How does a cash offer for my house work?

You give us the address and a few details about the home. Within 24 hours we send a written cash offer based on a clear formula — roughly 70% of after-repair value minus our estimated repair cost. If you accept, we pick a closing date (as few as 7 days), and a Virginia title company wires you the funds at closing. No repairs, no showings, no commissions.

How much will I get if I sell my house for cash?

Typically 70-75% of what your home would sell for fully repaired and listed on the MLS, minus our estimated repair budget. The exact number depends on your home's after-repair value, the work it needs, and current Hampton Roads market conditions. We always walk you through the math line by line so you can see exactly how we got there.

How long until cash hits my account after I accept?

Closing happens 7-21 days after you accept, depending on the timeline you want. At closing, the title company wires the funds to your account or hands you a certified check that day. There's no financing contingency, no appraisal contingency, no waiting on a bank — so once we sign, the closing date is the closing date.

Is the cash offer the same as the price I keep, or are there fees?

The offer is the amount you walk away with. We pay all standard closing costs. There are no agent commissions because we're buying directly, not listing. No inspection deductions after the fact (we know what we're buying when we make the offer). No hidden fees.

What's the difference between a cash buyer and a wholesaler or iBuyer?

A wholesaler doesn't actually buy your house — they put it under contract and try to assign that contract to a real investor for a fee. Many deals fall through. An iBuyer (Opendoor, Offerpad) is an out-of-state company that gives you an algorithm-generated price, then deducts repair costs and service fees after inspection — and they don't operate consistently in Hampton Roads. We are the actual buyer. We close with our own money through Friend in Realty LLC. We don't assign, we don't reprice, we don't wholesale.

Hampton Roads cash home buyerPortsmouth

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We buy houses in Portsmouth for cash.

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9 days

Average close

24 hrs

Offer in hand

Or call (757) 347-8487

Written cash offer within 24 hours · Close in as few as 7 days

If you've been searching for a cash home buyer in Portsmouth, you've probably talked to out-of-town investors who don't understand that Olde Towne and Cradock have completely different price points. We do it differently in Portsmouth: a written cash offer with the math shown line by line, from a team that has bought and sold hundreds of Portsmouth houses since 1999 — including in ZIPs national buyers won't touch.

A real written offer on your Portsmouth house.

Within 24 hours of walking your Portsmouth property, we send a written purchase agreement with the price, the closing date, and our proof of funds. You can show it to your attorney, your spouse, or anyone else before signing. We don't quote a range over the phone and then reprice you at inspection. The number you see is the number we close on.

Cash means a wire — closed at a Portsmouth-area Virginia title company.

"Cash" doesn't mean we show up with a briefcase. It means there's no bank, no mortgage underwriter, and no appraiser standing between you and the money. Closing on your Portsmouth house happens at a Virginia title company you can walk into. The title company wires the funds to your account that day.

The offer is what you keep.

We pay all standard Portsmouth closing costs. No agent commissions (we're buying your house directly, not listing it). No "service fees" deducted after the fact. No surprise repair credits at the closing table. The cash offer you sign is the amount the title company sends you.

Timeline honesty

Sell your Portsmouth house fast — including the historic Olde Towne homes national buyers won't touch.

Search "sell my house fast Portsmouth" and you'll find plenty of investors happy to promise 7 days. The honest answer: our fastest Portsmouth close was 8 days — a Norfolk Naval Shipyard PCS seller in Cradock. Typical range is 9-14 days from signed offer to wired funds. What gates the timeline is title work, not us.

Portsmouth has more title complications than most Hampton Roads cities: layered ownership histories in Olde Towne, code liens from long-vacant properties, back taxes from estate holds. We've closed Portsmouth deals with $30K+ in liens the seller couldn't pay upfront — the title company clears them at closing out of the sale proceeds. That doesn't add weeks to the close if we know about them upfront.

If you have hard PCS orders from Norfolk Naval Shipyard or NMC Portsmouth (both physically in Portsmouth), tell us the report date and we'll tell you honestly whether we can hit it. We turn down deals we can't close on time rather than promise a date and miss.

If speed isn't the main driver and your Portsmouth house is move-in ready in Churchland or Sterling Point, listing traditionally will usually net more. Barry is a licensed VA agent through LPT Realty — we'll tell you honestly which path pays more, and we can handle either.

Local Portsmouth cash home buyers

The cash home buyers in Portsmouth who know Norfolk Naval Shipyard is actually here.

Most "cash home buyers Portsmouth" results are Norfolk-area investors treating Portsmouth like an afterthought. Norfolk Naval Shipyard is physically inside Portsmouth (not Norfolk, despite the name), Naval Medical Center Portsmouth is here, and Portsmouth housing stock — Olde Towne row houses, Cradock 1920s cottages, Prentis Park bungalows — is a fundamentally different market from Norfolk. We treat it as its own market because it is one.

Barry Jenkins has bought and sold hundreds of Portsmouth houses since 1999 across every ZIP from Olde Towne to Churchland. We know Olde Towne's historic district rules on exterior changes and factor them into our number instead of using them as an excuse to lowball you at inspection. We know Cradock's aging plumbing patterns. We know which streets in Park View have foundation issues from the fill.

Proof of funds within an hour. Closing at a Virginia title company — we can use one right in Portsmouth if you prefer. No assignment fees, no funding-partner ghosting, no repricing after we walk the property. Cash means a wire on the day we said we'd close.

That's what "cash home buyers in Portsmouth" should mean when you're the seller: local expertise on a market national buyers ignore, and follow-through on every commitment.

How the math works in Portsmouth

How we calculate your Portsmouth cash offer.

Every Portsmouth cash offer we make is built from the same formula. We share it openly because we'd rather you understand the number than feel pressured by it.

The formula: After-Repair Value (ARV) × 70% − estimated repairs − holding & closing costs = your cash offer.

A real Portsmouth example. A two-story historic Portsmouth home in Portsmouth's Park View neighborhood. Comparable updated Portsmouth homes are selling around $245,000. The home needs a roof, HVAC replacement, and cosmetic updates — about $38,000 in work. Holding costs and standard closing costs add another $8,500 before we resell.

$245,000 ARV × 70% = $171,500
− $38,000 repairs = $133,500
− $8,500 holding & closing = $125,000 cash offer to you

The 70% multiplier covers our profit margin and the risk we take. We have to budget for surprises — a hidden mold issue, a tax lien, a slower-than-expected Portsmouth resale. If everything goes perfectly we make a fair return. If we hit problems, the math still works — for us and for you.

Portsmouth market context: Portsmouth median is around $249K citywide — the most affordable of the Hampton Roads seven cities. Olde Towne, Cradock, and Port Norfolk offer historic character; Churchland and Western Branch offer suburban feel. We pull comps from your specific Portsmouth neighborhood, not a citywide average.

When we walk you through your specific Portsmouth cash offer, we share the comps we used, our repair estimate, and the holding cost assumption. If you disagree with any line, we talk about it. We've adjusted offers when Portsmouth sellers showed us comps we missed or proved a repair was lighter than we estimated.

Portsmouth situations we buy in

Why Portsmouth sellers call us.

Norfolk Naval Shipyard is physically located in Portsmouth (not Norfolk), and Naval Medical Center Portsmouth sits right in the city. Portsmouth PCS turnover runs constant, and older Portsmouth housing stock near the shipyard often needs work.

PCS from Norfolk Naval Shipyard or NMC Portsmouth

The shipyard is physically in Portsmouth, and PCS orders force fast Portsmouth sales year-round. We close in time for any report date.

Older Olde Towne or Park View historic homes

1800s and early 1900s Portsmouth homes with layered systems, foundation questions, and historic-district requirements. We know the constraints and buy them anyway.

Cradock or Prentis Park properties needing work

1920s-40s Portsmouth housing stock with cosmetic issues, aging plumbing, or asbestos concerns. We buy in current condition.

Inherited Portsmouth property

Your family's Portsmouth house — often decades of belongings, sometimes a probate hold, always emotional. We handle the coordination and close at a Portsmouth-area title company.

Neighborhoods we actively buy in across Portsmouth: Olde Towne, Cradock, Port Norfolk, Churchland, Park View, and Sterling Point. If your Portsmouth property is in a different area, we still want to hear from you — we cover every Portsmouth ZIP.

"Most cash buyers won't show you the math. We do — line by line, before you ever commit. If the offer doesn't make sense, you should be able to see why."

Barry Jenkins · Founder · Licensed VA Real Estate Agent · LPT Realty

Portsmouth cash offer FAQ

Portsmouth sellers ask us these questions the most.

How fast can you close on a Portsmouth house?

Typical Portsmouth close is 9-14 days. If you're PCSing from Norfolk Naval Shipyard or NMC Portsmouth and need a hard date, tell us the date and we'll tell you honestly whether we can hit it.

Do you buy Portsmouth houses in Olde Towne, Cradock, or Park View?

Yes — those are three of our most active Portsmouth neighborhoods. Historic districts have specific rules on exterior changes; we know them and factor them into our cash offer instead of using them as an excuse to reprice you at inspection.

What about older Portsmouth houses with lead paint or asbestos?

Common in Portsmouth housing stock built before 1978. We buy Portsmouth houses with disclosed environmental issues regularly. Traditional lenders often kill these deals; cash deals don't have that problem.

Will your Portsmouth cash offer beat listing traditionally?

In Portsmouth, this depends heavily on neighborhood and condition. Olde Towne and Churchland move-in-ready homes usually net more via listing. Cradock, Prentis Park, and Park View homes needing work often net similar or better via cash once you factor in repair credits, longer time-on-market, and financing fall-throughs. Barry is a licensed VA agent (LPT Realty) — we'll run both numbers and show you the honest comparison.

Do you handle Portsmouth title issues, tax liens, or code violations?

Yes. Portsmouth code violations, tax delinquencies, and title clouds are three of the most common reasons Portsmouth sellers call us instead of a traditional agent. Our title company handles the payoffs out of the sale proceeds at closing.

Service area

We buy Portsmouth houses across every neighborhood — Olde Towne, Cradock, Park View, Churchland, and Sterling Point included. We also cover the other six Hampton Roads cities.

Other Hampton Roads cities we cover: Norfolk · Virginia Beach · Chesapeake · Suffolk · Newport News · Hampton. We also buy in the Outer Banks NC, Northern Neck VA, and Virginia's Eastern Shore — call us if your property is just outside Hampton Roads.

Ready when you are

Get your cash offer. No obligation.

Takes 30 seconds to tell us about your home. You'll have a written cash offer within 24 hours. If you'd rather talk first, call — we answer the phone.

Get my cash offer Or call (757) 347-8487

Required Disclosures

Dual role: Barry Jenkins is a licensed Virginia real estate agent with LPT Realty. Cash offers presented through this site are made by Friend in Realty LLC, a company in which Barry has an ownership interest. When acting as a direct purchaser, Barry is acting as a principal in the transaction — not as your agent — and does not owe you fiduciary duties in that capacity. Sellers always retain the right to list with the agent of their choice, including listing with Legacy Home Team on the open market.

Brokerage: Legacy Home Team is a team of real estate professionals affiliated with LPT Realty, LLC. Our brokerage office is located at 1545 Crossways Blvd, Suite 250 #242, Chesapeake, VA 23320.

Equal Housing Opportunity. All offers are presented in writing. You are under no obligation to accept any offer. Read our full "How We Work With You" disclosure.