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 homeowners ditch repairs and choose cash buyers for a hassle-free sale in the Empire State!
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 Best Cash Home Buyers in New York
1. Houzeo: New York’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:
- Your Property will be on All Major Real Estate Websites: Houzeo’s packages give you access to the MLS. This showcases your property on 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 has cutting-edge tech. For you, this means easy listing, fast changes, online showings, and online offers on your phone, from your couch.
With Houzeo, there are no dealbreakers—it’s so simple, a 5-year-old could sell a house!
» 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, your home gets maximum exposure to New York’s best cash home-buying companies and individual investors. You could get multiple competitive offers for your home, driving up its final sale price.
2. Leave the Key Home Buyers
POPULAR CASH HOME BUYER
Service Fee: NoneLeave the Key Home Buyers is a family-owned company that buys houses for cash in Long Island and greater NY. They 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 facing challenges such as structural issues, disclosure problems, bad mortgage financing, 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:
- Sell As-Is: You can avoid the hassle of making repairs and sell your house as-is.
- Flexible Inspection: You either can send your home pictures to the company or opt for an in-person review.
- Quick Closing: You can close in as little as three weeks.
- 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. However, 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.
- Lowball 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 star-rating from 50+ reviews on Google Reviews.
👉 Our Take: We recommend Leave the Key Home Buyers if you want to sell your home fast in NY. However, if you have the luxury of time, an MLS listing will get you multiple offers.
3. 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 provide a straightforward process for homeowners in the New York Tri-State area.
- Typical Offer: 50% to 70% of Fair Market Value.
- Eligible Properties: Sell Now Homebuyers purchases distressed properties, including those with foreclosure, tenant, or structural issues. They also buy inherited properties and assist sellers navigating divorce, relocation, etc.
- Closing Offer Terms: Close on your schedule, whether you prefer a fast closing in mere weeks or a slower one, taking around six months.
- Service Fee: None.
Here are some of the benefits that you get with Sell Now Homebuyers:
- Sell As-Is: You don’t need to worry about repairs, sell your house as is.
- Fast Cash Offer: Sell Now Homebuyers claims to provide an offer once they visit your property.
In our research, we found some drawbacks of Sell Now Homebuyers:
- Lowball Cash Offer: They 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.
- Limited Reviews: They have very few customer reviews available online.
Sell Now Homebuyers has a 4.8 out of 5 star rating from 25+ reviews 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.
4. 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: Want to know more about the company? Read our in-depth analysis.
ASAP Cash Home Buyers, based in Fort Lauderdale, FL is a dedicated team of real estate professionals. They specialize in fast transactions, and provide a seamless home-selling process without any closing fees.
However, if your home requires extensive repairs, you may get just 50% to 70% of your home’s fair market value.
5. Handsome Homebuyer
LOCAL CASH BUYER
Service Fee: NoneHandsome Homebuyer is among the top property purchasers that buy homes for cash in Long Island.
- Typical Offer: 50% to 85% of Fair Market Value.
- Eligible Properties: Handsome Homebuyers deals with all types of distressed houses, including fixer-uppers, inherited properties, etc. They also entertain homeowners who are dealing with divorce, relocation, or a death in the family.
- Closing Offer Terms: They claim to close in 7 days, and on your terms.
- Service Fee: None.
Following are the highlights of Handsome Homebuyers:
- Fast Cash Offer: They provide an offer in approximately 24 hours or less.
- Quick Closing: You can close in as little as 7 days with them.
- Sell As-Is: Sell your house as-is to Handsome Homebuyer and avoid minor repairs.
Keep note of the following deal breakers before you close with Handsome Homebuyers:
- Limited Coverage: Handsome Homebuyer buys houses for cash only in Nassau County, Suffolk County, and all the 5 New York City boroughs.
- Non-Negotiable Cash Offers: They do not offer more than 70% of your property’s Fair Market Value, rarely budge from the initial offer.
- Lowball Cash Offer: You will be paid less than what your house could get with a New York Flat Fee MLS listing.
- Not 100% Online: They have a limited tech stack. This means a lot of offline processes, like a counteroffer request or inspections management.
Handsome Homebuyer has 4.7 out of 5 stars from 65+ reviews on Google Reviews.
» Handsome Homebuyer Reviews: Are they worth it? Read on to know more.
Handsome Homebuyer is a Long Island based local cash home buyer company. They cater to home sellers who are on a time crunch and can close on your property in just 7 days.
However, this cash buyer extends “take-it-or-leave-it” deals with no scope for negotiation.
Best Cash Home Buyers Near Me 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 |
Are Companies That Buy Houses for Cash in New York 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 Empire 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
- We Buy Houses for Cash Companies: Cash buyers like HomeVestors and House Heroes purchase distressed homes, typically paying 30% to 70% of their FMV.
- iBuyers: iBuyers, such as Opendoor and 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
Not sure how to sell your home for cash in New York? 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 Pay?
New York 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. 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’s best cash buyer marketplace.
Pros and Cons of Cash Home Buyers in New York
Given that more sellers are opting for cash buyers in New York, 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 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 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 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
- 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?
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.
