In Q2 2024, over 30% of US homes sold for cash. A cash sale means no repairs, no delays, and a quick 7-14 day closing. No wonder Michigan homeowners ditch repairs and choose cash buyers for a hassle-free sale!
But here’s a downside! Cash buyers offer just 30% to 70% of your home’s Fair Market Value. Don’t stress—just enter a cash buyer marketplace. Here you can receive offers that can reach up to 100% of your home’s value!
Reviews: 5 Top Cash Home Buyers in Michigan
1. Houzeo.com: Michigan’s #1 Cash Home Buyer Marketplace
MAX EXPOSURE TO CASH BUYERS
Listing Fee: $199Houzeo is the best option if you’re looking for multiple cash offers. Your MLS listing will be exposed to local and national cash buyers, increasing the number of offers you receive.
- Pricing:
- Silver Plan – $199: 6-month MLS listing, 24 photos.
- Gold Plan – $249: Maximum photos, contract review, seller disclosures, licensed broker assistance.
- Platinum Plan – $299: Everything in Gold with a 12 month listing and virtual full-service with licensed broker.
» Houzeo Reviews: Find out why Houzeo is one of America’s best cash buyer marketplaces.
Houzeo is America’s #1 cash buyer marketplace because of 5 reasons:
- Max Exposure: Houzeo’s packages give you access to the MLS and 100s of websites like Zillow, Realtor.com, Redfin, etc.
- 5-Star Customer Service: Houzeo’s customer service desk is available 6 days a week. Chats and emails are open 7 days a week.
- 100% Online: Houzeo is high-tech. For you, this means easy listing, fast changes, online showings, and online offers.
- No Listing Commission: You’ll pay just a small flat fee to list on MLS. You get to bypass the 3% listing agent commission!
There are no dealbreakers with Houzeo.
» Houzeo Pros and Cons: Read the advantages and disadvantages of choosing Houzeo to sell your home for cash.
Houzeo is rated 4.9 out of 5 stars by thousands of home sellers on Google & Trustpilot.
With Houzeo, your home gets maximum exposure to Michigan’s best cash home-buying companies and individual investors. You could get multiple competitive offers for your home, driving up its final sale price.
2. Connect Home Buyers
Good Coverage
Service Fees: NoneConnect Home Buyers specialize in providing homeowners with a quick, simple, and hassle-free option to sell, ensuring a free cash offer in four hours or less. They buy houses in spite of any conditions and situations.
- Service Fee: None
- Typical Offer: 50% to 80% of Fair Market Value (FMV)
- Eligible Properties: They buy all properties, including ones which have been recently inherited, those going through foreclosure, behind on payments or taxes, or that are outdated.
- Closing Offer Terms: They offer flexible closing terms, anywhere between 7 to 30 days.
👉 Our Take: Connect Home Buyers provide complete transparency in the selling transaction. However, they only make offers way below the fair market value.
- Quick Offer: You can get a preliminary offer within 24 hours of contact.
- Flexible Closing: You can close in as little as two weeks or at any date of your choice.
- Personalized Assistance: The management provides personal guidance that caters to your professional needs.
- Sell As-Is: Connect Home Buyers will definitely buy your property no matter what the condition is.
- Wholesale Real Estate Company: They are essentially wholesalers. Wholesalers may have specific criteria for the type of property that they are interested in purchasing. If you have issues working with wholesale real estate companies, it is suggested that you look elsewhere.
- Late Response Occasionally: They may not be prompt to inspect properties, and sellers may have to wait for a while before hearing from them.
- Connect Home Buyers is Not 100% Online: Connect Home Buyers has a limited tech stack. This means a lot of processes, like requesting a counteroffer or managing inspections, will be offline and manual. They don’t even have a mobile app.
Connect Home Buyers has 4.9 out of 5 stars with 27 reviews on Google Reviews.
» Connect Home Buyers vs. Houzeo: Find out which is the better choice for you.
Connect Home Buyers is a wholesale real estate company founded by Brett and Arin Riggins in 2017. They have good reviews as they provide offers on your home which can go up to 80% of the home’s FMV.
They specialize in acquiring recently inherited properties, but also have experience in dealing with foreclosure, relocation etc.
3. Jay Buys Detriot
Local Cash Buyer
Service Fees: NoneJay Buys Detroit is a real estate solutions company that buys as-is houses for cash. They buy houses in any condition whether they are unfinished construction or inherited property.
- Service Fee: None
- Typical Offer: 50% to 70% of the property’s Fair Market Value (FMV)
- Eligible Properties: Houses facing foreclosure, vacant properties, unwanted inherited houses, quick divorce settling, homes looking to downsize and more.
- Closing Offer Terms: They offer flexible closing terms anywhere between 7 to 30 days.
👉 Our Take: Jay Buys Detroit is a local cash home buyer with good customer reviews. It has a proven track record, and takes into account all the unique features of a house before making its offer.
- Instant Cash Offer: You can get a preliminary cash offer within 24 hours.
- Speed of Transaction: In case you are in a hurry to sell your home, they complete the sale within a matter of days.
- No Closing Costs: You need not pay any additional costs including closing costs.
- Quick Closing: You can close in as little as two weeks or at any date of your convenience.
- No-Obligation Offer: You can expect a no-obligation cash offer after a home inspection, no matter the condition of your house.
- Limited Coverage: Their service is limited mainly to the Detroit metropolitan area, and surrounding cities.
- Non-Negotiable Cash Offers: As an investor, they may not offer more than 70% of your property’s fair market value. Even if your property isn’t distressed, they will rarely budge on the offer price.
Jay Buys Detroit has 4.8 out of 5 stars from 35 reviews on Google Reviews.
» Jay Buys Detroit Reviews: » Read further to know the advantages and disadvantages of Jay Buys Detroit.
Jay Buys Detroit is a local cash home buyer company. It was founded and run by Jay Halliburton, a real estate investor. They mainly buy distressed properties, so the likelihood of you getting full home equity is less.
However, they have good customer reviews from clients due to their professionalism and good knowledge of the Detroit area.
4. ASAP Cash Home Buyers
NATIONWIDE COVERAGE
Service Fee: NoneASAP Cash Home Buyers, founded in 2013, offers quick and hassle-free home sales. It specializes in assisting homeowners who need to sell their property fast for cash.
- Service Fee: None
- Typical Offer: 50% to 70% of the Fair Market Value (FMV)
- Eligible Properties: The company buys properties that have structural issues, have bad mortgage financing, and are located in high-crime areas. They also offer cash for inherited houses and empty lots.
- Closing Offer Terms: You close the deal 3 weeks after accepting the offer. You also have the option to choose a closing date that suits your needs.
👉 Our Take: ASAP Cash Home Buyers is a good choice if you want to save on repair costs. However, you have to settle for a price that’s almost half of the home’s fair market value when you sell as is.
- Nationwide Coverage: The cash home buyer offers its services in all the 50 states of the U.S.
- Flexible Closing Date: You can choose a closing date that works best for you.
- No Hidden Costs: ASAP Cash Home Buyers mention all their fees upfront.
- Purchase of Distressed Home: You can sell your home as-is to save time and help close the deal faster.
- Varying Level of Service: ASAP Cash Home Buyers partners with independent investors nationwide. Therefore, there’s no guarantee that you will work with a knowledgeable and responsive buyer.
- Only Purchase Homes: ASAP Cash Home Buyers does not buy property interests like timeshares, hotels, or rental communities. Thus, if you want to sell other properties, you need to consider other options.
- Limited Negotiation: Since they have a streamlined process, it can result in fixed terms and conditions. This means you have less opportunity to negotiate on the offered price.
ASAP Cash Home Buyers has a rating of 4.8 out of 5 stars with 40+ reviews on Google.
» ASAP Cash Home Buyer Review: Read our in-depth analysis.
ASAP Cash Home Buyers was founded in Fort Lauderdale, FL. With over a decade of experience, they provide all legal and financial support such as consultations on how to fix current bad debts, encumbrances on your property, etc.
They work with a network of investors in every state. Your experience may differ based on the different investors or buyers at each place.
5. House Cashin
CASH HOME BUYER
Service Fees: NoneHouse Cashin is an online platform that connects home sellers to credible real estate investors and other parties. You can receive multiple cash offers on your property within 24 hours.
- Service Fee: None
- Typical Offer: 50% to 70% of Fair Market Value (FMV)
- Eligible Properties: House Cashin accepts all types of distressed properties, including damaged houses, inherited properties, homes facing foreclosures, etc.
- Closing Offer Terms: Once you accept an offer from an investor, they close within 7 days.
👉 Our Take: House Cashin is a company that connects homeowners with potential buyers. Since there are multiple offers, you can pick one at your convenience.
- Competitive Cash Offers: House Cashin can provide up to 5 no-obligation all-cash offers on your property within 24 hours.
- Nationwide Coverage: House Cashin offers its services in all 50 states and Washington D.C.
- Zero Service Charges: No commissions or closing costs.
- Selling As Is: You can save on repair costs and sell your house as is.
- Inconsistent Quality of Service: The offers made on your property via House Cashin are by local real estate investors. The service quality will differ based on the independent investor you are dealing with.
- Non-Negotiable Cash Offers: Although you receive multiple offers, no investor may offer more than 70% of your property’s fair market value. Even if your property isn’t distressed, they will rarely budge on the offer price.
House Cashin has 4.7 out of 5 stars on Google.
» House Cashin vs. Houzeo: Read further to know why Houzeo is better than House Cashin.
House Cashin is an online platform that connects home sellers with real estate investors interested in buying property. They offer their services across all states. With a single request, you can receive up to 5 cash offers from reputable real estate investors in 24 hours.
Once you choose from the proposed offers, the investor will close on your property within 3 to 30 days.
Top “We Buy Houses in Michigan” Companies Near You
| 1. Detroit, MI | We Buy Houses for Cash in Detroit, MI |
Are Companies That Buy Houses for Cash in Michigan Legit?
Yes, companies that buy houses for cash are legitimate and operate legally nationwide. In fact, the National Association of Realtors (NAR) validates cash buyers in the Wolverine State. However, be sure to read company reviews and seller testimonials to find a legitimate cash buyer.
3 Types of Companies That Buy Homes in Michigan
- We Buy Houses for Cash Companies: Cash buyers like House Cashin and ASAP Cash Home Buyers purchase distressed homes, typically paying 30% to 70% of their FMV.
- iBuyers: iBuyers, such as Opendoor, provide instant cash offers between 70% and 80% of the FMV. They have strict eligibility requirements, limiting the types of homes they purchase.
- Home Trade-in Services: Companies like Knock or Orchard offer cash for your home before you move out. This helps you buy your new house without any delay.
4 Steps to Sell Your Home for Cash in Michigan
Not sure how to sell your home for cash in Michigan? Just follow these 4 steps:
- Find a Cash Home Buyer: Research all local companies buying houses for cash and opt for one with great client testimonials.
- Request an Offer: Once you’ve selected a cash buyer, request an offer on their website. You’ll have to provide information like the property type, number of rooms, asking price, etc.
- Schedule a Home Visit: A company representative will then inspect your house. The final cash offer will be based on the outcome of this inspection.
- Close the Deal: If you’re happy with the offer, finalize the deal. Remember to get all the paperwork for selling a house without a Realtor verified by a real estate attorney.
How Much Do Cash Buyers in Michigan Pay?
Michigan cash house buyers usually offer between 30% to 70% of a home’s After-Repair Value. However, it depends on factors like the company you’re selling to, their service fees, etc. Here’s how the After-Repair Value is calculated:
After-Repair Value (ARV) = Property Purchase Price (PPP) + Cost of Repairs (COR)
Imagine if you were selling your $247,800 home in Michigan. With a traditional cash home buyer, you could get just $173,460. But on a cash buyer marketplace like Houzeo, you could get multiple offers, potentially driving your sale price to 100% of its FMV.
| Service Provider | Service Fee | ARV Estimate | Actual Offer |
| Cash Buyer | None | 70% | $173,460 |
| iBuyer | 5% | 80% | $198,240 |
| Houzeo | $199* | Up to 100% | $247,601 |
» Houzeo Reviews: Find out why Houzeo is Michigan’s best cash buyer marketplace.
Pros and Cons of Cash Home Buyers in Michigan
Given that more sellers are opting for cash buyers in Michigan, here are some pros and cons you must consider before you sell with them:
✅ Pros
- Fast Cash Offers: “We Buy Houses for Cash” companies extend offers within 24-48 hours.
- Flexible Closing: Cash buyers in Michigan close quickly and on your timeline. So you can sell your home anywhere between 7 days to 30 days.
- No Repair Costs: Most cash buyers purchase properties as-is. This eliminates the need for repairs, saving thousands of dollars.
❌ Cons
- Lowball Cash Offers: Michigan cash house buyers typically pay only 30% to 70% of a home’s FMV. So you leave a significant amount of your home’s equity on the table.
- Non-Negotiable Deals: Such cash offers are usually take-it-or-leave-it. There’s little to no room for negotiation, which limits your ability to secure a better offer.
- Possible Closing Costs: Some cash buyers might force you to pay seller closing costs in Michigan. Always check the terms, or you could be out 6.25% to 9%!
Common “We Buy Houses for Cash” Scams 🚩
If any Michigan cash home buyer extends an offer that seems to-good-to-be-true, it probably is. Stay alert, and don’t fall victim to the following scams.
- Bait-and-Switch Offers: Scammers present appealing offers and then change them later, hoping you’ll accept out of desperation. Always verify the terms before you sell your house for cash or accept an offer.
- Deed Fraud: Fraudsters can sell or mortgage your home without your consent using fake documents. Check customer testimonials and online reviews before you select a cash buyer.
- Loan-Flipping Scams: Some scammers may pressure you to sell your home fast for cash by offering loans that drain your equity. Always consult a trusted advisor before agreeing to any cash offer.
- Email Phishing: Scammers send fraudulent emails pretending to be agents, title companies, or lenders. They trick you into wiring money or providing personal details for fake services. Always confirm the authenticity of any cash offer for a home via a phone call.
» We Buy Houses Ripoff: Learn how to avoid falling victim to the scam.
Alternatives to Companies That Buy Houses for Cash in Michigan
- Flat Fee MLS Services: You can get up to 100% of your home’s FMV with a Michigan Flat Fee MLS listing service. Your home is visible to multiple cash buyers, increasing your offers.
- For Sale By Owner: In a FSBO sale, you’ll have to opt for “DIY” marketing strategies like using yard signs, word of mouth, open houses, etc. Michigan FSBO websites also limit your home’s exposure, which lowers your home sale price.
- Full-Service Realtors: They provide various services from listing to closing, but charge a hefty 5% to 6% commission.
- Discount Real Estate Brokers: They offer services like contract review and negotiation for a lower fee than traditional agents. Discount brokers in Michigan charge between 0.5% to 2.5% as commission.
Should You Sell to Cash Home Buyers in Michigan?
Yes, you can sell to cash buyers. But say goodbye to 30% to 70% of your home’s equity. That’s the price you pay for a quick sale. On the other hand, on a cash buyer marketplace, you can get multiple offers, sell fast, and potentially keep more money.
