What is an iBuyer, and should you sell your house to one of them?
Are you wondering, “Should I have one of those iBuyer companies buy my home?”
There are different kinds of companies that buy houses; it’s smart to learn something about each type before you get a cash offer from one of them. How they arrive at your home value can have a big impact on the money you actually receive when you sell.
How does an iBuyer work?
Instant buyers, or iBuyers, promise the convenience that today’s technology enables. You go online and fill out a few pages of information, then immediately get a cash offer for your house and can sell your house fast, just as it is—no repairs or showings. Easy, right?
That can be where “easy” ends. At that stage, they’re using algorithms with data from the housing market to arrive at an offer they make without even looking at your house. Does that sound a little surprising? You probably wouldn’t buy a house without ever seeing it, would you? In reality, neither will an iBuyer. Before the sale closes, the company will inspect your home, and that’s when they can start lowering that initial offer or tacking on surprise fees for repairs or other factors that impact your home’s value to them. And all this could occur right up to the time you’re supposed to close the sale, when it’s hard to do anything about it.
iBuyers can charge service fees from 5% to 14% of the selling price. And they can charge closing costs on top of that. More than likely, the initial offer they make will look pretty attractive, but the actual closing price can be considerably lower.
The personal way to get a cash offer for your house that you can trust
Other companies that buy houses, such as HomeVestors®, meet you and see your home in person from the start. This way, our property specialists can consider your individual situation that brings you to sell your house fast, and you can get a cash offer that’s fair, sometimes on the spot during that initial visit. We often close in as little as three weeks from your acceptance of our cash offer, or later if that’s better for your schedule. And your property specialist will walk through every step of the sale with you.
HomeVestors isn’t the only one of the companies that buy houses that will work with you in person. In fact, many cash home buyers have sprung up in recent years, probably due to the popularity of home-renovation shows. As America’s #1 home buyer for more than 25 years, more homeowners have been able to sell a house fast to us than other companies, and that experience can make a difference in overcoming obstacles that often crop up in a real estate transaction. Many new cash buyers don’t know how to deal with those potential difficulties, and none of them can match our long-lasting relationships with lenders that make financing easy. Often, when other cash home buyers make an offer, they don’t have their financing lined up, and they may postpone your closing or even suddenly back out of the sale completely.
HomeVestors wouldn’t have a 96.1% customer satisfaction rate if we treated homeowners that way.
We buy houses “as is” just as iBuyers do, so you don’t have to spend time or money on renovations or repairs; you don’t even have to clean your house. In fact, don’t worry about moving any contents of the house that you don’t want. Take what you want and leave the rest for us to deal with. There really is no easier way to sell your house fast.
Unlike iBuyers, we don’t charge you a commission or any hidden fees, and we cover typical closing costs. That can mean thousands more in your pocket than when you sell to an iBuyer.
Just say “Buy my home fast,” and we’ll set up a free consultation.
We don’t charge anything to meet you and see your house, and you’re under no obligation to accept any cash offer we make. So you have nothing to lose when you get a cash offer from us. Contact us today. Click or call us at 866-200-6475 for your free consultation.