Over 30% of all homes were bought with cash in Q2 2024. Nashville topped this list with 31% of cash sales. This shows that cash is still king in the Volunteer State.
Cash buyers offer a fast, as-is sale, often closing within 7 days. But which cash buyers will get you 100% of your home’s Fair Market Value? See our rankings below to find out and keep thousands in your pocket!
Reviews: 7 Top Cash Home Buyers in Tennessee
1. Houzeo: Tennessee’s #1 Cash Home Buyer Marketplace
Houzeo 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.
- Fee: Houzeo does not charge any undisclosed closing fee.
- $399 + $350 at Close: 6-month MLS listing, 24 photos
- $399+0.5% at Close: Maximum photos, premium yard sign
- $429+0.5% at Close: Pricing assistance, contract review, seller disclosures, licensed broker assistance
- $449+1% at Close: Virtual full-service with licensed broker, offer negotiations
- Typical Offer: Up to 100% of your property’s Fair Market Value.
- Eligible Properties: On Houzeo Marketplace, you can sell your house as is.
- Closing Offer Terms: You can specify your preferred closing date and the closing offer terms.
👉 Our Take: For sellers looking to maximize their cash offers, we recommend Houzeo’s Gold plan. You can access Houzeo’s advanced features to negotiate the best terms for your cash offer.
» 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! All fees are disclosed upfront, so there are no Houzeo hidden fees.
- Home Value Estimator: Houzeo’s home value estimator can get you a quick and free estimate of your property’s market value in 30 seconds.
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, your home gets maximum exposure to Tennessee’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. Offerpad
Offerpad is an iBuyer that makes cash offers on homes that meet their eligibility criteria. This cash offer is based on their patented evaluation tool’s calculations.
- Typical Offer: It is 70% to 80% of the market value of your property.
- Service Fee: 5% of the home sale price and 1% as closing costs.
- Eligibility: Offerpad offers cash for houses built after 1960, with a maximum lot size of 1 acre, and a max valuation of up to 1M. Homes with foundational issues are not eligible.
- Closing Offer Terms: They make an initial offer within 24 hours of submitting your details. However, the final offer may change after they conduct a home inspection.
👉 Our Take: When you sell to Offerpad, you can close in as early as 2 weeks. So, if you want to sell fast and are open to leaving cash on the table Offerpad is a good option.
- Lightning Fast Closing: With Offerpad’s cash-for-house offer, you can close your property in a fortnight.
- 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.
- Extended Checkout: You can extend your stay in your home even after the closing date.
- Broad Coverage: Offerpad buys houses for cash in 27 markets across the country.
- Lowball Cash Offer: Offerpad extends two offers- an initial one and a final one. The difference between the two can be quite high. One home seller was offered $189,000 initially but received a lowball offer of $149,000 post Offerpad’s home inspection.
- High Service Fees: Offerpad charges a steep 5% service fee for their cash offer. This fee covers title insurance, escrow fees, HOA transfer fees, taxes, etc.
- Offerpad Cancelation Fee – 1%: If you’re 4 days from closing and decline Offerpad’s cash offer, they’ll charge 1% of the home sale price as a cancelation fee.
Offerpad has a 2.7 out of 5-star rating on TrustPilot.
» Offerpad Reviews: See what customers have to say about Offerpad.
Offerpad extends cash offers that are up to 80% of your home’s fair market value within 24 to 48 hours. They use advanced algorithms that compare local property prices to calculate offers.
The biggest downside to selling to Offerpad is their strict eligibility criteria. They can withdraw from the sale if your home doesn’t meet their requirements at any point during the transaction.
3. New Horizon Home Buyers
New Horizon Home Buyers is a reliable cash buyer that specializes in providing fair offers and support for selling your house as-is.
- Service Fee: None
- Typical Offer: 50% to 70% of Fair Market Value (FMV)
- Eligible Properties: New Horizon Home Buyers specializes in distressed properties facing structural issues, inherited properties, tenant problems, code violations, and more.
- Closing Offer Terms: They offer a closing timeline of 7 to 30 days.
👉 Our Take: New Horizon Home Buyers is a reliable option for homeowners seeking a trusted cash buyer. However, they have a minimal coverage area.
- Fast Cash Offer: Get an offer in approximately 24 to 48 hours.
- No Additional Charges: You won’t even need to pay any extra fees, as they even cover your closing costs.
- No Renovation or Repair Costs: New Horizon Home Buyers purchase houses as-is. You do not need make any repairs to your house before the sale.
- Non-negotiable Offer: New Horizon Home Buyers will not offer more than 70% of your property’s fair market value. After a thorough home inspection, they quote an offer based on the after-repair value.
- Limited Coverage: They provide services only in selected states such as Georgia, Tennessee, Arkansas, Alabama, Louisiana, South Carolina, North Carolina, Florida and Texas.
New Horizon Home Buyers has 4.9 out of 5 stars with 35+ reviews on Google.
» New Horizon Home Buyers Reviews: Know why it is not the best way to sell with New Horizon Home Buyers in 2024.
New Horizon Home Buyers specializes in quick cash home purchases, offering competitive offers up to 70% of the home’s fair market value. They buy properties in any condition, allowing sellers to avoid repairs. After the acquisition, they renovate and resell homes for profit.
4. Opendoor
Opendoor is the country’s biggest iBuyer. 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.
- Service Fee: 5% of the home sale price.
- 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, inherited properties, or homes with tenants do not qualify for Opendoor’s cash offer.
- Closing Offer Terms: Opendoor lets you close at your pace, up to 45 days after their offer. The final offer may change after the home inspection.
👉 Our Take: Opendoor will likely make a cash offer on your home quickly. But you will end up leaving almost 20% to 30% of your home equity on the table.
- Broad Coverage: Opendoor makes cash offers for houses in 51 markets across the country.
- Flexible Closing Dates: Opendoor allows you to close at your convenience – up to 45 days after their offer.
- Late Checkout up to 14 Days: Opendoor lets you temporarily stay in your home for up to 2 weeks after closing.
- No Cancelation Fees: You can cancel the contract without any cancelation fee.
- Lowball Cash Offer: Opendoor’s final cash offer may be below the property’s fair market value, around 70%. They also deduct repair and closing costs.
- Hefty Service Fees: Opendoor charges a steep 5% service fee for their services.
- Opendoor May Back Out of the Deal: Some homeowners have had a bad experience with Opendoor. Opendoor backed out of the cash deal at the last minute, leaving the homeowner stranded.
- Undisclosed Repair Cost Breakdown: The difference between Opendoor’s preliminary offer vs. final offer can be humongous. In many cases, sellers were forced to pay for unnecessary “repairs”.
- 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.
5. Express Home Buyers
Express Homebuyers specializes in making all-cash offers on distressed houses. They cater to home sellers who want to sell their houses fast without making any repairs.
- Service Fee: Express Homebuyers do not charge any upfront fees.
- Typical Offer: Their cash offer ranges from 50% to 70% of the house’s fair market value (FMV).
- Eligible Properties: Express Homebuyers deals in inherited houses, home sales after divorce, foreclosure properties, rental properties, etc.
- Closing Offer Terms: While they usually close within 2 to 4 weeks, they have a flexible closing timeline and can buy your home at your convenience.
👉 Our Take: Express Homebuyers can be a great option to sell an extremely distressed property. However, if your house needs minimal or no repairs, then you should consider listing on the MLS.
- No Obligations Offers: You will receive a free estimate for your property, no matter how many major fixes it needs.
- Near Nationwide Coverage: Express Homebuyers offers cash for houses in 20 states including major states like Florida, California, Texas, Washington, etc.
- Flexible Closing Date: Closing dates can be finalized as per the home seller’s terms.
- No Charges or Fees: Express Homebuyers do not charge you any fees. You will receive the full selling price based on market research and the house’s conditions.
- Sell As-Is: You save on repair costs, and sell your house as-is.
» What is Express Homebuyers? Read our in-depth analysis of Express Homebuyers.
- Poor Customer Support: Previous clients have complained about their lack of communication and half-hearted responses.
- Non-Negotiable Offer: Your house will receive a cash offer of not more than 70% of the property’s fair market value.
Express Homebuyers has a rating of 4.4 out of 5 stars with 135+ reviews on Google Reviews.
» Express Homebuyers Reviews: Is there really no service fee?
Express Home Buyers is a cash-buying company with nearly 2 decades of experience. Their expertise can get you the best deal while selling your house as is.
However, they have poor customer support, which can delay your sale.
6. We Buy Houses
We Buy Houses is a network of pre-vetted real estate investors. Each investor is thoroughly screened before being authorized to operate independently.
- Service Fee: None
- Typical Offer: 50% to 70% of the property’s fair market value.
- Eligible Properties: Distressed properties with structural issues, homeowners facing relocation, flawed mortgage financing, inherited homes, or homes in high-crime neighborhoods.
- Closing Offer Terms: We Buy Houses provides a flexible closing date, typically 7 to 14 days. The offer terms are not flexible.
👉 Our Take: We Buy Houses is an ideal option to sell your home quickly without the hassle of repairs. However, be prepared to settle for a lowball offer.
- Fast Cash Offers: You will typically receive the initial cash offer within 2 days.
- Zero Service Fees: We Buy Houses doesn’t charge any service fee in exchange for the convenience of selling your home for cash.
- Fast Closing: We Buy Houses can complete the entire home sale process in just 7 days after you accept their offer.
- Zero Repair Costs: When selling to We Buy Houses, you don’t need to prep the house or worry about repairs.
- Service Quality Varies: We Buy Houses operates on a franchise model. It means service quality can vary depending on the location.
- Limited Scope for Negotiation: We Buy Houses extends “take-it-or-leave-it” offers. You can try to negotiate, but usually, they won’t budge.
- Unsolicited Calls: Some reviews mention receiving unsolicited calls and texts from the company.
» We Buy Houses vs. Houzeo: Learn why Houzeo is better than “We Buy Houses”.
We Buy Houses has 1 star out of 5 on Better Business Bureau from only 4 customer reviews.
» We Buy Houses Reviews: Read this comprehensive review to learn more about the company.
We Buy Houses is a real estate investment company specializing in buying distressed properties at a discount across the country. You can sell your home without spending a dollar on repairs. However, you will be forced to settle for an offer that’s 50% to 70% of your home’s value.
This cash buyer operates on a franchise model. So, the quality of service you receive may differ based on your location.
7. ASAP Cash Home Buyers
ASAP Cash Home Buyers, founded in 2013, offers quick and hassle-free home sales. It specializes in assisting homeowners who need to sell their property fast for cash.
- Service Fee: None
- Typical Offer: 50% to 70% of the Fair Market Value (FMV)
- Eligible Properties: The company buys properties that have structural issues, have bad mortgage financing, and are located in high-crime areas. They also offer cash for inherited houses and empty lots.
- Closing Offer Terms: You close the deal in 3 weeks after accepting the offer. You also have the option to choose a closing date that suits your needs.
👉 Our Take: ASAP Cash Home Buyers’ is a good choice if you want to save on repair costs. However, you have to settle for a price that’s almost half of the home’s fair market value.
» Pros and Cons of Asap Cash Home Buyers: Must read before you make a decision.
- Nationwide Coverage: The cash home buyer offers its services in all the 50 states of the U.S.
- Flexible Closing Date: You can choose a closing date that works best for you.
- No Hidden Costs: ASAP Cash Home Buyers clearly outline all their fees upfront.
- Purchase of Distressed Home: You can sell your home as-is to the cash buyer. This would save you time and help close the deal faster.
- Varying Level of Service: ASAP Cash Home Buyers partners with independent investors nationwide. Therefore, there’s no guarantee that you will work with knowledgeable and responsive agents.
- 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 have a rating of 4.8 out of 5-stars with 40+ reviews on Google.
» ASAP Cash Home Buyer Review: 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.
Top “We Buy Houses for Cash in Tennessee” Companies Near You
1. Knoxville, TN | Cash Home Buyers in Knoxville, TN |
2. Memphis, TN | Cash Home Buyers in Memphis, TN |
3. Nashville, TN | Cash Home Buyers in Nashville, TN |
Are Companies That Buy Houses for Cash in Tennessee Legit?
Yes, companies that buy houses for cash are legitimate and operate legally nationwide. The best home buying companies purchase distressed properties at a discount, renovate them, and then sell them for profit.
3 Types of Companies That Buy Homes in Tennessee
- 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 housee without any delay.
4 Steps to Sell Your Home for Cash in Tennessee
Not sure how to sell your home for cash in Tennessee? 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 Tennessee Pay?
Tennessee 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 $393,500 home in Tennessee. With a traditional cash home buyer, you could get just $275,450. 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% | $275,450 |
iBuyer | 5% | 80% | $314,800 |
Houzeo | $749* | Up to 100% | $392,751 |
» Houzeo Reviews: Find out why Houzeo is Tennessee’s best cash buyer marketplace.
Pros and Cons of Cash Home Buyers in Tennessee
Given that more sellers are opting for cash buyers in Tennessee, 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 Tennessee 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: Tennessee 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 Tennessee. Always check the terms, or you could be out 6.25% to 9%!
Alternatives to Companies That Buy Houses for Cash in Tennessee
- Flat Fee MLS Services: You can get up to 100% of your home’s FMV with a Tennessee 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. Tennessee 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 Tennessee charge between 0.5% to 2.5% as commission.
Should You Sell to Cash Home Buyers in Tennessee?
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.
Frequently Asked Questions
Which is the best company that buys houses for cash in Tennessee?
Houzeo is the best cash buyer marketplace in Tennessee. Companies like Opendoor and HomeVestors are other great options for selling homes for cash.
How can you sell to companies that buy houses for cash in Tennessee
To sell to companies that buy houses for cash, first research local cash buyers in Tennessee or use a cash buyer marketplace. Then, submit your home’s information and get an offer within 24-48 hours. You can complete the sale in as little as a week once you finalize the agreement.
How fast can I sell my Tennessee house?
You can sell your house fast for cash in Tennessee within 7 to 30 days with a cash home buying company. However, you get only 30% to 70% of your property's Fair Market Value. To get a higher price, sell to a cash buyer marketplace like Houzeo and attract multiple cash offers.
What to look for when choosing cash home buyers?
Look for legitimate cash home buyers that have a great reputation in the industry. They should have positive customer reviews on platforms like Google that highlight their transparent processes and fair offers.