What is an iBuyer? Why sell to an iBuyer? What is the iBuying Process?
January 21, 2020
What is an iBuyer? Why sell to an iBuyer? What is the iBuying Process?

There is a new trend that many home sellers are finding very helpful. It is called iBuyer, or iBuying. There are plenty of benefits for home sellers to go the iBuyer route. To help, we are answering a few of the most common questions in this space.

  • What is an iBuyer?
  • Why sell to an iBuyer?
  • What is the iBuying process?

DealHouse is an iBuyer, purchasing homes for cash in Suffolk County and Nassau County on Long Island. Let’s dive right in!

What is an iBuyer?

If you are considering going the iBuyer route to sell your Long Island home, it is essential to know what an iBuyer actually is. An iBuyer is a real estate expert that has a methodology for automating the value of a home in a specific area. Once the home is valued, the iBuyer, like DealHouse, makes a competitive cash offer within 24 hours or less. 

There are a ton of data points involved in the home valuation process, allowing iBuyers to buy homes, often without seeing the home, or having an inspection. It is important to note that not all iBuyers are equal. You need to do your due diligence in order to find a professional and reputable iBuyer, or iBuying agency.

Why sell to an iBuyer?

Selling your home to an iBuyer can be very beneficial, depending on what your situation is at the moment. There below outlines a few of these benefits, but there are certainly more, depending on you, the home seller.

Here is why you may be interested in selling your home to an iBuyer: 

  • You don’t want to deal with listing your home for sale on the traditional real estate market. Getting your home ready to sell, cleaning all the clutter, staging, doing repairs to entice home buyers, having open houses, and other stressors of selling a home may not be what you want to deal with.

 

  • You have a contingent offer in place and can’t buy and move until your home is sold. Contingent offers are pretty common, and if you have a home ready to buy and move into selling your home to an iBuyer can be the fastest route to moving on with the next chapter of your life. 

 

  • You have a new job offer and need to move for work. The job market is no longer limited in today’s digital age. You may have landed your dream home across the country and need to move fast. This makes iBuying a big time benefit for home sellers that need to move out, move on, and get to your first day of work.

 

  • You are getting a divorce and need to sell your home. Divorce happens, and when you and your ex-partner need to split up the assets, the home is a big part of that. Selling your home to an iBuyer allows a divorced couple to get a very competitive price for the home they no longer need. 

 

  • You inherited a home or property after a family member has passed away. This is another very common situation when iBuyers come in handy. No one wants to deal with a home they didn’t plan for. There are repairs, taxes, upkeep, HOA fees, and more that add up fast. Instead, you can sell the inherited home or property fast with a professional and reputable iBuyer. 

What is the iBuying process?

The iBuying process can differ by the iBuyer, or iBuying agency. Normally, there is a request, an offer, and the home seller will accept or deny. How iBuyer value a home can differ as well, since each iBuying process has a different methodology behind valuing a home in a specific area. 

Here are the most common steps in the iBuying process you need to know:

  • A request is submitted online via the iBuyer’s website, including details about the house.
  • Within 24 hours, a competitive cash offer is made.
  • The home seller reviews the offer, does some math, such as how much it will cost to do repairs, realtor commissions, etc. if they decide to sell on the traditional market.
  • If needed, a home valuation will be conducted in-person (not always needed).
  • The iBuyer and home seller agree on a final price.
  • The seller chooses the closing date, as soon as one to two weeks in some cases.
  • The closing happens and the home seller moves out on their terms. 

DealHouse is a professional and reputable iBuyer ready to buy your home for cash!

You can see that going the iBuyer route to sell your home is certainly beneficial. If you need to sell your home fast, or simply do not want to deal with the stress and hassle of selling your home on the traditional real estate market, iBuyers can help.

And DealHouse is one of the top iBuyers on Long Island. You also don’t need to take our word for it. Check out what our very satisfied clients said about working with us. Get your competitive cash offer and sell your home on your terms. 

 

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