We Buy Houses Monroe: Top 5 Companies
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Joseph Gordon EditorJoseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
If you need to sell your Monroe home quickly, consider a house-buying company that makes all-cash offers. These companies specialize in purchasing homes, often those that need repairs, allowing you to sidestep costly improvements and move forward fast.
A cash sale can be especially appealing if you’re facing an urgent or unexpected situation. Whether you’re relocating, dealing with financial difficulties, or simply don’t have the time or resources to handle repairs, selling to a cash-for-homes company could be a practical solution.
In this post, we’ll help you explore the pros and cons of working with We Buy Houses companies in Monroe, how it works, and what you can expect so you can determine whether a cash sale is the best option for your situation.
Sell Your House Fast in Monroe 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 Monroe.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Monroe area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Monroe
Selling your Monroe home to a house-buying company can be a quick and simple way to avoid the hassles of a traditional sale. Below are the basic steps you can expect:
- Reach out to the company: Contact a house-buying company in Monroe and share some details about your home and why you’re looking to sell.
- Schedule an assessment: The company will arrange a time to visit your home, assess its condition, and gather the necessary information.
- Get a cash offer: Once the assessment is complete, you’ll receive a straightforward cash offer, typically within 24-48 hours.
- Review the offer: Take time to look over the offer and terms, making sure it aligns with your expectations.
- Agree to the sale: If you’re satisfied with the offer, sign the paperwork to accept and finalize the sale.
- Close and collect your payment: The company will arrange a quick closing, often in a week or less, and you’ll receive your funds promptly.
Popular We Buy Houses for Cash companies in Monroe
If the process of selling to a house-buying company in Monroe 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 or your parents’ ranch-style home or colonial revival. By selling to one of these companies, you should be able to sell your Monroe home in as little as a week or two.
NELA Home Buyers
NELA Homebuyers is a local real estate solutions company that focuses on helping homeowners in Louisiana sell their properties quickly and efficiently. They offer a hassle-free process, providing cash offers for homes in any condition and closing on a timeline that suits the seller.
Locations: Louisiana, including Monroe.
Closing costs: Sellers pay no closing costs; NELA Home Buyers cover them.
NELA Homebuyers doesn’t have reviews on Google yet, but their website highlights positive client experiences.
Website: monroehomebuyers.com
Phone number: 318-450-3497
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Monroe (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 Monroe.
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 Monroe
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 hundreds of 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
New Horizon Home Buyers
New Horizon Home Buyers is a family-owned home-buying company that pays cash for as-is houses, land, commercial properties, condos, townhomes, and apartments in any condition. After a tour of the property, closing can occur in as little as seven days.
Locations: Several cities in Tennessee, including Clarksville, plus cities in Alabama, Arkansas, Florida, Georgia, Indiana, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, and Texas, including Monroe.
Closing costs: Sellers pay no closing costs; New Horizon Home Buyers cover them.
New Horizon Home Buyers has been BBB-accredited since 2020 and holds an A+ rating. On Google, reviewers give the company an average of 4.9 stars. Reviews of New Horizon Home Buyers appreciate the ease and professionalism that the team brings to the home-selling process.
Website: newhorizonhomebuyers.com
Phone number: 318-231-1999
New Again Houses
New Again Houses was founded in 2008. New Again Houses has also developed proprietary software to assist their national network of franchise owners in confidently flipping houses in their local markets.
Locations: New Again Houses serves homeowners in various locations, including Monroe.
Closing costs: Sellers pay no closing costs; New Again Houses covers them.
New Again Houses has an A+ rating with the Better Business Bureau (BBB). Customers have praised the company’s professionalism, patience, and helpfulness throughout the process. Other customers have mentioned the company’s compassion, care, and ease of finding a home through their service.
Website: newagainhouses.com
Phone number: 423-389-9110
We Buy Houses
WeBuyHouses.com was founded in 1997 and buys houses in 200 markets and 30 states in any condition. According to their website, they have been trusted by 1 million homeowners and can present a cash offer even if the homeowner is behind on their mortgage or facing foreclosure.
Locations: Nationwide, including Monroe.
Closing costs: Sellers pay no closing costs; WeBuyHouses.com covers them.
WeBuyHouses.com has been BBB-accredited since August 2020 and has an A+ rating. Customer reviews speak to its professionalism and understandable procedure.
Website: webuyhouses.com
Phone number: 877-932-8946
Why sell your Monroe house for cash?
Why sell your Monroe home for cash? Customers of We Buy Houses companies are typically turning to these companies because of the speed in which they can sell their property, combined with the overall convenience—particularly when compared to selling on the traditional real estate market.
In Monroe, it typically takes around 97 days to sell a home on the market using an agent. That includes an average of 54 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 ten days promised by many house-buying companies in Monroe, 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.
If you’re a Monroe homeowner facing a time-sensitive situation, selling your house for cash might offer a quick, convenient solution. Whether you need to sell fast to move on with your life or just want to avoid the hassle of repairs and open houses, working with a house-buying company could provide the flexibility you need.
Here are some common scenarios where a cash sale might be the right fit:
- Job relocation: You’ve received a job offer that requires you to move quickly, and there’s no time to deal with listing your home.
- Divorce: Navigating a divorce is tough, and selling your home for cash can help you and your spouse move on faster.
- Inherited property: You’ve inherited a property you don’t want to keep and prefer a simple sale to divide the proceeds.
- Downsizing: You’re ready to downsize and want to sell quickly without the hassle of prepping and staging your home.
- Repairs needed: Your house needs significant repairs, and you lack the funds or time to address the issues before selling.
- Open houses: You want to avoid the stress and intrusion of multiple open houses and showings during the traditional sales process.
- Foundation issues: Your home has foundation problems that could turn off buyers and delay a traditional sale.
- Foreclosure: You’re facing foreclosure and need to sell fast to settle debts and protect your credit history.
- Problem tenants: You own a rental property with difficult tenants and would rather sell it off than continue managing the situation.
- Selling from out of state: You live far from the property and want a convenient, hands-off way to sell without being physically present.
Pros and cons of house-buying companies in Monroe
When selling your Monroe home to a house-buying company, there are several advantages and disadvantages. Let’s take a closer look at the pros and cons to help you decide whether a cash sale is right for you.
Pros:
A house-buying company in Monroe can offer significant benefits, particularly speed and convenience. These companies purchase homes as-is, meaning you don’t need to make any repairs or worry about preparing your home for sale. Here are a few more key advantages:
- Fast sale: Most cash buyers can close in as little as a week, allowing you to move quickly and avoid delays.
- No repairs needed: House-buying companies purchase homes as-is, so you won’t need to invest time or money in repairs.
- No showings or open houses: You can avoid the stress of hosting open houses or multiple showings to prospective buyers.
- No contingencies: These companies typically buy homes without contingencies, ensuring the sale process is simple and direct.
Cons:
While there are benefits to selling your Monroe house for cash, it’s also important to consider the drawbacks. The biggest downside is that you’ll likely receive below market value for your home compared to selling with a real estate agent. Here are some additional cons:
- Lower offer: Expect a house-buying company to offer less than you’d receive from a traditional market sale.
- Potential for scams: Some cash buyers may be fraudulent, so it’s important to be cautious and aware of scams.
- Limited negotiation: House-buying companies typically present take-it-or-leave-it offers, leaving little room for price negotiation.
- Missed opportunity for higher profit: Selling through a real estate agent could allow you to reach more buyers and secure a higher offer.
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 working with a house-buying company in Monroe, the integrity and service you experience can vary greatly. Here are some tips to help you vet potential cash buyers and make informed decisions:
- Check reviews: Look at online reviews and testimonials from past clients to gauge the company’s reputation and service quality.
- Research market presence: Investigate the company’s history, performance, and presence in the Monroe market to ensure they’re legitimate and reliable.
- Read testimonials: Pay attention to customer feedback about their experiences to determine how well the company handles transactions.
- Carefully review the agreement: Before committing to any cash offer, thoroughly read the buying agreement and understand all terms 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 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 Monroe home quickly
iBuyers:
iBuyers use automated valuation models (AVMs) to offer near-instant home estimates, resulting in a fast, mostly online process. They typically offer all-cash for homes in good condition, with closing times from a few days to two weeks. Keep in mind, companies like Opendoor and Offerpad charge service fees around 5%-6% and prefer properties in regions with uniform housing.
Listing with an agent:
Even if you’re in a hurry, selling with an agent can still be fast in a hot market. Agents provide a comparative market analysis (CMA), often for free, to help you price your home for a quick sale. If interested, HomeLight can connect you with a top-performing real estate agent for expert guidance.
FAQs on Monroe house-buying companies
By and large, most We Buy Houses for Cash companies in Monroe 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 Monroe 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 Monroe ranch-style home could sell for $148,000 after repairs, but it will need $30,000 of work to get there.
($148,000 x .70) – $30,000 = $73,600
In this example, a Monroe We Buy Houses company might offer you around $73,600 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 Monroe We Buy Houses for Cash company, you will likely be coming to grips with a double-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 any hidden program fees might impact your bottom line is always a good idea.
- Research and vet the house-buying companies that serve your Monroe 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 Monroe vs. top Monroe 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 Monroe | Sell with a top Realtor in Monroe |
| Selling timeline | 7 to 30 days | 97 days average; 54 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 the 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 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 Monroe is worth about $148,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $173,000.
| Sell to a We Buy Houses for Cash company in Monroe | Sell with a top Realtor in Monroe | |
| Estimated sale price | ($173,000 x .70) – $25,000 = $96,100 | $148,000 |
| Market preparations | 0 | $1,480 (1% of sale price) |
| Agent commissions | 0 | $4,440 (3% of sale price) |
| Closing costs | 0 | $2,220 (1.5%) |
| Estimated take-home for seller | $96,100 | $139,860 |
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
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
- Fast sale: House-buying companies can close quickly, often within a week, providing immediate cash for your home.
- No repairs required: These companies buy homes as-is, saving you from spending on repairs or upgrades.
- No showings or open houses: You can skip the hassle of staging and multiple home showings.
- Lower offers: Expect offers below market value, as house-buying companies prioritize speed and convenience over price.
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 Monroe agent.
Header Image Source: (Ricky Beron / Unsplash)
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.
