Over 30.7% of all homes in the US sell for cash, up slightly from 30.4% a year ago. This shows that cash is still king in the Hostess City of the South.
Cash buyers offer a fast, as-is sale, often closing within 7 days. But which cash buyers will get you 100% of your home’s Fair Market Value? See our rankings below to find out and keep thousands in your pocket!
Bạn đang xem: 7 Best Companies That Buy Houses for Cash in Savannah in 2024
Reviews: 7 Top Cash Home Buyers in Savannah
1. Houzeo: Savannah’s #1 Cash Home Buyer Marketplace
With Houzeo, your home gets maximum exposure to Savannah’s best cash home-buying companies and individual investors. You could get multiple competitive offers for your home, driving up its final sale price.
2. Offerpad
Offerpad extends cash offers that are up to 80% of your home’s fair market value within 24 to 48 hours. They use advanced algorithms that compare local property prices to calculate offers.
The biggest downside to selling to Offerpad is their strict eligibility criteria. They can withdraw from the sale if your home doesn’t meet their requirements at any point during the transaction.
3. We Buy Houses
We Buy Houses is a real estate investment company specializing in buying distressed properties at a discount across the country. You can sell your home without spending a dollar on repairs. However, you will be forced to settle for an offer that’s 50% to 70% of your home’s value.
This cash buyer operates on a franchise model. So, the quality of service you receive may differ based on your location.
4. Opendoor
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Opendoor is a good option if your home needs minimal repairs. You can get a maximum of ~80% of your property’s fair market value. However, this means leaving thousands of dollars on the table. Their service fee is also a steep 5% of your home’s sale price.
5. New Horizon Home Buyers
New Horizon Home Buyers is based in Chattanooga, Tennessee. However, they provide services in major cities of Georgia including Macon, Ringgold, Ft. Oglethorpe, Augusta, Atlanta, and Gainesville. They will offer up to 70% of your home’s market value. They will then flip it and sell it for profit.
6. We Buy Ugly Houses
We Buy Ugly Houses operates as a franchise under its parent company, HomeVestors. Each franchisee is independently owned and operated. This leads to variations in service quality and customer experience across different locations nationwide.
Further, if your home requires extensive repairs, you may just 30% to 50% of your home’s fair market value.
7. Maximum Cash Home Buyers
Maximum Cash Home Buyers is a local GA-based cash buyer. It was founded in 2009 by Chris and Megan Burrow. With this cash buyer, you will only get 50%-70% of your house’s fair market value. Their services are limited only to the Peach State.
Are Companies That Buy Houses for Cash in Savannah Legit?
Yes, companies that buy houses for cash are legitimate and operate legally nationwide. They purchase distressed properties at a discount, renovate them, and then sell them for profit.
3 Types of Companies That Buy Homes in Savannah
- We Buy Houses for Cash Companies: They typically extend offers for distressed homes and pay 30% to 70% of the properties’ FMV. These companies include popular names like HomeVestors and New Horizon Home Buyers.
- iBuyers: They offer instant cash offers that are 70% to 80% of the FMV. Additionally, Opendoor and Offerpad have strict eligibility requirements, limiting the types of homes they purchase.
- Home Trade-In Services: These cash home buyers give you an advance on your cash offer before you move out, ensuring a smooth and hassle-free transition. Companies like Knock or Orchard provide this service.
4 Steps to Sell Your Home for Cash in Savannah
If you’re wondering how to sell your home for cash in Savannah, here’s what you need to do:
- Find a Cash Home Buyer: Research all companies buying houses for cash in your area. Choose one based on client testimonies and positive online reviews.
- Request an Offer: Once you’ve selected a cash buyer, request an offer on their website. You must provide information such as property type, number of bedrooms and bathrooms, asking price, etc. You will also have to give the reason for the home sale.
- Schedule a Home Visit: A representative from the company will come to inspect your house. They will then give you their final cash offer.
- Close the Deal: If you’re happy with the offer, finalize the deal. Remember to get all the paperwork for selling a house without a Realtor verified by a real estate attorney.
How Much Do “We Buy Houses for Cash in Savannah” Companies Pay?
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Cash buyers in Savannah usually offer between 30% to 70% of a home’s After-Repair Value. The offer also depends on factors like the company you’re selling to, their service fees, etc. The After-Repair Value is calculated as follows:
After-Repair Value (ARV) = Property Purchase Price (PPP) + Cost of Repairs (COR)
Imagine if you’re selling your $324,990 home in Savannah. With a traditional cash home buyer, you could get just $227,493. But, with a cash buyer marketplace like Houzeo, you only pay $749 and get up to $324,241!
📢 NAR Settlement Saves Sellers Thousands in Commission
The NAR Settlement went into effect on August 17, 2024. Buyer agent commissions can no longer be offered on the MLS. This means sellers will save thousands! But it also means there’s a lot more compliance and litigation risks.
Here’s what this means for you:
- Sellers Can Save Thousands in Commissions: You will likely pay much less than the traditional 3% buyer agent commission. That’s because buyer agent commissions will be negotiated twice: Once when buyers engage buyer agents, and again when sellers review offer contracts.
- Seller Priority #1 Will Be Paperwork (to Mitigate Compliance & Litigation Risks): Buyer agents mitigate all types of risks. From seller disclosures, offer contracts, contingencies, inspections, repair requests, appraisal, and closing – Buyer agents keep the paperwork tight. Their state licensing authorities, Realtor associations, and MLS’ audit paperwork compliance. Without buyer agents, sellers will have to learn and adapt. Or risk expensive litigation.
- Negotiations Can Now Feel Like Haggling: Buyer agent commissions will now be part of offer contracts and buyer agency agreements. Buyers may ask sellers to include commissions in the form of seller concessions. That means home buyers and sellers alike will be negotiating commissions. Sellers will need expert licensed brokers to help them with these negotiations.
- Buyer Agent Commissions Can Be Offered Offline: Buyer agent fees can still be offered outside of the MLS. They just cannot be advertised on the MLS.
Pros and Cons of Companies That Buy Houses for Cash in Savannah
✅ Pros
- Fast Cash Sale: Typically, sellers must list on MLS in Georgia and wait for potential buyers. “We Buy Houses for Cash” companies offer a cash deal within 24-48 hours.
- Flexible Closing: Cash buyers in Savannah close quickly and on your timeline. So you can sell your home anywhere between 7 days to 30 days as per your convenience.
- Zero Service Fees: Savannah’s cash house buyers don’t charge any service fee. Their net profit is enough to sustain their fix-and-flip model.
❌ Cons
- Lowball Cash Offers: Cash companies that buy homes in Savannah typically pay 30% to 70% of market value, deducting repair and resale costs.
- Non-Negotiable Deals: When dealing with cash home buyers, the offer is usually take-it-or-leave-it.
- Possible Closing Costs: Some buyers may require you to pay seller closing costs, so always review terms carefully.
Alternatives to Companies That Buy Houses for Cash in Savannah
- List Your Home With a Flat Fee MLS Service: You can get up to 100% of your home’s market value with a Flat Fee Georgia MLS listing. Your home is visible to multiple cash buyers and investors, increasing your offers.
- Hire a Traditional Full-Service Realtor: When you opt for a full-service Savannah Realtor, you will have to shell out a 5% to 6% commission. That’s $19,499 on a $324,990 home gone!
- List With a Discount Real Estate Broker: They are real estate professionals who offer the same services as traditional agents but for a lower fee. Discount real estate brokers in Georgia charge between 0.5% to 2% as fees.
- Sell “For Sale By Owner”: In a FSBO sale, you’ll have to opt for “DIY” marketing strategies like using FSBO signs and word of mouth. But your listing won’t be on Zillow, Trulia, and Realtor.com. Meanwhile, paid For Sale By Owner sites in Georgia will help you list on the MLS and increase exposure.
Should You Sell to Companies Buying Houses in Savannah?
Yes, but only if you want to sacrifice thousands of dollars. By accepting an offer from a single cash buyer, you may receive only 30% to 70% of your home’s value, sacrificing equity for a quick sale.
If you want the best of both worlds, a cash buyer marketplace is your best bet. Within 24 hours, your home will be visible to multiple local and national cash buyers, boosting your chances of competitive offers.
Frequently Asked Questions
- Companies That Buy Houses for Cash
- Georgia
- Savannah
- Seller
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