What's It Like to Sell Your Home to an iBuyer
Updated: Dec 30, 2019
People debate whether iBuyer means instant buyer, Institutional buyer, investment buyer,
internet buyer, and really who knows? The reality is that an iBuyer is a cash buyer offering a
quick, convenient, and certain close, but usually at the bottom of the range of the market. It’s
really that simple. If you don't know their names, the big iBuyers are Opendoor, Zillow Offers, and Offerpad.
Technology has changed the way we do almost everything – including how we approach the buying and selling of real estate. One of the biggest trends is the concept of selling to an iBuyer. An iBuyer is either an individual or investor who offers to buy a home instantly, online, based on market value obtained through an automated system. If you’re considering selling your home, iBuyers offer a quick alternative to the traditional listing. But you must way the Pros and Cons to ensure the transaction will meet your needs. Having a trusted real estate advisor will prove a tremendous value when choosing which offer to accept and decline.
Basics of Selling to an iBuyer
The essential differences between an iBuyer and traditional listings is that there is no delay in listing and marketing your home before an offer is received. The home seller simply answers some basic questions online about home condition and unique features. The iBuyer will consider this information along with the automated home valuation and send an offer to the seller or the sellers agent.
Most iBuyers will present an all cash offer and closing can occur as quickly as 7 days. Your agent will still represent you in the sale and along with commissions, the title and escrow fees are paid for by the iBuyer. Selling to an iBuyer can be a great option for older, dated homes which might linger on the market. It’s also a terrific choice for sellers who need to sell quickly.
While sales prices are typically lower than traditional sales, there are fees to consider. Selling to an iBuyer is becoming more and more popular. If you’re considering a home sale, working with an iBuyer is an alternative which can help you move quicker and still receive a fair price. Yet you must be certain that you do not leave any money on the table.
Check out the Offer Optimizer above to receive a no hassle report that will compare the traditional sale of your home with the major ibuyer offers in the current market. I would love to be your Realtor to help you navigate the iBuyer selling process. My goal is to empower my clients to make the choice that is right for them in a fair and open market.