Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Sarasota area “we buy houses” companies 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.
We Buy Houses companies in Sarasota 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.
A variety of reasons may compel homeowners to sell this way. Maybe you need to move inland to Orlando for your partner’s dream job, and their new company needs them to start immediately. Perhaps you’re behind on mortgage payments and need to sell before the bank forecloses. Maybe you’re leaving Florida altogether and refuse to let the Sarasota real estate market dictate when you do so.
If you need to sell your Sarasota 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 Sarasota 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.
Working with house-buying companies in Sarasota
We Buy Houses companies in Sarasota typically promise to give home sellers quick, convenient all-cash offers, and exceptionally speedy closings, often wrapping up the property sale in as few as seven days. These house-buying companies have polished their processes to help sellers who need to move ASAP, and tend to target distressed homes in need of repairs.
Here’s how the process generally works:
- You request an all-cash offer. The company will ask you to provide information about your house and property. Some We Buy Houses groups will make a preliminary offer shortly after you submit the request. However, the initial offer is typically subject to change after they have inspected your home.
- The company performs a walk-through. This on-site property visit is typically completed within 24 to 48 hours. The timeframe may vary depending on the company and market.
- You receive a firm offer. Your official cash offer is typically received within 24 hours of the on-site visit, but can sometimes be presented at the end of the walk-through. At this point, you can accept or decline the offer. The majority of house-buying companies do not negotiate. They usually present a take-it-or-leave-it sale price.
- If you accept the offer, you’ll both sign a sales contract. With a signed sales agreement, the closing process will begin. Some house-buying companies will initially provide a large deposit or funds to assist the seller with moving costs. Others will pay for the property upfront.
- Close the sale and get paid quickly. We Buy Houses companies can typically close your home sale 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 Sarasota
If these benefits of selling to a house-buying company in Sarasota 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 parents’ ranch-style home or your beachfront condo. By selling to one of these companies, you should be able to sell your Sarasota home in as little as a week or two.
Real Options & Investments
Phone number: 239-323-6845
Locations: Southwest Florida
Real Options & Investments, a regional company based in Fort Myers and also serving surrounding cities, has been in business for nine years. Owners Frank and Jazmin Heron buy all home types for cash and pride themselves on providing personal service in order to help customers in the many unique situations that require a fast, easy sale.
According to their website, Real Options provides a stress-free three-step process that could be completed in only a few days. You contact them, they visit your property, and you review their guaranteed cash offer. They handle the paperwork, and there’s no pressure to accept the offer or move out quickly — you both agree on a timeline that works for you.
Closing costs: Sellers pay no closing costs; Real Options & Investments covers them.
Reviews: Real Options has been BBB accredited since 2017 and also holds an A+ rating. Customer reviews on the BBB for Real Options — averaging 5 out of 5 stars — speak to professionalism, customer service, and honesty, often mentioning Frank by name. They express that the process was simple, straightforward, and streamlined. Several reviewers also said that they felt they received fair offers on their homes. The company also has a 4.9-star rating on Google.
Simple Sale (a HomeLight platform)
Contact information: homelight.com/simple
Locations: Nationwide, including Sarasota
Simple Sale, a solution from HomeLight, is an online platform where sellers in Sarasota (and across the country) can request a cash offer for their home. Simple Sale has an extensive 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 Sarasota.
With Simple Sale, you can get an all-cash offer within five days 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 was founded in 2012 and is BBB accredited with an A-rating. The company has 4.6 stars on Google based on more than 500 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.
House Heroes, a seven-year-old company in southeast Florida, was founded by two childhood friends who first decided to try their hand at real estate together and have now completed over 150 closings. The company says it will purchase any home (condos, apartments, single-home, etc.) — and even vacant land — in any condition.
The House Heroes website promises homeowners a guaranteed cash offer within 24 hours as part of a three-step process. You could even receive a free, no-obligation offer within minutes, the site says, and the deal could be closed within days or within weeks, depending on your needs. Lucas and Earl’s team includes only four staff, and one of their core values is “Small Team, Big Service.”
Closing costs: While the company’s FAQ page says that there are no fees or commissions, it also says, “We’ll often pay for the closing costs too!” — leaving the door open that under some circumstances, a seller may be responsible for some or all of the closing costs.
Reviews: House Heroes has an A+ rating with the BBB, and has been accredited there since 2017. Customer reviews for House Heroes speak to the process being smooth and easy, as well as working with Lucas to be pleasant. Several of the BBB reviewers mention honesty and helpfulness, and the company’s BBB rating is 5 out of 5 stars. Meanwhile, the company has a 4.9 out of 5 stars with Google reviews, where customers again repeatedly mention Lucas and other team members by name and describe working with the company as smooth, seamless, and clear. Reviewers also tout their helpfulness, honesty, and professionalism.
Phone number: 855-997-6538
Locations: Florida, Georgia, Alabama
Meridian Trust is a 14-year-old regional company that is part of the Property Force family of brands. Meridian buys homes for cash, while Property Force provides properties to real estate investors. These two brands together have almost 100 employees, and Meridian’s website says they’ve purchased “thousands of homes” to date.
According to its website, Meridian will purchase any single- or multi-family home, apartment, or townhouse “as is” — no need to prep. And you can complete your transaction with them in four easy steps. As with other companies, receiving an offer in way obligates you to sell. One difference, however, is that Meridian says when you call, you’ll receive an “immediate cash offer.”
Nevertheless, your timeline to getting cash may be a bit longer with Meridian Trust. In special situations that “require extreme urgency,” their site explains, an express closing may be available in as little as ten business days after you sign the contract. However, their typical closing time is given as a few weeks.
Closing costs: Sellers pay no closing costs; Meridian covers “all customary closing costs” and advertises no commissions or hidden fees.
Reviews: Meridian Trust has been BBB accredited since 2012 and holds an A+ rating. With Meridian’s size come pros and cons, including a significantly higher number of Google and BBB reviews — but also a number of BBB complaints over the last three years, most of which are homeowners complaining about unsolicited advertisements or phone calls from the company.
Many of the company’s BBB customer reviews (averaging 4.35 out of 5) speak to the process being easy, smooth, and simple. They express that the various Meridian agents they worked with were professional and prompt in communicating. On Google, Meridian Trust has a 4.5 out of 5 star rating. A higher volume of reviews also means more negative reviews compared with smaller companies. However, many Google reviewers also highlight the company’s professionalism and responsiveness.
Florida Cash Home Buyers
Phone number: 954-519-7040
Florida Cash Home Buyers co-owners Omer Reiner and Gabe Garcia met in a yoga class, discovered a mutual interest in real estate, and later became friends and eventual business partners. They started Ft. Lauderdale-based Florida Cash Home Buyers in 2014 and, according to their website, have since purchased hundreds of homes.
Much like other companies, Florida Cash Home Buyers advertise a simple, three-step process that is likely to close in 15-30 days. Unlike some others, they do not give “immediate” or “instant” offers, but you can get a same-day offer at your offer appointment, which can be over the phone or in person. The company’s website does not specify whether there are certain home types that they do not buy.
Florida Cash Home Buyers also provide unique offerings. In some cases, for example, you may be able to get a cash advance before finalizing the sale, although this will typically still take about seven days after you accept their offer. In addition, you can also explore other packages for selling for a higher return.
Closing costs: Sellers pay no closing costs; Florida Cash Home Buyers covers them.
Reviews: Florida Cash Home Buyers has been BBB accredited since 2015 and holds an A+ rating and an average review score of 3 out of 5 stars. In reviews on Google (averaging 4.6 out of 5 stars), customers generally praise Florida Cash Home Buyers for being honest, professional, helpful, and for making the process easy. They express having experienced excellent service and calm and sensitivity in the face of customers’ sometimes-distressed life circumstances.
The Friendly Homebuyer
Phone number: 813-538-1518
Founded in 2017 by Jared Sandel, The Friendly Homebuyer advertises that they buy houses for cash in as little as three days and offer same-day appointments, preferring to do business face-to-face as much as possible. Their website also says that, in contrast to many other companies who may try to change a purchase price at the last moment, “when we commit to a purchase price, that’s the price we pay.”
The Friendly Homebuyer is another local business with only four people on staff, and it touts itself as being more trustworthy than many Cash-For-Homes outfits.
No repairs, or even trash clean-out are required before selling, and the company offers a flexible closing process where you can sign documents from anywhere. The Friendly Home Buyer is also willing to give you time after closing to move out of the home, if needed.
Closing costs: Sellers pay no closing costs; The Friendly Homebuyer covers them.
Reviews: The Friendly Homebuyer has been BBB accredited since 2017 and currently has an A+ rating. While there are no BBB reviews, the 5-star average ratings on Google speak highly of The Friendly Homebuyer as being professional, experienced, and honest — as well as providing quick, ethical, and smooth service.
Why sell your Sarasota house for cash?
There are plenty of valid reasons a Sarasota home seller may choose to work with a Cash-For-Homes company. Leading the list are the benefits of speed, certainty, and remarkable convenience.
In Sarasota, it typically takes around 77 days to sell a single-family home on the market using an agent. That includes a median of 23 days on the market, plus the typical 54 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 Sarasota, 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.
These companies are growing in popularity, especially for sellers who do not have the typically required long weeks or months to prepare, market, and close on a traditional home sale. Let’s look at some of the most common reasons Sarasota sellers decide to use a We Buy Houses for Cash company over listing a property the traditional way.
- The home has significant repair issues common in Sarasota, such as a leaky roof, cracked or moldy stucco, hurricane damage, a cracked foundation, or an inoperable air conditioner.
- The seller needs to cash in quickly or move ASAP due to a divorce, medical need, financial strain, job relocation, or some other pressing family or life change.
- The seller doesn’t have the necessary funds or desire to make home repairs.
- The seller doesn’t want the stress, work, or headaches of prepping the home, coordinating showings, negotiating, or navigating a lengthy or complex sales process.
- The seller desires the privacy of selling their property quietly off-market to a cash buyer.
- The seller is facing foreclosure and just wants to sell the home and settle their debts with the lender before the situation (or credit history) gets worse.
- The seller wants a convenient and fast way to unload an inherited property.
- The seller is a landlord who no longer wants to manage a rental property, or wants to relieve themselves of a problem tenant.
- The homeowner is growing old and moving in with a relative or into a care facility, prompting their family to sell the property for convenience or to help fund the move.
- The seller is living out of state and desires the benefits of an easy, quick cash sale.
If you are a homeowner facing any of these circumstances, requesting a cash offer from a We Buy Houses company might be a good option to consider. However, it’s prudent to think of this as a starting point in your search for solutions. You won’t know if it’s your best move until you know more about other options available to you, which we’ll help you review in a minute.
Pros and cons of house-buying companies in Sarasota
At this point, you’ve probably noticed that We Buy Houses for Cash companies in Sarasota can trigger a mixed bag of thoughts that can be difficult to sort. You may like the idea of speed and convenience, but you might be having trouble balancing these with the premium you might pay for a cash-offer service.
In this next section, we’ll walk you through some of the pros and cons of using a We Buy Houses company so you can better weigh your options.
One of the biggest advantages of working with We Buy Houses for Cash companies in Sarasota 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 typically sell your house in as few as seven to 10 days.
- More certainty: With a pre-offer walk-through, a house-buying company can provide a firm cash offer that comes with few contingencies, or no contingencies at all. We Buy Houses companies have refined their transaction methods in such a way that they can clear away many traditional roadblocks so sellers can plan with more confidence.
- No repairs: Again, if your home is in need of repairs you can’t afford, you can skip them altogether. Or, if you don’t have the desire or time to tackle repairs, a We Buy Houses company can be a fitting solution to sell a home in poor condition.
- Less hassle: You won’t need to worry about showings, open houses, fielding offers, negotiating, low appraisals, or the risk of the buyer’s financing falling through. When you work with a reputable We Buy Houses for Cash company in Sarasota, you’re likely going to experience a smooth journey 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.
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-priced offers: Most companies follow the 70% rule, meaning they’ll offer you about 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. This means the cash offer you receive may be markedly lower than what you could get for your home on the market.
- Inconsistent market knowledge: There can be a vast difference in a house-buying company’s knowledge of a market. One may have localized information, such as specific neighborhood data, which enables the company to leverage that knowledge into more competitive cash offers. A company without this expertise may give you a lowball offer.
- A company may be untrustworthy: As with any industry, there’s a risk of falling in with a less trustworthy company. Some cash-offer outfits deliberately make low offers to desperate homeowners and then pressure them into making a fast, unvetted decision. An unprincipled group may even engage in fraud tactics, though it’s rare.
- Pressure tactics: We Buy Houses for Cash companies know that homeowners in need of a quick sale are often facing a desperate situation. While many offer real solutions, some companies take advantage of this urgency by applying pressure tactics. If you feel pressured to accept an offer, step away and reassess your options. There are a good number of established We Buy Houses for Cash companies in Sarasota to choose from.
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
Within the Cash-For-Homes industry, 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 automated valuation models (AVMs), which use algorithmic technology to apply historic and current market data to their estimates. AVMs allow iBuyers to make 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 Florida.
iBuyers provide all-cash offers for homes and can close a sale in a matter of days to a few weeks. However, unlike typical We Buy Houses for Cash companies, iBuyers generally seek out homes that are in better condition and usually provide cash offers that are closer to market value, typically in the 90% range. iBuyer offers can sometimes be even higher, depending on the location and market conditions.
Sellers who may be a good fit to work with an iBuyer in Sarasota 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
It might be surprising to see this agent option included in our story about Cash-For-Homes businesses. Most homeowners seeking information about house-buying companies want to sell a home quickly, not in 77 days. But it’s wise to consider all your options.
If your home is in a housing market that’s seller-friendly, listing your property with a top real estate agent can result in a fast sale, especially if the house is strategically priced and superbly marketed.
Depending on the property and local market conditions, using an agent could pay off. Selling on the market typically yields the highest selling price, even more so if you partner with a proven professional. HomeLight’s internal real estate transaction data shows that the top 5% of agents sell homes for up to 10% more than average agents.
Another significant benefit of consulting with a trusted agent is the insight they can provide through a comparative market analysis (CMA). This is a market report that real estate agents provide to home sellers that acts as a tool to calculate the value of a home. The CMA evaluates a home’s size, features, location, age, and other details in relation to similar properties that have recently sold in the area. A CMA can help you determine an appropriate listing price, which can help estimate how quickly it might sell.
In addition, an experienced agent who knows your market may even be able to connect you with buyers who are willing to provide you with a cash offer that’s closer to your home’s market value.
Many agents will provide a CMA for free, with no obligation to list your home with them. It can be a valuable tool to weigh your options. If, in the end, you decide to sell to a house-buying company, you can proceed with more confidence, knowing you fully examined your options and made a sound financial decision.
If you are interested in exploring the agent option, HomeLight can connect you with a top-performing real estate agent in your area today.
FAQs on Sarasota house-buying companies
Are We Buy Houses for Cash companies legit or scams?
By and large, most We Buy Houses for Cash companies are legitimate businesses. 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 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.
How much will We Buy Houses for Cash companies in Sarasota pay?
As described in our pros and cons list above, most 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 Sarasota villa-style home could sell for $350,000 after repairs, but it’s going to need $25,000 of work to get there.
($350,000 x .70) – $25,000 = $220,000
In this example, a Sarasota We Buy Houses company might offer you around $220,000 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.
How much does selling a home to a We Buy Houses for Cash company in Sarasota cost?
When you accept an offer from a We Buy Houses for Cash company, you will likely be coming to grips with a two-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 the offer is accepted. On the other side, 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 is going to be the price you walk away with at the end of the deal. Of course, it’s always a good idea to flat-out ask the company if there are any hidden program fees that might impact your bottom line.
How do you sell a house for cash in Sarasota?
- Research and vet the house-buying companies that serve your 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 Sarasota vs. top Sarasota 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 Sarasota
|Sell with a top Realtor® in Sarasota
|7 to 30 days
|77 days, approximately; 23 to attract an offer, 54 to close the loan
|Deep clean, declutter, make necessary repairs, landscape, stage home
|10 to 25 showings average
|Inspections / repairs
|May need to make additional repairs for the buyer or renegotiate the price
|May need to lower your asking price if the appraisal comes in low
|Cash-for-homes companies often handle title issues
|Must clear title before you can sell home
|Mortgaged buyers use a financing contingency that could hold up the deal if the buyer’s loan doesn’t clear
|1% to 3% of the home sale price on top of agent commission
Example net proceeds
Below, we’ve put together 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 ranch-style home in Sarasota is currently worth about $490,000 and needs about $15,000 in repairs. Once the repairs are completed, the home might be worth around $505,000.
|Sell to a We Buy Houses for Cash company in Sarasota
|Sell with a top Realtor® in Sarasota
|Estimated sale price
|($505,000 x .70) – $15,000 = $338,500
|$4,900 (1% of sale price)
|$28,420 (5.8% of sale price)
|Estimated take-home for seller
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.
- We Buy Houses for Cash companies in Sarasota can make it possible to conveniently sell your home in as few as seven days with no repairs, open houses, or showings.
- There are a number of reputable Cash-For-Homes companies serving Sarasota.
- Using a We Buy Houses company could mean leaving a significant amount of money on the table compared to an agent-assisted or iBuyer sale.
- HomeLight’s Simple Sale platform provides no-obligation all-cash offers for homes in almost any condition in Sarasota. Because the platform has partner investors with different buying parameters across the region, 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 Sarasota sellers in need of a quick home sale, but it’s important to consider both the benefits and drawbacks. When it comes to selling your home, it’s wise to avoid making any hasty decisions.
Before making a commitment to a Cash-For-Homes company, gather multiple offers and take the time to weigh your options. Consider consulting with a top agent for expert insights on how soon, and for how much, your property might sell on the market. Whatever you decide, HomeLight would be happy to help with your real estate needs!
Header Image Source: (Ashley Satanosky / Unsplash)