SOLD.com is based on a simple premise: There’s more than one way to sell your own property, and before you list, it’s important to explore all your avenues. Sometimes, you may truly sell your own property, going the FSBO route. In other cases, it may be more advantageous to work with a traditional real estate agent or a flat fee broker.
Still another option for getting your home sold? Selling to an iBuyer. This is a relatively new concept, and a lot of sellers may be unclear on the pros and cons of this approach. Today, we’re going to go deep on the topic of selling your home to an iBuyer.
And as a friendly reminder, you can get personalized house selling tips whenever you want, simply by claiming your SOLD.com seller’s report. Request yours right away!
Now, back to iBuyers.
Getting Your House SOLD to an iBuyer
So what is an iBuyer, exactly? Essentially, this is a new way of selling houses, one that’s really taking the real estate world by storm. If you want to sell your home quickly and without a lot of hassle, the iBuyer approach may be right for you.
Note that selling your home is typically a highly involved process. It involves important steps like staging, pricing, marketing, negotiation, and beyond. Yes, you can hire a real estate agent to help you navigate these steps, but the process can still feel long or cumbersome.
The iBuyer approach appeals to many because it’s more streamlined and straightforward. In fact, the steps involved are quite basic. You go to the iBuyer website, enter your home address, and answer a few quick questions about the property.
Within a day or two, you’ll receive a cash offer from the iBuyer, based on what they think your home is worth. You can then either accept or decline it. There’s typically not a lot of negotiation built into the iBuyer process. (The “i” stands for instant, so the entire process is intended to be brief.) You might also note that, because it’s a cash transaction and there’s no mortgage lender involved, you’ll typically close within mere days, without the need for the usual inspection or appraisal.
Pros and Cons of the iBuyer Process
You can already see some of the major perks of selling to an iBuyer. It’s quick and convenient, and it allows you to complete your real estate transaction without a lot of headaches or bumps in the road.
Another major perk is that an iBuyer will usually accept your home “as is.” If you know your house is in suboptimal shape, and if you’re not especially interested in having repairs made, then selling to an iBuyer can seem like a natural fit.
But all of these advantages can come at a cost… literally. The big drawback to selling to an iBuyer is that you’re unlikely to receive the full market value of your home. Indeed, selling to an iBuyer usually means you’ll make less money than you would in a more traditional transaction. That’s true even when you factor in closing costs and other expenses that you’d incur when working with an agent.
As you think about whether selling to an iBuyer is right for you, then, you’ll ultimately be choosing between convenience and ease on the one hand, and economics on the other. As ever, there’s no one right answer; it all depends on the specifics of your property, and on your particular real estate goals.
It’s worth noting that you can always seek an offer from an iBuyer, just to see how much he or she is willing to pay for the home… and if you don’t like the offer, you’re free to just walk away.
Additionally, we’d encourage sellers to explore the full scope of their options, which you can do by requesting a report from SOLD.com.
Get More House Selling Tips
If you’re ready to receive individualized house selling tips, and to learn more about the best way to meet your real estate goals, request your FREE seller’s report from SOLD.com right away. It just takes a few minutes, and it will help you make a more informed decision about whether working with an iBuyer is right for you.