iBuyers are companies that use algorithms to determine a home’s value and make an offer instantly, often without an inspection or showing. The “I” stands for instant because of the instant quotes they provide.
iBuyers and should you consider selling to one?
By: Arizona Daily Sun
We have all seen the ads on television and the internet. Some guy is on the screen harking their ability to buy your home for cash with a quick close. One guy says that he got his sellers 11% over the Multiple Listing Service (MLS) -- whatever that means. Another person comes on and says he will buy your home “as is” in any condition and any location. They tell you to fill out a form online and get instant quote for your home.
A seller comes on and says he received $30,000 more when he sold to so-and-so. He doesn’t, however, say $30K more than what. Another couple say how smooth their transaction was.
The iBuyers claim that you don’t have to keep your house looking good for showings and that you are not inconvenienced by having to leave when your home is being shown. I think, however, that is a small price to pay for getting top dollar.