In the thriving city of Hollywood, Florida, “We Buy Houses for Cash” companies are becoming increasingly popular. These businesses offer all-cash deals, providing a solution for homeowners with properties in need of repairs or updates.
For those in Hollywood dealing with unexpected situations or lacking the time, knowledge, or resources for renovations, a quick cash sale can be a convenient way to move forward.
But is selling to a cash-for-homes company the right choice for you? The answer lies in understanding the process, along with the advantages and potential drawbacks of this option. In this article, we’ll explore both the overall process and the pros and cons of working with these house-buying companies in Hollywood.
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Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of Hollywood, Florida, area “We Buy Houses” companies should not be considered endorsements.
Working with house-buying companies in Hollywood
We Buy Houses companies in Hollywood typically promise to give home sellers quick, convenient all-cash offers, and exceptionally speedy closings, often wrapping up the property sale in as few as seven days. These house-buying companies have polished their processes to help sellers who need to move ASAP, and tend to target distressed homes in need of repairs.
Here’s how the process generally works:
- Contact the company: Find a reputable house-buying company in Orange County and provide them with details of your property.
- Schedule an evaluation: The company will schedule a time to visit your home and assess its condition and value.
- Receive an offer: After the evaluation, the company will present you with a cash offer, typically within 24 to 48 hours.
- Accept the offer: If you agree to the terms, you will accept the cash offer and proceed with the sale.
- Close the deal: The company will handle the necessary paperwork and coordinate the closing process, often within a few weeks.
- Receive your payment: At closing, you will receive the agreed-upon cash amount, and the transaction is complete.
Popular We Buy Houses for Cash companies in Hollywood
We’ve compiled a list of the top companies that will pay cash for your Craftsman bungalow or your parents’ Spanish mission revival. By selling to one of these companies, you should be able to sell your Hollywood home in as little as a week or two.
Sophie Buys Houses
Sophie Buys Houses is a family-owned real estate solutions company, based in Hallandale and a division of Atlantic Coast Deeds. They specialize in helping homeowners facing challenges such as foreclosure, probate, or other burdensome property issues by offering quick, all-cash solutions. The company buys homes directly from owners, without the need for repairs or cleaning, and eliminates the fees and uncertainties associated with traditional home sales.
Founded by Sophia Grigio, who discovered her passion for real estate at 23, the company aims to provide win-win solutions for homeowners. Sophia focuses on helping people through innovative programs like lease-to-own for those who may not qualify for traditional financing. With a focus on fast, hassle-free transactions, Sophie Buys Houses strives to help clients move forward with their lives.
Locations: Nationwide, including Hollywood, Florida
Closing costs: Sophie Buys Houses often covers closing costs.
Sophie Buys Houses holds a 4.8-star Google rating, and reviewers consistently praised Sophia for her professionalism, responsiveness, and personable nature. They highlighted how easy she was to work with, noting that she answered questions promptly and made the process of selling property smooth and stress-free. Several mentioned her fairness in property offers and her willingness to go above and beyond to assist clients. Many highly recommended her services, with some calling her a problem-solver and a knowledgeable real estate expert. Overall, Sophia was described as caring, trustworthy, and a great communicator, making her a go-to for those looking to sell their homes. This family-owned company is accredited with the BBB and holds an A rating.
Website: sophiebuyshouses.com
Phone number: 954-613-0999
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Hollywood and across the country can request a cash offer for their home. Simple Sale connects you to the largest network of cash buyers in the US, and partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. This enables Simple Sale to provide cash offers for a wide array of properties, even those that need some or a lot of work, in locations throughout Hollywood.
With Simple Sale, you can get a no-obligation, all-cash offer in 24 hours, and sell your home in as few as 10 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including Hollywood, Florida
Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a HomeLight platform. HomeLight was founded in 2012 and is BBB-accredited with an A rating. The company has 4.8 stars on Google based on hundreds of user reviews. Below you can hear about how Baohan Wu, a seller who used Simple Sale to sell his high-rise apartment, closed within three and a half weeks and what he thought of the process overall.
Learn more: homelight.com/simple
Phone: 844-488-8455
Florida Homeowner Solutions
Florida Homeowner Solutions (FHS) helps homeowners facing challenging situations such as foreclosure, divorce, debt, relocation, or the loss of a loved one. With more than 20 years of experience, including recognition from the Mayors of Broward and Miami-Dade counties for helping homeowners out of foreclosure, the company offers free consultations to assess your needs and provide tailored solutions. Whether you need to keep your home or sell it quickly, FHS ensures you won’t have to make repairs, pay commissions, or cover additional fees. The process is simple: Contact them for a consultation, explore your options, and they’ll assist you in selling your home fast or finding a way to retain it. Their goal is to provide relief while keeping your best interests at heart.
Locations: Throughout Florida, including Hollywood
Closing costs: Sellers pay no closing costs; Florida Homeowner Solutions covers them.
Florida Homeowner Solutions has a 4.8-star Google rating and receives high praise for its professional, transparent, and supportive approach. Clients appreciate the company’s dedication to making the home-selling process smooth and stress-free. Many highlight the team’s honesty, patience, and attention to detail, particularly during challenging transactions. Customers note that the company goes above and beyond, offering guidance throughout the process and ensuring clear communication at every step. The company is often recommended for its genuine care, reliability, and exceptional service, with several clients sharing their gratitude for the team’s help in both buying and selling homes. Since 2022, Florida Homeowner Solutions has maintained BBB accreditation and has earned an A+ rating.
Website: floridahomeownersolutions.com
Phone: 800-300-4663
The Friendly Home Buyer
The Friendly Home Buyer specializes in providing a fast, stress-free home-selling experience. They buy houses as-is, with no need for repairs, cleaning, or updates. After an initial conversation and property evaluation, they present a fair, no-obligation cash offer. Once the offer is accepted, they can close the sale in as little as a week, depending on the seller’s preferred timeline. With no fees or commissions, they aim to make the process as straightforward as possible, ensuring homeowners get cash quickly and without hassle. Their commitment to integrity, transparency, and customer satisfaction sets them apart in the industry.
Locations: Across Florida, including Hollywood
Closing costs: Sellers pay no closing costs; The Friendly Home Buyer covers them.
The Friendly Home Buyer has a 4.9-star rating on Google, and customers appreciate the company for its professionalism, responsiveness, and personal touch, often highlighting how seamless and quick the home-selling process was. The team is noted for its clear communication, empathy, and dedication to ensuring clients feel prioritized and informed every step of the way. Many reviewers appreciated how stress-free the experience was, with representatives being patient, knowledgeable, and transparent. Overall, the company is regarded as trustworthy and efficient, making it a reliable choice for those looking to sell their homes quickly and easily. The Friendly Home Buyer is BBB accredited with an A+ rating.
Website: thefriendlyhomebuyer.com
Phone: 888-713-9158
3 Step Home Buyer
3 Step Home Buyer is a family-owned business that has been a leader in Florida’s real estate market for more than seven years, specializing in helping homeowners sell their properties quickly across the state. With a focus on simplifying the home-selling process, they close deals in as little as seven days. The company prides itself on fairness, ensuring that every transaction benefits all parties involved, especially homeowners facing distressed property situations. Their three-step process allows clients to sell their homes as-is for cash, eliminating the need for third-party agents or costly marketing. The company is committed to providing fast, reliable, and stress-free solutions, allowing homeowners to move on with their lives with peace of mind.
Locations: Throughout Florida, including Hollywood
Closing costs: Sellers pay no closing costs; 3 Step Home Buyer covers them.
3 Step Home Buyer has received a 4.8-star rating on Google, and reviews highlight a positive and efficient home-selling experience with 3 Step Home Buyer. Many clients appreciated the quick and smooth process, with several noting that they received the cash offers they were expecting or better. The team was consistently praised for their professionalism, helpfulness, and transparency throughout the process. Homeowners also expressed gratitude for the company’s ability to handle the sale without requiring repairs, cleaning, or complicated steps. Overall, the reviews reflect a high level of satisfaction, with many recommending the service to others. The company is not listed on the BBB website.
Website: 3stephomebuyer.com
Phone: 954-945-7222
Why sell your Hollywood house for cash?
There are plenty of valid reasons a Hollywood home seller may choose to work with a cash-for-homes company. Leading the list are the benefits of speed, certainty, and remarkable convenience.
In Hollywood, it typically takes about 112 days to sell a home on the market using an agent. That includes an average of 68 days on the market, plus the typical 44 days a buyer needs to close on a purchase loan.
Compare that to the typical seven to 10 days promised by many house-buying companies in Hollywood and it’s clear why these cash-for-homes groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
Here are some of the most common reasons homeowners choose to sell their homes for cash:
- Job relocation: You need to move quickly for a new job and can’t wait for a traditional home sale.
- Divorce: You want to quickly divide assets and move on with your life.
- Inherited property: You’ve inherited a house and prefer a quick sale to dealing with maintenance or renting.
- Downsizing: You’re looking to move into a smaller home or retirement community without the hassle of prepping and showing your current home.
- Repairs needed: Your home requires significant repairs that you can’t afford or don’t want to manage.
- Avoiding open houses: You prefer to avoid the stress and inconvenience of multiple showings and open houses.
- Foundation issues: Your home has structural problems, making it less attractive to traditional buyers.
- Foreclosure: You’re facing foreclosure and need to sell quickly to settle your debts.
- Problem tenants: You’re a landlord tired of managing tenants and want a quick sale of your rental property.
- Selling from out of state: You own a property in Hollywood but live elsewhere and want the ease of a fast, remote sale.
If you are a homeowner facing any of these circumstances, requesting a cash offer from a We Buy Houses company might be a good option to consider. However, it’s important to think of this as a starting point in your search for solutions. You won’t know if it’s your best move until you know more about other options available to you, which we’ll help you review in a minute.
Pros and cons of house-buying companies in Hollywood
Here’s a quick look at the key pros and cons to help guide your decision.
Pros
The allure of house-buying companies lies in their promise of speed and hassle-free transactions. They’ll purchase homes in any condition, sparing you the stress and expense of repairs or upgrades.
- Speedy sales: You often can finalize sales in days or weeks, rather than the months it can take with traditional methods.
- No need for repairs: Houses are purchased as-is, so you don’t have to invest in costly repairs or renovations.
- Simple process: Say goodbye to showings, negotiations, and complicated paperwork. The transaction is straightforward and streamlined.
- Certainty: A guaranteed buyer is waiting, eliminating the uncertainty that can come with traditional listings.
Cons
While the process may be smooth, there is a potential downside: The offer you receive often is below market value, meaning you may miss out on a higher sale price that could be achieved through a traditional sale with an experienced real estate agent.
- Lower offers: These companies aim for a profit margin, which means your offer will be below market value.
- Less negotiation power: Unlike traditional sales where you can counter offers, here, it’s a take-it-or-leave-it deal.
- Potential for scams: Without due diligence, there’s a risk of falling prey to unscrupulous companies looking for a quick buck.
- Chance for pressure tactics: There is a chance of getting involved with an outfit that applies pressure tactics to take advantage of your urgent situation. It’s important to vet any company you plan on doing business with.
Curious What Your Home Is Worth?
Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.
Vet cash buyers and know your home’s worth
It’s crucial to remember that your experience will hinge significantly on the integrity and approach of the particular buyer behind the offer. Not all cash buyers are created equal, and while many operate with honesty and transparency, there are outliers you’ll want to avoid.
Before committing to any cash offer, take the time to vet the company meticulously. Dive into reviews, peruse testimonials, and gauge their market presence and track record.
HomeLight suggests you consult with an experienced Hollywood agent to get a better idea of what your home might be worth if sold on the open market. Then compare your cash offer. HomeLight can connect you with a top-performing agent in your market.
You also can use HomeLight’s Home Value Estimator to get an initial estimate in less than two minutes.
Other options to sell your Hollywood home fast
iBuyers
iBuyers, or instant buyers, use automated valuation models (AVMs) to offer near-instant home value estimates. They provide a mostly online experience, offering all-cash deals typically closer to market value for homes in good condition. The iBuyer process from offer to closing is quick, usually within a few days to two weeks. However, companies like Opendoor and Offerpad charge service fees of 5% to 6%.
Listing with an agent
Listing with a top real estate agent can also result in a fast sale, especially in a seller-friendly market. An agent can provide a comparative market analysis (CMA), which helps determine an appropriate listing price and estimate the time to sell. Many agents offer CMAs, often free.
Partnering with a proven agent can yield the highest selling price and they may even connect you with buyers offering cash closer to market value. If you are interested in exploring the agent option, HomeLight can connect you with a top-performing real estate agent in your area today.
FAQs on Hollywood house-buying companies
Most We Buy Houses for Cash companies in Hollywood, FL are legitimate businesses. Their services and transaction fees may differ, but the business model has been around for decades. If you use an established group with a track record, you can be fairly confident it’s legitimate.
That said, as with any financial transaction, it’s a good idea to be on the alert for scams. Always research companies before you sign a contract. Check customer reviews, look at their online presence, verify professional licenses, get a referral if possible, and vet the company on the Better Business Bureau website. Watch for anything that just doesn’t seem right.
Most Hollywood We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value (ARV), minus their estimated repair costs.
Here’s an example of what a simplified formula might look like:
(Your home’s ARV x .70) – repair costs
To see how this might work in a real-world scenario, let’s take a look at an example offer equation. Let’s say your home could sell for $555,000 after repairs, but it’s going to need $50,000 of work to get there.
($555,000 x .70) – $50,000 = $338,500
In this example, a Hollywood We Buy Houses company might offer you about $338,500 for your home.
However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more than We Buy Houses companies because iBuyers look for homes in better condition. An iBuyer might pay you 90% or more of market value while charging a fee for their services.
Accepting an offer from a Hollywood We Buy Houses for Cash company can feel like a double-edged sword. On one hand, it typically won’t cost you extra, as these companies handle most of the process once the offer is accepted. On the other hand, you may end up with a lower overall payout for your home.
Because We Buy Houses for Cash companies tend to focus on distressed homes, they typically have zero fees. Many will even cover your closing costs. In most cases, this means that the cash offer you receive is going to be the price you walk away with at the end of the deal. Of course, it’s always a good idea to ask the company if there are any hidden program fees that might affect your bottom line.
- Research and vet the house-buying companies that serve your Hollywood area. Our list above is a good place to start.
- Submit offer requests to a few of the companies you like best.
- Schedule any required on-site property visits.
- Compare offers. Consider the pros and cons and choose the best option for you.
- Close the sale in a week to 30 days and get paid. Some companies will let you choose a closing date up to 90 days after accepting the offer, which can be helpful when planning a move.
We Buy Houses for Cash in Hollywood vs. a top Hollywood agent
Another helpful exercise is to compare how a We Buy Houses for Cash company might stack up against working with a real estate agent. Let’s take a look at how different aspects of the sale might unfold and compare the potential proceeds.
| Aspect of the sale | Sell to a We Buy Houses for Cash company in Hollywood, FL | Sell with a top Realtor® in Hollywood |
| Selling timeline | 7 to 30 days | 112 days average; 68 to attract an offer, 44 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary repairs, landscape, stage home |
| Showings | None | 10 to 25 showings average |
| Inspections / repairs | None | May need to make additional repairs for the buyer or renegotiate the price |
| Appraisal | None | May need to lower your asking price if the appraisal comes in low |
| Title search | cash-for-homes companies often handle title issues | Must clear title before you can sell home |
| Financing contingency | None | Mortgaged buyers use a financing contingency that could hold up the deal if the buyer’s loan doesn’t clear |
| Agent commission | None | 3% to 5.8% average |
| Closing costs | None | 1% to 3% of the home sale price on top of agent commission |
Example net proceeds
Below, we’ve put together one example of how net proceeds may differ between selling a home to a We Buy Houses for Cash company and an agent-assisted sale.
Let’s say your home in Hollywood is currently worth about $550,000 and needs about $40,000 in repairs. Once the repairs are completed, the home might be worth about $590,000.
| Sell to a We Buy Houses for Cash company in Hollywood, FL | Sell with a top Realtor in Hollywood, FL | |
| Estimated sale price | ($590,000 x .70) – $40,000 = $373,000 | $550,000 |
| Market preparations | 0 | $5,500 (1% of sale price) |
| Agent commissions | 0 | $16,500 (3% of sale price) |
| Closing costs | 0 | $8,250 (1.5%) |
| Estimated take-home for seller | $373,000 | $519,750 |
As this example illustrates, financially, it’s usually in your best interest to partner with an experienced real estate agent.
However, net proceeds are not the only consideration when selling a home. What’s best in your situation will depend on the condition of your property, what level of repairs are needed, and your selling objectives. It could be that selling on the open market will be a challenge in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Speed and convenience: cash-for-homes companies offer a fast and straightforward selling process, bypassing the typical waiting period.
- No repairs needed: These buyers take your home as-is, eliminating the need for costly or time-consuming repairs.
- Lower offers: While quick, expect offers below market value, especially when compared to traditional sales with top agents.
- Diverse market solutions: Other options like iBuyers or working with a top agent can offer different benefits, including higher sales prices and market insights.
- Vet and research: Always thoroughly vet your cash buyer and understand your home’s value to ensure a fair deal.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
If you’re contemplating selling to a cash-for-homes company, it’s best to gather multiple offers and carefully assess your choices before diving in.
At HomeLight, we’re happy to lend a guiding hand in navigating your real estate journey. Let us help you make an informed and confident decision, whether you’re looking for a no-obligation cash offer through a trusted platform like Simple Sale or seeking to consult with a top Hollywood agent.
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