Over 30% of all homes were bought with cash in Q2 of 2024. Detroit topped this list with 38.9% of cash sales, followed by Warren at 32.1%. This shows that cash is still king in the Wolverine State.
Cash buyers offer a fast, as-is sale, often closing within 7 days. But which cash buyers will get you 100% of your home’s Fair Market Value? See our rankings below to find out and keep thousands in your pocket!
Reviews: 7 Top Cash Home Buyers in Michigan
1. Houzeo.com: Michigan’s #1 Cash Home Buyer Marketplace
Max Exposure to Cash Buyers
Listing Fee: $3994.9/5
Houzeo 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.
- Fee: Houzeo does not charge any undisclosed closing fee.
- $399 + $350 at Close: 6-month MLS listing, 24 photos
- $399+0.5% at Close: Maximum photos, premium yard sign
- $429+0.5% at Close: Pricing assistance, contract review, seller disclosures, licensed broker assistance
- $449+1% at Close: Virtual full-service with licensed broker, offer negotiations
- Typical Offer: Up to 100% of your property’s Fair Market Value.
- Eligible Properties: On Houzeo Marketplace, you can sell your house as is.
- Closing Offer Terms: You can specify your preferred closing date and the closing offer terms.
👉 Our Take: For sellers looking to maximize their cash offers, we recommend Houzeo’s Gold plan. You can access Houzeo’s advanced features to negotiate the best terms for your cash offer.
» 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! All fees are disclosed upfront, so there are no Houzeo hidden fees.
- Home Value Estimator: Houzeo’s home value estimator can get you a quick and free estimate of your property’s market value in 30 seconds.
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. Jay Buys Detriot
Local Cash Buyer
Service Fees: None4.8/5
Jay 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.
3. Connect Home Buyers
Good Coverage
Service Fees: None4.9/5
Connect 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.
4. We Buy Ugly Houses
NATIONWIDE COVERAGE
Service Fee: None2.6/5
We Buy Ugly Houses is a well-known cash home-buying company that helps homeowners sell their houses fast. It offers a fast, hassle-free sale without the need for repairs or renovations.
- Sell at $0 Commission: You can sell your home with a few photos and a basic property description without paying any agent commission.
- No Closing Costs: You don’t have to pay any closing costs as the company pays them.
- Typical Offer: 50% to 70% of your property’s fair market value.
👉 Our Take: We recommend We Buy Ugly Houses for a quick and hassle-free sale. You can negotiate the price for your home and close the deal without closing fees.
- Sell Your Home As Is: You can save thousands in repair costs by selling your distressed home as is.
- Cash Offer in Any Condition: You can get a cash offer, no matter what shape your home is in.
- Quick Closing Timeline: Once you accept the offer, you can sell your house within 2 weeks.
- Low Ball Offers: Cash offers are typically 50% to 70% of your home’s fair market value, depending on its condition and location of the house.
- Limited Negotiation: You might have less room to negotiate the final offer.
- Not Ideal for High-Value Homes: This option may not be best for homes in high-demand areas where you could get more by listing on the MLS.
We Buy Ugly Houses is rated 2.6 out of 5 stars on Yelp
» We Buy Ugly Houses Reviews: Read this in-depth review to learn more about them.
We Buy Ugly Houses operates as a franchise under its parent company, HomeVestors. Each franchisee is independently owned and operated. This leads to variations in service quality and customer experience across different locations nationwide.
Further, if your home requires extensive repairs, you may just 30% to 50% of your home’s fair market value.
5. We Buy Houses
QUICK AND EASY SALES
Service Fee: None1/5
We Buy Houses is a network of pre-vetted real estate investors. Each investor is thoroughly screened before being authorized to operate independently.
- Service Fee: None
- Typical Offer: 50% to 70% of the property’s fair market value.
- Eligible Properties: Distressed properties with structural issues, homeowners facing relocation, flawed mortgage financing, inherited homes, or homes in high-crime neighborhoods.
- Closing Offer Terms: We Buy Houses provides a flexible closing date, typically 7 to 14 days. The offer terms are not flexible.
👉 Our Take: We Buy Houses is an ideal option to sell your home quickly without the hassle of repairs. However, be prepared to settle for a lowball offer.
- Fast Cash Offers: You will typically receive the initial cash offer within 2 days.
- Zero Service Fees: We Buy Houses doesn’t charge any service fee in exchange for the convenience of selling your home for cash.
- Fast Closing: We Buy Houses can complete the entire home sale process in just 7 days after you accept their offer.
- Zero Repair Costs: When selling to We Buy Houses, you don’t need to prep the house or worry about repairs.
- Service Quality Varies: We Buy Houses operates on a franchise model. It means service quality can vary depending on the location.
- Limited Scope for Negotiation: We Buy Houses extends “take-it-or-leave-it” offers. You can try to negotiate, but usually, they won’t budge.
- Unsolicited Calls: Some reviews mention receiving unsolicited calls and texts from the company.
» We Buy Houses vs. Houzeo: Learn why Houzeo is better than “We Buy Houses”.
We Buy Houses has 1 star out of 5 on Better Business Bureau from only 4 customer reviews.
» We Buy Houses Reviews: Read this comprehensive review to learn more about the company.
We Buy Houses is a real estate investment company specializing in buying distressed properties at a discount across the country. You can sell your home without spending a dollar on repairs. However, you will be forced to settle for an offer that’s 50% to 70% of your home’s value.
This cash buyer operates on a franchise model. So, the quality of service you receive may differ based on your location.
6. ASAP Cash Home Buyers
NATIONWIDE COVERAGE
Service Fee: None4.8/5
ASAP 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 in 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.
» Pros and Cons of Asap Cash Home Buyers: Must read before you make a decision.
- 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 clearly outline all their fees upfront.
- Purchase of Distressed Home: You can sell your home as-is to the cash buyer. This would save you 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 knowledgeable and responsive agents.
- 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 have 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.
7. House Cashin
CASH HOME BUYER
Service Fees: None4.7/5
House 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. They purchase distressed properties at a discount, renovate them, and then sell them for profit.
3 Types of Companies That Buy Homes in Michigan
- We Buy Houses for Cash Companies: They typically extend offers for distressed homes and pay 30% to 70% of the properties’ FMV. These companies include popular names like House Cashin and ASAP Cash Home Buyers.
- iBuyers: They offer instant cash offers that are 70% to 80% of the FMV. Additionally, Opendoor has strict eligibility requirements, limiting the types of homes they purchase (although they purchase houses only in Detroit).
- Home Trade-In Services: These cash home buyers give you an advance on your cash offer before you move out, ensuring a smooth and hassle-free transition. Companies like Knock or Orchard provide this service.
4 Steps to Sell Your Home for Cash in Michigan
If you’re wondering how to sell your home for cash in Michigan, here’s what you need to do:
- Find a Cash Home Buyer: Research all companies buying houses for cash in your area. Choose one based on client testimonies and positive online reviews.
- Request an Offer: Once you’ve selected a cash buyer, request an offer on their website. You must provide information such as property type, number of bedrooms and bathrooms, asking price, etc. You will also have to give the reason for the home sale.
- Schedule a Home Visit: A representative from the company will come to inspect your house. They will then give you their final cash offer.
- 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 “We Buy Houses for Cash in Michigan” Companies Pay?
Cash buyers in Michigan usually offer between 30% to 70% of a home’s After-Repair Value. The offer also depends on factors like the company you’re selling to, their service fees, etc. The After-Repair Value is calculated as follows:
After-Repair Value (ARV) = Property Purchase Price (PPP) + Cost of Repairs (COR)
Imagine if you’re selling your $271,600 home in Michigan. With a traditional cash home buyer, you could get just $190,120. But, with a cash buyer marketplace like Houzeo, you only pay $749 and get up to $270,851!
| Service Provider | Service Fee | Potential Offer (of the ARV) | Actual Offer Amount |
| Cash Buyer | None | 70% | $190,120 |
| iBuyer | 5% | 80% | $217,280 |
| Houzeo | $749* | Up to 100% | $270,851 |
📢 NAR Settlement Saves Sellers Thousands in Commission
The NAR Settlement went into effect on August 17, 2024. Buyer agent commissions can no longer be offered on the MLS. This means sellers will save thousands! But it also means there’s a lot more compliance and litigation risks.
Here’s what this means for you:
- Sellers Can Save Thousands in Commissions: You will likely pay much less than the traditional 3% buyer agent commission. That’s because buyer agent commissions will be negotiated twice: Once when buyers engage buyer agents, and again when sellers review offer contracts.
- Seller Priority #1 Will Be Paperwork (to Mitigate Compliance & Litigation Risks): Buyer agents mitigate all types of risks. From seller disclosures, offer contracts, contingencies, inspections, repair requests, appraisal, and closing – Buyer agents keep the paperwork tight. Their state licensing authorities, Realtor associations, and MLS’ audit paperwork compliance. Without buyer agents, sellers will have to learn and adapt. Or risk expensive litigation.
- Negotiations Can Now Feel Like Haggling: Buyer agent commissions will now be part of offer contracts and buyer agency agreements. Buyers may ask sellers to include commissions in the form of seller concessions. That means home buyers and sellers alike will be negotiating commissions. Sellers will need expert licensed brokers to help them with these negotiations.
- Buyer Agent Commissions Can Be Offered Offline: Buyer agent fees can still be offered outside of the MLS. They just cannot be advertised on the MLS.
Pros and Cons of Companies That Buy Houses for Cash in Michigan
✅ Pros
- Fast Cash Sale: Typically, sellers must list on MLS in Michigan and wait for potential buyers. “We Buy Houses for Cash” companies offer a cash deal 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 as per your convenience.
- Zero Service Fees: Michigan’s cash house buyers don’t charge any service fee. Their net profit is enough to sustain their fix-and-flip model.
❌ Cons
- Lowball Cash Offers: Cash companies that buy homes in Michigan typically pay 30% to 70% of market value, deducting repair and resale costs.
- Non-Negotiable Deals: When dealing with cash home buyers, the offer is usually take-it-or-leave-it.
- Possible Closing Costs: Some buyers may require you to pay seller closing costs, so always review terms carefully.
Alternatives to Companies That Buy Houses for Cash in Michigan
- List Your Home With a Flat Fee MLS Service: You can get up to 100% of your home’s market value with a Michigan Flat Fee MLS listing. Your home is visible to multiple cash buyers and investors, increasing your offers.
- Hire a Traditional Full-Service Realtor: When you opt for a full-service Michigan Realtor, you will have to shell out a 5% to 6% commission. That’s $16,296 on a $271,600 home gone!
- List With a Discount Real Estate Broker: They are real estate professionals who offer the same services as traditional agents but for a lower fee. Discount real estate brokers in Michigan charge between 0.5% to 2% as fees.
- Sell “For Sale By Owner”: In a FSBO sale, you’ll have to opt for “DIY” marketing strategies like using FSBO signs and word of mouth. But your listing won’t be on Zillow, Trulia, and Realtor.com. Meanwhile, paid For Sale By Owner sites in Michigan will help you list on the MLS and increase exposure.
Should You Sell to Companies Buying Houses in Michigan?
Yes, but only if you want to sacrifice thousands of dollars. By accepting an offer from a single cash buyer, you may receive only 30% to 70% of your home’s value, sacrificing equity for a quick sale.
If you want the best of both worlds, a cash buyer marketplace is your best bet. Within 24 hours, your home will be visible to multiple local and national cash buyers, boosting your chances of competitive offers.
Frequently Asked Questions
Which is the best company that buys houses for cash?
Houzeo is the best cash marketplace for selling homes for cash in Michigan. Companies like Opendoor and HomeVestors have extended offers on homes listed on Houzeo.
How can you sell to companies that buy houses for cash?
To sell to companies that buy houses for cash, research local cash buyers in Michigan or use a cash buyer marketplace. Submit your home’s details, get an offer within 24-48 hours, and if you accept, close the deal in as little as a week.
How fast can I sell my Michigan house?
You can sell your house in 7 to 30 days when selling to cash buyers in Michigan.
» How to Sell a House Fast in Michigan: Learn how you can get your home sold in no time in the Wolverine State.
What to look for when choosing cash home buyers?
Look for legitimate cash home buyers that have a great reputation in the industry. They should have positive customer reviews on platforms like Google that highlight their transparent processes and fair offers.
