What is an iBuyer – you may not be familiar with the term, but you’ve undoubtedly heard of them or seen their signs in front of houses.
An iBuyer is a company that buys houses at non-wholesale prices and immediately resells them for a profit. They are different from the signs you might see on the road saying “we pay cash for houses” or the postcards you may receive with a handwriting-style font offering to buy your home. iBuyers are large companies, not individual investors.
iBuyer companies are coming into hot markets like Raleigh, Cary, and Apex to expand their businesses. They usually focus on houses that are in the hottest-selling price ranges, which, in the Triangle, is $400,000 and below.
Not all of these companies are the same.
Some only want to buy your home, while others want to be involved in the sale of your home and the purchase of another home. Some have their own agents while others work in conjunction with your real estate agent. A word of caution: an iBuyer’s main goal is to turn a profit on the acquisition and resale of your home. They only have their own best interests in mind when making or negotiating an offer on your home. Additionally, the iBuyer process often starts with a questionnaire that can lead you to share information that they can later sell.
Did you know that you can still work with a trusted real estate agent even when selling your home to an iBuyer?
If you’re considering an iBuyer deal, give me a call first. I can help you choose the iBuyer company that best suits your situation and assist you with all the steps between receiving an offer and closing the sale. Call Amy for your Shair of the market! 919-818-5001.
Stay tuned during August for parts 2 and 3 in my series on iBuyers, where I’ll be discussing how to differentiate between the various companies here in the Triangle in Part 2 as well as debunking some common myths about selling to an iBuyer in Part 3.
