Top 6 We Buy Houses for Cash Companies in Indianapolis, IN (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 Indianapolis | 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 Indianapolis, it can take 82 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 Indianapolis We Buy Houses companies

We've compiled objective, public information from cash buyer companies in Indianapolis 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.

Ben Buys Indy Houses

Ben Buys Indy Houses

Ben Buys Indy Houses

Phone Number

(317) 455-6768

Time To Offer

N/A

Minimum Time To Sell

7 days

Description
Locations
Reviews

Ben Buys Indy Houses is a local property investor that buys homes for cash in Indianapolis. To sell your home to Ben Buys Indy 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


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

Ben Buys Indy Houses buys homes in Indianapolis and the following areas:

Fishers
Greenwood
Avon
Anderson
Carmel
Mishawaka
Brownsburg
Elkhart
Lawrence
South Bend

As of 7/13/2020, Ben Buys Indy Houses has an average rating of 4.4/5 based on 71 reviews across Google, Yelp, and Facebook.

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Simple Quarters

Simple Quarters

Simple Quarters

Phone Number

(317) 586-4008

Time to Offer

Undisclosed

Minimum Time to Sell

Undisclosed

Details
Locations
Reviews

Simple Quarters is an Indiana based local property investor that buys homes for cash in any major Indiana locale. The selling process entails:

  • Filling out an online form providing your contact information
  • Receiving a call from a Simple Quarters representative to discuss your home and walk you through the process

Simple Quarters operates primarily in Indianapolis, but buys houses throughout the state of Indiana.

As of May 2021, Simple Quarters has an average rating of 4.9/5 based on 326 customer reviews across Google and Trustpilot.

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Ittenbach Capital, LLC

Ittenbach Capital, LLC

Ittenbach Capital, LLC

Phone Number

(317) 731-2540

Time To Offer

48 hours

Minimum Time To Sell

7 days

Description
Locations
Reviews

Ittenbach Capital, LLC is a local property investor that buys homes for cash in Indiana and other states. To sell your home to Ittenbach Capital, LLC, 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.

Ittenbach Capital, LLC buys homes in the following areas:

Indiana

IndianapolisFort WayneNoblesville
Avon
GreenfieldPlainfield
BrownsburgGreenwoodSpeedway
CarmelLawrenceFishers


Florida
Fort Myers


Ohio
Columbus


Missouri
Kansas City

As of 7/13/2020, Ittenbach Capital, LLC has an average rating of 4.4/5 based on 71 reviews across Google, Yelp, and Facebook.

Google: 4.8/5 (53 reviews)
Facebook: 3.2/5 (13 reviews)
Yelp: 3/5 (5 reviews)
BBB: A+

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Christopher Ellyn Homes

Christopher Ellyn Homes

Christopher Ellyn Homes

Phone Number

(317) 526-5715

Time to Offer

24 hours

Time to Sale

3 days

Details
Locations
Reviews

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.

As of May 2021, Christopher Ellyn Homes has an average very positive rating based on 54 customer reviews across Facebook and Google.

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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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Fast Home Offer

Fast Home Offer

Fast Home Offer

Phone Number

888-424-4722

Time to Offer

1-2 days

Time to Sale

7-14 days

Details
Locations
Reviews

Fast Home Offer is a national service that has partnered with local investors across the country to buy houses for cash.

Steps to sell with Fast Home Offer:

  1. Submit a form on Fast Home Offer's website, and a local investor will contact you to gather more information about your home
  2. It's possible that a cash offer can be made on the phone, but if not, schedule a visit for the investor to view the property. After the property is evaluated, the investor may present an offer
  3. Once an offer is accepted, a closing date can be set within 7-14 days, depending on your individual situation

As of May 2021, Fast Home Offer has an A+ rating on the Better Business Bureau.

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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
37 days*
2-3 days
Closing Process
30-45 days
7-10 days
Minimum Time to Sell
82** 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 Indianapolis 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 Indianapolis 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 Indianapolis, a home typically spends 37 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.

Indianapolis 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 Indiana, it's common to offer 1.3-2.0% 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 Indiana is 5.9%. 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 $55 a day in Indiana, 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*
1.3-2.0%
0%
Agent Commissions*
5.9%
0%
Carrying Costs**
$55 per day
($3,685 total)
$55 per day
($550 total)
*Indiana 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%
1.65%
Commissions/Service Fees
0%
5.9%
Max Take Home
60% max
79% max
*Compared to fair market value

Alternatives to We Buy Houses companies in Indianapolis

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 Indianapolis 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 Indianapolis, which is $275,000, and relevant selling cost rates (closing costs, repair costs/credits, carrying costs, etc.)

Indianapolis home selling cost breakdown


We Buy Houses
Traditional Realtor
Clever Real Estate
Sale Price*
$192,500
$275,000
$275,000
Seller Concessions
$0
$4,538
$4,538
Staging Costs^
$0
$1,409
$1,409
Closing Costs
$0
$5,500
$5,500
Carrying Costs
$550
$3,685
$2,976**
Commissions/Service Fees
$0
$16,152
$10,993
Take Home
$191,950
$216,217
$222,085
*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 Indianapolis We Buy Houses companies

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

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 Indianapolis

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.