Thinking about selling your home without a Realtor in Tucson? Perhaps you have considered selling to an iBuyer? You aren’t alone! The growing trend of iBuyers in America has appealed to many homeowners. As a matter of fact, a recent NPR article even went so far as to say “Who Needs A Realtor? iBuyers Pay Instant Cash For Your House!”
Due to this article, I posted a podcast in response to this issue called “Selling Your Home Without A Realtor.. The iBuyer Trap!” Let’s briefly cover the five reasons why I say working with an iBuyer is a trap!
iBuyers Don’t Buy Every Home
What many people don’t know is that iBuyers aren’t home flippers. Because of this, they are more risk averse. When you are selling your home without a Realtor to an iBuyer, you will immediately notice that they have restrictions on homes that they will buy.
If your home has problems, is in need of serious repair, or has liens, an iBuyer may simply pass on your property. As they are looking to simply do minor repairs and a quick turnaround sale.. if your property or situation has too many problems, you may not be a candidate for them. If you are selling your home without a Realtor because of foreclosure, divorce, liens, or major renovations; an iBuyer may say “no.”
If your home doesn’t meet their age, size, or repair criteria, then your home won’t likely get a fair offer. As iBuying companies are impersonal ; they have no incentive to work with you, or your situation. Many times, you get the offer you get, and if it isn’t accepted, the iBuyer moves on.
iBuyers Buy Based Off Algorithms
Again, iBuyers are not Realtors, and they do not have access to the Tucson Multiple Listing Service to determine a fair value for your home. As such, they typically use algorithmic models to determine a sales price.
Because of this, offers that Tucson homeowners get from iBuyers tend to be unusually low. While it is true that you are probably expecting a bit of a lower offer for “convenience”.. you didn’t expect to leave massive amounts of money on the table!
iBuyers Require Sellers To Pay For Repairs
Remember, iBuyers are not home flippers! Therefore, they do not do repairs, or accept properties that need major renovations. Don’t be surprised if your offer “changes” after the iBuyer has had an opportunity to inspect the property.
Many times, the “instant offer” you receive is merely the hook to get you to accept their offer prior to their inspection. Don’t be surprised if the iBuyer changes their offer based on the inspection; charging you outlandish amounts of money for negligible repairs.
iBuyers Are All Different
Because there is no “set way” to buy a house.. iBuyers typically are vastly different on how they approach a property sale. Some will have fees, others will have you pay closing costs. It is important to get very clear on exactly what is being spent on your behalf and to whom!
Beware of iBuyers or unlicensed investors who ask you to pay your own closing costs and complete repairs! The entire reason you are selling to an investor is to avoid the hassle!
iBuyers Charge Fees
Finally, because there is no uniform way to get an “apples to apples” comparison on the various iBuyer companies, it is difficult for you to ensure that you aren’t getting ripped off. This is why it is important to use a Realtor who also invests!
A company like KarlBuysHouses was specifically designed for homeowners like you! Those who want the convenience of a sale without the headache or risks associated with a traditional listing or an unlicensed iBuyer.
When you deal with KarlBuysHouses, I pay all normal Seller closing costs. There are no commissions. There are no repairs. You pick the closing day, and I can close within 7 days.
Call me today at (520) 403-6227 or use the form below to tell me about your property today!