House Buyers of America: Is This Cash Home Buyer Legit? (2022 Review)

Is it legit? | What it pays for houses | Who it works best for | Reviews | How it works | FAQs

House Buyers of America is a cash home buyer that purchases homes in nearly any condition in the mid-Atlantic U.S.

It’s an option for homeowners who need to sell ASAP (one to four weeks) and want to avoid the stress and hassles of selling on the open market. However, while House Buyers of America doesn’t charge any fees, you’ll sell for much less than by listing your home with an agent.

Before committing to House Buyers of America, we recommend comparing all of your options first, including other cash home buyers, iBuyers, and discount brokers.

Our friends at Clever will match you with a local realtor who will field offers from the top cash buyers in your area. You’ll also get a free professional home valuation, so you can compare your cash offers to what your house is worth on the open market. Get cash offers from top local buyers now!

What is House Buyers of America and is it legit?

House Buyers of America is a legitimate real estate investment company founded in 2001. It buys homes as-is (no repairs needed) for cash in Maryland, Pennsylvania, Virginia, and Washington, DC, and is in the process of expanding.

The company buys single-family homes, townhouses, condominiums, and duplexes, but does not buy apartments, multi-family houses or buildings, or land.

Some “we buy houses” companies are a ripoff, but House Buyers of America is a legit company that may offer homeowners a fast way to sell their house without the inconvenience of listing it on the open market. The company is accredited by the Better Business Bureau (BBB), where it has an A+ rating, in addition to boasting largely positive reviews across the internet.

Still, you should explore all of your options before committing to an as-is, cash sale through House Buyers of America. You might be able to sell faster and at a higher price elsewhere.

How much does House Buyers of America pay?

Like other cash home buyers, House Buyers of America may offer you only 75% (or less) of your home’s after-repair value (ARV). The final offer you get should reflect the condition of the home — minus maintenance expenses, selling costs, utilities, and financing.

Cash home buyers base your home’s ARV (the estimated value of your home after it’s been repaired) on your property’s:

• Overall condition, including what needs to be renovated
• Age and size
• Location and amenities
• Neighborhood, including how much similar homes are selling for in your area

In general, cash buyer companies are motivated to buy distressed properties for a low price so to fix them up and sell for a profit.

Who does House Buyers of America work best for?

House Buyers of America offers a fast, no-strings-attached process. That speed and convenience might be worth the trade-off of selling your home at the highest price.

So selling with House Buyers of America likely works best for homeowners who:

• Need to cash out their home equity to avoid foreclosure, maybe because they’re behind on mortgage payments
• Might not be able to sell their home quickly (or at all) on the open market because it’s in poor condition
• Need to sell ASAP, whether due to a divorce, job relocation, death in the family, etc.

House Buyers of America reviews

House Buyers of America has a 4.89-star rating at the BBB based on 122 customer reviews, and a 4.7-star Google rating based on 200 reviews.

Satisfied homeowners report that House Buyers of America provides streamlined negotiation and closing processes that make it easier to sell a home. Reviews reveal this is especially true for buyers who need to sell quickly and those without the cash to make repairs before selling on the open market.

Yelp reviews are more negative: complaints focus on low offers, frustrating marketing practices, and poor communication. Customers have also submitted several House Buyers of America complaints through the BBB.

However, most BBB complaints focus on the company’s unsolicited marketing practices, not its actual business dealings. Reviewers asked the company to stop contacting them repeatedly.

House Buyers of America alternatives

If you want to sell your house fast, a company like House Buyers of America may be a good fit. But some alternatives can help you get more for your home while still reducing fees and closing quickly.

Sell to an iBuyer

An iBuyer is a kind of real estate tech company that offers to purchase homes based on algorithms and other types of technology. iBuyers differ from some cash buyers in that they focus on houses that will be easy to resell and require minimal repairs — rather than homes in bad condition.

Using an iBuyer may be a good option if your home is in good condition and you need to move quickly.

Sell to another cash home buyer

A real estate investor or cash home buyer typically focuses on vacant or distressed homes they can purchase for a low price. If your home fits that description and you don’t want the hassle of working with a traditional real estate agent, a cash buyer may be a good opportunity.

A number of companies buy houses for cash, so shop around and compare offers to get you the best price and terms. When comparing options, consider the fees, contingencies, and closing speeds advertised by each company.

Sell on the open market

If your home is in good condition, selling on the open market will likely result in a higher price because buyers will submit competitive offers. You may even get multiple bids or a cash offer if the right buyer comes along.

However, this approach comes with challenges and will take longer as you’ll need to prepare the home for sale, hire a real estate agent, and pay related commissions and closing costs.

Consider selling on the open market if your house is in good shape or you live in an area with a thriving real estate market. A traditional sale may also be appropriate if your timeline allows for a lengthy due diligence period and closing process.

Need help deciding which option is best for you? Our friends at Clever Real Estate match you with top local real estate agents from well-known brokerages like Keller Williams and RE/MAX. These agents will bring you offers from other trustworthy cash home buyers, and help you weigh all of your options.

How selling to House Buyers of America works

House Buyers of America makes it easy for homeowners to get a quote online or via phone. Follow these steps to find out what the company is willing to offer.

Step 1. Request an offer

Start the selling process by requesting an initial offer from House Buyers of America via phone or online. The company reports that responses are generally available within 10 minutes during regular business hours.

Based on the information you provide, House Buyers of America performs research on your property before visiting in person.

Step 2. Schedule an in-person appointment

If you decide to continue the process based on the initial offer, House Buyers of America schedules a brief visit to your property. Even though sales are as-is, a home visit helps the company evaluate the property’s condition and required repairs.

Step 3. Receive an offer

House Buyers of America provides an official offer. House Buyers of America gives homeowners time to consider the offer, negotiate, and answer questions about the next steps (like closing).

Step 4. Close on your timeline

Once you accept the offer, House Buyers of America assigns you a dedicated settlement coordinator who guides the transaction through to the closing table. Closing typically takes one to four weeks, and sellers usually receive payments within days.

House Buyers of America FAQs