Express Homebuyers Reviews: The Truth About Their Cash Offers

Express Homebuyers operates as a network of real estate investors who offer to purchase your property with cash within a 7-day timeframe. However, according to several Express Homebuyers reviews, they tend to present low cash offers, and these offers may even decrease further after the home inspection.

Alternatively, you can explore the option of listing your property on a cash buyer marketplace like Houzeo. The platform enables you to compare offers from multiple national and local cash buyers, allowing you to avoid accepting a single lowball offer.

What is Express Homebuyers?

Express Homebuyers is a cash home-buying company focused on acquiring properties, intending to renovate and resell them for a profit. Their main objective is to provide homeowners with a quick and efficient selling process.

Express Homebuyers is based on a franchise model. Each office of the company operates independently and is locally owned and managed. They claim to respond to your request for a cash offer within 7 minutes. This preliminary offer may reduce further after the home inspection.

Is Express Homebuyers Legit?

In 2003, Brad Chandler and Judd Allen co-founded Express Homebuyers. Their headquarters are based in Virginia.

According to information available on their website, the company has successfully acquired over 4000 homes since its establishment in 2003.

What Types of Houses Does Express Homebuyers Purchase?

Express Homebuyers specializes in dealing with various types of distressed properties:

• Inherited houses
• Properties requiring extensive repairs
• Rental properties with challenging tenants
• Homes facing foreclosure
• Homeowners in urgent need of relocation

Express Homebuyers may seem like an appealing solution for those feeling overwhelmed by their home-selling challenges. However, it’s essential to consider that this convenience may come at a cost, resulting in a substantial loss of money.

How Does Express HomeBuyers Work?

Receiving a cash offer from Express Home Buyers is a simple process:

1. Request a Free Consultation: Reach out by calling (877) 804-5252 or filling out an online inquiry form on expresshomebuyers.com. Provide the necessary details about your property and your contact information.
2. Get an Initial Cash Offer: A specialist from Express Homebuyers will get in touch with you to inquire about your house. Within a remarkably short span of 7 minutes, they will present you with a preliminary cash offer.
3. Arrange for an Inspection: If you accept their offer, a representative from the company will schedule a home inspection at a time that suits your convenience.
4. Receive a Final Cash Offer: Following the home inspection, you will receive a final offer that considers the estimated repair costs and the property’s current condition. The Express Homebuyers specialist will also guide you through the necessary paperwork and address any questions you may have.
5. Finalize the Deal: Express Home Buyers claims to be able to purchase your home within 7 days. However, they are willing to be flexible with their closing timelines to accommodate your needs.

Does Express Homebuyers Pay Market Value?

No, expresshomebuyers.com doesn’t pay market value. Typically, they provide a cash offer ranging from 50% to 70% of your home’s actual value.

The initial cash offer they present is based on the information you provide through the inquiry form. However, the final offer is contingent on the home inspection’s outcome. The assessment of your home takes various factors into account:

• Its current condition
• The time and expenses required for renovations and maintenance
• The real estate commissions involved in selling the property

🚩 Caution: Many sellers have expressed dissatisfaction with their final offers, which often fall well below the initial cash offers. Therefore, it is advisable to approach this cash buyer’s 7-minute offer with caution.

Express Homebuyers Reviews

Express Homebuyers has a 4.2-star rating on Google and Trustpilot, with 112 and 24 reviews, respectively.

The positive feedback highlights the company’s swift closing processes, the professionalism of their staff, and clear and open lines of communication.

However, some Express Homebuyers complaints focus on the disparities between their initial and final offers.

Advantages of Express Homebuyers

Let’s look at the benefits of using Express Homebuyers:

1. Simplified Process: Express Homebuyers takes care of essential tasks such as home inspection, documentation, and closing processes on behalf of the seller. This streamlined approach ensures a hassle-free experience when selling your home.
2. Swift Closing: Express Homebuyers offers a flexible closing timeline. So, you can move out of your home at your convenience.
3. No Closing Costs: Selling your home to this cash buyer means you won’t be burdened with seller closing costs.

Disadvantages of Express Homebuyers

The grievances expressed in customer reviews of Express Homebuyers reveal the following drawbacks of the company:

1. Lowball Cash Offers: This cash home buyer typically presents offers that are only 50% to 70% of your home’s actual value. So you end up leaving a lot of money on the table to facilitate a quick sale.
2. Reduced Final Offer: After conducting a home inspection, Express Homebuyers often decreases their initial cash offer further. The final amount you receive may fall well below your expectations.
3. Inconsistent Quality of Service: Express Homebuyers operates under a model where local real estate investors own and manage their offices independently. As a result, the company’s service quality can vary based on how your local investor handles the process.

Express Homebuyers Lawsuit

While all companies may have some flaws, certain entities take it further by adopting unethical practices, as was the case with Express Homebuyers.

In 2021, the company mailed mass letters to Washington D.C. homeowners, falsely claiming they were behind on their property taxes. However, numerous recipients of these letters had already paid their taxes.

The Attorney General of D.C. filed a complaint against the company, accusing them of employing “unlawful trade practices” to misrepresent the D.C. law on tax lien sales. Express Homebuyers utilized these deceptive letters to create a sense of urgency among homeowners, coercing them into choosing their services.

As a result of this case, in December 2022, the company agreed to pay $70,000 to the District to settle the matter.

Express Homebuyers Competitors

If you are seeking alternatives to ExpressHomebuyers.com for selling your house quickly for cash, consider the following options:

1. Houzeo: Houzeo is one of the top FSBO websites in America. They allow you to list your home on the MLS within 24 hours. Through Houzeo, you can receive offers from multiple national and local cash home buyers, leading to competitive prices for your property. Moreover, you have the potential to obtain 100% of your home’s fair market value (FMV).
2. Opendoor: As the largest iBuyer in America, Opendoor offers cash for homes requiring minimal repairs. While they typically pay 70% to 80% of your home’s FMV, they do deduct a 5% service fee, closing costs, and repair expenses from the offer.
3. HomeVestors: Operating as a cash home buyer franchise, HomeVestors extends offers ranging from 50% to 70% of your home’s FMV. However, they may deduct repair costs during the closing process.

Is Express Homebuyers Worth It?

We recommend using Houzeo over Express Homebuyers. Express Homebuyers typically offer only 50% to 70% of a property’s actual value, which can be significantly lower than what you expect. Their final offer may fall even further below the initial quote, leading to disappointment.

Alternatively, listing your property on the open market with Houzeo through the MLS can be a more lucrative option. You have the potential to receive up to 100% of your property’s fair market value (FMV), ensuring your expectations are met.

Additionally, Houzeo facilitates a quick selling process, with your listing appearing on the MLS within just 24 to 48 hours. This enables you to sell your home fast and on favorable terms.

Frequently Asked Questions about Express Home buyers

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