Do you need to sell your home quickly and efficiently? We Buy Houses Chesapeake companies might be the solution you’re looking for. These companies offer all-cash proposals for properties that typically require renovations, usually in a matter of days.
Selling your home for cash can be the right call when faced with an unexpected crisis or life change. Whether it’s financial pressures, relocation needs, or just wanting a fresh start, a quick cash sale can provide the relief you need without the hassle of traditional home selling.
This post will explore the pros and cons of working with house-buying companies in Chesapeake, providing you with the necessary information to weigh your options and make an informed decision. We will also give you some alternatives and show you how the process works.
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Working with house-buying companies in Chesapeake
Partnering with a house-buying company isn’t complicated, but there are some steps you should know. Here’s a brief look at how the process of selling a house for cash works:
- Contact a company: Reach out to a reputable house-buying company in Chesapeake. Provide them with basic information about your property to get started.
- Schedule a visit: Allow the company to inspect your property. This step helps them assess the condition of your home and formulate an offer.
- Receive an offer: After evaluating your home, the company will present you with a cash offer. This offer is typically non-negotiable, so it’s important to consider it carefully.
- Review the terms: Go over the terms of the offer. Ensure you understand all the details, including any fees or closing costs you might be responsible for.
- Accept the offer: If the offer meets your needs, you can accept it to move forward with the sale.
- Close the sale: Close the transaction, often within a week or so. The company usually handles all the paperwork, making the process swift and hassle-free.
Popular We Buy Houses for Cash companies in Chesapeake
If the process of selling to a house-buying company in Chesapeake 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’ property, whether that’s a Colonial or a ranch. By working with one of these companies, you should be able to sell your Chesapeake home in as little as a week or two.
Hampton Roads House Buyers
Hampton Roads House Buyers, a veteran- and family-owned firm based in Suffolk, specializes in providing strategic real estate solutions for homeowners facing a range of circumstances. Backed by decades of renovation experience, the company leverages its expertise to manage costs efficiently, enabling more competitive cash offers.
Each property is assessed with care to ensure a tailored, value-driven proposal. Sellers typically receive an all-cash offer within 24 hours and have the freedom to choose a closing date that works best for their needs.
Locations: Chesapeake and surrounding areas, including Hampton, Virginia Beach, Norfolk, Newport News, Suffolk, and other areas of Virginia
Closing costs: Sellers pay no closing costs; Hampton Roads House Buyers covers them.
Hampton Roads House Buyers has been accredited by the Better Business Bureau (BBB) since 2021 and holds an A+ rating. Its Google Business Profile boasts 5 stars. Customers particularly appreciate the company’s fair and honest offers, prompt responses, and ability to close deals swiftly, often within 30 days.
Website: hamptonroadshousebuyers.com
Phone number: 757-498-2101
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Chesapeake (and across the country) can request a cash offer for their home. It connects you to one of the largest networks 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 Chesapeake.
With this platform, 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 Chesapeake.
Closing costs: No prep costs, agent commissions, or fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a platform by HomeLight, a real estate solutions company founded in 2012. Given its strong focus on excellent customer service, it earned BBB accreditation in 2019 and now holds an impressive 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.
Website: homelight.com/simple
Phone: 844-488-8455
Integrity Cash Home Buyers
Integrity Cash Home Buyers provides efficient and dependable solutions for homeowners seeking a swift and stress-free sale. With a focus on fairness and transparency, the company presents cash offers within 24 hours and can finalize the transaction in as little as 14 days, without hidden fees or closing costs.
It purchases properties in any condition, offering relief to those facing foreclosure, extensive repairs, inherited homes, or challenges with traditional listings.
Locations: Chesapeake and surrounding areas, including Norfolk, Virginia Beach, and Hampton
Closing costs: Sellers pay no closing costs; Integrity Cash Home Buyers covers them.
Adhering to ethical business practices, Integrity Cash Home Buyers has been BBB accredited since 2022 and now maintains an A+ rating. Its Google Business Profile boasts a high 4.8-star rating.
Clients mostly describe their selling experiences as relieving and stress-free, thanks to the team’s prompt and fair offers. Many highlight the group’s professionalism, noting how quickly they received support and how satisfied they were with the overall service.
Website: integritycashhomebuyers.com
Phone number: 757-630-4411
Coastal Edge Homebuyers
Coastal Edge Homebuyers offers an alternative to the traditional real estate process, which often requires time-consuming repairs, staging, and waiting for the right buyer. With a streamlined and client-focused approach, the company empowers homeowners to sell on their own terms, particularly in situations where speed and simplicity are essential.
Whether due to life changes, financial urgency, or the desire to avoid lengthy market exposure, sellers are provided with a clear path forward. The company is known for its ability to close in as little as seven days, offering both flexibility and peace of mind.
Locations: Chesapeake and surrounding areas, including Norfolk, Virginia Beach, Hampton, and Suffolk
Closing costs: Sellers pay no closing costs; Coastal Edge Homebuyers covers them.
Coastal Edge Homebuyers boasts a perfect 5-star rating on Google. The company’s approach to selling houses quickly and without the need for extensive preparation or dealing with real estate agents has particularly garnered positive feedback. Clients appreciate the straightforward process, the ability to close on their terms, and the flexibility to deal with tenants.
Website: coastaledgehomebuyers.com
Phone number: 757-414-7117
Cava Buys
Cava Buys provides a streamlined solution for homeowners looking to sell quickly. Closings are available in as few as seven days, but sellers can select a closing date that works best for their schedule.
The company purchases properties in any condition, allowing homeowners to skip repairs or prep work. With a professional team committed to transparency, Cava Buys delivers fair cash offers tailored to each situation. Clients can expect a straightforward process without hidden fees, commissions, or unexpected costs.
Locations: Chesapeake and surrounding areas, including Richmond, Charlottesville, Norfolk, Virginia Beach, and Chesterfield
Closing costs: Sellers pay no closing costs; Cava Buys covers them.
Cava Companies has been BBB accredited since 2014 and now holds an A+ rating. Its Google Business Profile features an average review score of 3.8 stars.
Clients frequently commend Cava Home Buyers for its exceptional service and professionalism. Inherited property sellers note the company’s fair offers and smooth transactions, while others highlight the supportive and reliable staff.
Website: cavabuys.com
Phone number: 804-215-0631
Why sell your Chesapeake house for cash?
There are plenty of valid reasons a Chesapeake home seller may choose to work with a Cash-For-Homes company. A quick and easy sale and no contingencies are some of the main benefits that sellers point to.
In Chesapeake, selling a home on the open market using an agent typically takes around 78 days. That includes an average of 38 days on the market, from listing to signed contract, plus the typical 40 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 Chesapeake, 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 scenarios where opting for a cash offer might be a good idea:
- Job relocation: If you’re moving for a new job and need to sell your home quickly, a cash sale can simplify your transition.
- Divorce settlement: Selling your home for cash during a divorce can speed up the splitting of assets and reduce stress.
- Unwanted inheritance: If you’ve inherited a home that you’re not prepared to manage, selling for cash can be a quick solution.
- Downsizing transition: For those looking to downsize, selling your current home for cash can make the move to a smaller home smoother.
- Major repairs needed: If your home is in poor condition and requires extensive repairs that you can’t afford or manage, a cash offer allows you to sell even without fixing it.
- Open house inconvenience: Selling for cash means you can skip the stress and invasion of privacy that come with open houses.
- Foundation issues: Homes with serious foundation problems can be difficult to sell traditionally, but fortunately, cash buyers often buy as-is.
- Foreclosure solution: If you’re at risk of foreclosure, a quick cash sale can help settle debts and avoid further financial damage.
- Problematic tenants: Selling a rental property with difficult tenants can be easier through a cash sale, avoiding eviction hassles.
- Remote home sale: For those who live out of state, far from the property they’re selling, a cash offer simplifies the process without requiring your presence.
Pros and cons of house-buying companies in Chesapeake
Selling your Chesapeake home to a house-buying company can be appealing, especially when you need a quick sale. But you could be leaving money on the table when you accept offers from these businesses that aim to boost profits.
Here’s a closer look at the pros and cons:
Pros:
The key advantages of working with house-buying companies include speed and convenience, particularly as they purchase homes in any condition.
- Speedy sale: A house-buying company can often close on a property in as little as a week, providing a fast solution for urgent situations.
- No repairs needed: These companies buy homes as-is, which means you don’t need to invest in repairs or renovations before selling.
- No real estate commissions: Selling to a house-buying company means you avoid paying agent commissions, which can save you a significant amount of money.
- Guaranteed deal: House-buying companies typically pay in cash, reducing the risk of deals falling apart from loan contingencies.
Cons:
While there are some positives to consider, receiving an offer below the potential market value is the main drawback. Here are the key disadvantages to keep in mind:
- Lower offers: Offers from house-buying companies are usually below market value, which means you might receive less money compared to a traditional sale.
- Limited negotiation: The price offered by these companies is often non-negotiable, so you have less flexibility to argue for a higher price.
- Scam risks: It’s important to vet the company thoroughly, as the industry can attract house-buying scams.
- Impersonal service: The transaction is typically very business-like, with less personal interaction or tailored service compared to working 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
When considering selling your Chesapeake home to a We Buy Houses for Cash company, it’s essential to remember that your experience will vary based on the company’s integrity and level of service. Here are key points to keep in mind:
- Vet the company: Before committing, thoroughly check the company’s reviews, read testimonials, and research their market presence and performance.
- Understand the offer: Make sure you fully understand the terms of the cash offer. Know what you are agreeing to.
- Read the agreement: Carefully read the buying agreement before signing. Look for any hidden fees or clauses that could affect 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 try our Home Value Estimator to get an initial ballpark estimate in less than two minutes.
Other options to sell your Chesapeake home quickly
Working with iBuyers: Instant buyers, or iBuyers, use automated valuation models (AVMs) to make quick, all-cash offers close to market value for homes in good condition.
Major players, like Opendoor and Offerpad, provide a streamlined, mostly online process that usually concludes in a few days to two weeks. However, iBuyer companies typically charge service fees of 5% to 6%.
Listing with an agent: Selling through a top real estate agent can also result in a quick sale if the market conditions are favorable and the property is well-marketed. You’ll receive a comparative market analysis (CMA), often free, to help set an appropriate price.
Experienced agents might connect you with cash buyers, ensuring you receive offers close to market value. Connect with a top agent through HomeLight for expert guidance and potentially higher offers.
FAQs on Chesapeake house-buying companies
By and large, most We Buy Houses for Cash companies in Chesapeake 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 BBB website. Watch for anything that just doesn’t seem right.
Most Chesapeake We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value (ARV) 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 Chesapeake colonial home could sell for $425,000 after repairs, but it will need $30,000 of work to get there.
($425,000 x .70) – $30,000 = $267,500
In this example, a Chesapeake We Buy Houses company might offer you around $267,500 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 they 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 Chesapeake 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 Chesapeake area. Our list above is a good place to start.
- Submit offer requests to a few 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 Chesapeake vs. top Chesapeake 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 Chesapeake | Sell with a top Realtor in Chesapeake |
| Selling timeline | 7 to 30 days | 78 days average; 38 to attract an offer, 40 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary repairs, landscape, and stage the home |
| Showings | None | 10 to 25 showings on 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 the 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% to 6% of the home’s sale price |
| Closing costs | None | 1% to 3% of the home’s 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 Chesapeake is worth about $395,000 and needs about $30,000 in repairs. Once the repairs are completed, the home might be worth around $425,000.
| Sell to a We Buy Houses for Cash company in Chesapeake | Sell with a top Realtor in Chesapeake | |
| Estimated sale price | ($425,000 x .70) – $30,000 = $267,500 | $395,000 |
| Market preparations | 0 | $3,950 (1% of the sale price) |
| Agent commissions | 0 | $11,850 (3% of the sale price) |
| Closing costs | 0 | $5,925 (1.5% of the sale price) |
| Estimated take-home for seller | $267,500 | $373,275 |
As this example illustrates, it’s usually in your best financial interest to partner with an experienced real estate agent.
However, net proceeds are not the only consideration when selling a home. What’s best for your situation will depend on the condition of your property, the level of repairs needed, and your selling objectives. It could be that selling on the open market will be a challenge in your area, or the agent’s timeline might not fit your immediate needs.
Key takeaways
- Speedy transaction: Selling to a house-buying company in Chesapeake can be incredibly fast, often closing within a week.
- Simple process: You can avoid the hassle of showings, repairs, and lengthy negotiations.
- Guaranteed sale: Offers are typically cash, reducing the risk of buyer financing fall-throughs.
- As-is sale: You can sell your property in its current condition, avoiding the cost and time involved in making repairs.
- Home value: Know your property’s estimated market value before you proceed with a cash-offer company.
At HomeLight, we’re happy to help you navigate 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-performing agent.
Editor’s note: This post is for educational purposes only. Links to and mentions of Chesapeake area ‘We Buy Houses’ companies are not endorsements. Moreover, the program details mentioned above may change. Visit the home-buying company’s website for the most up-to-date information.
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