5 Top We Buy Houses for Cash Companies in Duluth
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Joseph Gordon Associate EditorJoseph Gordon is an Associate Editor with HomeLight. He has seven years of experience reporting on the commercial real estate and insurance industries. He holds an MFA in Creative Writing from the University of San Francisco.
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
We Buy Houses companies are changing the game for homeowners looking to sell fast, offering all-cash deals for properties that need repairs. Whether you’re short on time, lack the funds for repairs, or simply don’t have the expertise, a cash offer for your property could be exactly what you need to get out of a tough situation with minimal effort.
This post will guide you through the ups and downs of selling your home to a cash-for-homes company, helping you weigh your options and make the right decision for you and your property.
Sell Your House Fast in Duluth With a Cash Offer
Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in 24 hours and close in as few as 10 days. No showings, no repairs, no open houses. Available to sellers throughout Duluth.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Duluth area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Duluth
Selling your Duluth home to a house-buying is a simple process, but there are a few steps you should be aware of. Here’s a quick step-by-step guide to how it works:
- Find a reputable company: Start by researching and selecting a credible cash-for-homes company that operates in Duluth. Look for reviews and testimonials to ensure their reliability.
- Submit your property details: Provide the company with details about your home. This usually involves filling out a form on their website or making a direct phone call.
- Receive an offer: The company will assess your property, often with a quick visit, and then present you with a cash offer. Remember, these offers are usually non-negotiable.
- Review the offer: Take your time to consider the offer. Evaluate if it aligns with your needs and expectations for a fast sale.
- Accept the offer: If the offer works for you, accept it to proceed with the sale.
- Close the deal: The company will handle most of the paperwork and closing details. You can typically expect to close the sale and receive cash within a week or two.
Popular We Buy Houses for Cash companies in Duluth
If the process of selling to a house-buying company in Duluth sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some of the top companies that will pay cash for your or your parents’ Victorian or Craftsman home. By selling to one of these companies, you can sell your Duluth home in as little as a week or two.
Minnesota Home Brothers
Minnesota Home Brothers focuses its buying efforts on the city of St. Paul, but they can serve other Twin Cities area home sellers. Once the process starts, you could have a cash offer within 24 hours. Closing could potentially occur within seven days.
Locations: Twin Cities and surrounding communities, including Duluth.
Closing costs: Sellers pay no costs; Minnesota Home Brothers covers them.
Minnesota Home Brothers has a 5.0 out of 5.0-star rating on Google. Customer reviews for Minnesota Home Brothers speak to the team’s trustworthiness, knowledge, and professionalism. They express appreciation for the fair offers and the passion that they bring to help people sell their homes.
Website: minnesotahomebrothers.com
Phone number: 952-900-5841
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Duluth (and across the country) can request a cash offer for their home. Simple Sale connects you to the largest network of cash buyers in the U.S. Partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. This enables Simple Sale to provide cash offers for a wide array of properties, even those that need some or a lot of work, in different locations throughout Duluth.
With Simple Sale, you can get a no-obligation, all-cash offer in 24 hours and sell your home in as few as 10 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including Duluth
Closing costs: No prep costs, agent commissions, or fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a HomeLight platform. HomeLight was founded in 2012 and is BBB-accredited with an A+ rating. The company has 4.8 stars on Google based on hundreds of user reviews. Below, you can hear about how Baohan Wu, a seller who used Simple Sale to sell his high-rise apartment, closed within three and a half weeks and what he thought of the process overall.
Learn more: homelight.com/simple
Phone: 844-488-8455
Really Fast Realty
ReallyFastRealty is a real estate investment firm based in Minnesota, specializing in providing quick, cash offers for homes. They buy houses in any condition, handle all closing costs and paperwork, and aim to close deals within 30 days.
Locations: Minneapolis and surrounding areas, including Duluth.
Closing costs: Sellers pay no costs; Really Fast Realty covers them.
The company has received positive testimonials from customers who have praised their service for its efficiency, compassion, and understanding. According to their website, clients have highlighted the multi-offer approach that ReallyFastRealty provides, tailored to meet their specific needs, and the quick and smooth process of selling their homes.
Website: reallyfastrealty.com/sell-your-house-fast/duluth-mn/
Phone number: 612-213-4339
Bigger Equity
BiggerEquity is a nationwide house-buying company that began operations in 2016. The company says it can make a cash offer in as little as seven minutes and close as quickly as seven days.
Locations: BiggerEquity buys houses throughout Minnesota, including Duluth. The company serves homeowners in all 50 U.S. states.
Closing costs: Sellers pay no closing costs; BiggerEquity covers them.
BiggerEquity has been BBB accredited since 2018 and holds an A+ rating and 4.8 stars on Google. Customer reviews on Google for BiggerEquity speak to a smooth, transparent, and up-front process without pressure or surprises.
Website: biggerequity.com/minnesota/duluth/
Phone number: 866-333-8377
House Buyer Network
House Buyer Network is a nationwide company established in 2004, specializing in buying houses for cash. They serve various locations, including Duluth, MN, and have a reputation for helping homeowners facing challenges such as job relocation, expensive home repairs, inheritance, financial distress, and more.
Locations: Nationwide, including Duluth.
Closing costs: Sellers pay no closing costs; House Buyer Network covers them.
The company has received positive feedback from customers who appreciate their quick and efficient service. According to their website, homeowners have praised the company for its transparency, ease of the selling process, and the ability to buy houses in various conditions.
Website: housebuyernetwork.com/house-buyers-duluth-minnesota/
Phone number: 855-835-2544
Why sell your Duluth house for cash?
For homeowners in Duluth looking to sell quickly, partnering with a Cash-For-Homes company offers significant advantages, including a quick transaction, guaranteed sale with no contingency, and unparalleled simplicity.
In Duluth, it typically takes around 105 days to sell a home on the market using an agent. That includes an average of 58 days on the market plus the typical 47 days a buyer needs to close on a purchase loan.
Compare that to the typical seven to 10 days promised by many house-buying companies in Duluth, and it’s clear why these Cash-For-Homes groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
Here are some of the most common scenarios where opting for a cash sale might make sense for Duluth homeowners:
- Job relocation: If you’re moving for a new job and need to sell quickly, a cash sale can simplify the transition.
- Divorce: Selling for cash can expedite the division of assets and help both parties move on faster.
- Inherited property: Dealing with inherited properties can be overwhelming; a cash sale is straightforward and fast.
- Downsizing: For those looking to downsize, selling for cash offers a quick way to transition to your next phase in life.
- Repairs: If your home requires significant repairs you can’t afford or manage, a cash sale avoids this hurdle.
- Avoiding open houses: Some sellers prefer not to deal with the stress and invasion of privacy that comes with open houses.
- Foundation issues: Homes with foundation problems can be hard to sell traditionally; cash buyers take homes “as is.”
- Foreclosure: To avoid the fallout of a foreclosure, selling for cash can provide a way out.
- Tenants: Selling a rental property with tenants can be complex; cash sales can simplify the process.
- Selling from out of state: Managing a sale from afar is challenging; cash sales offer an easy solution.
Pros and cons of house-buying companies in Duluth
When considering selling your Duluth home to a house-buying company, the allure of speed and simplicity stands out. These companies offer to purchase your home as-is, eliminating the need for repairs or preparations, making them an attractive option for many.
Pros:
- Speed of sale: Companies can close on your home quickly, often within days, which is ideal for sellers needing to move fast.
- No need for repairs: Your home will be purchased as-is, avoiding the costs and hassle of making repairs or renovations before selling.
- Simplicity: The selling process is straightforward, with minimal paperwork and no need for open houses or marketing efforts.
- Avoid contingencies: Sales rarely fall through due to financing or other common contingencies, making the transaction smoother.
Selling to a house-buying company in Duluth may not be for everyone, particularly because the offer you receive will likely be below market value.
Cons:
- Below market value: Offers from these companies are often lower than what you might receive on the open market.
- Limited negotiation: The price offered is typically non-negotiable, giving sellers little room to maneuver.
- Potential for scams: Not all house-buying companies are reputable. Sellers should be wary of scams and thoroughly research companies.
- Missed market advantage: In a seller’s market, you might miss out on higher offers that come from multiple potential buyers competing.
Curious What Your Home Is Worth?
Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.
Vet cash buyers and know your home’s worth
When you decide to sell your Duluth home to a We Buy Houses for Cash company, remember that the level of integrity and service you receive can vary significantly. Your experience largely hinges on the character of the individual or group behind the offer. It’s vital to ensure you’re dealing with a reputable buyer.
Before committing to a cash offer, take the time to vet the company thoroughly. Look into their reviews, read testimonials from previous sellers, and research their market presence and track record in Duluth.
Moreover, understanding the true value of your home is crucial before accepting any cash offer. Always read the buying agreement carefully before signing anything. This ensures you’re fully aware of the terms and protects your interests in the transaction.
HomeLight suggests you consult with an experienced local agent to get a better idea of what your home might be worth if sold on the open market. Then, compare your cash offer. HomeLight can connect you with a top-performing agent in your market. You can also use HomeLight’s Home Value Estimator to get an initial ballpark estimate in less than two minutes.
Other options to sell your Duluth home quickly
If you want an alternative to a We Buy Houses company, you might consider iBuyers or working with a real estate agent. iBuyers, such as Opendoor and Offerpad, offer a modern, mostly online selling experience by using automated valuation models (AVMs) to make near-instant, all-cash offers.
This option is best for homes in good condition and can close in as little as a few days, though be aware of service fees of around 5%-6%. Learn more about the iBuyer process.
Listing with a top real estate agent could yield a higher selling price, especially in a seller’s market. Agents leverage their expertise to price and market your home strategically, potentially leading to a quick sale.
They also provide a valuable comparative market analysis (CMA), often free, to help set the right price. For those open to it, a top agent might connect you with buyers ready to make a competitive cash offer. If you’re curious about this route, HomeLight can connect you with a top-performing agent.
FAQs on Duluth house-buying companies
By and large, most We Buy Houses for Cash companies in Duluth are legitimate businesses. Their services and transaction fees may differ, but the business model has existed for decades. If you use an established group with a track record, you can be fairly confident it’s legit.
That said, as with any financial transaction, it’s a good idea to be alert for scams. Always research companies before you sign a contract. Check customer reviews, look at their online presence, verify professional licenses, get a referral if possible, and vet the company on the Better Business Bureau website. Watch for anything that just doesn’t seem right.
As described in our pros and cons list above, most Duluth We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value minus their estimated repair costs.
Here’s an example of what a simplified formula might look like:
(Your home’s ARV x .70) – repair costs
To see how this might work in a real-world scenario, let’s look at an example offer equation. Let’s say your Duluth Victorian home could sell for $260,000 after repairs, but it will need $30,000 of work to get there.
($260,000 x .70) – $30,000 = $152,000
In this example, a Duluth We Buy Houses company might offer you around $152,000 for your home.
However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more than We Buy Houses companies because iBuyers look for homes in better condition. An iBuyer might pay you 90% or more of market value while charging a fee for their services.
When you accept an offer from a Duluth We Buy Houses for Cash company, you will likely be coming to grips with a double-edged sword. On the one side, it shouldn’t cost you any additional money because these companies make an offer and handle almost everything once it is accepted. Conversely, you’ll likely get less money overall for your home.
Because We Buy Houses for Cash companies tend to focus on distressed homes, they typically have zero fees. Many will even cover your closing costs. In most cases, this means that the cash offer you receive will be the price you walk away with at the end of the deal. Of course, it’s always a good idea to ask the company if any hidden program fees might impact your bottom line.
- Research and vet the house-buying companies that serve your Duluth area. Our list above is a good place to start.
- Submit offer requests to a few of the companies you like best.
- Schedule any required on-site property visits.
- Compare offers. Weigh the pros and cons and choose the best option for you.
- Close the sale in a week to 30 days and get paid. (Some companies will let you choose a closing date up to 90 days after accepting the offer, which can be helpful when planning a move.)
We Buy Houses for Cash in Duluth vs. top Duluth agent
Another helpful exercise is to compare how a We Buy Houses for Cash company might stack up against working with a real estate agent. Let’s take a glance at how different aspects of the sale might look and compare possible proceeds.
| Aspect of the sale | Sell to a We Buy Houses for Cash company in Duluth | Sell with a top Realtor in Duluth |
| Selling timeline | 7 to 30 days | 105 days average; 58 to attract an offer, 47 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary repairs, landscape, stage home |
| Showings | None | 10 to 25 showings average |
| Inspections / repairs | None | May need to make additional repairs for the buyer or renegotiate the price |
| Appraisal | None | May need to lower your asking price if the appraisal comes in low |
| Title search | Cash-For-Homes companies often handle title issues | Must clear title before you can sell home |
| Financing contingency | None | Mortgaged buyers use a financing contingency that could hold up the deal if the buyer’s loan doesn’t clear |
| Agent commission | None | 5.8% average |
| Closing costs | None | 1% to 3% of the home sale price on top of agent commission |
Example net proceeds
Below, we’ve put together one example of how net proceeds may differ between selling a home to a We Buy Houses for Cash company and an agent-assisted sale.
Let’s say your home in Duluth is currently worth about $260,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $285,000.
| Sell to a We Buy Houses for Cash company in Duluth | Sell with a top Realtor in Duluth | |
| Estimated sale price | ($285,000 x .70) – $25,000 = $174,500 | $260,000 |
| Market preparations | 0 | $2,600 (1% of sale price) |
| Agent commissions | 0 | $15,080 (5.8% of sale price) |
| Closing costs | 0 | $3,900 (1.5%) |
| Estimated take-home for seller | $174,500 | $238,420 |
As this example illustrates, financially, it’s usually in your best interest to partner with an experienced real estate agent.
However, net proceeds are not the only consideration when selling a home. What’s best in your situation will depend on the condition of your property, what level of repairs are needed, and your selling objectives. It could be that selling on the open market will be a challenge in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Speed and simplicity: Selling to a house-buying company in Duluth offers a fast, straightforward process without the need for repairs or preparations.
- As-is convenience: These companies buy homes in any condition, providing an option for sellers unable to afford or manage renovations.
- Certain sale: Avoid the uncertainty of buyer financing falling through, a common hurdle in traditional sales.
- Market value trade-off: Be prepared that offers from house-buying companies may be below market value, reflecting the trade-off for convenience and speed.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
At HomeLight, we’re happy to lend a guiding hand in navigating your real estate journey. Let us help you make an informed and confident decision, whether you’re looking for a no-obligation cash offer through a trusted platform like Simple Sale or seeking to consult with a top Duluth agent.
Header Image Source: (JamesDeMers/Pixabay)
