Mortgage rates have been rising in 2023 currently at an average of 6.67%, thus putting off buyers. Hence, it’s no surprise that sellers flock to cash home buyers in New York to offload their properties.
Home sellers flock to cash house buyers in New York for their instant offers and quick sales.
So, if you are strapped for cash and need to sell your home fast, consider a company offering quick cash for houses.
- In April 2023, compared to a year before, the median of current home sale has decreased by 1.7%.
- iBuyers are declining, and there are also predictions of top iBuyers like Opendoor going bankrupt.
- Opting for cash marketplaces like Houzeo can even get you more than one offer. You can also opt for cash companies like Express Homebuyers or I Buy Houses.
Let’s look at the best companies that buy houses for cash in America.
Rankings: 7 Companies That Buy Houses for Cash in New York
|Cash Home Buyers||Service Fee||100% Online||5-Star Reviews||Mobile App|
|2. Opendoor||6% of Sale Price||⛔||⛔||✅|
|3. Offerpad||6% of Sale Price||⛔||⛔||✅|
|4. ASAP Cash Home Buyers||None||⛔||⛔||⛔|
|5. I Buy Houses||None||⛔||⛔||⛔|
|6. Express Homebuyers||None||⛔||⛔||⛔|
|7. Sell Now Home Buyers||None||⛔||⛔||⛔|
Reviews: 7 Companies That Buy Houses for Cash in New York
1. Houzeo.com: Maximum Exposure to Cash Buyers
Houzeo is a 100% online FSBO website. You can list on MLS within 12 business hours. Houzeo’s advanced tech helps you manage your listing, offers, showings, inspections, and closings. It has a 4.9 out of 5 ratings.
Houzeo offers affordable FSBO MLS listing packages:
- Bronze – $329+: This package offers Houzeo listing only for 6 months with maximum photos.
- Silver – $399+: This plan includes everything offered in the Bronze package. Additionally, you can make unlimited listing changes, get a custom yard sign, and access Houzeo Showings and Houzeo Offers.
- Gold – $379+ 0.5% at Closing: This plan includes everything offered in the Silver plan. You also get federal and state disclosures, a personal concierge, call forwarding, and more. It is Houzeo’s most advanced package.
- Platinum – $349+ 1% at Closing: This is the ultimate plan with a 1-year listing term and virtual full-service from a licensed broker who’ll help you until closing.
👉 Our Recommendation: We recommend the GOLD plan. You’ll have access to Houzeo tech, making managing showings and offer negotiations easy! Confirm all prices on the state’s pricing page before you list.
Houzeo is the best For Sale By Owner website in the U.S., and here’s why:
- 100% Online: Houzeo is tech-centric. For you, this means easy listings, fast changes, online showings, and online offers. Houzeo Mobile App is also very powerful.
- Maximum Exposure: Your listing gets syndicated to 100+ real estate websites like Zillow and Trulia. This ensures maximum visibility for your FSBO property.
- Maximum Savings: With Houzeo, you save at least 3% on listing agent commissions. The company discloses all costs upfront, so there are no Houzeo hidden fees.
- Stellar Customer Review: Houzeo is rated “Excellent” with a 4.9 out of 5-star rating by 5,112 home sellers on Google Reviews and Trustpilot!
- Nationwide Coverage: Houzeo covers 47 states and DC.
Houzeo’s services are limited in Wyoming, South Dakota, and West Virginia. This means your listings may not get updated in 12 hours and may not get maximum exposure.
» Houzeo Complaints: Find out if there are any serious complaints about Houzeo.
Opendoor is America’s best and largest iBuyer based out of San Francisco. Opendoor has been in business since 2014 and they offer instant cash for homes.
- Fees: 5% of Home Sale Price.
- Offer: 90% to 100% of the property’s Fair Market Value (FMV).
- Property Type: Only on owner-occupied properties built post-1930 with a maximum lot size of 1.5 to 2 acres.
- Terms: Upto 45 days out.
👉 We Recommend: Opendoor is a reputed iBuyer company, however their final cash offer is calculated after deducting closing costs, typically 6% to 13%.
- Advanced Technology: Opendoor offers the best UI experience for users.
- Fast Cash Offers: They give a preliminary cash offer within 24 hours.
- Good Coverage: They offer services in 51 markets including top cities like Boston, San Francisco, and Birmingham.
- No Cancelation Fees: You can cancel at any time without the worry of being charged a fee.
» Pros and Cons of Opendoor: Check out our detailed pros and cons list on Opendoor.
- Closing Costs: You will have to pay closing costs, typically 6% to 13%.
- Additional Charges: They also have a hefty service fee of up to 14% of the sale price.
- Strict Criteria: They have very strict rules of buying and will sometimes even back out of the deal at last minute.
Offerpad has been in business since 2017 and has bought, sold, and renovated nearly 10,000 houses. Offerpad has a team of experienced professionals and advanced technology to help homeowners sell their houses quickly for cash.
- Fees: 6% of Home Sale Price.
- Offer: 80% to 100% of the property’s Fair Market Value (FMV).
- Property Type: Only house built after 1960, with a maximum lot size of 1 acre and a max valuation of up to 1M.
- Terms: The closing can be done in less than 10 days.
👉 We Recommend: Offerpad is a good option as an iBuyer. However, their final cash offer is calculated after deducting closing costs, typically 6% to 13%.
- Sell As-Is: Offerpad buys houses in as-is condition, you do not even have to stage your home.
- Additional Options: You can even choose to stay long-term if you make a deal with them.
- Good Coverage: Offerpad buys houses for cash in 21+ markets across 16 states, including Alabama, Florida, Georgia, and Texas.
» Pros and Cons of Offerpad: Check out this detailed pros and cons of Offerpad.
- Cancelation Fees: There is a 1% cancellation fee if you back out of the deal after accepting.
- Closing costs: Offerpad service fees (5%), plus deduction for repairs, typically 1% to 7%.
- Lowball Cash Offers: The closing costs and service fees can add up to more than 10% of the purchase price in some situations, resulting in a lower cash offer than expected.
4. ASAP Cash Home Buyers
ASAP Cash Home Buyers is a nationwide cash home buyer in business since 2013. They are reliable and even buy houses with tenants.
- Fees: No fees.
- Offer: 50% to 70% of Fair Market Value (FMV).
- Property Type: They buy distressed properties with structural issues, couples going through a divorce, a death in the family, bad mortgage financing, pending foreclosure, high-crime neighborhoods, etc.
- Terms: They close in as little as 3 weeks or at any date of your convenience.
👉 We Recommend: ASAP Cash Home Buyers is a good option for any looking to sell their house fast. However, only except lowball cash offers.
- Nationwide Coverage: ASAP Cash Home Buyers are available in all the states, including Florida, Georgia, and Illinois.
- Sell with Tenants: You can sell your house to ASAP Cash Home Buyers even with tenants living in them. They will buy your house as-is.
- No Additional Costs: You do not have to pay any additional costs, they even give you legal references.
» Pros and Cons of ASAP Cash Home Buyers: Check out our detailed pros and cons list on ASAP Cash Home Buyers.
- Inconsistent Service Quality: They are more of an investor’s network and the quality of service you receive depends mainly on the individual investor you approach.
- Lowball Cash Offers: They may put in lowball cash offers of around 50% to 70% of the fair market value. This is lower than what you can get on the open market.
5. I Buy Houses
I Buy Houses is a diverse investor network, that has assisted homeowners to sell their homes as-is for over 30 years. I Buy Houses connects homeowners with their network of investors. They act as an “intermediary,” distributing your data to their investor network subscribers.
- Fees: No fees.
- Offer: 50% to 70% of the property’s Fair Market Value (FMV).
- Property Type: Distressed properties, pending foreclosure, structural damage, large house, inherited houses, etc.
- Terms: Uncertain; solely dependent on the investor.
👉 We Recommend: “I Buy Houses” is an investor network of cash home buyers. The sale depends on the investors, they might even back out mid sale.
- Network Chain: They help home sellers connect with local real estate investors, giving you multiple options.
- Sell As-Is: You can sell your property as is without the worry of renovations or repairs.
- Quick Offers: You will get a non-obligatory offer in as little as 24 hours.
- Closing Costs: Though “I Buy Houses” doesn’t have any service fees, you have to pay the closing costs. It could be anywhere between 6% to 11% of the home sale price.
- No Credible Reviews: “I Buy Houses” has no credible reviews on any trusted platform.
- Unreliable Offer: There is no guarantee that you will receive a cash offer from the investor you connect with.
- No Safety of Information Shared: The company has no rules to safeguard your information or govern how transactions are conducted.
No credible reviews were found.
6. Express Homebuyers
Express Homebuyers is a well-known company based in Virginia that buys houses for cash. They have been buying houses since 2003 and have provided fair cash offers to over 4,000 homeowners.
- Fees: No Fees.
- Offer: 50% to 70% of the property’s Fair Market Value (FMV).
- Property Type: Distressed properties, houses facing foreclosure, couples going through a divorce, high crime neighborhoods, etc.
- Terms: Flexible homes close within 7 to 30 days.
👉 We Recommend: Express Homebuyers is a quick and easy option for home sellers. However, if you can put in some time and effort we suggest you list on the MLS.
- Fast Cash Offers: You get a free, no-obligation offer within 24 hours for damaged properties as well.
- Sell As-Is: Express Homebuyers buys houses in as-is condition.
- Nationwide Coverage: They are available nationwide.
- No Additional Costs: “Express Homebuyers ” doesn’t have any service fees and even covers closing costs.
» Pros and Cons of Express Homebuyers: Check out our detailed pros and cons list on Express Homebuyers.
- Lowball Cash Offers: Express Homebuyers offer absurdly low-ball offers for ugly houses. When compared to fair market value you are better off with listing on the MLS.
- Poor Customer Support: There were complaints from previous clients stating poor communication and half-hearted responses.
7. Sell Now Home Buyers
Sell Now Home Buyers is a cash buyer in NY for the past 20 years. This company has a network of investors from Albany to Long Island.
- Fees: No fees
- Offer: 50% to 70% of Fair Market Value (FMV)
- Property Type: It buys distressed properties with structural issues, tenants problems, inherited properties,
- Terms: You get a flexible closing period of up to 30 days.
👉 We recommend: Sell Now Home Buyers buy your properties as is and help you to sell your house fast.
- Quick Offer: You can expect an offer within 24 to 48 business hours.
- Buying: It buys your house in bad condition or avoids foreclosures.
- Sell As-is: Sell Now Home Buyers acquire your house in as-is condition, without bothering you with repair expenses.
» Pros and Cons of Sell Now Home Buyers: Check out our detailed pros and cons of Sell Now Home Buyers.
Cash Home Buyers in New York: Pros & Cons
Besides the speedy process, the convenient approach is another reason you can opt for cash buyers. Let us look at some of the pros and cons of selling to a home cash buyer.
- Quick Sale: In the conventional home sale process you have to go through a home appraisal among other steps. But with cash home buyers, you can get an offer in just one day.
- No Hidden Costs: “We Buy Homes for Cash” companies don’t have any upfront costs. You can sell your house as-is without much delay.
- Flexible Closing: Without the wait for mortgage preapprovals and listing paperwork you can close at your own pace.
- Non-Negotiable Deals: The preliminary offers they make are usually final. Most cash buyers do not even hire home inspectors, hence they might not budge from their offer.
- Lowball Cash Offers: They deduct repair costs and utility expenses. The final offer is usually only 50% to 70% of the actual fair market value of the house.
- You May Have to Pay Closing Costs: Some cash house-buying companies may make you pay the closing costs though not mentioned on their site.
Should I Sell to a Company That Buys Houses for Cash in New York?
Yes, especially if you are on a severely tight timeline, have inherited property, are in need of urgent cash, or want to get rid of a distressed property.
However, if you’re simply looking for an all-cash offer and can hang in there, then listing on the MLS would be ideal.
Nationwide cash home buyers are hunting for properties on the MLS. This increases the chances of getting a competitive cash offer while marketing the property to multiple buyers simultaneously.
With a technologically advanced platform like Houzeo.com, you can start your listing process on any device and finish all the paperwork seamlessly.
Cash Home Buyers in New York
|1. Long Island, NY||Cash Home Buyers in Long Island, NY|
|2. New York City, NY||Cash Home Buyers in New York City, NY|
|3. Brooklyn, NY||Cash Home Buyers in Brooklyn, NY|
|4. Buffalo, NY||Cash Home Buyers in Buffalo, NY|
|5. Rochester, NY||Cash Home Buyers in Rochester, NY|
1. How does the process of selling my house for cash in New York work?
Typically, cash house buying companies in New York offer a streamlined process where they assess your property, make a fair cash offer, handle the paperwork, and close the deal quickly, often within a few days.
2. Are there any fees or commissions involved when selling my house for cash?
Reputable cash house buying companies in New York typically do not charge any fees or commissions. They make a straightforward cash offer, and if you accept it, they handle the transaction without any additional costs to you.
3. Can I sell my house for cash in New York even if it needs repairs or is in poor condition?
Absolutely! Cash house buyers in New York specialize in purchasing houses in any condition. They are willing to buy properties as-is, so you don't need to worry about making any repairs or renovations before selling.