How to Sell My House Fast in Minneapolis: Cash Offer Options

Pros and cons of selling to a Minneapolis house-buying company

Still not sure if you’re a good candidate for working with a Minneapolis house-buying company? Here’s a quick comparison of some of the main pros and cons:

Pros

• Sell fast: Get a quick offer on your home, often within days, making it ideal for those in a hurry.
• Skip repairs: Sell your house as is, without needing to fix or renovate anything.
• Easy process: The transaction is straightforward, with less paperwork than traditional sales.
• No staging or showings: Eliminates the hassle and expense of staging and arranging showings.
• Flexible move-out dates: Accommodates your schedule for a stress-free transition.
• No financing delays: With cash transactions, there’s no waiting for buyer financing approval.
• Reduced or no closing fees: Some companies may cover closing costs, saving you money.
• Sale is guaranteed: The sale is almost certain once the offer is accepted.
• Can be a foreclosure solution: Offers a way out for those facing foreclosure.
• Less work than an FSBO sale: Simplifies the process compared to selling on your own.
• Peace of mind: Removes the uncertainty and waiting involved in traditional sales.

Cons

• Lower offers: The price might be below market value, reflecting the convenience and speed.
• Less competition for your home: A direct sale means not tapping into the broader market.
• You give up control: Less room for negotiation on terms and price.
• No negotiations: The first offer is often the only offer, with little room to negotiate.
• Can face hidden fees: Always read the fine print to avoid unexpected costs.
• Not all companies are reputable: It’s crucial to research and verify the buyer’s credibility.
• A potential risk for scams: Be vigilant of scams in the cash buying sector.

Christina Edelstein-Skurat, a Plymouth, Minnesota agent who sells homes 50% faster than the average agent in her area, notes that would-be sellers need to understand that selling their home quickly comes with drawbacks for the sake of convenience.

“The reason why [we buy houses companies] are buying it fast is because they’re going to buy it at a price that allows them to turn around and sell it at a profit. So ultimately, a seller needs to get a clear handle on their goals. If the goal is a quick and easy sale, and they don’t care about the money, then the cash offers make a lot of sense,” Edelstein-Skurat says.

“There is a space where it clearly makes sense for people to sell for cash, like hoarders, or major, major issues with the house where it’s completely outdated everywhere, and the person or the people helping the person don’t have the finances, ability, or willingness to put it in a better condition to sell. That’s where there can be the perfect marriage between those ‘fast cash offer’ things and sellers,” she adds. 

Option 2: Hire a top Minneapolis real estate agent

When the clock is ticking on your home sale in Minneapolis, enlisting the expertise of a top real estate agent can be a savvy decision. A proficient agent brings an intimate understanding of the Minneapolis market dynamics, ensuring your sale moves quickly and yields a successful outcome. They’re adept at managing all aspects of the sale, from staging to clinching the best deal, potentially increasing the final sale price even under tight deadlines.

As we dive deeper into the benefits of partnering with a real estate professional, let’s explore how quickly homes sell in Minneapolis. This insight will highlight the value a skilled agent adds, guiding you through the current market landscape and how to connect with a leading agent in your area.

“No two real estate agents are exactly the same. When you work with an expert agent, some of the top benefits involve a deeper understanding of what the market is actually doing for the sub-market that your home exists in,” Edelstein-Skurat says.

How fast are homes selling in Minneapolis?

In Minneapolis, the real estate market shows signs of opportunity and competition for sellers. Homes in Minneapolis are currently finding their way from listing to a signed contract in an average of 39 days. However, sellers should anticipate an additional 45 days for buyers to finalize their purchase loans, bringing the total time from listing to closing to roughly 84 days. This timeline offers a glimpse into the brisk pace at which Minneapolis homes are moving, reflecting a market that’s active yet manageable for those looking to sell.

Minneapolis’s median home sale price is $327,200, indicating a healthy real estate market that could benefit sellers. With an inventory level of 2.3 months, the city is experiencing a market that leans towards sellers, suggesting that well-priced homes in good condition can expect a good amount of interest.

Data source(s): Minnesota Realtors

*Does not include time required for buyer to close the loan

“In the Twin Cities, the days on market is roughly about 38 days, or a range of about 30 to 40 days, which is up 65% from last year. But even though that sounds like a really big scary percentage, it’s still a very limited inventory market, and it’s still a very fast-moving market,” Edelstein-Skurat says.

Benefits of selling with a top Minneapolis agent

Leveraging the expertise of a top real estate agent in Minneapolis can significantly streamline your home selling process, ensuring a quicker and more profitable sale. These professionals understand the nuances of the Minneapolis market, applying their knowledge to speed up the selling process while maximizing your gains.

• Ability to sell for more: A skilled agent can help you secure a higher selling price through strategic pricing and marketing.
• Can generate a speedy sale: With an extensive network and market knowledge, an agent can find the right buyer quickly.
• Accurate, effective pricing: Setting the right price from the start accelerates interest and offers, and a skilled agent knows how to hit the mark.
• Professional negotiation skills: Strong negotiations ensure you get the best deal possible in the shortest time.
• Expert partner by your side: An experienced agent guides you through every step, reducing stress and confusion.
• Will know what to fix and not fix: They identify cost-effective repairs or upgrades that could enhance your home’s appeal and value.
• Elevated marketing: Advanced marketing techniques ensure your listing reaches a wide, targeted audience.
• Contract savviness: Their expertise in handling contracts speeds up the process, ensuring all terms favor you.
• Can manage documents and disclosures: Navigating the paperwork and legal requirements is smoother with a professional by your side.
• Network of skilled professionals: Access to a vetted network ensures any needed work is done quickly and correctly, preparing your home for sale efficiently.

“When a seller works with a team, or an agent that actually has a marketing budget, and a plan, the exposure is massively different than a seller just trying to sell by themselves or if they only talked to a cash investor,” Edelstein-Skurat says.

Conversely, she says that potential sellers need to be aware of the marketing tactics that cash-for-homes companies employ.

“I’ve seen cash investors before. I’ve followed them in the past to learn [how they operate. Their whole job (not all of them, but a lot of them, the bigger players in our market), is to get the home at a lower price. They specialize in telling the seller why their house sucks. And as they walk through the house with them, they convince the seller that it would be lucky to get their offer which is maybe 70¢ on the dollar of its value,” she warns.

How to find a top Minneapolis real estate agent

Finding the ideal real estate agent in Minneapolis is key to a successful and speedy home sale. HomeLight’s Agent Match platform makes this easy by evaluating over 27 million transactions and countless reviews to connect you with a top-rated agent in the Minneapolis market. Whether looking to sell quickly or buy the perfect home, HomeLight can guide you to the best agent tailored to your needs.

Expert agent tips to help sell your Minneapolis house fast

To secure a quick sale in Minneapolis, harnessing local market insights and tailoring your selling strategy to what Minneapolis buyers seek can make all the difference. These tips, recommended by top real estate agents, cater to the unique aspects of the Minneapolis market, from the climate to the lifestyle preferences of local buyers.

• Price it right from the start: Avoid overpricing to prevent a prolonged market stay. A knowledgeable agent can set a competitive price.
• Capitalize on local charm: Minneapolis homes with a story or historic charm are appealing. Highlight these features alongside modern updates.
• Highlight outdoor living: Buyers in Minneapolis value outdoor spaces, especially those usable year-round or that offer serene views.
• Stage for the Minneapolis lifestyle: Reflect the city’s vibrant culture and the trend towards remote work by setting up a dedicated home office space.
• Focus on curb appeal: Make a stellar first impression with well-kept landscaping and a tidy exterior to attract attention from the outset.
• Get a pre-listing home inspection: Uncovering and addressing issues early with a pre-sale inspection can smooth the path to a sale.
• Make your home weather-ready: Given Minneapolis’s varied climate, ensuring your home is prepared for all seasons can be a significant selling point.
• Offer a home warranty: A home warranty can ease buyer concerns about future repairs, making your home more appealing.
• Use professional photography: High-quality images can make your listing stand out in the competitive Minneapolis market. High-quality photos are crucial.
• Consider timing: The Minneapolis housing market experiences seasonal fluctuations. HomeLight’s Time to sell calculator can help you choose the best listing period.

“Get rid of almost everything you own. That’s kind of a joke, but if you can do some major decluttering, the home will sell faster. I saw an almost $1 million listing on our market, and the closet was spilling out with clothes. Showing it like that is not a good strategy,” Edelstein-Skurat suggests.

“And on the flip side, when we advise our sellers, we say, “Hey, get rid of or put half of your clothes that you’re not using, just put them away in storage. And make your closets look spacious and organized. Same thing with furniture, definitely with kids’ toys,” she adds.

Ready to sell your Minneapolis house fast?

Whether looking for a fast cash transaction or aiming to maximize your sale through strategic marketing, understanding your options is crucial for a fast home sale in Minneapolis.

• If speed is your top priority, a cash offer via HomeLight’s Simple Sale platform could provide the quick, hassle-free solution you need.
• For those seeking to achieve the best possible price, partnering with a seasoned real estate agent is key. HomeLight can connect you with a top-rated agent in the Minneapolis market, ensuring your home is expertly marketed and competitively priced.

Considering both options? A comparison between a Simple Sale cash offer and the advice of a skilled agent offers a comprehensive view, empowering you to make the best decision for your situation.

Ultimately, the path you choose should align with your unique needs and goals. Armed with the right information and resources, you’re well-equipped to navigate the fast-paced Minneapolis real estate market with confidence.

Header Image Source: (Nicole Geri / Unsplash)