5 Tops We Buy Homes for Cash Companies in Grand Rapids

As mentioned in the pros and cons list above, most Grand Rapids “We Buy Home” companies adopt a 70% rule, meaning they will give you about 70% of the repair value of the home, minus its estimated repair costs.

Here is an example of a simplified formula:

(Your ARV x .70) – Repair cost

To see how it works in real-life situations, let’s take a look at an example providing equation. Suppose your bungalow in Grand Rapids can be sold for $330,000 after repair, but it will take $30,000 to get there.

($330,000 x .70) – $30,000 = $201,000

In this example, Grand Rapids, where we buy a home company, may offer you about $201,000.

However, different types of home buying companies will provide different amounts for the home. As mentioned earlier, iBuyers tend to pay more than we buy a home company because Ibuyers look for homes in better condition. iBuyer may pay you 85%-95% of the market value while charging its service fee.