How iBuyers Work and Why You Should Be Careful When Selling To One In Raleigh NC

How iBuyers Work and Why You Should Be Carful When Selling To One In Raleigh

Have you thought about selling your house to an iBuyer? Before you do, it is important to know how they work, the terms they offer, and what they can offer. Below, is a quick rundown of what to expect when selling your house to an iBuyer in Raleigh NC! 

If you have been thinking about selling a house in Raleigh NC, you’ve likely heard about iBuyers.  These are the large companies that offer all services via an online portal.  While their service may seem alluring, many home sellers find they walk away with much less than they had planned on. Working with Wake County Home Buyers or a Raleigh NC real estate agent can provide you with a much better solution. Keep reading to learn more about what you should expect when working with an iBuyer in Raleigh NC!

How The Process Works

The process of working with an iBuyers has been streamlined by leveraging web-based technology.  While things seem easy on the outside, there are many pitfalls you should know about before signing a purchase contract.  Here is how the process works:

  • Submit Your Information – Submitting your property information online is pretty straightforward.  You just answer all the questions in the webform and hit submit.  You will be asked about the condition of the home and what type of repairs it needs.
  • Get A Fast Offer – iBuyers utilize technology to determine the market value of your home.  You will typically receive an offer for your house in only a day or so. The challenge with this is that the real estate market is heavily influenced by local factors such as condition, proximity to schools, buy roads and highways, and a lot of variables that require a local professional to determine. Make sure you are aware of any and all fees imposed by the iBuyer as this will have a serious impact on what you are actually walking away with.
  • Decide If It Is Right For You – After getting your offer, you will be given some time to think about what you would like to do next. Make sure you understand all of the fees, and the TERMS that come along with working with an iBuyer. This is a great time to compare your options to determine which selling method will best help you and your current situation.
  • The Inspection Process – if you decide to accept the offer they will send in a home inspector to inspect the property and take photos of the interior of the home.  This is when many sellers get hit with a laundry list of repairs!  Fixing these items, especially on homes that are more than 20 years old can be extremely costly and require specialized contractors.  This will also hold up your closing date, and many times will require you to schedule a REINSPECTION to determine if the repairs were done to building code.
  • Close – iBuyers cannot close any faster than a reputable local home buyer can.  We can close as fast as 48 hours is that is what our sellers need.  We have found that the iBuyers prefer houses that are in near perfect condition.  Houses that were built within the last few years and can be put right back on the market without any work.  In this instance, you will certainly make more money if you list with a qualified local agent.

What To Watch Out For

There are a number of things to be aware of when selling your Raleigh NC house to an iBuyer. First of all, you are likely to walk away with much less than if you would have sold with an agent of a direct buyer. The offers are typically much lower and that doesn’t account for all of the fees. According to Realtor.com, a home seller will pay 13-15% more in fees than they would to an average selling agent! This can amount to thousands of dollars lost.

Another thing to watch out for is the closing costs.  When you sell to Wake County Home Buyers we pay all of your closing costs except real estate taxes.  Be careful about paying other companies attorney fees, title work, overnight fees, transaction fees, etc.

Why Choose Wake County Home Buyers Instead?

At Wake County Home Buyers we are able to make you a direct offer, just as an iBuyer would, yet we don’t charge any of the commissions or fees. And most importantly, WE NEVER ask you to fix anything.  We buy all of our houses as-is! We sit down with you one on one and help make the process easier for you. We provide an abundance of information all without any cost or commitment. Our process can be much more beneficial than working with an iBuyer or a Raleigh real estate agent. Working with an agent will cost you time and money. Our team is ready to buy your house outright, as-is, in only a matter of days!

Do you want to learn more about how iBuyers work? To learn more about iBuyers and how to sell your house fast in Raleigh, reach out to our team today!

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