Comparing the iBuyer Model to a Professional Home Buyer
An iBuyer is a company that uses technology to instantly make an offer on a home — a dramatic shift from the long, complex process of a traditional home sale. iBuyers gravitate towards homes in good condition, aiming to make an offer in line with what a buyer would typically pay or a fair market value.
Similar to a home buyer, iBuyers invest in a home with the intent to fix up the property and eventually resell it for a higher price. Although the iBuyer model is similar to a home buyer, there are differences. In this brief article, a real estate investor with Ethical Home Buyers will discuss the iBuyer model, the similarities between iBuyers and real estate investors, and how their services differ from ours. If you are interested in partnering with a company that pays cash for houses in Tampa, give us a call today.
The Similarities Between Home Buyers and iBuyers
Like the home buyer business model, iBuyer companies offer their clientele convenience in the selling process. The whole process for selling your home in either business model can be done at home, completely from your electronic device. The prospective seller fills out a form on the website and receives an offer in 24 hours or less. If the seller accepts, the sale can be closed within just a few weeks or less.
The seller is not burdened by any of the traditional processes involved in a home sale, such as renovations or improvements or keeping the home in “showing condition.”. Additionally, the seller is able to choose their own closing date, which can be changed as needed.
The Differences of a Home Buyer and iBuyer
Sellers should think carefully before deciding to sell their home with an iBuyer company, as iBuyers can be incredibly selective on the kind of property they buy. If your home does not conform to the property type, condition, or location they are looking for, there is a chance they will decline to purchase your property.
Likewise, iBuyers charge a fee averaging around six to eight percent for taking the property off of your hands and preparing it for sale. This fee can be lower or higher depending on how long the iBuyer estimates it will take to sell your home. Collateral Analytics found that the typical cost to a seller is in the range of 13 to 15 percent depending on the iBuyer vendor.
Our team at Ethical Home Buyers strives to offer you the convenience of getting to sell your house for cash in Tampa in seven days or less without any of the hidden fees or commission associated with the traditional or iBuying process. We buy any and all types of houses at any location, in any condition, at any price range regardless of need for repair or renovation.
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