What is an iBuyer
What is an iBuyer? Well an iBuyer is a company like Zillow, Opendoor or Offerpad. They buy homes directly from homeowners without the use of a Realtor. What they are promoting is an easy, convenient transaction. A few of the benefits of using an iBuyer are that you get an instant offer, you don't have an showings and you usually get to pick your closing date. It allows you to determine when you are going to move. All of these things are beautiful and in the right situation make sense. I also think it makes sense when selling something as valuable as your home to make sure you explore all of your options.
The way iBuyers work is that they make you an offer based on the closed home sales in your area. That's it.....you either take it or leave it. There is no competition to drive up the price. With a traditional sale you can use the home inspection as a negotiating tool but with an iBuyer you have to make the improvements or they walk away. They don't change the price. Then you also have to take into consideration the fee they charge. The fee can be upwards of 10%. So the offer that they give you may not be that attractive after you take 10% off of the top. You definitely want o make sure you do your home work. We would encourage you to always consider using a good Realtor when you are selling your home or buying a new home. Please visit our website for more information.
https://barryandloricook.c21.com/
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Barry and Lori Cook
Realtors
Century 21 Carioti
407-748-6301 or 407-748-6302