We Buy Any House offers a fast-paced alternative to traditional on-market sales. They’re typically able to close within weeks, and are a good choice for homeowners who can’t afford to wait for a buyer. However, these companies are ripe for scams, so it’s crucial to perform your due diligence before signing any contracts.

The we-buy-any-house process is simple: the we buy any house will make an offer after assessing your property in person. This is different from online services that assess a home’s value using algorithms. After a visit, the company will provide you with a cash offer. You can accept or decline the offer.

There are a number of national we-buy-any-house companies, but local homebuyers might have a more personal touch and know the neighborhood better. There are also iBuyers, such as Opendoor and Offerpad, which operate digitally and can typically make you an offer in 24 hours.

We Buy Houses Near You: How Cash Buyers Speed Up the Process

These companies are akin to real estate investment firms: they purchase properties, improve them and sell them on the market or convert them to rental units. They’re often used to address difficult scenarios like foreclosure, divorce, moving, inherited properties, owing taxes or facing a home repair that you can’t afford.

Typically, the company will buy your home at 30%-70% of its fair market value. This is because they are for-profit house-flipping ventures that need to turn a profit on each sale. They’re also likely to charge you a service fee that’s comparable to a real estate agent’s commission.