4 Top We Buy Houses for Cash Companies in Toledo
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Joseph Gordon Associate EditorJoseph Gordon is an Associate Editor with HomeLight. He has seven years of experience reporting on the commercial real estate and insurance industries. He holds an MFA in Creative Writing from the University of San Francisco.
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
In Toledo, “We Buy Houses” companies offer an appealing solution for homeowners looking to sell quickly, especially for properties that may need some work. These companies make all-cash offers, providing a lifeline for sellers who may not have the time, expertise, or resources to manage repairs.
A cash sale with a house-buying company in Toledo can be the right move when dealing with unexpected or pressing life events. It opens a pathway to liquidate your asset promptly, bypassing the conventional, often lengthy, home-selling process.
This post will explore the advantages and disadvantages of working with cash-for-homes companies in Toledo, giving you the insights needed to weigh your options thoughtfully and make an informed decision about selling your home.
Sell Your House Fast in Toledo 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 Toledo area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Toledo
When you need a fast sale of your Toledo home, working with a house-buying company can streamline the process. Here are the basic steps to sell your house quickly to a cash-for-homes company:
- Contact the company: Reach out to a reputable house-buying company in Toledo and provide them with basic information about your property.
- Schedule a visit: Allow the company to inspect your home. This visit is to assess the condition of your property and determine an offer.
- Receive an offer: After reviewing your home, the company will make an all-cash offer based on its current condition.
- Review the offer: Take some time to review the provided offer. Remember, these companies often present a no-obligation, take-it-or-leave-it deal.
- Accept the offer: If the offer meets your needs, you can proceed by accepting it to move forward with the sale.
- Close the sale: Close the deal at a reputable title company, receive your cash, and finalize the sale without the usual hassles of selling a home.
Popular We Buy Houses for Cash companies in Toledo
If the process of selling to a house-buying company in Toledo 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’ Craftsman or Colonial. By selling to one of these companies, you should be able to sell your Toledo home in as little as a week or two.
House Buyer for Cash
House Buyer For Cash is dedicated to offering homeowners effective solutions to challenging situations such as foreclosure, probate, or the ownership of burdensome properties. Since its inception, this company has established itself as a reliable partner for individuals seeking quick exits from difficult real estate circumstances.
Locations: Toledo and surrounding areas
Closing costs: Sellers pay no closing costs; House Buyer for Cash covers them.
House Buyer for Cash receives high praise for its trustworthy and efficient home-buying process. Clients particularly appreciate dealing with Chris, highlighting his honesty, integrity, and fair dealing. Reviews consistently mention the smooth and hassle-free closing process, even for homes requiring significant improvements. They have a Google review rating of 4.8.
Website: housebuyerforcash.com
Phone number: 419-540-8311
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Toledo (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 Toledo.
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 Toledo
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
Ohio Cash Buyers
Ohio Cash Buyers will purchase homes for sellers in any number of situations, including foreclosure, sudden military transfer, and more. The company is based out of Springboro, Ohio, and has been in business for the past 16 years.
Locations: Toledo, areas in Greater Cincinnati and Dayton regions
Closing costs: Sellers pay no closing costs; Ohio Cash Buyers covers them.
Ohio Cash Buyers has been BBB accredited since 2019 and holds an A+ BBB grade rating. Ohio Cash Buyers receives stellar reviews for their professionalism, friendliness, and trustworthiness. Clients appreciate the seamless, informative process, especially during difficult personal circumstances like selling a family home after a loss. They have a Google review rating of 5.0.
Website: ohiocashbuyers.com/sell-my-house-fast-in-toledo-oh/
Phone number: 937-756-5000
We Buy Houses, Toledo
WeBuyHouses.com was founded in 1997 and buys houses in 200 markets and 30 states in any condition. According to their website, they have been trusted by 1 million homeowners and can present a cash offer even if the homeowner is behind on their mortgage or facing foreclosure.
Locations: Nationwide, including Toledo
Closing costs: Sellers pay no closing costs; WeBuyHouses.com covers them.
WeBuyHouses.com has been BBB accredited since August 2020 and has an A+ rating. Customer reviews for WeBuyHouses.com speak to their professionalism and understandable procedure.
Website: webuyhouses.com/OH/Toledo/
Phone number: 877-932-8946
Why sell your Toledo house for cash?
There are plenty of valid reasons a Toledo home seller may choose to work with a Cash-For-Homes company. The benefits of speed, certainty, and remarkable convenience are leading the list.
In Toledo, it typically takes around 91 days to sell a home on the market using an agent. That includes an average of 47 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 Toledo, 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 offer might be advantageous for you:
- Job relocation: When you need to move quickly for a new job opportunity, selling for cash means a faster transition without the worry of a lingering property sale.
- Divorce: In the midst of a divorce, selling your home for cash can simplify the division of assets and reduce the stress associated with selling a property.
- Inherited: Dealing with an inherited home can be complex and emotionally taxing. A cash sale is straightforward and quick.
- Downsizing: If you’re looking to downsize, selling your current home for cash can quickly free up funds to secure your next place.
- Repairs: Selling a home that requires significant repairs can be daunting; a cash offer avoids the need for renovations.
- Foundation issues: Homes with serious structural problems like foundation issues can be difficult to sell traditionally; cash buyers often take on these challenges.
- Foreclosure: If you’re facing foreclosure, a quick cash sale can settle debts efficiently and possibly protect your credit.
- Tenants: Selling a property with tenants can be complicated; cash buyers typically purchase with tenants in place.
- Selling from out of state: Managing a property sale from another state can be cumbersome; cash sales simplify this process.
Pros and cons of house-buying companies in Toledo
When considering selling your Toledo home to a house-buying company, it’s important to weigh the pros and cons. These companies offer a unique selling avenue with distinct advantages and disadvantages.
Pros:
House-buying companies in Toledo are favored for their speed and the convenience of buying your house as-is, allowing you to skip the hassle of repairs and preparations. Here’s a quick look at the key benefits:
- Speed of sale: A house-buying company can often close on a property in as little as a week, offering a swift solution for those who need to sell quickly.
- No need for repairs: You can sell your home as-is, without investing in costly repairs or upgrades, which is ideal if you’re short on time or funds.
- Simple process: These companies streamline the selling process, reducing paperwork and eliminating typical selling contingencies.
- Avoids complications: Selling to a cash buyer means you don’t have to worry about buyer financing falling through at the last minute.
Cons:
While the advantages are appealing, the primary downside is receiving an offer below market value. Here are the main drawbacks to consider:
- Lower offers: Expect offers that are often significantly below what you might achieve on the open market with a skilled real estate agent.
- Limited negotiation: The offers from these companies are usually firm, leaving little room for bargaining on price.
- Potential for scams: Always vet the company thoroughly as the industry can be prone to scams.
- Loss of potential profits: Selling for a quick cash offer might mean missing out on higher profits from a market sale, especially in a seller’s market.
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
The level of integrity and service you experience from a We Buy Houses for Cash company can vary, even within an established house-buying group that strives to maintain high standards. This is because many Cash-For-Homes companies are franchises and often use independent investors or wholesaling outfits. Your experience depends on the character of the person or group making the offer.
Before committing to a cash offer, vet the company thoroughly. Check reviews, read testimonials, and research its presence and performance in the market. And, of course, read the buying agreement carefully before signing.
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 Toledo home quickly
iBuyers: iBuyers, or instant buyers, use automated valuation models to make quick, all-cash offers for homes in good condition. Companies like Opendoor and Offerpad typically complete the iBuyer process in just a few days to two weeks, charging service fees of 5%-6%. This option is ideal for sellers in regions with uniform housing stock.
Listing with an agent: While slower than house-buying companies, listing with a top real estate agent can still result in a relatively quick sale if your home is in a seller-friendly market and well-marketed. Agents provide valuable insights with a comparative market analysis (CMA), which is often free, helping you set a competitive price and gauge how quickly your home might sell. For those looking to explore the agent option further, HomeLight can connect you with top-performing agents in your area.
FAQs on Toledo house-buying companies
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 Toledo 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 Toledo Colonial could sell for $115,000 after repairs, but it will need $30,000 of work to get there.
($115,000 x .70) – $30,000 = $50,500
In this example, a Toledo We Buy Houses company might offer you around $50,500 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.
When you accept an offer from a Toledo 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 Toledo 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 Toledo vs. top Toledo 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 Toledo | Sell with a top Realtor in Toledo |
| Selling timeline | 7 to 30 days | 91 days average; 47 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 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 | 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 Toledo is worth about $450,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $475,000.
| Sell to a We Buy Houses for Cash company in Toledo | Sell with a top Realtor in Toledo | |
| Estimated sale price | ($140,000 x .70) – $25,000 = $73,000 | $115,000 |
| Market preparations | 0 | $1,150 (1% of sale price) |
| Agent commissions | 0 | $6,670 (5.8% of sale price) |
| Closing costs | 0 | $1,725 (1.5%) |
| Estimated take-home for seller | $73,000 | $105,455 |
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
- Quick sale: Selling your Toledo home to a house-buying company offers the speed and convenience of a fast cash transaction, ideal if you’re in a hurry.
- No repairs needed: You can sell your home as-is, avoiding the cost and time involved in making repairs.
- Simple process: The sale process with a house-buying company is straightforward, reducing stress and eliminating many typical hurdles of home selling.
- Consider all options: While fast and convenient, these companies often make offers below market value, so consider your financial needs carefully.
- Be cautious: It’s important to vet house-buying companies thoroughly to avoid potential scams.
- 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 Toledo agent.
Header Image Source: (Mshake / Depositphotos)
