4 Top We Buy Houses for Cash Companies in Albany
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Kelsey Morrison EditorClose
Kelsey Morrison EditorKelsey Morrison is an editor for HomeLight's Resource Centers. She brings six years of editorial experience covering real estate, home design, cooking, crafting, and pet care. With a background as a commerce editor at World of Good Brands (eHow.com and Cuteness.com) and an associate editor at Livabl, Kelsey holds a bachelor’s degree in Journalism from Concordia University in Montreal, Quebec.
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
Selling your home in Albany can be downright daunting, especially if your property needs updating and you’re short on time or resources. That’s where We Buy Houses companies come in — these cash-flush investors purchase homes as-is, allowing homeowners to forego repairs, showings, and staging.
This option may be particularly appealing if you’re dealing with urgent circumstances that require a fast sale, allowing you to move forward with your life without the hassle of a traditional home sale. However, it’s important to understand both the upsides and downsides of selling to a house-buying company.
This article weighs the pros and cons of selling your Albany home for cash and lists some of the most reputable home-buying companies serving New York’s capital.
Sell Your House Fast in Albany With a Cash Offer
Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in 24 hours and close in as few as 10 days. No showings, no repairs, no open houses. Available to sellers throughout Albany, New York.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Albany area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Albany
Working with house-buying companies in Albany simplifies the home-selling process, especially for those seeking a speedy transaction.
Here’s how the process generally works:
- Research companies: Start by looking into reputable We Buy Houses companies in Albany. Ensure they have a solid track record of fair deals and positive customer feedback.
- Submit your details: Reach out to your chosen company with information about your property. This usually involves filling out a form on their website or making a phone call.
- The company conducts a walk-through: A representative from the home-buying company will typically complete an on-site property visit within 24 to 48 hours to evaluate your home’s condition.
- Receive an offer: Based on the walk-through and the details you provide, the company will assess your property’s value and present you with a firm cash offer, typically within a few days.
- Accept the offer: If you’re satisfied with the offer, you can accept it. Remember, these offers are often non-negotiable, so what you see is usually what you get.
- Close the sale: Once everything is agreed upon, you’ll move on to the closing, where you’ll sign the necessary paperwork and receive your cash payment. The closing process can be completed in as little as a week, allowing you to move on quickly.
Popular We Buy Houses for Cash companies in Albany
If the prospect of selling to a house-buying company in Albany appeals to you, you’ll need to find a reputable operation you can rely on.
We’ve compiled a list of some of the top companies that will pay cash for your parents’ Craftsman or Dutch Colonial. By partnering with one of these companies, you can potentially sell your home within a week or two.
Sell Now Homebuyers
Sell Now Homebuyers, founded 15 years ago by Dave Brown, is a leading home-buying company in the New York Tri-State area, boasting over 20 years of real estate experience. Praised for its ethical, honest, and genuine interactions, the company has helped hundreds of homeowners sell their properties for cash across New York, New Jersey, and Connecticut, offering a fast, simple, and convenient process.
Locations: Albany and all over New York, as well as New Jersey and Connecticut.
Closing costs: Sellers pay no closing costs; Sell Now Homebuyers covers them.
Sell Now Homebuyers’ clients frequently commend Dave and his team for their clear communication, care, and expertise, which contribute to a positive overall experience. Customers appreciate the hassle-free and speedy process, along with fair offers for their homes. They mention the company’s honesty and reliability, making tough situations like selling a family home or handling estate matters much easier. Sell Now Homebuyers touts a Google review rating of 4.8.
Website: sellnowhomebuyers.com
Phone number: 914-559-2579
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Albany (and across the country) can request a cash offer for their home. Simple Sale connects you to the largest network of cash buyers in the US. Partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. This enables Simple Sale to provide cash offers for a wide array of properties, even those that need some or a lot of work, in different neighborhoods throughout Albany.
With Simple Sale, you can get a no-obligation, all-cash offer in 24 hours and sell your home in as few as 10 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including Albany.
Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a HomeLight platform. HomeLight was founded in 2012 and is accredited by the Better Business Bureau with an A+ rating. The company has 4.8 stars on Google based on hundreds of user reviews. Below, you can hear about how Baohan Wu, a seller who used Simple Sale to sell his high-rise apartment, closed within three and a half weeks and what he thought of the process overall.
Learn more: homelight.com/simple
Phone: 844-488-8455
Real Property Buyers
Real Property Buyers is a family-owned real estate solutions company in Hewlett, New York. They purchase homes as-is and allow sellers to choose their closing date. You can secure a no-obligation all-cash offer within 24 hours, and close in as little as seven days. Real Property Buyers also pays all closing costs, reducing expenses for sellers. They purchase homes throughout the state of New York.
Locations: Albany and all over New York.
Closing costs: Sellers pay no closing costs; Real Property Buyers covers them.
Customers commend Real Property Buyers for their honesty, dependability, and efficiency. They also value the detailed responses to their questions, as well as the professionalism of the owner, Michael, and his team. One reviewer who had a title issue at closing wrote that Michael was able to help them through it. The company has a Google review rating of 5.0.
Website: sellmyhousefastinnewyork.com
Phone number: 917-938-7328
Leave The Key Homebuyers
Leave The Key Homebuyers is a family-owned home-buying company that purchases houses all over the state of New York, including Albany. They can schedule the closing in as few as seven days or as long as a few months, depending on your needs. They will extend a no-obligation cash offer within 24 hours of touring your home in person. Leave the Key Homebuyers has been in business for over 10 years and has helped hundreds of homeowners sell their homes.
Locations: Albany and all over New York.
Closing costs: Sellers pay no closing costs; Leave The Key Homebuyers covers them.
Leave The Key Homebuyers earn high praise for its quick, easy, and stress-free process. Clients say the co-owner, Larry, never pressured them, answered all their questions, and was compassionate toward them when dealing with an inherited estate. One reviewer wrote that Leave the Key Homebuyers offers, “Truly unparalleled service in the industry.” The company has a Google review rating of 5.0.
Website: leavethekey.com/ny/albany/
Phone number: 631-869-7722
Why sell your Albany house for cash?
Selling your home for cash can be a smart move in certain situations, offering a fast and hassle-free alternative to traditional home sales. In Albany County, it typically takes around 75 days to sell a home on the market using a real estate agent. That includes a median of 28 days for a home to go from “active” to “pending,” plus the typical 47 days a buyer needs to close on a purchase loan.
Here are some common scenarios where selling to a house-buying company could be the ideal solution:
- Job relocation: When you’re relocating for a job, selling your home for cash can make the transition smoother.
- Dealing with divorce: A cash sale can simplify the division of assets, making it easier to move on after a divorce.
- Inherited a home: If you’ve inherited a home that you’re not ready to manage, a cash sale can resolve the situation quickly.
- Need to downsize: For those looking to move to a smaller home or a retirement community, selling for cash can be a straightforward solution.
- Significant repairs: Selling a home that requires extensive repairs can be expensive and overwhelming; cash buyers purchase homes as-is.
- Hassle of open houses: If you want to avoid the inconvenience of open houses, selling for cash eliminates this step.
- Foundation issues: Significant problems like foundation issues can be a deal-breaker for traditional buyers but not for cash-buying companies.
- Foreclosure woes: Facing foreclosure? A cash sale can help you avoid it and protect your credit.
- Troublesome tenants: Selling a rental property with tenants can be complicated; cash buyers often take on properties with tenants in place.
- Selling from out of state: Managing a sale from afar is challenging, but a cash sale can simplify the process.
Selling your Albany home for cash can offer a practical solution in these and other scenarios. In the next section, we’ll explore the pros and cons of working with house-buying companies, helping you weigh your options to decide if this is the right path for you.
Pros and cons of house-buying companies in Albany
When considering selling your home to an Albany house-buying company, understanding the pros and cons is essential. These companies offer quick sales and will purchase homes in any condition but typically pay below market value to turn a profit.
Pros
- Speed of sale: House-buying companies in Albany can often close on a home within a week, which can be a lifesaver for sellers needing to move quickly.
- No need for repairs: Your home can be sold as-is, eliminating the need for costly and time-consuming repairs or renovations before the sale.
- Simplicity: The process is straightforward, with fewer contingencies and no need for staging, open houses, or extensive marketing.
- Cash payment: Sellers receive a cash payment, which can be particularly beneficial if you’re facing financial difficulties or in urgent need of funds.
Cons
- Below market value: You are likely to receive an offer that’s below market value compared to selling through traditional real estate channels.
- Limited negotiation: Offers from house-buying companies are typically non-negotiable, leaving little room for sellers to influence the final sale price.
- Risk of scams: While many companies are reputable, there’s a risk of falling victim to scams. It’s crucial to research and verify the credibility of the buyer.
- Missed market benefits: Selling to a cash buyer means missing out on potentially higher offers that could arise from multiple bidders in a traditional home sale.
Curious What Your Home Is Worth?
Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.
Vet cash buyers and know your home’s worth
Choosing a We Buy Houses for Cash company in Albany requires careful consideration, as experiences vary based on the company’s integrity. Before accepting a cash offer, vet the company by checking reviews, reading testimonials, and researching their market presence. You should also have an idea of your home’s worth and read the buying agreement carefully to avoid unfavorable terms or hidden fees. This due diligence will help you make a decision that best suits your needs.
HomeLight suggests you consult with an experienced local agent to get a better idea of what your home might be worth if sold on the open market. Then compare your cash offer. HomeLight can connect you with a top-performing agent in your market. You can also use HomeLight’s Home Value Estimator to get an initial ballpark estimate in less than two minutes.
Other options to sell your Albany home quickly
iBuyers
Instant buyers, known as iBuyers, use automated valuation models (AVMs) for quick home value estimates and offers, streamlining sales online. They provide all-cash offers close to market value for homes in good condition, with the process taking a few days to two weeks. However, service fees can range from 5%–6%. iBuyers are best for sellers in areas with uniform housing and well-maintained properties. Examples include Opendoor and Offerpad.
Listing with an agent
Listing your home with a top real estate agent in a seller-friendly market can indeed lead to a quick sale. Albany County is firmly in seller’s market territory, and homes are currently going under contract in less than a month.
Agents can also help homeowners net the highest selling price, often providing a comparative market analysis (CMA) for setting competitive prices. (Bonus: CMAs are usually free.) A well-connected agent might also find cash buyers willing to pay close to market value. For those exploring this route, HomeLight can connect you with top-performing agents.
FAQs on Albany house-buying companies
Most We Buy Houses for Cash companies in Albany are legitimate businesses. Their services and transaction fees may vary, but the business model has been around for decades. If you use an established group with a solid track record, you can be fairly confident that it’s legit.
That said, as with any financial transaction, it’s a good idea to be on the alert for scams. Always research companies before you sign a contract. Check customer reviews, look at their online presence, verify professional licenses, get a referral if possible, and vet the company on the Better Business Bureau website. Watch for anything that just doesn’t seem right.
How much will We Buy Houses for Cash companies in Albany pay?
As described in our pros and cons list above, most Albany We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value, minus their estimated repair costs.
Here’s an example of what a simplified formula might look like:
(Your home’s ARV x .70) – repair costs
To see how this might work in a real-world scenario, let’s take a look at an example offer equation. Let’s say your Albany bungalow could sell for $275,000 after repairs, but it’s going to need $30,000 of work to get there.
($275,000 x .70) – $30,000 = $162,500
In this example, an Albany We Buy Houses company might offer you around $162,500 for your home.
However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more than We Buy Houses companies because iBuyers look for homes in better condition. An iBuyer might pay you 90% or more of market value while charging a fee for their services.
When you accept an offer from an Albany We Buy Houses for Cash company, you will likely be coming to grips with a two-edged sword. On the one side, it shouldn’t cost you any additional money because these companies make an offer and handle almost everything once the offer is accepted. On the other side, you’ll likely get less money overall for your home.
Because We Buy Houses for Cash companies tend to focus on distressed homes, they typically have zero fees. Many will even cover your closing costs. In most cases, this means that the cash offer you receive is going to be the price you walk away with at the end of the deal. Of course, it’s always a good idea to flat-out ask the company if there are any hidden program fees that might impact your bottom line.
- Research and vet the house-buying companies that serve your Albany area. Our list above is a good place to start.
- Submit offer requests to a few of the companies you like best.
- Schedule any required on-site property visits.
- Compare offers. Weigh the pros and cons and choose the best option for you.
- Close the sale in a week to 30 days and get paid. (Some companies will let you choose a closing date up to 90 days after accepting the offer, which can be helpful when planning a move.)
We Buy Houses for Cash in Albany vs. top Albany agent
Another helpful exercise is to compare how a We Buy Houses for Cash company might stack up against working with a real estate agent. Let’s take a glance at how different aspects of the sale might look and compare possible proceeds.
| Aspect of the sale | Sell to a We Buy Houses for Cash company in Albany | Sell with a top Realtor in Albany |
| Selling timeline | 7 to 30 days | 75 days on average; 28 to attract an offer, 47 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary repairs, landscape, stage home |
| Showings | None | 10 to 25 showings average |
| Inspections / repairs | None | May need to make additional repairs for the buyer or renegotiate the price |
| Appraisal | None | May need to lower your asking price if the appraisal comes in low |
| Title search | Cash-For-Homes companies often handle title issues | Must clear title before you can sell home |
| Financing contingency | None | Mortgaged buyers use a financing contingency that could hold up the deal if the buyer’s loan doesn’t clear |
| Agent commission | None | 5.8% average |
| Closing costs | None | 1% to 3% of the home sale price on top of agent commission |
Example net proceeds
Below, we’ve put together one example of how net proceeds may differ between selling a home to a We Buy Houses for Cash company and an agent-assisted sale.
Let’s say your home in Albany is currently worth about $315,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $340,000.
| Sell to a We Buy Houses for Cash company in Albany | Sell with a top Realtor in Albany | |
| Estimated sale price | ($340,000 x .70) – $25,000 = $213,000 | $315,000 |
| Market preparations | 0 | $3,150 (1% of sale price) |
| Agent commissions | 0 | $18,270 (5.8% of sale price) |
| Closing costs | 0 | $4,725 (1.5%) |
| Estimated take-home for seller | $213,000 | $288,885 |
As this example illustrates, financially, it’s usually in your best interest to partner with an experienced real estate agent.
However, net proceeds are not the only consideration when selling a home. What’s best in your situation will depend on the condition of your property, the level of repairs needed, and your selling goals. It could be that selling on the open market will be a challenge in your neighborhood, or the agent timeline might not fit your immediate needs.
Key takeaways
- We Buy Houses for Cash companies in Albany make it possible to sell your home in as little as 3–7 days and avoid repairs, open houses, or showings.
- There are several reputable house-buying companies in Albany County, but you should vet each business and understand your home’s value before you commit.
- Cash-For-Homes companies typically pay under market value for houses versus using a top real estate agent or iBuyer.
- HomeLight’s Simple Sale platform provides no-obligation, all-cash offers for homes in almost any condition in Albany. Because the platform has partner investors with different buying parameters across the region, it can be a great starting point if you aren’t sure who would buy your home.
For those in need of a quick home sale, house-buying companies can be a solid alternative to selling on the open market. However, it’s important to consider the pros and cons of selling your Albany house for cash and avoid rushing your decision.
Before committing to a cash-for-homes company, you should gather multiple offers and carefully evaluate your choices. You may also want to seek advice from an experienced Albany agent to find out how quickly your home could sell on the open market, and how much profit you might earn. Whatever decision you make, HomeLight is here to support you on your home-selling journey.
Header Image Source: (Wenhao Ruan / Unsplash)
