iBuyers. These are the big, well financed companies that come in and offer to buy out sellers and even move them to the next home. On the surface this sounds really good.
Maybe too good?The theory is that these companies can save a seller from the trials and tribulations of having buyers tromp through their home, open houses that inconvenience them, and dealing with crazy offers. I believe that their are some times when these business models mesh well with sellers. Perhaps for an estate sale when the owners don't want the hassle of dealing with the sale process, or maybe when the owners reside out of the area.
All of this comes with a cost though. Between fees the seller is required to pay, the repairs they are required to complete, and the sub-market prices offered to some sellers, this type sale can cost 9-10% in total fees.
As to saving the hassle of showings and open houses, homes have typically been selling rather quickly here in our market with only one open house. Most clients don't mind because all this activity typically leads to the fastest sale for the highest price.
So, when discussing the sale of your home to one of these iBuyers, make sure to ask about total costs for selling your home. Then call a trusted agent to review your options.