What’s the deal with instant offer companies that seem to be popping up all over the place lately? These companies, also known as “iBuyers”, may be a viable option for some, but before you take the plunge into such an arrangement, there are a few points to consider.
First, realize that anything that sounds too good to be true probably is. The truth is that these iBuyers are really just looking to make a quick buck. Their plan is to offer you a “convenient” arrangement at a cost. Sure, by selling to an iBuyer you get to avoid the listing process, but is that worth the inordinately low price you’ll earn for your home as a result?
If you are at risk of foreclosure or need to move quickly, you may find this to be a worthwhile trade. If you aren’t in distress, though, you’ll almost always be better off pursuing a traditional sale.
The problem with these iBuyers is that they don’t generally present their offer in an honest light. They try to make it seem like you’ll get just as much money selling to them as you would on the open market, and this is simply not true. In reality, sellers working with instant offer companies often leave thousands (sometimes even tens of thousands) of dollars on the table.
Even those who might otherwise find this arrangement worthwhile should know that iBuyers aren’t your only option. If you need to sell fast, reach out to us. We would be happy to develop a strategy for selling your home that fits your wants and needs.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.