✏️ 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.
HomeVestors is a network of real estate investors. The company buys distressed properties for cash. However, they offer 50% - 70% of the fair market value on your home.
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Pros
- Buy properties in any condition
- Nationwide coverage
Cons
- HomeVestors offers go as low as 50% of the home’s FMV
- You have little to no scope for negotiation
- Your experience with HomeVestor's depends on the investor you work with
HomeVestors is a cash-buyer. They are run by a network of real estate investors. HomeVestors is known by their famous trademark, “We Buy Ugly Houses”. This trademark comes from the fact that they buy distressed properties.
With HomeVestors, you can sell your house as is. However, this hassle-free approach comes with a significant trade-off. As is the case with most cash buyers, HomeVestors too will only offer 50% to 70% of your home’s market value.
HomeVestors operates on a home-flipping model. They buy your property, repair it, and sell it for a profit. We recommend you list with a Flat Fee MLS company. With an MLS listing, you can attract multiple cash buyers and do not have to settle for a lower offer.
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✍️ Editor’s Take: We recommend you list and sell your home with Houzeo over HomeVestors. Houzeo offers you a platform where you can attract and manage multiple cash offers. Compare HomeVestors vs. Houzeo.
Is HomeVestors Legit?
Yes, HomeVestors is a legitimate cash buyer and the parent company of We Buy Ugly Houses. Founded in 1996, the company has over 1,100 franchises across 47 states.
Levine Leichtman Capital Partners (LLCP), a Los Angeles-based firm, previously owned the company. Later on, Bayview, a global investment management organization, acquired HomeVestors in January 2022.
How Does HomeVestors Work?
HomeVestors works on a franchise model. Therefore, your experience depends on the investor you work with. You can close in as little as 3 weeks. Here are the steps to sell your house as-is with HomeVestors.
Process of Selling With HomeVestors
The steps of selling with HomeVestors are straightforward. HomeVestors’ team will visit your property, evaluate its condition, and make you an all-cash offer.
- Schedule a Visit: You can schedule a visit by filling out a form with your property details and contact information on their website. You can also call them on the number given on their website to schedule the visit.
- Receiving a Cash Offer: A HomeVestors property agent will visit your property and review its condition. Based on their evaluation, HomeVestors will make you an all-cash offer.
- Filling out Paperwork: HomeVestors of America will handle the paperwork once you accept their cash offer.
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🚩 Remember: Make sure you research the market value of your home before contacting HomeVestors. Conducting thorough market research will provide you with valuable information about the current prices in your area.
HomeVestors Coverage
HomeVestors operates on a franchise model. This approach has allowed them to have coverage across 47 states in the US.
How Much Does HomeVestors Pay?
HomeVestors offers are in line with industry standards. Their offers range between 50 – 70% of your home’s market value. For instance, for a home worth $300,000 your offer could range between $150,000 – $210,000. This does not seem very lucrative.
We feel competitors of HomeVestors that offer up to 80% might be a better option for you. You should also consider selling on a cash buyer marketplace. On a marketplace, you are likely to receive multiple cash offers. This enhances your chances of getting FMV for your home.
» 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.
HomeVestors Reviews
» Jump to: Positive Reviews | Negative Reviews
HomeVestors has no credible reviews on popular sites like Google or Trustpilot. However, they have a rating of 1.51 stars out of 5 from 37 HomeVestors reviews on Better Business Bureau (BBB).
Positive HomeVestors Reviews
✅ Lee was satisfied with HomeVestors’ customer service. They stated that the company handled their concerns fairly.
I sold a home to a HomeVestors Franchisee. They treated me fairly & closed super fast. I’m very impressed and if i ever have a situation come up like this in the future i would trust them to treat ******* family well. Thanks
Source: BBB
✅ Jennifer praised HomeVestors for handling the paperwork, repairs, and other matters while she dealt with the loss of her parents.
My parents passed away, and left me their home in extremely poor condition…I live in another state which complicated matters even more. Realizing the repairs that needed to be done was daunting; the task seemed impossible, and I needed a solution. I contacted several investors and while I had a few offers, I chose to work with Jose because he made me feel secure.
Source: BBB
Negative HomeVestors Reviews
❌ Kenneth is frustrated with HomeVestors. He declined their cash offers but still receives spam phone calls, texts, and emails.
I keep telling this place that I do not want to sell my home but I keep getting unsolicitied phone calls, texts, and mail. I’ve explain this over a dozen times but they still keep calling me, texting me and sending crap in the mail. I’m tired of it! I’m a retired service man that suffers from PTSD from a noncombat situation. Leave me alone!
Source: BBB
❌ John was not pleased with the company’s lowball offer. As per the review, he felt the agent was generally trying to take advantage of owners in financial straits.
I was not pleased with my interaction with Homevestors of Charlotte. We were trying to liquidate a property to settle a trust. Tax value as 150k which I felt was not market value. Based on comps the mkt value was somewhere between 55k and 70k…I rejected his low ball offer. He was looking for distressed property and owners that were in financial straits and he was trying to take advantage.
Source: BBB
HomeVestors Pros and Cons
Here are the pros and cons of HomeVestors.
👍 Pros
- Agent Support: The HomeVestors agent simplifies the home selling process by taking care of home inspection, assessment, documentation, and closing.
- Buy Properties in Any Condition: HomeVestors buys houses as is – so no need to stage, repair termite damage, worry about foreclosure, or fix any home defects.
- No Closing and Service Charges: HomeVestors covers the seller’s closing costs. As a seller, you don’t need to pay for anything.
- Nationwide Coverage: One of the benefits of HomeVestors of America is that it has franchises across the USA, which makes it easily accessible.
👎 Cons
- Lowball Offers: You will likely get an offer of around 50% to 70% of your home’s FMV with HomeVestors. This is standard industry practice with cash buyers.
- Lack of Standard Service: HomeVestors offices are franchises owned by local real estate investors. Therefore, your experience depends on the local investor guiding you.
- Incessant Spamming: HomeVestors franchise reviews state the persistent and unwanted communication from HomeVestors, even after refusing their cash offers.
Homevestors Competitors
» Jump to: HomeVestors vs. Houzeo | Homevestors vs. Grandview Homes | HomeVestors vs. Offerpad
HomeVestors vs. Houzeo
Selling to HomeVestors seems hassle-free. But you may not get 100% of the fair market value of the house.
On the other hand, an MLS listing with Houzeo gives you wide 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 who are ready to purchase a home in cash for a 100% value of your house.
| HomeVestors | Houzeo | |
|---|---|---|
| Sale Price | 50% to 70% of FMV | Up to 100% of FMV |
| Customer Rating | 1.5 stars (37 reviews) | 4.9 stars (6,948 reviews) |
| Closing Timeline | 10 to 30 days | 2 to 60 days |
| Fees | ❌ | $399 |
| Closing Costs | ❌ | ❌ |
| Scope for Negotiation | ❌ | ✅ |
| Repair Costs | ❌ | ✅ |
| Compare Offers | ❌ | ✅ |
| Highest and Best Offers | ❌ | ✅ |
HomeVestors vs. Grandview Homes
Grandview Homes enables you to sell your home as is without any contingencies. Moreover, the company guarantees to close within 10 days.
However, Grandview Homes offers services in only 2-states. Whereas HomeVestors is a national cash home buyer with franchises in 47 states. Hence, home sellers from other parts of the country cannot avail of their services.
HomeVestors vs. Offerpad
Offerpad is an iBuyer and offers a better deal than HomeVestors. They offer around 70% to 80% of your home’s potential value.
However, Offerpad only invests in houses in good condition. So, if you wish to sell a distressed property, Offerpad is not an ideal choice for you.
Best Cash Buyer Companies Near You
There are other “We Buy Houses As Is” companies in the market. You can request offers from several cash companies and choose one that suits you best.
Should You Sell With Homevestors?
HomeVestors helps you offload your property stress-free. They buy your home as is and offer nationwide service. However, they have a few drawbacks associated with them.
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 helps you to grab a better deal. Moreover, you can also attract home buyers who are ready to pay close to 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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FAQs
Is HomeVestors a scam?
No, HomeVestors is not a scam. It is a nationwide network of real estate investors in America who buy houses in any condition for cash. The investors work and operate independently. Check out how HomeVestors works.
Is HomeVestors a reputable company?
HomeVestors are self-proclaimed #1 Home Buyers in America. They are run by a network of real estate investors. HomeVestors is known by their famous trademark, “We Buy Ugly Houses”. Check out HomeVestors reviews.
Is HomeVestors a legit company?
Yes, HomeVestors of America is a legit company. They are a network of real estate investors that buy distressed properties for cash. Being cash buyers, their offers will slightly be lower than the market value of your home. Check out if HomeVestors are legit .
How much does HomeVestors pay for houses?
Like any cash buyer, HomeVestors also offers 50% to 70% of a property's FMV. That means you won't get paid more than 70% of your property's estimated market price. Check out HomeVestors reviews.
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