All About IBuyers

Dated: March 15 2019

Views: 236

                Did you receive a flyer in the mail recently with an unsolicited offer to buy your home? Was it from a company who’s name you’ve heard on the radio, or another new company you haven’t heard of? These companies are a new addition to the real estate business referred to as “ibuyers.” What are they, and what is the catch?

                According to Inman magazine, iBuyers are Investors that use technology tools like automated-valuation models (also called AVMs) to make quick offers, in most cases sight unseen, and then close quickly on a real estate purchase. Some do so strictly for investment purposes (to flip, for example) while others are out there to sell home owners a quick and convenient way out of their homes.  The companies selling a convenience option for home owners looking to sell aren’t doing this out of the goodness of their own hearts, they are businesses that have found a niche in the market.

                Is there a catch? If you’re received a reasonable offer from an iBuyer company, you may be wondering if it’s too good to be true. Some are offering just under market value, and that may be a good deal for someone that has to move quickly, is struggling to make mortgage payments, or who simply does not want to deal with preparing a home for the market and the interruption of showings. However, since they are businesses, there will be a cost involved. Some of the larger iBuyer companies that have made a name for themselves in DFW will charge a service fee of anywhere from 6-13% of the offer price, in addition to offering just below market value. The fee will vary by company and may be based on how “sellable” they think your home is. Like a traditional home buyer, iBuyers will inspect the home and negotiate repairs or a repair credit. Once you’ve moved out, they will then sell the home for market value on the real estate market to make a profit.

                Would you rather profit from your equity instead? We can oversee the make-ready process on your behalf and then market your home for top dollar, so that YOU keep your hard-earned equity instead of selling yourself short.

Contact a GroupWatsonAgent TODAY for Professional Advice & Expert Direction.

~Experience the GroupWatson Difference~

Call or Email Today!
972.370.1775|BuyOrSell@GroupWatson.com

*GROUPWATSON'S FEATURED LISTING OF THE WEEK*

0000 Gant Road, Sherman TX


Image title


Blog author image

Lauren Burden

Lauren is a lifetime North Texas resident and graduate from Texas Woman's University. She currently lives in Prosper and has been working in and around her community for the past six years, resulting ....

Latest Blog Posts

What Will Homes Look Like In A Post Pandemic World

If the pandemic has taught us anything about the way we live, it’s that our homes are our sanctuaries. Homeowners are increasingly seeing their home as a place where all needs—work, school,

Read More

The Home Mortgage Refinance Process

When rates are low, it can seem like the ideal time to refinance your mortgage. After all, who doesn’t like a lower interest rate? There are lots of good reasons to refinance your mortgage,

Read More

Pros And Cons Of Buying Repossessed Properties

Buying a house can be incredibly exciting and terrifying at the same time, especially if it’s your first or second home. For a lot of buyers today, the idea of getting a killer deal is the

Read More

Top Lighting Options For Your Kitchen

Good lighting is important in many places in the home. When you’re working in the kitchen, though, having sufficient lighting to see what you’re doing is vital. Poor lighting in your kitchen

Read More