Jay Buys Detroit Reviews: Is Selling Your Home to Them Simple?

6 mins read Aug 14, 2024
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Edited By

Carol Coutinho

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Editor
Edited By

Carol Coutinho

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Carol C. is a versatile editor, expertly refining real estate content with precision and creativity. When not exploring market trends, she is immersed in the enthralling world of the theatre.

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✏️ 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.

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Jay Buys Detroit is a cash for homes company that purchases distressed properties. They cater to home sellers who are on a quick timeline or need money urgently.

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4.9

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Pros

  • Jay Buys Detroit makes cash offers on distressed properties as is, saving you repair costs
  • They have a flexible timeline, allowing you to move out at your convenience

Cons

  • You could receive just 50% to 70% of your home's value
  • This cash buyer has a limited coverage area
  • You may not be able to negotiate the offer you receive

Jay Buys Detroit cash offers on homes as-is. They provide a quick closing timeline that helps sellers who need money urgently.

However, when you sell your home to Jay Buys Detroit, you’re compromising on the sale price of your home. You are settling for an offer that is just 50% to 70% of your property’s Fair Market Value.

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 lowball offer.

In this blog, let’s look at Jay Buys Detroit reviews and their alternatives to help you get the property value you deserve!

Key Takeaways

  • Pros: You can offload your distressed property easily with Jay Buys Detroit. Unlike iBuyers, they don’t have strict eligibility criteria.
  • Cons: Jay Buys Detroit may extend an offer that is just 50% to 70% of your home’s Fair Market Value. Further, you may not be able to negotiate a higher offer.
  • Our Take: We don’t recommend Jay Buys Detroit as you won’t get top dollar for your property. Instead, list your home on a cash buyer marketplace like Houzeo to get 100% of your property’s Fair Market Value. Compare Houzeo vs. Jay Buys Detroit.

What is Jay Buys Detroit?

Jay Buys Detroit is a traditional “We Buy Houses for Cash” company. They buy houses as is, repair them, and sell them for a profit.

Jay Buys Detroit primarily caters to home sellers who need to sell their properties quickly. Hence, they extend offers on the phone or they can even visit your home and give you the offer in person.

What Types of Properties Does Jay Buys Detroit Purchase?

Jay Buys Detroit purchases all kinds of homes at a steep discount from distressed sellers. Some of these houses include:

When compared to other cash home buyers, you may be robbed of a huge chunk of money with Jay Buys Detroit.

To avoid such a possibility, list on the MLS with a flat fee company like Houzeo and compare multiple offers from cash companies and iBuyers alike.

» What’s My Home’s ValueYou can know your home’s market value with Houzeo’s free Home Worth Estimator. It helps you estimate the amount you will get upon sale.

    👉 IMPORTANT: Review local housing sales data and determine the Fair Market Value of your property before requesting a cash offer from Jay Buys Detroit.

Jay Buys Detroit vs. Houzeo

Selling to Jay Buys Detroit 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’s Gold plan equips you with advanced technology to call for the highest and best offers. You can also counter offers to help you get a deal closer to your expectations.

Jay Buys DetroitHouzeo
Sale Price50% to 70% of FMVUp to 100% of FMV
Customer Rating5 stars (34 reviews)4.9 stars (4,523 reviews)
Closing Timeline10 to 30 days2 to 60 days
Fees$379
Closing Costs1% to 3% Closing Costs
Scope for Negotiation
Repair Costs

» Houzeo Reviews: Still not convinced? Read what customers have to say about Houzeo.

Jay Buys Detroit: Pros and Cons

Jay Buys Detroit is a convenient option for sellers who need cash fast. However, their pros and cons paint a clearer picture:

Jay Buys Detroit Pros

Cash home buyers have certain advantages over traditional home-selling processes. Let’s see how Jay Buys Detroit reviews match up to these expectations.

  • Buy As Is Houses: This “We Buy Homes Fast” company purchases homes as is. So, even if your property is facing foreclosure or needs heavy repairs, you will get a cash offer.
  • Quick Closing: Jay Buys Detroit reviews say they have a flexible closing timeline. So, you can move out at your convenience.
  • 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.

⛔Jay Buys Detroit Cons

Jay Buys Detroit complaints reflect the following disadvantages of the company:

  • Lowball Cash Offers: Jay Buys Detroit views your house as an investment opportunity. So, your offer price may be much lower than the market price of your property.
  • Little to No Scope for Negotiation: With cash home buyers like Jay Buys Detroit, 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: Jay Buys Detroit offers its services only in Detroit, Michigan.

Best Alternatives to jaybuysdetroit.com

Even if you want to sell your house fast for cash, look for some alternatives better than Jay Buys Detroit. We’ve listed three below:

  • 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.
  • 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.
  • 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.

RegionStates/CitiesCompanies That Buy Houses For Cash Near Me
NortheastStatesConnecticut | Maine | Massachusetts | New Hampshire | New Jersey | New York | Pennsylvania | Rhode Island | Vermont
NortheastKey CitiesBoston, MA | Brooklyn, NY | Buffalo, NY | Long Island, NY | New York City, NY | Philadelphia, PA | Pittsburgh, PA | Rochester, NY | York, PA | Clayton, NY
MidwestStatesIllinois | Indiana | Iowa | Kansas | Michigan | Minnesota | Missouri | Nebraska | North Dakota | Ohio | South Dakota | Wisconsin
MidwestKey CitiesCincinnati, OH | Cleveland, OH | Columbus, OH | Detroit, MI | Indianapolis, IN | Kansas City, MO | Milwaukee, WI | Omaha, NE | Minneapolis, MN | Wayne County, MI | St. Louis, MO | Boulevard Heights, MO |
SouthStatesAlabama | Arkansas | Delaware | Florida | Georgia | Kentucky | Louisiana | Maryland | Mississippi | North Carolina | Oklahoma | South Carolina | Tennessee | Texas | Virginia | Washington, D.C | West Virginia
SouthKey CitiesAtlanta, GA | Asheville, NC | Baltimore, MD | Charlotte, NC | Charleston, SC | Columbia, SC | Dallas, TX | Fort Lauderdale, FL | Fort Myers, FL | Fort Worth, TX | Greensboro, NC | Greenville, SC | Houston, TX | Huntsville, AL|Killeen, TX | Knoxville, TN | Lexington, KY | Louisville, KY | Miami, FL | Nashville, TN | New Orleans, LA | Orlando, FL | Pasadena, TX | Raleigh, NC | Rockville, MD | San Antonio, TX | St. Augustine, FL | Tampa, FL | West Palm Beach, FL | Memphis, TN | Austin, TX | Norfolk, VA | Jacksonville, FL | Tallahassee, FL | Pensacola, FL | Sarasota, FL | Panama City, FL | Augusta, GA | Virginia Beach, VA | Clearwater, FL | Savannah, GA | Chattanooga, TN | Columbus, GA | Lawrenceville, GA | Winston-Salem, NC | Birmingham, AL | Jackson, MS | Biloxi, MS
WestStatesAlaska | Arizona | California | Colorado | Hawaii | Idaho | Montana | Nevada | New Mexico | Oregon | Utah | Washington | Wyoming
WestKey CitiesColorado Springs, CO | Denver, CO | Fresno, CA | Las Vegas, NV | Los Angeles, CA | Phoenix, AZ | Sacramento, CA | San Diego, CA | San Francisco, CA | Seattle, WA | Tucson, AZ | Portland, OR | Salt Lake City, UT | Orange County, CA | Roseville, CA | Ventura, CA | Lemon Grove, CA | Casitas Springs, CA | Bakersfield, CA

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Frequently Asked Questions About Jay Buys Detroit

1. Is Jay Buys Detroit legit?

Yes. Jay Buys Detroit is a legitimate company that buys houses for cash in Detroit, Michigan.

Companies That Buy Houses for Cash Near Me 🔍

RegionCash Home Buyers
Nationwide Connect Home Buyers | ASAP Cash Offer | Expert Home Offers | House Buyer Network | Swift Homes | Fast Home Offer
Near-Nationwide Homevestors | We Buy Houses | Express Homebuyers| House Cashin | Highest Cash Offer
Northeast I Buy Li | IPS | ibuy585.com | Integrity First Home Buyers| Handsome Homebuyer | New England Home Buyers | Sell Fast Boston | Sell Now Homebuyers | First Choice Home Buyers | 1-800-cash Offer | Halo Homebuyers | Morgan Home Solutions | Sell to Jim | Snappy Home Buyers
MidwestDirect Home Buyers | I Buy SD | Ben Buys Indy Houses | Grandview Homes | Heartland Buys Houses | Christopher Ellyn Homes | Des Moines Home Buyers LLC | Professional Home Buyers | HouseMax | Jay Buys Detroit | Detroit Cash for Homes | Detroit Fair Offer | Minnesota Home Guys | Chris Buys Homes | Upward Home Solutions | Ohio Cash Buyers | All Ohio Home Buyers | Omaha Homes for Cash | Metro Milwaukee Home Buyer | Cream City Home Buyers
SouthCava Buys | Simply Sold | Homego | Irby Buys | Mark Spain Real Estate | 365 Property Buyers | Florida Cash Home Buyers | Quick Home Buyers | Freedom Cash Home Buyers | Sarasota Home Buyers | Maximum Cash Home Buyers | Cash Offer Kentucky | Geaux Home Buyers Llc | The Buy Guys | Maryland Cash House Buyers | Keen Home Buyers | Nc Cash Home Buyers | W Properties | Charleston House Buyers | New Horizon Home Buyers | Sell to Bobby | House Heroes | Traction Home Offer | Pps House Buyers | Investment Capital Home Buyers | MarketPro HomeBuyers | Texas All Cash Home Buyers | 4 Brothers Buy Houses | Advantage Homebuyers of America
WestTarek Buys | Osborne Homes | Property Max | Seller's Advantage | Sundae | Andrew The Home Buyer | Doug Hopkins Real Estate | John Buys Bay Area Houses | Laurel Buys Houses | John Medina Buys Houses | SoCal Home Buyers | Sell Quick California | Gordon Buys Homes | The Buy-Out Company | Oahu Home Buyers | Khd Real Estate LLC | Enlight Homebuyers | We Buy Any Vegas House | Boise House Buyers | Brothers buy homes | House Buyers of America | The Easy Home Buyer | I Will Buy House | Beachworks LLC

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