✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.
House Buyers of America is a cash for houses company that works directly with home sellers and real estate investors. They make all cash offer on distressed homes and close on them quickly.
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Pros
- House Buyers of America doesn't charge a service fee or closing costs
- They have a quick and a flexible closing timeline so you can move out at your convenience
Cons
- You may get an offer that is just 50% to 70% of your home's value
- The cash offer is a 'take-it-or-leave-it' deal
House Buyers of America is a real estate investment company that makes cash offers on homes as-is. They also work with real estate investors. They provide a quick closing timeline that helps sellers who need money urgently.
However, housebuyersofamerica.com’s offerings aren’t as straightforward as they seem. You may have to settle for an extremely lowball offer for your property.
An MLS listing on a cash buyer marketplace like Houzeo can get you 100% of your property’s value. With Houzeo, your listing can be on the MLS within 24 hours. Moreover, you can compare offers from multiple national and local cash buyers, instead of settling for just one offer.
In this blog, let’s look at House Buyers of America reviews and their alternatives to help you get the property value you deserve!
Key Takeaways
- Pros: You can offload your distressed property easily with House Buyers of America. Unlike iBuyers, they don’t have strict eligibility criteria.
- Cons: House Buyers of America typically purchases homes for 50% to 70% of their Fair Market Value (FMV). You cannot negotiate a higher offer and have to lose out on your equity.
- Our Take: We recommend listing your home on a cash buyer marketplace like Houzeo to get 100% of your property’s Fair Market Value. Compare Houzeo vs. House Buyers of America.
What is House Buyers of America?
House Buyers of America is a company that offers cash for homes. According to their website, they promise to give you a cash offer within 10 minutes.
They can close on a property in just 9 days. Moreover, they can also close on a date that is convenient for you.
House Buyers of America vs. Houzeo
Selling your house to House Buyers of America seems hassle free. But you pay for this convenience by selling your home at a reduced price.
On the other hand, an MLS listing with Houzeo gives you wide exposure to multiple cash buyers. You can use Houzeo’s cutting-edge technology to compare offers and request the highest and best one.
| House Buyers of America | Houzeo | |
|---|---|---|
| Sale Price | 50% to 70% of FMV | Up to 100% of FMV |
| Customer Rating | 4.6 stars (260 reviews) | 4.9 stars (7,000+ reviews) |
| Closing Timeline | 7 to 60 days | 2 to 60 days |
| Fees/Commissions | ❌ | $399 |
| Scope for Negotiation | ❌ | ✅ |
| Compare Offers | ❌ | ✅ |
| Multiple Offers | ❌ | ✅ |
House Buyers of America: Pros and Cons
House Buyers of America is a convenient option for sellers who need cash fast. However, their pros and cons paint a clearer picture:
✅ House Buyers of America Pros
Cash home buyers have certain advantages over traditional home-selling processes. Let’s see how House Buyers of America matches up to these expectations.
- Buy As Is Houses: This “We Buy Homes Fast” company purchases houses as is. So, even if your property is facing foreclosure or needs heavy repairs, you will get a cash offer.
- Fast Cash Offer: House Buyers of America is known for extending cash offers within 24-48 hours. So, you can get quick cash in hand if you’re in a hurry.
- Quick Closing: House Buyers of America reviews say they close in 7-45 days. They also have a flexible timeline and can close on a date suitable to you.
- No Service Fees: This cash buyer doesn’t charge any service fee when you sell your house to them. You save money while enjoying the convenience of a quick sale.
⛔ House Buyers of America Cons
Housebuyersofamerica.com complaints reflect the following disadvantages of the company:
- Lowball Cash Offers: Your cash offer could be just 50% to 70% of your home’s market value.
- Little to No Scope for Negotiation: With cash home buyers like House Buyers of America, you don’t have room to negotiate your cash offer. If you still want to try your luck, ensure that you back your arguments with proof.
- Limited Coverage: House Buyers of America only offers cash for Washington, DC, Maryland and Virginia houses.
Best Alternatives to House Buyers of America
Even if you want to sell your house fast for cash, look for some alternatives better than Housebuyersofamerica.com. We’ve listed three below:
1. Houzeo
Houzeo is one of the best FSBO websites in America that lets you list your home on the MLS in just 24 to 48 hours. Here, multiple national and local cash home buyers make offers on your property, driving up its price. You can even get 100% of your home’s FMV.
So, why settle for just one offer when you have the pick of the lot with this Flat Fee listing service?
2. Opendoor
Opendoor is the largest iBuyer in America extending cash offers for homes needing minimal repairs. They generally pay 70% to 80% of your home’s FMV but deduct a 5% service fee, closing costs, and repair costs from the offer.
3. HomeVestors
HomeVestors is a cash home buyer franchise offering 50% to 70% of the home’s FMV. However, they may deduct repair costs at closing. Further, since each office is independently owned, you won’t get consistent service across the country.
“We Buy Houses for Cash” Companies Near Me
There are other “We Buy Houses As Is” companies in the market. You can request an offer from multiple cash companies and pick the one that suits you the best.
Should You Sell Your House to House Buyers of America?
Yes, housebuyersofamerica.com is a good option if you need quick cash. However, you must know that you will get a lowball offer. In addition, your property gets cash offer from only one investor who will give you a single offer.
In contrast, when you list on a cash buyer marketplace like Houzeo.com, your property gets exposure from local and national cash home buyers. You can get multiple offers and maybe even top dollar for your property when you list on MLS.
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Frequently Asked Questions About House Buyers of America
1. Is House Buyers of America legitimate?
Yes, House Buyers of America is a legitimate company. They have been buying homes for cash in Washington, DC, Maryland and Virginia since 2001.
2. How much money will House Buyers of America offer for my property?
With House Buyers of America you might get a lowball cash offer. After evaluation of the current state of your property it would probably be 50% to 70% of your home's market value.
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