6 Top We Buy Houses for Cash Companies in Tennessee
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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.
Preparing your Tennessee home to sell can feel overwhelming, especially if you’re facing a financial deadline or an imminent life change that requires a fast sale. If your house needs significant repairs, it can be even more daunting. We Buy Houses companies in Tennessee present an enticing proposition for homeowners like you. These companies make all-cash offers for homes, even properties that need work.
Why consider this route? For many, it boils down to speed and simplicity. A cash sale empowers sellers who might not have the time, expertise, or resources for repairs to receive their funds swiftly and move on.
In this guide, we’ll explain the process and the pros and cons of such companies in Tennessee, offering insights to help you determine the best path for your unique situation.
Sell Your House Fast in Tennessee With an All-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 Tennessee.
Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of Tennessee area “We Buy Houses” companies should not be considered endorsements.
Working with house-buying companies in Tennessee
The process of working with a Tennessee We Buy Houses company can be surprisingly streamlined. If you’re considering this avenue, here’s a simple breakdown of what to expect:
- Reach out for a quote: Initiate contact with a reputable house-buying company. Provide the necessary details about your property to get an initial cash offer. This is typically a no-obligation, free service. Be certain to vet the company first.
- Property assessment: The company usually sends a representative to inspect your home. This is to gauge its condition and verify the details you provided.
- Receive a formal offer: Based on the assessment, the company will present you with a formal cash offer.
- Decide on the offer: Take your time. Evaluate the offer against your needs and decide if you’d like to accept it. It’s wise to get multiple offers from different cash-offer companies and compare them.
- Close the deal: If you accept the offer, you’ll work with the company to finalize the paperwork. Closing can happen as quickly as a week, or on a schedule that suits you. You can now move forward with your plans, free from the burden of a lingering property sale.
Popular We Buy Houses for Cash companies in Tennessee
If these benefits of selling to a house-buying company in Tennessee 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 parents’ American Farmhouse or your family’s Gable House. By selling to one of these companies, you should be able to sell your Tennessee home in as little as a week or two.
TN HomeBuyers
TN HomeBuyers, established in 2002 by co-founders Tommy Owen and Dan Lain, is a premier house-buying company in Tennessee. With roots tracing back to 1973, the company provides an easy solution for homeowners looking to sell their property quickly. They directly buy houses from sellers, offering cash offers and flexible closing dates. TN HomeBuyers has served thousands of customers in Middle Tennessee. The company specializes in buying various types of residential real estate, including single-family houses, condos, townhouses, and multifamily houses.
Locations: All over middle Tennessee.
Closing costs: Sellers pay no closing costs; TN HomeBuyers structures an offer so there are no out-of-pocket expenses.
TN HomeBuyers has been BBB accredited since 2004 and holds an A+ rating and an average of 4.79 out of 5 stars. On Google, clients rate TN HomeBuyers with great reviews and an average of 4.5 stars. The team receives commendation for their professionalism. The process is described as worry-free and seamless transactions that accommodate individual needs. Representatives from TN HomeBuyers stand out for their easy communication, organization, and honesty.
Website: 299cash.com
Phone number: 615-299-5525
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Tennessee (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 Tennessee.
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 Tennessee.
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
East Tennessee Home Buyers
East Tennessee Home Buyers LLC, with nearly two decades of real estate experience, offers a stress-free home-selling experience to residents of East Tennessee. They specialize in providing quick solutions for homeowners facing a variety of challenges, such as foreclosure, probate, repairs, or property division. As actual buyers, not agents, they purchase houses and multi-family properties in Knoxville, Maryville, and Oak Ridge. East Tennessee Home Buyers prioritizes hassle-free transactions and effective problem-solving, placing fairness and customer satisfaction at the forefront of their process.
Locations: All over East Tennessee.
Closing costs: Sellers pay no closing costs; East Tennessee Home Buyers structures an offer so there are no out-of-pocket expenses.
East Tennessee Home Buyers has been accredited by the BBB since 2021 and holds an A+ rating. Google reviewers give the company a 5-star rating. Customers express appreciation for the seamless and efficient selling process. From divorce-related sales to needing to move quickly due to health issues, clients found relief in the hassle-free transactions. The company’s professionalism, fair offers, and willingness to work around clients’ needs are consistently praised, making them a popular choice for those seeking a smooth home selling experience.
Website: easttnhomebuyers.com
Phone number: 865-935-8680
New Horizon Home Buyers
New Horizon Home Buyers is a family-owned home-buying company offering a faster and easier approach to selling houses. With a focus on trust, excellent customer service, and fair prices, they aim to exceed expectations while ensuring a seamless selling experience. They donate 5% of their profits to local organizations supporting individuals experiencing homelessness. The company’s passion for fixing homes is evident in its strategic approach to renovations, keeping costs down while maximizing offers for sellers.
Locations: All over the United States, including Tennessee.
Closing costs: Sellers pay no closing costs; New Horizon Home Buyers structures an offer so there are no out-of-pocket expenses.
New Horizon Home Buyers has been BBB accredited since 2004 and holds an A+ rating. On Google, clients give the company an average of 4.9 stars. Clients of New Horizon Home Buyers appreciate the ease and professionalism that the team brings to the home-selling process. They highlight the fair offers and smooth transactions, even when dealing with inherited properties that hold sentimental value. The company’s local presence and no-hassle approach stand out, making the process straightforward and efficient.
Website: newhorizonhomebuyers.com
Phone number: 423-509-8393
Integrity House Buyers
Integrity House Buyers, based in Clarksville, offers an alternative to traditional property selling methods. They cater to homeowners seeking solutions for various situations, including foreclosure or burdensome properties. As a family-owned real estate solutions company, they specialize in helping those who can’t or don’t want to go through traditional routes. They buy houses directly, paying cash and closing quickly without fees or commissions. Regardless of the property’s condition or location, Integrity House Buyers purchases homes as-is.
Locations: All throughout Middle Tennessee.
Closing costs: Sellers pay no closing costs; Integrity House Buyers structures an offer so there are no out-of-pocket expenses.
Integrity House Buyers has been BBB accredited since 2022 and holds an A+ rating. On Google, they hold a 4.9-star rating and garner praise for their exceptional service. Notable experiences include upfront communication, genuine support, and going above and beyond to assist families. Clients recommend them for their strong moral values, veteran ownership, and dedication to ensuring a positive home-selling experience.
Website: buyerswithintegrity.com
Phone number: 931-213-6951
My Tennessee Home Solution LLC
My Tennessee Home Solution is a team of army veterans offering real estate solutions, established in 2020. Their team prioritizes customer service, communicating consistently throughout the process. They emphasize trust and professionalism in an industry with potential scammers. Specializing in as-is property purchases, they aim to simplify selling homes, avoiding renovations and buyer searches. My Tennessee Home Solution provides cash offers, potentially closing deals within 14 days.
Locations: The greater Nashville area and Middle Tennessee region.
Closing costs: Sellers pay no closing costs; My Tennessee Home Solution LLC covers them.
My Tennessee Home Solution is a BBB-accredited company with an A rating. Reviews on Google commend My Tennessee Home Solution for their professionalism, honesty, and responsiveness. Reviews highlight the team’s integrity and adherence to their promises, with no last-minute changes or deceptive tactics. Their assistance extends beyond the sale, with a pet-friendly hotel arrangement and consistent check-ins. They hold a 5.0-star Google rating from more than 100 reviews.
Website: mytennesseehomesolution.com
Phone number: 615-933-5431
Why sell your Tennessee house for cash?
There are plenty of valid reasons a Tennessee 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 Tennessee, it typically takes around 85 days to sell a home on the market using an agent. That includes an average of 42 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 Tennessee, 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.
As the landscape of real estate evolves, an increasing number of Tennessee homeowners are considering the allure of cash offers from house-buying companies. So, what specific situations might make you think about opting for this alternative route?
- Immediate life changes: Whether it’s a sudden job relocation, medical emergency, divorce, or another urgent life event, a quick cash sale can offer relief in rapidly changing circumstances.
- Property wear and tear: Homes in Tennessee can suffer from specific environmental damages like tornado aftermath or humidity-induced wear. Selling to a cash buyer alleviates the need for extensive repairs.
- Financial limitations: Not every homeowner has the means or the will to fund significant home improvements. A cash-for-home sale can bypass this hurdle.
- Stress aversion: Bypass the tension of home staging, coordinating viewings, and extensive negotiations with potential buyers.
- Desire for discretion: If you value privacy, selling off-market to a cash-buying company can keep the sale discreet and away from public view.
- Foreclosure looming: For those on the cusp of foreclosure, a quick sale can be a lifeline, allowing you to settle debts and protect your credit.
- Inheritance complexities: Dealing with an inherited property can be emotionally and logistically taxing. Cash buyers can simplify the process.
- Landlord challenges: If property management is becoming a burden, or you have difficult tenants, a cash sale can be a direct exit strategy.
- Aging homeowner transitions: As one grows older, the needs change. Moving in with family or to a care facility may necessitate a hassle-free sale.
- Out-of-state living: Homeowners residing outside Tennessee might find the conventional selling process tedious. Cash buyers offer a seamless solution.
If any of these scenarios resonate with you, reaching out for a cash offer might be a suitable option. But there are still some key pros and cons to consider.
Pros and cons of house-buying companies in Tennessee
The decision to sell to a house-buying company in Tennessee comes with its unique set of advantages and disadvantages. Recognizing these can help you navigate your home-selling journey with clarity.
Pros
Among the most enticing benefits of working with a house-buying company in Tennessee is the sheer speed of the transaction and the promise of a no-fuss purchase, regardless of your home’s current condition. Here’s a look at the top advantages:
- Quick sales: House-buying companies can close deals in as little as a week, allowing you to move on swiftly.
- No repairs needed: These buyers will take your home as-is, freeing you from the burden of repairs or upgrades.
- Simplified transactions: With fewer contingencies and no need for showings or staging, the process is streamlined.
- Avoiding traditional fees: Without agents or lenders in the mix, you can bypass typical costs and other associated home-selling fees and expenses.
Cons
The primary trade-off with We Buy Houses companies is the likelihood of receiving an offer below your home’s market value, especially compared to a traditional sale facilitated by a seasoned Realtor. Here are the main drawbacks:
- Lower offers: House-buying companies need to turn a profit, so they’ll typically offer below market value. For more offer details, see the FAQ section below.
- Typically no negotiating: The offered price is usually determined by a formula built into the company’s purchase model, giving you little to no room to negotiate a better deal. You can see an example formula in the FAQ section below.
- Less competitive bidding: Unlike the traditional market, there’s no opportunity for multiple offers or bidding wars.
- Risk of pressure or scams: While most cash-offer companies in Tennessee are established and trustworthy, there is a risk of being targeted by a scam buyer. Or you may wind up with a buyer who uses pressure tactics to take advantage of your urgent situation. It’s important to thoroughly vet each business you’re considering.
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 for Cash companies are created equal. The integrity and service you receive can differ greatly and hinge on the character of the individual or group behind the offer. Before diving in, it’s crucial for you to vet the company meticulously. Dive into reviews, scour testimonials, and research their standing in the Tennessee market.
Moreover, knowing your home’s value is paramount. So, even if you’re looking for a swift sale, don’t rush the final stage. Review every detail of the buying agreement before appending your signature.
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 Tennessee 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 Tennessee home quickly
iBuyers
iBuyers, short for instant buyers, use automated valuation models to offer rapid, mostly online home sale experiences. Established in the mid-2010s, they make near-market value, all-cash offers primarily for homes in decent shape, completing sales in days to two weeks.
While convenient, iBuyer platforms like Opendoor and Offerpad can have service fees of around 5%-6%. They’re best for Tennessee sellers with standard homes in good condition.
Listing with an agent
While this option may seem counterintuitive in a post about house-buying companies, a high-performing real estate agent can provide a fast home sale, particularly with strategic pricing and effective marketing. Our data shows that the top 5% of agents in Tennessee sell homes for as much as 10% more than the average agent.
A seasoned agent will provide you with a comparative market analysis (CMA) to pinpoint your home’s value, potentially expediting the sale. This analysis can help sellers gauge an apt listing price. Many agents offer CMAs for free and without commitment.
Additionally, some Tennessee agents might have connections to local cash buyers willing to make near-market value offers. Leveraging a professional can help you navigate your home sale path more confidently.
To explore this option, HomeLight can connect you with leading agents in your Tennessee market.
FAQs on Tennessee house-buying companies
By and large, most We Buy Houses for Cash companies in Tennessee 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 Tennessee 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 Tennessee home could sell for $360,000 after repairs, but it’s going to need $30,000 of work to get there.
($360,000 x .70) – $30,000 = $222,000
In this example, a Tennessee 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 Tennessee We Buy Houses for Cash company, you will likely be coming to grips with a two-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 the offer is accepted. On the other side, 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 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 flat-out ask the company if there are any hidden program fees that might impact your bottom line.
- Research and vet the house-buying companies that serve your Tennessee 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 Tennessee vs. top Tennessee 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 Tennessee | Sell with a top Realtor in Tennessee |
| Selling timeline | 7 to 30 days | 85 days average; 42 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 Tennessee is currently worth about $475,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $500,000.
| Sell to a We Buy Houses for Cash company in Tennessee | Sell with a top Realtor in Tennessee | |
| Estimated sale price | ($500,000 x .70) – $25,000 = $325,000 | $475,000 |
| Market preparations | 0 | $4,750 (1% of sale price) |
| Agent commissions | 0 | $14,250 (3%* of sale price) |
| Closing costs | 0 | $7,125 (1.5%) |
| Estimated take-home for seller | $325,000 | $448,875 |
As this example illustrates, financially, it’s usually in your best interest to partner with an experienced real estate agent.
Agent commission changes
*On March 15, 2024, the National Association of Realtors (NAR) announced a landmark lawsuit settlement that will change the way real estate agent commissions are handled in the future. These changes will “decouple” seller and buyer agent compensation. Industry experts predict that this decoupling will likely lower agent fees and give buyers the ability to negotiate commission amounts directly. Learn more.
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
- Cash offers provide speed: We Buy Houses companies in Tennessee can finalize your home sale in days, not weeks or months.
- House condition: These companies typically buy properties as-is, saving you the hassle and cost of repairs or renovations.
- Below market value: Selling to a cash-for-homes company typically means accepting a price below market value.
- Vetting is vital: Always research and vet a cash-buying company’s reputation before moving forward.
- Other options exist: Don’t forget about iBuyers or consulting with a top real estate agent to explore selling routes that might net you more money or suit your circumstances better.
- Home’s worth: Regardless of how you sell, know your property’s value. A comparative market analysis (CMA) can be invaluable in this respect.
In the journey of selling your Tennessee home, gathering multiple offers and carefully considering each one can be the key to a successful, satisfying sale. If you’re thinking of using a Cash-For-Homes company, take the time to weigh your options thoroughly.
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 Tennessee real estate agent.
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