5 of the Top We Buy Houses for Cash Companies in Sioux Falls
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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.
Selling your home in Sioux Falls can feel overwhelming, especially if you’re dealing with an urgent timeline or a house that needs repairs. We Buy Houses companies offer an appealing solution: a fast, all-cash sale that allows you to skip the hassles of prepping your home for the market. These companies specialize in buying homes in as-is condition, providing a lifeline for sellers who need to move quickly.
Whether you’re facing an unexpected financial challenge, relocating for work, or handling an inherited property, a cash sale can help you secure proceeds promptly and move forward with your plans. Unlike traditional sales, this option removes the need for repairs, staging, and waiting for buyer financing.
In this guide, we’ll break down the pros and cons of working with We Buy Houses companies in Sioux Falls to help you make the right choice for your situation.
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Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Sioux Falls area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Sioux Falls
If you’re considering selling your Sioux Falls home to a house-buying company, knowing how the process works is helpful. These companies offer a straightforward and fast way to sell, often bypassing many of the typical real estate hurdles. Here’s a quick look at the basic steps involved.
- Contact the company: Reach out to a reputable house-buying company to express your interest in selling. You’ll typically need to provide basic details about your property.
- Schedule a property evaluation: The company will set up a time to visit your home and assess its condition. Some evaluations are even conducted virtually.
- Receive a cash offer: After reviewing your property, the company will present you with a no-obligation, all-cash offer for your home.
- Review the terms: Carefully review the offer and any associated terms or conditions to decide if it meets your needs.
- Sign the agreement: Once you’re satisfied with the offer, you’ll sign a purchase agreement to finalize the deal.
- Close and get paid: The company handles the paperwork and closing process, often completing the sale within days. You’ll receive your proceeds in cash or via a bank transfer.
Popular We Buy Houses for Cash companies in Sioux Falls
If the process of selling to a house-buying company in Sioux Falls 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’ Prairie or Cape Cod. By selling to one of these companies, you should be able to sell your Sioux Falls home in as little as a week or two.
Sioux Empire Home Buyers
Sioux Empire Home Buyers is a real estate solutions and investment firm that specializes in helping homeowners sell burdensome houses fast.
Locations: South Dakota and surrounding areas.
Closing costs: Sellers pay no closing costs; Sioux Empire Home Buyers cover them.
Sioux Empire Home Buyers has a 4.9-star rating on Google.
Website: siouxempirehomebuyers.com
Phone number: 605-640-5601
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Sioux Falls (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 Sioux Falls.
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 Sioux Falls
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
FAST Home Sales
FAST Home Sales is a home-buying company committed to helping homeowners sell their properties quickly and efficiently. They specialize in purchasing houses in any condition, offering cash deals to create stress-free transactions.
Locations: Sioux Falls and surrounding areas.
Closing costs: Sellers pay no closing costs; FAST Home Sales covers them.
FAST Home Sales has a 5.0-star rating on Google.
Website: fasthomesales.com
Phone number: 833-814-7355
Bigger Equity
BiggerEquity is a nationwide house-buying company that began operations in 2016. The company says it can make a cash offer in as little as seven minutes and close as quickly as seven days.
Locations: BiggerEquity buys houses throughout South Dakota. The company serves homeowners in all 50 U.S. states.
Closing costs: Sellers pay no closing costs; BiggerEquity covers them.
BiggerEquity has been BBB accredited since 2018 and holds an A+ rating and 4.8 stars on Google.
Website: biggerequity.com
Phone number: 866-333-8377
Priority Home Buyers
BiggerEquity is a nationwide house-buying company that began operations in 2016. The company says it can make a cash offer in as little as seven minutes and close as quickly as seven days.
Locations: BiggerEquity buys houses throughout South Dakota. The company serves homeowners in all 50 U.S. states.
Closing costs: Sellers pay no closing costs; BiggerEquity covers them.
BiggerEquity has been BBB accredited since 2018 and holds an A+ rating and 4.8 stars on Google.
Website: biggerequity.com
Phone number: 866-333-8377
Priority Home Buyers
Priority Home Buyers provides a fast, fair cash offer process, promising offers within one hour and closings in as little as seven days.
Locations: Nationwide, including Sioux Falls
Closing costs: Sellers pay no closing costs; Priority Home Buyers cover them.
Priority Home Buyers has been accredited by the Better Business Bureau (BBB) since 2023 and holds an A rating. The San Bernardino chapter also has a 5.0 Google star rating.
Website: priorityhomebuyers.com
Phone number: 877-399-1777
Why sell your Sioux Falls house for cash?
There are plenty of valid reasons a Sioux Falls home seller may choose to work with a Cash-For-Homes company. Speed, certainty, and remarkable convenience are some of the most common reasons sellers cite.
In Sioux Falls, it typically takes around 101 days to sell a home on the market using an agent. That includes an average of 57 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 Sioux Falls, 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 scenarios where this option could be a great fit.
- Job relocation: Relocating for a job often requires selling your home quickly, and a cash sale can ease the transition.
- Divorce: A cash sale during a divorce can simplify the process and avoid prolonged emotional stress.
- Inherited property: If you’ve inherited a home you don’t want to maintain, selling for cash can be a hassle-free solution.
- Downsizing: Moving to a smaller home or retirement community is easier with a fast cash sale.
- Repairs needed: When your home needs costly repairs, selling as-is can save time and money.
- Open houses stress: If you’d prefer to avoid open houses, cash buyers don’t require showings or staging.
- Foundation issues: Homes with foundation problems can be hard to sell traditionally, but cash buyers are often more flexible.
- Foreclosure risk: If you’re facing foreclosure, a quick cash sale can help protect your credit.
- Tenant challenges: Selling a rental property with tenants is simpler with cash buyers who may take it as-is.
- Selling from out of state: If you’re selling remotely, a cash sale can minimize complications.
Pros and cons of house-buying companies in Sioux Falls
House-buying companies offer a straightforward way to sell your home, often appealing to homeowners who need a fast sale. These companies buy homes as-is and eliminate the need for repairs or staging, making them convenient. Here’s a closer look at the advantages and drawbacks.
Pros of house-buying companies in Sioux Falls
The primary benefits of selling to a house-buying company are the speed of the sale and the ability to sell your home in any condition. This approach can be particularly helpful for homeowners facing time-sensitive situations.
- Sell as-is: These companies buy homes as-is, so you can skip repairs, updates, and cleaning.
- Quick closing: Most companies close in as little as a week, allowing you to move forward swiftly.
- No contingencies: You won’t deal with contingencies that might delay or derail a traditional sale.
- Fewer costs: You’ll avoid paying for agent commissions, staging, or closing costs in many cases.
Cons of house-buying companies in Sioux Falls
While the speed and simplicity are appealing, the trade-offs can be significant. The biggest drawback is that these companies typically offer below market value for your home, which might not align with your financial goals.
- Lower sale price: Offers are usually below market value, meaning you’ll net less compared to a traditional sale.
- Limited flexibility: The offer is often take-it-or-leave-it, leaving little room for negotiation.
- Risk of scams: Some companies operate unethically; always vet buyers carefully to avoid scams.
- No competitive offers: You won’t benefit from multiple offers or bidding wars that could increase your sale price.
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 We Buy Houses for Cash companies in Sioux Falls offer the same level of integrity and service. Your experience will depend on the character of the person or group making the offer, so it’s important to choose carefully. Before committing, take time to research the company thoroughly.
Check reviews, read testimonials, and evaluate the company’s presence and track record in the Sioux Falls market. Make sure the buying agreement is clear, and take note of any terms that could affect your final payout. A little due diligence can help ensure you’re working with a trustworthy buyer who offers a fair deal for your home.
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 Sioux Falls home quickly
iBuyers
iBuyers are instant buyers that use automated valuation models (AVMs) to offer fast, all-cash purchases for homes in good condition. The mostly online process, from offer to closing, typically takes a few days to two weeks. While iBuyers like Opendoor and Offerpad often offer closer to market value, they charge service fees of 5%-6%. Learn more about the iBuyer process.
Listing with an agent
Selling with a top real estate agent can also result in a quick sale, especially in a strong housing market. Agents can provide a comparative market analysis (CMA) — often free — to guide pricing and estimate timelines. Plus, agents may connect you with cash buyers offering closer to market value. HomeLight can connect you with a top-performing agent in your area to explore this option.
FAQs on Sioux Falls house-buying companies
By and large, most We Buy Houses for Cash companies in Sioux Falls 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 Sioux Falls 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 Sioux Falls Cape Cod 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 Sioux Falls 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 Sioux Falls 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 Sioux Falls 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 Sioux Falls vs. top Sioux Falls 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 Sioux Falls | Sell with a top Realtor in Sioux Falls |
| Selling timeline | 7 to 30 days | 101 days average; 57 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 Sioux Falls 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 Sioux Falls | Sell with a top Realtor in Sioux Falls | |
| 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
- Fast sales are possible: House-buying companies in Sioux Falls can close quickly, often in as little as a week, making them ideal for time-sensitive situations.
- No repairs needed: You can sell your home as-is, skipping the expense and hassle of repairs or staging.
- Lower sale price: Cash-for-homes companies typically offer below market value, which might not meet your financial goals.
- Vet buyers carefully: Research potential buyers to avoid scams and ensure you’re working with a legitimate company.
- Agents can help: A top agent can provide a comparative market analysis to help you understand your home’s market value and connect you with buyers.
- 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 Sioux Falls agent.
Header Image Source: (Binyamin Mellish/Pexels)
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