If you need to sell a home quickly, iBuying can be a good option. Compared to the traditional process of selling a home, iBuying is much simpler and faster. This approach also gives sellers the convenience of closing within the time frame they dictate. However, all that convenience comes at a price.
Sellers who choose this approach are not likely to pocket as much money as they would with a traditional sale. The cost of a quick and predictable home sale is that iBuyer businesses often pay less than what you expect to get by selling your property on the open market. While iBuyers can make the process of selling a home seem comfortable and easy, there are hidden downsides. For most home sellers, a quick process would be great, but these negatives generally carry more weight than any benefit.
To sell your home to an iBuyer, you simply need to go to an iBuyer's website and fill out a form. You will then receive an offer on the house in less than 24 hours. These offers aren't usually mandatory, which means you don't have to accept the offer if you're not comfortable with it. However, if you accept the offer, the closing of the sale can occur in as little as a few weeks.
Usually, iBuyers will renovate homes after purchasing them and then sell them at a higher price on the MLS (Multiple Listing Service). But selling an iBuyer a real estate company that uses technology to buy and resell homes isn't for everyone. Whether you're buying or selling a home, working with an iBuyer can help simplify the whole process and avoid overlapping housing costs. We buy homes on Long Island and have helped hundreds of homeowners sell their homes across Nassau County, Suffolk County, Queens and Brooklyn, New York.