Why an iBuyer Might Not Be the Best Option to Sell Your House

Comparing an IBuyer to a Cash Home Buyer

If you’re thinking of selling your home, you might have heard of iBuyers. These are companies that offer to buy your home for cash, sight unseen, without any repairs, or agents involved. They claim to provide a fast, convenient, and hassle-free way to sell your home.

But are iBuyers really the best option for you? How do they compare to cash home buyers, who are individuals or groups that also pay cash for your home, but usually have different goals and methods?

In this article, we’ll explain the differences between iBuyers and cash home buyers, and why you might be better off choosing a cash home buyer for your home sale.

What are iBuyers?

iBuyers are companies that use technology and data to make instant offers on homes. They typically target homes that are in good condition and in desirable locations. They offer to buy your home for cash, close in as little as two weeks, and charge a service fee that ranges from 6% to 14% of the sale price.

Some of the most well-known iBuyers are OpendoorZillow Offers, Offerpad, and RedfinNow. They operate in select markets across the country and have different criteria and processes for buying homes.

What are Cash Home buyers?

Cash home buyers are individuals or groups that pay cash for homes, without any financing or contingencies involved. They usually buy homes that need repairs or updates, or that are in distress or foreclosure. They offer to buy your home as-is, close quickly, and charge no fees or commissions.

Some of the most common cash home buyers are house flippers, buy-and-hold investors, and wholesalers. They operate in almost every market across the country and have different strategies and motivations for buying homes.

The Tuckers here at kcmoHomeBuyer are Cash Buyers, you can take a minute to learn more about how our home-buying process works and get to know us a bit if you explore our website.

Why choose a cash home buyer over an iBuyer?

While both iBuyers and cash home buyers offer a fast and easy way to sell your home for cash, there are some important differences that you should consider before choosing one over the other.

Here are some of the benefits of choosing a cash home buyer over an iBuyer:

  • You can get a higher net price for your home. iBuyers typically pay anywhere from 50% to 90% of market value for your home, depending on the condition, location, and demand of your home. They also charge a service fee that can eat into your profits. Cash home buyers typically pay anywhere from 70% to 80% of market value for your home3, depending on the repairs needed and the potential profit margin. They also charge no fees or commissions, which means you get to keep more of the sale price.
  • You can avoid surprises and risks. iBuyers often conduct an inspection after they make an offer on your home, and may ask you to make repairs or lower the price if they find any issues. They may also back out of the deal if the market changes or if they can’t resell your home quickly enough. Cash home buyers don’t do any inspections or appraisals, and they buy your home as-is, no matter what condition it’s in. They are typically buying to either hold as a rental or to make repairs and updates as a way of improving value and earning a profit.
  • You can have more flexibility and control. iBuyers usually have strict criteria and processes for buying homes, and they may not be available or interested in your area or your type of home. They also have fixed closing dates and terms that you have to agree to. Cash home buyers are more flexible and adaptable, and they can work with any situation or circumstance. They can buy homes in any area, condition, or price range, and they can close on your preferred date and terms.

How to find a reputable cash home buyer?

If you’re interested in selling your home to a cash home buyer, you might be wondering how to find one that is trustworthy and reliable. Here are some tips to help you find a reputable cash home buyer:

  • Do your research. Check online reviews, testimonialsratings, and complaints from previous sellers who worked with the cash home buyer. Look for signs of professionalism, honesty, transparency, and customer satisfaction.
  • Ask how long they’ve been in business. There are all sorts of people who have decided to be cash home buyers who have never bought a house and don’t really have the cash. So look for someone who has been doing this for a while.
  • Look for a professional. Check out their website, is it professional? Do they explain their process, and tell you about themselves, or their company? Do they answer all your questions?

Find the Best Option for You

Selling your home to a cash home buyer can be a better option than selling to an iBuyer, especially if you want to get a higher net price, avoid surprises and risks, and have more flexibility and control over your home sale.

If you’re looking for a cash home buyer in your area, we can help. We are cash home buyers who eliminate inspections, repairs, Realtors, commissions, and time. We buy homes in any condition, location, or situation, and we can close in as little as seven days.

Contact us today to get a fair and fast cash offer for your home. 

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