8 Top We Buy Houses for Cash Companies in Massachusetts

Popular We Buy Houses for Cash companies in Massachusetts

If these benefits of selling to a house-buying company in Massachusetts 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 parent’s Colonial or Cape Cod-style house. By selling to one of these companies, you should be able to sell your Massachusetts home in as little as a week or two.

Why sell your Massachusetts house for cash?

There are plenty of valid reasons a Massachusetts 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 Massachusetts, it typically takes around 70 days to sell a home on the market using an agent. That includes an average of 27 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 Massachusetts, 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.

These companies are growing in popularity, especially for sellers who do not have the typically required long weeks or months to prepare, market, and close on a traditional home sale. Let’s look at some of the most common reasons Bay State sellers decide to use a We Buy Houses for Cash company over listing a property the traditional way.

• The home has significant repair issues common in Massachusetts, such as aging systems and structural problems.
• The seller needs to cash in quickly or move ASAP due to a divorce, medical need, financial strain, job relocation, or some other pressing family or life change.
• The seller doesn’t have the necessary funds or desire to make home repairs.
• The seller doesn’t want the stress, work, or headaches of prepping the home, coordinating showings, negotiating, or navigating a lengthy or complex sales process.
• The seller desires the privacy of selling their property quietly off-market to a cash buyer.
• The seller is facing foreclosure and just wants to sell the home and settle their debts with the lender before the situation (or credit history) gets worse.
• The seller wants a convenient and fast way to unload an inherited property.
• The seller is a landlord who no longer wants to manage a rental property, or wants to relieve themselves of a problem tenant.
• The homeowner is growing old and moving in with a relative or into a care facility, prompting their family to sell the property for convenience or to help fund the move.
• The seller is living out of state and desires the benefits of an easy, quick cash sale.

If you are a homeowner facing any of these circumstances, requesting a cash offer from a We Buy Houses company might be a good option to consider. However, it’s prudent to think of this as a starting point in your search for solutions. You won’t know if it’s your best move until you know more about other options available to you, which we’ll help you review in a minute.

Pros and cons of house-buying companies in Massachusetts

At this point, you’ve probably noticed that We Buy Houses for Cash companies in Massachusetts can trigger a mixed bag of thoughts that can be difficult to sort. You may like the idea of speed and convenience, but you might be having trouble balancing these with the premium you might pay for a cash-offer service.

In this next section, we’ll walk you through some of the pros and cons of using a We Buy Houses company so you can better weigh your options.

That all may sound pretty great to you as a seller if you’re looking to move within weeks rather than the months it might take you to list and sell your home on the market with an agent. However, there are downsides to working with Cash-For-Homes companies. Namely, they typically offer substantially below market value for your home.

Your home is more than a place where you make memories with family; it’s also likely your biggest asset. Sure, you want to sell quickly, but you could be leaving major money on the table if you choose to work with one of these We Buy Houses for Cash companies.

Always do your research, compare your options, and consult with a trusted advisor before accepting any offer.

Vet cash buyers and know your home’s worth

For many home sellers, We Buy Houses for Cash companies can be a solid solution to get a property sold quickly or to access cash for an expected life challenge. On the other hand, the “cash for your home” rehabbing business model has also led to what some housing advocates call predatory tactics.

The level of integrity and customer service you experience can vary, even within an established house-buying company that strives to maintain consistent business standards. This is because many We Buy Houses for Cash companies are franchises and often use independent investors or local wholesaling outfits. Your experience greatly depends on the character of the person or group making the offer.

If you are considering 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 buying agreement carefully before signing.

Get a home value estimate

Before committing to a We Buy Houses for Cash company, HomeLight suggests you consult with a top agent to get a better idea of what your home might be worth if sold on the open market. Then, compare cash offers to what a top agent might be able to get for your home. HomeLight can connect you with a top-performing agent in your market.

You can also use HomeLight’s free Home Value Estimator right now to get an initial ballpark estimate in less than two minutes.

Other options to sell your home quickly

iBuyers

Within the Cash-For-Homes industry, you’ll also encounter a particular group of companies known as iBuyers, or instant buyers.

iBuyer companies offer sellers many of the same conveniences of other house-buying operations, but they also leverage automated valuation models (AVMs), which use algorithmic technology to apply historical and current market data to their estimates. AVMs allow iBuyers to make a near-instant offer on your home and provide a user-friendly, mostly online home sale experience.

iBuyers have only been around since the mid-2010s but are now widely available across Massachusetts.

iBuyers provide all-cash offers for homes and can close a sale in a matter of days to a few weeks. However, unlike typical We Buy Houses for Cash companies, iBuyers generally seek out homes that are in better condition and usually provide cash offers that are closer to market value, typically in the 85%-95% range. iBuyer offers can sometimes be even higher, depending on the location and market conditions.

When considering the iBuyer option, it’s important to note that major iBuyer companies like Opendoor and Offerpad typically charge sizable service fees that can range between 5%-6%.

Sellers who may be a good fit to work with an iBuyer in Massachusetts include those who prefer to skip staging and showing their home, who live in an area with somewhat similar housing, and who have a home in relatively good shape.

Listing with an agent

It might be surprising to see this agent option included in our story about Cash-For-Homes businesses. Most homeowners seeking information about house-buying companies want to sell a home quickly, not in 70 days. But it’s wise to consider all your options.

If your home is in a seller-friendly housing market, listing your property with a top real estate agent can result in a fast sale, especially if the house is strategically priced and superbly marketed.

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.

Another significant benefit of consulting with a trusted agent is the insight they can provide through a comparative market analysis (CMA). This is a market report that real estate agents provide to home sellers that acts as a tool to calculate the value of a home. 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 CMA can help you determine an appropriate listing price, which can help estimate how quickly it might sell.

In addition, an experienced agent who knows your market may even be able to connect you with buyers who are willing to provide you with a cash offer that’s closer to your home’s market value.

Many agents will provide a CMA for free, with no obligation to list your home with them. It can be a valuable tool to weigh your options. If, in the end, you decide to sell to a house-buying company, you can proceed with more confidence, knowing you fully examined your options and made a sound financial decision.

If you are interested in exploring the agent option, HomeLight can connect you with a top-performing real estate agent in your area today.

We Buy Houses for Cash in Massachusetts vs. top Massachusetts 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 MA	Sell with a top Realtor in MA
Selling timeline	7 to 30 days	70 days average; 27 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%-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 Massachusetts is currently worth about $648,500 and needs about $30,000 in repairs. Once the repairs are completed, the home might be worth around $678,500.

	Sell to a We Buy Houses for Cash company in MA	Sell with a top Realtor in MA
Estimated sale price	($678,500 x .70) – $30,000 = $444,950	$648,500
Market preparations	0	$6,485 (1% of sale price)
Agent commissions	0	$19,455 (3% of sale price)
Closing costs	0	$9,728 (1.5%)
Estimated take-home for seller	$444,950	$612,833

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.

House-buying companies can be a good alternative for Massachusetts sellers in need of a quick home sale, but it’s important to consider both the benefits and drawbacks. When it comes to selling your home, it’s wise to avoid making any hasty decisions.

Before making a commitment to a Cash-For-Homes company, gather multiple offers and take the time to weigh your options. Consider consulting with a top Massachusetts agent for expert insights on how soon, and for how much, your property might sell on the market. Whatever you decide, HomeLight would be happy to help with your real estate needs!

Writer Garrett Callahan contributed to this story.

Header Image Source: (Pascal Bernardon / Unsplash)