New Horizon Home Buyers Reviews – Should You Accept Their Offers?
Posted by cfh-adminPosted at July 18, 2024
6mins read.July 18, 2024
We’re real estate investors who buy houses with cash, as-is. We don’t make you repair defects, and we don’t have to get financing. We just put cash on the table and pay you for your house. So when do we need to close?
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Pros
Cash Offer: They offer a competitive cash offer, working with you to reach a fair price that benefits everyone involved.
No Realtor Fees: Since they buy directly from you, there are no realtor fees involved, saving you money on commissions.
No Closing Fees: They also cover all closing costs associated with selling your property, eliminating another financial burden for you.
Flexible Closing: The closing process is flexible. You have complete control over the closing date, allowing you to choose a timeframe that works best for you, whether it's a fast sale or a more extended timeline.
Sell as Is: There's no need to worry about cleaning or repairs. They will buy your house "as-is," eliminating the hassle of pre-sale preparations.
Will Try to Beat Other Offers: Even if you have received another offer, they encourage you to let them try to beat it. With no obligation to accept, it can't hurt to see if they can offer a more competitive price.
Cons
Limited Online Reviews: There aren't many reviews available online, particularly on platforms beyond Google. This makes it difficult to gauge customer experiences.
Unclear Payout Structure: Details regarding the breakdown of the cash offer and potential deductions aren't readily available on their website. It's crucial to understand these details before moving forward.
Lower Selling Price: Cash offers from companies like New Horizon Home Buyers are typically lower than what you might achieve through a traditional market sale. They factor in renovation costs, holding costs, and their profit margin into their offer price.
Limited Reach: Their services seem restricted to Oklahoma City and surrounding areas.
Thinking of selling your house quickly and conveniently? New Horizon Home Buyers (NHB) has emerged as a potential solution, promising a streamlined cash-for-houses experience. This comprehensive review dives into their legitimacy, services, customer experiences, and industry reputation to help you make an informed decision.
Is New Horizon Home Buyers Legit?
New Horizon Home Buyers appears to be a legitimate company. Here’s a breakdown of their online presence:
Website: A user-friendly website outlining their fast cash offer process and testimonials from satisfied customers.
Online Reviews: Positive reviews on Google (4.9 stars with 37 reviews) and Yelp (5 stars with 1 review) (potential for bias on company website testimonials).
BBB Accreditation: Accredited by the Better Business Bureau (BBB) with a perfect A+ rating, but no reviews or complaints filed (positive sign, but limited data).
While the lack of extensive reviews on the BBB raises a cautionary flag, their positive Google and Yelp reviews, coupled with BBB accreditation, suggest a good initial impression.
What Types of Properties Do They Buy?
New Horizon Home Buyers focuses on purchasing single-family homes in the Chattanooga, Tennessee area. They advertise buying houses in “as-is” condition, potentially saving you time and money on pre-sale repairs. Here are some property types they might be interested in:
Traditional single-family homes
Bungalows
Inherited properties
Houses requiring repairs
Foreclosure properties (uncertain based on website information)
Coverage
New Horizon Home Buyers buys houses all over the country.
Selling Process
New Horizon Home Buyers outlines a straightforward selling process on their website:
Contact: You can initiate contact through a form on their website or by phone. They claim a quick response time.
Cash Offer: They claim to provide a fair cash offer within 24-48 hours after reviewing basic information and photos of your property.
Closing: Once you accept the offer, they handle the closing process, aiming to close within 14 days.
Payout
The specifics of their payout structure are not readily available on their website. They emphasize offering cash upfront, but it’s crucial to get a written breakdown of the offer terms during initial contact. Be sure to understand any potential deductions or closing costs associated with the sale.
Reviews
Google Reviews: 4.9 stars with 37 reviews, mostly positive, highlighting speed, convenience, and professionalism .
Yelp Reviews: 5 stars with 1 positive review.
BBB Reviews: Accredited with an A+ rating, but no reviews or complaints filed on the platform.
The positive reviews emphasize the speed, convenience, and professionalism of New Horizon Home Buyers. However, it’s important to consider the potential bias of reviews on the company website and the limited number of reviews on independent platforms like the BBB and Yelp.
Pros and Cons
Pros:
They offer a competitive cash offer, working with you to reach a fair price that benefits everyone involved.
Since they buy directly from you, there are no realtor fees involved, saving you money on commissions.
They also cover all closing costs associated with selling your property, eliminating another financial burden for you.
The closing process is flexible. You have complete control over the closing date, allowing you to choose a timeframe that works best for you, whether it’s a fast sale or a more extended timeline.
There’s no need to worry about cleaning or repairs. They will buy your house “as-is,” eliminating the hassle of pre-sale preparations.
Even if you have received another offer, they encourage you to let them try to beat it. With no obligation to accept, it can’t hurt to see if they can offer a more competitive price.
Cons:
Limited Online Reviews: There aren’t many reviews available online, particularly on platforms beyond Google. This makes it difficult to gauge customer experiences.
Unclear Payout Structure: Details regarding the breakdown of the cash offer and potential deductions aren’t readily available on their website. It’s crucial to understand these details before moving forward.
Lower Selling Price: Cash offers from companies like New Horizon Home Buyers are typically lower than what you might achieve through a traditional market sale. They factor in renovation costs, holding costs, and their profit margin into their offer price.
Limited Geographic Reach: Their services seem restricted to Oklahoma City and surrounding areas.
Competitors
The Chattanooga cash-for-houses market is competitive. Here’s a look at some New Horizon Home Buyers’ competitors:
We Buy Any House
Express Homebuyers
Sell My House Fast Chattanooga
Tennessee Home Buyers
Competitor Analysis
Considering other options before making a final decision is crucial. Here’s a quick comparison of New Horizon Home Buyers with their competitors in Chattanooga:
Feature
New Horizon Home Buyers
We Buy Any House
Express Homebuyers
Sell My House Fast Chattanooga
Tennessee Home Buyers
Service Area
Chattanooga Area
Nationwide
Nationwide
Chattanooga Area
Tennessee (uncertain about specific areas)
Property Types
Single-family homes
Single-family homes
Single-family homes, townhouses, condos
Single-family homes
Single-family homes, townhouses (uncertain about condos)
Cash Offer
Yes
Yes
Yes
Yes
Yes
Closing Speed
Up to 14 days
Varies
Varies
Varies
Varies
Online Reviews
Positive (Google 4.9 stars with 37 reviews, Yelp 5 stars with 1 review)
Extensive
Moderate
Moderate
Limited
Key Takeaways from the Competitor Analysis:
Geographic Focus: New Horizon Home Buyers and Sell My House Fast Chattanooga cater specifically to the Chattanooga area, while We Buy Any House and Express Homebuyers operate nationwide and Tennessee Home Buyers covers a broader area within the state (uncertain details).
Property Types: While most companies buy single-family homes, Express Homebuyers and Tennessee Home Buyers might also consider townhouses (depending on their specific offerings).
Closing Speed: All companies offer a fast cash sale, but specific timelines can vary. It’s crucial to confirm this during initial contact.
Online Reviews: While New Horizon Home Buyers has positive reviews, exploring companies with more extensive customer experiences reflected online (We Buy Any House, Express Homebuyers) might be beneficial.
Other Options You Should Consider
Before selling to New Horizon Home Buyers, consider these alternative avenues:
Get Multiple Cash Offers: Compare offers from several cash-for-houses companies in the Chattanooga area to ensure you’re getting the best possible price. There are online platforms that connect sellers with multiple iBuyers (instant buyers) in your area, fostering a more competitive market.
Work with a Real Estate Agent: If market conditions are good and time allows, consider listing your house with a reputable real estate agent specializing in the Chattanooga market. Their expertise can help you achieve a higher selling price in a traditional sale.
Explore Renovation Options: Depending on your house’s condition and market trends, renovations could significantly increase its value before a traditional sale.
New Horizon Home Buyers presents a potentially attractive option for Chattanooga homeowners seeking a quick and convenient cash sale. Their positive online reviews and BBB accreditation suggest a good initial impression. However, some key considerations remain:
Limited Transparency: Ensure you get a written breakdown of their cash offer outlining any deductions or closing costs. Don’t hesitate to ask questions and negotiate the terms before accepting their offer.
Get Multiple Offers: While New Horizon Home Buyers might seem efficient, comparing their offer with proposals from other cash-for-houses companies and potentially a real estate agent can help you secure the best deal.
Consider Traditional Options: If maximizing your return is a priority, explore traditional selling methods. While it might take longer, a real estate agent can potentially fetch a higher price, especially in a favorable market.
Ultimately, the decision to sell to New Horizon Home Buyers depends on your specific circumstances and priorities.
Choose New Horizon Home Buyers if:
Speed and convenience are paramount.
You need to sell your house in the Chattanooga area quickly and “as-is.”
The potential trade-off between a fast cash sale and a potentially higher traditional sale price is acceptable.
Consider alternative options if:
You have time and want to maximize your return.
You’re open to making pre-sale repairs to potentially increase your selling price.
You value transparency and want a clear breakdown of the selling process and costs.
Here are some additional FAQs that might be helpful:
FAQs
What is the average closing time with New Horizon Home Buyers?
Their website states a timeframe of up to 14 days. It’s best to confirm this during your initial contact and inquire about any factors that might influence the closing timeline (e.g., title search complexities).
What fees are involved with selling to New Horizon Home Buyers?
Their website doesn’t explicitly mention any fees. Ensure you get a written breakdown of the offer outlining any potential deductions or closing costs.
Is there an obligation after contacting New Horizon Home Buyers?
There shouldn’t be any obligation to sell after getting a cash offer. However, it’s crucial to review their terms and conditions before proceeding.
Conclusion
Selling a house in Chattanooga can involve complex decisions. New Horizon Home Buyers offers a fast cash-for-houses solution, but prioritizing transparency and exploring all options is crucial. Carefully weigh your priorities, conduct thorough research, and get multiple offers before making a final choice.