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 homeowners ditch repairs and choose cash buyers for a hassle-free sale in the North Star State!
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 Best Cash Home Buyers in Minnesota
1. Houzeo: Minnesota’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 Minnesota’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. Minnesota Home Guys
STATEWIDE INVESTOR NETWORK
Service Fee: NoneMinnesota Home Guys is a local cash buyer company that serves 23 locations in Minnesota. It helps homeowners to sell their property fast in its as-is condition.
- Service Fee: They do not charge any service fee or closing fee. However, your closing price is lower than the market price.
- Typical Offer: You will be offered a closing price of 30% to 70% of Fair Market Value (FMV)
- Eligible Properties: Minnesota Home Guys investors offer cash on all houses including the one that needs maximum repairs and cleaning.
- Closing Offer Terms: They usually close the deal within 7 days or whenever the home seller is ready.
👉 Our Take: Minnesota Home Guys will help you to sell your property fast with 30% to 70% of market value. However, if you want maximum profit on the closing price then consider listing on MLS.
- Instant Cash Offers: With Minnesota Home Guys, you can get a free, no-obligation offer for damaged properties.
- Multiple Offers: Your house can get multiple offers from their statewide vetted network of real estate investors.
- No Additional Fees: You need not pay closing costs. There are no undisclosed fees or hidden costs.
- No Repairs: No need to stage your home or worry about making repairs. Minnesota home guys can fix it all.
In our research, we came across some major drawbacks of Minnesota Home Guys:
- Lowball Cash Offers: You might get lowball cash offers between 30%- 70% of the property’s fair market value.
- Unreliable Customer Service: Since they have a state-wide network of real estate investors you cannot predict the behavior of your investor.
Minnesota Home Guys has 4.8 out of 5 stars with 145 reviews on Google Reviews.
» Minnesota Home Guys Reviews: Read our in-depth review on Minnesota Home Guys.
Minnesota Home Guys is a Minnesota-based real estate investors networking company with more than 40 years of experience. It can help you sell your house fast by attracting multiple cash offers from investors.
However, the customer service you receive will solely depend on your investor’s expertise.
3. HomeVestors
NATIONAL CASH BUYER
Service Fee: NoneHomeVestors is a nationwide network of real estate investors that operates independently. This company is the parent brand of We Buy Ugly Houses.
- Typical Offer: You may get 50% to 70% of the Fair Market Value (FMV).
- Eligible Properties: HomeVestors buys properties that require structural repairs or are move-in ready. This includes townhomes, condos, multi-tenant properties, mobile/manufactured homes, and more.
- Closing Offer Terms: HomeVestors offers a flexible closing date and can sometimes close in as little as 30 days.
- Service Fee: None.
Here are some of the benefits that you get with HomeVestors:
- Fast Cash for Distressed Homes: HomeVestors investors make fast cash offers, regardless of your property’s condition. The initial offer is based on comparable properties in the area and housing market trends.
- Near Nationwide Coverage: HomeVestors has 1,000 independently owned franchisee offices in 45 states.
- Zero Service Fees: HomeVestors doesn’t charge any service fee when you sell your property for cash.
In our research, we have found certain drawbacks of HomeVestors:
- Lowball Cash Offers: HomeVestors may extend an offer that is below your home’s Fair Market Value. This is lower than what you could get on the open market.
- Inconsistent Quality of Service: With HomeVestors, your house is sold to a local investor. The service quality will differ based on that investor’s franchisee.
- Aggressive Marketing: Once you show interest in the services of HomeVestors, they may be harrassed with endless mails, calls, and in-person visits.
HomeVestors has 1.44 out of 5 stars with 30+ reviews on Better Business Bureau.
HomeVestors Reviews: Read this review to get an idea of how the franchise-based model of the company works.
HomeVestors specializes in purchasing homes that require renovation and repair from owners who need a fast sale. It acquires homes at a lesser price, renovates them, and then sells them.
The company has over 1,000 franchises, which gives it a broad outreach in the market.
4. We Buy Ugly Houses
NATIONWIDE COVERAGE
Service Fee: NoneWe Buy Ugly Houses is a well-known cash home-buying company that helps homeowners sell in any condition. It offers a fast, hassle-free sale without the need for repairs or staging.
- Typical Offer: 50% to 70% of your property’s Fair Market Value.
- No Closing Costs: You don’t have to pay any seller closing costs; it is covered by the company.
- Eligible Properties: Distressed properties with structural issues, homeowners facing relocation, homes with flawed mortgage financing, inherited homes, or homes in high-crime neighborhoods, etc.
- Service Fee: None
Here are some of the benefits that you get with We Buy Ugly Houses:
- Sell Your Home As Is: You can save thousands in repair costs by selling your distressed home.
- Quick Closing Timeline: Once you accept the offer, you can sell your house within 2 weeks.
- Save on Minor Repair Costs: When you sell your house for cash, you don’t incur upfront costs to fix, prepare, or stage your house.
In our research, we have found certain drawbacks of We Buy Ugly Houses:
- Lowball Offers: Cash offers typically range from 50% to 70% of a home’s Fair Market Value, based on condition and location.
- Limited Negotiation: We Buy Ugly Houses extends “take-it-or-leave-it” offers. You can try to negotiate, but usually, they won’t budge.
- 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 4.9 out of 5 stars from 90+ reviews on Google.
» 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: NoneWe 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.
Top “We Buy Houses in Minnesota” Companies Near You
| 1. Minneapolis, MN | We Buy Houses for Cash in Minneapolis, MN |
Are Companies That Buy Houses for Cash in Minnesota 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 MN. However, be sure to read company reviews and seller testimonials to find a legitimate cash buyer.
3 Types of Companies That Buy Homes in Minnesota
- We Buy Houses for Cash Companies: Cash buyers like HomeVestors and Minnesota Home Guys purchase distressed homes, typically paying 30% to 70% of their FMV.
- iBuyers: iBuyers, such as Opendoor and Offerpad, 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 Minnesota
Not sure how to sell your home for cash in Minnesota? 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 Minnesota Pay?
Minnesota 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 $342,900 home in Minnesota. With a traditional cash home buyer, you could get just $240,030. 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% | $240,030 |
| iBuyer | 5% | 80% | $274,320 |
| Houzeo | $199* | Up to 100% | $342,701 |
» Houzeo Reviews: Find out why Houzeo is Minnesota’s best cash buyer marketplace.
Pros and Cons of Cash Home Buyers in Minnesota
Given that more sellers are opting for cash buyers in Minnesota, 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 Minnesota 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: Minnesota 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 Minnesota. Always check the terms, or you could be out 6.25% to 9%!
Common “We Buy Houses for Cash” Scams 🚩
If any Minnesota 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 Minnesota
- Flat Fee MLS Services: You can get up to 100% of your home’s FMV with a Minnesota 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. Minnesota 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 Minnesota charge between 0.5% to 2.5% as commission.
Should You Sell to Cash Home Buyers in Minnesota?
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.
