Are “We Buy Houses” Companies Legitimate?
Are "We Buy Houses" Companies a Rip-off or Legit Business?
Are "we buy houses" companies legitimate? This is a fair question for anyone considering selling their home for cash. You want to know: Is this we buy houses a scam or a legit opportunity? Will they actually buy your house, or are they just trying to lowball you and waste your time?
Here are the key questions Ontario homeowners ask us:
Can they actually buy your house (do they have the funds)?
Will they be honest and fair with their offer?
Will they give you a reasonable price for your property?
Are they real people in your community, or an out-of-province company?
The short answer: Most “we buy houses” companies are legitimate real estate businesses, but like any industry, there are bad actors. The key is knowing how to tell the difference between trustworthy cash buyers and potential rip-offs.
Here's some perspective: the traditional way of selling with a real estate agent also has risks. While there are many good realtors, there are also agents who don't have your best interest in mind. They might promise you a number you want to hear, but then can't deliver—or can only bring deals with multiple conditions like financing clauses, home inspections, conditional on their buyer's home selling, or possible closing date extensions.
The same applies to cash home buyers. Just like with realtors, there are good and bad operators. The difference? Legitimate "we buy houses" companies are typically local real estate investors or businesses run by people in your community—not scammers. At Lewis Brothers Properties, we're BBB-accredited with an A+ rating and have been buying houses in Ontario for over 17 years.
Good realtors work hard to get both seller and buyer a sensible deal. But here's what many homeowners don't realize: top dollar isn't always the only factor that matters. A qualified buyer who can actually close the deal—with cash, on your timeline, with no conditions—is often worth more than a higher offer that might fall through.
We Buy Houses Scam vs Legit: How to Tell the Difference
The same can be the case with “We Buy Houses” companies. A lot of the time, people associate these companies with a scam, or with people trying to rip off sellers. But just like with realtors - there are good and bad cash home buyers. Most of the “we buy houses” companies are legitimate real estate businesses run by people in your community.
What Legitimate "We Buy Houses" Companies Offer
When you work with a trustworthy cash home buyer like Lewis Brothers Properties, here's what you should expect:
Transparency: Clear explanations of how offers are calculated and what the process involves. We show you the numbers and explain our reasoning—no hidden formulas or vague estimates.
No Pressure: Time to review offers, consult with lawyers, and make informed decisions. We never use "today only" tactics or pressure you to sign immediately.
Proof of Capability: Bank letters or proof of funds showing they can actually purchase your home. We use our own private capital and can provide proof of funds upon request.
Local Presence: Real people in your community with verifiable track records. Rick and Don Lewis live and work in Durham Region and have been buying houses locally for over 17 years.
Fair Offers: Reasonable prices based on current market conditions and your property's condition. While we typically offer 70-80% of full retail value, this reflects the as-is purchase and eliminates your repair costs and commissions.
Flexibility: Work with your timeline and closing date preferences. Whether you need to close in 7 days or 3 months, we'll work with your schedule.
No Hidden Fees: No commissions, no surprise charges, no upfront costs. The offer we give you is what you get in your pocket—we even cover your lawyer fees.
If a "we buy houses" company can't offer these basics, keep looking. You deserve to work with legitimate professionals who respect your needs and timeline.
How to Verify a We Buy Houses Company
Should I Sell to a We Buy Houses Company?
This is the question every homeowner considering a cash offer asks: is selling to a cash buyer the right choice for my situation? The honest answer is: it depends.
Selling to a cash buyer like Lewis Brothers Properties isn't better or worse than listing with a realtor; it's different. Each option serves different needs, timelines, and property conditions. To help you decide, here's a side-by-side comparison of what you can expect from each approach:
Cash Buyer vs Realtor: Quick Comparison
| Factor | Cash Buyer (Lewis Brothers) | Realtor |
|---|---|---|
| Timeline | 7-14 days | 60-90+ days |
| Repairs Needed | None - buy as-is | $20,000-$50,000+ |
| Fees/Commissions | $0 (we cover closing costs) | 5% commission + legal fees |
| Closing Certainty | Guaranteed (cash purchase) | 30-40% fall through |
| Best For | Quick sales, fixer-uppers, foreclosure | Move-in ready homes, patient sellers |
REAL EXAMPLE CALCULATION
Example: $500,000 Home Needing Repairs
Let's compare the proceeds from each option on an example Oshawa home:
📊 SCENARIO: Your home has a retail value of $500,000 in perfect condition, but needs $40,000 in repairs (roof, kitchen, bathrooms) to meet that standard.
Option 1: Listing with a Realtor
| Item | Cost |
|---|---|
| Sale Price (after 60 days on market) | $500,000 |
| Less: Repairs needed to sell | -$40,000 |
| Less: Realtor commission (5%) | -$25,000 |
| Less: Lawyer fees | -$2,000 |
| Less: Staging costs | -$3,000 |
| NET PROCEEDS | $430,000 |
| Time to close: | 60-90 days |
| Stress level: | High |
Option 2: Selling to Lewis Brothers Properties
| Item | Cost |
|---|---|
| Cash Offer (as-is condition) | $420,000 |
| Less: Repairs needed | $0 |
| Less: Commission/fees | $0 |
| Less: Lawyer fees (we cover) | $0 |
| Less: Staging | $0 |
| NET PROCEEDS | $420,000 |
| Time to close: | As little as 7-14 days |
| Stress level: | Low |
The Difference: In this scenario, you net approximately the same amount ($420,000 vs $430,000), but with a cash buyer you can:
Close 60-75 days faster
Avoid $40,000 in repair costs and contractor hassles
Eliminate endless showings and staging stress
Have a guaranteed closing (no financing fall-through risk)
Choose your own closing date
The bottom line: If your home needs significant work, the cash buyer route can net similar proceeds with dramatically less time, cost, and stress.
Table Notes/Disclaimers:
Based on typical Ontario real estate transactions in Durham Region, 2024-2025. Actual timelines, costs, and proceeds vary by property condition, location, and market conditions. Realtor commission rates vary but 5% is standard in Ontario. Repair costs based on average renovations needed for homes requiring work before listing.
Questions to Ask Before Selling
-
About Their Business:
How long have you been buying houses in Ontario?
Can you provide your business registration number?
Do you have a BBB rating I can check?
Can you provide references from recent sellers?
-
How do you fund your purchases—cash, financing, or private capital?
Can you provide a proof of funds letter?
Have you ever failed to close on a purchase you committed to?
-
How did you calculate this offer?
Are there any fees I'll be responsible for?
Can this offer change before closing?
Will you cover my lawyer fees?
-
How quickly can you close?
Can I choose my closing date?
What happens if I change my mind before closing?
Do you encourage me to have a lawyer review the contract?
Our Credentials & Track Record
BBB A+ Rating – Accredited business with proven ethical practices
17 Years Experience – Buying Ontario homes since 2008
200+ Homes Purchased – Trusted by hundreds of satisfied sellers
Local Owners – Rick and Don Lewis live in Durham Region
100% Closing Rate – Never failed to close a committed purchase
Cash Funding – Close in 7-14 days with no financing contingencies
Why Lewis Brothers Properties is a Legitimate Cash Buyer in Ontario
We understand why homeowners ask "are we buy houses companies legitimate?"—you're being cautious, and you should be. After reading about scams and red flags, you deserve to know why Lewis Brothers Properties is different and how we've built our reputation as a trusted cash buyer in Ontario.
Here's what sets us apart from other cash buyers and why hundreds of Ontario homeowners have trusted us with their home sales:
Ready to Get Your Fair Cash Offer?
So, are we buy houses companies legitimate? Yes—when you choose reputable, local buyers like Lewis Brothers Properties. We're BBB-accredited with an A+ rating and over 17 years of experience helping Ontario homeowners sell quickly and fairly. If you're in Durham Region, York Region, or Simcoe County and need to sell your house fast, call Rick or Don Lewis at 905-260-9779 for a no-obligation consultation. We'll answer your questions honestly, explain our process clea,rly, and provide a fair cash offer within 24 hours—no pressure, no fees, no hassle.
