How Much Does We Buy Ugly Houses Pay?
We Buy Ugly Houses is a franchise of cash home buyers who claim to buy any house, no matter how ugly or distressed it is. But how much do they actually pay for these houses? And is it worth selling your home to them?
In this article, we’ll explore the pros and cons of selling your home to We Buy Ugly Houses, how they determine their offers, and what alternatives you have if you want to get more money for your home.
Pros and Cons of Selling to We Buy Ugly Houses
We Buy Ugly Houses can be a viable option for some sellers who are in a difficult situation and need to sell their house fast. However, there are also some drawbacks to consider before you sign a contract with them.
|– You can sell your house as-is, without making any repairs or improvements.||– You’ll get significantly less than your home’s market value.|
|– You can get a cash offer within 24-48 hours and close in as little as 3 weeks.||– You’ll have limited ability to negotiate the price or terms of the sale.|
|– You can avoid the hassle and cost of listing your home with a realtor, staging it, showing it, and paying commissions.||– You’ll lose out on the opportunity to expose your home to more potential buyers and generate multiple offers.|
|– You can choose your closing date and move out when you’re ready.||– You’ll have to deal with a franchisee who may not be trustworthy or experienced.|
How Does We Buy Ugly Houses Determine Their Offers?
We Buy Ugly Houses does not have a fixed formula for calculating their offers. Instead, they base their offers on several factors, such as:
- The location and condition of your home
- The after repair value (ARV) of your home, which is what it would be worth after being renovated
- The cost of repairs and improvements needed to make your home marketable
- The current market demand and supply for homes in your area
- The profit margin they want to make from reselling or renting your home
According to one source, We Buy Ugly Houses franchisees aim to pay only 55-65% of a home’s after repair value. That means if your home is worth $200,000 after being fixed up, you can expect an offer between $110,000 and $130,000. That’s a significant discount from what you could get on the open market with a realtor.
What Are Some Alternatives to We Buy Ugly Houses?
If you’re not satisfied with the offer from We Buy Ugly Houses, or if you’re not in a hurry to sell your home, you have some alternatives that could help you get more money for your home.
- Sell with a discount realtor. A discount realtor can help you sell your home for a lower commission than a traditional realtor. For example, Clever Real Estate can connect you with a top local agent who will list your home for just 1% or $3,000 (whichever is higher). You’ll still get full service and exposure for your home, but you’ll save thousands on commissions.
- Sell to another cash buyer. We Buy Ugly Houses is not the only cash buyer in town. There are many other companies and individuals who buy homes for cash. You can compare offers from multiple cash buyers and choose the best one for your situation. Clever Offers can help you get cash offers from top local buyers quickly and easily.
- Sell by owner. If you’re confident in your ability to market and negotiate the sale of your home, you can try selling by owner (FSBO). This way, you’ll avoid paying any commissions to a realtor. However, you’ll also have to handle all the paperwork, legal issues, and potential risks involved in selling a home by yourself.
We Buy Ugly Houses is a legitimate company