The Truth About IBuyer Companies

Dated: May 1 2021

Views: 593

The Truth About IBuyer Companies that offer to buy your home for cash, such as Open Door, Orchard, Zillow, Redfin, Offerpad, and many others.

1. These Companies Are Investors looking to make a profit on your home by reselling on the open market.

2. They offer 90% below market value, charge a convenience fee up to 7% and then deduct another $5,000-$10,000 for repairs that they say you need once they complete an assessment on your home.

3. The fees are higher than a traditional sale with a real estate agent or realtor.

4. But what your paying for is the convenience of not having to show your home to potential buyers and a quick close with cash.

Although the new methods of selling your home for cash quickly may sound appealing always, always, explore your options. Your job as a home owner is to Protect Your Equity (Your Money)! These companies are deducting their expenses (realtor fees, closing costs, repair fees etc.) from your profit. Than they will go and resell your home on the open market most times “as is”, without doing any repairs to the highest bidder. The repairs fees that they deducted from your profit, will become their profit, as the new buyer may not even require repairs.

How much money will you leave on the table selling to one of these companies??

For more information about selling your home give me a call. I’ll help you compare so you can decide your best option. (m)682.231.3337

Blog author image

Tolechia Lane

I purchased my first home as a single mother in my early 20's, so I know the fears, the anxiety and the financial responsibility that comes with such a large purchase. But I also know the pride, joy a....

Latest Blog Posts

One Of The Benefits Of Homeownership

One of The Benefits of Homeownership: You Can Lock In Your Monthly Housing Budget!! People who purchased homes 2 years ago are paying a lower mortgage payment than people that

Read More

Should I Wait To Buy A Home When Prices Go Down

For those that are thinking about waiting to buy a home hoping prices go down…. that is not how Real Estate Works.  In fact, nothing works like that. The cost of living is always going

Read More

2022 Home Prices

Planning to Buy a New Home in 2022, Here's What You Need to Know!! Homes Prices are up 26% since last year. We closed out the month of January with pre-existing 3 Bedroom homes being sold just

Read More

What Is Happening In Todays Market

Prices are steady climbing and New Home Prices are being Set. Last Years Pre-Existing Starter Homes that sold in the $200s are selling this year in the $250s and up. New Construction Home Prices

Read More