Minnesota Home Guys is a cash for homes company. They purchase all kinds of properties in Minnesota. Furthermore, you get to choose from 3 cash offers within 24 hours.
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Pros
- You get 3 cash offers to choose from.
- You close in as little as 7 days.
- You sell as-is without any repairs.
- You pay no closings costs and title fees.
Cons
- You get just 50% - 70% of your home's FMV.
- You can sell only in one area.
Minnesota Home Guys is a local buyer based in Bloomington. You can sell any property to them including distressed ones. So, you need not worry about spending a minimum of $4,000 on major house repairs in Minnesota.
Unlike most cash buyers that extend a single offer, Minnesota Home Guys makes 3 cash offers within 24 hours. This puts you in a better position to choose a good deal for your property.
Furthermore, you get to close in as little as 7 days with them. This can be helpful if you’re on a time crunch. However, their fast closing could fetch you a lower price for your property.
Therefore, we recommend you explore smarter options to sell your Minnesota property. A cash buyer marketplace, for instance, provides you with multiple cash offers instead of just 3. As a result of this exposure, you are in the best position to secure the highest possible deal.
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✍️ Editor’s Take: List with a cash-buyer marketplace like Houzeo. You can list your home on the MLS within 24 hours with Houzeo, maximizing exposure for your home. This allows you to select the best deal from multiple cash offers. Compare Minnesota Home Guys vs. Houzeo.
Is Minnesota Home Guys Legit?
Yes, Minnesota Home Guys is a legitimate buyer. Jaden Ghylin and James Kolde are the founders of this company. They have 19 and 20+ years of real estate experience respectively.
Minnesota Home Guys is an A+ BBB-accredited company since 2017. Additionally, they have many positive reviews on credible sources like Google.
What Types of Properties Minnesota Home Guys Purchases?
Minnesota Home Guys as a cash buyer purchases all kinds of homes like:
- Inherited properties
- Properties with structural damages
- Hoarder houses
- Homes with probate
- Rental properties with tiresome tenants
- Properties facing foreclosure
MN Home Guys Coverage
Minnesota Home Guys is a local cash buyer. They purchase properties only in some cities in Minnesota. Although they have limited coverage, their knowledge of real estate is quite extensive.
Minnesota Home Guys: Selling Process
You need to follow 4 steps to sell to Minnesota Home Guys which are:
- Get in Touch: Connect with Minnesota Home Guys by filling out a form. You can also call them on the number mentioned on their website.
- Set up an Appointment: If your home meets their eligibility criteria, set an appointment with the company.
- Review the Offers: Minnesota Home Guys extends 3 cash offers for you to review. Take a look at the price and the terms of sale of each cash offer.
- Close Flexibly: If you wish to go ahead with one of the offers, you can choose your preferred closing date.
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🌟 Skip Multiple Showings Selling with cash buyers typically results in just one showing, compared to 10-40 showings with an agent. With Minnesota Home Guys, you can expect a similar streamlined process.
Minnesota Home Guys Payout
Minnesota Home Guys, like many cash buyers, usually offers 50% – 70% of your home’s fair market value. For instance, if your home is valued at $500,000, you can expect to receive around $250,000 – $350,000 from them.
You don’t have to pay any closing costs, commissions, and title fees when selling to Minnesota Home Guys. However, you are responsible for covering transfer tax and prorated property tax.
Minnesota Home Guys: Reviews and Ratings
Minnesota Home Guys has 4.9 out of 5 stars across 128 Google reviews. Furthermore, they have been rated 4.88 out of 5 based on 33 BBB reviews.
We noticed that customers praise Minnesota Home Guys for their straightforward buying process. However, some criticize them for occasional delays in closing.
Praises
✅ Charlotte G appreciates the company’s easy-to-follow selling process. She feels the staff was professional and straightforward during the sale.
The process was easy & closing was fast. The staff was very professional & straight forward about how the process works & had offer in 24 hours. Staff was available for any additional question. The purchase agreement was straightforward and easy to read at only 3 pages. Would highly recommend. Great customer service & communication. Kay & Joel were great.
Source: BBB
✅ Sona Johnson enjoyed working with Minnesota Home Guys. They feel that the selling process was smooth and easy to follow.
I thoroughly enjoyed working with Minnesota Home Guys as they made the process smooth and easy with buying my older home that needed work, plus Brad also served as my son’s & my real estate agent helping us find the townhome we wanted! Very seamless & smooth process, plus I felt they were very fair with the price they paid for my home. Plus being able to leave behind what we didn’t need–made it very easy for us! I would highly recommend this company!
Source: Google
Complaints
❌ M Lonnee expressed their agitated with the delay in closing. Furthermore, the presented offer was not as per their expectations.
We were told we’d have an offer in 48 hours. It was over a week later. Then we were low balled so bad, it was like they wanted us to give them the house. It was less than half the value!
Source: Google
❌ Diane M did not like the presented cash offer. They feel the company lowballed them. As a result, they can’t trust working with them.
Called them to give us an all cash offer on our townhouse in Coon Rapids, MN. Their offer was half or less of what we could get selling it through a realtor. Dan was a nice guy but I was extremely insulted by his offer. He’s a realtor as well and offered to help us sell it but after the insulting offer he made I wouldn’t trust him to represent me with anything. I can see a company making $30-40,000 profit on a house in this hot market we’re in, but over $100,000 is utter greed
Source: Google
Minnesota Home Guys Reviews: Pros and Cons
Minnesota Home Guys is a convenient option for sellers who need cash fast. However, their pros and cons paint a clearer picture:
👍 Pros
- Sell As-Is: Minnesota Home Guys purchases homes as-is. So, even if your property needs heavy repairs, you will get a cash offer.
- Close Fast: Minnesota Home Guys closes in as little as 7 days. However, their timeline is flexible. They let you close on your desired closing date.
- Sell to an Expert: Minnesota Home Guys primarily buys houses only in some Minnesota cities. However, they have extensive knowledge of real estate. So, you can be sure of selling to an expert buyer.
- Pay No Costs: You pay no repair costs, commissions, and title fees. So, your net proceeds could be more.
👎 Cons
- Lowball Cash Offers: You could get an offer price that may be much lower than the market price of your property.
- Limited Coverage: Minnesota Home Guys caters to sellers in Minnesota only. So, sellers in other parts of the country may not be able to avail of their services.
Competitor Analysis
Here are some potential competitors of Minnesota Home Guys. We have selected them based on value, coverage, and home eligibility criteria.
» Jump to: Minnesota Home Guys vs. Houzeo | Minnesota Home Guys vs. We Buy Houses | Minnesota Home Guys vs. Opendoor
1. Value: Minnesota Home Guys vs. Houzeo
Minnesota Home Guys is a cash buyer that purchases distressed properties. It is simple to sell your home to them Minnesota Home Guys. This convenience, however, costs you thousands of dollars as you may get a lowball cash offer.
Houzeo, on the other hand, is a cash buyer marketplace. You get multiple cash offers from local and national buyers. As a result, you are in a better position to secure top-dollar deals.
| Minnesota Home Guys | Houzeo | |
|---|---|---|
| Sale Price | 50% to 70% of FMV | Up to 100% of FMV |
| Customer Rating | 4.9 stars (128 reviews) | 4.9 stars (7,000+ reviews) |
| Closing Timeline | 7 days | 2 to 60 days |
| Fees | ❌ | $399 onwards |
| Closing Costs | ❌ | 0% to 1% Closing Costs |
| Scope for Negotiation | ❌ | ✅ |
| Repair Costs | ❌ | ✅ |
2. Coverage: Minnesota Home Guys vs. We Buy Houses
Minnesota Home Guys purchases homes in specific Minnesota cities only. If you’re outside these areas, their services aren’t available to you.
We Buy Houses is a well-known cash buyer that works in collaboration with investors. They have nationwide coverage. So, you can sell to them from wherever you want. However, they do not have many reviews on credible websites.
3. Home Eligibility Criteria: Minnesota Home Guys vs. Opendoor
MHG, buys all types of properties. You can even sell your distressed property to them without making any repairs.
Opendoor, on the other hand, is one of the largest iBuyers in the US. They offer around 70% – 80% of your home’s FMV. However, you cannot sell any type of property to them i.e. they have strict home eligibility criteria.
“We Buy Houses for Cash” Companies Near Me 🔍
There are other “We Buy Houses As Is” companies in the market. You can request an offer from multiple cash companies and pick the one that suits you the best.
Other Options You Should Consider
- Sell For Sale By Owner: For Sale By Owner websites help you list and sell a house yourself, saving thousands in agent commissions. Around one-third of home buyers pay in cash. Hence, selling FSBO helps you to get 100% FMV of your house in cash.
- Sell Through a Realtor: Traditional Realtors list your property on the MLS and help you at every step of home selling. However, you have to pay them 3% of the home’s sale price for this convenience.
- Sell Through Discount Realtors: Discount real estate brokers reduce their commissions to offer affordable services. Their commission varies between 0.5% and 2%.
Minnesota Home Guys Reviews: Should You Sell Your House to Them?
Yes, you can opt for Minnesota Home Guys if you wish to sell your distressed property fast. They extend 3 cash offers instead of just one. Furthermore, you can close in as little as 7 days with them.
You don’t have any obligation to accept the offers. If you don’t like them, you can simply move ahead with other cash buyers and marketplaces.
Houzeo, for instance, is a marketplace that gets you multiple offers from all over the US. As a result, your chances of securing a top-dollar deal increase. Moreover, you can sell from anywhere as Houzeo covers 47 states and Washington, DC.
» Houzeo Reviews: Read what 7,800+ customers have to say about Houzeo.
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Frequently Asked Questions
1. Is Minnesota Home Guys legit?
Yes, Minnesota Home Guys is a legitimate company founded by Jaden Ghylin and James Kolde. They have significant experience in the real estate industry. According to their website, they have bought over 500 homes. Learn more about them here.
What are some competitors of Minnesota Home Guys?
Minnesota Home Guys has various potential competitors. We have selected the competitors based on three metrics: value, coverage, and home eligibility criteria. If you wish to see if Minnesota Home Guys is better than their competitors, click here.
How many offers do you get with Minnesota Home Guys?
Unlike most cash buyers, Minnesota Home Guys offers you 3 cash offers to choose from. You can review each offer on its price and terms of sale. However, you might still get a lower price for your property.
(1 Reviews)
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Sharron
Verified Reviewer
22nd Feb 2024
Great experience with Minnesota Home Guys! The Acquisition Specialist, Tom Dawson, was friendly, honest, humble, and professional! He did an excellent job explaining the process , set the expectations upfront, and promptly provided his offer when promised. Really appreciate excellent service from Tom!
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