Clever's Real Estate Experts compiled objective overviews of five companies that buy houses for cash in Idaho. Our assessments are based on publicly available information — we've sifted through everything to present the pertinent factors you need to know to make a decision.
The traditional home selling process doesn't work for everyone. In Idaho, a typical home sale can take 97 days from listing to closing. Some homeowners can't wait that long.
Enter "we buy houses for cash" companies.
These, and other types of cash buyers, offer a fast solution for homeowners. They purchase houses "as-is" — that is, in their current condition, without any repairs or prep — and pay in cash, so sellers don't have to wait for a buyer to get a mortgage approval. The process is quick, easy, and requires no repairs or home prep.
Key Benefits of "We Buy Houses for Cash" Companies
- A quick sale: Cash buyers are able to avoid some of the most lengthy parts of closing a real estate transaction (like waiting for financing approval). In Idaho, some companies can buy a home in as few as 7 days instead of over 3 months.
- No stressful repairs: Since these companies buy homes "as-is", homeowners don't have to spend time and money finding, hiring, and overseeing a construction crew.
- Higher certainty: There's always a chance a typical buyer won't be approved for their mortgage or will back out of the sale. "We buy houses for cash" companies are investors; if they make an offer on a home, they're ready to close the deal.
For home sellers who need to sell in a hurry, want to avoid repair costs, or are looking for a more convenient selling method, a cash buyer can be a great option. But they're not right for everyone.
To ensure a profit, "we buy houses for cash" companies make offers that are well under fair market value. The speed and convenience they offer doesn't always outweigh the hit you could take to your bottom line.
In this article, we explain how "we buy houses" companies work, review five legitimate companies in Idaho, and break down examples to help you understand how much you can make selling to a cash buyer compared to other alternatives.
Read on to make an informed decision — and maybe find the buyer for your home!
JUMP TO SECTION
How We Buy Houses for Cash Companies Work
While the smaller details and timeline varies from company to company, "we buy houses for cash" companies all share a basic business model.
- After being contacted by an interested home seller, the cash buyer assesses the property, focusing on factors like necessary repairs and the potential resale value.
- Based on the amount of time and money they'll need to invest in the property, the investor makes an "as-is" cash offer.
- If the homeowner accepts, the deal can close quickly because there's no need to negotiate, wait for financing approval, or inspect and appraise the property.
- The cash buyer repairs the home and then resells it for a profit.
The quick process benefits homeowners who don't have the resources or time for a traditional sale.
For perspective, in Idaho houses typically spend 52 days on the market before the seller accepts an offer. Then there's the closing process, which takes between 30 to 45 days if the buyer is applying for a mortgage. That means it can take the typical seller up to 97 days to finalize the sale.
In comparison, some "we buy houses for cash" companies in Idaho can complete the whole process in as few as 7 days.
Traditional Home Selling Timeline vs. "We Buy Houses for Cash" Companies
| Prepping the House | Time to Offer | Closing Process | |
| Traditional Process | Depending on the condition of your home, repairing and preparing it for sale can take months. | 52 days. | 30-45 days |
| "We Buy Houses for Cash" Process | Not necessary. These investors buy homes "as-is". | Once the company evaluates the home, it often makes an offer within 24 hours. | As few as 7 days in Idaho |
Many "we buy houses for cash" companies advertise that they'll send you an offer in as few as seven minutes. This is not an official offer.
After talking to a company representative, they'll give a ballpark estimate of what they'll pay. Very few investors will make a binding offer sight-unseen — and if they do it'll be substantially lower to account for possible issues.
Once you schedule an in-person inspection, the investor will present a legal offer, often on the spot.
Also, know some of the bigger, well-known companies aren't the actual buyers. They are a network of local investors, or they collect interested sellers' information and pass it on to flippers. In these cases, how long the process takes will depend on the investor in your area.
For example, we called five "we buy houses for cash" companies that advertise offers in less than an hour — none of them responded within that time frame.
>>LEARN how "we buy houses for cash" companies work
We Buy Houses Companies in Idaho: Reviews
DISCLAIMER: We've compiled objective, public information from cash buyer services in Idaho to help you compare options and make informed decisions. We recommend reaching out to these companies directly to learn more. The information below is up to date as of July 1, 2020.
We Buy Houses
We Buy Houses
WebsitePhone number
(877) 932-8946
Time to offer
24–48 hours
Time to sale
7–14 days
We Buy Houses vets all of its investors and gives them an exclusive license to operate in its territory, so investors who use the brand name have an incentive to work hard in order to maintain their advantage. The company provides offers in just one to two days and can close in a few weeks.
We Buy Houses is a national property investor that buys homes for cash throughout the U.S. To sell your home to We Buy Houses, you can:
- Submit an online form, giving details about your property
- Set up an appointment for an investor to view your home
- Receive a no-obligation offer
- Choose a closing date and sell your home
We Buy Houses operates in 200 markets in over 30 states.
Reviews online are available only for local franchises.
The vast majority are positive, with customers saying that the We Buy Houses investor they worked with was fast and professional.
Treasure Valley Property Solutions
Treasure Valley Property Solutions
Treasure Valley Property SolutionsPhone Number
(208) 287-5450
Time to Offer
24 hours
Time to Sale
7 days
Treasury Valley Property Solutions is an Idaho based property investor that buys homes for cash in select cities across Idaho. If you wanted to sell your home to Treasury Valley Property Solutions, you could expect to:
- Fill out an online form providing basic information
- Schedule an in-person appointment to inspect your home
- Receive a cash offer no more than 24 hours later
- Close in 7 days, or on your own schedule
Treasure Valley Property Solutions buys houses exclusively within Idaho.
Treasure Valley Property Solutions received an average of 3 stars from 40 customer reviews. It's accredited by the Better Business Bureau and it has an A+ rating.
Google: 1.9 stars/30 reviews
Facebook: 4.2 stars/10 reviews
Talk with the Clever Concierge Team and find your selling best option
We Buy Ugly Houses
We Buy Ugly Houses
Full reviewTime to offer
Varies
Minimum closing time
3 weeks
Closing costs
No cost for seller
We Buy Ugly Houses has a better reputation than most individual cash buyers, but your experience can vary based on the quality of the local franchise. While We Buy Ugly Houses can close in as little as three weeks, it pays far less than fair market value.
Pros
- Trusted, nationally recognized brand
- No need to worry about repairs
- Close in just three weeks
Cons
- Quality of service may vary between franchises
- Pays far less than fair market value
We Buy Ugly Houses has over 800 independently owned and operated franchises across 47 states and Washington, DC.
As of October 2022, We Buy Ugly Houses's parent company, Homevestors, has an A+ rating on the Better Business Bureau. No other third-party reviews are available at this time.
This rating is based on overall national data. Research local franchises for specific reviews that reflect their quality of service.
- Website: webuyuglyhouses.com
- Phone: (866) 288-9516
Boise House Buyers
Boise House Buyers
Boise House BuyersPhone Number
(208) 314-1350
Time to Offer
7 minutes
Time to Sale
7 days
Boise House Buyers is a local, Idaho property investor that buys homes for cash in select cities across the state. To sell your home to Boise Home Buyers you can:
- Fill out their online form with basic information
- Receive a follow-up call to discuss your home in detail
- Expect to receive an offer and close in as little as 7 days
For more information, including specific areas of operation, terms of service, and other details, we recommend reaching out to the company directly.
Boise House Buyers operates exclusively in Idaho.
Boise House Buyers received an average of 4.9 stars from 28 customer reviews. It's accredited by the Better Business Bureau and it has an A+ rating.
Google: 5 stars/3 reviews
Facebook:
4.8 stars/25 reviews
Finally Sold
Christopher Ellyn Homes
WebsitePhone Number
(317) 526-5715
Time to Offer
24 hours
Time to Sale
7 days
Christopher Ellyn Homes is a local buyer that can close on homes in just three days, which is much faster than most other "we buy houses" companies.
Christopher Ellyn Homes is a nationwide property investor based in Indiana that buys homes for cash in select cities across the country. To sell your home to Christopher Ellyn Homes, you can:
- Fill out an online form providing basic information
- Schedule an in-person appointment to inspect your home
- Receive a cash offer no more than 24 hours later
- Close in 7 days, or on your own schedule
For more information, including specific areas of operation, terms of service, and other details, we recommend reaching out to the company directly.
Christopher Ellyn Homes is based in Indiana, but buys homes in St. Louis, Honolulu, Las Vegas, Louisville, and more. Check their website for a specific list of all locations they service.
Christopher Ellyn Homes received an average of 4.2 stars from 87 customer reviews. It's accredited by the Better Business Bureau and it has an A+ rating.
Google: 4.2 stars/46 reviews
Facebook: 4.6 stars/36 reviews
Yelp: 4 stars/5 reviews
>>LEARN more about national "we buy houses for cash" companies
How Much Will We Buy Houses for Cash Companies in Idaho Pay?
"We buy houses" companies use the 70% rule to ensure they'll make a profit. Basically, the 70% rule says the buyer shouldn't pay more than 70% of the home's After Repair Value (ARV) — what they hope to sell the house for — minus repairs.
Selling a House to a Cash Buyer in Idaho: 2 Examples
"We buy houses for cash" companies use home values of comparable properties to estimate ARV. Assuming your house is the same size and has the same layout as most homes in your area, your city's average home value is more or less the ARV a cash buyer is shooting for.
However, the cost of necessary repairs will significantly impact the offer you receive.
For many sellers, being unable to pay for repairs limits their options. You need to consider whether paying for repairs out-of-pocket is an option before deciding to sell to a cash buyer.
Let's look at some examples of cash offers a home seller could expect in different Idaho cities versus what it would cost to pay for repairs out-of-pocket.
Home in Boise in Need of Major Repairs
Say your home is in Boise, where the average home value is $345,875. Your house needs a new roof (average repair cost: $565), a kitchen remodel ($14,626), foundation repairs ($1,726), and sod installed on the lawn ($1,872).
Here's how a cash buyer will calculate their offer:
| ARV | $345,875 |
| 70% of ARV | $242,113 |
| Cost of Repairs | $18,789 |
| Max. Cash Buyer Offer | $223,324 |
Cost of repairs based on HomeAdvisor Local averages (June 2020)
The offer may seem low, but most homeowners don't have almost $19,000 to pay for the repairs. In addition, more extensive repairs can easily get out of hand and exceed the average (i.e. a kitchen remodel with new cabinets, counters, and appliances can cost upwards of $50,000).
To avoid that out-of-pocket expense and the risk of spending more than you'll get back, in this example, it's understandable why a seller would accept an offer that is about 35% below fair market value.
If the cost of fixing your home is similarly high, selling to a "we buy houses for cash" company may be your best option.
Home in Lewiston in Need of Minor Repairs
In Lewiston, the average home value is $259,592. If your house needs minor repairs like new carpeting ($1,426) and a fresh coat of paint ($2,485), here's how a cash buyer will calculate their offer:
| ARV | $259,592 |
| 70% of ARV | $181,714 |
| Cost of Repairs | $3,911 |
| Max. Cash Buyer Offer | $177,803 |
Cost of repairs based on HomeAdvisor State averages (June 2020)
In this case, the total cost of professional repairs is $3,911, but the offer is 32% below fair market value.
Instead of selling to a "we buy houses" company and losing almost $82,000, it might be a better option to pay for the repairs, make some minor fixes yourself, or offer traditional buyers a repair credit.
Are "We Buy Houses for Cash" Companies Scams?
Many "we buy houses for cash" companies in Idaho are safe and completely legal. They provide a valuable service to homeowners who need to sell their homes quickly or can't afford to make repairs. Many local cash buying companies are family owned and work with sellers to meet their closing and moving timelines.
That being said, as with any industry, there are bad apples. If a "cash buyer" approaches you, check that they have an established web presence and customer reviews before giving them your personal information.
Also read all the fine print on any contract they present you. Look up words or terms you don't understand. And never assume the contract says what you agreed to verbally.
Most importantly, look at the contract's contingencies. These are the conditions that allow the buyer to back out of the sale or change the terms. Unless you understand the contingencies, you could be taken advantage of.
How Much Does Selling to a Cash Buyer Cost?
Every real estate transaction has costs that can add up quickly. Expenses like closing costs, repairs, and real estate agent commissions can eat away at your profits.
Luckily, when you sell to a "we buy houses for cash" company, you avoid many traditional selling costs like:
- Realtor commissions
- Closing costs
- Staging
- Seller concessions
When you add all these expenses up, selling to a cash buyer can have significantly fewer costs than a typical home sale. However, given the lower sale price of selling to a "we buy houses" company, the savings don't always make up the difference.
Let's take a look at four different ways to sell your home and how the costs compare:
Selling Cost Comparison in Idaho
| Selling to a "We Buy Houses" Company | Selling with Clever | Selling with a Traditional Realtor | |
| Sale price (compared to fair market value) | 70% max. | 100% | 100% |
| Closing Costs | 0% | 1-3% | 1-3% |
| Seller Concessions^ | 0% | 2.1-3.0% | 2.1-3.0% |
| Commissions/Service Fees^ | 0% | 1.5% listing fee + 2.8% buyer's agent commission | 5.0-5.8% |
| Max Take Home | 70% max | 93% max | 92% max |
^Idaho seller concessions and commission rates based on a Clever survey of 500+ real estate agents
Repair Costs
Many cash buyers advertise that home sellers do not have to pay for repairs. And it's true. You don't have to open your wallet and pay for a contractor or repair supplies. However, since cash buyers take on these costs themselves, their offers are lower to make up the difference.
So when selling your home, consider the different ways necessary repair costs impact your bottom line — both positively and negatively.
| Typical Repair Cost | Pros | Cons | |
| Making Repairs Before Listing | Varies based on home's condition. | You can list your home for more. | No guarantee your final sale price will cover the cost of the repairs. |
| "We Buy Houses" Company | Varies based on home's condition. But the more that needs to be done, the lower their offer will be. | No hassle of dealing with contractors and no uncertainty of paying for repairs that don't lead to a higher sale price. | As professional house flippers, "we buy houses" companies can have repairs done for less than you. However, their offer may not reflect the discount they receive. |
| Offering Repair Credits | In the U.S., sellers typically agree to $5,000+ in repair credits. | Instead of paying for repairs, a credit passes the responsibility and risk to the buyer. | There are limitations on how you can offer repair credits. Depending on the buyer's lender, you might have to write a check to a contractor chosen by the buyer. |
+Based on a Clever survey of 500+ agents; 80% in the U.S. said repair credits rarely exceed $5,000.
Carrying Costs
Many homeowners sell to a "we buy houses for cash" company because speed is their biggest priority. They might need to sell quickly to avoid foreclosure or to get out from under the costs of owning an unwanted property, also known as carrying costs.
Every day you wait to close your sale, you lose money on carrying costs. Here's how those costs break down in Idaho.
Average Carrying Costs in Idaho
| Mortgage Payment: $29 |
| Homeowners Insurance: $5 |
| Utilities: $12 |
| Property Taxes: $6 |
| Maintenance: $7 |
| Total Cost per Day: $60 |
Carrying costs based on data from the U.S. Census, Insurance.com, Move.org, WallerHub, and Clever Real Estate
Now let's look at how these costs can add up depending on how long it takes to sell your home in Idaho.
Total Carrying Costs
| Selling Method | Time to Offer | Time to Close | Carrying Costs |
| "We Buy Houses for Cash" | 1 day (pending home evaluation) | 7-30 days | $480-$1,860 |
| Traditional Agent | 52 days | 30-45 days | $4,920-$5,820 |
| Clever Partner Agent | 13 days* | 30-45 days | $2,580-$3,480 |
*Based on the average time it takes for homes listed with Clever to receive an offer
Total Selling Costs in Idaho
Let's get down to brass tacks: How much can you expect to make selling your home to a cash buyer versus with an agent on the open market?
Looking at an example with actual numbers will help you see if selling to a "we buy houses for cash" company is really worth it for your situation.
Here's how much a seller in Idaho can walk away with using the state's median sale price of $327,000 and its average selling cost rates (closing costs, repair costs/credits, carrying costs, etc.).
Idaho Cost Breakdown
| Selling to a "We Buy Houses" Company | Selling with a Traditional Realtor | Selling with Clever | |
| Sale price | $196,200* | $327,000 | $327,000 |
| Repair Costs | $0 | $5,000 | $5,000 |
| Seller Concessions | $0 | $8,339 | $8,339 |
| Staging Costs^ | $0 | $1,144 | $1,144 |
| Closing Costs | $0 | $6,540 | $6,540 |
| Carrying Costs | $480 | $4,920 | $2,580 |
| Commissions/Service Fees | $0 | $17,527 | $12,156 |
| Take Home | $195,720 | $283,530 | $291,241 |
*Based on the 70% rule and assuming the house needs 10% of its ARV in repairs
^Based on HomeAdvisor national average
Pros and Cons of We Buy Houses For Cash Companies in Idaho
Pros
- Fast, certain cash offers: After viewing your home, most "we buy houses for cash" companies will give you an offer within 24 hours. And unlike other buyers, there's no chance of the deal falling through because a mortgage application is denied or the buyer getting cold feet.
- Sell your home "as-is": If you don't have the time or money to make significant repairs to your house, a "we buy houses for cash" company could be your best option. While their offer will account for the cost of repairs, they'll buy homes regardless of their condition.
- Schedule your own closing date: Instead of going through the typical 30-45 day closing process, you can schedule a day to close in as few as 7 days.
- Low closing costs: Most "we buy houses for cash" companies will cover typical closing costs. This can save you 1-3%.
Cons
- Lower offers: Cash buyers are property investors. To ensure they make a profit, their offers will likely follow the 70% rule (at most 70% of the home's ARV, minus the cost of repairs).
- No negotiating: You can either take an offer from a "we buy houses for cash" company or leave it. They don't negotiate, even if you disagree with their evaluation of the property.
- Predatory tactics: Many sellers considering a cash buyer are in a difficult situation. You might be facing foreclosure or not have enough money to sell the traditional way. "We buy houses" companies know this and some might try and take advantage of your situation. Never sign anything because you feel pressured and be prepared to walk away if something doesn't feel right.
>>LEARN about more cash buyer pros and cons
Alternatives to We Buy Houses for Cash in Idaho
Many homeowners turn to "we buy houses for cash" companies because they think it's their only option. They need to sell quickly and can't afford to make repairs.
However, there are other ways to sell fast without sacrificing the amount of money you make off the sale.
Traditional Agents
In general, it takes longer to sell a house with an agent than to sell directly to a cash buyer. But there are realtors who specialize in quick sales. With a little research, you could find an experienced agent who can sell your home "as-is" in a matter of days.
»FIND: Top Real Estate Agents in Idaho
Hiring an agent does mean paying commissions, which can eat into your profits. In Idaho, expect to pay 5.0-5.8% of your sale price in realtor fees.
>> LEARN more about real estate commission
Clever
Clever can connect you with top agents in Idaho based on your unique needs. If you need to sell your house fast, Clever will put you in touch with a local agent who has proven they can get offers in a matter of days or even hours.
Plus, with Clever, you save on listing commissions meaning more money in your pocket at the end of your sale.
Clever Real Estate
Get Started💲 Listing Fee
1.5% ($3,000 min.)
💰 Buyer Savings
Cash back after closing
⭐ Avg. Customer Rating
4.9/5 (1,995 reviews)
Clever is a quick, easy, and free way to find a top-rated local agent. And, unlike many similar companies, Clever pre-negotiates big discounts on your behalf, so you can save thousands without sacrificing on service.
- Clever is a free, nationwide agent matching service that partners with full-service local agents from conventional brokerages like Keller Williams, Century 21, and RE/MAX.
- You get multiple agent matches so you can interview several, compare marketing plans, and choose the best fit.
- Clever pre-negotiates low rates on your behalf — you get full service for just a 1.5% listing fee ($3,000 minimum).
- If you buy with Clever, you can get cash back to help pay for your move.
- You may not get matched with an agent from your preferred real estate brokerage.
- Agents may not provide premium services like drone photography and professional home staging.
As of 10/21/2022, Clever has a 4.9 out of 5 rating on Trustpilot, based on 1,844 reviews.
Clever has pre-negotiated low commission rates with top agents in all 50 states and Washington, DC.
Get a no-obligation consultation to see how Clever can sell your home fast