Sell Your House Fast
Selling Advice
Published on May 29th, 2024
15 min read
Joseph Gordon Editor
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Joseph Gordon Editor
Joseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
If you’re a homeowner in Reading facing the need for a fast home sale, you might be considering a house-buying company. We Buy Houses companies in Reading make all-cash offers for homes, even those needing repairs. This option can be a lifesaver if you lack the time, expertise, or money for repairs.
This option is best suited for sellers who need to dispose of their homes quickly, usually due to a change in circumstances like the need to downsize or relocating for a new job.
In this post, we’ll present the pros and cons of selling to a cash-for-homes company in Reading. We will also present you with some alternatives to We Buy Houses companies and break down how the process works.
Sell Your House Fast in Reading, PA With a Cash Offer
Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in 24 hours and close in as few as 10 days. No showings, no repairs, no open houses. Available to sellers throughout Reading, PA.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Reading area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Reading
Working with a house-buying company can make the process straightforward when you need to sell your house quickly in Reading. Here are the essential steps to complete a fast cash sale with a reliable company.
1. Reach out: Contact a house-buying company in Reading via their website or phone to express your interest in selling.
2. Arrange an inspection: The company will schedule a visit to your home to evaluate its condition and determine its value.
3. Get an offer: After the inspection, the company will provide you with a no-obligation cash offer, usually within 24 to 48 hours.
4. Evaluate the offer: Review the cash offer. If it meets your expectations, you can accept it to proceed with the sale.
5. Sign the agreement: Once you accept the offer, you’ll sign a purchase agreement detailing the sale terms.
6. Complete the sale: The company will manage the closing process, often covering all costs. You’ll receive your cash payment, typically within a week.
Popular We Buy Houses for Cash companies in Reading
If the process of selling to a house-buying company in Reading 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’ Ranch and Cape Cod-style. By selling to one of these companies, you should be able to sell your Reading home in as little as a week or two.
Lee Buys Homes
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Lee Buys Homes, a family-owned real estate solutions company based in Reading, can typically make a fair all-cash offer within 24 hours. They offer flexible closing options, allowing you to close as quickly as seven days or on your preferred schedule.
Locations: Serves Reading and surrounding areas
Closing costs: Sellers pay no closing costs; Lee Buys Homes covers them.
Lee Buys Homes has a 4.9 Google star rating based on 13 reviews. One review noted the team’s assistance with selling a property that was far from where the seller was located. The Lee Buys team handled the leg work, making the sale fast and easy.
Website: leebuyshomes.com
Phone number: 484-246-7304
Simple Sale (a HomeLight platform)
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Simple Sale, a solution from HomeLight, is an online platform where sellers in Reading (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 Reading.
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 Reading
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
Restorative Housing Solutions LLC
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Restorative Housing Solutions, a family-owned real estate solutions company based in Reading, is owned by Luis Vanderhorst and Elizabeth Vanderhorst. To get started, fill out a short form on the website with details about your property, contact number, and email. A meeting will be scheduled within 24 hours.
Locations: Serves Reading
Closing costs: Sellers pay no closing costs; Restorative Housing Solutions covers them.
Restorative Housing Solutions LLC has a 5.0 Google star rating based on 15 reviews. A client described them as a great company to work with, highlighting their speed, professional handling of questions, and seamless offer and settlement process. They found it to be one of the easiest processes with no hassle and would recommend the company to anyone they know.
Website: restorativehousing.com
Phone number: 610-595-4111
Pezon Properties, Reading
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Pezon Properties in Reading buys single-family homes and workforce housing in urban and suburban areas of the Greater Lehigh Valley, Reading, and the Poconos. They are a local, family-owned home-buying business that can present you with a fair, all-cash offer in 24 hours and close in 14 days. They aim to sell on your terms and close quickly.
Locations: Throughout Pennsylvania, particularly Reading, Poconos, and Lehigh Valley areas
Closing costs: Sellers pay no closing costs; Pezon Properties covers them.
Pezon Properties has a 5.0 Google star rating based on more than 30 reviews. A client shared that Pezon Properties did what they said they would. They bought their friend’s house for cash and closed quickly. The house had tenants who did not take good care of it, but Pezon Properties handled the tenants and their belongings, providing a big relief.
Website: pezonproperties.com/sell-my-house-fast-in-reading-pa
Phone number: 484- 484-0971
Berks County House Buyers
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Berks County House Buyers, a family-owned real estate solutions company in Sinking Spring, has been serving the Berks County area for 12 years and continues to operate out of West Lawn. Share details about your property, and they’ll schedule a quick appointment if it meets their criteria. They provide various selling options with no obligations, offer quick closings in as little as seven days, and prioritize working on your schedule.
Locations: Serves Berks County, including Reading
Closing costs: Sellers pay no closing costs; Berks County House Buyers covers them.
Berks County House Buyers has a 3.8 Google star rating based on 14 reviews. A client chose them for their local presence and was impressed by their postcard contact. They found the transaction pleasant and professional, with quick and competent responses to all concerns and questions.
Website: berksdirectcashbuyers.com
Phone number: 610-816-6205
Why sell your Reading house for cash?
Is selling your Reading home for cash the right move for you? If you find yourself caring more about the speed and ease of the transaction than your overall bottom line, it might be a good move.
In Reading, it typically takes around 69 days to sell a home on the market using an agent. That includes an average of 27 days on the market plus the typical 42 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 Reading, 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 selling to a house-buying company might be a fitting solution:
Job relocation: You need to move quickly for a new job opportunity and don’t have time to wait for a traditional sale.
Divorce: You’re going through a divorce and want to divide assets quickly and move on with your life.
Inherited property: You’ve inherited a house you don’t want to keep and prefer to sell it without hassle.
Downsizing: You’re downsizing and want to sell your current home swiftly to move into a smaller, more manageable property.
Significant repairs: Selling a house in poor condition is an option if you can’t afford or don’t want to handle major repairs.
Avoiding open houses: You prefer to skip the stress and inconvenience of staging and hosting multiple open houses.
Foundation issues: Your home has serious foundation problems, making it hard to sell on the traditional market.
Facing foreclosure: Selling a house in foreclosure means you need to sell quickly to avoid damaging your credit.
Problem tenants: You own a rental property with difficult tenants and want to sell without evicting them.
Selling from out of state: You live far away and need a convenient way to sell a house from out of state.
Pros and cons of house-buying companies in Reading
Selling your home to a house-buying company in Reading can be a convenient option, but it’s important to weigh the pros and cons before deciding. Here are some key points to consider.
Quick sale: You can sell your house fast, often within a week, which can be ideal if you can’t wait
No repairs needed: Sell your home as-is, regardless of its condition, and avoid costly repairs.
Convenience: The company handles all the paperwork and logistics, making the process hassle-free for you.
Certainty: Cash offers eliminate the risk of deals falling through due to contingencies.
However, there are downsides to consider. The biggest downside is that a house-buying company will make offers from cash buyers for your home, compared to selling on the market with an experienced real estate agent. Here are some other drawbacks:
Lower offers: Expect to receive an offer that is significantly less than what you might get on the open market.
Scams: Be cautious of potential scams and fraudulent buyers who might not have your best interests at heart.
Limited negotiation: These companies typically present take-it-or-leave-it offers, leaving little room for negotiation.
Emotional impact: Selling quickly might not give you the time you need to emotionally prepare for the sale.
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 Reading home quickly
When considering a quick sale for your Reading home, you have several options beyond house-buying companies. Here are two alternatives to explore.
iBuyers
iBuyers use automated valuation models (AVMs) to provide near-instant home value estimates. These models analyze market data for a mostly online sale experience, offering all-cash deals typically closer to market value. The iBuyer process is fast, from offer to closing in a few days to two weeks. However, companies like Opendoor and Offerpad often charge service fees of 5%-6%. They’re best suited for homes in good condition.
Listing with an agent
While it might seem counterintuitive for a quick sale, listing with a top real estate agent can still be a viable option. In a seller-friendly market, an agent can strategically price and market your home for a fast sale.
Consulting an agent provides you with a comparative market analysis (CMA), often free, which evaluates your home against recent sales in the area to determine an appropriate listing price. Agents may also connect you with buyers offering cash closer to market value. If you’re interested, HomeLight can connect you with a top-performing agent in your area.
FAQs on Reading house-buying companies
Are We Buy Houses for Cash companies legit or scams?
By and large, most We Buy Houses for Cash companies in Reading 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 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.
How much will We Buy Houses for Cash companies in Reading pay?
As described in our pros and cons list above, most Reading 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 Reading Ranch could sell for $210,000 after repairs, but it will need $10,000 of work to get there.
($210,000 x .70) – $10,000 = $137,000
In this example, a Reading We Buy Houses company might offer you around $137,000 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 Reading cost?
When you accept an offer from a Reading 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.
How do you sell a house for cash in Reading?
1. Research and vet the house-buying companies that serve your Reading area. Our list above is a good place to start.
2. Submit offer requests to a few of the companies you like best.
3. Schedule any required on-site property visits.
4. Compare offers. Weigh the pros and cons and choose the best option for you.
5. 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 Reading vs. top Reading 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 Reading
Sell with a top Realtor in Reading
Selling timeline
7 to 30 days
69 days average; 27 to attract an offer, 42 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 Reading is worth about $200,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $225,000.
Sell to a We Buy Houses for Cash company in Reading
Sell with a top Realtor in Reading
Estimated sale price
($225,000 x .70) – $25,000 = $132,500
$200,000
Market preparations
0
$2,000 (1% of sale price)
Agent commissions
0
$11,600 (5.8% of sale price)
Closing costs
0
$3,000 (1.5%)
Estimated take-home for seller
$132,500
$183,400
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
Fast transaction: Selling to a house-buying company offers a quick, hassle-free sale, often closing within a week.
No repairs: These companies buy homes in any condition, allowing you to avoid the cost and effort of repairs.
Certainty: Cash offers eliminate the uncertainty of buyer financing falling through.
Convenience: The company handles all the paperwork and logistics, making the process straightforward.
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 Reading agent.
Header Image Source: (clintonweaverphotos/ Depositphotos)
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.
Joseph Gordon
Editor
Joseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
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