If you’ve decided to sell your house directly instead of listing the traditional way, you still have a choice to make. Should you sell to a local home buyer or to an iBuyer? iBuyers work on a volume basis which prevents them from giving individualized attention to their sellers. Like many companies, they can experience turnover among their employees which means you don’t know the qualifications of the person that made you the offer. Professional buyers are a part of the community and are dedicated to helping the people of Raleigh. They are easy to research and determine their experience in the area. Professional buyers like Wake County Home Buyers take the time to listen because our focus is helping individuals, Here are the five reasons why it is better to work with a professional home buyer in Raleigh vs. an iBuyer.
Shotgun Offers
The methodologies used by these larger companies are sometimes referred to as a shotgun approach. The goal is to make as many offers as possible and then cherry-pick the best deals. This benefits the buyer and not the seller. iBuyers method of buying is by sending a higher price (teaser) before deducting their transaction fees, closing costs, and repair requests!
Professional buyers like Wake County Home Buyers never charge fees to their sellers. We take the time to fully explain our process. Because we pay closing costs, our sellers get more money at closing. Wake County Home Buyers helps sellers meet their specific needs, with both their immediate and future goals as our top priority.
Repairs
iBuyers add contingencies in their agreements making the seller responsible for any repairs they deem necessary. Often iBuyers require sellers to accept the offer prior to revealing the costs that could be involved which often lowers the actual offer significantly. The problem is that all homes will receive a list of suggested repairs after a home inspector leaves. This means you will be asked to fix things which leads to more out-of-pocket costs. Also, many of these companies do not hire professional home inspectors and have their own in-house staff. This prevents them from being objective about the inspection process.
Professional buyers like Wake County Home Buyers always buy the house as-is, meaning you are not required to fix anything. You are not even asked to clean! With our experience we understand all the risks involved in buying a home as-is, and we also understand the relief this can offer to an already strained homeowner. With no repairs needed, you can avoid paying for expensive repairs before you ever realize a penny of profit.
Escape Clauses
iBuyers motivation is profit, and since they buy all over the country they are not a member of any local community. This supports the model of shotgunning the offers and only closing on the best ones. While initially dangling the carrot of speedy closings, the contract is often laced with contingencies, also known as escape clauses, which allow the buyer to back out of the agreement. For those forced to relocate prior to closing, holding two properties means double the bills, in addition to covering the repair bills, until the terms of your contract are satisfied.
Professional home buyers usually close within 30 days or less. Depending on the circumstances under which you’ve decided to sell your property, your resources may be dwindling fast. At Wake County Home Buyers, we close on the seller’s timeline. We can close as soon as a week, or we can offer a flexible date and allow the seller time to pack and move. This allows us to offer a better experience to our sellers making it better to work with a professional home buyer in Raleigh vs. an iBuyer.
You’ll thank yourself in the long run for taking the time to understand the huge difference between iBuyers and professional buyers like Wake County Home Buyers. Find out for yourself by sending us a message or calling Wake County Home Buyers at (919) 473-6885 today!