A "We Buy Houses" company, like Broward Property Buyers Pro, is a real estate investment firm that specializes in purchasing properties directly from homeowners for cash, typically in as-is condition. These companies cater to sellers looking for a quick, hassle-free sale without the need for repairs, renovations, or traditional real estate listing processes.

Key characteristics of "We Buy Houses" companies include:

1. Cash offers: They provide all-cash offers, eliminating the need for mortgage approvals or financing contingencies.

2. Quick closings: These companies can often close deals in as little as 7-14 days, compared to the average 30-45 days for traditional sales.

3. As-is purchases: They buy properties in any condition, including those needing significant repairs or facing legal issues like foreclosure or liens.

4. No real estate agent fees: Sellers can avoid paying traditional real estate commissions, typically 5-6% of the sale price.

5. Simplified process: The sale process is streamlined, often requiring just a property assessment and offer negotiation.

6. Local market expertise: Many "We Buy Houses" companies have in-depth knowledge of local real estate markets, allowing for fair, competitive offers.

7. Flexible closing dates: These companies can often accommodate sellers' preferred timelines, whether they need to move quickly or prefer a delayed closing.

8. Solutions for challenging situations: They specialize in helping homeowners facing difficulties such as inheritance, divorce, or financial distress.

9. No staging or showings: Sellers can avoid the inconvenience of preparing their home for multiple viewings.

10. Guaranteed sale: Once an offer is accepted, sellers can be confident the sale will go through, unlike traditional buyers who may back out due to financing issues.

Key pros of selling to a "We Buy Houses" companies include:

1. Cash Offers: Homeowners can receive a cash offer within 24 to 48 hours after submitting property information and completing a home inspection.

2. As-Is Purchases: These companies buy homes without requiring any repairs or renovations, which is particularly appealing to homeowners with properties needing significant repairs or those facing financial difficulties.

3. Quick Closings: The closing process can be expedited, often taking place within 7 to 14 days, significantly faster than traditional sales.

4. Flexibility: Many "We Buy Houses" companies are willing to adapt to customers' unique situations and timelines.

5. Wide Property Acceptance: They purchase almost any type of residential property, including single-family homes, multi-family properties, rentals, and fix-and-flips.

6. Handling Difficult Situations: These companies often buy homes facing foreclosure, short sales, probate, or those with problem tenants.

Key cons of selling to a "We Buy Houses" companies include:

1. Low Offers: While "We Buy Houses" companies offer speed and convenience, it's important to note that many their offers are typically lower than market value, usually ranging from 50% to 70% of the home's fair market value. This is because they need to factor in repairs and closing costs their potential profit margins. We at Broward Property Buyers Pro do not feel that this type of calculation is a fair offer. When making repairs on a house, the seller can then add profit margin to those repairs so it is unfair to take the entirety of that cost out of an offer. We also feel it is unfair to advertise “no fees or closing costs” but then to factor those in to an offer. A fair cash offer should include profit margins on repairs and exclude any fees or costs associated with the sale in order to make a more competitive and transparent offer to the buyer.

2. Institutional Buyers and Franchises: The "We Buy Houses" brand is often franchised, leading to potential variability in service quality across different regions. However, reputable companies in this space, such as Broward Property Buyers Pro, strive to maintain high standards of professionalism and integrity. Please see our home page for more information on our values and practices.

3. Limited Negotiation: The efficiency of the process may limit room for negotiation on offers, which could be a disadvantage for sellers looking to maximize their return. For homeowners considering this option, it's advisable to compare offers from multiple buyers and understand their property's market value before making a decision.

"We Buy Houses" companies like Broward Property Buyers Pro are known for purchasing a wide range of properties in South Florida. Here's an overview of the types of properties these companies commonly buy:

1. Single-Family Homes: From beachfront properties in Fort Lauderdale to suburban homes in Coral Springs, we buy residential properties across Broward County.

2. Multi-Family Properties: We purchase duplexes, triplexes, and apartment buildings in areas like Hollywood and Pompano Beach, catering to the robust rental market in South Florida.

3. Rental Properties: Whether it's a vacation rental in Deerfield Beach or a long-term rental in Plantation, we buy properties with or without tenants.

4. Distressed Properties: We specialize in homes needing major repairs, including those damaged by hurricanes or flooding, common issues in our subtropical climate.

5. Foreclosure Properties: With Florida's history of foreclosure waves, we help homeowners in cities like Miramar and Sunrise avoid the foreclosure process.

6. Inherited Properties: We offer quick sales for inherited homes in established neighborhoods like Lauderdale-by-the-Sea or Lighthouse Point.

7. Properties in Difficult Situations: From homes with delinquent taxes in Tamarac to properties affected by divorce in Weston, we handle complex situations.

8. Uninhabitable Properties: We purchase severely damaged homes, including those affected by mold or termites, common issues in our humid climate.

9. Condos and Townhomes: Given the prevalence of these property types in South Florida, we frequently buy condos in areas like Hallandale Beach and Coconut Creek.

10. Waterfront Properties: We purchase homes on canals, lakes, and the Intracoastal Waterway, addressing unique challenges like sea-level rise and flood insurance.

A "We Buy Houses" company’s’ willingness to buy properties in virtually any condition—whether distressed, uninhabitable, or complicated by legal or financial challenges—makes them an appealing choice for those needing fast cash offers or facing urgent situations.

The "We Buy Houses" sector (ranging from large institutional buyers to smaller, local investors) is undeniably a legitimate part of the real estate market. This is demonstrated in its quickly expanding influence nationwide and in South Florida.

Especially in recent years, "We Buy Houses" companies have become more prominent in the real estate market, reflecting a broader trend toward cash sales. In 2022, approximately 30% of home purchases were all-cash transactions, a notable increase from around 20% in 2020. Part of this growth is driven by institutional buyers, including many "We Buy Houses" companies, which accounted for 6% of single-family home purchases in 2022.

While traditional home sales still dominate, making up about 70% of all transactions, cash offers are becoming increasingly common. In some competitive markets, cash offers can represent as much as 40-50% of all bids. Non-institutional "We Buy Houses" companies, which are part of the broader "iBuyer" (instant buyer) market, purchased approximately 70,400 homes in 2021, representing about 1% of all home purchases.

Though their overall market share remains smaller compared to traditional sales, the cash offer segment—including "We Buy Houses" companies—is growing faster, with a 10% increase in cash sales from 2020 to 2022. These companies play a significant role in the market due to their ability to close deals quickly and with fewer contingencies, which gives them a competitive edge in fast-moving markets and contributes to their legitimacy in the cash buying sector of the real estate market.

While “We Buy Houses” companies are overall legitimate, it is important to research and get to know any company you might be interested in working with. Make sure they are transparent with the offer and process and that their cash offer is fair and competitive.