simple Sale you can sell your house as is. HomeLight Simple Sale connects sellers with cash buyers or home flippers. They enable homeowners to sell in as few as 10 days.
However, this hassle-free approach comes with a significant trade-off. The transparency of HomeLight cash offers is unclear. You may not know how many cash offers you have or how many investors bid on your home. Moreover, investors may pay HomeLight a referral fee, which could affect your offer.
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✍️ Editor’s Take: We recommend listing your home with Houzeo. Houzeo’s tech-centric platform helps you manage multiple offers. Moreover,you can request the highest and the best offer without any manual comparison. Compare HomeLight Cash Offers vs. Houzeo.
Is HomeLight Simple Sale Legit?
Yes, HomeLight Simple Sale is a legitimate service by HomeLight. The company introduced this cash offer program in 2019.
However, it is vital to note that they do not provide the fair market value of your home. Their offers may be well below 50% to 70% of the actual value of your property.
How Does HomeLight Cash Offer Work?
HomeLight Simple Sale offers a competitive price for your home in as little as 10 days. They help you sell your home without additional fees, agent commissions, or prep work.
The process of selling with HomeLight Simple Sale is straightforward:
- Sign Up: Fill out your property details and contact information through the HomeLight’s website.
- Speak to a Home Consultant: Within 48 hours, a HomeLight representative will contact you about your home.
- HomeLight Cash Offers: They use your local neighborhood data and their investor network to find the best offer for your home. The process takes about a week.
- Review the Offer: Decide which offer is best for you and choose the date for your move.
- Get Paid: After closing the deal, you will receive payment within 10- days.
HomeLight Simple Sale Coverage
HomeLight Simple Sale offers services nationwide to sellers. However, cash buyers may be scarce in areas far from major cities.
How Much Does HomeLight Cash Offers Pay?
We analyzed multiple HomeLight Simple Sale reviews and evaluated their cash offers. We discerned that HomeLight Simple Sale’s offer price usually falls within the range of 50% to 70% of your home’s market value.
For example, for a house listed for $300,000, the HomeLight Simple Sale offer can go as low as $150,000 to $210,000.
HomeLight determines how much to offer for your home. According to their website, their offers depend on the neighborhood data and investor networks.
» 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.
HomeLight Simple Sale Reviews
HomeLight has a 4.6/5 star rating on Google from 531 reviews. Most of these are positive HomeLight reviews. However, most testimonials are specific to the core company, not HomeLight Simple Sale.
A few customers who posted their property information online have reported receiving phone calls from local agents. This issue was mentioned in reviews of HomeLight Cash Offer on BBB.
Positive HomeLight Simple Sale Reviews
✅ John was pleased with HomeLight Simple Sale services. According to him, he got a cash offer on the same day he listed his house.
When it got time to sell my house, I didn’t know where to start. I looked on the internet and came across HomeLight…I would highly recommend HomeLight if you are looking to sell a home. Their website is very easy to use and they provide a great service, which saved me a lot of time and trouble since I didn’t have to look for my own realtor.
Source: BBB
✅ According to Kristiana, HomeLight was a big help for them to sell their home. They were able to sell their house in 3 days with them.
Homelight was a great help for us in the selling of our home. It provided many different resources, cash buyers and listings agents. We were so happy to be connected with our listing agent Justin Ford who helped us sell our home in 3 days.
Source: Sitejabber
Negative HomeLight Simple Sale Reviews
❌ Fred stated that HomeLight Simple Sale has scanned the obituaries looking for properties from deceased owners. They continued to bombard him with calls for sale, even after he asked them to stop contacting him.
HomeLight Incs Simple Sales Home Buyers in **************, ** has obviously scanned the obituaries looking for properties from deceased owners…As a result, I would never consider using HomeLight Inc or Simple Sales Home Buyers is I ever wanted a quick, simple sale.
Source: BBB
❌ According to Rick, HomeLight Simple Sale contacted him for a cash offer. However, the agent they connected him with was not aware of the cash offer. He stated that the company sold his information to the realtors.
This company contacted me about a cash offer for my house. They connected me with a realtor who apparently wasnt aware of the cash offer and just proceeded as if we wanted to hire this agent.Do not reply to this company, do not connect them to the agent. They will not give you any cash.All they do is to sell your info to a realtor, profiting from you.There is no cash offer whatsoever.
Source: BBB
HomeLight Simple Sale Pros and Cons
It’s vital to weigh the advantages and disadvantages before selling your home with HomeLight Simple Sale.
Pros
» Jump to: Home Sellers | Home Buyers
HomeLight offers several advantages to both sellers and buyers:
For Home Sellers:
- Free Agent Matching: HomeLight offers free agent matching services. HomeLight furnishes details of the best real estate agents in your neighborhood.
- Estimators and Calculators: HomeLight offers Home Value Estimator, Best Time To Sell Calculator, Agent Commissions Calculator, and Net Proceeds Calculator to home sellers.
For Home Buyers:
- Home Search Feature: Buyers can search for homes by city, zip code, or address.
- Estimators: HomeLight offers estimators like Home Affordability Calculator, Down Payment Calculator, and Closing Costs Calculator for home buyers.
Cons
In our research, we have found some red flags associated with HomeLight.
- Lowball Offers: According to some HomeLight Simple Sale reviews, their offer price is around 50% to 70% of your home’s fair market value.
- Incessant Spamming: HomeLight Simple Sale will spam you once you register with them. HomeLight Simple Sale reviews state the persistent and unwanted communication from the company, even after refusing their cash offers.
HomeLight Simple Sale Competitors
» Jump to: HomeLight Simple Sale vs. Houzeo | HomeLight Simple Sale vs. HomeVestors | HomeLight Simple Sale vs. Opendoor
1. HomeLight Simple Sale vs. Houzeo
Selling with HomeLight Simple Sale seems hassle-free. But you pay for this convenience by selling your home below fair market value.
On the other hand, an MLS listing with Houzeo gives you extensive exposure to multiple cash buyers. You can use Houzeo’s cutting-edge technology to compare offers and request the highest and best one.
Moreover, you also get a chance to showcase your property to home buyers, ready to purchase a home in cash for a 100% value of your house.
| HomeLight Simple Sale | Houzeo | |
|---|---|---|
| Sale Price | 30% to 50% of FMV | Up to 100% of FMV |
| Customer Rating | 4.6 stars (532 reviews) | 4.9 stars (5,000+ reviews) |
| Closing Timeline | 10 to 30 days | 2 to 60 days |
| Fees | ❌ | $399 |
| Scope for Negotiation | ❌ | ✅ |
| Compare Offers | ❌ | ✅ |
| Highest and best offers | ❌ | ✅ |
2. HomeLight Simple Sale vs. HomeVestors
HomeVestors also has a similar business model to HomeLight Simple Sale. They provide cash offers around 70% of your home’s after-repair value. Moreover, with HomeVestors, you can negotiate and secure a better deal.
3. HomeLight Simple Sale vs. Opendoor
Opendoor is an iBuyer and offers a better deal than HomeLight Simple Sale. They offer around 70% to 80% of your home’s potential.
However, Opendoor has stringent criteria for the properties they purchase. As a result, Opendoor is not a good choice if you want to sell a distressed property.
“We Buy Houses for Cash” Companies Near You
There are other “We Buy Houses As Is” companies in the market. You can request offers from multiple cash companies and pick the one that suits you the best.
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 helps you to get 100% FMV of your house in cash.
- 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%.
Should You Sell With HomeLight Simple Sale?
When it comes to selling distressed properties, HomeLight Simple Sale is a good option. This service assists sellers in selling their houses quickly. However, HomeLight Simple Sale reviews are few and mostly negative.
A smart way to sell to a cash buyer is to list your home on the MLS with Houzeo. Houzeo lists your property within 24 hours while providing wide exposure to attract multiple cash buyers.
Houzeo’s platform allows you to compare offers and request the highest and best offer. This gives you an opportunity to grab a better deal. Moreover, you can also attract home buyers who are ready to pay 100% of your home’s value in cash.
» Houzeo Reviews: Check out why more than 6,900 home sellers have rated Houzeo 4.9 stars out of 5 on Google and Trustpilot.
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Frequently Asked Questions
1. What is Homelight Simple Sale?
HomeLight Cash Offers or HomeLight Simple Sale is a free service by HomeLight. This service helps sellers to sell their houses fast for cash. However, they do not provide the fair market value of your house. Their offers can go below 30-50% of the value of your home.
2. How Much is HomeLight Simple Sale Commission?
If you choose to sell through HomeLight Cash Offers you don't have to pay anything unless you choose a top real estate agent to list locally. Check out HomeLight Cash Offers to know more.
3. How Does HomeLight Simple Sale Work?
HomeLight Cash Offers helps you sell your home fast for cash. They offer a competitive price for your home in as few as 10 days. Check out how HomeLight Cash Offer works.
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