10 min read May 23, 2024

7 Best Companies That Buy Houses for Cash in Michigan in 2024

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Edited By

Jason Joshi

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Editor
Edited By

Jason Joshi

Editor, Houzeo
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Jason is a passionate content editor working at Houzeo. He has an eye for detail and keeps himself updated with the recent trends in the real estate market. He also likes to travel and explore places.

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2024 continues to be a bumpy ride with increasing home prices and declining home sales. But out of the 6,439 homes that sold last month, most of the transactions were all-cash. Cash is still king in Michigan’s housing market.

Getting a cash offer in the Wolverine State is easy, but getting top dollar is not. If you get a cash offer from a single cash home buyer, they will lowball you. That’s why you need to get cash offers from multiple local and national cash buyers. But how do you do that?

Answer: List on a Cash Marketplace! When you list on a cash buyer marketplace like Houzeo.com, your listing is syndicated to hundreds of real estate websites. So, you market your property to local and national cash home buyers looking for homes for sale in Michigan.

Companies that buy houses for cash in Michigan offer instant cash for homes. But, it may not always be the best cash offer for your home.

Some cash companies may get you 100% of your property’s fair market value, while others may offer as low as 50%. We’ve reviewed and ranked the 7 best cash home buyers in Michigan.

Reviews: 7 Best Companies That Buy Houses for Cash in Michigan

Here are the 7 best cash buyers in Michigan. Some of them may get you up to 100% of your property’s fair market value, while others may offer you as low as 30%. Here are the rankings of “We Buy Houses Cash Michigan” companies:

1. Houzeo.com: Michigan’s #1 Cash Home Buyer Marketplace

Max Exposure to Cash Buyers

Houzeo
Houzeo Logo
  • Service Fee: $399 Listing Fee
  • Available in 80+ U.S. Markets
  • 5 Stars 4.9/5 (7,800+ reviews)

Houzeo is the best option if you’re looking for multiple cash offers. Your MLS listing will be exposed to local and national cash buyers. In an attempt to win your property, investors could make multiple cash offers for your home.

  • Fee: Houzeo does not charge a 5% service fee or any undisclosed closing fee
    • $399: MLS Listing: 6-Months, 24 photos
    • $399+0.5% at Close: Maximum Photos, Premium Yard Sign
    • $429+0.5% at Close: Pricing Assistance, Contract Review, Real Estate Forms, Licensed Broker Assistance
    • $449+1% at Close: Virtual Full-Service with Licensed Broker, Offer Negotiations
  • Typical Offer: Up to 100% of your property’s fair market value (FMV).
  • Eligible Properties: On Houzeo Marketplace, you can market properties in any condition and sell your house as is.
  • Closing Offer Terms: You can specify your preferred closing date and the closing offer terms.

👉 Our Take: For sellers looking to maximize their cash offers, we recommend Houzeo’s Gold plan. You will have access to Houzeo’s advanced features to negotiate the best terms for your cash offer.

Houzeo is a real estate marketplace and America’s #1 Flat Fee MLS service because of 4 reasons:

  1. Max Exposure: Houzeo MLS packages give you access to the MLS and 100s of websites like Zillow, Trulia, Realtor.com, Redfin, etc.
  2. 5-Star Customer Service: Houzeo has a fully staffed customer service desk available 6 days a week. Chats and emails are open 7 days a week.
  3. 100% Online: Houzeo is high-tech. For you, this means easy listing, fast changes, online showings, and online offers. Houzeo Mobile App is also very powerful.
  4. No Listing Commission: In most states, you’ll be paying just a small flat fee to list on MLS. Houzeo covers 47 states + DC! And remember, all fees are disclosed upfront, so there are no Houzeo hidden fees. You get to bypass the listing agent commission!

There are no dealbreakers with Houzeo. Check out the blog on Houzeo pros and cons.

» Houzeo Reviews: Houzeo is rated “Excellent” with a 4.9 out of 5-star rating by 4,523 home sellers on Google and Trustpilot!

Houzeo is rated 4.9 out of 5 stars by thousands of home sellers on Google & Trustpilot.

With a typical cash house buyer, you only get an offer from that specific investor. On a cash buyer marketplace like Houzeo, you could receive multiple cash offers on your house. This increased number of cash offers can help you get up to 100% of your home’s value.

2. Jay Buys Detriot

Local Cash Buyer

Jay Buys Detroit
logo image
  • Service Fees: None
  • 5 Stars 5/5 (Out of 34 Reviews)

Jay Buys Detroit is a real estate solutions company that buys as-is houses for cash. They buy houses in any condition whether they are unfinished construction or inherited property.

  • Service Fee: None
  • Typical Offer: 50% to 70% of the property’s Fair Market Value (FMV)
  • Eligible Properties: All types of properties including houses facing foreclosure, vacant properties, unwanted inherited houses, quick divorce settling, and more.
  • Closing Offer Terms: They offer flexible closing terms anywhere between 7 to 30 days.

👉 Our Take: Jay Buys Detroit is a local cash home buyer with good customer reviews. However, if you opt for a flat fee MLS service in Detroit you can save more on commissions.

  • Instant Cash Offer: You can get a preliminary cash offer within 24 hours.
  • No Closing Costs: You need not pay any additional costs including closing costs. 
  • Quick Closing: You can close in as little as two weeks or at any date of your convenience.
  • No-Obligation Offer: You can expect a no-obligation cash offer after a home inspection, no matter the condition of your house.

» Pros and Cons of Jay Buys Detroit: Read further to know the advantages and disadvantages of Jay Buys Detroit.

In our research, we found major drawbacks of Jay Buys Detroit:

  • Lowball Cash Offer: Jay Buys Detroit’s cash offer is below market value, typically around 60% to 80% of the fair market value.
  • Non-Negotiable Cash Offers: As an investor, they may not offer more than 70% of your property’s fair market value. Even if your property isn’t distressed, they will rarely budge on the offer price.

Jay Buys Detroit has 5 out of 5 stars from 34 reviews on Google Reviews.

» Jay Buys Detroit Reviews: Know why it is not the best way to sell with Jay Buys Detroit in 2023.

Jay Buys Detroit is a local cash home buyer company. It was founded and run by Jay Halliburton, a real estate investor. They mainly buy distressed properties so the likelihood of you getting full home equity is less. However, they have good customer reviews from clients.

3. Connect Home Buyers

Good Coverage

Connect Home Buyers
Connect Homebuyers
  • Service Fees: None
  • 4.9 Stars 4.9/5 (Out of 25 Reviews)

Connect Home Buyers specialize in providing homeowners with a quick, simple, and hassle-free option to sell, ensuring a free cash offer in four hours or less. They buy houses in spite of any conditions and situations.

  • Service Fee: None
  • Typical Offer: 50% to 80% of Fair Market Value (FMV)
  • Eligible Properties: They buy all properties, including ones with structural issues, a death in the family, bad mortgage financing, inherited houses, high-crime neighborhoods, etc.
  • Closing Offer Terms: They offer flexible closing terms, anywhere between 7 to 30 days.

👉 Our Take: Connect Home Buyers provide complete transparency in the selling transaction. However, they only make offers way below the fair market value.

  • Quick Offer: You can get a preliminary offer within 24 hours of contact.
  • Flexible Closing: You can close in as little as two weeks or at any date of your choice.
  • Nationwide Coverage: They have nationwide coverage and buy houses in all 50 states of the US.
  • Sell As-Is: Connect Home Buyers will definitely buy your property no matter what the condition is.

» Pros and Cons of Connect Home Buyers: Here are some more pros and cons to go through.

Connect Home Buyers have some major drawbacks that you should know of:

  • Wholesale Real Estate Company: They are essentially wholesalers, a previous client complained about being unaware of this. If you have issues working with wholesale real estate companies we suggest to look elsewhere.
  • Connect Home Buyers is Not 100% Online: Connect Home Buyers has a limited tech stack. This means a lot of processes, like requesting a counteroffer or managing inspections, will be offline and manual. They don’t even have a mobile app.

Connect Home Buyers has 4.9 out of 5 stars with 31 reviews on Google Reviews.

» Connect Home Buyers vs. Houzeo: Find out which is the better choice for you.

Connect Home Buyers was founded by Brett and Arin Riggins in 2017. They have good reviews as they provide slightly offers on your home which can go up to 80% of homes FMV.

4. We Buy Ugly Houses

NATIONWIDE COVERAGE

We Buy Ugly Houses
We Buy Ugly Houses
  • Service Fee: None
  • Closing in 3 weeks
  • 2.5 Stars 2.3/5 (45+ reviews)

We Buy Ugly Houses is a 20-year-old cash home buyer franchise. Independent real estate investors own and run each franchisee office. The parent company trains the franchisee but doesn’t micromanage their cash home-buying preferences. The brand, We Buy Ugly Houses is owned by HomeVestors.

  • Service Fee: None
  • Typical Offer: 50% to 70% of Fair Market Value (FMV)
  • Eligible Properties: Ugly homes with structural issues, bad mortgage financing, inherited houses, high-crime neighborhoods, etc.
  • Closing Offer Terms: WeBuyUglyHouses provides a flexible closing date, up to 30 days out. Offer terms are subject to change based on the local franchisee office.

👉 Our Take: We Buy Ugly Houses is best for sellers who want to unload their distressed houses quickly. You shouldn’t expect more than 70% of your property’s market value.

  • Fast Cash Offers for Homes: WeBuyUglyHouses.com will share a preliminary cash offer for your property in 24 to 48 business hours.
  • Zero Service Fees: WeBuy Ugly Houses doesn’t charge any service fee in exchange for the convenience of selling your home for cash.
  • Fast Closing: We Buy Ugly Houses.com will close in just seven days after you accept their cash offer.
  • Firm Cash Offer: We Buy Ugly House’s cash offer is usually in line with the preliminary cash offer unless the inspector identifies major flaws during the home inspection.
  • Wide Coverage: We Buy Ugly Houses offers cash for homes in 1,100 locations across 45 states.

» We Buy Ugly Houses Review: How does WeBuyUglyHouses.com calculate your cash offer?

In our research, we found some We Buy Ugly Houses drawbacks.

  • Lowball Cash Offer: We Buy Ugly Houses pays less than what sellers could get on the open market. The cash offer is around 50% to 70% of the property’s fair market value.
  • WeBuyUgly Houses.com is Not 100% Online: We Buy Ugly has a limited tech stack. This means a lot of processes, like requesting a counteroffer or managing inspections, will be offline and manual. They don’t even have a mobile app.
  • Non-Negotiable Cash Offers: We Buy Ugly Houses will not offer more than 70% of your property’s fair market value. They rarely increase the price quoted in the initial cash offer.
  • Inconsistent Quality of Service: When you work with house buyers like WeBuy UglyHouses, you sell your house to a local real estate investor. The service quality will differ based on the independent investor you are dealing with.

We Buy Ugly Houses has 1.6 out of 5 stars with 9+ reviews on Yelp.

» We Buy Ugly Houses Complaints: Check what customers say about WeBuyUglyHouses.com.

We Buy Ugly Houses, a trademark of “HomeVestors,” operates on a franchisee model. Each WeBuyUglyHouses franchisee has its own rules, so the cash offer terms and service quality may not be consistent. If your house needs dire repairs, they make cash offers starting from 50% of its FMV.

» Selling a Home As Is in MichiganCheck out our guide for selling your Michigan house as is.

5. We Buy Houses

QUICK AND EASY SALES

We Buy Houses
Logo - We Buy Houses
  • Service Fee: None
  • Closing in 3 weeks
  • 2.6 Stars  2.33/5 ( 5+ reviews)

WeBuyHouses.com is a pre-vetted real estate investor network. We Buy Houses “thoroughly” vet their investors before authorizing them to operate independent offices in their respective jurisdictions.

  • Service Fee: None
  • Typical Offer: 50% to 70% of Fair Market Value (FMV)
  • Eligible Properties: Distressed properties with structural issues, relocation of the homeowner, couples going through a divorce, a death in the family, flawed mortgage financing, inherited homes, high-crime neighborhoods, etc.
  • Closing Offer Terms: We Buy Houses provides a flexible closing date, up to 60 days out. Offer terms are inflexible.

👉 Our Take: We Buy Houses operates on a franchise model, so the quality of service may differ. You should check the reviews of their local franchise before requesting cash for your home.

  • Fast Cash Offers for Houses: You will typically receive WeBuyHouses.com’s initial cash offer within two days.
  • Zero Service Fees: WeBuyHouses doesn’t charge any service fee in exchange for the convenience of selling your home for cash
  • Fast Closing: We Buy Houses.com will close in just seven days after you accept their cash offer.
  • Firm Cash Offer: We Buy Houses Com’s cash offer is usually in line with the preliminary cash offer unless the inspector identifies major flaws during the home inspection.
  • Broad Coverage: We Buy Houses makes cash offers on properties in 200 markets in over 30 states. WeBuyHouses com has 2,700 offices nationwide.
  • Zero Upfront Expenses: When selling to WeBuyHouses Com, you don’t need to prep the home or worry about repairs.

» What is “We Buy Houses”? To know more about them check this out.

  • Lowball Cash Offer: We Buy Houses investors may put in lowball cash offers around 50% to 70% of the fair market value. This is lower than what you can get on the open market.
  • WeBuyHouses.com is Not 100% Online: WeBuyHouses has a limited tech stack. This means a lot of processes, like requesting a counteroffer or managing inspections, will be offline and manual. We Buy Houses does not offer a mobile app.
  • Non-Negotiable Cash Offers: A ‘We Buy Houses’ investor may not offer more than 70% of your property’s fair market value. Even if your property isn’t distressed, they will rarely budge on the offer price.
  • Inconsistent Quality of Service: When you sell to a cash buyer franchise like WBH, you sell your house to a local real estate investor. The service quality will differ based on the independent investor you are dealing with.

» WeBuyHouses.com vs. Houzeo: Learn why Houzeo is better than “We Buy Houses”.

We Buy Houses has 2.33 stars out of 5 on Better Business Bureau from 5+ customer reviews.

» webuyhouses.com reviews: Check this out to know more about them.

WeBuyHouses.com is a group of real estate investors who buy properties as is for a lucrative flip. They are a good option if you want to sell your home fast for cash and your property only needs some cosmetic repairs.

6. ASAP Cash Home Buyers

LOCAL CASH BUYER

ASAP Cash Home Buyers
CCC-ASAP logo
  • Service Fee: None
  • 4.5stars 4.4/5 (10+ reviews)

ASAP Cash Home Buyers started their journey in 2013. They are a reputable cash buyer who refers their clients to credit and legal counseling services.

  • Service Fee: None
  • Typical Offer: 50% to 70% of the Fair Market Value (FMV)
  • Eligible Properties: Extremely distressed properties with structural issues, couples going through a divorce, a death in the family, bad mortgage financing, inherited houses, high-crime neighborhoods, empty lots, etc.
  • Closing Offer Terms: They provide a flexible closing date from 3 weeks to any date of your choosing.

👉 Our Take: ASAP Cash Home Buyers’ is a good choice if you want to save on repair costs. However, you have to settle for a price significantly below the fair market value.

» Pros and Cons of Asap Cash Home Buyers: Here’s everything you need to know.

  • Nationwide Coverage: ASAP Cash Home Buyers offers their services nationwide.
  • Flexible Closing Date: You can set a closing date as per your convenience.
  • No Hidden Costs: ASAP Cash Home Buyers have no undisclosed fees or hidden costs.
  • Sell As-Is: They buy houses as-is saving you repair and home staging costs.

Here are some drawbacks of ASAP Cash Home Buyers that we came across in our research:

  • Inconsistent Quality of Service: When you sell to a cash buyer franchise, you sell your house to a local real estate investor. The service quality will differ based on the independent investor you are dealing with.
  • No Commercial Properties: ASAP Cash Home Buyers are not interested in properties like timeshares, hotels, or rental communities.
  • Limited Customer Reviews: You cannot be sure about their service with only a handful of reviews on Google and nothing on other platforms.

ASAP Cash Home Buyers have a rating of 3.7 out of 5-stars with 10+ reviews on Google.

» ASAP Cash Home Buyer Review: Read our in-depth review.

 

 

ASAP Cash Home Buyers was founded in Fort Lauderdale, FL. With over a decade of experience, they provide all legal and financial support such as consultations on how to fix current bad debts, encumbrances on your property, etc.

They work with a network of investors in every state you. Your experience may differ based on the different investors or buyers at each place.

7. House Cashin

CASH HOME BUYER

House Cashin
CCC - House Cashin Logo
  • Service Fees: None
  • Offers made in 24 hours
  • 5 Stars 4.6/5 (20+ reviews)

House Cashin is an online platform that connects home sellers to credible real estate investors and other parties. You can receive multiple cash offers on your property within 24 hours.

  • Service Fee:  None
  • Typical Offer: 50% to 70% of Fair Market Value (FMV)
  • Eligible Properties: All types of distressed properties including damaged houses, inherited properties, and homes facing foreclosures, etc.
  • Closing Offer Terms: Once you accept an offer from an investor, they close within 3 to 30 days.

👉 Our Take: House Cashin is a company that connects homeowners with potential buyers. Since there are multiple offers, you can pick one at your convenience.

» What Is House Cashin: Read this to know more about the company.

  • Competitive Cash Offers: House Cashin can provide up to 5 no-obligation all-cash offers on your property within 24 hours.
  • Nationwide Coverage: House Cashin offers its services in all 50 states and Washington D.C.
  • Zero Service Charges: No commissions or closing costs.
  • Sell As Is: You can save on repair costs and sell your house as is.

» House Cashin Pros and ConsLearn more merits and demerits of House Cashin.

In our research, we came across some dealbreakers with House Cashin.

  • Inconsistent Quality of Service: The offers made on your property via House Cashin are by local real estate investors. The service quality will differ based on the independent investor you are dealing with.
  • Non-Negotiable Cash Offers: Although you receive multiple offers, no investor may offer more than 70% of your property’s fair market value. Even if your property isn’t distressed, they will rarely budge on the offer price.

House Cashin has 4.6 out of 5 stars on Trustpilot.

» House Cashin vs. HouzeoRead further to know why Houzeo is better than House Cashin.

House Cashin is an online platform that connects home sellers with real estate investors interested in buying property. They offer their services across all states. With a single request, you can receive up to 5 cash offers from reputable real estate investors in 24 hours.

Once you choose from the proposed offers, the investor will close on your property within 3 to 30 days.

Top “We Buy Houses in Michigan” Companies Near You

1. Detroit, MIWe Buy Houses for Cash in Detroit, MI

Are Companies That Buy Houses for Cash in Michigan Legit?

Yes, companies that buy houses for cash in Michigan are legitimate and operate legally nationwide. Cash house buyers will offer cash for your house to fix and flip for a profit. These are companies that buy homes as is.

🚨 Cash for Houses Scams: Remember to inspect how the cash company operates before you sign any real estate contract. A legitimate home buyer will never ask you to pay upfront costs!

Types of Cash Companies That Buy Homes in Michigan

Companies that buy homes for cash in Michigan help you skip the hassle of marketing, home staging, etc. There are 4 types of cash home buyers:

  • “We Buy Houses for Cash” Companies: These “fix-and-flip” house buyers buy distressed properties, make repairs, and sell them on the open market. Michigan cash home buyers pay 30% to 70% of the FMV and don’t have any service fees.
  • iBuyers: Such home-buying companies use proprietary algorithms to determine a cash offer for your house. In 2024, iBuyer’s cash offer for homes will range from ~70% to 80% of the fair market value.
  • Buy-and-Hold Cash Buyers: A buy-and-hold cash buyer in Michigan will convert a distressed house into a rental property. They do not sell the upgraded property for a one-time profit and will enjoy a steady source of income.
  • Home Trade-In Services: They are house flipping companies that will offer cash on your house to help you buy another property. They fund your next house while you sell your house for cash.

Companies that buy houses in Michigan wait for potential gold (such as your home) to hit the market. An ‘as is’ property with minimal repairs makes these companies buying a house for cash a big profit.

How to Sell to Companies That Buy Houses for Cash?

Here’s how you can sell your house for cash to get an offer from a Michigan cash house buyer:

  1. Share Your Property Details: Michigan cash buyers will collect basic information like the location and condition of your property. You can submit your property details on their website.
  2. Review the Preliminary Cash Offer: They will make an initial cash offer on your house after comparing similar properties in the area. Typically, they buy your house for 30% to 70% of your home’s fair market value.
  3. Complete the Home Inspection: The cash buyers for houses will perform an inspection if you accept the initial offer. After adjusting repair expenses and holding costs, they will send a final offer.
  4. Accept the Final Cash Offer and Close: If the company’s final cash offer for your house matches your expectations, then you can finalize the closing timeline.

» Sell My House Fast in Michigan: Check out 5 ways to sell your Michigan house fast in 2024.

How Much Do Michigan “We Buy Houses for Cash” Companies Pay?

Cash buyers for homes offer substantially lower prices, equivalent to 30% to 70% of the home’s After-Repair Value (ARV). The more repairs your home requires when selling a house for cash, the lower the price it would fetch.

For example, If your home’s value is $400,000 and you need a $50,000 roof replacement, the ARV will be $350,000. Since Michigan cash home buyers offer only 70% of the ARV, you will get an offer of about $245,000.

“We Buy Houses for Cash” Michigan: Pros and Cons

Are you considering selling your house fast for cash? Here are some pros and cons associated with cash buyers that you must account for:

✅ Pros

  • Fast Cash Sale: In the traditional model, you must list on the MLS and wait for potential buyers. However, with “We Buy Houses for Cash” companies, you get a cash offer within 24-48 hours of submitting your details on their website.
  • Flexible Closing: Cash home buyers in Michigan move faster than traditional buyers. Home sellers can close on their timeline and need not wait for listing paperwork.
  • No Service Fees: A Michigan cash home buyer doesn’t charge any service fee. The net profit after fixing and selling your home is enough for them to sustain their fix-and-flip model.

❌ Cons

  • Lowball Cash Offers: Cash companies that buy homes in Michigan generally pay 30% to 70% of the home’s fair market value. They deduct all repair, utility, and re-selling expenses of your home.
  • Non-Negotiable Deals: When dealing with “cash home buyer” companies, the deal is usually take-it-or-leave-it. You can try to negotiate if the company overlooked something important, but most cash companies will not budge on price.
  • Some Cash Buyers Will Make You Pay Closing Costs: Homeowners are forced to pay the seller’s closing costs, which are not disclosed on the cash buyer’s website. You should always read the terms and conditions document carefully.

» Estimate Seller Closing Costs in Michigan: Calculate the closing costs you incur as a Michigan home seller.

Alternatives to Companies That Buy Houses for Cash in Michigan

  • List Your Home With a Flat Fee MLS Service: You can get up to 100% of the cash for your home on the open market. High-tech For Sale By Owner websites in Michigan like Houzeo can help you sell your home for cash!
  • Hire a Top Realtor: Michigan Realtors can help you sell your property within a set timeline. However, the best Realtors will charge a 6% commission. That amounts to thousands of dollars!
  • Sell “For Sale By Owner”: Selling your home purely For Sale By Owner implies no access to the MLS. You market your property, conduct market research, manage offers and showings, etc., all by yourself.

Should You Sell to Companies That Buy Houses for Cash in Michigan?

Yes, but don’t settle for an offer from just a single cash home buyer.

Instead, list your home on Michigan’s #1 cash buyer marketplace – Houzeo. Your listing will be active in less than 24 hours. Moreover, you could receive cash offers from multiple cash buyers, ultimately driving up your final home price.

Check out how Houzeo works in this video:

What is Houzeo?

An overview of what the platform is all about

Start Your MLS Listing NOW!

» Houzeo Reviews: See how Houzeo home sellers save thousands with Houzeo technology and MLS exposure.

Frequently Asked Questions About Michigan Cash Buyers

Which is the best company that buys houses for cash in Michigan?

Houzeo is the most popular cash marketplace for selling homes for cash in Michigan. iBuyers like Opendoor and multiple cash buyers have extended offers on homes listed on Houzeo. You could receive multiple cash offers, increasing your home sale price.

How can you sell to companies that buy houses for cash?

You can sell directly to Michigan cash buyers or list on the Michigan MLS and receive multiple cash offers. When you sell to a cash buyer, you actively search for the best option. With an MLS listing, the best offer to comes to you.

How can I sell my house fast for cash in Michigan?

Opt for a cash buyer marketplace. “We Buy Houses for Cash” companies in Michigan are best for distressed homes. They will offer 30% to 70% of the FMV. An iBuyer has strict purchase criteria and may not offer more than 70% to 80% of FMV.

How fast can I sell my Michigan house?

You can sell your house in 7 to 30 days when selling to cash buyers in Michigan. Also, if you're looking for a new home before you sell your existing one, take a look at homes for sale near you.

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