Thu. Aug 18th, 2022
6-of-the-top-we-buy-houses-for-cash-companies-in-delaware

Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of companies in this post do not constitute an endorsement. Individual program details can also frequently change — please visit a company’s website for the most up-to-date- information on each program’s fees, market coverage, business model, and more. HomeLight always recommends doing your own research to determine which selling option is best for your situation.

Trying to sell your historical Cape Cod style home in The First State but worried that it doesn’t have enough curb appeal leftover from the hard and wet winters?

We Buy Houses companies in Delaware make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.

Maybe you’ve enjoyed Dover’s white sandy beaches and its closeness to major Northeastern metro areas, but you’re relocating for work. The good news is that you secured a job! The bad news is that you have to be there next week! Or maybe you inherited a turn-of-the-century Colonial home in Wilmington that has a lot of personality but needs a lot more work than you’re willing to pay for. You might just want to sell it quickly for cash.

If you need to sell your Delaware home quickly, a We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much a Delaware house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.

Get an All-Cash Offer on Your Delaware Home

No repairs, no staging, no open houses. HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in Delaware. Get an offer in as few as 48 hours and close in as little as 10 days.

Working with house-buying companies in Delaware

We Buy Houses companies in Delaware typically promise quick, all-cash offers and ultra-fast closings, often in as few as seven days. They tend to target distressed properties in need of repairs, and work with sellers who need to move ASAP.

Here’s how the process generally works:

  1. You request an offer and provide the company with some information about your home. Some companies may make a preliminary offer at this stage, but it’s usually subject to change once they’ve inspected your property.
  2. The company completes a walk-through of your property, usually within 24 to 48 hours.
  3. The company makes a firm offer (usually within 24 hours, sometimes on-site after the walk-through) which you can accept or decline. Most of these companies will not negotiate on price, so the offer is a take-it-or-leave-it scenario.
  4. If you accept the offer, you’ll both sign a contract and the closing process will begin. Some companies offer a large deposit or moving cost assistance, and a few may even pay for the home upfront.
  5. Closing and getting paid is quick, typically within seven days to a few weeks. This can vary by company, and sellers who work with a house-buying company often enjoy flexibility in selecting a move-out date that works for them.

Popular We Buy Houses for Cash companies in Delaware

If these benefits of selling to a house-buying company in Delaware sound 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 parent’s Craftsman home in Newark or cottage in Middleton. By selling to one of these companies, you should be able to sell your Delaware home in as little as a week or two.

We Buy Houses Delaware

Website: webuyhousesindelaware.com
Phone number: (302) 319-2841
Locations: Wilmington; buys homes in all Delaware counties

Andy Kologie and Liz Hutz started buying and flipping houses in 2015 and started We Buy Houses Delaware in 2022. The company is committed to being fair, honest, and respectful with every interaction. They specialize in sellers facing difficult situations and promise to bring a positive attitude and integrity to every deal. Kologie and Hutz strive to provide fair and honest cash offers for homes in Delaware.

With lots of experience helping people in challenging financial situations, We Buy Houses Delaware prides itself on customer satisfaction, integrity, and credibility. On its website, the company commits to ensuring that every homeowner is taken care of.

The company buys homes in all counties in Delaware but is based in Wilmington. Kologie and Hutz also operate The House Guys in the Washington, DC metro area. To work with We Buy Houses Delaware, you can set up a home visit and receive an offer within 24 hours. If you accept, you can typically close within a week.

Closing costs: Sellers pay no closing costs; We Buy Houses Delaware covers them.

Reviews: With 19 Google reviews, We Buy House Delaware has a 4.8 out of 5 rating. Customers say that the company worked quickly, friendly, and professionally throughout the process. Many reviewers report they received reasonable offers and quick closings.

Simple Sale (a HomeLight platform)

Contact information: homelight.com/simple
Phone: (844) 488-8455
Locations: Nationwide, including Delaware

Simple Sale, a solution from HomeLight, is an online platform where sellers in Delaware (and across the country) can request a cash offer for their home. Simple Sale has a network of cash buyers on its platform, and 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 Delaware. With Simple Sale, you can get an all-cash offer in as few as 48 hours and sell your home in as little as 10 days, skipping the months it can take to sell the traditional way.

Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Individual investor fees may vary.

Reviews: Simple Sale is a HomeLight platform. HomeLight is BBB accredited with a customer review rating of 4.57 stars out of 5, and has 4.6 stars on Google based on 355 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.



302 House Buyers

Website: 302housebuyers.com
Phone number: 302-329-8899
Locations: Hockessin; buys homes in Wilmington, New Castle County, and surrounding areas

302 House Buyers started in 2008 and became accredited by the Better Business Bureau in 2017. It has a 4.94 out of 5 stars rating and an “A” from the BBB. The company specializes in sellers who prefer speed or convenience, including sellers in foreclosure, uninhabitable homes, and people in distressed financial situations.

Although the company buys homes in several Delaware counties, it focuses on homes in the Wilmington area and New Castle County. To work with 302 House Buyers, you can provide your contact and property information and receive an offer within 24 hours. If you accept, you can close in as few as seven days.

Closing costs: Sellers pay no closing costs; 302 House Buyers covers them.

Reviews: With 19 Google reviews, 302 House Buyers boast a 4.6 out of 5 rating. Customers say Ken and Karen made the process “quick and painless.” Their customers especially appreciate the communication and friendliness compared to other home buying companies. Many reviewers report they received quick and easy offers and closings.

Express Homebuyers

Website: expresshomebuyers.com/delaware
Phone number: (877) 804-5252
Locations: Springfield, VA; buys homes in Rehoboth, Dewey, the Shore, and Wilmington

Express Homebuyers has been around since 2004 and became accredited by the Better Business Bureau in 2004. It has a 4.84 out of 5 stars rating and an “A+” from the BBB. The company specializes in helping sellers with homes in any condition, dire financial situations, and people looking to offload an unwanted property quickly.

The company has bought more than 4,000 homes nationwide and focuses on homes in Rehoboth, Dewey, the Shore, and Wilmington. To work with Express Homebuyers, you can provide your contact and property information and receive an offer in a few minutes. Then you schedule a home visit and finalize the offer. If you finalize, you can close in as few as seven days.

Closing costs: Sellers pay no closing costs; Express Homebuyers pays them.

Reviews: With 100 Google reviews, Express Homebuyers commands a 4.3 out of 5 rating. Customers say that the company was fast and efficient. Several reviewers report they received fair offers and quick closings. Some reviewers discussed the lack of communication from the company on Google reviews. Still, the company apologized to most of them and provided more information.

Opp Real Estate

Website: webuyhomesde.com
Phone number: (302) 327-6760
Locations: Newark; buys all over Delaware

Timothy Oppelt started Opp Real Estate in 2015. The company is locally owned and focuses on helping Delaware homeowners find solutions to their real estate challenges, such as foreclosure, inability to sell a home, or just a need to sell a property fast for any reason. The Better Business Bureau website does not indicate BBB accreditation, but the company holds an “A+” BBB rating and an open BBB file since 2017.

Maybe you want to sell your cottage in Dover and relocate to a waterfront property in Wilmington. Opp Real Estate has bought homes all over Delaware and prides itself on the company’s flexibility and creativity. To work with the company, provide your property information, set up an appointment, and receive an offer within 24 hours. If you accept the offer, you can close in as little as two weeks.

Closing costs: Opp Real Estate often pays the closing costs.

Reviews: With a handful of Google reviews, Opp Real Estate commands a 5.0 out of 5 rating. Customers say Tim, the owner, is kind and committed to his customers. Also, the company says it strives to be solution-driven and efficient, especially compared to other house-buying companies. Its website features a customer experience video testimonials page.

Delmarva Dave

Website: delmarvadave.com
Phone number: (302) 291-4320
Locations: Delmarva Peninsula; buys homes in Kent and Sussex Counties

Delmarva Dave (Dave Schmidt) is a licensed Delaware Real Estate Agent with memberships in local, state, and national associations. Schmidt started his company, Delmarva Dave, in 2019 and holds a Better Business Bureau rating of “A+.” The company uses a simple criteria checklist, including location, condition, and need for repairs, to decide what to pay for a property. They specialize in expedited home purchasing, unique situations, and distressed properties.

Delmarva Dave buys homes primarily in Kent and Sussex Counties and along Maryland’s Eastern Shore. To work with the company, you provide property information, and the company promises to provide a fast cash offer. They set up an appointment and receive an offer within 24 hours. If you accept the offer, you can close in as little as two weeks.

Closing costs: Sellers pay no closing costs; Delmarva Dave covers them.

Reviews: Delmarva Dave currently has a 5.0 out of 5 rating from four Google reviews about the company. Customers say Dave is personable and accommodating to his customers. Also, the company helps people in unique financial positions that need immediate help.

Why sell for cash in Delaware?

There are plenty of reasons a Delaware seller may choose to go the Cash-For-Homes route, speed and certainty being chief among them.

In Delaware, it typically takes around 72 days to sell a home on the market using an agent. That includes an average of 18 days on market, plus the typical 54 days a buyer needs to close on a purchase loan.

Compare that to the typical seven days promised by many We Buy Houses for Cash companies in Delaware, and you can see why these companies remain popular, even though they don’t always offer top dollar.

Not every seller has months to prep, market, show, and close. Let’s look at some common reasons Delaware sellers choose Cash-For-Homes companies over listing the traditional way.

  • The home has major repair issues common in Delaware such as the insulation in coastal Cape Cod homes and repairing the gambrel roof on a historic Colonial home.
  • The seller needs to move or cash in quickly due to divorce, job relocation, medical need, financial stress, etc.
  • The seller doesn’t have the means or desire to make repairs.
  • The seller doesn’t want to bother prepping the home, dealing with showings, negotiating, or navigating a long sales process.
  • The seller prefers the privacy of selling their home off-market to a cash buyer.
  • The seller is in the foreclosure process and wants to sell the home and settle up with the lender before it’s too late.
  • The seller inherited property and wants to unload it as quickly as possible.
  • The seller is a landlord who has problem tenants or no longer wishes to manage a rental property.
  • The homeowner is aging and moving into a care facility, prompting their family to sell the home.
  • The seller is living out of state and prefers the ease of a cash sale.

If any of these sounds like you, requesting a cash offer from a We Buy Houses for Cash company might be a good starting point, though it’s not your only option, and it may not be your best move (we’ll dive into your other options in just a minute!).

Pros and cons of house-buying companies in Delaware

By now, you’ve probably figured out that We Buy Houses for Cash companies in Delaware are a bit of a mixed bag. You get speed and service, but you may “pay” a sizable premium for that service. Let’s walk through a few pros and cons to consider while weighing your options.

Pros

One of the biggest advantages of working with We Buy Houses for Cash companies in Delaware is that you can sell your home “as is” with no repairs required, and they’ll buy homes in any condition.

If your home was severely damaged in a weather event, or you’ve fallen years behind on routine maintenance, you can still sell without needing to make the extensive repairs that financed buyers may require.

Here are some other pros to consider:

  • Speed: You can often sell your home in as few as seven days.
  • Certainty: Since the company does a pre-offer walk-through, their offer is firm and comes with few (if any) contingencies. Cash-For-Houses companies are experts at clearing roadblocks and closing deals.
  • No repairs: Again, if your home is in rough shape and you don’t have the funds or the patience to make repairs, you can skip them altogether and save yourself the stress.
  • Less hassle: You don’t have to deal with staging, open houses, fielding offers, negotiating with picky buyers, worrying about the appraisal, or stressing about the buyer’s financing falling through. Overall, reputable We Buy Houses for Cash companies in Delaware offer a smooth ride from offer to close.

That all may sound pretty great to you as a seller if you’re looking to move within weeks rather than the months it might take you to list and sell your home on the market with an agent. However, there are downsides to working with Cash-For-Homes companies. Namely, they typically offer substantially below market value for your home.

Cons

When considering an offer from a We Buy Houses site, remember that these are house-buying companies, which means they’re ultimately trying to make a profit. They plan to fix up your home and either resell it or rent it out. That takes considerable time, skill, and investment.

Here are some potential downsides to weigh:

  • Lower offers: Most companies follow the 70% rule, meaning they’ll offer you 70% of your home’s after-repair value (or the value that your house could sell for on the market once it’s all fixed up) minus repair costs. So the price you get for your home may be appreciably lower than what you’d get on the market.
  • Inconsistent market knowledge: Not all cash home buying companies are equal. Some are more localized, have specific neighborhood knowledge, and are able to leverage that expertise into more competitive offers. Others are less knowledgeable about the specifics of your community, which could result in lowball bids.
  • Not all companies are trustworthy: Some companies make extremely low offers to desperate homeowners and try to pressure you into making a quick decision. A few bad players may even engage in fraud tactics, though it’s uncommon.
  • They may use pressure tactics: These companies know that homeowners looking to sell quickly are often desperate, and some do take advantage of that by using pressure tactics. You should never feel pressured to accept an offer, especially since there are plenty of We Buy Houses for Cash companies in Delaware to choose from. If anyone makes you uncomfortable, it’s time to move on to another option.

Your home is more than a place where you make memories with family, it’s also likely your biggest asset. Sure, you want to sell quickly, but you could be leaving major money on the table if you choose to work with one of these We Buy Houses for Cash companies.

Always do your research, compare your options, and consult with a trusted advisor before accepting any offer.

Vet cash buyers and know your home’s worth

For many home sellers, We Buy Houses for Cash companies can be a solid solution to get a property sold quickly or to access cash for an expected life challenge. On the other hand, the “cash for your home” rehabbing business model has also led to what some housing advocates call predatory tactics.

The level of integrity and customer service you experience can vary, even within an established house-buying company that strives to maintain consistent business standards. This is because many We Buy Houses for Cash companies are franchises and often use independent investors or local wholesaling outfits. Your experience greatly depends on the character of the person or group making the offer.

If you are considering 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.

Before committing to a We Buy Houses for Cash company, HomeLight suggests you consult with a top agent to get a better idea of what your home might be worth if sold on the open market. Then compare cash offers to what a top agent might be able to get for your home. HomeLight can connect you with a top-performing agent in your market.

You can also use HomeLight’s free Home Value Estimator right now to get an initial ballpark estimate in less than two minutes.

Other options to sell your home quickly

iBuyers

Within the cash-for-homes business you’ll also encounter a particular group of companies known as iBuyers, or instant buyers.

iBuyer companies offer sellers many of the same conveniences of other house-buying operations, but they also leverage algorithmic technology, otherwise known as automated valuation models (or AVMs), to make you a near-instant offer on your home and provide a user-friendly, mostly online home sale experience.

iBuyers have only been around since the mid-2010s, but are now widely available across Delaware.

iBuyers offer all-cash and can close in a matter of days to a few weeks. But unlike more traditional We Buy Houses for Cash companies, iBuyers tend to look for homes in better condition and offer much closer to market value, typically in the 90% range — and sometimes more, particularly in a hot real estate market.

Though one thing to note is that major iBuyers like Opendoor, Offerpad, and Redfin usually charge sizable fees for their services, between 5% and 13%.

Sellers who may be a good fit to work with an iBuyer in Delaware include those who prefer to skip staging and showing their home, who live in an area with somewhat similar housing, and who have a home in relatively good shape.

Listing with an agent

You want to sell your house quickly, not in 72 days. But hear us out! With many housing markets still being largely seller-friendly, many listings are flying off the market in a matter of days, especially those that are priced strategically.

Going with an agent could pay off big time. Selling on the market generally fetches the highest home price, and that’s especially true if you work with a skilled professional. Our internal transaction data at HomeLight shows that the top 5% of real estate agents sell homes for up to 10% more than average agents.

This is a big financial decision, so it may make sense to consult with a trusted real estate agent who can complete a comparative market analysis (CMA) to help you understand your home’s value and how quickly it’s likely to sell.

Your agent may even be able to connect you with cash buyers who are willing to offer closer to market value for your home.

Plus, a CMA is usually free and you’re under no obligation to list with the agent, so this may be a good tool to explore your options. Even if you end up deciding to work with a Cash-For-Homes company, at least you’ll know you’re making a sound financial decision.

Overwhelmed by finding an agent? HomeLight would be happy to connect you with a top performer in your area today.

FAQs on Delaware house-buying companies

Are We Buy Houses for Cash companies legit or scams?

Most We Buy Houses for Cash companies are legit, and you can rest assured that this business model has been around for decades.

However, it’s always a good idea to keep an eye out for scams, or anything that just doesn’t seem right. Always thoroughly research companies ahead of time. Verify all professional licenses, check customer reviews, get a referral if possible, and vet the company on the Better Business Bureau website.

How much will We Buy Houses for Cash companies in Delaware pay?

Most Cash-For-Homes companies follow the 70% rule, meaning they’ll offer you 70% of your home’s after-repair value, minus repair costs.

Here’s what that simple formula looks like:

(Your home’s ARV x .70) – repair costs

Now let’s take a look at a practical example. Let’s say your Delaware cottage could sell for $350,000 after repairs, but it’s going to need $80,000 of work to get there.

($350,000 x .70) – $80,000 = $165,000

In this example, a Delaware cash-for-homes company will probably offer you around $165,000 for your property.

However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more like 90%-95% of market value while charging a fee for their services.

How much does selling a home to a We Buy Houses for Cash company in Delaware cost?

Selling a home to a We Buy Houses for Cash company shouldn’t cost you any money, though you’ll likely get less overall for your home.

Since these companies are geared toward distressed homes, they tend to have zero fees, and will even cover your closing costs. That means the offer you get is the price you should walk away with. Make sure to ask about any hidden program fees that could eat into your bottom line.

How do you sell a house for cash in Delaware?

  1. Research and vet house-buying companies available in your area. The above list is a great place to start.
  2. Submit offer requests to your top few companies.
  3. Schedule any on-site visits.
  4. Field and compare offers. Choose the best option for you.
  5. Close in a week to 30 days and get paid (or you can often choose a later closing date, up to 90 days after receiving the offer).

We Buy Houses for Cash in Delaware vs. top Delaware agent

Wondering how a We Buy Houses for Cash company stacks up against working with a real estate agent? We’ve got you covered.

Aspect of the sale Sell to a We Buy Houses for Cash company in Delaware Sell with a top Realtor® in Delaware
Sale timeline 7 to 30 days 72 days average; 18 to attract an offer, 54 to close the loan
Home preparations None Make necessary repairs, deep clean, declutter, landscape, stage home
Showings None 10 to 25 showings average
Inspections / repairs None May need to make repairs for the buyer or renegotiate price
Appraisal None May need to lower the price if appraisal comes in low
Title search Cash-for-homes companies often handle title issues Must clear title before you can sell home
Financing contingency None Mortgaged buyers use a financing contingency that could hold up the deal if the loan doesn’t clear
Agent commission None 5.8% average
Closing costs None 1% to 3% of sale price on top of commission

Example net proceeds

Let’s say your Cape Cod style home in Dover is currently worth about $280,000 and needs about $15,000 in repairs. Once the repairs are made, the home should be worth around $295,000.

Sell to a We Buy Houses for Cash company in Delaware Sell with a top Realtor® in Delaware
Estimated sale price ($280,000 x .70) – $15,000 = $181,000 $280,000
Market preparations 0 $2,800 (1% of sale price)
Agent commissions 0 $16,240 (5.8% of sale price)
Closing costs 0 $4,200 (1.5%)
Estimated take-home for seller $181,000 $256,760

Obviously, financially it’s usually in your best interest to go with a top agent, but depending on the condition of your home and any repairs needed, selling on the open market could be challenging.

Key takeaways

  • We Buy Houses for Cash companies in Delaware can offer you a way to sell your home in as few as seven days with no repairs, showings, or hassles.
  • There are many reputable cash homebuying companies across Delaware, and most sellers going this route can find a company that suits their needs.
  • You could leave significant money on the table using a Cash-For-Homes company versus going with a top agent or iBuyer.
  • HomeLight’s Simple Sale platform provides no-obligation all-cash offers for homes in almost any condition in Delaware. Because the platform has partner investors with different buying parameters across the state, it can be a great starting point if you aren’t sure who would buy your home.

House-buying companies can be a good alternative for Delaware sellers in need of a quick exit from homeownership, but they’re not without drawbacks. However you choose to sell your home, it’s important to avoid making a hasty decision.

For best results, take the time to weigh your options, gather offers from multiple companies, and consider consulting with a top agent to see how easily your property could sell on the market.

Header Image Source: (Gökhan Kara / Unsplash)

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