A cash offer buys you speed and no repairs. Selling on the open market usually brings a higher price, if the house can wait.
In our example on a typical Marine Park house, listing would keep about $24,552 more than a fast cash buyer at the discount one study measured, and $207,846 more than an investor paying 70% of market value.
Stock photos of cash and a home for sale. Photos: Engin Akyurt, Helena Jankovičová Kováčová, Pavel Danilyuk, olia danilevich on Pexels.
The short version
- Get your market value first. Know what your house would sell for before you accept any cash offer.
- Cash can make sense when the house needs major work, you need a sure closing date, or you cannot handle showings.
- Listing makes sense when the house is in normal shape and you can wait the usual time to sell.
- How much less: one study found fast cash buyers paid 3.1 percentage points less than similar listed homes. Opendoor says “we buy houses” investors often target 50% to 70% of market value.
- How a cash sale works: the buyer pays with no mortgage, so there is no bank appraisal or loan approval to wait on. No showings, no repairs, and you pick the closing date. Opendoor, for one, advertises an offer within 24 hours and a close in 21 to 60+ days.
- Protect yourself: get proof of funds, have your own attorney read the contract, and sign up for the city’s deed alerts.
On this page
Cash offer or list it: when each makes sense for a Brooklyn house
When you sell your house in Brooklyn, the choice comes down to what you need more: the most money, or the least hassle and a sure closing date.
| Your situation | Usually better | Why |
|---|---|---|
| House needs a new roof, boiler or major repairs | Get both, compare | A cash buyer takes it as is. A listing may still win once repairs are priced in. |
| You must close by a set date | Cash | You pick the closing date, with no buyer mortgage to wait on. |
| Inherited house, family far away | Get both, compare | Cash is simple. A listing often pays more if someone can manage the sale. |
| Behind on the mortgage | Call the state’s homeowner help line first | New York gives you extra rights in this case. See the checks below. |
| House in normal shape, no rush | List it | Buyers compete on the open market. That is where full price comes from. |
How much less do cash buyers pay?
There is no official Brooklyn figure for what companies that buy houses for cash pay. Here is what the sources say, and who is saying it.
Outside research, not affiliated with The Behfar Team
They purchase properties at a 3.1 percentage point (pp) discount compared to similar listed homes.
Greg Buchak, Gregor Matvos, Tomasz Piskorski and Amit Seru, National Bureau of Economic Research working paper 28252, on iBuyers in markets such as Phoenix, Las Vegas, Orlando and Dallas. Not New York.
- Fast cash buyers (iBuyers): paid 3.1 percentage points less than similar listed homes, and earned “an average gross return of about 5%” on resale.
- Their fee: Opendoor told the SEC its service fee was set at 5% across all markets from 2021. Its help page now says it does not publish a fixed fee.
- “We buy houses” investors: Opendoor, which competes with them, says these “investors often target 50-70% of market value.” That is a company claim with no data shown.
The study looked at fast cash buyers in cities like Phoenix, not Brooklyn. Treat it as a guide, not a Brooklyn price.
What you keep: cash offer vs listing on a typical Marine Park house
This is a model, not a real sale. On the median Marine Park house sale of the last 12 months, $850,000, listing would keep about $24,552 more than a fast cash buyer and $207,846 more than an investor at 70%. Each route pays the state and city transfer taxes on its own price.
What a seller keeps on a $850,000 Marine Park house
After the fee or an example 5% commission and both transfer taxes. Sources under the table.
Median Marine Park house sale, October 1, 2025 to September 30, 2026, NYC Department of Finance. Cash figures: NBER working paper 28252, Opendoor.
| Route | Sale price | Fee or commission | Transfer taxes | You keep |
|---|---|---|---|---|
| List with an agent | $850,000 | $42,500 (5%, an example rate) | $15,512 | $791,988 |
| Fast cash buyer | $823,650 | $41,182 (5% fee, see note) | $15,032 | $767,436 |
| Investor at 70% | $595,000 | None | $10,859 | $584,141 |
| Investor at 50% | $425,000 | None | $5,950 | $419,050 |
Price: median one to three family house sale in Marine Park, NYC Department of Finance rolling sales, October 1, 2025 to September 30, 2026. Fast cash buyer: the 3.1 percentage points discount from NBER working paper 28252 and Opendoor’s 2021 fee of 5%. Investors: the 50% to 70% range Opendoor cites. Commission is negotiable; 5% is only an example. Taxes: state 0.4% plus city 1% or 1.425%. Attorney fees, other closing costs and your mortgage payoff come out of every route, so they are left out. The two investor rows show both ends of that price range. The fast cash buyer row stacks the study’s price discount and the fee, so treat it as the low end; if part of the fee is already in the discount, the gap is smaller.
The listing route also has costs the table does not show: time on the market, showings, and any repairs a buyer asks for. Price those honestly before you decide.
How to check a cash buyer in New York
Check every cash buyer the same way. Deed theft is real, and nearly half of New York City’s complaints came from Brooklyn.
From the New York Attorney General
New York City received around 3,000 complaints about deed theft between 2014-2019, 45 percent of which came from Brooklyn.
Office of the New York State Attorney General, January 2020.
Before you sign a cash offer
Get it in writing
A written offer with the price, the closing date and every fee, and proof the buyer has the money.
Hand it to your attorney
Your own attorney reads the contract before you sign anything, including any deed or power of attorney.
Know the do-not-solicit zone
Part of Brooklyn (Community Board 17) is a state cease-and-desist zone. Owners there can register so brokers stop soliciting.
Sign up for deed alerts
NYC Finance offers property and deed alerts, so you hear when a document is recorded on your home.
NY Department of State, NY Attorney General, NYC Department of Finance.
- Behind on your mortgage? New York’s home equity theft law covers sales by owners who are two months or more behind or in foreclosure. You can cancel a covered contract “until midnight of the fourteenth business day following the day on which the equity seller and equity purchaser sign a covered contract.”
- Free help: the Attorney General’s Homeowner Protection Program is at 855-466-3456.
- Deed alerts: NYC Finance’s advice is “Sign up for property and deed alerts.” Then you hear about any document recorded on your home.
How the selling process works with a cash buyer, and how fast it closes
A cash buyer makes an offer to buy your house, you sign a contract through your attorney, and you close on a date you pick. There is no buyer mortgage, so there is no bank appraisal or loan approval to wait on.
Opendoor’s Brooklyn page sums up the pitch: “Get an instant offer, choose your close date, skip repairs.” You still pay your own attorney and both transfer taxes.
Why am I getting so many cash offers for my house?
Investors reach owners by letter, text and phone, hoping to buy below market value.
Part of Brooklyn’s Community Board 17 is a state cease-and-desist zone. Owners there can put their name on a list, and brokers may not solicit a listing from anyone on it.
Where The Behfar Team fits
We are not a cash buyer, and we do not buy houses. We help owners sell a house in Midwood, Madison and Marine Park on the open market.
If you have a cash offer in hand, we will show you what your house would likely sell for on the market before you sell your home, so you can compare real numbers. If cash is the better deal for you, we will tell you that too. See how we sell a Brooklyn house.
Questions sellers ask about cash offers
Is it worth getting a cash offer on a house?
It can be, when selling your house fast, or as it stands, matters more to you than the price. Get a cash offer and a market value side by side, then decide with real numbers.
How much do you get for a cash offer on a house?
Usually less than a listed sale. One study of other cities found fast cash buyers paid 3.1 percentage points less than similar listed homes. Opendoor says “we buy houses” investors often target 50% to 70% of market value.
How does a cash offer work on a house?
The buyer offers a price with no mortgage. You sign a contract through your attorney and close on the date you choose, often without repairs or showings.
Why am I getting cash offers for my house?
Investors contact owners whose homes they hope to buy below market. Part of Brooklyn is a state cease-and-desist zone, where owners can register to stop brokers soliciting their listing.
How do I know a cash buyer is real?
Ask for proof of funds and a written offer, and have your own attorney read the contract. Sign up for NYC Finance’s property and deed alerts.
Sources
- Buchak, Matvos, Piskorski and Seru, iBuyers: Liquidity in Real Estate Markets?, NBER working paper 28252.
- Opendoor, 2021 annual report (Form 10-K), service charge help page and Brooklyn page.
- New York State Attorney General, Deed theft and Protect Our Homes initiative.
- New York Real Property Law section 265-a; NY Department of State, Cease and desist zones.
- NYC Department of Finance, Deed fraud protection; rolling sales, Brooklyn, file dated October 13, 2026.
From The Behfar Team
We work from our office at 1524 East 23rd Street in Midwood and have closed 494 buyer and seller transactions. Our 142 Google reviews average 4.9 stars, and our agents speak six languages.
Got a cash offer? Compare it first
We will tell you what your house would likely sell for on the market, so you can weigh the offer against a real number. You can also call the office at 347-988-2526.
This is general information, not legal advice. Have your own attorney review any contract before you sign it.
