Should You Sell to an iBuyer?
Here’s what you should know about iBuyers and how they operate.
Today’s topic is iBuyers. What are they? How do they work? Should you sell to one? You might not be aware of the term, but I’m sure you’ve come across an iBuyer or two.
An iBuyer is someone who comes to you trying to buy your home, usually in cash. They will then turn around and resell your home. You’ve probably seen signs that say “We’ll buy your house” or got a postcard in the mail with the same message. That’s an iBuyer.
The biggest iBuyer program out there is Zillow Offers. They use their platform to put up ads and work with hedge funds to buy homes.
iBuyers are looking for homes with built-in equity, so if you work with one of these people, there are both benefits and drawbacks. If you need a quick, easy cash sale, selling to an iBuyer may be the right move for you. However, it’s important to understand that you’re not going to sell your home to an iBuyer for full price.
Do you want to buy a home as an iBuyer? If you have the cash to buy the home directly, go with it. If you know the title is clean and there are no serious issues, it could end up being a bargain. However, I suggest working with a real estate agent to ensure you don’t fall into any pitfalls during the process.
If you know what you’re getting yourself into and you’re selling because you want an easy, clean transaction, an iBuyer can work for you. Just know that you’re probably going to leave a lot of money on the table.
If you have questions for me about iBuyers or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.