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 Tennessee to offload their properties.
Home sellers flock to cash house buyers in Tennessee 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 We Buy Houses or New Horizon Home Buyers.
Let’s look at the best companies that buy houses for cash in America.
Rankings: 7 Companies That Buy Houses for Cash in Tennessee
|Cash Home Buyers||Service Fee||100% Online||5-Star Reviews||Mobile App|
|2. Opendoor||5% of Sale Price||⛔||⛔||✅|
|3. We Buy Houses||None||⛔||⛔||⛔|
|4. Express Homebuyers||None||⛔||⛔||⛔|
|5. We Buy Ugly Houses||None||⛔||⛔||⛔|
|6. ASAP Cash Home Buyers||None||⛔||⛔||⛔|
|7. New Horizon Home Buyers||None||✅||⛔||✅|
Reviews: 7 Companies That Buy Houses for Cash in Tennessee
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.
3. We Buy Houses
We Buy Houses is a national cash home buyer with more than 20 years of experience. They are present in over 200 markets across more than 30 states in the United States.
- Fees: No fees.
- Offer: 50% to 70% of Fair Market Value (FMV).
- Property Type: Distressed properties with structural issues, mold, flood affected, etc.
- Terms: Flexible home closing anywhere between 7 to 60 days.
👉 We Recommend: We Buy Houses is a good option for sellers looking to sell their house fast. However, they lack credible reviews and you cannot predict how the service will be.
- Fast Cash Offers: You will get a cash offer within 24-48 hours.
- Quick Closing: Closing can be done in just 7 days.
- Nationwide Coverage: “We Buy Houses” operates in 49 states with 2,700 offices nationwide.
- No Additional Costs: “We Buy Houses” doesn’t have any service fees and they also cover closing costs.
» Pros and Cons of “We Buy Houses”: Check out our detailed pros and cons list on “We Buy Houses”.
- Non-negotiable Offers: Once an offer has been made, there is little to no space for negotiation.
- Lowball Cash Offers: They extend offers that are just 50% to 70% of the property’s Fair Market Value.
- No Credible Reviews: “We Buy Houses” does not have any reviews on any credible platforms.
No credible ratings were found.
» We Buy Houses vs. Houzeo: Learn more from a detailed comparison of the two.
4. 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.
5. We Buy Ugly Houses
“We Buy Ugly Houses” is a cash home buyer that purchases houses in any condition. They are owned by Homevestors and they are in business for the last 20 years.
- 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, inherited houses, high-crime neighborhoods, etc.
- Terms: Flexible; homes close within 7 to 60 days.
👉 We Recommend: If you do not expect more than 70% of your property’s market value, this is a great option for you!
- Fast Offers: You can get a cash offer within 24 to 48 hours.
- Quick Closing: You can close in as little as three weeks.
- Sell As-Is: “We Buy Ugly Houses” buys houses in as-is condition, you do not have to worry about repairs.
- Nationwide Coverage: “We Buy Ugly Houses” operates nationwide in 1,100 locations in 45 states.
- No Hidden Costs: There are no service fees and they even cover closing costs.
» Pros and Cons of “We Buy Ugly Houses”: Check out our detailed pros and cons list on “We Buy Ugly Houses”.
- Lowball Cash Offers: You might only get offers around 50% to 70% of the property’s fair market value.
- Inconsistent Service Quality: “We Buy Ugly Houses” is a franchise, hence the quality of service you will receive is entirely region based. We suggest you should do a thorough check on the investor you find before selling to them.
6. 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.
7. New Horizon Home Buyers
New Horizon Home Buyers are popular cash house buyers based in Chattanooga, TN. They primarily focus on providing fair offers and guidance throughout the selling process.
- Fee: None
- Offer: 50% to 70% of Fair Market Value (FMV)
- Property Types: Distressed properties with structural damage, inherited properties, tenant problems, code violations, etc.
- Terms: New Horizon Home Buyers give a 7 to 30-day closing timeline.
👉 Our Take: New Horizon Home Buyers is a good option for home sellers looking for a trusted cash buyer. However, they have very limited coverage.
- Fast Cash Offer: Get an offer in approximately 24 to 48 hours.
- No Renovation or Repair Costs: New Horizon Home Buyers purchase houses as-is. You do not need to repair your house before the sale.
- No Additional Charges: You do not have to pay extra cash, they even cover your closing costs.
» Pros and Cons of New Horizon Home Buyers: Check out our detailed pros and cons list on New Horizon Home Buyers.
Here are some dealbreakers of New Horizon Home Buyers that we came across in our research:
- Non-negotiable Offer: New Horizon Home Buyers will not offer more than 70% of your property’s fair market value. After a thorough home inspection, they quote an offer based on the after-repair value.
- Limited Coverage: They provide services only in selected states such as Georgia, Tennessee, Arkansas, Alabama, and Louisiana.
Cash Home Buyers in Tennessee: 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 Tennessee?
Yes, especially if you are on a severely tight timeline, have inherited property, 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 Tennessee
|1. Knoxville, TN||Cash Home Buyers in Knoxville, TN|
|2. Memphis, TN||Cash Home Buyers in Memphis, TN|
|3. Nashville, TN||Cash Home Buyers in Nashville, TN|
1. How does the process of selling my house for cash in Tennessee work?
Typically, cash house buying companies in Tennessee 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 Tennessee 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 Tennessee even if it needs repairs or is in poor condition?
Absolutely! Cash house buyers in Tennessee 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.