5 Top We Buy Houses for Cash Companies in New Orleans
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Richard Haddad Managing EditorClose
Richard Haddad Managing EditorRichard Haddad is the managing editor of HomeLight.com. He works with an experienced content team that oversees the company’s blog featuring in-depth articles about the home buying and selling process, homeownership news, home care and design tips, and related real estate trends. Previously, he served as an editor and content producer for World Company, Gannett, and Western News & Info, where he also served as news director and director of internet operations.
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.
Faced with a life change, you may be looking for an easier or faster way to sell your home. We Buy Houses companies in New Orleans make all-cash offers for homes that often need some work. This enables sellers who lack the time, expertise, or money for repairs to move quickly and receive their cash proceeds sooner than a traditional home sale.
Whether it’s a new job beckoning or an unforeseen financial pinch, or even a pressing need to liquidate an inherited property in the Big Easy, the promise of a swift sale can be enticing.
In this post, we unpack the workings of house-buying companies in New Orleans and shed light on your available options. We also provide guidance on how much these companies might offer for your home, and how you can weigh your options so you’re comfortable making a decision.
Sell Your House Fast in New Orleans With a Cash Offer
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Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of New Orleans area “we buy houses” companies should not be considered an endorsement.
Working with house-buying companies in New Orleans
As a homeowner in New Orleans in need of a swift sale, working with a house-buying company may be a practical option. These businesses provide convenient, all-cash offers with expedited closing times, often wrapping up the sale in as few as seven days or sooner. Particularly appealing to those with properties needing repairs, these companies have honed their processes for sellers looking to transition promptly.
Here’s how the process generally works:
- You request an all-cash offer. Start by providing information about your property to the company. Many house-buying companies in New Orleans will make a preliminary offer soon after receiving your request. Keep in mind, though, this initial offer might be subject to adjustments after a home inspection.
- The company performs a walk-through. An on-site property visit is typically arranged within 24 to 48 hours of your request. This timeframe can fluctuate depending on the company and the market.
- You receive a firm offer. After the walk-through, you’ll typically receive a final cash offer within 24 hours. Most house-buying companies present a non-negotiable, take-it-or-leave-it price at this stage. It’s your call whether to accept or decline.
- If you accept the offer, you’ll both sign a sales contract. Once you agree to the offer, the closing process begins. Some companies might provide a large deposit or help with moving costs, while others may pay the full amount upfront.
- Close the sale and get paid quickly. House-buying companies often close the sale between a week and a few weeks, offering sellers flexibility in choosing a convenient move-out date. This timeframe, however, can differ depending on the company.
Popular We Buy Houses for Cash companies in New Orleans
If these benefits of selling to a house-buying company in New Orleans sound good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some of the top companies that will pay cash for your parents’ Creole Cottage or Shotgun House. By selling to one of these companies, you should be able to sell your New Orleans home in as little as a week or two.
NOLA Buys Houses
NOLA Buys Houses is a reputable real estate solutions company that was founded in 2001 by a family trio – a father, a brother, and the current owner. With over 1,000 successful transactions, they are experts when it comes to buying homes, providing homeowners in New Orleans with fast cash offers, regardless of the property’s condition.
As a local family-owned business, they have deep roots in the community and a passion for helping people. As of 2022, NOLA Buys Houses gives $100 to Children’s Hospital of New Orleans every time they purchase a home.
Locations: Greater New Orleans Area
Closing costs: Sellers pay no closing costs; NOLA Buys Houses covers them.
NOLA Buys Houses has been BBB accredited since April 2, 2023, and holds an A+ rating. Customer reviews for NOLA Buys Houses speak to the speed and efficiency of the home-selling process, with transactions completed in as little as 10 days. Reviewers express the staff’s helpfulness and knowledge, making the experience of selling multiple properties simultaneously feel simple and stress-free. Clients also admire what they considered fair offers provided without the need for fees, repairs, or inspections. NOLA Buys Houses has a Google average rating of 5.0 from more than 30 reviews.
Website: nolabuyshouses.com
Phone number: 504-264-1407
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in New Orleans (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 New Orleans.
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 New Orleans
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
Home Buyer Louisiana
Home Buyer Louisiana, a New Orleans-based real estate solution company, was founded in 2020 to help homeowners navigate difficult situations such as code violations, foreclosure, tax liens, and problem tenants. They may fix and flip, rehab and rent, or explore other options depending on the circumstances. They specialize in buying houses in any condition and can close fast, offering sellers the convenience of an as-is sale. Home Buyer Louisiana strives to provide valuable information to homeowners, empowering them to make the best decisions for their situation.
Locations: Available throughout Louisiana
Closing costs: Sellers pay no closing costs; Home Buyer Louisiana covers them.
Home Buyer Louisiana has been BBB accredited since April 16, 2020, and holds an A+ rating. Customer reviews for Home Buyer Louisiana praise the company for its professionalism, efficiency, and care throughout the home-selling process. They speak to the staff’s empathetic and trustworthy nature, making clients feel guided and cared for during the emotional process of selling a beloved home.
Website: homebuyerlouisiana.com
Phone number: 504-332-7676
Orleans Cash Buyers
Orleans Cash Buyers, a locally owned and operated real estate investment company, was founded by a team of experts with years of experience in the real estate industry. They buy homes as-is, eliminating the need for costly repairs, and offering fair cash prices without hidden fees or commissions. With a dedicated team of local investors, Orleans Cash Buyers aims to maximize the potential of each property. Their commitment to seamless transactions ensures clients experience a hassle-free process from evaluation to closing.
Locations: Greater New Orleans area
Closing costs: Sellers pay no closing costs; Orleans Cash Buyers covers them.
Orleans Cash Buyers has a 5.0-star rating on Google. Clients consistently praise the company for its excellent communication, professionalism, and expertise in the real estate field. Representatives are highlighted for their promptness, efficiency, and ability to provide data-backed figures, making clients feel confident and informed throughout the transaction process. Clients appreciate the transparent and fair approach to property valuation, with offers exceeding expectations for some clients, and resulting in smooth and quick transactions.
Website: orleanscashbuyers.com
Phone number: 504-224-9855
Big Easy Buyers
Big Easy Buyers was founded in 2017 with a mission to provide quick cash offers for homes in any condition. It offers to purchase properties as-is, saving sellers from investing time and money into repairs. With a focus on the New Orleans market, Big Easy Buyers has served numerous homeowners, offering cash on the spot for a quick and seamless sale process. Compared to traditional realtors, Big Easy Buyers requires no commissions, financing contingencies, or closing costs.
Locations: Greater New Orleans Area
Closing costs: Sellers pay no closing costs; Big Easy Buyers covers them.
Big Easy Buyers has a 5.0-star rating on Google. Clients praise the company for their prompt and compassionate service. Representatives are commended for their honesty and trustworthiness, making clients feel at ease during the home-selling process. Clients appreciate the diligence and mindfulness of the team, especially in sensitive situations, which leads to a quick and comfortable closing process.
Website: bigeasybuyers.com
Phone number: 504-513-7878
Why sell your New Orleans house for cash?
There are numerous reasons why a homeowner in New Orleans might choose to work with a cash-offer company. The allure of speed, a guaranteed transaction, and exceptional convenience frequently top the list of considerations.
In New Orleans, it typically takes around 105 days to sell a home on the market using a real estate agent. That includes an average of 62 days on the market, plus the typical 43 days a buyer needs to close on a purchase loan.
Contrast this with the seven to 10 days often guaranteed by many house-buying companies in New Orleans. It becomes apparent why Cash-For-Homes operations, although not always offering premium prices, are growing in appeal. They are particularly attractive to sellers who lack the luxury of weeks or months to prepare, market, and close a conventional home sale.
Let’s examine some of the most common reasons why New Orleans homeowners decide to use a We Buy Houses for Cash company instead of listing their property the traditional way.
- The property suffers from extensive repair issues prevalent in New Orleans, such as damage from hurricanes, marsh fires, flooding, or extreme heat days.
- The seller requires immediate cash or needs to relocate urgently due to divorce, medical emergencies, financial distress, job relocation, or other life-altering circumstances.
- The seller is not in a position or does not wish to fund and conduct home repairs.
- The seller wishes to avoid the stress, effort, and complexities involved in prepping the home, staging, coordinating showings, negotiating, or managing a lengthy and intricate sales process.
- The seller prefers a private, off-market sale to a cash buyer.
- The seller is at risk of foreclosure and aims to sell the property and clear their debts with the lender before the situation escalates or their credit history deteriorates.
- The seller seeks a fast and straightforward method to divest an inherited property.
- The seller is a landlord who no longer wants to manage a rental property, or wants to relieve themselves of a troublesome tenant.
- The homeowner is aging and transitioning to live with relatives or a care facility, necessitating the family to sell the property for convenience or to finance the move.
- The seller lives out of state and wants the advantages of an easy, rapid cash sale.
If you’re a homeowner dealing with any of these scenarios, requesting a cash offer from a We Buy Houses company could be a worthwhile alternative to explore. However, it’s wise to consider this as a starting point in your hunt for solutions. Whether it’s the best move for you can only be determined after gaining an understanding of the pros and cons and the other options at your disposal, which we’ll review next.
Pros and cons of house-buying companies in New Orleans
By now, you’ve likely realized that We Buy Houses for Cash companies in New Orleans trigger a mixed bag of thoughts that can be difficult to sort out. While the allure of swift transactions and convenience is evident, you might grapple with the cost or the lost proceed implications of using a cash-offer service.
In the next section, we’ll review the pros and cons of using a We Buy Houses for Cash company so you can make a more informed decision.
Pros
A standout benefit of partnering with We Buy Houses for Cash companies in New Orleans is their willingness to purchase homes in their existing condition, relieving sellers of potential repair or upgrade burdens. Whether your property has endured weather-induced damage or lacks timely maintenance, these companies buy homes without the need for extensive refurbishments often expected by traditional mortgage-financed buyers.
Here are some other pros to consider:
- Speed: Houses can frequently be sold within a condensed timeframe of seven to 10 days.
- More certainty: Thanks to preliminary walk-throughs, these groups can provide definitive cash offers, often without contingencies. Their refined protocols eliminate conventional holdups, enabling sellers to make moving plans with more confidence.
- No repairs: If you’re either financially constrained or simply unwilling to undertake repairs, We Buy Houses companies present a convenient way to sell properties in poor or less-than-optimal condition.
- Less hassle: Absent are concerns related to showings, negotiations, undervalued appraisals, or the uncertainty of a buyer’s financing. Working with a credible We Buy Houses for Cash firm in New Orleans typically promises a smooth transition from the offer phase to the final closing.
These benefits might appeal to sellers aiming for a swift move as opposed to the often lengthy process associated with traditional home sales. However, it’s important to look at the drawbacks of Cash-For-Homes companies, primarily, their reputation for offering substantially below market value for your home.
Cons
It’s prudent to remember that We Buy Houses entities fundamentally seek profit. They plan to fix up your home and either resell it or rent it out. This requires them to invest considerable resources and expertise.
Here are some of the potential cons:
- Lower-priced offers: Most cash-offer companies follow the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value (or the value that your house could sell for on the market once it’s all fixed) minus repair costs. This means the cash offer you receive may be significantly lower than what you might get for your home on the open market.
- Inconsistent market knowledge: House-buying firms vary in their market knowledge. While some possess local insights like neighborhood trends, which can improve the competitiveness of their cash offers, others might be unaware of what’s happening in your area, translating to a lowball offer.
- Untrustworthiness: As with any industry, the risk of associating with dubious companies is something to keep in mind. Some might exploit homeowners with unwarranted low offers or employ high-pressure tactics. While it’s rare, fraudulent practices aren’t entirely absent.
- Pressure tactics: Recognizing the desperation accompanying swift sales, some We Buy Houses companies employ aggressive persuasion tactics. If you feel coerced into a hasty decision, it’s best to reconsider your options. Fortunately, New Orleans is host to a number of reputable We Buy Houses companies to select from.
Your home, beyond being a treasure trove of cherished memories, also represents a significant financial asset. While a fast sale is enticing, using a We Buy Houses for Cash business might compromise your property’s true worth.
It’s important to compare your options and seek counsel from trusted advisors before committing to a house-buying company.
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
The level of integrity and service you experience from a We Buy Houses for Cash company can vary, even within an established house-buying group that strives to maintain high standards. This is because many Cash-For-Homes companies are franchises and often use independent investors or wholesaling outfits. Your experience depends on the character of the person or group making the offer.
Before committing to a cash offer, vet the company thoroughly. Check reviews, read testimonials, and research its presence and performance in the market. And, of course, read the purchase agreement carefully before signing.
HomeLight recommends that you consult with a seasoned local Realtor to get a better handle on your home’s potential market value. 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 home quickly
iBuyers
iBuyers, short for instant buyers, fall under the Cash-For-Homes category and are renowned for using automated valuation models (AVMs). These AVMs use both historical and current market data to give almost immediate home value estimates, paving the way for a streamlined, mostly digital home sale journey. Emerging in the mid-2010s, iBuyers have become bigger players in the home-sale landscape, emphasizing all-cash offers that are generally more in line with market value for homes that have been well maintained and do not require significant repairs.
The time from receiving an offer to closing the deal typically spans a few days up to two weeks. However, note that national iBuyers like Opendoor and Offerpad often charge service fees ranging from 5% to 6%. They’re typically a better option for sellers residing in areas with standardized housing and for homes that are in relatively good condition.
Listing with an agent
Seeing the real estate agent option in a discussion predominantly about Cash-For-Homes ventures might be surprising. Most homeowners looking into house-buying companies want a fast sale, not one that could take 105 days. However, there’s value in weighing every possibility and knowing what’s at stake.
In situations where the market leans in favor of sellers, enlisting your property with a leading real estate professional can expedite the sale, especially when the home is priced smartly and marketed properly.
Depending on the property and local market conditions, using an agent could pay off. Selling on the market typically yields the highest selling price, even more so if you partner with a proven professional. HomeLight’s internal real estate transaction data shows that the top 5% of agents sell homes for up to 10% more than average agents.
One of the big advantages of partnering with a trustworthy agent is the in-depth perspective they can provide through a comparative market analysis (CMA). This report, tailored for home sellers, functions as a tool to determine home valuation. The CMA evaluates a home’s size, features, location, age, and other details in relation to similar properties that have recently sold in the area. A well-crafted CMA can guide you toward an effective listing price and help predict how quickly your home might sell.
Moreover, a seasoned agent who knows your local market might even be a bridge to prospective cash buyers willing to make an offer that’s closer to your property’s market value.
Many agents offer a CMA at no cost and no obligation to use their services. This report can be a vital asset when gauging your choices. If your final verdict tilts toward a house-buying company, you can move forward with more confidence, knowing that you have compared your options.
HomeLight stands ready to connect you with a top real estate professional in your city.
FAQs on New Orleans house-buying companies
By and large, most We Buy Houses for Cash companies serving the New Orleans area are legitimate businesses. Their services and transaction fees may differ, but the business model has been around for decades. If you use an established group with a 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.
As described in our pros and cons list above, most 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 New Orleans Shotgun House could sell for $350,000 after repairs, but it’s going to need $30,000 of work to get there.
($360,000 x .70) – $30,000 = $222,000
In this example, a New Orleans We Buy Houses company might offer you around $222,000 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 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 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 New Orleans vs. top New Orleans 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 New Orleans | Sell with a top Realtor in New Orleans |
| Selling timeline | 7 to 30 days | 105 days average; 62 to attract an offer, 43 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 New Orleans is currently worth about $360,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $385,000.
| Sell to a We Buy Houses for Cash company in New Orleans | Sell with a top Realtor in New Orleans | |
| Estimated sale price | ($385,000 x .70) – $25,000 = $244,500 | $360,000 |
| Market preparations | 0 | $3,600 (1% of sale price) |
| Agent commissions | 0 | $20,880 (5.8% of sale price) |
| Closing costs | 0 | $5,400 (1.5%) |
| Estimated take-home for seller | $244,500 | $330,120 |
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
- We Buy Houses for Cash companies in New Orleans offer a streamlined process, potentially enabling you to sell your home in as little as a week, without the demands of repairs, staging, or public showings.
- New Orleans hosts a number of established Cash-For-Homes companies.
- Leveraging a We Buy Houses service might mean leaving a significant amount of money on the table compared to an agent-assisted or iBuyer sale.
- HomeLight’s Simple Sale platform provides no-obligation, all-cash offers for homes in almost any condition throughout New Orleans. 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.
While house-buying companies can be a good solution for homeowners in New Orleans eager for a fast sale, it’s important to weigh the benefits against the potential pitfalls. In the landscape of home selling, hasty decisions can be costly.
Before making a commitment to a Cash-For-Homes company, gather multiple offers and pause long enough to weigh your options. Compare your cash offer with the opinion of a top New Orleans Realtor for expert insights on how soon, and for how much, your property might sell on the open market.
Whatever you decide, HomeLight would be happy to help with your real estate needs!
Header Source: (Josh Doguet / Unsplash)
