5 Top We Buy Houses for Cash Companies in Hampton Roads
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Joseph Gordon Associate EditorJoseph Gordon is an Associate Editor with HomeLight. He has seven years of experience reporting on the commercial real estate and insurance industries. He holds an MFA in Creative Writing from the University of San Francisco.
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.
In Hampton Roads, the real estate landscape is witnessing a growing trend towards We Buy Houses for Cash companies. These firms are known for making all-cash offers on homes, often ones that require a bit of work. For homeowners without the time, money, or expertise for home repairs, opting for a cash sale can be a swift and effective solution to move forward with life’s plans.
Whether it’s a sudden relocation, financial necessity, or other life changes, selling your house for cash can offer a viable exit strategy in unpredictable times.
This article explores the benefits and drawbacks of choosing a cash-for-homes company in Hampton Roads. Understanding these aspects will help you, as a homeowner, make an informed decision about selling your property.
Sell Your Hampton Roads House Fast With an All-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 Hampton Roads, Virginia.
Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of Hampton Roads area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Hampton Roads
Engaging with house-buying companies in Hampton Roads can be a straightforward path to selling your home quickly. Here are the key steps involved in the process:
- Research and select a company: Research reputable We Buy Houses for Cash companies in Hampton Roads.
- Initial inquiry: Contact the selected company to express interest and provide basic details about your property.
- Property evaluation: The company will typically evaluate your property to assess its condition.
- Receive an offer: The company will present a cash offer based on the assessment.
- Acceptance of offer: If you agree to the offer, you’ll accept it.
- Closing the deal: Finally, you’ll close the deal, sign the necessary documents, and receive the cash for your home.
Popular We Buy Houses for Cash companies in Hampton Roads
If selling to a house-buying company in Hampton Roads sounds good, it’s time to find a legitimate operation you can trust.
We’ve compiled some top companies that will pay cash for your parents’ Colonial or Bungalow. By selling to one of these companies, you can sell your Hampton Roads home in as little as a week or two.
Hampton Roads House Buyers
Hampton Roads House Buyers, located in Suffolk, has been in business for the past eight years. It prides itself on performing due diligence to ensure minimized costs. The company will assess your property, giving you an offer based on the property’s current condition.
Locations: Hampton Roads and surrounding areas
Closing costs: Hampton Roads House Buyers often pay for closing costs.
Hampton Roads House Buyers has been BBB accredited since 2021 and holds an A+ BBB grade rating. Customers particularly appreciate the company’s fair and honest offers, prompt responses, and ability to close deals swiftly, often within 30 days. They have a Google review rating of 5.0.
Website: hamptonroadshousebuyers.com
Phone number: 757-276-3955
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Hampton Roads (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 U.S. 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 locations throughout Hampton Roads.
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 Hampton Roads
Closing costs: No prep costs, agent commissions, or fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a HomeLight platform. HomeLight was founded in 2012 and is BBB-accredited with an A+ rating. The company has 4.8 stars on Google based on more than 500 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
Hampton Roads Cash Home Buyer
Situation Solutions One Inc. DBA Hampton Roads Cash Home Buyer, headquartered in Virginia, does not charge upfront fees, commissions, or closing costs when purchasing homes for cash, emphasizing that their service remains entirely free for homeowners.
Locations: Hampton Roads and surrounding areas
Closing costs: Sellers pay no closing costs; Hampton Roads Cash Home Buyer covers them.
Hampton Roads Cash Home Buyer has been BBB accredited since 2010 and holds an A+ BBB grade rating. Customers noted that renovations on listed homes are impeccable. They have a Google review rating of 4.4.
Website: hamptonroadscashhomebuyer.com
Phone number: 757-802-4647
Integrity Cash Home Buyers
Integrity Cash Home Buyers assists homeowners across Norfolk, Virginia Beach, and Williamsburg. It offers alternatives for homeowners grappling with potential foreclosures, houses needing significant repair, inherited properties, or unmet expectations from real estate agents.
Locations: Hampton Roads and surrounding areas
Closing costs: Sellers pay no closing costs; Integrity Cash Home Buyers covers them.
Integrity Cash Home Buyers, with Mike as a key representative, is praised by reviewers for a quick response time and dedication to assisting homeowners throughout challenging situations. They have a Google review rating of 4.8.
Website: integritycashhomebuyers.com
Phone number: 757-276-3322
Christian Buys Houses
Christian Buys Houses, founded by Christian, prides itself on offering an uncomplicated, no-pressure approach, emphasizing transparency and catering to those facing unconventional selling situations.
Locations: Hampton Roads and surrounding areas
Closing costs: Sellers pay no closing costs; Christian Buys Houses covers them
Christian Buys Houses has received overwhelmingly positive reviews from homeowners. Reviews suggested recommending this company to friends and family, emphasizing the team’s team’s respectful and understanding nature. They have a Google review rating of 4.9.
Website: christianbuyshouses.com
Phone number: 747-705-8812
Why sell your Hampton Roads house for cash?
A Hampton Roads home seller may choose to work with a Cash-For-Homes company for plenty of valid reasons. The primary benefits are speed, certainty, and remarkable convenience are leading the list.
In Hampton Roads, selling a home on the market typically takes around 69 days using an agent. That includes an average of 24 days on the market plus the typical 45 days a buyer needs to close on a purchase loan.
Compare that to the typical seven to 10 days promised by many house-buying companies in Hampton Roads, and it’s clear why these Cash-For-Homes groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
There are several scenarios in which selling your home to a We Buy Houses company could be the right move for you:
- Quick relocation: For those facing job transfers and needing to move on short notice.
- Divorce proceedings: A cash sale offers a simple solution during divorces.
- Financial emergencies: Selling for cash can be a lifeline during financial strain.
- Avoiding foreclosure: A quick cash sale can help you avoid foreclosure.
- Inheritance: Selling an inherited property for cash can simplify estate settlements.
- Home disrepair: A cash sale can be practical if your home requires significant repairs.
- Landlord issues: Ideal for landlords looking to offload rental properties quickly.
Pros and cons of house-buying companies in Hampton Roads
There are many pros and cons to selling your house for cash. In this next section, we will look at the obvious and not-so-obvious benefits and drawbacks of selling your home quickly for cash.
Pros:
House-buying companies in Hampton Roads offer several key advantages:
- Speed of sale: The process is typically much faster than traditional real estate methods.
- No need for repairs: These companies will buy your house as-is, saving you the hassle of renovations.
- Ease of process: The sale involves less complexity and paperwork.
- Guaranteed sale: A cash offer provides certainty in an uncertain market.
Cons:
However, there are some drawbacks to consider:
- Lower price offers: Expect offers below the market value of your home.
- No negotiations: The price offered is typically non-negotiable.
- Limited market exposure: Your property won’t be listed or marketed to a broader audience.
- Potential for scams: It’s important to research and verify the legitimacy of any company you plan on entering into a financial transaction with.
Next, let’s delve into how to vet cash buyers and help you understand the potential value of your home in the Hampton Roads market.
Curious What Your Home Is Worth?
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Vet cash buyers and know your home’s worth
The integrity and service quality can vary when working with a We Buy Houses for Cash company in Hampton Roads. Your experience will largely depend on the character of the person or group you deal with. Before committing to a cash offer, thoroughly vet the company. Check their reviews, read testimonials, and research their market presence and performance.
Additionally, it’s crucial to read the buying agreement carefully before signing. Understanding the terms and conditions ensures you’re fully aware of your commitment and protects your interests.
Other options to sell your Hampton Roads home quickly
iBuyers: iBuyers use automated valuation models (AVMs) to offer fast, mostly online home sale experiences. They provide all-cash offers close to market value for homes in good condition, with the entire process ranging from days to two weeks. However, companies like Opendoor and Offerpad charge service fees of about 5%-6%.
Listing with an Agent: Despite the quick-sale focus of Cash-For-Homes, considering a top real estate agent could be beneficial, especially in a seller-friendly market. Agents often achieve higher selling prices and provide valuable insights through Comparative Market Analyses (CMAs), helping set a competitive listing price. They can often offer this service for free. They may also connect you with cash buyers offering closer to market value.
FAQs on Hampton Roads house-buying companies
By and large, most We Buy Houses for Cash companies in Hampton Roads are legitimate businesses. Their services and transaction fees may differ, but the business model has existed for decades. If you use an established group with a track record, you can be reasonably confident that it’s legit.
As with any financial transaction, it’s a good idea to be 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.
As described in our pros and cons list above, most Hampton Roads 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
Let’s look at an example offer equation to see how this might work in a real-world scenario. Let’s say your Hampton Roads Bungalow could sell for $340,000 after repairs, but it will need $30,000 of work to get there.
($340,000 x .70) – $30,000 = $208,000
In this example, a Hampton Roads We Buy Houses company might offer you around $208,000 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 a Hampton Roads 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 it is accepted. Conversely, 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 will be the price you walk away with at the end of the deal. Of course, asking the company if hidden program fees might impact your bottom line is always a good idea.
We Buy Houses for Cash in Hampton Roads vs. top Hampton Roads agent
Let’s compare how a We Buy Houses for Cash company might stack up against working with a real estate agent.
| Aspect of the sale | Sell to a We Buy Houses for Cash company in Hampton Roads | Sell with a top Realtor in Hampton Roads |
| Selling timeline | 7 to 30 days | 69 days average; 24 to attract an offer, 45 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 compiled 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 Hampton Roads is currently worth about $340,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $365,000.
| Sell to a We Buy Houses for Cash company in Hampton Roads | Sell with a top Realtor in Hampton Roads | |
| Estimated sale price | ($365,000 x .70) – $25,000 = $230,500 | $340,000 |
| Market preparations | 0 | $3,400 (1% of sale price) |
| Agent commissions | 0 | $19,720 (5.8% of sale price) |
| Closing costs | 0 | $5,100 (1.5%) |
| Estimated take-home for seller | $230,500 | $311,780 |
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, what level of repairs are needed, and your selling objectives. It could be that selling on the open market will be challenging in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Speed and convenience: Selling to a cash-for-homes company offers a quick, hassle-free transaction.
- No repairs needed: You can sell your home in its existing condition without any renovations.
- Lower offers: Be prepared to receive offers below the market value.
- Research is key: Thoroughly vetting the buying company is crucial to avoid scams.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
At HomeLight, we’re happy to lend a guiding hand in navigating your real estate journey. Let us help you make an informed and confident decision, whether you’re looking for a no-obligation cash offer through a trusted platform like Simple Sale or seeking to consult with a top Hampton Roads agent.
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