Ready to sell your Wisconsin home? You can go the traditional route, hiring a local real estate agent to list the home on the market. But homes here can take a while to sell — they spent more than a month on the market before going into contract in May, according to Redfin data.
If you’re in a hurry to relocate, it’s worth considering companies that buy houses in Wisconsin for cash. These companies move fast and don’t require you to do anything to get the property market-ready, offering a quick and hassle-free sale. However, there is a caveat: You likely won’t get as high a price as you would if you sold the traditional way. Here’s what to know about “we buy houses” companies in Wisconsin, and what to expect if you sell to one.
How do ‘we buy houses’ companies work?
These companies present themselves as a quicker and simpler alternative to the typical real estate sale, and that’s certainly true. They pay in cash, which means they can move fast without waiting on financing or lenders — most firms can close the entire deal within a week or two. And they generally purchase homes “as is,” meaning you don’t need to make repairs or even tidy up. That’s because their business model is to fix-and-flip: They renovate the homes they buy and then resell them for a profit.
The top benefits for the seller are speed and an assured sale: There’s no waiting and wondering, no negotiating back-and-forth, no requests for seller concessions. There are usually no commissions, fees or closing costs, either. However, these companies typically operate with narrow profit margins, which limits their capacity to offer top-tier prices. As a result, the offer you receive is likely to be lower than you’d get on the open market — sometimes much lower.
While each “we buy houses” company is unique, most follow the same basic process:
- You contact them online or by phone, providing your address and some basic info about the property.
- Most companies will then send a representative to evaluate your property in person.
- After this evaluation — sometimes immediately, sometimes within 24 or 48 hours — they will extend a cash offer. You are under no obligation to accept, but don’t spend too much time deciding because the offer often expires relatively quickly.
- If you do accept the offer, review all the paperwork very carefully, and make sure you understand all the details before you sign anything.
- Finally, you choose a closing date. Most companies allow you to choose a date that’s convenient for you, and if you’re really in a rush, many can close within a week.
Types of companies that buy houses for cash in Wisconsin
If you want to sell your Wisconsin home for cash, you have several options to choose from. While neither of the biggest iBuyers in the business (Opendoor and Offerpad) buy homes in the Badger State, there are multiple local and national companies that do:
Nationwide options
Two of the biggest national names in cash-homebuying operate local franchises in Wisconsin. We Buy Houses has branches in many markets, including Kenosha, Eau Claire and Superior, while HomeVestors — often called the “We Buy Ugly Houses” company — operates in Milwaukee, Madison, La Crosse/Eau Claire, Green Bay and Superior. Both companies will make you a cash offer after an in-person evaluation, and both can close within a few weeks or less.
Local options
If you prefer a smaller, local company, consider these companies that buy houses in Wisconsin:
- I Buy WI: This Green Bay–based company has been buying homes in Northeast Wisconsin since 2016. It makes offers within 24 hours and can close in as little as seven days.
- Cream City Home Buyers: Operating in Milwaukee, this operation rents out the homes they buy instead of reselling them. They make offers within 24-48 hours.
- Wisconsin House Buyers: This father-and-son business in the Madison area makes offers within 24 hours and lets you choose your closing date.
-
CB Home Solutions: Based in Oshkosh and also family-owned, this option can close in as little as 14 days and also lets you close on your schedule.
Alternatives
If you’re ready to give up your house in Wisconsin, a cash-homebuying company is not your only option. Here are some alternatives to consider:
- Use a Realtor: Things won’t move as fast — Wisconsin homes spent a median of 42 days on the market in May before going into contract, per Redfin — but if you have the time, hiring a local real estate agent who knows your area well is still the best way to earn top dollar on your home sale.
- Sell it on your own: Selling your property yourself through a for-sale-by-owner approach lets you save money by not paying a listing agent’s commission. The amount can be significant: The median price for a Wisconsin home in May was $323,900, per Redfin, and a typical 2.5 percent commission on that comes to more than $8,000. However, you’ll have to do everything an agent would normally do, which is a lot of work.
- Rent it out instead: Don’t need the cash from a sale ASAP? Explore renting out your home rather then selling it. Houses in the state bring in a median of $1,875 per month, according to Zillow Rental Manager.
Next steps
Before diving into any agreement with a “we buy houses” company, it’s crucial to weigh the pros and cons carefully. Keep in mind that opting for this route often means accepting a significantly lower offer compared to what you might get through a conventional listing. Do your research on any company you work with, checking online reviews and Better Business Bureau accreditation. If you find a company you like and speed is of the essence, your next step is to reach out for a free offer. But if you’d prefer to sell for the highest price possible, no matter how long it takes, reach out to a local real estate agent instead.
FAQs
-
If you’re in a hurry to sell, the fastest method is to reach out to companies that buy houses in Wisconsin for cash. These outfits specialize in providing quick offers and streamlining the closing process — they can often close the entire deal within a week or two. A sale on the open market typically takes longer than a month to go into contract, after which you have to wait for your buyer’s financing to be approved before you can close.
-
Yes, most “we buy houses” companies are legitimate real estate firms whose business model is to buy houses, renovate them and resell them for a profit. But some operators may engage in questionable practices or target vulnerable or desperate homeowners. Before proceeding with any transaction, thoroughly investigate the company’s background, reputation, online feedback and Better Business Bureau rating.
Read the full article here
