How To Sell Your House Fast With Cash Home Buyers in Ohio
Selling your Ohio home for cash can offer a convenient alternative to the traditional market. Deals are able to close faster, and there are fewer contingencies involved that could disrupt the sale. The Buckeye State’s housing affordability, strong rental demand, and robust economy attracts a wide range of cash buyers, from corporate investors to local house flippers.
Cash home purchases are on the rise in many Ohio cities. Youngstown, for instance, saw a significant increase, with 55.1% of all homes sold in 2023 bought with cash, according to the National Association of Realtors.
This guide will walk you through the process of finding and selling to cash home buyers in Ohio. From spotting trustworthy buyers to understanding market dynamics, you’ll find everything you need to ensure a smooth and successful cash home sale.
Disclaimer: As a friendly reminder, this blog post is meant to be used for educational purposes, not legal or tax advice. HomeLight always encourages you to reach out to your own advisor.
How to find cash home buyers in Ohio
Interested in selling your home quickly and with minimal hassle? Cash buyers might just be the solution you need. Here are some tips on how to find reputable cash home buyers in Ohio who are ready to make a fair offer for your property.
Work with a reputable local real estate agent
Even if you’re leaning toward a cash home sale, a real estate agent can still bring significant advantages. Many agents have established networks of pre-vetted cash buyers, saving you the time and effort of researching them yourself. An agent-recommended buyer is also more likely to be reliable and reputable.
Although you’ll have to pay them a commission, the expertise and efficiency an agent provides can streamline the process and bring peace of mind. If you haven’t chosen an agent already, HomeLight can connect you with top professionals in your area.
Focus on investors rather than owner-occupiers
Ohio sees a large presence of institutional real estate investors, including companies, corporations, and LLCs that buy properties for cash, often single-family homes they can turn into long-term rentals. To attract these corporate buyers or even smaller mom-and-pop landlords, consider listing your property on investment websites or attending real estate investing events.
You can also get in touch with “We Buy Houses” companies in Ohio to request no-obligation cash offers for your house. Keep in mind that many of these investors, especially house flippers, follow the 70% rule, meaning they will offer 70% of the property’s market value minus any renovation costs.
Do your due diligence
Researching and vetting cash-for-homes companies is key to finding a reputable one. Use resources like the Better Business Bureau (BBB) to verify the companies you are considering working with. You can also reach out to one of the state’s many local offices, including: BBB Serving Canton Region & Greater West Virginia, BBB Serving Northwest/West Central Ohio and Southeast Michigan, BBB Cincinnati, BBB Serving Greater Cleveland, BBB of Dayton and Miami Valley, BBB of Akron, BBB of Central Ohio, and BBB of Mahoning Valley.
Scour online reviews from websites like Google, Yelp, Facebook, and Trustpilot to get a better sense of the company’s reputation. Additionally, check the company’s track record, licenses, and customer referrals to ensure they have a history of reliable transactions.
Before signing an offer, ask for proof of funds
It sounds obvious, but choosing a cash buyer who can readily demonstrate their ability to purchase your house is essential. Always ask for proof of funds, which is a document (typically a bank statement or an official letter from the financial institution) that confirms they have the cash on hand. If a buyer is hesitant or unwilling to provide proof of funds, consider it a red flag, and seek out a more trustworthy company instead.
