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 California 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. But, don’t worry—just enter a cash buyer marketplace. Here you can receive offers that can reach up to 100% of your home’s value!
Reviews: 5 Best Cash Home Buyers in California
1. Houzeo: California’s #1 Cash Home Buyer Marketplace
100% ONLINE
Listing Fee: $199Houzeo is a high-tech platform that streamlines listings, updates, and online showings/offers. Choose from 3 Flat Fee MLS packages to simplify your home sale.
- Silver Package – $199: You can upload 24 photos, and your listing term will be 6 months. You can also make unlimited changes to your listing.
- Gold Package – $249: You can post the maximum number of photos, avail licensed broker assistance, get access to seller disclosures, and a premium yard sign.
- Platinum Package – $299: You get virtual full assistance from a licensed broker and a 12-month listing term.
Houzeo is America’s #1 Flat Fee MLS service because of these reasons:
- Max Exposure: Your home listing is syndicated to popular real estate websites like Zillow, Trulia, Realtor.com, etc., increasing its visibility.
- 100% Online: You can list your home, manage offers, and close deals, all at your fingertips with a powerful mobile app.
- 5-star Customer Service: You have access to listing support and chat services 6 days a week.
- No Hidden Fees: What you see is what you pay. Houzeo mentions all of its fees upfront on its website.
There are no dealbreakers with Houzeo.
» Is Houzeo Legit? Houzeo addresses home seller’s concerns with efficiency.
Houzeo is rated an impressive 4.9 out of 5 stars by thousands of home sellers on Google and Trustpilot.
» Houzeo Reviews: Rated “Excellent” by 10,000+ happy home sellers.
With Houzeo, you can connect with California’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 Medina Buys Houses has over 20 years of real estate experience. In the last two years, they expanded statewide in California. They promise quick closings and instant cash deals, but some past clients reported deals falling through without explanation.
3. Opendoor
BIGGEST IBUYER
Service Fee: 5%Opendoor is the country’s biggest iBuyer. 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.
- Service Fee: You will be charged 5% of the home sale price.
- 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, inherited properties, or homes with tenants do not qualify for Opendoor’s cash offer.
- Closing Offer Terms: Opendoor lets you close at your pace, up to 45 days after their offer. The final offer may change after the home inspection.
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: You can cancel the contract without any cancelation fee.
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.
Opendoor is a good option if your home needs minimal repairs. You can get a maximum of 80% of your property’s fair market value. However, this means leaving thousands of dollars on the table. Their service fee is also a steep 5% of your home’s sale price.
4. Express Homebuyers
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?
👉 Our Take: Express Homebuyers can be a great option to sell an extremely distressed property. However, if your house needs minimal or no repairs, then you should consider listing on the MLS.
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-verified network of investors. These investors join based on experience and expertise. You can expect multiple cash offers, but your service experience depends on the investor you choose.
Top “We Buy Houses for Cash in California” Companies Near You
| 1. San Diego | Cash Home Buyers in San Diego, CA |
| 2. San Francisco | Cash Home Buyers in San Francisco, CA |
| 3. Sacramento | Cash Home Buyers in Sacramento, CA |
| 4. Los Angeles | Cash Home Buyers in Los Angeles, CA |
| 5. Fresno | Cash Home Buyers in Fresno, CA |
| 6. Orange County | Cash Home Buyers in Orange County, CA |
| 7. Bakersfield | Cash Home Buyers in Bakersfield, CA |
| 8. Lemon Grove | Cash Home Buyers in Lemon Grove, CA |
Are Companies That Buy Houses for Cash in California 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 Golden State. However, be sure to read company reviews and seller testimonials to find a legitimate cash buyer.
3 Types of Companies That Buy Homes in California
- We Buy Houses for Cash Companies: Cash buyers like HomeVestors 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. The home trade-in service companies often use advanced technology to quickly evaluate the market and other details.
4 Steps to Sell Your Home for Cash in California
Not sure how to sell your home for cash in California? 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 California Pay?
California cash house buyers usually offer between 30% to 70% of a home’s Fair Market Value. However, it also depends on factors like the company you’re selling to, their service fees, etc.
Imagine if you were selling your $785,600 home in California. With a traditional cash home buyer, you could get just $549,920. 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 | Actual Offer |
| Cash Buyer | None | $549,920 |
| iBuyer | 5% | $628,480 |
| Houzeo | $199* | $785,401 |
» Houzeo Reviews: Find out why Houzeo is California’s best cash buyer marketplace.
Pros and Cons of Cash Home Buyers in California
Cash buyers offer speed and convenience. However, you must consider these pros and cons 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 California 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: California 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: Most 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 lose 6.25% to 9% of your savings!
Common “We Buy Houses for Cash” Scams 🚩
Beware! Scammers can use enticing offers to trick you into losing money or property. Make sure that you verify every offer to avoid falling victim to these 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 convincing fake documents. To prevent this, always consult trusted cash home buyers and work with professionals.
- Loan-Flipping Scams: Some scammers may pressure you to sell your home fast for cash by refinancing repeatedly. They manipulate you into financial distress by offering loans that drain your equity. Always consult a trusted advisor before agreeing to any cash for homes.
- 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 this scam.
Alternatives to Companies That Buy Houses for Cash in CA
- 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: You get services like contract review and negotiation for a lower fee than traditional agents. Discount brokers in California charge between 0.5% to 2.5% as commission.
Should You Sell to Cash Home Buyers in California?
Yes, you can. But be prepared to say goodbye to 30% to 70% of your home’s equity. That’s the price you’ll have to pay for a quick sale. On the other hand, on a cash buyer marketplace, you can get multiple offers, sell fast, and potentially save more money.
