5 Top We Buy Houses for Cash Companies in Eagan
- Published on
- 15 min read
-
Joseph Gordon EditorClose
Joseph Gordon EditorJoseph Gordon is an Editor with HomeLight. He has several years of experience reporting on the commercial real estate and insurance industries.
Considering selling your home in Eagan but worried about the time and expense of repairs? “We Buy Houses” companies in Eagan offer a straightforward solution, making all-cash offers for homes that may need a bit of TLC. This option is particularly appealing if you’re looking to quickly finalize a sale without the hassle of conventional home selling.
A cash sale can be a lifeline if you lack the time, expertise, or funds for home improvements. It allows you to quickly access the proceeds from the sale and move on with your life, ideal for handling unexpected or urgent situations.
In this post, we will explore the pros and cons of selling your Eagan home to cash-for-homes companies, show you how the process works, and provide you with some alternatives to help you weigh your options and decide if this is the right path for you.
Sell Your House Fast in Eagan 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 Eagan.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Eagan area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Eagan
Selling your home quickly in Eagan doesn’t have to be complicated. House-buying companies offer a streamlined process that can simplify your sale, especially when time is of the essence. Here’s how you can work with these companies:
- Contact the company: Reach out to a house-buying company in Eagan and provide them with basic details about your home. This initial contact can typically be made through their website or over the phone.
- Schedule a visit: Allow the company to schedule a visit to assess your property. This visit is crucial for them to verify the details and condition of your home.
- Receive an offer: After reviewing your property, the company will usually make an all-cash offer. This offer is based on the current condition of your home and market conditions in Eagan.
- Review the offer: Take your time to review the cash offer. Remember, these offers are usually non-negotiable, so consider your options carefully.
- Close the sale: If you accept the offer, the company will handle most of the paperwork and can often close the sale quickly, sometimes within a week.
- Receive your payment: Once everything is settled, you will receive the payment for your home, allowing you to move forward with your plans without delay.
Popular We Buy Houses for Cash companies in Eagan
If the process of selling to a house-buying company in Eagan 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’ Ranch and Greek Revival. By selling to one of these companies, you should be able to sell your Eagan home in as little as a week or two.
Minnesota Home Brothers
Minnesota Home Brothers, established in Eagan by the Tobler brothers—Matt, Hank, and Andrew—will provide an offer within 24 hours. You can select your closing date and enjoy the flexibility to sell at your convenience. Qualifying sellers can close in as little as seven days.
Locations: Serves Eagan and surrounding areas
Closing costs: Sellers pay no closing costs; Minnesota Home Brothers covers them.
Minnesota Home Brothers maintains a 5.0-star Google rating, supported by over 80 reviews. A recent client shared their positive experience, noting the team’s exceptional service in navigating a unique home-selling situation. They highlighted the team’s patience, professionalism, and trustworthy business conduct, contrasting it favorably with other experiences in the area.
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 Eagan (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 Eagan.
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 Eagan
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
Sota Home Buyers
Matthew Taschner, Owner of Sota Home Buyers, offers a quick and efficient way to sell your Minnesota house for cash. Simply call or fill out their website form for a free all-cash offer. Choose a closing date; they can typically make a fair offer within 24 hours. They can close in as little as seven days or on your schedule.
Locations: Serves Minnesota, including Eagan and surrounding areas
Closing costs: Sellers pay no closing costs; Sota Home Buyers covers them.
Sota Home Buyers has been BBB accredited since 2020 and holds an A+ rating. Sota Home Buyers has a 4.6-star Google rating from 14 reviews. A recent customer shared their positive experience, mentioning the quick and responsive service in a challenging situation.
Website: sotahomebuyers.com
Phone number: 612-249-9300
Positive Share, LLC
Positive Share, LLC is a family-owned company started by Russ Mosley, offering real estate solutions since 2009. To begin, you contact them and submit a short property information form. They will then reach out to discuss and provide a fair, no-obligation cash offer. The best part is they can close quickly or whenever you choose.
Locations: Serves Southern Minnesota, including Eagan
Closing costs: Sellers pay no closing costs; Positive Share, LLC covers them.
Positive Share, LLC has been BBB accredited since 2021 and holds an A+ rating. Positive Share, LLC has a 5.0-star Google rating from 5 reviews. A client appreciated the company’s mentoring skills, willingness to assist, and thoughtful suggestions. They also noted the company’s priority of people over short-term benefits and its regard for property and tenants. The client affirmed the company’s fairness, respectfulness, and commitment to finding mutually beneficial solutions.
Website: www.positiveshare.com
Phone number: 763-670-0222
Minnesota Home Guys
Minnesota Home Guys, a family-owned real estate solutions company in Minneapolis, was founded by Jaden Ghylin and James Kolde. They prioritize family values in their business. To start, provide property details for a quick and free assessment. If your property meets their criteria, they’ll schedule an appointment and present you with multiple offers, including a cash offer, and can close in as few as seven days.
Locations: Serves Minnesota, including Eagan and nearby 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+ rating. Minnesota Home Guys maintains a 4.8-star Google rating from over 130 reviews. A recent client expressed being impressed with the service received, describing their experience as friendly, honest, humble, and kind.
Website: homeguysmn.com
Phone number: 952-522-9775
Why sell your Eagan house for cash?
There are several compelling reasons why a home seller in Eagan might opt to work with a Cash-For-Homes company. Speed, certainty, and remarkable convenience are often touted as some of the primary benefits.
In Eagan, it typically takes around 94 days to sell a home on the market using an agent. That includes an average of 52 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 Eagan, 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 common situations where opting for a house-buying company might make sense:
- Quick relocation: Relocating unexpected for work means needing a fast sale without the long process of traditional home selling.
- During a divorce: Selling your home quickly can simplify the financial division.
- Managing an inherited property: Can be burdensome, especially if you live far away or lack resources to maintain it.
- Choosing to downsize: As you age, you might find a smaller home or a retirement community more suitable.
- Dealing with major repairs: If your home requires extensive repairs—like foundation issues—you might avoid the hassle and expense by selling for cash.
- Preferring privacy over open houses: If you prefer not to deal with the disruptions of open houses, selling directly for cash offers a private, quick alternative.
- Facing foreclosure: Selling for cash can be a swift solution to financial difficulties before foreclosure proceedings begin.
- Dealing with problem tenants: For landlords struggling with tenants, selling for cash can provide a clean break from rental properties.
- Selling from out of state: Managing a sale from afar can be challenging; a cash offer simplifies this process.
Pros and cons of house-buying companies in Eagan
When considering selling your home in Eagan to a house-buying company, it’s important to weigh the pros and cons.
House-buying companies in Eagan provide significant benefits for sellers looking for speed and convenience. Here are some of the key advantages:
- Quick closing: You can close the sale much faster compared to traditional methods, often within days or a few weeks.
- No repairs needed: Companies usually buy homes “as-is,” allowing you to skip repairs and sell your property in its current condition. More on selling as-is
- No need for showings: Selling to a house-buying company eliminates the need for multiple showings and open houses, reducing stress and intrusion.
- Simpler transactions: These sales often have fewer contingencies, making for a smoother and more predictable selling experience.
While there are benefits, there are also drawbacks. Here are the main concerns:
- Lower offers: Offers from house-buying companies are often below market value, which might not be the best financial outcome if you’re not in a hurry.
- Limited negotiation: The price offered is typically take-it-or-leave-it, with little room for negotiation.
- Potential for scams: It’s crucial to verify the credibility of the buyer, as the industry can attract scams.
- Less profit: You might end up with less profit compared to selling through an experienced real estate agent, especially in a favorable market.
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 “We Buy Houses for Cash” company in Eagan, it’s essential to ensure you’re dealing with a reputable buyer. Here’s how you can vet cash buyers and understand your home’s worth:
- Research the buyer: Check online reviews and testimonials to gauge the reputation of the company. A reliable buyer should have a solid track record and positive feedback from previous sellers.
- Understand market value: Know the market value of your home by comparing it with similar properties in Eagan. This knowledge will help you assess whether the cash offer is fair.
- Examine the agreement: Read the buying agreement carefully before signing. Ensure you understand all terms and conditions to avoid any surprises later.
- Seek professional advice: Consider consulting with a real estate attorney or an experienced agent to review the offer and agreement. This step can provide an extra layer of security and ensure that your interests are protected.
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 Eagan home quickly
Exploring alternative options for selling your home quickly can be beneficial, even beyond working directly with cash-for-homes companies:
iBuyers: iBuyers, or instant buyers, use automated valuation models (AVMs) to quickly assess home values and make cash offers.
These platforms, such as Opendoor and Offerpad, provide a speedy and efficient sale process, often closing within days through an iBuyer process that is mostly online. Though service fees typically range from 5%-6%, iBuyers often offer a price closer to market value for homes that are in good condition.
Listing with an agent: While slower than iBuyers or cash-for-homes companies, listing your property with a real estate agent can yield higher selling prices, especially in favorable market conditions.
Agents use comparative market analyses (CMAs)—often free—to determine the best listing price, enhancing the potential for a quick sale. If you decide to explore this option, HomeLight can connect you with top-performing agents in your area, potentially leading to cash offers that closely match your home’s market value.
FAQs on Eagan house-buying companies
By and large, most We Buy Houses for Cash companies in Eagan 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 Eagan 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 Eagan Ranch could sell for $360,000 after repairs, but it will need $30,000 of work to get there.
($360,000 x .70) – $30,000 = $222,000
In this example, an Eagan We Buy Houses company might offer you around $222,000 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 an Eagan 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.
- Research and vet the house-buying companies that serve your Eagan 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 Eagan vs. top Eagan 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 Eagan | Sell with a top Realtor in Eagan |
| Selling timeline | 7 to 30 days | 94 days average; 52 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 Eagan is worth about $360,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $385,000.
| Sell to a We Buy Houses for Cash company in Eagan | Sell with a top Realtor in Eagan | |
| Estimated sale price | ($385,000 x .70) – $25,000 = $244,500 | $360,000 |
| Market preparations | 0 | $3,600 (1% of sale price) |
| Agent commissions | 0 | $20,880 (5.8% of sale price) |
| Closing costs | 0 | $5,400 (1.5%) |
| Estimated take-home for seller | $244,500 | $330,120 |
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
Here are the key points to remember when considering selling your home to a cash-for-homes company in Eagan:
- Quick process: Cash-for-homes companies can close on your property quickly, often within days.
- No repairs needed: You can sell your house as-is, avoiding the cost and hassle of making repairs.
- Simple selling: This method eliminates the need for showings, staging, and lengthy negotiations.
- Consider alternatives: Weigh other selling options such as iBuyers or listing with an agent to potentially get a higher price for your home.
- 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 Eagan agent.
Header Image Source: (AndreyKr/DepositPhotos)
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.
