Selling your home quickly in Palm Springs, CA, can be challenging, especially if it needs repairs or updates. That’s where We Buy Houses companies come in, offering all-cash deals for homes in as-is condition. If you’re short on time, resources, or expertise, this option could be a great way to move past a burdensome property or situation.
By accepting a cash offer, you can avoid the hassle of making repairs or renovations. This allows you to close the sale faster, often within a matter of days, and get the money you need to take the next step.
In this post, we’ll explore the pros and cons of selling your Palm Springs house for cash. You’ll better understand how these companies operate and whether they’re the right solution for your situation.
Sell Your House Fast in Palm Springs With a Cash Offer
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Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Palm Springs area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Palm Springs
When selling your Palm Springs home to a house-buying company, the process is designed to be fast and straightforward. If you want to avoid repairs and sell quickly, here’s a step-by-step overview of what you can expect when working with these cash-for-homes companies.
- Contact the company: Reach out to the house-buying company and provide basic details about your property.
- Schedule a home visit: The company will schedule a visit to assess your home’s condition, usually at no cost.
- Receive an offer: After evaluating your property, the company will present a cash offer, often within 24-48 hours.
- Review the offer: Take some time to review the offer and decide if it works for your situation.
- Accept the offer: If the offer meets your needs, you can accept it and move forward.
- Close the sale: The closing process typically happens in as little as 7-14 days, allowing you to get your cash quickly.
Popular We Buy Houses for Cash companies in Palm Springs
If the process of selling to a house-buying company in Palm Springs sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some of the top companies that will pay cash for your or your parents’ Spanish revival or ranch-style home. By selling to one of these companies, you should be able to sell your Palm Springs home in as little as a week or two.
The Zen Experience Property Co.
The Zen Experience Property Co. specializes in providing fast and hassle-free solutions for homeowners looking to sell their properties quickly. The company focuses on buying homes for cash, making it an ideal option for those who need to close quickly or want to avoid the traditional real estate market.
Locations: Palm Springs, Coachella Valley, and surrounding areas.
Closing costs: Sellers pay no closing costs. The Zen Experience Property Co. covers them.
The Zen Experience Property Co. holds a 4.6-star rating on Google.
Website: zenpco.com
Phone number: 760-202-5909
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Palm Springs (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 U.S. 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 different locations throughout Palm Springs.
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 Palm Springs
Closing costs: No prep costs, agent commissions, or 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
Coachella Valley HomeBuyers
Coachella Valley HomeBuyers is a local company dedicated to helping homeowners sell their properties quickly and efficiently. They offer cash deals and aim to create a smooth, stress-free experience for sellers, regardless of the property’s condition.
Locations: Palm Springs and surrounding areas in the Coachella Valley.
Closing costs: Sellers pay no closing costs. Coachella Valley HomeBuyers covers them.
Coachella Valley HomeBuyers holds a 4.5-star rating on Google.
Website: coachellavalleyhomebuyers.com
Phone number: 760-849-8115
Osborne Homes
Osborne Homes was founded by Mike Osborne in 2007. Since 2007, Osborne Homes has purchased, rehabbed, and sold over 2,000 properties with a primary mission to help distressed property owners find win-win solutions.
Locations: Fresno and other communities in the Central Valley and Orange County
Closing costs: Sellers pay no closing costs; Osborne Homes covers them.
Osborne Homes holds a Google rating of 3.5.
Website: osbornehomes.com
Phone number: 559-500-3610
Casey Buys Houses
Casey Buys Houses is based in Diamond Bar and buys houses in as-is condition all over Southern California. After visiting the property to assess its condition, Casey Buys Houses will present you with a competitive cash offer. Closing can occur on your timeline or in as few as seven days.
Locations: Throughout Southern California, including Palm Springs.
Closing costs: Sellers pay no closing costs; Casey Buys Houses covers them.
Casey Buys Houses does not appear to be BBB-accredited; however, they hold a 5-star rating on Google.
Website: caseybuyshouses.com
Phone number: 909-455-9496
Why sell your Palm Springs house for cash?
Why would a Palm Springs homeowner sell their home for cash? If you need to sell quickly, selling for cash is significantly faster than the traditional market.
In Palm Springs, it typically takes around 111 days to sell a home on the market using an agent. That includes an average of 68 days on the market plus the typical 43 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 Palm Springs, 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 common scenarios where choosing a cash-for-homes company could be a good fit.
- Job relocation: If you’re relocating for work and need to sell quickly, a cash offer can help you move forward without delay.
- Divorce: Selling your home during a divorce can expedite the process and provide a faster resolution.
- Inherited: If you’ve inherited a house and want to sell it, a cash offer can streamline the sale.
- Downsizing: If you’re looking to downsize, a cash sale offers a hassle-free solution to move into a smaller home.
- Repairs: When your home needs repairs that you don’t have the time or money for, selling for cash can relieve that burden.
- Open houses: Avoid the hassle of multiple showings and open houses by accepting a cash offer.
- Foundation issues: If your home has foundation problems, a cash buyer will purchase it as-is.
- Foreclosure: A cash sale can help you avoid foreclosure and provide you with fast funds.
- Tenants: Selling a rental property with tenants in place can be easier with a cash buyer.
- Selling from out of state: A cash sale allows you to sell your home remotely without needing to be in town.
Pros and cons of house-buying companies in Palm Springs
Selling to a house-buying company in Palm Springs comes with clear benefits and trade-offs. These companies offer speed and convenience, buying your home as-is and sparing you the need for repairs. Below is a quick breakdown of the pros and cons to help you decide.
Pros of house-buying companies in Palm Springs
The biggest advantage of working with a house-buying company is speed and simplicity. They buy homes in any condition and you can skip the repairs and staging. Here’s a summary of the key benefits:
- Fast closings: Many companies can close in as little as 7-14 days, allowing you to get cash quickly.
- Buy homes as-is: There’s no need to make any repairs or preparations, as these companies buy properties in their current condition.
- No contingencies: Cash buyers often skip contingencies, leading to fewer delays and a more straightforward sale.
- No showings: You won’t have to worry about hosting open houses or keeping your home spotless for buyer visits.
Cons of house-buying companies in Palm Springs
The biggest drawback is that you’ll likely receive a below market value offer. Cash buyers prioritize a quick turnaround and profit margin, which means less money in your pocket. Here’s a summary of the key drawbacks:
- Lower offers: Cash-for-homes companies usually pay much less than you’d get by selling with an agent.
- Potential for scams: Some companies operate unethically, so you need to watch out for scams.
- Limited flexibility: Most companies offer a “take-it-or-leave-it” offer with little room for negotiation.
- Missed market opportunities: Selling on the open market with an agent could yield higher offers from competitive buyers.
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
When working with a house-buying company in Palm Springs, it’s crucial to ensure the company is trustworthy and reputable. Here are key steps to vet cash buyers and know your home’s worth:
- Research the company: Investigate the buyer’s reviews, read testimonials, and check their track record in the Palm Springs market.
- Ask for references: Reach out to past sellers who’ve worked with the company to learn about their experiences.
- Review the buying agreement: Make sure to read the agreement carefully, understanding all terms before signing.
- Get multiple offers: Compare offers from different companies to ensure you’re receiving a fair deal.
- Know your home’s value: Conduct research or get an appraisal to understand what your home is worth in the current market.
HomeLight suggests you consult with an experienced local 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 can also use HomeLight’s Home Value Estimator to get an initial ballpark estimate in less than two minutes.
Other options to sell your Palm Springs home quickly
iBuyers
iBuyers use automated valuation models (AVMs) to make quick, mostly online, all-cash offers, usually closer to market value. They specialize in homes in good condition, with a fast closing process ranging from a few days to two weeks. However, companies like Opendoor and Offerpad often charge service fees of 5%-6%, which can affect your overall proceeds. Learn more about the iBuyer process.
Listing with an agent
Although listing with an agent typically takes longer, it can still result in a quick sale in a competitive market. Partnering with a top agent can help you price and market the home strategically, potentially yielding a higher price. Agents offer a comparative market analysis (CMA), often free, to estimate your home’s value. Some agents can even connect you with cash buyers. If you’re considering the agent route, HomeLight can connect you with top agents in your area.
FAQs on Palm Springs house-buying companies
By and large, most We Buy Houses for Cash companies in Palm Springs 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 that it’s legit.
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.
As described in our pros and cons list above, most Palm Springs We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value 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 Palm Springs spanish revival could sell for $617,500 after repairs, but it will need $30,000 of work to get there.
($617,500 x .70) – $30,000 = $402,250
In this example, a Palm Springs We Buy Houses company might offer you around $402,250 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.
When you accept an offer from a Palm Springs We Buy Houses for Cash company, you will likely be coming to grips with a double-edged sword. On the one side, it shouldn’t cost you any additional money because these companies make an offer and handle almost everything once it is accepted. Conversely, you’ll likely get less money overall 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 will be the price you walk away with at the end of the deal. Of course, asking the company if any hidden program fees might impact your bottom line is always a good idea.
- Research and vet the house-buying companies that serve your Palm Springs 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. Weigh 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 Palm Springs vs. top Palm Springs 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 glance at how different aspects of the sale might look and compare possible proceeds.
| Aspect of the sale | Sell to a We Buy Houses for Cash company in Palm Springs | Sell with a top Realtor in Palm Springs |
| Selling timeline | 7 to 30 days | 111 days average; 68 to attract an offer, 43 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 the 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%-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 compiled 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 Palm Springs is worth about $617,500 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $642,500.
| Sell to a We Buy Houses for Cash company in Palm Springs | Sell with a top Realtor in Palm Springs | |
| Estimated sale price | ($642,500 x .70) – $25,000 = $424,750 | $617,500 |
| Market preparations | 0 | $6,175 (1% of sale price) |
| Agent commissions | 0 | $18,525 (3% of sale price) |
| Closing costs | 0 | $9,262 (1.5%) |
| Estimated take-home for seller | $424,750 | $583,538 |
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
- Fast closings: Cash-for-homes companies in Palm Springs can close in as little as 7-14 days, making them ideal for urgent situations.
- Buy homes as-is: You can sell your home in any condition without worrying about repairs or updates.
- Lower offers: Most cash offers are below market value, which means you may walk away with less money than selling traditionally.
- No contingencies: With no financing or inspection contingencies, the sale process is much simpler and faster.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
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 Palm Springs agent.
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