Some of the most challenging parts of selling a home include getting it market-ready, promoting it in the hopes of getting offers and negotiating back-and-forth with potential buyers. But when you sell directly to a “we buy houses” company, you don’t have to deal with any of that. And in New Hampshire, where homes have been spending over a month on the market before they even go into contract (according to August Redfin data), there’s another big plus as well: These companies move with lightning speed, going from offer all the way to closing in just a few weeks (or even less).
Of course, there are drawbacks to working with these types of firms. In exchange for speed and convenience, you’ll usually sacrifice profit — they don’t pay top dollar. In some situations, though, selling to a cash homebuyer could make sense. To help you decide if this is a good option for you, let’s look at some of the companies that advertise “we buy houses in New Hampshire,” and how they work.
Types of companies that buy houses for cash in New Hampshire
There are a number of cash-homebuying companies in New Hampshire, including well-known national brands and small, local operations. Here are some options to consider:
National options
Two big, nationwide cash-homebuyers operate in the Granite State, both specializing in quick, all-cash transactions and buying properties in as-is condition. We Buy Houses has three offices in New Hampshire: Concord, Derry and Dover. If you’re interested in selling to this company, they’ll send a representative to check out your home, then make an offer (often within 24 to 48 hours). In some cases, you can close in just a week or two. HomeVestors, which also goes by “We Buy Ugly Houses,” works similarly and closes the deal in as little as three weeks. It purchases properties in the Manchester area.
Like other homebuying operations, iBuyers also work quickly and make all-cash offers. However, they can charge steep service fees and are pickier about what kind of homes they’re willing to buy. Currently, neither of the biggest iBuyers — Opendoor and Offerpad — operate in New Hampshire.
Local options
New Hampshire is also home to several locally owned and operated cash-homebuying companies, including:
- Colony Property Investments: Based in Nashua, this veteran-owned business was established in 2016. It buys homes in any condition and does not charge any fees.
- NH Home Buyers: Founded in 2017, this is another veteran-owned cash homebuyer. The family-run business buys houses in the Manchester area and can close deals in just seven days.
- Joe Homebuyer New Hampshire: This firm purchases houses in Sullivan and the surrounding areas, extending offers in as little as 24 hours and close in a week or so. It is also family-owned.
How do ‘we buy houses’ companies work?
“We buy houses” companies in New Hampshire (and elsewhere) typically focus on purchasing homes in as-is condition — meaning you don’t have to make any repairs, upgrades or even clean up before selling. This might be appealing if your home is in poor condition or if you don’t have the financial means to fix it up before selling. Selling to a cash homebuyer might also be worth considering if you’ve inherited a house you don’t want or if you’re in a hurry to sell — for example, if you’re relocating for a new job.
Be aware, though: While these types of companies pay in cash, which enables them to move fast, the prices they offer are going to be lower than what your home’s full market value might be. These are for-profit operations, typically fixing up and flipping homes as quickly as they can, and they do need to make money on each transaction in order to stay in business.
Although the exact steps and timelines might vary from company to company, most “we buy houses” firms follow a similar process: You’ll get started by reaching out to the business (either online or over the phone) and providing some basic details about your home. Many companies will make you a preliminary offer right away, but generally, the next step involves an in-person visit to evaluate your property’s condition.
From there, you’ll receive a final cash offer — sometimes on the spot, but if not, usually within 24 to 48 hours after the evaluation. There’s no obligation to accept, so you’re free to request offers from multiple companies and choose the best one. A couple of things to keep in mind, though: These offers may expire soon after you receive them, so you should try to make a decision relatively quickly, and the offers are typically not negotiable.
If you accept, you can expect a speedy closing process as well; in most cases, you’ll finalize the deal in a few weeks or less. Most companies will let you choose, with a particular timeline, a closing date that works best for you. Don’t let the quick pace make you feel rushed or deter you from doing your due diligence, though. Don’t sign anything until you’ve read — and fully understand — the terms of the deal.
Alternatives
Working with a cash-homebuyer is just one way to sell a house in New Hampshire. Other options include:
- Traditional sale with a real estate agent: Enlisting the help of a knowledgeable local agent is the most common way of selling a home. This method will certainly take longer than a cash-homebuyer sale — a median of 36 days before going under contract, according to Redfin data — but it’s the best way to earn the best price possible. However, you will have to pay your agent a commission fee, which typically amounts to 2.5 to 3 percent of the home’s sale price.
- For sale by owner: You can also manage the sale on your own in what’s known as a “for sale by owner” (or FSBO) deal. When you go this route, you’re in charge of everything that a Realtor would normally handle. This includes setting an asking price, promoting your listing, hosting showings, negotiating with buyers and more — it gives you more freedom, but it’s a lot of work. And according to the National Association of Realtors, FSBO listings often sell for far less than agent-assisted ones.
- Rent it out instead: If you don’t need the money from a sale right now — and you have somewhere else to live — you might put your house up for rent instead of selling. As long as you’re comfortable taking on the duties of a landlord, this option could provide a steady source of monthly income. According to Zillow Rental Manager, the median rental price for a home in New Hampshire is $3,000 per month.
Next steps
Is it worth selling to a cash homebuying company in New Hampshire? It could be — especially if you’re in a rush to relocate or you’d rather not fix up your home before selling. But if you’re comfortable with a lengthier process in exchange for a potentially larger payout, then hiring a local real estate agent is likely a better fit.
If you’re on the fence, you can contact a few cash homebuyers and find out what they’re willing to offer for your home. Remember: There’s no obligation to accept. You can also speak with an agent to get a better idea of how much you might earn on the open market. If there’s a large enough gap between the cash offers and an agent’s estimate, opting for an agent-assisted sale might make more sense.
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