5 Top We Buy Houses for Cash Companies in Maine
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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.
When facing an unexpected situation, many homeowners in Maine turn to ‘We Buy Houses’ companies, seeking a swift solution. These firms make all-cash offers, particularly for homes needing work, enabling you, the seller, to sidestep the hassle of repairs.
If you’re short on time, expertise, or funds for home improvements, a cash sale can be a lifeline, offering a quick route to move forward with your life plans.
In this guide, we’ll look at the pros and cons of these house-buying companies in Maine, arming you with the knowledge to make an informed decision.
Sell Your House Fast in Maine 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 Maine.
Disclaimer: This post is meant for educational purposes only and does not constitute legal or financial advice. Links and mentions of Maine area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Maine
Navigating house-buying companies can be straightforward when armed with the right information. We Buy Houses companies can typically close your home sale within seven days to a few weeks. In more urgent cases, a sale can close as quickly as 48-72 hours.
If you’re looking for a fast home sale without the usual hitches of the real estate market, here’s a general overview of the steps you’ll take:
- Research companies: Investigate house-buying companies. Look for credible reviews, company history, and any red flags.
- Initiate contact: Reach out to your chosen company, typically via phone or their online form, to provide details about your property.
- Schedule a home visit: Allow the company’s representative to inspect your property. They will assess its condition, location, and other factors influencing its value.
- Receive an offer: Based on their assessment, the company will give you a no-obligation, all-cash offer. Remember, this is often a take-it-or-leave-it proposition.
- Review and accept: If the offer aligns with your needs, you can accept. Ensure you understand all terms and conditions before proceeding.
- Close the deal: With your agreement, the company will manage the paperwork and typically cover closing costs. Once finalized, you’ll receive a cash offer, and the sale is complete.
Popular We Buy Houses for Cash companies in Maine
If the process of selling to a house-buying company in Maine sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some top companies to pay cash for your Colonial home or your parents’ ranch style house. By selling to one of these companies, you should be able to sell your Maine home in as little as a week or two.
We Buy Houses Maine
Founded in 1998, We Buy Houses is a national homebuying network with independent franchise offices, serving over 200 markets in over 30 states. They buy single-family homes, condos, land, and other real estate types. The process includes the seller providing initial information on the property, followed by a representative viewing the home and making an offer. Once an offer is accepted, the company sets the closing date, and sellers can expect to close within 7-14 days on average. We Buy Houses also work with foreclosures, sellers behind on payments, short sales, landlord-tenant situations, and vacant properties.
Locations: Bangor and Lewiston areas
Closing costs: Sellers pay no closing costs. We Buy Houses covers them.
We Buy Houses has been BBB accredited since 2020 and holds an A+ rating. Customer reviews for We Buy Houses speak to reliability, responsiveness, and fairness. Reviewers express that it was a quick and easy process and an overall great experience.
Website: webuyhouses.com/ME
Phone number: 877-932-8946
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Maine (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 Maine.
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 Maine
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 BBB-accredited with an A+ rating. The company has 4.6 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
Tristate Holdings 167
Tristate Holdings 167, led by Ismael, focuses on providing expert guidance and a fair cash offer, eliminating the need for real estate agents, open houses, or uncertainties about buyer financing. They specialize in quick, all-cash home purchases, aiming to close within 30 days.
Locations: Nationwide, including Maine
Closing costs: Sellers pay no closing costs. Tristate Holdings 167 covers them.
Tristate Holdings 167 holds a 5.0 Google rating. One reviewer shared that Ismael promptly responded within 5 minutes to their online cash buyer offer, delivering insightful information and unbiased expertise.
Website: tristateholdings167inc.com/sell-my-maine-house-fast
Phone number: 888-788-7478
ASAP Cash Home Buyers Maine
Established in 2013, ASAP Cash Home Buyers emerged as a response to distressed homeowners amidst a foreclosure crisis. The company attributes its success to vital collaborations with lenders, title companies, officials, and affiliates.
Locations: Nationwide, including Maine
Closing costs: Sellers pay no closing costs. ASAP Cash Home Buyers covers them.
ASAP Cash Home Buyers maintains a 3.7-star rating on Google. Reviewers share consistently positive experiences, having engaged with the company for multiple home sales. The process is lauded for its speedy nature, with reviewers mentioning the company’s excellent service, amiable staff, and ability to finalize transactions within a few days.
Website: asapcashhomebuyers.com/maine
Phone number: 866-350-6769
Maine Home Solutions
Maine Home Solutions LLC focuses on enriching affordable housing through property acquisition, renovation, construction, and management state-wide. It specializes in assisting homeowners with inherited or probate properties and purchasing distressed, dilapidated, vacant, or problematic houses.
Locations: Nationwide, including Maine
Closing costs: Sellers pay no closing costs. Maine Home Solutions covers them.
Maine Home Solutions LLC’s customer reviews laud their exceptional dedication, with one client praising Mike Weisman and his family-run team. The reviewer expresses deep gratitude for the team’s support, especially Mike’s extra efforts, such as assisting with contractors.
Website: mainecashoffers.com
Phone number: 207-558-0300
Why sell your Maine house for cash?
There are plenty of valid reasons a Maine home seller may choose to work with a Cash-For-Homes company. Leading the list are the benefits of speed, certainty, and remarkable convenience.
In Maine, it typically takes around 73 days to sell a home on the market using an agent. That includes an average of 29 days on the market, plus the typical 44 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 Maine, and it’s clear why this is an attractive option, even though these groups don’t always offer top-dollar for the homes they purchase.
Below are some common scenarios where contacting a We Buy Houses for Cash company might be the correct move.
- Immediate relocation: If you’re moving on short notice due to a new job or military orders, a quick cash sale can simplify your transition.
- Divorce settlement: Selling a shared home quickly may be necessary to settle assets during a divorce.
- Financial distress: When facing mounting debts or potential foreclosure, a fast cash sale can help regain financial stability.
- Inheritance management: Inheriting a home can come with financial and emotional burdens; We Buy Houses companies offer a straightforward resolution.
- Disrepair and damage: If your home requires extensive repairs you cannot afford or manage, selling for cash is a practical option.
- Landlord fatigue: Tired of dealing with tenants and maintenance? Cash buyers provide a way out of your landlord’s duties.
- Health concerns: If health issues necessitate a move to assisted living or downsizing, a quick cash sale can ease the process.
- Retirement: Major life changes, such as retirement or downsizing, can prompt the need for a speedy home sale.
If these situations resonate with you, a Maine house-buying company may present a viable solution. However, it’s essential to start with a broad perspective.
Pros and cons of house-buying companies in Maine
Choosing a house-buying company offers a distinct set of advantages and disadvantages. Before deciding, consider these key points.
Pros
These entities offer a streamlined path to selling your home, which is especially beneficial if you’re in a pinch for time or facing substantial repair needs.
- Fast closing: Expect to close your home sale within days or weeks, not months.
- As-is purchase: There’s no need to invest in repairs or upgrades; companies will buy your house in its current condition.
- No listing hassles: Forget about staging, listing, or showing your home to multiple prospective buyers.
- Simplicity: The process is straightforward, often involving a single point of contact and minimal paperwork.
Cons
However, the speed and ease these companies offer come at a price. Understanding the potential drawbacks is crucial for making a well-informed decision.
- Lower offers: These companies will generally offer less than the market value of your home, reflecting their risk and convenience.
- No negotiations: The initial offer is typically final, leaving no room for bargaining on the price.
- Potential for scams: It’s important to vet the company thoroughly to avoid falling prey to fraudulent schemes.
- Limited market exposure: Selling directly to one buyer means missing out on the possibility of a higher offer from the open market.
As you consider these points, prepare to take the next step: vetting cash buyers and understanding your home’s true worth in Maine’s real estate market.
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
When you decide to work with a We Buy Houses for Cash company, it’s important to remember that your experience will vary depending on who is behind the offer.
Before you commit to any cash offer, take the time to vet the company thoroughly through sites like the Better Business Bureau. Check online reviews, read through testimonials, and assess their market presence and track record in your area.
HomeLight suggests you consult with an experienced Maine 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 for an initial ballpark estimate in less than two minutes.
Other options to sell your home quickly
iBuyers
For a swift home sale, consider iBuyers, which uses automated tools to offer near-instant home valuations and can close quickly, often with service fees. These are ideal for homogenous areas and well-kept homes.
However, it’s important to remember that iBuyers like Opendoor and Offerpad often charge service fees of 5%-6%. They suit sellers who live in regions with homogeneous housing, and whose properties are in relatively good condition.
Listing with an agent
Alternatively, listing with a top real estate agent might yield a higher sale price, especially with a well-priced and well-marketed property. Agents can also provide valuable comparative market analyses (CMAs) to help set competitive pricing and may have connections to cash buyers offering fair market value. Many agents will offer a CMA for free. HomeLight can assist in connecting you with top agents in Maine.
FAQs on Maine house-buying companies
Most We Buy Houses for Cash companies in Maine 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 fairly confident it’s legit.
That said, 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 Maine 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 look at an example offer equation. Let’s say your Maine Colonial home or ranch style home could sell for $390,000 after repairs, but it will need $30,000 of work to get there.
($390,000 x .70) – $30,000 = $243,000
In this example, a Maine We Buy Houses company might offer you around $243,000 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 Maine 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, it’s always a good idea to flat-out ask the company if any hidden program fees might impact your bottom line.
- Research and vet the house-buying companies that serve your Maine 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 Maine vs. top Maine agent
Another helpful exercise compares how a We Buy Houses for Cash company might stack up against working with a real estate agent. Let’s 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 Maine | Sell with a top Realtor in Maine |
| Selling timeline | 7 to 30 days | 72 days average; 29 to attract an offer, 44 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 |
| 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 Maine is currently worth about $390,000 and needs about $30,000 in repairs. Once the repairs are completed, the home might be worth around $420,000.
| Sell to a We Buy Houses for Cash company in Maine | Sell with a top Realtor in Maine | |
| Estimated sale price | ($420,000 x .70) – $30,000 = $264,000 | $390,000 |
| Market preparations | 0 | $3,900 (1% of sale price) |
| Agent commissions | 0 | $22,620 (5.8% of sale price) |
| Closing costs | 0 | $5,850 (1.5%) |
| Estimated take-home for seller | $264,000 | $357,630 |
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 a challenge in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Fast cash option: We Buy Houses for Cash companies in Maine can offer a quick sale.
- No repairs needed: You can sell your house as-is, without investing in any repairs or upgrades.
- Simple process: The sale process is straightforward and can be completed quickly.
- Below market value: Typically, these companies will offer less than what you might get on the open market.
- Due diligence: It’s crucial to vet the buying company and understand the terms of the sale.
- Know your market: Understanding the value of your home in the current Maine market is key.
- Explore options: Don’t overlook the possibility of a traditional sale which could yield a higher price.
In considering a Cash-For-Homes company in Maine, take the time to collect multiple offers and carefully consider your choices.
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 Maine agent.
