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 Norfolk 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 Norfolk
1. Houzeo.com: Norfolk’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 Norfolk’s top 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. Opendoor
SEASONED IBUYER
Service Fee: 5%Opendoor is the biggest iBuyer in the U.S. They offer cash for your home within 24 to 48 hours of submitting your details on their website. Opendoor is also flexible with closing timelines and move-out dates.
- Typical Offer: 70% to 80% of your property’s Fair Market Value.
- Eligible Properties: Opendoor will make cash offers only on owner-occupied properties built post-1930 with a maximum lot size of 1.5 to 2 acres. Prefabricated homes or homes with tenants do not qualify for Opendoor’s cash offer.
- Closing Offer Terms: Opendoor claims to let you close at your pace, up to 45 days after their offer. However, be aware that your final offer may change.
- Service Fee: You will be charged 5% of the home sale price.
Here are some of the benefits that you get with Opendoor:
- Broad Coverage: Opendoor makes cash offers for houses in 51 markets across the country.
- Sell As-Is: Opendoor helps you avoid the hassle of making minor repairs and you can sell your house as-is.
- Late Checkout up to 14 Days: Opendoor lets you temporarily stay in your home for up to 2 weeks after closing.
- No Cancellation Fees: You can cancel the contract anytime without incurring any fine.
In our research, we have found certain drawbacks of Opendoor:
- Low-ball Cash Offer: Opendoor’s final cash offer may be below your property’s Fair Market Value, around 70%. They also deduct repair and closing costs.
- Hefty Service Fees: Opendoor will charge you a steep 5% service fee.
- Strict Eligibility Criteria: Opendoor doesn’t pay cash for inherited properties, homes with tenants, pre-fabricated or mobile homes, and properties located in a flood zone.
Opendoor has a rating of 4.4 out of 5 stars on Reviews.io.
» Opendoor Reviews: Read customer reviews and our breakdown of Opendoor’s cash offer to make an informed decision.
Opendoor is a good option if your home needs minimal repairs. You can get a maximum of 80% of your property’s fair market value. However, this means leaving thousands of dollars on the table. Their service fee is also a steep 5% of your home’s sale price.
3. Advantage Homebuyers of America
Local Cash home Buyer
Service Fee: NoneAdvantage Homebuyers of America is here to help you quickly secure cash for your home in Virginia Beach, VA. With 25 years of experience, this property investor has been making all-cash offers on distressed properties that align with their criteria.
- Typical Offer: 50% to 70% of Fair Market Value (FMV)
- Eligible Properties: Advantage Homebuyers of America 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.
- Closing Offer Terms: This local cash buyer provides a flexible closing date, of up to 30 days. Offer terms are inflexible, and some franchisee offices may use controversial tactics to close the cash home deal.
- Service Fee: None.
For homeowners seeking a simple way to sell a house fast, Advantage Homebuyers of America offers several key advantages.
- Fast Cash Offer: Advantage Homebuyers of America extends free, no-obligation offers for damaged properties within 24 hours.
- Flexible Closing: They provide flexible closing timelines of up to 30 days.
- No Additional Costs: They charge no service fees, no commissions, and no closing costs.
- Sell As-Is: You will save on repair costs and staging costs when you sell your house as-is to them.
- Good Customer Reviews: They only have stellar reviews from previous customers.
It’s important to consider potential drawbacks in a cash sale. A homeseller should weigh in pros with cons before accepting the cash offer on a house.
- Limited Coverage: Advantage Homebuyers of America covers only select areas of Virginia, including Virginia Beach, Suffolk, Norfolk, and Hampton.
- Inconsistent Quality of Service: When you sell to Advantage Homebuyers of America, you sell your house to a local investor. The service quality will differ based on that investor’s franchisee.
- Location Restrictions: Certain neighborhoods or areas may not meet their investment criteria, impacting your chances of receiving an offer.
Advantage Homebuyers of America has 5 out of 5 stars from 80+ reviews on Google.
» Advantage Homebuyers of America Reviews: Read our in-depth review.
Advantage Homebuyers of America is a local Norfolk-based cash home buyer with 25+ years of experience. You can get a fast, fair offer on your house
without paying fees and commissions.
However, they work on franchisees with local investors which can make your experience different as per their services.
4. Marketpro Homebuyers
ZERO COMMISSION
Service Fee: NoneMarketPro Homebuyers is one of the biggest cash home buyers on the East Coast. It serves majorly in Washington DC, Florida, Maryland, New Jersey, Georgia, Pennsylvania, and Virginia.
- Service Fee: None
- Typical Offer: 30% to 70% of Fair Market Value (FMV)
- Eligible Properties: MarketPro Homebuyers purchases homes that need extensive repairs, houses with probate or power of attorney issues, homes of couples going through a divorce, inherited properties, vacant homes, etc.
- Closing Offer Terms: The cash home buyer usually close within a week. The company allows you to choose a closing date that best fits your schedule.
👉 Our Take: Since MarketPro Homebuyers has a network of investors, therefore, there is a certainty of getting a cash offer for your home. However, its wise to rethink as the company typically offers not more than 70% of your home’s fair market value.
- Free Packing & Moving Assistance: Once you sell your house to MarketPro Homebuyers, it helps you pack your belongings, and manage the moving process.
- No Renovation or Repair Costs: If your house is in distressed condition, the cash home buyer does not ask you to make it move-in ready. This saves you hundreds of dollars in repair/ renovation.
- Fast Closing: The preliminary cash offer is sent within 24 to 48 hours. MarketProHomebuyers.com closes in as little as seven days.
- No Closing Costs: When you sell your home to MarketPro Homebuyers, it coves all the fees associated with selling and closing a home sales.
» Is MarketPro Homebuyers legit? Read more to know if it’s worth considering or not!
- Pays Below Market Value: MarketPro HomeBuyers give below-market-value cash offers. It will likely be not more than 70% of the fair market value.
- Limited Coverage: The cash home buyer purchases real estate properties for cash in 21 markets across 5 states. You should consider other reputable cash home buyers if your property lies outside MarketPro’s coverage.
- Aggressive Marketing Tactics: Several customers have complained about receiving persistent marketing texts and mailings for years, leading to frustration and annoyance.
» MarketPro Homebuyers Coverage: Discover the real estate markets where MarketPro provides cash offers for homes.
MarketPro HomeBuyers has a rating of 4.6 out of 5 stars on Google with 500+ reviews.
MarketPro Homebuyers is a cash buyer of houses that owners want to get rid of. Whether it’s a property with bad tenants or you want to sell an inherited home, you should consider these AS-IS property buyers.
Marketpro’s uncanny marketing gimmicks are difficult to understand. In nearly 70 out of the 337 Google reviews, homeowners have complained about unsolicited emails, messages, and postcards.
5. 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.
Are Companies That Buy Houses for Cash in Norfolk 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 Land of the North People. However, be sure to read company reviews and seller testimonials to find a legitimate cash buyer.
3 Types of Companies That Buy Homes in Norfolk
- We Buy Houses for Cash Companies: Cash buyers like HomeVestors 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 Norfolk
Not sure how to sell your home for cash in Norfolk? 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 Norfolk Pay?
Norfolk 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 $314,900 home in Norfolk. With a traditional cash home buyer, you could get just $220,430. 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% | $220,430 |
| iBuyer | 5% | 80% | $251,920 |
| Houzeo | $199* | Up to 100% | $314,701 |
» Houzeo Reviews: Find out why Houzeo is Norfolk’s best cash buyer marketplace.
Pros and Cons of Cash Home Buyers in Norfolk
Given that more sellers are opting for cash buyers in Norfolk, 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 Norfolk 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: Norfolk 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 Virginia. Always check the terms, or you could be out 6.25% to 9%!
Common “We Buy Houses for Cash” Scams 🚩
If any Norfolk 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 Norfolk
- Flat Fee MLS Services: You can get up to 100% of your home’s FMV with a Virginia 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. Virginia 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 Virginia charge between 0.5% to 2.5% as commission.
Should You Sell to Cash Home Buyers in Norfolk?
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.
