Are you thinking about selling your house fast to a house flipping company? “We Buy Ugly Houses” makes reduced, all-cash offers on distressed homes. We Buy Ugly Houses often makes an offer immediately after seeing the property. If the offer is accepted, they can close the sale in a short span of three weeks. They can close quickly, but the company doesn’t pay as much as you would expect with the home’s fair market value. If you do not want to spend your time and money on renovating and repairing your home and just want to get sell it off and move on, then We Buy Ugly Houses can be a solution. However, they do have some disadvantages too. Let’s look at some of the We Buy Ugly Houses reviews, pros, cons, and alternatives.
What is an “Ugly” House?
The company gives a rough definition for “ugly houses”. It includes conditions such as:
- Structural issues
- Houses with high-interest rates or unwanted financing
- High-crime zones
- Inherited houses
- Flood plain or weather prone regions
- Divorced homeowners
- Houses that are really big or really small for the homeowner
We Buy Ugly Houses Reviews
According to We Buy Ugly Houses reviews, the company representatives will come to examine your property to assess the condition and repair costs. After that, they will propose an offer. You can either accept or refuse this offer. They usually close the deal within 30 days or faster.
As per Houzeo reviews of We Buy Ugly Houses, We Buy Ugly Houses reviews from customers make two narratives. Sellers who want a profitable transaction often have complaints. However, sellers who just want to get rid of their property without much hassle are quite pleased with their experience. We Buy Ugly Houses has a 2.5 out of 5 rating. The company has a mixed bag of both positive and negative customer reviews.
Pros of Selling to We Buy Ugly Houses
- Cash offer.
The company offers deals in cash. One of the difficult parts of selling your property is that you will have to wait for the buyer to sort out their mortgage issues. But here, unlike a traditional sale, We Buy Ugly Houses offers ready cash so that the deal can close within a few days.
- Quick sale.
In a traditional sale, the average time to close a deal could range between 45 and 60 days, from the time you receive an offer. But, cash home buyers such as We Buy Ugly Houses can close the deal within a few days and relieve you from this unpleasant waiting period. You can close a deal in a week or two when using a company like We Buy Ugly Houses.
- No real estate commissions.
If you are dealing with companies like We Buy Ugly Houses, there is no need to pay a real estate commission. Realtor commissions could average 5-6% of the sale price of your home. So, to be able to get rid of realtor commission entirely is a great advantage.
- Hassle-free process.
Selling a home without doing any repairs and renovation can be challenging, especially if you want to get the best possible price. With We Buy Ugly Houses, you can avoid the hassle of finding a suitable buyer. By using this company, you can quickly sell the home and move on.
- Repairs are not required.
Companies like We Buy Ugly Houses thrive on purchasing houses that need repairs and renovation. It doesn’t matter that your home is not in decent condition. In fact, they search for distressed properties.
Cons of selling to We Buy Ugly Houses
- The quality may vary
The company has a separate franchise for each locality. So, the quality of their service varies depending on the franchise you choose.
We Buy Ugly Houses is not available in every locality. Also, their services may not be accessible for some types of homes.
- Reduced selling price
The company pays much less for your house if you compare the price with the open market value.
- Controversial tactics
According to some, We Buy Ugly Houses reviews from customers, home sellers might feel pressured to accept extremely low offers without weighing their options carefully. There are many customer reviews about individual franchisees using unethical strategies to close the deal at an extremely low price.
Alternatives to We Buy Ugly Houses
Going the For Sale By Owner (FSBO) way will help you save on realtor commissions. But you will have to handle all parts of the home selling process. This might be too much effort and time for you. With a flat-fee MLS company, you can list your home on the MLS and remove the 3% listing agent commission.
- Sell with a Realtor
You can sell the traditional way by choosing a good realtor. You will have to pay a 3% brokerage fee. In this way, you will lose on the savings generated, when going FSBO or using a flat-fee MLS.
- Sell to an iBuyer
iBuyers are companies that buy distressed properties just like We Buy Ugly Houses and pay a lower price for your home. Their offers are often rational compared to the repairs needed on the property.
We Buy Ugly Houses helps you to sell your property fast and receive the payment in cash. However, if you are ready to refurbish your property a bit, you can avail a much better deal from the real estate open market. So, you need to decide between selling the house for a lower price and doing the repairs for your home before selling. In the end, selling your “ugly, distressed” home can be a difficult decision. So, read all the Houzeo reviews and other We Buy Ugly Houses reviews, choose wisely, and be ready to sell your home.