First Choice Home Buyers Reviews (2024 Update)

First Choice Home Buyers is a cash-for-homes company that purchases distressed properties as is. They help you save on repair and closing costs.

Editor’s Rating

4.6

User Rating

0

(0 Reviews)

Write a review

Pros

• Fast and hassle-free sale
• No appraisal contingency
• No agent commissions and other closing costs

Cons

• Offers less than the FMV of the house
• No scope for negotiation
• Only available in Pennsylvania

First Choice Home Buyers is a cash buyer company. The company purchases homes in any condition, even if they need heavy repairs. You can also sell them a financially distressed property, such as a home facing foreclosure.

First Choice Home Buyers claims to close on the house fast. They don’t require a mortgage to purchase the property. So, you eliminate mortgage contingencies from the process making it super quick.

With all the convenience and flexibility, you should also consider the potential drawbacks. First Choice Home Buyers offers between 50% and 70% of your home’s fair market value. That’s thousands of dollars less than your home’s worth.

✍️ Editor’s Take: We recommend you list your property on the cash buyer marketplace Houzeo. A marketplace creates a bidding war, so you can secure the highest possible value for your property. Compare First Choice Home Buyers vs. Houzeo.

Is First Choice Home Buyers Legit?

Yes, First Choice Home Buyers is a legitimate cash buyer company accredited by BBB with an A+ rating. As per their website, the company is owned by 3 individuals. However, we couldn’t find any information about the owners.

First Choice Home Buyers has been working as a cash buyer for more than 20 years. The company claims that they offer services other than cash buying. However, no information is disclosed about these services.

Types of Properties First Choice Home Buyers Purchases

First Choice Home Buyers purchases all kinds of homes, including single-family, multi-family, townhouses, apartments, etc. They even buy vacant lots if there’s a possibility of redevelopment.

First Choice Home Buyers purchases properties as is. You can also sell inherited properties or homes that are on the verge of foreclosure. Overall, no matter what your situation is, they’ll likely buy your property.

How Does First Choice Home Buyers Work?

You can sell to First Choice Home Buyers in the following 3 steps:

• Get an Offer: Contact First Choice Home Buyers to start the process. Unlike other cash buyers, they don’t necessarily visit you for the home inspection. They can extend offers online using their estimation tools.
• Review Your Offer: Once you get an offer, you have 3 days to review it. However, you are under no obligation to accept it. So, if the offer doesn’t meet your expectations, you can walk away.
• Close on the House: If you accept the deal, you can close on the house. Although First Choice Home Buyers doesn’t guarantee a closing timeline, typically these transactions don’t take more than 2 weeks.

First Choice Home Buyers Coverage

First Choice Home Buyers operates in the central region of Pennsylvania. The markets they cover are:

• Dauphin County (Including Harrisburg, PA)
• York County
• Lancaster County
• Cumberland County
• Adams County
• Franklin County
• Lebanon County

Most Americans can’t leverage First Choice Home Buyers’ services due to their limited coverage. If you also want to sell outside their coverage area, you should look for alternate companies.

How Much Does First Choice Home Buyers Pay?

Cash buyers often use the “70% rule” as a formula to calculate their offers. This rule suggests that a real estate investor should pay no more than 70% of the after-repair value (ARV) of a property minus the repairs cost. The formula is expressed as follows:

Maximum Offer = ARV × 0.7 − Cost of Repairs

The offer you receive can be influenced by the condition or financial status of your property. So, if your home requires significant repairs or is at risk of foreclosure, the offer may be lower than expected.

The current market condition, local real estate trends, and seasonal variations also impact the offer. Therefore, job growth or project development might give you an edge. Conversely, if the conditions are not on your side, the offer can be further lowballed.

First Choice Home Buyers Reviews

First Choice Home Buyers has a 4.6 out of 5-star rating based on 55 reviews on Google. They also have 2 reviews on Yelp with a 3 out of 5-star rating.

Positive reviews of First Choice Home Buyers reflect their smooth home-selling process. However, negative feedback emphasizes issues such as poor time management.

First Choice Home Buyers Positive Reviews

✅ Celeste had a great experience with First Choice Home Buyers. She highlighted the streamlined communication throughout the entire process.

✅ Raymond expressed immense satisfaction with First Choice Home Buyers. He praised them for making the selling experience exceptionally smooth, and stress-free.

First Choice Home Buyers Negative Reviews

❌ Robin expressed disappointment due to a missed appointment, lack of communication, and overall poor service. He questioned the authenticity of the company’s high rating based on his own negative experience.

❌ Michael felt deeply disappointed by First Choice Home Buyers. The company gave a lowball offer saying the house needed heavy repairs. However, they were able to sell the house as is for a huge profit.

Pros and Cons

Here are the pros and cons of First Choice Home Buyers:

👍 Pros

• Hassle-free Sale: As First Choice Home Buyers buy houses as is, the entire home selling process becomes easy.
• Quick Closing: Cash buyers like First Choice Home Buyers typically close on the house within 2 weeks.
• No Commissions: First Choice Home Buyers doesn’t charge agent commission or any other closing costs.
• No Financial Contingencies: Cash buyers don’t rely on mortgage approvals. This minimizes the uncertainties associated with loan approvals.

👎 Cons

• Lowball Cash Offers: First Choice Home Buyers view your house as an investment opportunity. So, your offer price can be much lower than the market price of your property.
• No Scope for Negotiation: With cash-for-homes companies like First Choice Home Buyers, you don’t have room to negotiate your cash offer.
• Limited Coverage: First Choice Home Buyers operates only in central Pennsylvania.

First Choice Home Buyers Competitors

» Jump to: First Choice Home Buyers vs. Houzeo | First Choice Home Buyers vs. Integrity First Home Buyers | First Choice Home Buyers vs. Opendoor

If the services of First Choice Home Buyers didn’t excite you, here are 3 alternate companies you can consider:

1. First Choice Home Buyers vs. Houzeo

While First Choice Home Buyers gives you 1 non-negotiable offer, Houzeo acts as a cashbuyer marketplace. Top cash buyers in the market like Opendoor and HomeVestors extend offers on Houzeo’s MLS listings. This creates a bidding war and you get better offers.

With Houzeo, you also get a chance to showcase your property to home buyers who can buy your home for 100% FMV. Moreover, Houzeo’s tech and mobile app help you sell easily and effectively.

2. First Choice Home Buyers vs. Integrity First Home Buyers

First Choice Home Buyers doesn’t guarantee the closing timeline. Whereas, Penssylvenia-based Integrity First Home Buyers closes within 7 days of offer acceptance.

During our research, we found that both companies extend similar offers. Therefore, you should compare the offers from both companies and see which one provides better value for your home.

3. First Choice Home Buyers vs. Opendoor

First Choice Home Buyers is a cash buyer. On the other hand, Opendoor is an iBuyer. Opendoor offers around 70% to 80% of your home’s worth. Moreover, they claim to close on the house in 8 days. This is perfect for sellers on a time crunch.

However, Opendoor’s home purchase criteria are stringent. If your property needs repairs, they aren’t the ideal choice for you. Moreover, you also have to pay a 5% service fee which you can save with First Choice Home Buyers.

Companies That Buy Houses for Cash Near Me 🔎

Other Options You Should Consider

• Sell For Sale By Owner: For Sale By Owner websites help you list and sell a house yourself, saving thousands in agent commissions. As one-third of home buyers pay in cash, you can get 100% FMV of your house in cash by selling FSBO.
• Sell Through a Realtor: Traditional Realtors list your property on the MLS and help you at every step of home selling. However, you have to pay them 3% of the home’s sale price for this convenience.
• Sell Through Discount Realtors: Discount real estate brokers reduce their commissions to offer affordable services. Their commission varies between 0.5% and 2%.

Is First Choice Home Buyers Worth It?

First Choice Home Buyers is a good option if you are in a rush and want to sell your home quickly. It works great, especially if you are planning to move or want to avoid foreclosure. However, you should be ready to lose your home’s equity.

If you don’t want to compromise thousands of dollars, you should list your home on the MLS. An MLS listing gives you wide exposure to cash buyers, which means a better offer on your home. And the best way to do it is with an FFM company like Houzeo.

With Houzeo, you can get listed for a nominal flat fee. Top cash buyers extend offers on Houzeo’s MLS listings. So, you can compare offers and grab the best deal. Moreover, you can also get a non-contingent cash offer from buyers with 100% FMV of your house.

» Houzeo Reviews: See how Houzeo has helped more than 7,000 home sellers get top dollar for their homes.

Frequently Asked Questions

Write a Review

Please give a rating

Name Your name is required

Write a review for First Choice Home Buyers Write a comment

Verify & Submit

Thank You!

Your review has been submitted.

It will be published within 24 hours.

Okay