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Top 6 We Buy Houses for Cash Companies in Rochester, NY

Looking for a "we buy houses for cash" company in Rochester, NY? Clever's Real Estate Experts have put together a list of objective reviews of companies in your area. Our assessments are based on publicly available information and give you all the info you need to make the right decision for you.

Looking for a "we buy houses for cash" company in Rochester, NY? Clever's Real Estate Experts have put together a list of objective reviews of companies in your area. Our assessments are based on publicly available information and give you all the info you need to make the right decision for you.

When you need to sell your house fast or can't afford massive repairs, selling to a "we buy houses for cash" company can be your best option. In Rochester, it can take 73.5 days to sell your home from list to close. In comparison, a cash buyer can complete the transaction in about a week.

Plus, these companies buy homes as-is, meaning there's no need to deal with the hassle or cost of repairs.

If speed, certainty, and convenience are your top priorities, "we buy houses for cash" companies might be the solution you're looking for.

While these companies have undeniable benefits, they don't always outweigh the potential drawbacks (like low offers). Depending on your situation, a cash buyer could be your best option. But before you accept an offer, consider all your choices first.

In this article, we'll look at how "we buy houses for cash" companies work, what types of offers they make, and what the top companies are in Rochester.

Read on to get the answers you need to find the best way to sell your home.

How we buy houses for cash companies work

To buy homes quickly and make a profit, most "we buy houses for cash" companies 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 "we buy houses for cash" company makes repairs and sells it, hopefully for a 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 Rochester, a home typically spends 28.5 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 mortgage. You'll have to deal with appraisals, inspections, and further negotiations with the buyer.
  • If financing is denied, the house has to go back on the market.

Traditional home selling process vs. "we buy houses for cash" companies


Traditional Listing Process"We Buy Houses for Cash" Process
Prepping the HouseDepending on the condition of your home, repairing and preparing it for sale can take months.0 days; these investors buy homes as-is.
Time to Offer28.5 days^Typically 24 hours after viewing the property
Closing Process30-45 daysAs few as 7 days in Rochester
Minimum Time to Sell73.5days8 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.

>>LEARN how "we buy houses for cash" companies work

Local we buy houses for cash companies in Rochester

Rochester Revitalization

Smith and Nelson, LLC

We Buy Houses Rochester NY

National we buy houses for cash companies in Rochester

ASAP Cash Home Buyers

Fast Home Offers

We Buy Ugly Houses

How much will we buy houses for cash companies offer?

As real estate investors, "we buy houses for cash" 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.

All-cash offers in Rochester: 2 examples

Depending on the repairs your home needs, a "we buy houses for cash" company might be your best option. But if your home needs fewer or less expensive repairs, selling to a cash buyer can mean losing more than you realize.

Let's look at some examples of cash offers a homeowner could expect in Rochester.

In both cases, we'll use the city's average home value of $158,512 as the ARV. Assuming the house is the same size as others in the area, that's more or less what "we buy houses for cash" companies will try to resell it for after renovations. The big difference in these examples will be the amount of repairs the house needs.

A home in need of major repairs

In example No. 1, here are all the necessary repairs and their average costs:

  • New siding: $10,031
  • Bathroom remodel: $8,661
  • Fresh interior paint: $1,280
  • New central AC: $3,112

Here's how a cash buyer will calculate their offer:

ARV$158,512^
70% of ARV$110,958
Cost of Repairs$23,084*
Max. Cash Buyer Offer$87,874

^Based on Zillow Home Value Index
*Based on HomeAdvisor local cost estimations

That offer is 45% below fair market value, which seems like the investor is getting an unfair discount.

But, the truth is, most homeowners don't have almost $24,000 to pay for the repairs. And that's assuming the contractors don't go over budget.

Instead, for these sellers, the best option is a quick sale that allows them to avoid all the costs and hassles of making repairs.

If the cost of fixing your home is similarly high, selling to a "we buy houses for cash" company could be the right choice.

A home in need of minor repairs

In example No. 2, the house only needs a few updates in the kitchen, which include:

  • Refinished cabinets: $2,924
  • New countertops: $2,835

Here's how an offer from a "we buy houses for cash" company would break down:

ARV$158,512
70% of ARV$110,958
Cost of Repairs$5,759*
Max. Cash Buyer Offer$105,199

*Based on HomeAdvisor state cost estimations

In this example, the cost of repairs is significantly less, but the offer is 34% below fair market value.

Instead of losing almost $54,000, the seller has other options that would lead to a sale price closer to the fair market value of $158,512. The homeowner could:

  • Pay for the repairs out of pocket
  • Make minor repairs themself to lower the total cost
  • Offer a repair credit to potential buyers

Pros of we buy houses for cash companies

"We buy houses for cash" companies are extremely beneficial to certain sellers, especially:

  • Homeowners facing foreclosure
  • People who've inherited unwanted property
  • Homeowners who can't afford extensive repairs

Let's look at how cash buyers meet the needs of these sellers.

Cash offers mean speed and certainty

The longest parts of the home selling process involve buyer financing. A lender can spend weeks underwriting a loan, and if the buyer isn't approved, you have to start all over again.

Cash buyers don't need to go through this lengthy process. They already have the money and if they make an offer, it's very unlikely they'll back out.

No need for repairs

Finding a buyer who will take a house as-is is a big plus for sellers in a hurry, especially given how long repairs can take.

Homeowners can also avoid losing a ton of money by selling as-is. Yes, "we buy houses" companies make lower offers to account for repair costs. But it's not uncommon for contractors to go over budget and there's no guarantee you'll recover the cost of repairs and renovations.

Lower costs

Selling a house is expensive. There are associated costs that add up and eat away at sellers' profits. Here are some expenses homeowners avoid 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 New York, it's common to offer 1.6-2.1% 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 New York is 4.8-5.6%. Since selling to a "we buy houses for cash" company doesn't require an agent, homeowners avoid paying commissions.
  • Carrying costs: Every day a seller owns a home costs money. Expenses like mortgage payments, insurance, property taxes, etc. can add up to $88 a day in New York. Since "we buy houses for cash" companies close much faster than a traditional sale, the total carrying costs are much less.

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


Traditional Sale"We Buy Houses for Cash" Company
Closing Costs1-3%0%
Seller Concessions^1.6-2.1%0%
Agent Commissions^4.8-5.6%0%
Carrying Costs*$88 per dayA total of $6,468 for the typical 73.5-day sales process
$88 per dayA total of $704 for an 8-day sales process

^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, WallerHub, and Clever Real Estate

>>LEARN more about cost of selling to cash buyer

Cons of we buy houses for cash companies

Of course, "we buy houses" companies aren't the right choice for every seller. Here are some drawbacks to consider before accepting an offer from a cash buyer.

Lower offers

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 (lower price, repair credits, etc.).

However, 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 ARV.


Selling to a "We Buy Houses" CompanySelling with a Traditional Realtor
Sale price (compared to fair market value)70% max.100%
Repair Costs10%10%
Closing Costs0%1-3%
Seller Concessions0%1.6-2.1%
Commissions/Service Fees0%4.8-5.6%
Max Take Home60% max82.6% max

Take-it-or-leave-it offers

There is no negotiating with "we buy houses for cash" companies. They use their own representatives to evaluate your home and necessary repairs. If you disagree, your only option is to walk away. You can't try to negotiate for a higher price.

Predatory tactics

Often, homeowners who consider "we buy houses for cash" companies are facing difficult life situations. The seller could be going through a divorce, facing foreclosure, or dealing with the death of a loved one.

Some "opportunity investors" take advantage of these situations and may pressure sellers to accept incredibly low offers.

We buy houses for cash companies vs. alternatives

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

Let's look at a breakdown of how much a seller in Rochester could walk away with through three different selling options.

We'll use the median sale price in Rochester, which is $163,000, and relevant selling cost rates (closing costs, repair costs/credits, carrying costs, etc.)

Rochester cost breakdown


Selling to a "We Buy Houses" CompanySelling with a Traditional RealtorSelling with Clever
Sale price*$97,800$163,000$163,000
Seller Concessions$0$3,097$3,097
Staging Costs^$0$1,144$1,144
Closing Costs$0$3,260$3,260
Carrying Costs$704$6,468$5,104**
Commissions/Service Fees$0$8,476$6,749
Take Home$97,096$140,555$143,646

*Based on data from Redfin
☨Based on the 70% rule and assuming the house needs 10% of its ARV in repairs
^Based on HomeAdvisor national average
**Based on the average time it takes for homes listed with Clever to receive an offer (13 days) and a 45-day closing process

>>LEARN more about selling with Clever

Making your decision

Even if you need to sell your home quickly, you shouldn't rush to make a decision about who to sell to. There are many "we buy houses for cash" companies out there and you don't want to choose the wrong one for your situation.

Remember to consider all the benefits and drawbacks of selling to a cash buyer.

Once you've weighed all of your options, you'll be able to confidently sell your home. Whether you chose to work with a "we buy houses for cash" company or go a more traditional route, you'll know you made the right choice for your situation.

Additional resources for home sellers in Rochester

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Reuven Shechter

Reuven Shechter is the Outreach Coordinator at Clever Real Estate, the free online service that connects you with top real estate agents to help save on commission. He spreads the word about Clever, disseminating studies to journalists and developing relationships with media outlets. Reuven is passionate about investing in real estate and creating lasting success for families. His writing has been featured in Max Real Estate Exposure, Leverage Marketing, and more.

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