We Buy Houses Roanoke, VA: 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.
Selling your home in Roanoke, VA, can be overwhelming when you’re on a tight deadline. Fortunately, We Buy Houses companies in Roanoke offer a solution. These companies pay cash for homes, regardless of the condition, often in a matter of days.
A cash sale is ideal when time is a factor, whether it’s a job relocation, financial strain, or an inherited property.
In this post, we’ll discuss the pros and cons of working with a We Buy Houses company in Roanoke, explain how the process works, and provide some alternatives worth considering.
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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 Roanoke area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Roanoke
If you want to sell your Roanoke home quickly, working with a house-buying company is a good solution. These companies specialize in making all-cash offers on homes as-is, which means you can skip the repairs and move on faster. Here’s an overview of the basic steps involved in selling to a cash-for-homes company.
- Contact the company: Contact a local house-buying company and provide details about your home.
- Schedule a home visit: The company will arrange a time to visit and assess your property’s condition.
- Receive an offer: After reviewing your home, the company will present you with a no-obligation, all-cash offer.
- Accept the offer: If you agree, the sale will go through without negotiations.
- Complete paperwork: The company will guide you through signing the necessary documents to finalize the sale.
- Close the sale: Typically, closing can happen within days, and you’ll receive your cash payment shortly after.
Popular We Buy Houses for Cash companies in Roanoke
If the process of selling to a house-buying company in Roanoke 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’ colonial revival or craftsman bungalow. By selling to one of these companies, you should be able to sell your Roanoke home in as little as a week or two.
Journey Home Buyers
Journey Home Buyers is a real estate investment company that purchases homes directly from homeowners who want to sell quickly and without the hassle of traditional real estate processes.
Locations: Across Virginia, including Roanoke.
Closing costs: Sellers pay no closing costs; Journey Home Buyers covers them.
Journey Home Buyers has been BBB accredited since 2022 and holds an A+ rating. Journey Home Buyers has a 4.9-star rating on Google.
Website: journeyhomebuyers.com
Phone number: 540-296-2607
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Roanoke (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 Roanoke.
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 Roanoke
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
Quick Fix Real Estate
Quick Fix Real Estate specializes in helping homeowners sell their properties quickly by providing cash offers and flexible closing options. They aim to offer a stress-free experience for sellers facing various situations, such as financial distress, unwanted inherited properties, or the need to relocate.
Locations: Charlotte, NC, and Roanoke, VA.
Closing costs: Sellers pay no closing costs; Quick Fix Real Estate covers them.
Quick Fix Real Estate has been BBB accredited since 2021 and holds an A+ rating. Quick Fix Real Estate has a 4.4-star rating on Google.
Website: quickfixrealestate.com
Phone number: 540-324-4346
Wanderlust Home Buyers
Wanderlust Home Buyers is a real estate solutions company based in Roanoke, Virginia. It specializes in helping homeowners sell their properties quickly and offers cash solutions for those in challenging situations, such as foreclosure, probate, or managing burdensome properties.
Locations: Roanoke and surrounding areas.
Closing costs: Sellers pay no closing costs; Wanderlust Home Buyers covers them.
Wanderlust Home Buyers has a 5.0-star rating on Google.
Website: wanderlusthomebuyers.com
Phone number: 540-427-7938
Damon Buys Houses
Damon Buys Houses is a Virginia-based real estate company that provides cash offers to homeowners looking to sell quickly. They aim to simplify the selling process, covering all costs and allowing sellers to choose their closing date.
Locations: Virginia, including Roanoke.
Closing costs: Sellers pay no closing costs; Damon Buys Houses covers them.
Damon Buys Houses has a 4.3-star rating on Google.
Website: damonbuyshouses.com
Phone number: 540-349-6446
Why sell your Roanoke house for cash?
Selling your home for cash isn’t for everyone, but when you need to sell your Roanoke property quickly, a We Buy Houses company in Roanoke is a good alternative to the traditional market.
In Roanoke, it typically takes around 62 days to sell a home on the market using an agent. That includes an average of 18 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 Roanoke, 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.
Below are some common scenarios where selling for cash might make sense.
- Job relocation: If you need to move fast for a new job relocation, a cash sale can help you avoid delays and close quickly.
- Divorce: Selling your home for cash can simplify the process and help both parties move forward without lengthy delays after a divorce.
- Inherited property: If you’ve inherited a house and don’t want the responsibility, a cash sale allows you to sell it as-is without repairs or updates.
- Downsizing: If you’re moving to a smaller home, selling for cash lets you avoid the hassle of preparing the property for sale while you’re downsizing.
- Costly repairs: When your home needs expensive repairs, selling for cash lets you skip the burden of fixing foundation or structural issues.
- Foreclosure threat: If you’re facing foreclosure, selling quickly for cash can help you settle debts and avoid damage to your credit.
- Problem tenants: If managing tenants has become overwhelming, a cash buyer can purchase your rental property, even with renters still living there, solving your tenant issues.
- Selling from out of state: If you own a property in Roanoke but live elsewhere, a cash sale can save you the hassle of managing a remote sale.
Pros and cons of house-buying companies in Roanoke
If you’re considering selling your Roanoke home to a house-buying company, it’s important to weigh the benefits and drawbacks. These companies offer convenience and speed, but you may need to sacrifice some value to achieve a fast, hassle-free sale. Let’s take a closer look.
A major advantage of working with a house-buying company is the speed of the sale and the ability to sell your home in as-is condition without making repairs or preparations. Here are some of the key benefits to consider.
- Fast sale: You can close in as little as a week, allowing you to move on with your life quickly.
- No repairs: You won’t need to spend time or money fixing up your home before selling.
- No contingencies: Cash buyers typically don’t require contingencies like financing or inspections, which can speed up the process.
- Less stress: Skip open houses, showings, and negotiations, allowing you to avoid the stress of traditional sales.
The most significant drawback is that a house-buying company will likely offer you below-market value for your home, compared to what you might get by selling with an agent. Here are other potential downsides.
- Lower offer: Expect an offer lower than what your home could sell for on the open market with an agent.
- Scams: Some companies may engage in scams, so you need to be cautious and vet the buyer carefully.
- Limited options: These companies usually present take-it-or-leave-it offers with no room for negotiation.
- Less marketing exposure: Selling off-market means fewer potential buyers, which could reduce your chances of a higher offer.
In the next section, we’ll explore how to vet cash buyers and ensure you know your home’s worth before accepting an offer. This step is crucial to avoid lowball offers and scams.
Curious What Your Home Is Worth?
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Vet cash buyers and know your home’s worth
Before committing to a cash offer from a We Buy Houses for Cash company in Virginia, it’s important to vet the buyer and know your home’s worth. Here are a few tips:
- Research the company: The level of integrity and service can vary. Look into the company’s reputation by checking reviews and reading testimonials.
- Evaluate their market presence: Check how long the company has been operating and if they have a strong track record in your area.
- Read the buying agreement carefully: Before you sign anything, thoroughly review the terms of the offer to ensure you understand the details.
- Know your home’s worth: Research your home’s market value before accepting an offer to ensure you’re getting a fair price.
Other options to sell your Roanoke home quickly
Here’s a more concise version of the “Other options to sell your home quickly” section:
iBuyers
iBuyers, like Opendoor and Offerpad, use automated valuation models (AVMs) to make nearly instant all-cash offers, often for homes in good condition. The iBuyer process is mostly online and quick—typically from offer to close within a few days to two weeks. While iBuyers provide offers closer to market value, they often charge service fees around 5%-6%. This option suits sellers with homes in good condition in regions with homogeneous housing.
Listing with an agent
Even if speed is a priority, listing with an agent can still be a fast option, particularly in a seller-friendly market. A top agent can price and market your home effectively, often resulting in a quick sale. Consulting an agent also gives you access to a comparative market analysis (CMA), which is often free and helps estimate your home’s market value and potential sale speed. If you ultimately decide to work with a cash buyer, knowing your home’s value can guide your decision. If you’re interested, HomeLight can connect you with a top-performing agent in your area.
FAQs on Roanoke house-buying companies
By and large, most We Buy Houses for Cash companies in Roanoke 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 Roanoke 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 Roanoke colonial revival could sell for $360,000 after repairs, but it will need $30,000 of work to get there.
($360,000 x .70) – $30,000 = $222,000
In this example, a Roanoke 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 Roanoke 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 Roanoke 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 Roanoke vs. top Roanoke 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 Roanoke | Sell with a top Realtor in Roanoke |
| Selling timeline | 7 to 30 days | 62 days average; 18 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 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 Roanoke is 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 Roanoke | Sell with a top Realtor in Roanoke | |
| 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 | $10,800 (3% of sale price) |
| Closing costs | 0 | $5,400 (1.5%) |
| Estimated take-home for seller | $244,500 | $340,200 |
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 closing: Cash-for-homes companies can close in as little as a week, helping you sell your home quickly.
- No repairs: You can sell your home as-is, avoiding the need to make any repairs or updates.
- Lower offers: Expect offers to be below market value, as cash buyers factor in their costs and the convenience they provide.
- Limited negotiation: These offers are often take-it-or-leave-it, with little room for negotiation.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
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 Roanoke agent.
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