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 HousesPhone Number
(317) 455-6768
Time To Offer
N/A
Minimum Time To Sell
7 days
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 |
Simple Quarters
Simple QuartersPhone Number
(317) 586-4008
Time to Offer
Undisclosed
Minimum Time to Sell
Undisclosed
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.
- Google: 4.8/5 (109 reviews)
- Trustpilot: 4.9/5 (217 reviews)
- BBB: A+
Ittenbach Capital, LLC
Ittenbach Capital, LLCPhone Number
(317) 731-2540
Time To Offer
48 hours
Minimum Time To Sell
7 days
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
| Indianapolis | Fort Wayne | Noblesville |
| Avon | Greenfield | Plainfield |
| Brownsburg | Greenwood | Speedway |
| Carmel | Lawrence | Fishers |
Florida
Fort Myers
Ohio
Columbus
Missouri
Kansas City
Christopher Ellyn Homes
Christopher Ellyn HomesPhone Number
(317) 526-5715
Time to Offer
24 hours
Time to Sale
3 days
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.
We Buy Houses
Full ReviewTime to Offer
24-48 hours
Minimum Closing Time
7-14 days
Closing Costs
No cost to seller
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.
- Website: https://webuyhouses.com/
- Phone Number: (877) 932-8946
Fast Home Offer
Fast Home OfferPhone Number
888-424-4722
Time to Offer
1-2 days
Time to Sale
7-14 days
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:
- Submit a form on Fast Home Offer's website, and a local investor will contact you to gather more information about your home
- 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
- Once an offer is accepted, a closing date can be set within 7-14 days, depending on your individual situation
Fast Home Offer has partnered with local investors in the following states:
As of May 2021, Fast Home Offer has an A+ rating on the Better Business Bureau.
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:
- 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.
- A representative from the company will evaluate the property and, based on the repair costs and resale value, they'll make a cash offer.
- If the seller accepts, closing happens quickly; there's no need for inspections, appraisals, or financing approval.
- 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:
- If your home needs extensive repairs, it can take months (and tens of thousands of dollars) to complete.
- In Indianapolis, a home typically spends 37 days on the market before the seller receives an offer.
- 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.
- 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:
|
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.
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.