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Interested in selling your home? Learn about today's options for savvy sellers.
Are you seeking a potentially more manageable, convenient, and secure way to handle your real estate transaction? It can be an arduous process when selling a home. But today's home seller has more options than ever with innovative new approaches to buying and selling homes that simplifies and improves the customer experience.
For homeowners who need to sell quickly because of death, disaster, debt, divorce, or other life events, iBuying or instant offers services, and agents who offer these options enable home sellers to quickly sell their property to a company than to an individual.
Generally referred to as an FSBO, a For Sale By Owner transaction entails selling your home without enlisting the help of a licensed real estate professional. As an FSBO, you can skip working with an agent, avoid paying a commission and retain complete control over your listing.
While getting the best deal in a transaction is essential, this can be a good solution for a seller who places more value on time and efficiency or may have been reluctant to sell because they didn't want to deal with the hassle. There is no need to find a real estate agent, renovate your house, or show the property to instant offer programs. An iBuyer company will present a cash offer in as little as 24 hours.
An iBuyer offer depends on an algorithm that weighs your home's condition, age, features, square footage, zip code, and local market trends and then calculates a (below market) offer. You may also need to pay transaction and other fees or repair adjustments for the convenience of a quick, off-MLS sale. By comparison, a Realtor who charges a 5% or 6% commission should get you the highest and best price when they market it on the MLS and other venues.
iBuyer companies don't want to buy everything. Most have "sweet spots" or niches, such as homes valued from $200,000 to $400,000. Also, as new as this market segment is, most iBuyer companies are not profitable- they are still finding their way within the market. They are also primarily located in significant markets, preferring metro areas with newer and tract homes that are easier to value.
Instant-offer companies like Opendoor and Offerpad purchase houses to "fix and flip." When working with an iBuyer, you are dealing directly with them. Their interest lies in getting the house for the least amount possible. Note: iBuyer companies are subject to economic forces and are not always in buying mode.
Working with an iBuyer service can be daunting. You may want to obtain representation from a real estate professional. As your representative, we discuss your options, help you navigate the process, and work with the iBuyer company.