We Buy Houses Sterling Heights: Top 5 Companies
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Joseph Gordon EditorJoseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
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.
Do you own a home in Sterling Heights? Have you seen signs for “We Buy Houses” companies in your neighborhood? Do you need to sell your home fast? We Buy Houses companies will purchase your home for cash, usually in a matter of days, regardless of its condition.
A cash sale can be a lifesaver if you need to sell quickly. Are you struggling with the threat of foreclosure, or do you need to relocate for a new job? Perhaps you are downsizing and moving into a retirement home. Whatever the reason, a cash sale can be a great alternative to the traditional real estate market
In this post, we’ll explore the pros and cons of selling your Sterling Heights home to a cash-for-homes company, showing you how the process works and providing you with other options to sell your home in a few days—rather than several months.
Sell Your House Fast in Sterling Heights 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 Sterling Heights.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Sterling Heights area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Sterling Heights
Selling your Sterling Heights property for cash to a We Buy Houses company isn’t complicated, but there are a few steps to the process before you can get paid. Here’s how it works:
1. Find a local company: Contact a reputable house-buying company in Sterling Heights and provide them with basic information about your property.
2. Schedule a home visit: The company will set up a time to visit your home and assess its condition. This evaluation helps them determine their offer.
3. Receive an offer: After the assessment, the company will present you with a no-obligation, all-cash offer for your home.
4. Review and accept: Take the time to review the offer. If you agree with the terms, you can accept them and proceed with the sale.
5. Sign the contract: Once you accept the offer, you’ll sign a purchase agreement to officially start the selling process.
6. Close the sale: The company will handle the closing details, and you’ll receive your payment, often within a week or two sometimes less.
Popular We Buy Houses for Cash companies in Sterling Heights
If the process of selling to a house-buying company in Sterling Heights 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’ colonial or ranch homes. By selling to one of these companies, you should be able to sell your Sterling Heights home in as little as a week or two.
Cash For Michigan Houses
Cash for Michigan Houses is a real estate investment company in Flint, Michigan. They buy houses in any condition, If selling to them isn’t the best option, they refer clients to local real estate agents.
Locations: All cities in Michigan, including Sterling Heights
Closing costs: Sellers pay no closing costs; Cash for Michigan Houses covers them.
Cash for Michigan Houses is highly regarded by clients for its efficiency, fair offers, and customer service. The team’s professionalism and helpfulness are commended, making the experience refreshing and worthwhile even for those who do not end up selling their homes. The company has a 4.5-star Google review rating.
Website: cashformichiganhouses.com/sterling-heights
Phone number: 810-309-9371
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Sterling Heights (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 Sterling Heights.
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 Sterling Heights.
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
Blue Moon Acquisitions
Blue Moon Acquisitions is a locally-owned real estate solutions company based in Metro Detroit, specializing in helping homeowners find solutions to their sticky situations. To get started, fill out a short form, set up an appointment and you can receive an offer following an inspection of your property.
Locations: Mid-Michigan and Metro Detroit, including Sterling Heights
Closing costs: Sellers pay no closing costs; Blue Moon Acquisitions covers them.
Blue Moon Acquisitions is a BBB-accredited company with an A+ rating. Google reviews praise the staff for the quick process and for providing helpful insights and options, making the selling decision easier for clients. They are commended for their ability to handle title issues promptly and without additional costs. Closing is described as fast, with clients receiving their payment within a short period.
Website: sellsoonbluemoon.com/sell-your-house-fast-in-sterling-heights-mi
Phone number: 586-600-7157
Steve Moves Michigan
Steve Moves Michigan is a real estate solutions firm specializing in helping homeowners sell their properties quickly, often within 24 hours. They offer a straightforward process for selling houses in any condition across Michigan, including Sterling Heights, without commissions, fees, or obligations.
Locations: Michigan, including Sterling Heights, and surrounding areas such as Oak Park, Hazel Park, Ferndale, Royal Oak, Bloomfield Hills, Bloomfield, Warren, Oakland Township, Clawson, Madison Heights, Birmingham, Livonia, Franklin, Farmington Hills, Auburn Hills, Pontiac, Sylvan Lake, Keego Harbor, Waterford, West Bloomfield, Troy, Rochester, Oxford, Lake Orion, Detroit, Southfield, Dearborn Heights, Rochester Hills, and Dearborn.
Closing costs: Sellers pay no closing costs; Steve Moves Michigan covers them.
Steve Moves Michigan’s clients highlight the company’s exceptional service, earning a 5-star rating on Google Reviews. Clients praise the company for being very helpful, knowledgeable, and patient. They also commend the company’s integrity in the business and its mission statement.
Website: stevemovesmichigan.com/we-buy-sterling-heights-houses
Phone number: 248-613-6877
Tower Home Buyers
Tower Home Buyers is a real estate solutions and investment firm specializing in helping homeowners sell their properties quickly and efficiently. They offer a straightforward process for selling houses in any condition across Michigan, including Sterling Heights, without commissions, fees, or obligations.
Locations: Across Michigan, including Sterling Heights, Detroit, Macomb, Redford, and other locations within the state.
Closing costs: Sellers pay no closing costs; Tower Home Buyers covers them.
Tower Home Buyers has received positive feedback from customers based on their website’s testimonial page, which highlights their fair and efficient service. Clients also shared their gratitude for the professional, structured, and dedicated service provided by the team, especially in selling their mother’s house.
Website: towerhomebuyers.us/michigan/sterling-heights
Phone number: 248-309-6624
Why sell your Sterling Heights house for cash?
Selling your Sterling Heights property to a We Buy Houses company for cash is ideal if you need to make a quick sale that’s almost guaranteed to go through. The process is significantly easier and faster than selling through a real estate agent.
In Sterling Heights, it typically takes around 65 days to sell a home on the market using an agent. That includes an average of 23 days on the market plus the typical 42 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 Sterling Heights, 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 Sterling Heights house for cash can be an attractive option, especially if you’re dealing with unique circumstances that make a traditional sale difficult. Here are some common scenarios where choosing a house-buying company might be a fitting solution:
- Job relocation: You need to sell quickly to move for a new job opportunity.
- Divorce: Simplify the process by selling your home swiftly and dividing the proceeds.
- Inherited property: Unload an inherited house without the hassle of repairs and showings.
- Downsizing: Move to a smaller, more manageable home without the stress of traditional selling.
- Repairs: Your home needs significant repairs that you can’t afford or don’t want to handle.
- Avoiding open houses: Skip the inconvenience and intrusion of staging and holding open houses.
- Foundation issues: Sell a home with serious foundation problems that might deter traditional buyers.
- Facing foreclosure: Avoid foreclosure by selling your home quickly to settle debts.
- Problem tenants: Relieve yourself of the headaches of managing tenants by selling your rental property.
- Selling from out of state: Manage a property sale remotely with the ease of a cash transaction.
Pros and cons of house-buying companies in Sterling Heights
Selling your house to a house-buying company in Sterling Heights has ups and downs. Here are some of the main pros and cons to be aware of:
Pros
Working with a house-buying company offers significant benefits, including the speed of the transaction and the ability to sell your home in any condition without needing repairs or preparations:
- Quick sale: House-buying companies can close in as little as a week, allowing you to move on swiftly.
- No repairs needed: Sell your home as-is without investing in costly repairs or upgrades.
- No showings or open houses: Skip the hassle of staging and holding open houses.
- Certainty of sale: Avoid deals falling through due to contingencies or financing issues.
Cons
While house-buying companies offer convenience, the most significant drawback is that they typically offer you below-market value for your home compared to selling with an experienced real estate agent. Here are the key cons:
- Lower offers: Expect to receive less than market value for your home.
- Potential for scams: Be aware of the risk of scams in the cash-for-homes industry.
- Less competitive market: You won’t benefit from multiple offers or bidding wars that can increase your home’s price.
- Limited negotiation: House-buying companies usually present take-it-or-leave-it offers with little room for negotiation.
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 working with a house-buying company in Sterling Heights, it’s essential to ensure you’re dealing with a reputable and trustworthy buyer. Here’s how to vet cash buyers and know your home’s worth:
- Check reviews: Look up the company online and read reviews from previous sellers to gauge their experiences.
- Read testimonials: Look for testimonials on the company’s website to understand the level of service and satisfaction they provide.
- Research the market: Investigate the company’s presence and performance in the Sterling Heights real estate market.
- Read the agreement: Carefully review the buying agreement to ensure you understand all terms 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 Sterling Heights home quickly
iBuyers
iBuyers, or instant buyers, use automated valuation models to provide near-instant home value estimates. Companies like Opendoor and Offerpad offer all-cash deals, often closer to market value, for homes in good condition. The iBuyer process is quick, typically closing in a few days to two weeks, but they charge service fees of 5%-6%. This option suits sellers with homes in relatively good condition in homogeneous housing markets.
Listing with an agent
Listing with a top real estate agent can result in a fast sale, especially in a seller-friendly market. Using an agent can yield the highest selling price, often 10% more than average agents. You’ll also get a comparative market analysis, which evaluates your home’s value based on similar properties. Many agents provide a CMA for free. An experienced agent might even connect you with buyers offering cash closer to market value. If you’re interested in this option, HomeLight can connect you with a top-performing real estate agent in your area today.
FAQs on Sterling Heights house-buying companies
By and large, most We Buy Houses for Cash companies in Sterling Heights 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 Sterling Heights 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 Sterling Heights colonial home could sell for $280,000 after repairs, but it will need $30,000 of work to get there.
($280,000 x .70) – $30,000 = $166,000
In this example, a Sterling Heights We Buy Houses company might offer you around $166,000 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 Sterling Heights 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, asking the company if any hidden program fees might impact your bottom line is always a good idea.
1. Research and vet the house-buying companies that serve your Sterling Heights area. Our list above is a good place to start.
2. Submit offer requests to a few of the companies you like best.
3. Schedule any required on-site property visits.
4. Compare offers. Weigh the pros and cons and choose the best option for you.
5. 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 Sterling Heights vs. top Sterling Heights 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 Sterling Heights | Sell with a top Realtor in Sterling Heights |
| Selling timeline | 7 to 30 days | 65 days average; 23 to attract an offer, 42 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 the 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 compiled 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 Sterling Heights is worth about $280,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $305,000.
| Sell to a We Buy Houses for Cash company in Sterling Heights | Sell with a top Realtor in Sterling Heights | |
| Estimated sale price | ($305,000 x .70) – $25,000 = $188,500 | $280,000 |
| Market preparations | 0 | $2,800 (1% of sale price) |
| Agent commissions | 0 | $16,240 (5.8% of sale price) |
| Closing costs | 0 | $4,200 (1.5%) |
| Estimated take-home for seller | $188,500 | $256,760 |
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
- Quick sales: House-buying companies in Sterling Heights can close deals in as little as a week, providing fast cash.
- No repairs needed: Sell your home as-is without investing in costly repairs or upgrades.
- Convenience: Avoid the hassle of staging, open houses, and lengthy negotiations.
- Lower offers: Expect offers below market value compared to traditional real estate sales.
- Limited negotiation: Most house-buying companies present take-it-or-leave-it offers.
- Risk of scams: Be vigilant and thoroughly vet any house-buying company you consider.
- Know your home’s worth: Always know 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 Sterling Heights agent.