The best We Buy Houses companies in Brooklyn | 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 Brooklyn, it can take 109 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.
Key Takeaways
- We Buy Houses companies can help you sell fast, but they're not a great deal in most cases
- You'll only get about 70% of the actual fair market value of your home by selling to one of these companies
- You should compare offers from We Buy Houses companies and iBuyers in your area to make sure you get a fair price. Get offers from top local cash home buyers now!
Top Brooklyn We Buy Houses companies reviews
We Buy Houses companies and other cash buyers allow you to sell your home fast — sometimes in a week or less. We've pulled together some of your best options in New York, but we recommend using Clever Offers if you want to get the most value for your home.
With Clever Offers, a local agent can shop for cash offers from the top We Buy Houses companies in Brooklyn on your behalf. You'll also get a professional home valuation so you know what your home is REALLY worth. Your agent can negotiate to get you a fair deal, or list your home on the open market if you want a higher sale price.
✍️ 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. |
Leave the Key Homebuyers
Leave the Key HomebuyersPhone Number
631-388-7771
Time to Offer
24 hours
Time to Close
5 days
Leave the Key Homebuyers is a local property investor that buys homes for cash in New York. To sell your home to Leave the Key Homebuyers, you can:
- Submit and online form, giving details about your property
- Schedule a meeting for a representative to see 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.
Leave the Key Homebuyers buys homes in the following New York metro areas:
We Buy Houses in NY
We Buy Houses in NYPhone Number
(718) 218-5592
Time to Offer
Undisclosed
Time to Close
14 days
We Buy Houses in NY is a local property investor that buys homes for cash in New York. To sell your home to We Buy Houses in NY, you can:
- Submit and online form, giving details about your property
- Schedule a meeting for a representative to see your home
- Receive a no-obligation offer
- Choose a closing date and sell your home
We Buy Houses in NY buys homes in the New York metropolitan area.
As of May 2021, there are no third-party reviews for We Buy Houses in NY available.
Fair Offer NY
Fair Offer NYPhone Number
(347) 685-9317
Time to Offer
7 minutes
Time to Sale
7 days
Fair Offer NY is a local, New York property investor that buys homes for cash in select cities across the state. To sell your home to Fair Offer NY you can:
- Reach out over the phone or through their online form to schedule an appointment
- Receive your cash offer at your appointment
- Close on your own schedule, as soon or late as is convenient
Fair Offer NY primarily buys homes in NYC, Westchester, Rockland, Putnam County & Long Island.
As of May 2021, no customer review information was available for Fair Offer NY. However, it has a rating of A+ with the BBB.
Sell Now Homebuyers
Sell Now HomebuyersPhone Number
(914) 559-2579
Time to Offer
24 hours
Time to Sale
21 days
Sell Now Homebuyers is a group of local, New York property investors that buys homes for cash in the New York tri-state area. To sell your home to Sell Now Homebuyers, expect to:
- Fill out their online form with home details
- Set up a call to discuss your offer, and accept or decline immediately
- Close in less than a month
Sell Now Homebuyers primarily operates in:
- New York City
- Hudson Valley
- New Jersey
- Connecticut
- And more - check the website for a complete list of locations.
Express Homebuyers
Express HomebuyersPhone Number
877-804-5252
Time to Offer
7 minutes
Time to Sale
7 days
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:
- Submit your home's information to receive an initial "as is" offer
- Meet with the local investor to assess your property and answer any questions
- Discuss the local investor's final cash offer and, if you're willing to sell, sign a sales agreement then and there
- Choose a closing day on your schedule
- Show up on the day of the sale to sign the paperwork and receive cash within hours
Express Homebuyers has partnered with local investors in the following states:
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 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.
While We Buy Houses doesn't exercise control over how much its investors offer, it does reserve the right to rescind licenses if investors don't meet its 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's only one We Buy Houses option in your area
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.
- Website: webuyhouses.com
- Phone: (877) 932-8946
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 | 64 days* | 2-3 days |
Closing Process | 30-45 days | 7-10 days |
Minimum Time to Sell | 109** 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 Brooklyn 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 Brooklyn 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 Brooklyn, a home typically spends 64 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.
Brooklyn 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* | 1.6-2.1% | 0% |
Agent Commissions* | 5.0% | 0% |
Carrying Costs** | $80 per day ($7,520 total) | $80 per day ($800 total) |
*New York 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% | 1.85% |
Commissions/Service Fees | 0% | 5.0% |
Max Take Home | 60% max | 80% max |
*Compared to fair market value | ||
Alternatives to We Buy Houses companies in Brooklyn
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 Brooklyn 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 Brooklyn, which is $670,000, and relevant selling cost rates (closing costs, repair costs/credits, carrying costs, etc.)
Brooklyn home selling cost breakdown
We Buy Houses | Traditional Realtor | Clever Real Estate | |
|---|---|---|---|
Sale Price* | $469,000☨ | $670,000 | $670,000 |
Seller Concessions | $0 | $12,395 | $12,395 |
Staging Costs^ | $0 | $1,409 | $1,409 |
Closing Costs | $0 | $13,400 | $13,400 |
Carrying Costs | $800 | $7,520 | $4,328** |
Commissions/Service Fees | $0 | $33,299 | $22,512 |
Take Home | $468,200 | $534,977 | $548,956 |
*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 Brooklyn We Buy Houses companies
How much will We Buy Houses for Cash companies pay in Brooklyn?
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.