Top 5 We Buy Houses for Cash Companies in Cleveland, OH (2021 Rankings)

Jamie Ayers

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Jamie Ayers

May 26th, 2021
Updated May 26th, 2021

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The best We Buy Houses companies in Cleveland | How they work | Costs | Pros and cons | Alternatives | FAQs

When you need to sell your house fast or can't afford massive repairs, selling to a We Buy Houses for Cash company may be your only option. In Cleveland, it can take 81 days to sell your home with a traditional agent. Compare that to a cash buyer that can complete the transaction in one to two weeks, with no out-of-pocket expenses.

Unfortunately, you’ll get (at most) 70% of your true home value from a We Buy Houses company. Many sellers can make far more on their home sale with a different approach.

For example, if you have an extra two to three weeks to sell, Clever can connect you with a full-service real estate agent with a proven track record of selling homes in your area quickly and for top dollar. Clever also pre-negotiates lower commission fees of 1% or $3K with its network of agents.

Top Cleveland We Buy Houses companies

We've compiled objective, public information from cash buyer companies in Cleveland to help you compare options and make an informed decision.

✍️ Editor’s note
These businesses make few public disclosures, so it can be difficult to find information. We recommend contacting multiple companies for terms and offers on your property to get the best deal.

Cash Home Buyers Cleveland

Cash Home Buyers Cleveland

Cash Home Buyers Cleveland

Phone Number

(216) 302-7087

Time To Offer

N/A

Minimum Time To Close

14 days

Description
Locations
Reviews

Cash Home Buyers is a local property investor that buys homes for cash in the Cleveland metro area. To sell your home to Cash Home Buyers, 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


For more information, including specific areas of operation, terms of service, and other details, we recommend reaching out to the company directly.

Cash Home Buyers buys homes in the following Cleveland areas:

Cleveland Heights
Lorain
Elyria
Mentor
Euclid
Parma
Lakewood

As of 7/10/2020, there are no third-party reviews available for Cash Home Buyers. We will update when more information becomes available.

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SellYourClevelandHouse.com

SellYourClevelandHouse.com

SellYourClevelandHouse.com

Phone Number

(216) 452-8535

Time To Offer

24 hours

Minimum Time To Close

7 days

Description
Locations
Reviews

SellYourClevelandHouse.com is a local property investor that buys homes for cash in the Northeast Ohio area. To sell your home to SellYourClevelandHouse.com, 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


For more information, including specific areas of operation, terms of service, and other details, we recommend reaching out to the company directly.

SellYourClevelandHouse.com buys homes in the following Cleveland areas:

Olmsted
Oberlin
Westlake
Olmsted Falls
North Ridgeville
Strongsville
North Olmsted
Avon Lake
Rocky River
North Royalton
Avon
Lakewood
Sheffield Lake
Amherst
Bay Village

As of 7/10/2020, there are no third-party reviews available for SellYourClevelandHouse.com. We will update this when more information becomes available.

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We Buy Houses

We Buy Houses

Full Review

Time to Offer

24-48 hours

Minimum Closing Time

7-14 days

Closing Costs

No cost to seller

Editor's Take
Pros & Cons
Locations
Reviews
Contact

Working with We Buy Houses is more likely to be positive than working with a local private real estate investor. We Buy Houses vets all of their investors and gives them an exclusive license to operate in their territory, so investors who use the brand name have an incentive to work hard in order to maintain their advantage.

While We Buy Houses doesn't exercise control over how much their investors offer, they do reserve the right to rescind licenses if investors don't meet their ethical standards.

Pros

  • Offer in 24-48 hours
  • Vetted, reputable real estate investors
  • No need to worry about repairs
  • Close in just seven days


Cons

  • Little to no room for negotiation
  • Individual investors have different strategies, so they may value your home differently
  • Licenses are exclusive, so there is only one We Buy Houses option in your area

We Buy Houses has over 2,700 offices across 49 states.

Reviews online are only available on local Facebook pages.

The vast majority were positive, with customers saying that the We Buy Houses investor they worked with was fast and professional. The only negative review we found had to do with a customer who purchased a home from We Buy Houses and felt that the repairs they made before selling were cheap.

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Express Homebuyers

Express Homebuyers

Express Homebuyers

Phone Number

877-804-5252

Time to Offer

7 minutes

Time to Sale

7 days

Details
Locations
Reviews

Express Homebuyers is a national service that has partnered with local investors across the country to buy houses for cash.

Steps to sell with Express Homebuyers:

  1. Submit your home's information to receive an initial "as is" offer
  2. Meet with the local investor to assess your property and answer any questions
  3. Discuss the local investor's final cash offer and, if you're willing to sell, sign a sales agreement then and there
  4. Choose a closing day on your schedule
  5. Show up on the day of the sale to sign the paperwork and receive cash within hours

As of May 2021, Express Homebuyers had an average positive rating of based on 100+ reviews across Google and Yelp.

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We Buy Ugly Houses

We Buy Ugly Houses

Full Review

Time to Offer

Varies

Minimum Closing Time

3 weeks

Closing Costs

No cost for seller

Editor's Take
Pros & Cons
Locations
Reviews
Contact

We Buy Ugly Houses has a better reputation than most individual cash buyers, but the home seller's experience can vary based on the quality of their local franchise. While We Buy Ugly House can close in as little as three weeks, it's common knowledge that they pay 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 46 states.

As of April 26, 2021, 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.

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How We Buy Houses Companies work


Traditional Listing Process
We Buy Houses for Cash Process
Prepping the House
1 to 8 weeks
Immediate
Time to Offer
36 days*
2-3 days
Closing Process
30-45 days
7-10 days
Minimum Time to Sell
81** days
7-10 days
*Days on market based on Realtor.com metro-level data
**Assuming you can find a buyer who will buy your home as-is allowing you to avoid spending time on repairs.

To buy homes quickly and make a profit, most We Buy Houses for Cash companies in Cleveland use the same process:

  1. A homeowner submits information about their property, and the cash buyer decides if the home fits their criteria for a profitable investment. If the house fits the investor's criteria, they may give the seller a rough estimate of what they'll pay.
  2. A representative from the company will evaluate the property and, based on the repair costs and resale value, they'll make a cash offer.
  3. If the seller accepts, closing happens quickly; there's no need for inspections, appraisals, or financing approval.
  4. The Cleveland We Buy Houses for Cash company makes repairs and sells it, earning a substantial profit.

Compare this speedy process with the traditional home selling process:

  1. If your home needs extensive repairs, it can take months (and tens of thousands of dollars) to complete.
  2. In Cleveland, a home typically spends 36 days on the market before the seller receives an offer.
  3. The closing process can take an additional 30-45 days if the buyer applies for a traditional mortgage. You'll have to deal with appraisals, inspections, and further negotiations with the buyer.
  4. If financing is denied, or another issue occurs with the buyer, the house has to go back on the market and the cycle starts again.

Cleveland We Buy Houses companies pros and cons

We Buy Houses for Cash companies are an extremely beneficial option for certain sellers like:

  • Homeowners facing foreclosure
  • People who've inherited unwanted property
  • Homeowners who can't afford extensive repairs
  • Homeowners who need to sell fast, due to divorce or other issues

Pros of using We Buy Houses companies

  • Cash offers mean speed and certainty: The longest portion of the home selling process involves buyer financing. Cash buyers don't need to go through this lengthy process, though, since they have access to immediate capital.
  • No need for repairs: These companies make lower offers to account for repair costs. This solves the difficult problem of finding a buyer if you’re selling as-is on the open market.
  • Lower costs: Selling a house is expensive. There are associated costs like concessions, carrying costs, and commissions that reduce a seller's profits. We Buy Houses companies allow sellers to avoid those costs.

💰 Homeowners can usually avoid these expenses by selling to a cash buyer:

  • Closing costs: In most cases, We Buy Houses for Cash companies cover typical closing costs.

  • Seller concessions: During negotiations, sellers often agree to pay a percentage of the buyer's closing costs — also known as seller concessions. In Ohio, it's common to offer 2.5-3.3% in concessions to close the deal. Since there are no negotiations with a cash buyer, there's no need to offer seller concessions.

  • Agent commissions: The average commission in Ohio is 5.8%. Since selling to a We Buy Houses for Cash company doesn't require an agent, homeowners avoid paying commissions.

  • Carrying costs: Every day that a seller owns a home it costs money. Expenses like mortgage payments, insurance, and property taxes can add up to $58 a day in Ohio, on average. Since these companies close much faster than a traditional sale, the total carrying costs are lower.

Cost to sell to a cash buyer vs. a traditional sale


Traditional Sale
We Buy Houses for Cash Company
Closing Costs
1-3%
0%
Seller Concessions*
2.5-3.3%
0%
Agent Commissions*
5.8%
0%
Carrying Costs**
$58 per day
($3,828 total)
$58 per day
($580 total)
*Ohio seller concessions and commission rates based on a Clever survey of 500+ real estate agents
**Carrying costs based on data from the U.S. Census, Insurance.com, Move.org, WalletHub, and Clever Real Estate

Cons of using We Buy Houses companies

  • Take-it-or-leave-it offers: There is no negotiating with We Buy Houses for Cash companies. Their representatives evaluate your home and necessary repairs to arrive at a price. If you disagree, your only option is to walk away.
  • Predatory tactics: Often, homeowners who consider using these companies are facing difficult life situations. Some "opportunity investors" take advantage of these situations and pressure sellers to accept low offers.
  • Lower offers: Even by avoiding other selling costs, selling to a We Buy Houses company still leads to a lower take-home amount because their offers are never more than 70% of after-repair value (ARV).

Consider an example where the home needs 10% of its ARV in repairs. If you sold to a cash buyer, they would deduct that from their offer. If you sold with an agent you could cover that 10% in a variety of ways (by offering lower price, repair credits, etc.).


Selling to a We Buy Houses Company
Selling with a Traditional Realtor
Sale Price*
70% max
100%
Repair Costs
10%
10%
Closing Costs
0%
1-3%
Seller Concessions
0%
2.90%
Commissions/Service Fees
0%
5.8%
Max Take Home
60% max
77% max
*Compared to fair market value

Alternatives to We Buy Houses companies in Cleveland

We Buy Houses for cash companies are never your only option. It's important to weigh all important factors (like time to sell, take-home amount, and convenience) before making a decision.

Let's look at a breakdown of how much a seller in Cleveland could walk away with through three different options: selling to a cash buyer, selling with a traditional realtor, and selling with a discount real estate company like Clever.

We'll use the median listing price in Cleveland, which is $219,900, and relevant selling cost rates (closing costs, repair costs/credits, carrying costs, etc.)

Cleveland home selling cost breakdown


We Buy Houses
Traditional Realtor
Clever Real Estate
Sale Price*
$153,930
$219,900
$219,900
Seller Concessions
$0
$6,377
$6,377
Staging Costs^
$0
$1,409
$1,409
Closing Costs
$0
$4,398
$4,398
Carrying Costs
$580
$3,828
$3,138**
Commissions/Service Fees
$0
$12,847
$9,356
Take Home
$153,350
$169,051
$173,232
*Based on data from realtor.com
☨Based on the 70% rule and assuming the house needs 10% of its ARV in repairs
^Based on HomeAdvisor nationaal average
**Based on the average time it takes for homes listed with Clever to receive an offer 24.1 days and a 30-day closing process

As you can clearly see in the table above, We Buy Houses companies help people quickly sell their homes. However, your other options are much better in the long run, so if you have time, using a We Buy Houses company is almost never the best option.

💰 Clever can help you sell fast for a better price!

Cash buyers can be a good option if you need to unload an unwanted, distressed property fast. However, if you want to sell quickly without sacrificing a ton of equity, Clever is one of your best alternatives.

Clever sellers typically get offers 2.8 times faster than the national average AND save an average of $9,000 in realtor fees.

Frequently asked questions about Cleveland We Buy Houses companies

How much will We Buy Houses for Cash companies pay in Cleveland?

As real estate investors, cash buyer companies need a buffer that increases their chances of a profit. This is where the 70% rule comes in.

Essentially, the 70% rule says a cash buyer shouldn't pay more than 70% of the property's After Repair Value (ARV) — what they hope to sell the house for in a fair market — minus repairs. This gives them some wiggle room if the house's condition is worse than suspected or it takes longer to resell the home.

Are We Buy Houses for Cash companies scams?

Most cash buyers are legitimate companies that have been buying homes in their communities for years. But there are bad apples.

Don't be taken advantage of.

Make sure the offer you receive is legitimate and worth your consideration:

  • Never sign a contract without reading it or when you feel pressured to do so.
  • Check online reviews of the company. Note that many of these companies have similar names, so double-check that you're looking at the right one.

Additional resources for home sellers in Cleveland

Better real estate agents at a better rate

Enter your zip code to see if Clever has a partner agent in your area.

If you don't love your Clever partner agent, you can request to meet with another, or shake hands and go a different direction. We offer this because we're confident you're going to love working with a Clever Partner Agent.