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Thinking about selling your Oregon home? If you go the traditional route, listing it with a real estate agent, you’re likely to wait around a month before you find a buyer. Redfin data from April 2024 shows that Oregon homes tend to spend 28 days on the market before going into contract — after which you have to wait some more for your buyer’s financing to come through.
But a traditional sale is not your only option. If you’d like to move things along faster, you might consider one of the many Beaver State businesses that buy houses for cash. These companies stand out in the market for buying directly from the homeowner, typically in as-is condition with no sprucing up needed. And they can close the deal in a matter of a couple weeks, or sometimes even less. The tradeoff? You’ll likely fetch a lower price than if you had listed and sold your home the traditional way. Here’s what to know about companies that buy houses in Oregon.
How do ‘we buy houses’ companies work?
Each of these companies operates according to its own set of rules, but they generally follow a similar procedure:
- You reach out to the company you’d like to work with, either by phone or online, and provide some basic information about the home.
- After a swift assessment of your property, which might be done virtually or in person, you’ll receive a cash offer — usually within a day or two, sometimes on-the-spot.
- You are not obligated to accept the offer. But if you do, carefully review all paperwork and make sure you understand every detail before signing anything. And don’t spend too much time deliberating, as the offer will likely expire within a few days.
- Then, you proceed to closing. Most companies allow you to choose a closing date that works for you, within certain parameters, and can expedite closings to move as quickly as possible if that’s what you need. Some can close the whole deal within a week.
These outfits position themselves as a faster and less complicated alternative to the traditional real estate agent process. Typically, they do not charge any fees, cover all closing costs and buy homes “as is,” regardless of what condition the property might be in. This is appealing to individuals whose homes are in need of serious repair or simply have no time to spare.
The business model of cash-homebuying firms is usually to flip houses for a profit, buying low then renovating and reselling. Although the process is much faster than a traditional agent-assisted sale, there’s a trade-off: You’ll likely receive a lower amount than you would on the conventional market. These companies operate within narrow profit margins, limiting their ability to offer top-of-market prices.
Types of companies that buy houses in Oregon for cash
Eager to work with an Oregon “we buy houses” business? The good news is you have several choices to pick from. Opendoor, one of the country’s biggest iBuyers, also operates in the Portland area.
National options
Two of the country’s biggest homebuying franchises, We Buy Houses and HomeVestors (sometimes known as “We Buy Ugly Houses”), operate in Oregon. Both will send a representative to evaluate your property in-person before making you a no-obligation cash offer, and if you accept, both can close within a few weeks (or sooner). Keep in mind that, despite being big national operations, each local franchise is different — and none are likely to offer you top dollar.
Local options
There are plenty of smaller, locally based “we buy houses” companies in Oregon too, including:
- PDX Renovations: A family-owned, Portland-based company that has completed more than 3,000 transactions in the area since 2006.
- We Buy Oregon Houses: This operation is based in Bend but buys homes throughout the entire state. They guarantee a cash offer in 24 hours and say they can close within seven days.
- Oregon Cash Home Buyers: This company buys homes anywhere in Oregon, including mobile homes in many areas. If you don’t want to go with their cash offer, they can help you list the property on the local MLS as well.
- Moon Creek Homes: Owned by a Portland-based husband-and-wife team, this outfit makes offers within 24 hours of touring your home and can close within a few days.
Alternatives
If you aren’t sure whether a “we buy houses” company in Oregon is right for you, there are other options available:
- Hire an agent: Using a real estate agent won’t be as lightning-fast as a cash-homebuyer sale, but a knowledgeable local agent will know ways to keep the process moving along at a clip. And selling your house with an agent is your best bet if earning top-dollar is more important to you than speed.
- Sell by owner: Pursuing a for-sale-by-owner (or FSBO) sale means taking a DIY, hands-on approach — everything an agent would normally do, you do yourself. This saves you the cost of a listing agent’s commission, but it is a lot of work. And with hundreds of thousands of dollars at stake, a mistake can be costly.
- Rent it out instead: Don’t need the proceeds of a sale right away? Consider becoming a landlord and securing tenants instead. This can be lucrative: The median rent on a house in Oregon is $2,500 per month, according to Zillow Rental Manager.
Next steps
Take the time to thoroughly assess both the benefits and drawbacks before committing to any “we buy houses” company. It could well be a good option if speed is of the essence, if you need the cash ASAP or if the home needs more repairs than you are willing or able to put into it. To go this route, the first step is simply to reach out to a few companies and see which one can offer you the best price. However, if you’d rather make more money on your sale than sell as fast as possible, your next step would be to reach out to local real estate agents in your area.
FAQs
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Yes. You’re not legally required to hire a real estate agent to sell your Oregon home. To sell without one, you can opt for a “for sale by owner” listing, in which you do the work of an agent yourself. Or, you could sell directly to a homebuying company or an iBuyer. Both types of businesses buy directly from homeowners with no agent involved.
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Yes, most “we buy houses” companies and cash-homebuying outfits are legitimate real estate businesses. However, as in any industry, some operators may employ questionable business practices and even scams. Before engaging in any transaction, conduct thorough research on the company’s history, reputation, online reviews and Better Business Bureau rating. And read all paperwork very thoroughly before signing anything.
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