iBuyers are the newest thing to hit the real estate market. However, it’s important that you are aware of the disadvantages of selling your house in Sacramento to an online buyer.
What is an iBuyer? This phenomenon involves buyers buying a home they see online, often without knowing anything about the community — they just see a good deal. Many iBuyers get attention due to brand familiarity and promise of convenience. However, working with iBuyers will almost ensure you won’t get a fair price.
At California Family Homebuyers, we can buy your house quickly as an iBuyer would, but we are local buyers and investors, not a massive corporate machine just interested in a quick buck. For homeowners who need to sell their homes fast and want the convenience of a direct sale, working with our team might be right.
You are Just a Number
When you work with an iBuyer, the process isn’t personalized. The iBuyer doesn’t know the neighborhood or the market the way a local home buyer does. They will just throw out a number and move onto the next property. You won’t be able to negotiate or explain what makes your house so great. They often rely on a cursory understanding of your home and go from there.
An iBuyer isn’t there to help you reach your goals, they are there to buy as a home as inexpensively — end of story. When you work with California Family Homebuyers, you will have a team by your side that is ready to help you. We listen to your goals and what you need from the sale. Our job is to help you achieve those goals while helping you with the transition in any way we can.
Your Offer Will Likely Be Pretty Low
Working with an iBuyer doesn’t typically provide the profits you would hope to receive from a home sale. As we mentioned above, they tend to make generalized offers without much thought about the details of the property. The only benefit of working with an iBuyer is that the process is fast.
If you want to sell quickly without sacrificing a reasonable offer, work with a local property buyer instead of a big corporation. A company like California Family Homebuyers will help you sell fast to someone who cares about getting you out of a difficult situation.
It Can Be Expensive
Just like working with a real estate agent, working with an iBuyer can cost you a lot of money. Selling your house to an iBuyer can cost you over 12% of the sale price in fees alone. There are often other hidden fees to contend with as well as cancellation charges. Because you are usually at the mercy of the iBuyer when it comes to scheduling, many homeowners find that they have to rent a place until they are able to close on a new home. This means even more money out the door spent on fees and deposits.
It Can Take Awhile
Just like working with an agent, working with an iBuyer will subjugate you to inspections, appraisals, and possibly the need to make repairs. Sure, you’ll be able to get an offer much more quickly, but you will still have to wait while the iBuyer does their homework on the property. With a direct sale to California Family Homebuyers, you won’t have to jump through all of the hoops sellers often have to jump through. Instead, you will be able to get an offer and collect your cash in only a matter of days.
iBuyers Aren’t Buying Everywhere
While iBuyers might seem like the next big thing, their services are still quite limited. They typically only purchase houses in select cities, and even then, properties have to meet specific criteria. They usually will need to be a certain size, without repairs or upgrades required. If your house does meet the location, condition, and size criteria, the iBuyer is still going to try to acquire your property for as little as possible.
While working with an iBuyer may seem like a great solution for those who need to sell a house fast in Sacramento, there are some things you need to be aware of. Make sure to run the numbers for yourself, so you can make the right decision about how to sell. A listing will likely net more money in the long run but will take much longer than a direct sale. An iBuyer has the funds to buy and the big name to attract more people. And local investors such as California Family Homebuyers can provide you the personalized attention of a Sacramento real estate agent while offering the convenience of an iBuyer!