Top 6 We Buy Houses for Cash Companies in Memphis

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By Chelsi Hewitt Updated April 11, 2024

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The best We Buy Houses companies in Memphis | 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 Memphis, it can take 98 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 Memphis 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 Tennessee, 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 Memphis 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.

Get fair cash offers today!

Use Clever's free, no-obligation service to compare cash offers from top local companies with the help of a local real estate agent. You'll get a professional home valuation so you know what your home is worth, and an agent can negotiate on your behalf to make sure you get the best deal.

Get Cash Offers

✍️ 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.
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Memfixerupper

Memfixerupper

Phone Number

(901) 437-0154

Time To Offer

24 hours

Minimum Time To Sell

48 hours
Description
Locations
Reviews

Memfixerupper is a local property investor that buys homes for cash in Memphis, Tennessee. To sell your home to Memfixerupper, you can:

  • Submit an 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.

Memfixerupper buys homes in the Memphis, Tennessee metro area.

Memfixerupper received an average of 5 stars from 83 customer reviews. It's accredited by the Better Business Bureau and it has an A+ rating.

Google: 5 stars/35 reviews Facebook: 5 stars/46 reviews Yelp: 5 stars/2 reviews

Moses Buys Houses

Moses Buys Houses

Phone Number

(855) 964-1121

Time to Offer

24 hours

Time to Sale

7 days
Details
Locations
Reviews

Moses Buys Houses is a property investor that buys homes for cash in parts of the South. In general, you can sell your house to Moses Buys Houses by:

  • Filling out a form about your property's details
  • Scheduling a property evaluation with the company
  • Reviewing Moses Buys Houses' cash offer
  • After accepting the offer, choosing a closing date that can be as soon as 7 days

Moses Buys Houses operates throughout the South, buying properties in:

Moses Buys Houses received an average of 5 stars from 3 customer reviews. It's not accredited by the Better Business Bureau but it has an A+ rating.

Google: 5 stars/3 reviews

Middle Tennessee Home Buyers

Middle Tennessee Home Bueyrs

Phone Number

(615) 492-6199

Time to Offer

24 hours

Time to Sale

5 days
Details
Locations
Reviews

Middle Tennessee Home Buyers is a local, Tennessee property investor that buys homes for cash in select cities across the state. To sell your home to Middle Tennessee Home Buyers you can:

  • Submit information about your property online or by phone and set up an appointment for an investor to see your home
  • Show your home to the investor and receive a no-obligation offer
  • Set a closing date on your own schedule as soon as 5 days after accepting the offer

Middle Tennessee Home Buyers purchases homes in the following areas: Nashville, East Nashville, Chattanooga, Clarksville, Columbia, Jackson, Knoxville, Memphis, Murfreesboro, and Tennessee.

Middle Tennessee Home Buyers received an average of 5 stars from 35 customer reviews. It's accredited by the Better Business Bureau and it has an A+ rating.

Google: 5 stars/34 reviews
Facebook: 5 stars/1 review

Nexus Homebuyers

Nexus Homebuyers

Phone Number

(855) 999-0025

Time to Offer

24 hours

Time to Sale

7 days
Details
Locations
Reviews

Nexus Homebuyers is a network of property investors that buys homes for cash in select states. To sell your home to Nexus Homebuyers you can:

  • Request an offer online or call to provide the details of your home
  • Meet with a Nexus Homebuyers employee to assess the property or submit photos online
  • Choose a closing date that works for your schedule

Nexus Homebuyers currently services:

Nexus Homebuyers received an average of 4.9 stars from 21 customer reviews. It's accredited by the Better Business Bureau and it has an A+ rating.

Google: 4.8 stars/20 reviews
Yelp: 5 stars/1 review

Express Homebuyers

Website

Phone Number

877-804-5252

Time to Offer

7 minutes

Time to Sale

7 days
Why we chose it
Details
Locations
Reviews

Express Homebuyers is really fast: it provides offers in just minutes and can close in just a week in many circumstances. Plus, the company has mostly positive reviews on Google.

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

Express Home Buyers received an average of 3.7 stars from 261 customer reviews. It's accredited by the Better Business Bureau, and it has a B+ rating.

Google: 4.2 stars/122 reviews
Facebook: 4.6 stars/113 reviews
Yelp: 2.5 stars/26 reviews

We Buy Ugly Houses

Full review

Phone Number

(866) 288-9516

Time to offer

Varies

Time to sale

Varies
Why we chose it
Details
Locations
Reviews

We Buy Ugly Houses is a nationally recognized brand with a solid reputation. The company has over 800 franchises across the U.S., so be sure to check reviews for the individual location you plan to contact.

We Buy Ugly Houses is a property investor that buys homes for cash in over 800 locations across the U.S. To sell your home to We Buy Ugly Houses you can:

  • Submit information about your property online or by phone and set up an appointment for an investor to see your home
  • Show your home to the investor and receive a no-obligation offer
  • Set a closing date on your own schedule as soon as 3 weeks after accepting the offer

We Buy Ugly Houses has over 800 independently owned and operated franchises across 47 states and Washington, DC.

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.

How We Buy Houses Companies work

To buy homes quickly and make a profit, most We Buy Houses for Cash companies in Memphis 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 Memphis 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 Memphis, a home typically spends 47 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.

Memphis 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 Tennessee, it's common to offer 2.7-3.6% 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 Tennessee is 5.6%. 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 $59 a day in Tennessee, on average. Since these companies close much faster than a traditional sale, the total carrying costs are lower.

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

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.).

Alternatives to We Buy Houses companies in Memphis

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 Memphis 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 Memphis, which is $349,900, and relevant selling cost rates (closing costs, repair costs/credits, carrying costs, etc.)

Memphis home selling cost breakdown

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 and net more money!

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 $7,000 in realtor fees.

Frequently asked questions about Memphis We Buy Houses companies

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

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 Memphis

Authors & Editorial History

Our experts continually research, evaluate, and monitor real estate companies and industry trends. We update our articles when new information becomes available.

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