One question we hear from many of our clients is “what is an iBuyer?” In this post, we shed some light on the subject to help you determine if you should work with one or not! There are many things to be aware of and we want to make sure you have all of the information you need!
Should You Sell Your Nebraska House To An iBuyer?
iBuyers are the latest trend in the real estate world. While their services allow you to quickly sell your house, you may end up receiving far less than had you sold in a different manner.
Once you factor in all of their fees, the amount you receive will be even less. Below, we offer answers to some of the most frequently asked questions we hear from homeowners who want to sell a house fast in Nebraska and are curious if they should use an iBuyer, sell directly to a professional home buyer, or put their house on the MLS with a real estate agent!
Keep reading to determine which selling option will work best for you and your unwanted house in Nebraska!
What Is An iBuyer?
An iBuyer is a company that purchases properties sight unseen, often for much less than retail.
There are many major companies getting involved with iBuying, which is quickly changing how houses are bought and sold. iBuyers utilize technology to make you an offer for your house almost instantly. After all, the “i” in iBuyer stands for instant.
They can simplify the home selling process which is very appealing for people who need to sell a house fast in Nebraska. However, working with an iBuyer can come with some serious drawbacks.
You will likely receive much less for your house, not to mention all of the costs and fees. In many cases, home sellers will miss out on thousands of dollars which usually isn’t worth it.
Working with an agent or a local professional home buyer such as The Sierra Group Pro Home Buyers will help you to save time and money on the home selling process. Our offers are fast, easy, and always fair!
How Are Their Offers Determined?
Typically, when working with an iBuyer, offers made are pretty general. Of course some property attributes will be calculated into the offer, but otherwise, the offer is often based on geography and the size of your house.
Agents and professional home buyers use what is called a comparative market analysis which incorporates the data of recently sold homes in your area to determine what your house is currently worth.
iBuyers use what is called an automated valuation model, or AVM, which is similar to a CMA, but it uses technology to evaluate the property as opposed to a real live person running the numbers. A lot can be missed using this process and home sellers aren’t typically able to negotiate with iBuyers. In many cases, the iBuyers offer is simply take it or leave it.
Does Their Process Work?
The process is pretty simple, but keep in mind that you get what you pay for. First, you submit the details of your property. The computer will run a few numbers, quickly spitting out an offer for you. It can be difficult for a computer to accurately calculate all of the attributes of your home, leaving you with a standard price that will be used for many properties in your area.
The process can work for some home sellers in Nebraska, however, working with a local real estate agent or a local professional home buyer will likely get you more cash for your house.
What Do They Charge?
The costs of working with an iBuyer can be pretty hefty! According to Marketwatch, an iBuyer will charge up to 11.5% in commissions and fees. That is just about double what an average agent will charge you in commissions, plus your offer will typically be much lower than what you would be able to get on the MLS.
If you need to sell your house fast, for a great price, without any cost whatsoever, a local pro home buyer like The Sierra Group Pro Home Buyers will buy your house outright.
How Is The Sierra Group Pro Home Buyers Better
At The Sierra Group Pro Home Buyers, we work with local Nebraska home sellers, helping them to reach all of their selling goals. We purchase houses direct, always for fair and honest prices. We handle all of the details and will close on the property at your convenience, we are typically ready to go in 7 days or less.
We can typically close as soon as the title company has checked the title and prepares the closing paperwork. This can sometimes be as fast as 24 hours from when we get the purchase agreement to them!
The Sierra Group Pro Home Buyers is a “real” home buying company. We are NOT wholesalers! Wholesalers will advertise themselves as a home buying company, but either have no intent on buying your house or just do not have the financial ability to.
Once these companies get a contract to buy a house, they will shop that contract to other buyers that can actually close and purchase the property. Because of this, they will sometimes make offers that are not very realistic, hoping they will find someone that will pay more than their contract price. But if they don’t, they will come back to you, the seller, and attempt to renegotiate the agreement for a lower price.
When you work with us at The Sierra Group Pro Home Buyers, you won’t have to worry about expensive fees or hidden charges. Our process is fast, simple, transparent, and will help you with any unwanted property in many areas of Nebraska. Don’t agree to sell to an iBuyer until you learn more about the services we can offer you!
What is an iBuyer and are they right for you?
If you need to sell your house in Nebraska, we can help you find out!
Reach out to us today for more information! (402)-291-5005
7 Days Cash by The Sierra Group, LLC is based in Lincoln, Nebraska. We purchase homes locally, and in many other parts of the country such as Nebraska, Iowa, Missouri, Kansas & Florida! For the past 20 years, we have been helping people by purchasing their homes directly! In addition, we are licensed realtors in Nebraska and Missouri. We understand the process and the local markets, allowing you to receive the best service and the best all-cash price for your home! We are Veteran Owned, and hold an A+ rating with The BBB!