‘We buy houses’ companies in Charlotte, NC
Eager to sell your Charlotte-area home? You might want to consider one of the many companies that buy Queen City houses for cash. These “we buy houses” enterprises make it quick and easy to unload a home, without the need to go through the lengthy process of a traditional home sale.
If you are in a rush to relocate for work, are overwhelmed by the cost of needed repairs, inherited a property you don’t want or simply need the money ASAP, a cash-homebuying company could be a good option for you. However, the flipside is that when you sell to one of these companies, you are likely to make less money than if you were to sell via traditional means.
Find out more about the benefits and disadvantages of companies that buy houses in Charlotte below.
How do ‘we buy houses’ companies work?
“We buy houses” companies specialize in purchasing properties for cash directly from homeowners. They commonly offer to buy your home “as is,” which can be an appealing prospect to those who don’t have the means or desire to make repairs or updates.
“Their business model generally operates on buying lower-priced distressed or dated homes, making major renovations and then selling that property at a higher price,” says Kevin McClave, a Charlotte-based broker with Opendoor.
The primary benefit of selling to a “we buy houses” company is the speed with which they operate. “These businesses purchase properties with cash and can close sometimes within 2 to 3 days,” says real estate investor Cody Rudolph. “Compare that to the traditional buying process, where multiple parties and complex steps involved can slow down or stall the sales process.”
Consider, too, that when you list and try to sell your home conventionally with the help of an agent, you are hoping for the eventual buyer to secure needed financing. These companies pay cash, so you don’t have to worry about them potentially getting turned down for a loan.
To get an offer, all you typically have to do is send in your street address and some basic information about the property. Some companies will ask for pictures or send a representative to check out the home in person. Most will make you an offer within 48 hours, or often even less.
Be aware, however, that these outfits operate on tight margins, so they usually won’t be willing or able to offer top-of-the-market prices. You should not expect to make as much money on the sale as you would on the open market — however, you can expect the sale process to happen much faster and without the hassle of showing the home to a crowd of potential buyers.
You are not obligated to accept an offer from a “we buy houses” company. If you do want to accept it, though, don’t dilly-dally — they usually come with a relatively quick expiration date — and be sure to read everything very, very carefully before you sign on the dotted line.
Types of companies that buy houses for cash in Charlotte
If you’re interested in selling to a homebuying company in the Charlotte market, there are several options to choose from, from iBuyers to national franchisees to small, locally owned outfits.
iBuyers
Charlotte is a competitive market, and both of the biggest iBuying players, Opendoor and Offerpad, operate here. Both use algorithms and publicly available data to provide a fast cash offer after you provide information about the property online. They typically will not purchase homes in very poor condition, and the amount of your preliminary offer will likely be subject to an inspection. There could be hefty service fees as well, but both pay in cash and operate quickly.
National homebuying companies
Two of the biggest national homebuying chains also operate in Charlotte. The first, known simply as We Buy Houses, will arrange an in-person assessment of your property after you contact them. After the representative evaluates your home’s condition, you will receive a cash offer, typically within 24 to 48 hours. If you accept, the company aims to finalize the deal within 7 to 14 days.
HomeVestors (often known as the “we buy ugly houses” company) operates in a similar manner: A representative will visit your property to assess it, and shortly afterward, you’ll receive a cash offer. The closing process can be completed in as little as three weeks.
Local homebuying companies
Harmony Home Buyers: This local outfit buys all types of properties in any condition, including multi-family homes, condos, townhouses and mobile homes, and lets you choose your own closing date.
Opening Doors Properties: Run by a brother-sister team for more than 10 years, this outfit is based in nearby Denver, NC, and buys Charlotte-area homes in any condition. They specialize in customized solutions.
Travis Buys Homes: A family-owned company founded by a North Carolina native, they also buy homes in any condition. They also pay all closing costs and do not charge any fees.
Tiffany Property Investments: In business since 2015, Tiffany buys homes all over North Carolina, and a few locations in South Carolina, but it’s based in Charlotte. They buy in any condition, charge no fees and can close in 7–14 days.
Alternatives to consider
If you’re not sure whether a “we buy houses” enterprise is right for you, consider the following options:
List with an agent: Selling your home with a local real estate agent will certainly take longer — Charlotte homes spend a median of 40 days on the market before selling, according to November 2023 Redfin data — but it’s the surest way of earning top dollar.
Sell the home yourself: A for sale by owner (FSBO) listing takes a hands-on approach. It’s a lot of work, because you are essentially doing the job an agent would normally do, but it lets you avoid the cost of a listing agent’s commission.
Rent it out instead: “This could be an excellent alternative to selling, but only if you can rent the property for a monthly amount that covers your mortgage, taxes, insurance, maintenance and other costs while retaining a small profit,” says Rudolph. The median rent for a single-family house in Charlotte is $2,000, according to Zillow Rental Manager.
Next steps
Be careful to weigh the benefits of working with a “we buy houses” company against the drawbacks, the biggest of which is that you will likely receive much less than if you had listed your home traditionally. Also, research the company carefully before committing to any deal, and consult with a lawyer when in doubt. If speed and convenience are your top priorities, companies that buy houses in Charlotte could be a good option. But if you’d rather maximize your profit, hire an experienced local real estate agent.
FAQs
How can I sell my house fast in Charlotte?
Selling to a “we buy houses” company in Charlotte will be the fastest way to sell your home. Many such companies operate in the Charlotte market, specializing in making quick cash offers and closing rapidly. However, you will not make as much money on the sale as you likely would if you take a bit longer to sell on the open market with a real estate agent.
Are “we buy houses” companies legitimate businesses?
Yes, most “we buy houses” companies are legitimate businesses that fix-and-flip houses for a profit. But some operators may employ questionable business practices, or even scam tactics. “Some of them can be scam artists who try to trap or trick an unsophisticated or desperate seller,” says J. Keith Baker, a professor of real estate at Dallas College and author of “Real Estate Finance.” Be sure to research a company’s history, reputation, online reviews and Better Business Bureau rating before committing to any transaction. And always read a contract extremely carefully, making sure you understand all the details, before signing it.
