What Is an iBuyer? Everything You Need to Know

What Is an iBuyer? Everything You Need to Know

Technology plays an essential role in the real estate industry, with MLS listings and virtual tours among the many tools used to sell homes. iBuyers are the newest real estate trend, allowing homeowners to sell a house fast in Phoenix without the hassles and stress of traditional real estate transactions.

An iBuyer is a company that uses technology to make an instant offer on your home. Based on current property listing conditions, they use an algorithm to determine what offer to make and then connect buyers and sellers directly on their website.

Though different iBuyers vary in their services, the basic concept is the same. You provide the iBuyer with your property’s age, size, location, zip code, and condition. Then, they will use the algorithm to calculate the value of your home based on the information. iBuyers let you forego several stages like repairs, negotiations, and paperwork. Most of the transactions happen online, and they close less than two days after you accept the offer.

Are iBuyers Legit?

iBuyers are legitimate real estate companies that can make you an instant cash offer and purchase your home in less than two weeks. iBuyers typically make reasonable offers but are not the best option for everyone. The certainty and convenience they provide come at the expense of service fees, usually 5% or more. The offer is also a slightly lower sale price.

iBuyers are good for:

  • Sellers who are in a hurry and need to close as soon as possible.
  • Sellers who want an easy sale.
  • Sellers who are at ease with doing everything online.

iBuyers are not for:

  • Sellers who want to get the most money for their home when they sell it.
  • Sellers who have the time to prepare and want to work with an agent.

Should I Sell to an iBuyer?

If you need a quick, predictable sale and don’t mind receiving less money than you would on the open market, selling to an iBuyer makes sense. Also, iBuyers can provide you with almost unrivaled certainty and speed. Most iBuyers provide free, no-obligation estimates, so requesting an offer to see how much they are willing to pay for your home is worthwhile.

Are you having a hard time deciding how to sell your Phoenix home? Get rid of the stress, and contact HBSB Holdings today. We buy houses in Phoenix, AZ, in any condition. There are no commissions, fees, or obligations. Start by telling us about your property with the form below, or call us at 480-535-1229.

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