We Buy Houses Fargo: Top 3 Companies
- 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.
Selling your Fargo home quickly can feel overwhelming, especially if repairs or time constraints are in the way. We Buy Houses companies offer a solution with fast, all-cash offers, often purchasing homes as-is.
A cash sale provides speed and simplicity for homeowners facing urgent situations or unexpected challenges. You can skip the repairs, showings, and drawn-out processes while focusing on your next steps.
This guide breaks down the pros and cons of working with these companies, provides tips for vetting buyers, and provides other options for a quick home sale in Fargo.
Sell Your House Fast in Fargo 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 Fargo.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Fargo area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Fargo
Selling your home to a house-buying company in Fargo can be a straightforward way to get cash fast. Here’s how it works:
1. Contact the company: Reach out to a house-buying company in Fargo through their website or phone to share basic details about your home.
2. Schedule a home evaluation: Set up an appointment for the company to assess your property, often within 24-48 hours.
3. Receive an offer: After the evaluation, the company will present you with a no-obligation cash offer, typically valid for a short period.
4. Accept the offer: If you’re satisfied with the terms, accept the offer to move forward.
5. Close on the sale: Choose a closing date that works for you, often as soon as 7-14 days.
6. Get paid: At closing, sign the final paperwork and receive your cash payment.
Popular We Buy Houses for Cash companies in Fargo
If the process of selling to a house-buying company in Fargo 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 or Farmhouse. By selling to one of these companies, you should be able to sell your Fargo home in as little as a week or two.
The Property Company
Founded in Fargo, The Property Company specializes in buying both fixer-upper and well-maintained homes. With a passion for transforming properties, they offer fast, all-cash deals for quick sales and guarantee fair offers.
Locations: Fargo and surrounding areas
Closing costs: Sellers pay no closing costs; The Property Company covers them.
They have a Google rating of 5 stars based on 36 reviews.
Website: thepropertycompanyfm.com
Phone number: 701-566-9142
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Fargo (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 Fargo.
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 Fargo
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
Fargo Home Buyers
Fargo Home Buyers specializes in buying all types of houses, including expired MLS listings, for-sale-by-owner properties, inherited homes, vacant properties, and unwanted rental homes.
Locations: Fargo and surrounding areas
Closing costs: Sellers pay no closing costs; Fargo Home Buyers covers them.
They have a Google rating of 4.3 out of 5 stars.
Website: fargohomebuyers.com
Phone number: 701-205-5779
Why sell your Fargo house for cash?
There are plenty of valid reasons a Fargo home seller may choose to work with a Cash-For-Homes company. Speed, certainty, and remarkable convenience are some of the primary reasons sellers often cite.
In Fargo, it typically takes around 75 days to sell a home on the market using an agent. That includes an average of 31 days on the market plus the typical 44 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 Fargo, 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 common scenarios where this option might work well:
- Job relocation: You need to move quickly for a new job and don’t have time for a lengthy sale.
- Divorce: Selling your home can simplify the process during a divorce and help you move forward.
- Inherited: You’ve inherited a property you don’t want to keep and need a quick solution.
- Downsizing: You’re ready to downsize and avoid the hassle of preparing the home for a traditional sale.
- Repairs: Your home needs repairs that are costly or time-consuming to handle.
- Open houses: You want to skip the inconvenience and stress of hosting open houses.
- Foundation: Your home has foundation issues that might deter buyers.
- Foreclosure: You’re facing foreclosure and need to sell quickly to protect your equity.
- Tenants: You’re selling a property with tenants who make showings challenging.
- Selling from out of state: Managing a sale from another state feels overwhelming, and a cash sale simplifies the process.
Pros and cons of house-buying companies in Fargo
Selling to a house-buying company in Fargo can be a quick and convenient option, especially if your home needs repairs or you’re pressed for time. Below, we’ll explore the key pros and cons to help you decide if this route is right for you.
Pros of house-buying companies in Fargo
One of the biggest advantages of selling to a house-buying company is the speed of the process and the ability to sell your home as-is. You don’t need to make repairs or prepare your home for showings. Here’s a closer look at the benefits:
- Quick process: You can typically close within 7-14 days, making this an ideal option if you need to sell your home fast.
- No repairs: House-buying companies purchase properties as-is, saving you the cost and hassle of fixing issues before selling.
- No staging or showings: Skip the time and effort of preparing your home for open houses or frequent showings.
- Certainty of sale: Offers are often guaranteed without contingencies, reducing the risk of delays or the deal falling through.
Cons of house-buying companies in Fargo
While house-buying companies offer convenience, the biggest downside is that you’ll likely receive an offer that’s below market value. Here are other potential drawbacks to consider:
- Lower offers: These companies typically offer less than you’d get by listing your home with a real estate agent.
- Limited negotiation: Offers are often “take it or leave it,” leaving you little room to advocate for a better price.
- Potential scams: The market includes legitimate buyers, but there are also risks of scams.
- No market exposure: Your home won’t reach potential buyers who may be willing to pay more.
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
Not all cash-buying companies operate with the same level of integrity or professionalism. Before you commit to an offer, follow these steps to ensure you’re working with a trustworthy buyer and getting a fair deal:
- Research the company: Look up reviews, read testimonials, and evaluate their reputation in the market to understand how they’ve treated other sellers.
- Check credentials: Verify that the company is licensed, accredited, and has an established presence in your area.
- Request references: Ask for referrals or examples of previous transactions to gauge their reliability and service quality.
- Review the contract: Read the buying agreement carefully, ensuring you understand every term and condition 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 Fargo home quickly
If selling to a house-buying company isn’t the right fit, consider these alternatives for a fast home sale:
- iBuyers: These companies, like Opendoor and Offerpad, use automated valuation models to provide near-instant cash offers, often closer to market value. The iBuyer process is mostly online and suits homes in good condition. Expect service fees of 5%-6%.
- Listing with an agent: A top agent can help you sell quickly by pricing your home strategically and marketing it effectively. Agents also provide a comparative market analysis, often for free, to determine your home’s value. HomeLight can connect you with proven professionals who may even have cash buyer connections.
FAQs on Fargo house-buying companies
By and large, most We Buy Houses for Cash companies in Fargo 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 Fargo 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 Fargo Ranch could sell for $350,000 after repairs, but it will need $30,000 of work to get there.
($350,000 x .70) – $30,000 = $215,000
In this example, a Fargo 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 Fargo 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 Fargo 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 Fargo vs. top Fargo 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 Fargo | Sell with a top Realtor in Fargo |
| Selling timeline | 7 to 30 days | 75 days average; 31 to attract an offer, 44 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 Fargo is worth about $300,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $325,000.
| Sell to a We Buy Houses for Cash company in Fargo | Sell with a top Realtor in Fargo | |
| Estimated sale price | ($325,000 x .70) – $25,000 = $202,500 | $300,000 |
| Market preparations | 0 | $3,000 (1% of sale price) |
| Agent commissions | 0 | $9,000 (3% of sale price) |
| Closing costs | 0 | $4,500 (1.5%) |
| Estimated take-home for seller | $202,500 | $283,500 |
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
When considering selling your Fargo home to a Cash-For-Homes company, keep these key points in mind:
- Speed and convenience: House-buying companies can close quickly and eliminate the need for repairs or showings, making them a good option for urgent sales.
- Lower offers: Expect offers that are below market value, as these companies prioritize quick resale and profit.
- No repairs needed: Selling your home as-is can save you time and money, but be prepared to accept a reduced price.
- Research is essential: Vet potential buyers thoroughly, checking reviews and credentials to ensure you’re working with a reputable company.
- Know your home’s value: Equip yourself with comprehensive knowledge. Obtain a comparative market analysis to determine the worth of your Fargo home, ensuring you’re making an informed decision.
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 Fargo agent.
Header Image Source: (Kindel Media/ Pexels)
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.