In Q2 2024, over 30% of US homes sold for cash. A cash sale means no repairs, no delays, and a quick 7-14 day closing. No wonder New York City homeowners ditch repairs and choose cash buyers for a hassle-free sale!
But here’s a downside! Cash buyers offer just 30% to 70% of your home’s Fair Market Value. Don’t stress—just enter a cash buyer marketplace. Here you can receive offers that can reach up to 100% of your home’s value!
Reviews: 5 Top Cash Home Buyers in NYC
1. Houzeo.com: New York City’s #1 Cash Home Buyer Marketplace
MAX EXPOSURE TO CASH BUYERS
Listing Fee: $199Houzeo is the best option if you’re looking for multiple cash offers. Your MLS listing will be exposed to local and national cash buyers, increasing the number of offers you receive.
- Pricing:
- Silver Plan – $199: 6-month MLS listing, 24 photos.
- Gold Plan – $249: Maximum photos, contract review, seller disclosures, licensed broker assistance.
- Platinum Plan – $299: Everything in Gold with a 12 month listing and virtual full-service with licensed broker.
» Houzeo Reviews: Find out why Houzeo is one of America’s best cash buyer marketplaces.
Houzeo is America’s #1 cash buyer marketplace because of 5 reasons:
- Max Exposure: Houzeo’s packages give you access to the MLS and 100s of websites like Zillow, Realtor.com, Redfin, etc.
- 5-Star Customer Service: Houzeo’s customer service desk is available 6 days a week. Chats and emails are open 7 days a week.
- 100% Online: Houzeo is high-tech. For you, this means easy listing, fast changes, online showings, and online offers.
- No Listing Commission: You’ll pay just a small flat fee to list on MLS. You get to bypass the 3% listing agent commission!
There are no dealbreakers with Houzeo.
» Houzeo Pros and Cons: Read the advantages and disadvantages of choosing Houzeo to sell your home for cash.
Houzeo is rated 4.9 out of 5 stars by thousands of home sellers on Google & Trustpilot.
With Houzeo, you can connect with New York City’s best cash home-buying companies and individual investors. You can also get multiple competitive offers for your home. This increased exposure helps you get maximum profit.
2. Leave the Key Home Buyers
POPULAR CASH HOME BUYER
Service Fee: NoneLeave the Key Home Buyers is a family-owned company, they are flexible in terms of their inspection process. They also provide flexible closing dates, so you can move out at your convenience.
- Typical Offer: You may be offered 50% to 70% of the Fair Market Value (FMV).
- Eligible Properties: Properties with structural issues, disclosure issues, bad mortgage financing, inherited houses, etc.
- Closing Offer Terms: Leave the Key Home Buyers lets you pick a date of your convenience.
- Service Fee: None.
Here are some of the benefits that you get with Leave the Key Home Buyers:
- Flexible Inspection: You can send the company pictures of your home, or opt for an in-person review.
- Quick Closing: You can close in as little as three weeks.
- Sell As-Is: You can avoid the hassle of making repairs and sell your house as-is.
- No Hidden Fees: There are no extra charges or closing costs.
- Additional Contacts: You can use the services of their affiliate company to carry out the title search process. You might be required to pay a small amount for the same.
In our research, we have found certain drawbacks of Leave the Key Home Buyers:
- Limited Coverage: Leave the Key Home Buyers purchases houses for cash in select areas of NY, such as Long Island, Suffolk County, Nassau County, Queens, Albany, Binghamton, Buffalo and Brooklyn.
- Low ball Cash Offers: Leave the Key Home Buyers will not offer you more than 70% of your property’s Fair Market Value.
- No room for negotiation: They rarely increase the price quoted in the initial cash offer.
Leave the Key Home Buyers has 5 out of 5 stars rating from 50+ reviews on Google Reviews.
Leave the Key Home Buyers is a family-owned local cash home buyer in New York City. They buy homes as is, allowing you to offload your distressed property easily. However, they will extend a non-negotiable offer that is much less than the fair market value.
3. We Buy Ugly Houses
NATIONWIDE COVERAGE
Service Fee: NoneWe Buy Ugly Houses is a well-known cash home-buying company that helps homeowners sell their properties in any condition. It offers a fast, hassle-free sale without the need for repairs or staging.
- Typical Offer: 50% to 70% of your property’s Fair Market Value.
- No Closing Costs: You don’t have to pay any seller closing costs; it is covered by the company.
- Eligible Properties: Distressed properties with structural issues, homeowners facing relocation, homes with flawed mortgage financing, inherited homes, homes in high-crime neighborhoods, etc.
- Service Fee: None.
Here are some of the benefits that you get with We Buy Ugly Houses:
- Sell Your Home As Is: You can sell your distressed home and skip repair costs, which helps your save thousands.
- Quick Closing Timeline: Once you accept the offer, you can sell your house within 2 weeks.
- Save on Closing Costs: When you sell your house for cash, you don’t incur upfront costs to fix, prepare, or stage your house. They take care of the closing costs themselves.
In our research, we have found certain drawbacks of We Buy Ugly Houses:
- Lowball Offers: Cash offers typically range from 50% to 70% of a home’s Fair Market Value, based on its condition and location.
- Limited Negotiation: We Buy Ugly Houses extends “take-it-or-leave-it” offers. You can try to negotiate, but usually, they won’t budge.
- Not Ideal for High-Value Homes: This option may not be best for homes in high-demand areas where you could get more by listing on the MLS.
- Inconsistent Service Quality: Your experience may vary depending on how your local investor handles the sale.
We Buy Ugly Houses is rated 4.9 out of 5 stars from 90+ reviews on Google.
» We Buy Ugly Houses Reviews: Want to know more? Dive into our detailed review!
We Buy Ugly Houses operates as a franchise under its parent company, HomeVestors. Each franchisee is independently owned and operated. This leads to variations in service quality and customer experience across different locations nationwide.
Further, if your home requires extensive repairs, you may just 30% to 50% of your home’s fair market value.
4. Sell Now Home Buyers
LOCAL CASH HOME BUYER
Service Fee: NoneSell Now Homebuyers focus on providing cash offers to simplify transactions and accommodate various seller situations. They provides a straightforward process for homeowners in the New York Tri-State area.
- Typical Offer: 50% to 70% of Fair Market Value (FMV).
- Eligible Properties: Sell Now Homebuyers purchase distressed properties, including those with foreclosure, tenant, or structural issues. They also assist sellers with inherited properties, as well as those facing divorce, relocation, or other challenges.
- Closing Offer Terms: They provide a flexible closing date and close on your schedule.
- Service Fee: None.
Here are some of the benefits that you get with Sell Now Homebuyers:
- Fast Cash Offer: Sell Now Homebuyers claims they will provide an offer within once they visit your property.
- Sell As-Is: Sell Now Homebuyers buy houses as-is, so you do not need to worry about making repairs.
- Save on Minor Repair Costs: When you sell your house for cash, you don’t incur upfront costs to fix, prepare, or stage your house.
» Sell Now Homebuyers Reviews: Learn more about the company.
In our research, we found some drawbacks of Sell Now Homebuyers:
- Limited Negotiation: You might have less room to negotiate the final offer.
- Lowball Cash Offer: Sell Now Homebuyers pay less than what you could get on the open market. The cash offer is around 50% to 70% of the property’s Fair Market Value.
Sell Now Homebuyers has a 4.8 out of 5 star rating on Google.
» Not Enough? – Read more in-depth on our Sell Now Homebuyers reviews.
Sell Now Home Buyers is a real estate investor group with over two decades of experience. They cover limited areas of New Jersey, New York, and Connecticut.
Though they have good customer reviews, their offers are way below the fair market value. You can get better offers if you list using a flat fee MLS service.
5. ASAP Cash Home Buyers
NATIONWIDE COVERAGE
Service Fee: NoneASAP Cash Home Buyers aims to provide a straightforward process for quick sale. They offer cash for properties in various conditions including damaged homes due to fire or flood and not covered by insurance.
- Typical Offer: While not explicitly stated on their website, the offers typically range from 50% to 70% of the property’s Fair Market Value.
- Eligible Properties: The company buys a variety of properties including condos, townhouses, etc. Properties with structural issues or facing foreclosure homes, even those in high-crime areas, are also considered.
- Closing Offer Terms: They aim for a fast closing, with timelines potentially ranging from 7 to 28 days after accepting the offer.
- Service Fee: None
Here are some of the benefits that you get with ASAP Cash Home Buyers:
- Nationwide Coverage: ASAP Cash Home Buyers operates across all 50 states, offering broad accessibility.
- Flexible Closing Date: They aim to work with your preferred closing timeline, potentially closing in as little as 7 days.
- No Hidden Costs: ASAP Cash Home Buyers mention all their fees upfront.
- Purchase of Distressed Home: You can sell your home as-is to save time and without any minor repair work.
In our research, we have found certain drawbacks of ASAP Cash Home Buyers:
- Varying Level of Service: ASAP Cash Home Buyers partners with other real estate investors. Therefore, there’s no guarantee that you will work with a knowledgeable and responsive buyer.
- Only Purchase Homes: ASAP Cash Home Buyers does not buy property interests like timeshares, hotels, or rental communities. Thus, if you want to sell other properties, you need to consider other options.
- Limited Negotiation: Since they have a streamlined process, it can result in fixed terms and conditions. This means you have less opportunity to negotiate on the offered price.
ASAP Cash Home Buyers has a rating of 4.8 out of 5 stars with 35+ reviews on Google.
» ASAP Cash Home Buyer Review: Read our in-depth analysis.
ASAP Cash Home Buyers was founded in Fort Lauderdale, FL. They are a group of real estate professionals with over a decade of experience. They don’t charge a closing fee and can buy your New York City house in 7-28 days.
Are Companies That Buy Houses for Cash in New York City Legit?
Yes, companies that buy houses for cash are legitimate and operate legally nationwide. In fact, the National Association of Realtors (NAR) validates cash buyers in the Golden State. However, be sure to read company reviews and seller testimonials to find a legitimate cash buyer.
3 Types of Companies That Buy Homes in New York City
- We Buy Houses for Cash Companies: Cash buyers like HomeVestors and Leave the Key Home Buyers purchase distressed homes, typically paying 30% to 70% of their FMV.
- iBuyers: iBuyers, such as Offerpad, provide instant cash offers between 70% and 80% of the FMV. They have strict eligibility requirements, limiting the types of homes they purchase.
- Home Trade-In Services: Companies like Knock or Orchard offer cash for your home before you move out. This helps you buy your new house without any delay.
4 Steps to Sell Your Home for Cash in New York City
Not sure how to sell your home for cash in New York City? Just follow these 4 steps:
- Find a Cash Home Buyer: Research all local companies buying houses for cash and opt for one with great client testimonials.
- Request an Offer: Once you’ve selected a cash buyer, request an offer on their website. You’ll have to provide information like the property type, number of rooms, asking price, etc.
- Schedule a Home Visit: A company representative will then inspect your house. The final cash offer will be based on the outcome of this inspection.
- Close the Deal: If you’re happy with the offer, finalize the deal. Remember to get all the paperwork for selling a house without a Realtor verified by a real estate attorney.
How Much Do Cash Buyers in New York City Pay?
New York City cash house buyers usually offer between 30% to 70% of a home’s After-Repair Value. However, it depends on factors like the company you’re selling to, their service fees, etc. Here’s how the After-Repair Value is calculated:
After-Repair Value (ARV) = Property Purchase Price (PPP) + Cost of Repairs (COR)
Imagine if you were selling your $850,000 home in New York City. With a traditional cash home buyer, you could get just $595,000. But on a cash buyer marketplace like Houzeo, you could get multiple offers, potentially driving your sale price to 100% of its FMV.
| Service Provider | Service Fee | ARV Estimate | Actual Offer |
| Cash Buyer | None | 70% | $595,000 |
| iBuyer | 5% | 80% | $680,000 |
| Houzeo | $199* | Up to 100% | $849,801 |
» Houzeo Reviews: Find out why Houzeo is New York City’s best cash buyer marketplace.
Pros and Cons of Cash Home Buyers in New York City
Given that more sellers are opting for companies that buy houses for cash in New York City, here are some pros and cons you must consider before you sell with them:
✅ Pros
- Fast Cash Offers: “We Buy Houses for Cash” companies extend offers within 24-48 hours.
- Flexible Closing: Cash buyers in New York City close quickly and on your timeline. So you can sell your home anywhere between 7 days to 30 days.
- No Repair Costs: Most cash buyers purchase properties as-is. This eliminates the need for repairs, saving thousands of dollars.
❌ Cons
- Lowball Cash Offers: New York City cash house buyers typically pay only 30% to 70% of a home’s FMV. So you leave a significant amount of your home’s equity on the table.
- Non-Negotiable Deals: Such cash offers are usually take-it-or-leave-it. There’s little to no room for negotiation, which limits your ability to secure a better offer.
- Possible Closing Costs: Some cash buyers might force you to pay seller closing costs in New York. Always check the terms, or you could be out 6.25% to 9%!
Common “We Buy Houses for Cash” Scams 🚩
If any New York City cash home buyer extends an offer that seems to-good-to-be-true, it probably is. Stay alert, and don’t fall victim to the following scams.
- Bait-and-Switch Offers: Scammers present appealing offers and then change them later, hoping you’ll accept out of desperation. Always verify the terms before you sell your house for cash or accept an offer.
- Deed Fraud: Fraudsters can sell or mortgage your home without your consent using fake documents. Check customer testimonials and online reviews before you select a cash buyer.
- Loan-Flipping Scams: Some scammers may pressure you to sell your home fast for cash by offering loans that drain your equity. Always consult a trusted advisor before agreeing to any cash offer.
- Email Phishing: Scammers send fraudulent emails pretending to be agents, title companies, or lenders. They trick you into wiring money or providing personal details for fake services. Always confirm the authenticity of any cash offer for a home via a phone call.
» We Buy Houses Ripoff: Learn how to avoid falling victim to the scam.
Alternatives to Companies That Buy Houses for Cash in New York City
- Flat Fee MLS Services: You can get up to 100% of your home’s FMV with a New York Flat Fee MLS listing service. Your home is visible to multiple cash buyers, increasing your offers.
- For Sale By Owner: In a FSBO sale, you’ll have to opt for “DIY” marketing strategies like using yard signs, word of mouth, open houses, etc. New York FSBO websites also limit your home’s exposure, which lowers your home sale price.
- Full-Service Realtors: They provide various services from listing to closing, but charge a hefty 5% to 6% commission.
- Discount Real Estate Brokers: They offer services like contract review and negotiation for a lower fee than traditional agents. Discount brokers in New York charge between 0.5% to 2.5% as commission.
Should You Sell to Cash Home Buyers in New York City?
Yes, you can sell to cash buyers. But say goodbye to 30% to 70% of your home’s equity. That’s the price you pay for a quick sale. On the other hand, on a cash buyer marketplace, you can get multiple offers, sell fast, and potentially keep more money.
