We Buy Houses companies in South Dakota offer cash to homeowners that need to sell quickly. We reviewed the top South Dakota We Buy Houses companies so you can shop around for an offer and make an informed decision.
🔑 Key Takeaways
Top South Dakota We Buy Houses companies reviews
We Buy Houses companies and other cash buyers allow you to sell your home fast — sometimes in a week or less. We've pulled together some of your best options in South Dakota.
However, if you can wait longer than two weeks, you can sell your home for top dollar with a realtor — not the 70% value that most cash buyers offer. And, with companies like Clever, you can net even more from your sale with their pre-negotiated low commission rates.
A free consultation with a member of Clever's Concierge Team can help you assess your situation and find an agent who's experienced at selling homes quickly in South Dakota.
✍️ Editor’s note
The information in the reviews below is publicly available. Unfortunately, though, We Buy Houses companies are not particularly transparent or willing to share information with non-clients.
Time to Offer
Minimum Closing Time
No cost for seller
We Buy Ugly Houses has a better reputation than most individual cash buyers, but the home seller's experience can vary based on the quality of their local franchise. While We Buy Ugly House can close in as little as three weeks, it's common knowledge that they pay far less than fair market value.
- Trusted, nationally recognized brand.
- No need to worry about repairs.
- Close in just three weeks.
- Quality of service may vary between franchises.
- Pays far less than fair market value.
We Buy Ugly Houses has over 800 independently owned and operated franchises across 46 states.
As of April 26, 2021, We Buy Ugly Houses's parent company, Homevestors, has an A+ rating on the Better Business Bureau. No other third-party reviews are available at this time.
This rating is based on overall national data. Research local franchises for specific reviews that reflect their quality of service.
- Website: https://www.webuyuglyhouses.com/
- Phone Number: 866-200-6475
Time to Offer
Time to Sale
ASAP Cash Home Buyers is a national service that partners with local investors. In general, you can sell your house to ASAP Cash Home Buyers by:
- Filling out the initial online assessment
- Receiving an in-depth property analysis and valuation, plus a no-obligation cash offer
- Considering the offer as long as necessary, no time restrictions
- Closing within a week, or on your own schedule
You should connect with the local partner or franchise to get more details on how you can sell your home. Also know that experiences will vary from region to region, based on the local investor you’re paired with.
ASAP Cash Home Buyers provides local services in all 50 states.
As of May 2021, ASAP Cash Home Buyers has an average rating of 5/5 based on two customer reviews.
- Google: 5/5 (2 reviews)
Time to Offer
Time to Sale
Fast Home Offer is a national service that has partnered with local investors across the country to buy houses for cash.
Steps to sell with Fast Home Offer:
- Submit a form on Fast Home Offer's website, and a local investor will contact you to gather more information about your home
- It's possible that a cash offer can be made on the phone, but if not, schedule a visit for the investor to view the property. After the property is evaluated, the investor may present an offer
- Once an offer is accepted, a closing date can be set within 7-14 days, depending on your individual situation
Fast Home Offer has partnered with local investors in the following states:
As of May 2021, Fast Home Offer has an A+ rating on the Better Business Bureau.
Time to Offer
Time to Sale
Solid Rock Properties is a local, South Dakota property investor that buys homes for cash in select cities across the state. To sell your home to Solid Rock Properties, you can:
- Send them your information so they can determine your eligibility
- If you are deemed eligible for a quick home purchase, meet in person to receive a cash offer after an on-site appraisal
- Close in as little as 7 days, or on your schedule
Solid Rock Properties buys houses in and around Sioux Falls, South Dakota.
Time to Offer
Time to Sale
Finally Sold is a national service that has partnered with local investors across the country to buy houses for cash.
Steps to sell with Finally Sold:
- Call Finally Sold's toll free line or submit a form on Finally Sold's website to schedule a visit with a home buying consultant
- Meet with the Finally Sold consultant at the scheduled time and show your home. This process can be done in as little as fifteen minutes, and no repairs beforehand are needed
- Sit down with the Finally Sold consultant to discuss options to sell your home. If the consultant believes your home is worth investing in, they will present a cash offer
- If you accept the offer, you will immediately be given the proper paperwork, and you will be asked to schedule a date to close on the sale
- Sign the proper paperwork at the time of closing and receive your payment
Finally Sold has partnered with local investors in the following states:
What is a We Buy Houses company?
We Buy Houses companies and other cash buyers offer a fast solution for homeowners. They purchase houses “as-is” — that is, in their current condition, without any repairs or prep — and pay in cash.
These companies exist because the traditional home selling process doesn’t work for everyone. For example, in South Dakota, a typical home sale can take 93 days from listing to closing. Some homeowners can’t wait that long.
Further, these companies are another option for sellers with homes in such poor condition that they wouldn't qualify for financing from traditional buyers.
When to use a We Buy Houses company
For home sellers who need to sell in a hurry, want to avoid paying for repairs out of pocket, or are looking for a more convenient selling method, a cash buyer can be a great option.
But they're not right for everyone.
To ensure a profit, We Buy Houses for Cash companies in South Dakota make offers that are well under fair market value — about 30% less. On a $250,000 home, that means you'd lose out on around $75,000.
Put simply, the speed and convenience these companies offer don't always outweigh the hit you'll take to your bottom line. In many cases, you’re better off working with a full-service real estate agent on the open market to get the most value for your home.
Make more money selling your house!
Clever can match you with a full-service agent so you can sell fast and get top dollar for your home.
How a We Buy Houses company works
While the smaller details and timeline vary from company to company, We Buy Houses companies in South Dakota all share the same basic business model.
- An interested home seller reaches out directly to the cash buyer company
- The company assesses the property, focusing on factors like necessary repairs and potential resale value
- Based on the amount of time and money it will to need to invest in the property, the company makes an "as-is" cash offer
- If the homeowner accepts, the deal closes quickly because there's no need to negotiate, wait for financing approval, or inspect and appraise the property
- The cash buyer repairs the home and then resells it for a profit
The quick process benefits homeowners who don't have the resources or time for a traditional sale.
For perspective, according to realtor.com, houses typically spend 48 days on the market in South Dakota before the seller accepts an offer. Then there's the closing process, which takes between 30 to 45 days if the buyer is applying for a mortgage. That means it can take the typical seller up to 93 days to finalize the sale.
In comparison, some We Buy Houses for Cash companies in South Dakota can complete the whole process in as few as seven days.
Cash Buyer Process
Prepping the House
Days to months, depending on the condition
None — these companies buy homes "as-is"
Time to Offer
2 days or fewer
7 days or fewer
Ballpark vs. official offers
Many South Dakota We Buy Houses companies advertise that they'll send you an offer in as few as seven minutes. This is not an official offer.
After talking to a company representative, they'll give you a ballpark estimate of what they'll pay. Very few companies will make a binding offer sight-unseen — and if they do it'll be substantially lower to account for possible issues.
Once you schedule an in-person inspection, the company will present a legal offer, often on the spot.
Who actually buys your home
Some of the bigger, well-known We Buy Houses companies in South Dakota aren't actually buying your home. Instead, it's a network of local investors or the company simply refers interested sellers' information to local house flippers.
In these cases, how long the process takes will depend on the investors in your area.
For example, we called a few We Buy Houses companies that advertised offers in less than an hour… and none of them responded within that time frame.
We Buy Houses companies pros and cons
What are the best alternatives to We Buy Houses companies?
- Sell through a low commission company, like Clever or Redfin
- Contact one of the top real estate agents in South Dakota
How much will We Buy Houses companies in South Dakota pay?
We buy houses companies use the 70% offer rule to ensure they'll make a profit. Basically, the 70% rule says the buyer shouldn't pay more than 70% of the home's After Repair Value (ARV) — what they hope to sell the house for — minus repairs.
On a South Dakota home that would sell for $150,000 on the open market, they may only pay $105,000. Selling a home that's worth $300,000? You may only see an offer for $210,000.
How much does selling a home to a We Buy Houses company in South Dakota cost?
On the surface, nothing. These companies don't charge you fees to buy your home. You'll also avoid many traditional selling costs, like realtor commissions and closing costs.
When you add all these expenses up, selling to a cash buyer can have significantly fewer upfront costs than a typical home sale. However, given the lower prices they offer, the savings don't always make up the difference. You could end up with much less in your pocket at the end of the day.
Here's how much a seller in South Dakota can walk away with using your state's median listing price of $256,888, average selling costs, and carrying costs (that is, the daily cost of owning a home, including utilities, mortgage, and taxes).
Selling to a We Buy Houses Company
Selling with a Traditional Realtor
Selling with Clever
Commissions and service fees
*Based on the average listing price for the last 12 months (realtor.com)
^70% rule and assuming the house needs 10% of its ARV in repairs
**Based on HomeAdvisor national average
Are We Buy Houses for Cash companies scams?
In general, We Buy Houses companies in South Dakota are not out to scam you. Some are national franchises and others are family-owned. In both cases, they rely on their reputation to close deals, so there is little incentive to scam people.
That being said, as with any industry, there are bad apples. If a "cash buyer" approaches you, check that they have an established web presence and customer reviews before giving them your personal information.
Also read all the fine print on any contract they present. Look up words or terms you don't understand. And never assume the contract says what you agreed to verbally.
Most importantly, look at the contract's contingencies. These are the conditions that allow the buyer to back out of the sale or change terms. Unless you understand the contingencies, you could be taken advantage of.