In a promising start to 2024, home sales have surged, marking the first increase since 2022. Of the 7,000+ homes that sold last month, most of the transactions were all-cash. Cash is still king in Ohio’s housing market; It's soo prominent, we wrote an entire article on the matter titled,
"Should you buy a house with cash?".
There's plenty of buyers willing to offer cash, but getting a fair cash deal for your property is not as easy. It may be prudent to shop offers from multiple local and national cash buyers to get a proper fair cash offer. This article will take a look at a few of the most prominent cash buyers purchasing homes in Columbus, Ohio.
Companies that buy houses near you may offer quick payment for your home, but, it may not always be the best offer. While some cash buyers advertise an offer equivalent to 100% of your property’s fair market value, others may offer as little as 50%. We’ve reviewed and ranked 9 home buyers in Ohio delivering excellent service.
Reviews: 9 Companies That Buy Houses for Cash in Ohio.
Since 2005, Sell House Columbus has been buying homes in the Columbus Metro area. They buy Ohio houses for cash, as-is. In addition to covering all closing costs and avoiding commissions, Sell House Columbus can close in as little as 7 days.
For more information about selling a home as-is, check out our article "
Selling a House As-Is"
Easton Buys Houses is a local family-owned business. They buy Ohio houses for cash, as-is. In addition to covering all closing costs and avoiding commissions, Easton Buys Houses has locations near you. A complete list of areas they service is available by clicking here:
Easton Buys Houses | Service Areas
We're huge NewWestern fans. Born on the heels of the 2008 foreclosure crisis, NewWestern has grown into the largest single-family investment marketplace in the nation that serves both home sellers and investors. Unlike most cash buyers, NewWestern does not buy homes. NewWestern offers a marketplace that connects investors with opportunities to purchase off-market homes. They thoroughly vet their community of cash buyers and require substantial earnest deposits to ensure sellers receive offers from buyers that will perform.
Similar to NewWestern, Sundae is a well funded investment marketplace where sellers can receive multiple cash offers for their property. Sundae is positioned to create a transparent environment where the interests of sellers and buyers align in a competitive marketplace.
Their credo pushes back on a "predatory property investor" mentality that's given off-market buyers a bad name. With Sundae, multiple cash buyers compete against one another and protect sellers from solitary buyers interested in paying the lowest possible price.
Where investors compete, homeowners win.
Click here for more information about how Sundae works.
Heels homes is a family-owned business with a focus on helping homeowners find solutions for a myriad of financial problems and life circumstances that may interfere with the traditional home selling process. The team at Heels Homes buys houses for cash, as-is. In addition to covering all closing costs and avoiding commissions, Heels Homes offers fair cash offers in 24 hours.
We Buy Houses Columbus is a real estate investment company with a passion for community. These folks are cash buyers and offer complete information about their home buying process
here.
Ohio Cash Buyers is a family-owned real estate investment company based out of Springboro, Ohio. With 16 years experience, the team at Ohio Cash Buyers purchases property in Columbus, Cinncinatti and Dayton. Like most cash buyers, purchases are made as-is and they cover all closing costs.
Oasis Home Buyers is quickly becoming one of the largest home buyers in Columbus. This is one of the hardest working teams in Columbus, specializing in foreclosures, divorce, hoarder homes and properties with structural damage.
Click here for a no obligation cash offer from Oasis Home Buyers.
Central City Solutions is one of the highest rated locally owned home buyers in Columbus. The team at Central City Solutions buys houses for cash, as-is and can close in as little as 7 days. In addition to covering all closing costs and avoiding commissions, Central City Solutions offers fair cash offers in 24 hours.
Types of Cash Home Buyers
While it may sound like all cash home buyers are identical, there are roughly 3 types of cash home buyers:
Fix and Flip:
“Fix-and-flip” home buyers buy unrenovated and undervalued properties at a substantial discount, make repairs, and turn around and sell them on the open market. Ohio cash buyers interested in flipping homes typically pay 50% of the After Repair Value (ARV) and don’t have any service fees.
iBuyers:
iBuyers use proprietary algorithms to determine a fair cash offer for your house. They're typically looking for properties that don't need extensive renovation and will pay between 70% to 80% of the fair market value.
For more information about iBuyers, be sure to take a look at our article titled "
What is an iBuyer | Complete Guide"
Buy and Hold Cash Buyers:
Cash buyers interested in accumulating a portfolio of rental property will convert distressed property into rental property. They typically look to renovate homes they buy and do not sell the finished product, instead opting to put a tenant in each property and enjoy a steady source of income for years to come. This type of buyer may be willing to pay slightly more then fix and flip investors.
How to Sell to Companies That Buy Houses for Cash?
Visit their website or give them a call. Most cash buyers will collect basic information like the location and condition of your property directly on their website.
Preliminary Cash Offer:
Based on recent sales in neighborhood and the condition of your property, they will typically extend an initial cash offer that will vary between 30% to 70% of your home’s fair market value.
Complete the Home Inspection:
Should you accept the initial offer, most cash buyers will perform an inspection. Based on the findings of the inspection, it's not uncommon for a cash buyer to adjust the initial offer to account for unforeseen renovations.
We compiled a checklist of items to ensure a smooth home inspection. For more information, visit
Preparing for a Home Inspection.
Closing:
If the company’s final cash offer for your house matches your expectations, then you can proceed with the sale and arrange a day and time to close with the title/escrow company.
How Much Do Ohio “We Buy Houses for Cash” Companies Pay?
Cash buyers in Ohio offer lower prices then you may expect listing your property on the market. While offer's may vary, it's not uncommon for cash buyers to offer roughly 50% of the home’s After-Repair Value (ARV). The more repairs your home requires, the lower the price it will fetch. For example, If your home’s fair market value is $350,000 and you need a $20,000 roof replacement and $10,000 - $15,000 of additional repairs, your offer may come in around $220,000 - $230,000.
Alternatives to Companies That Buy Houses for Cash in Ohio
List Your Home With a Flat Fee MLS Service:
You may be able to get top dollar for your home on the open market by paying a discounted broker a flat fee. Service may be limited and it's a good idea to review the terms offered by each flat fee service provider before signing anything.
Ohio Property Group and
Ohio Broker Direct service the Columbus market.
Hire a Top Realtor:
Realtors can help you sell your property for top dollar. Keep in mind, the best Realtors will typically charge a commission equivalent to 6% of the sales price.
Sell “For Sale By Owner”:
Selling your home For Sale By Owner (FSBO) implies you're not represented by a Realtor. While you may avoid paying commissions, you are responsible to market your property, manage offers and showings.
Should You Sell to Companies That Buy Houses for Cash in Ohio?
Don’t settle for an offer from just a single cash home buyer. Feel free to request offers from any of the resources listed in this article.
In Closing
If you're still on the fence about the best path forward, be sure to check out more information on how we arrive at a cash offer "
What is Considered a Fair Offer?". If you prefer to avoid the expense of listing your property, we would love to purchase your home today “as-is”. Find out how much you can save on closing costs and other home-selling expenses with a
no-obligation cash offer from CoreMark Homes.
