5 Top We Buy Houses for Cash Companies in Rochester, MN
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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.
Are you considering selling your home in Rochester, Minnesota, but daunted by the prospect of repairs and long market waits? We Buy Houses companies might be your solution, offering all-cash deals for homes that often need a bit of TLC. These companies cater to sellers like you, who may lack the time, expertise, or funds for home improvements, providing a swift path to selling your property and moving forward with your life plans.
When you’re facing an urgent need to sell – perhaps due to a job relocation, financial constraints, or other personal circumstances – opting for a cash sale can be a practical choice. It’s a route simplifies the selling process, bypassing the usual hassles of staging, repairs, and uncertain timelines.
This post will guide you through the intricacies of working with house-buying companies in Rochester. We’ll explore the pros and cons, helping you weigh your options effectively. Whether in a tight spot or just seeking a quick sale, understanding these key points will empower you to make an informed decision that aligns with your needs.
Sell Your Rochester House Fast With an All-Cash Offer
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Disclaimer: This post is for educational purposes only and does not constitute legal or financial advice. Links and mentions of Rochester area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Rochester
Navigating the sale of your Rochester, Minnesota home to a house-buying company can be straightforward. Here’s a simple guide to the basic steps involved in this process, tailored for homeowners in Rochester looking for a quick and hassle-free sale.
- Research companies: Research various We Buy Houses companies in Rochester. Look for reputable firms with a record of fair dealings and positive reviews. This step ensures you’re dealing with a legitimate and trustworthy buyer.
- Contact the company: Reach out to the chosen company through their website or by phone. Provide them with basic information about your property, such as location, size, and condition. This initial contact is crucial for setting the process in motion.
- Schedule a visit: The company will typically arrange a visit to your property. This allows them to assess the house’s condition and any unique features or potential issues that might affect the offer.
- Receive an offer: The company will present you with a cash offer after evaluating your property. Remember, these offers are usually non-negotiable and based on the as-is condition of your home.
- Review the offer: Take your time to review the offer. Consider your financial needs and the convenience of a quick, as-is sale. It’s vital to ensure the offer aligns with your expectations and circumstances.
- Close the deal: The company will handle most of the closing formalities if you accept the offer. The process is typically faster than traditional sales, and you could receive your cash in a matter of days or weeks, depending on the company’s procedures and your agreement.
Popular We Buy Houses for Cash companies in Rochester
If the process of selling to a house-buying company in Rochester, Minnesota sounds good to you, it’s time to find a legitimate operation you can trust.
We’ve compiled some top companies that will pay cash for your or your parents’ modern farmhouse or Tudor home. By selling to one of these companies, you can sell your Rochester home in as little as a week or two.
Minnesota Home Brothers
MN Home Brothers, a Minnesota-based company, emphasizes a no-pressure, collaborative approach to selling your home. The company prides itself on having a client-centric vision and an affable nature.
Locations: Rochester and surrounding areas
Closing costs: Sellers pay no closing costs; Minnesota Home Brothers covers them.
Minnesota Home Brothers has been BBB accredited since 2020 and holds an A+ BBB grade rating. Customers appreciate the company’s commitment to providing their best offers upfront without resorting to lowball strategies. They have a Google review rating of 5.0.
Website: minnesotahomebrothers.com
Phone number: 952-230-2324
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Rochester (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 Rochester.
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 Rochester
Closing costs: No prep costs, no agent commissions, and no 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 more than 500 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
MN Nice Home Buyers
MN Nice Home Buyers is based in Minnesota. The company focuses on purchasing your house as is, with the ability to make an offer in as quickly as seven days. Closing schedule is also flexible, and can work on the seller’s timeline if a slower sale is preferred.
Locations: Rochester, Eagan, Minneapolis, St Paul
Closing costs: Sellers pay no closing costs; MN Nice Home Buyers covers them.
MN Nice Home Buyers has been BBB accredited since 2019 and holds an A+ BBB grade rating. Clients frequently commend the company for their seamless process, from handling paperwork to ensuring transparent transactions. They have a Google review rating of 4.9.
Website: mnnice.com/we-buy-houses/rochester
Phone number: 612-930-2000
We Buy Houses Southern Minnesota
We Buy Houses Southern Minnesota is based in Southern MN. The company prides itself on rejuvenating properties to their fullest potential, with an uncomplicated, transparent, and fair process.
Locations: Rochester and surrounding areas in Southern Minnesota
Closing costs: Sellers pay no closing costs; We Buy Houses Southern Minnesota covers them.
Clients of We Buy Houses Southern Minnesota consistently highlight the company’s quick, efficient, and seamless service. Overall, the company is highly recommended for its friendly and professional interactions. They have a Google review rating of 5.0.
Website: webuyhousessouthernmn.com
Phone number: 507-351-8672
Minnesota Home Guys
Minnesota Home Guys, founded by Jaden Ghylin and James Kolde aims to assist homeowners in finding solutions for their property-related challenges, whether stemming from a divorce, looming foreclosure, or stalled sales.
Locations: Rochester and surrounding areas
Closing costs: Sellers pay no closing costs; Minnesota Home Guys covers them.
Minnesota Home Guys has been BBB accredited since 2017 and holds an A+ BBB grade rating. Reviewers commend the team’s quick responses to questions, making the often-stressful home selling process smooth and seamless. They have a Google review rating of 4.8.
Website: homeguysmn.com
Phone number: 952-522-9775
Why sell your Rochester house for cash?
Many valid reasons exist for a Rochester home seller to work with a Cash-For-Homes company. The main benefits are speed, certainty, and remarkable convenience.
In Rochester, selling a home on the market typically takes 76 days using an agent. That includes an average of 31 days on the market plus the typical 45 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 Rochester, 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.
Selling your Rochester home for cash to a house-buying company can be an appealing option in the right situation. These companies are growing in popularity, especially for sellers needing more time to prepare, market, and close a traditional home sale.
Let’s look at some of the most common reasons Rochester sellers use a We Buy Houses for Cash company over listing a property the traditional way.
- Significant repairs needed: If your home has major issues like foundation problems or water damage, selling for cash can be a practical solution.
- Quick cash requirement: Whether due to divorce, medical needs, financial strain, or job relocation, a fast cash sale can be crucial.
- Lack of repair funds: If you can’t afford or don’t want to invest in home repairs, selling to a cash buyer offers an easy way out.
- Avoiding stress and work: Selling for cash means no stress or hassle from prepping the home, coordinating showings, and navigating complex sales processes.
- Privacy concerns: Opt for a private, off-market sale if you prefer not to publicize your home sale.
- Facing foreclosure: To avoid worsening your financial situation or credit history, a quick cash sale can be a way to settle debts.
- Inherited property: A cash sale is a straightforward way to handle an inherited property you don’t wish to keep.
- Landlord issues: If you’re tired of managing a rental or dealing with difficult tenants, selling for cash offers a quick exit.
- Elderly downsizing: For seniors moving in with relatives or to care facilities, selling for cash can simplify the transition.
- Out-of-state owner: Living far from the property can make a quick, easy cash sale more appealing.
If you are a homeowner facing these circumstances, requesting a cash offer from a We Buy Houses company might be an excellent option. However, it’s prudent to consider this a starting point in your search for solutions.
Pros and cons of house-buying companies in Rochester
When considering selling your Rochester home to a house-buying company, it’s important to weigh the pros and cons. The biggest advantages are the speed of the transaction and the ability to sell your house in any condition without needing repairs or preparations. Here’s a quick summary of the key benefits:
- Speed of sale: These companies can close the deal quickly, often within days, which is ideal for urgent situations.
- No repairs needed: Sell your house as-is, without spending on repairs or renovations, saving time and money.
- Simple process: The sale process is straightforward, with less paperwork and no need for staging or showings.
- Guaranteed sale: Unlike traditional market sales, there’s a high certainty of sale, reducing stress and uncertainty.
On the other hand, the most significant downside is that a house-buying company in Rochester will likely offer you less than market value. This is a critical factor, especially if maximizing profit is your priority. Here are the main drawbacks:
- Lower offers: Expect to receive an offer below market value, as these companies need to profit from the eventual resale.
- No negotiation: The offered price is usually non-negotiable, giving you less control over the sale price.
- Limited market exposure: Selling directly to a company means missing out on potential higher offers from the open market.
- Potential for scams: It’s crucial to research companies thoroughly, as there are risks of scams or unethical practices.
As you consider these pros and cons, it’s also important to understand the value of your Rochester home and how to vet potential cash buyers. The next section, “Vet cash buyers and know your home’s worth,” will guide you through this crucial step.
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 work with a We Buy Houses for Cash company in Rochester, it’s crucial to remember that the level of integrity and service can vary significantly. Your experience will largely depend on the character and professionalism of the person or group making the offer. Not all cash buyers are created equal; some may offer a more seamless and fair process than others.
Before committing to a cash offer, take the time to vet the company thoroughly. Check online reviews, read testimonials from previous sellers, and research the company’s presence and performance in the Rochester market. This due diligence can help ensure you’re dealing with a reputable buyer. Additionally, always read the buying agreement carefully before signing.
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 Rochester home quickly
iBuyers:
iBuyers offer a modern, mostly online approach to selling your home quickly. Using automated valuation models, they provide near-instant, all-cash offers, often closer to market value, for homes in good condition. The process is fast, typically concluding in days to two weeks. However, be aware of service fees, usually around 5%-6%. iBuyers are ideal for sellers with homes in areas with uniform housing and in relatively good shape. iBuyers include companies like Opendoor and Offerpad.
Listing with an Agent:
While it may seem counterintuitive in a discussion about quick cash sales, listing with a real estate agent is a viable option. In seller-friendly markets, a top agent can facilitate a rapid sale, particularly with strategic pricing and effective marketing. Agents can often secure the highest selling price, especially when paired with top professionals.
They provide valuable insights through a comparative market analysis (CMA), often provided for free, helping set a competitive listing price. Experienced agents might also connect you with cash buyers, ensuring you make a well-informed decision. If exploring this route interests you, HomeLight can connect you with a top-performing agent in your area.
FAQs on Rochester house-buying companies
By and large, most We Buy Houses for Cash companies in Rochester are legitimate businesses. Their services and transaction fees may differ, but the business model has been around for decades. If you use an established group with a track record, you can be fairly confident that it’s legit.
That said, as with any financial transaction, it’s a good idea to be on the 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 Rochester 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 take a look at an example offer equation. Let’s say your Rochester [common type of house in the region] could sell for $278,750 after repairs, but it’s going to need $30,000 of work to get there.
($350,000 x .70) – $30,000 = $215,000
In this example, a Rochester We Buy Houses company might offer you around $215,000 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 Rochester We Buy Houses for Cash company, you will likely be coming to grips with a two-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 the offer is accepted. On the other side, 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 is going to be the price you walk away with at the end of the deal. Of course, it’s always a good idea to flat-out ask the company if there are any hidden program fees that might impact your bottom line.
We Buy Houses for Cash in Rochester vs. top Rochester 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 Rochester | Sell with a top Realtor in Rochester |
| Selling timeline | 7 to 30 days | 76 days average; 31 to attract an offer, 45 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 Rochester is currently worth about $450,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $475,000.
| Sell to a We Buy Houses for Cash company in Rochester | Sell with a top Realtor in Rochester | |
| Estimated sale price | ($475,000 x .70) – $25,000 = $307,500 | $450,000 |
| Market preparations | 0 | $4,500 (1% of sale price) |
| Agent commissions | 0 | $26,100 (5.8% of sale price) |
| Closing costs | 0 | $6,750 (1.5%) |
| Estimated take-home for seller | $307,500 | $412,650 |
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 your Rochester, Minnesota home to a cash-for-homes company offers a quick and straightforward process, ideal for urgent situations.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
- As-is sale: You can sell your home in its current condition, avoiding the cost and time associated with repairs and renovations.
- Guaranteed sale: These companies typically provide a guaranteed sale, reducing the uncertainty that comes with traditional market listings.
- Below market offers: Be prepared to receive offers below market value, as these companies aim to profit from the eventual resale.
- No negotiations: The offered price is usually take-it-or-leave-it, with little room for negotiation.
- Research is key: Thoroughly vet any cash-for-homes company you consider, checking their reputation and understanding the terms of their offer.
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 Rochester agent.
Header Image Source: (goglik83 / DepositPhotos)
