5 Top We Buy Houses for Cash Companies in Queens
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Richard Haddad Executive EditorClose
Richard Haddad Executive EditorRichard Haddad is the executive 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.
We Buy Houses companies in the Queens borough of New York make all-cash offers for homes that often need some work, enabling New York sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.
If you’re confronted with an urgent home-selling situation, a cash-offer company can provide a fast solution, allowing you to embark on the next chapter of your life.
However, like any significant decision, selling to a cash-for-homes company comes with its set of advantages and drawbacks. In this post, we’ll explain the process and cover the pros and cons of partnering with a Queens-area house-buying company, giving you valuable insights to make an informed decision.
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Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of Queens-area “We Buy Houses” companies should not be considered endorsements.
Working with house-buying companies in Queens
If you’re contemplating partnering with a Queens-area We Buy Houses company for a quick sale, here’s the process you can expect:
1. Research potential buyers: Research and identify reputable house-buying companies in Queens. Look for reviews, testimonials, and any red flags.
2. Contact your chosen company: Once you’ve zeroed in on a company, reach out to them. Typically, they’ll ask you to provide details about your home and its condition.
3. Schedule a property inspection: After initial contact, the company likely will arrange a visit to inspect your home. This helps them evaluate its condition and determine an appropriate offer.
4. Receive an all-cash offer: Based on the inspection, the company will present you with an all-cash, no-obligation offer. These offers generally are firm, with little to no room for negotiations.
5. Review the contract details: If you’re comfortable with the offer, ensure you go through the contract thoroughly. Understand all terms and conditions, and consult a lawyer if necessary.
6. Close the deal: Once everything is agreed upon, the company will handle most of the closing logistics, and you’ll receive your cash, often within days.
Note: Individual program details frequently change. Please visit a company’s website for the most up-to-date information. HomeLight always recommends doing your own research to determine which selling option is best for your situation.
Popular We Buy Houses for Cash companies in Queens
If the process of selling to a house-buying company in Queens sounds 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 rowhouse-style home or your parents’ Dutch-Colonial house. By selling to one of these companies, you should be able to sell your Queens home in as little as a week or two.
VSJ Home
VSJ Home offers a unique home-selling experience that streamlines the traditional process. The company prioritizes the homeowner’s convenience, allowing them to select their closing date with the added advantage of flexibility to alter it if required. With VSJ Home, homeowners can bypass the inconvenience of hosting strangers for showings or open houses, ensuring a more private transaction. Most notably, sellers can rejoice in the fact that the company charges no commission or fees, ensuring they retain 100% of the cash offer.
Locations: Long Island and the New York boroughs, including Queens
Closing costs: Sellers pay no closing costs; VSJ Home covers them.
VSJ Home has garnered positive feedback from clients who emphasize the company’s professionalism and efficiency. Customers appreciate the straightforward nature of transactions with VSJ Home, noting that the company delivers on its promises promptly. Sellers received the full amount they were promised, highlighting the trustworthiness of the service. Overall, the experience of working with VSJ Home is described as exceptional, with clients commending the professionalism exhibited by the entire team. The company is also backed by a Google rating of 5.0.
Website: vsjbuyshomes.com
Phone: 631-913-8242
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Queens 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, and 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 Queens.
With Simple Sale, you can get a no-obligation, all-cash offer in as little as 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 Queens
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 4.8 stars on Google based on hundreds of 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
We Buy Land Property NY
We Buy Land Property NY has solidified its standing in the New York real estate arena with more than 10 years of experience. Committed to streamlining the property-selling journey, the firm’s adept managers excel in crafting solutions that cater to each client’s distinct requirements. Their long-standing history in real estate trading accentuates their trustworthiness and aptitude in managing varied scenarios proficiently. With a focus on individualized service, they strive to make every deal smooth and advantageous for the property owner.
Locations: Brooklyn and the surrounding areas, including Queens
Closing costs: Sellers pay no closing costs; We Buy Land Property NY covers them.
Customers of We Buy Land Property NY value the company’s direct and streamlined method of acquiring properties. They have a 5-star Google rating, and numerous clients who are grappling with issues like managing troubled properties or overwhelming paperwork were pleased by the company’s smooth approach. One customer praised a company’s expertise for transforming his property into a valuable investment. Another expressed satisfaction in receiving a fair price for her property without the hassle of paperwork. A third, initially skeptical about selling for cash, found the honest team provided a fair offer based on a friend’s recommendation. Giselle Orta appreciated their professionalism in contrast to other companies that broke promises and made low offers during a stressful time. We Buy Land Property NY is not currently listed on the BBB’s website.
Website: webuylandpropertyny.com
Phone: 646-693-0573
Five Boro Home Buyers
Five Boro Home Buyers has established itself as a trusted name in the New York real estate market, backed by years of experience. Specializing in providing win-win solutions, the company assists homeowners facing challenges like foreclosure, burdensome properties, or other pressing circumstances. As a family-owned business, they prioritize a supportive approach, ensuring clients feel comfortable throughout the process. Committed to personalized service, they empower homeowners to make informed decisions without pressure, creating a reassuring environment for every transaction.
Locations: Office in Hempstead, serving the five boroughs, including Queens, and Staten Island
Closing costs: Sellers pay no closing costs; Five Boro Home Buyers covers them.
Customers have given Five Boro Home Buyers a Google review rating of 4.8, and consistently praise the team’s kindness, professionalism, and genuine attentiveness, highlighting a seamless experience in selling their properties. Many recommended the company for its knowledgeable and responsive service, ensuring a pleasant transaction. Overall, the reviews reflect a strong endorsement of the company’s commitment to client satisfaction and support. Five Boro Home Buyers is not currently listed on the BBB’s website.
Website: newyorkhomesforcash.com
Phone: 516-870-4462
718 Homebuyers / We Buy Houses New York
718 Homebuyers — listed as We Buy Houses New York on Google Maps — is a distinguished family-owned real estate investment enterprise, anchored in The Bronx, New York. Led by Keith Morris, the company boasts a 10-year history of presenting prompt, all-cash proposals to homeowners confronting various issues, including foreclosure, probate, or problematic tenants. Formerly a prominent personality in the music scene, Keith shifted his attention to supporting local communities. Today, his empathetic and tailored approach has benefited innumerable homeowners.
Locations: Bronx, Brooklyn, Manhattan, Queens
Closing costs: Sellers pay no closing costs; 718 Homebuyers covers them.
718 Homebuyers consistently receives accolades from homeowners for its adept and caring services. The firm’s proficiency in managing intricate property sales, especially those involving inherited homes, has been widely recognized. Keith, a standout figure at the company, is regularly lauded for his integrity, fairness in pricing, and utmost professionalism. Clients often mention the seamless closing process and the company’s dedication to making transactions as straightforward as possible. 718 Homebuyers has earned a 5-star Google review rating, but is not currently listed on the BBB’s website.
Website: 718homebuyers.com
Phone: 718-503-2233
Why sell your Queens house for cash?
There are plenty of valid reasons a Queens 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 Queens, it typically takes about 122 days to sell a home on the market using an agent. That includes an average of 79 days on the market, plus the typical 43 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 Queens, 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.
Let’s take a quick look at some common situations where Queens homeowners might see a house-buying company as an appealing solution:
- Job relocation: You need to move quickly for a new job and can’t wait for a traditional home sale.
- Divorce: You want to quickly divide assets and move on with your life.
- Inherited property: You’ve inherited a house and prefer a quick sale to dealing with maintenance or renting.
- Downsizing: You’re looking to move into a smaller home or retirement community without the hassle of prepping and showing your current home.
- Repairs needed: Your home requires significant repairs that you can’t afford or don’t want to manage.
- Avoiding open houses: You prefer to avoid the stress and inconvenience of multiple showings and open houses.
- Foundation issues: Your home has structural problems, making it less attractive to traditional buyers.
- Foreclosure: You’re facing foreclosure and need to sell quickly to settle your debts.
- Problem tenants: You’re a landlord tired of managing tenants and want a quick sale of your rental property.
- Selling from out of state: You own a property in Queens but live elsewhere and want the ease of a fast, remote sale.
If any of these situations resonate with you, exploring a We Buy Houses company could be a smart step forward. However, view this as just the beginning of your journey toward finding the best solution. To make a well-informed decision, it’s important to carefully consider the pros and cons while reviewing all your available options.
Pros and cons of house-buying companies in Queens
One of the biggest advantages of working with We Buy Houses for Cash companies in Queens is that you can sell your home as-is with no repairs required, and they’ll buy homes in any condition.
If your home was severely damaged in a weather event, or you’ve fallen years behind on routine maintenance, you can still sell without needing to make the extensive repairs that financed buyers may require.
Here are some other pros to consider:
Pros
Speed: You can typically sell your house in as few as seven to 10 days, providing a quick solution for urgent situations.
Buy as-is: Companies will buy your house as-is, meaning no repairs or cleaning are required before the sale.
Certainty: These companies offer firm cash deals with few or no contingencies, ensuring a smoother, more predictable process.
Convenience: Skip the hassle of showings, open houses, and negotiations, making the sale process much easier and less stressful.
Cons
The most significant con of selling to a house-buying company is that they will likely offer you below market value for your home compared to selling on the market with an experienced real estate agent. Here are some of the key drawbacks:
Lower offers: Expect offers to be lower than what you might receive on the open market.
Potential for scams: Be cautious of scams and dishonest companies; always vet your buyers.
Limited negotiation: There’s typically little to no room for negotiating the price.
No agent expertise: You miss out on the professional guidance and market knowledge that a real estate agent provides.
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 choose to sell your Queens home to a top We Buy Houses for Cash company, remember that the level of service and integrity can vary widely. Much of your experience hinges on the character of the individuals or group behind the offer.
Before you commit, it’s essential to vet the company thoroughly. Look into their reviews, sift through testimonials, and gauge their market presence and track record. Moreover, don’t let the allure of a quick sale blind you to the finer details. Always read the buying agreement with a discerning eye before signing.
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 Queens market. You can also use HomeLight’s Home Value Estimator to get an initial estimate in less than two minutes.
Other options to sell your Queens home quickly
iBuyers
iBuyers use automated valuation models (AVMs) to make almost immediate home value estimates, offering a streamlined, largely online selling process. Founded in the mid-2010s, they focus on giving all-cash offers, often near market value, for well-maintained homes.
The entire sale, from offer to close, can span from days to two weeks. Notable iBuyers like Opendoor and Offerpad typically charge fees of 5% to 6%. This method best suits properties in areas with similar housing types and homes in good shape.
Listing with an agent
Though perhaps unexpected in this context, listing with an agent can lead to swift sales, especially in seller-friendly markets and with strategic pricing and marketing. Typically, selling via the market fetches higher prices, more so with top agents. HomeLight data indicates that the top 5% of agents sell homes for up to 10% more than average agents.
A seasoned agent will offer valuable insights, like a comparative market analysis (CMA), which helps determine your home’s value and potential selling speed. A CMA, often provided free, aids in decision-making, ensuring informed choices.
Some agents with local market expertise may even connect you with cash buyers who offer closer to market value. If you’re interested in exploring this option, HomeLight can help by linking you with top real estate agents in the Queens area.
FAQs on Queens house-buying companies
Most We Buy Houses for Cash companies in Queens 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 legitimate.
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.
Most Queens We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value (ARV), 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 Queens rowhouse-style house could sell for $619,000 after repairs, but it’s going to need $30,000 of work to get there.
($619,000 x .70) – $30,000 = $403,300
In this example, a Queens We Buy Houses company might offer you about $403,300 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’re likely facing a trade-off. On one hand, it won’t cost you extra since these companies manage nearly everything after the offer is accepted. On the other hand, you’ll probably receive 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 ask the company if there are any hidden program fees that might affect your bottom line.
1. Research and vet the house-buying companies that serve your Queens area. Our list above is a good place to start.
2. Submit offer requests to a few of the companies you like best.
3. Schedule any required on-site property visits.
4. Compare offers. Consider the pros and cons and choose the best option for you.
5. 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 Queens vs. a top Queens 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 Queens | Sell with a top Realtor® in Queens |
| Selling timeline | 7 to 30 days | 122 days average; 79 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 | 3% to 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 Queens is currently worth about $619,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth about $644,000.
| Sell to a We Buy Houses for Cash company in Queens | Sell with a top Realtor in Queens | |
| Estimated sale price | ($644,000 x .70) – $25,000 = $425,800 | $619,000 |
| Market preparations | 0 | $6,190 (1% of sale price) |
| Agent commissions | 0 | $18,570 (3% of sale price) |
| Closing costs | 0 | $9,285 (1.5%) |
| Estimated take-home for seller | $425,800 | $584,955 |
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 sale: House-buying companies in Queens offer a speedy transaction, often finalizing deals in mere days or weeks.
- No need for repairs: These companies purchase homes in as-is condition, eliminating the need for costly repairs or renovations.
- Straightforward offers: While there’s minimal room for negotiation, you get a straightforward, no-obligation offer.
- Below market value offers: Selling to a house-buying company will typically result in a lower offer than the market value of your home.
- Alternative options available: Remember that iBuyers and top real estate agents in Queens also present quick and profitable selling options.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
For those considering a Queens cash-for-homes company, it’s smart to collect multiple offers and thoroughly assess your options before sealing the deal.
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 Queens agent.
Header Image Source: (Greg Keelen / Unsplash)
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