How to Sell a House for Cash on Long Island
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- 7 min read
If you’re planning to sell a house for cash on Long Island, chances are you’re looking for a fast, hassle-free sale. With this type of transaction, you can skip home prep, bypass repairs and showings, and close on your own timeline.
The three big questions on your mind might be:
- How do I sell a house for cash in Long Island?
- What does this convenience cost?
- How much more can I get for my Long Island house if I make repairs?
In this post, we’ll walk you through the two most common ways to receive an all-cash offer on Long Island, and what the offer amount might look like, depending on who you sell to and whether you make repairs or sell as-is.
Compare Options: Investor Cash Offer vs. Top Agent
No staging, no open houses, no repairs. Request a cash offer from HomeLight’s Simple Sale platform and close in as little as 10 days. You can also receive and compare an estimate of what a top agent might be able to get for your house.
Options to sell a house for cash on Long Island
Homeowners typically have two ways to sell for cash: work directly with a house-buying company or investor, or hire a Long Island real estate agent who can attract a cash offer from a traditional buyer. Each option provides varying levels of proceeds.
Before we dive into the details, use the calculator below to get a quick estimate of how a cash offer in Long Island might compare depending on how you sell.
As you can see, your cash offer will be significantly higher if your Long Island home is in good condition, but not every homeowner has the time, resources, or desire to take on major repairs. For homeowners facing an impending job or life change, financial strain, or needing to sell an inherited property from out of state, the convenience of an all-cash offer can’t be beat.
Let’s break down what you can expect from each option to sell a house for cash in Long Island.
Option 1: Sell to a cash buyer company on Long Island
House-buying companies and investor groups specialize in purchasing homes for cash. Many buy properties in “as-is” condition, meaning you don’t need to clean, make repairs, or stage your Long Island home before selling. These are commonly known as “We Buy Houses” companies.
Other house-buying companies that serve Long Island, known as iBuyers, only purchase homes in good condition or move-in-ready “turnkey properties.” The most well-known iBuyers are Opendoor and Offerpad, which pay higher cash offers but charge a fee of around 5% of the home’s price.
We Buy Houses companies in Long Island typically follow a similar streamlined process:
- You submit information about your Long Island property online or over the phone.
- They assess the home’s value using local market data and an on-site visit.
- You receive a no-obligation cash offer, often within 24 to 48 hours.
- If you accept, they can close in as little as 7 to 14 days.
Some Long Island cash buyers fix and flip homes, while others rent them out or hold them as investments. They usually aim to purchase below market value to allow room for profit.
Most We Buy Houses investors in Long Island follow the 70% rule of house flipping, which suggests that the purchase price should not exceed 70% of a home’s after-repair value (ARV) minus the estimated cost of repairs. Our calculator above applies a formula to show a range of the 70% rule and an 80% guideline used by many rental property investors.
Keep in mind, however, that these are general rules, and some Long Island cash buyers may offer more or less depending on the property’s location and condition.
»Learn more: 5 Top We Buy Houses for Cash Companies in Long Island
Pros and cons of selling to a Long Island cash buyer company
| Pros | Cons |
| Speed: You can close and get paid in a matter of days instead of months | Lower sale price: Cash offers are typically below market value |
| No repairs required: Sell your Long Island home in its current condition | No negotiation: Most cash offers are presented as take-it-or-leave-it |
| Convenience: Skip the showings, open houses, or drawn-out negotiations | Less competition: Without listing on the market, you’re not exposing the home to multiple buyers |
| No fees or commissions: Most companies cover the seller’s closing costs | Not suitable for all situations: An agent-assisted sale has advantages in some circumstances |
| Certainty: There’s less risk of a deal falling through due to financing contingencies | Unscrupulous buyers and scams: Not every cash buyer is trustworthy |
Although many legitimate investors operate in Long Island, it’s important to watch out for signs of a bad deal, such as a company that pressures you or has no established track record or online presence. Search for companies with verified reviews, local market knowledge, and clear, honest communication.
»Learn more: We Buy Houses Pros and Cons: Make an Informed Decision
A better way to find trusted cash buyers on Long Island
HomeLight’s Simple Sale platform can connect you with the largest network of pre-vetted cash buyers in Long Island and throughout the country, helping you review offers without navigating the investor world on your own.
Here is the 4-step Simple Sale process:
With Simple Sale, you’ll enter a few details about your Long Island home and receive a no-obligation offer within 24 hours. If you choose to move forward, you can close in as few as 7 days or select your ideal closing date. Plus, you’ll receive an expert estimate of what your home might sell for using a top Long Island real estate agent, so you can easily compare your options.
Option 2: Attract a cash buyer with a top Long Island agent
Not all cash offers come from investors or companies. In Long Island’s competitive housing market, many individual buyers come prepared with cash, whether they’re downsizing, relocating after selling a home internationally, or looking for a second home to escape the Manhattan chaos. A top Long Island real estate agent can help position your home to attract these buyers.
»Learn more: Why Hire a Real Estate Agent When You’re Selling or Buying
Pros and cons of selling with a top Long Island agent
| Pros | Cons |
| A higher sale price: Agents can boost your home’s exposure and attract multiple offers | Longer timeline: Traditional listings on Long Island can take weeks or even months to close |
| Professional guidance: A professional handles pricing, marketing, and negotiations on your behalf | Prep work required: Cleaning, repairs, or staging may be needed to make your home market-ready |
| Broad market access: Listings on the MLS and agent networks draw more interest from qualified cash buyers | Showings and disruptions: Expect walkthroughs, open houses, and short-notice visits when working with an agent |
| Reduced stress: Agents take care of complex tasks, helping you avoid common missteps | Commission fees: You’ll need to account for agent fees, usually a percentage of the final sale price |
| Legal protection: You’ll have expert guidance on state disclosures and federal fair housing laws | Uncertainty of sale: Even with an agent, sales can fall through or take longer than expected |
»Learn more: Should I Sell to a Home Investor or List With an Agent?
The easy way to find top-rated Long Island agents
If you’re leaning toward listing with an agent, HomeLight’s free Agent Match platform can connect you with Long Island’s top-performing agents based on actual transaction data. We analyze over 27 million transactions and thousands of reviews to determine which agent is the right fit based on your needs.
Whether you’re aiming to attract a cash offer or explore all your options, the right Long Island agent can help you optimize your sale. For a no-obligation consultation with a trusted agent, tell us a little about your selling goals and timeline.
Which cash sale option is right for you?
If speed, simplicity, and a low-stress experience are your top priorities, selling to a vetted Long Island cash buyer through HomeLight’s Simple Sale platform could be the better fit.
If you’re willing to take more time to potentially secure a higher price — and don’t mind preparing your home for the market — working with a top Long Island agent may be the right approach.
When you request a Simple Sale offer, you’ll also get an expert estimate of what your Long Island home could sell for with a top agent, so you can confidently compare both options.
Still undecided about selling a house for cash in New York State? Use our Home Cash Offer Comparison Calculator above to get a sense of what your home might sell for, depending on how you choose to sell it. Then, request a no-obligation offer or consult with a trusted Long Island expert.
There’s no one-size-fits-all answer, but the right resources and expert guidance can help you make a confident, informed decision.
Header Image Source: (Roger Starnes Sr / Unsplash)