We Buy Houses Syracuse: Top 4 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.
Do you need to sell your Syracuse home but can’t wait for the months it would take to sell on the real estate market? You might want to consider selling your property for cash to a We Buy Houses company. These companies will make all-cash offers on your home, regardless of conditions, and can often complete the transaction in just a few days.
A cash sale can be an attractive option for homeowners who need to sell fast. Whether you’re dealing with an urgent financial crunch, an inherited property, or simply want to avoid the hassle of the real estate market, cash-for-homes companies can be a great alternative when time is of the essence.
This guide will explore the pros and cons of selling to a cash buyer so you can make an informed decision. We will break down how the process works and provide you with some other options if you need to sell your home quickly.
Sell Your House Fast in Syracuse 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 Syracuse.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Syracuse area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Syracuse
Selling your Syracuse home for cash isn’t complicated, but there are a few steps to the process that you need to follow. Here’s a brief look at how it works:
1. Contact the company: Find a local We Buy Houses company. Most will have an online form you can fill out and will often respond in minutes.
2. Provide property details: Share information about your property, including its condition, location, and any necessary repairs it might need. Don’t worry about the condition—the company will usually make an offer regardless.
3. Schedule a home visit: Set up a convenient time for the company’s representative to visit your home and assess its value.
4. Receive a cash offer: The company will present you with a no-obligation cash offer after evaluating your property.
5. Accept the offer: If you agree with the offer, you can accept it and proceed with the sale.
6. Close the sale: Finalize the paperwork and close the sale, usually within a few days to a week, and you will receive your cash shortly after.
Popular We Buy Houses for Cash companies in Syracuse
If the process of selling to a house-buying company in Syracuse 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’ Craftsman or Ranch style. By selling to one of these companies, you should be able to sell your Syracuse home in as little as a week or two.
SmartSeller
Smartest Seller offers a versatile solution for homeowners looking to sell their properties fast and for cash. The company caters to a wide range of needs, be it a quick sale, foreclosure avoidance, or simply needing to sell a home that needs extensive repairs.
Locations: Syracuse, and surrounding areas
Closing costs: Sellers pay no closing costs; SmartestSeller covers them.
SmartestSeller has received praise for their quick and efficient service, with homeowners appreciating the rapid sale of their properties. Clients have highlighted the company’s ability to provide great offers, enabling a smooth and satisfying selling experience. They have a Google review rating of 5.0.
Website: smartestseller.com/sell-my-house-fast-new-york-we-buy-houses-in-new-york/
Phone number: 855-939-1166
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Syracuse (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 Syracuse.
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 Syracuse
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
Prestige Home Buyers
Prestige Home Buyers has established itself as a leading cash-buying team in Syracuse, with efficient home-buying services across Westchester County, Nassau County, Suffolk County, Queens, Brooklyn, and surrounding New York areas.
Locations: Syracuse and surrounding areas
Closing costs: Sellers pay no closing costs; Prestige Home Buyers cover them.
Prestige Home Buyers is highly praised for offering friendly, professional, and respectful service, ensuring a smooth and hassle-free house-selling experience. They have a Google review rating of 5.0.
Website: prestigehomebuyers.co/we-buy-houses-syracuse-ny/
Phone number: 631-239-3818
We Buy Houses, Syracuse
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 Syracuse
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 for WeBuyHouses.com speak to their professionalism and understandable procedure.
Website: webuyhouses.com/NY/Syracuse/
Phone number: 877-932-8946
Why sell your Syracuse house for cash?
Is selling your Syracuse home for cash the right decision for you? Customers of We Buy Houses companies will typically cite needing a quick and seamless sale as the primary reason they chose to work with cash buyers.
In Syracuse, it typically takes around 83 days to sell a home on the market using an agent. That includes an average of 36 days on the market plus the typical 47 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 Syracuse, 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.
Here are some common situations where you might want to sell your Syracuse home for cash:
- Job relocation: You need to relocate for a new job and can’t afford to wait for a traditional sale.
- Divorce: You want to expedite the asset division process during a divorce.
- Inherited property: You’ve inherited a home and prefer to sell it rather than manage repairs or updates.
- Downsizing: You’re downsizing to a smaller home and can’t wait.
- Significant repairs: Your home needs major repairs that you can’t afford or manage.
- Avoiding open houses: You want to skip the hassle of hosting multiple open houses and showings.
- Foundation issues: Your property has serious foundation problems that deter traditional buyers.
- Facing foreclosure: You’re at risk of foreclosure and need to sell quickly to settle your debts.
- Tenant complications: You own a rental with difficult tenants and want to sell without the hassle.
- Selling from out of state: You live out of state and want a fast, hassle-free sale without traveling back and forth to coordinate the transaction.
Pros and cons of house-buying companies in Syracuse
There are ups and downs to selling your Syracuse home for cash. Here are some of the main benefits to keep in mind:
Pros
- Speedy sale: These companies can close the deal in as little as a week, helping you move on quickly.
- No repairs needed: Sell your home as-is, without the hassle or cost of making repairs.
- Simple process: The process is straightforward, with minimal paperwork and no need for staging or showings.
- Certainty: You receive a firm cash offer with no contingencies, reducing the risk of the sale falling through.
However, there are also some downsides to consider. The most significant is that house-buying companies will offer you below market value compared to selling through a real estate agent. Here are the main cons to be aware of:
Cons
- Lower offers: Expect offers to be below market value, which means you’ll receive less money than selling through a traditional route.
- Scams: There’s a risk of encountering scams or unscrupulous buyers, so it’s essential to vet companies carefully.
- Limited negotiation: Offers are typically take-it-or-leave-it, leaving little room for negotiation.
- Missed opportunities: You might miss out on the higher profits that could be achieved through a traditional sale with a real estate agent.
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
Not all We Buy Houses companies are legitimate, unfortunately. While it’s unlikely, however, that you will run into a less-than-reputable company, here are some good tips to keep in mind to avoid getting scammed:
- Check reviews: Look for online reviews and ratings to see what other sellers have experienced.
- Read testimonials: Visit third-party websites like the Better Business Bureau for testimonials from previous clients.
- Research the market: Investigate the company’s presence and performance in the Syracuse real estate market.
- Verify credentials: Ensure the company is legitimate by checking for proper licensing and accreditation.
- Read the agreement: Carefully read the buying agreement before signing to understand all terms and conditions.
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 Syracuse home quickly
iBuyers
iBuyers, or instant buyers, use automated valuation models (AVMs) to offer a fast, mostly online home sale experience. Companies like Opendoor and Offerpad provide all-cash offers, often closer to market value, and can close in a few days to two weeks. However, they typically charge service fees of 5%-6%. Learn more about the iBuyer process.
Listing with an agent
While it may seem counterintuitive in a story about quick home sales, listing with a top real estate agent can still be a fast option in a seller-friendly market. A strategic price and superb marketing can lead to a swift sale. A top agent can also provide a comparative market analysis (CMA), often free, to help determine your home’s value and appropriate listing price. If you’re interested, HomeLight can connect you with a top-performing agent in your area.
FAQs on Syracuse house-buying companies
By and large, most We Buy Houses for Cash companies in Syracuse 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 Syracuse 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 Syracuse Craftsman could sell for $145,000 after repairs, but it will need $30,000 of work to get there.
($145,000 x .70) – $30,000 = $71,500
In this example, a Syracuse We Buy Houses company might offer you around $71,500 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 Syracuse 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.
1. Research and vet the house-buying companies that serve your Syracuse 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. Weigh 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 Syracuse vs. top Syracuse 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 Syracuse | Sell with a top Realtor in Syracuse |
| Selling timeline | 7 to 30 days | 83 days average; 36 to attract an offer, 47 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 | 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 Syracuse is worth about $145,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $170,000.
| Sell to a We Buy Houses for Cash company in Syracuse | Sell with a top Realtor in Syracuse | |
| Estimated sale price | ($170,000 x .70) – $25,000 = $94,000 | $145,000 |
| Market preparations | 0 | $1,450 (1% of sale price) |
| Agent commissions | 0 | $8,410 (5.8% of sale price) |
| Closing costs | 0 | $2,175 (1.5%) |
| Estimated take-home for seller | $94,000 | $132,965 |
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
- Quick sale: Selling to a house-buying company can expedite the process, often closing in as little as a week.
- No repairs needed: These companies buy homes as-is, saving you the hassle and cost of repairs.
- Less profit: Expect to receive below market value for your home compared to traditional sales.
- Simple process: The sale process is straightforward with minimal paperwork and no need for showings.
- Varying integrity: The level of service can vary, so vet companies carefully before committing.
- Know your home’s worth: Always know 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 Syracuse agent.
Header Image Source: (debramillet/ Depositphotos)
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