The Truth About IBuyer Companies

Dated: May 1 2021

Views: 42

The Truth About IBuyer Companies that offer to buy your home for cash, such as Open Door, Orchard, Zillow, Redfin, Offerpad, and many others.

1. These Companies Are Investors looking to make a profit on your home by reselling on the open market.

2. They offer 90% below market value, charge a convenience fee up to 7% and then deduct another $5,000-$10,000 for repairs that they say you need once they complete an assessment on your home.

3. The fees are higher than a traditional sale with a real estate agent or realtor.

4. But what your paying for is the convenience of not having to show your home to potential buyers and a quick close with cash.

Although the new methods of selling your home for cash quickly may sound appealing always, always, explore your options. Your job as a home owner is to Protect Your Equity (Your Money)! These companies are deducting their expenses (realtor fees, closing costs, repair fees etc.) from your profit. Than they will go and resell your home on the open market most times “as is”, without doing any repairs to the highest bidder. The repairs fees that they deducted from your profit, will become their profit, as the new buyer may not even require repairs.

How much money will you leave on the table selling to one of these companies??

For more information about selling your home give me a call. I’ll help you compare so you can decide your best option. TolechiaLane@gmail.com (m)682.231.3337 www.DreamHomeswithLane.com

Blog author image

Tolechia Lane

I purchased my first home as a single mother in my early 20's, so I know the fears, the anxiety and the financial responsibility that comes with such a large purchase. But I also know the pride, joy a....

Latest Blog Posts

The Truth About IBuyer Companies

The Truth About IBuyer Companies that offer to buy your home for cash, such as Open Door, Orchard, Zillow, Redfin, Offerpad, and many others. 1. These Companies Are Investors looking to make a

Read More

Rent To Own Good Idea Or Bad Idea

My professional opinion it’s a Bad Idea and here’s why:*You pay about 20% above the typical rent for the house as well as option fees etc.*The agreed upon purchase price will be what the owner

Read More

How To Build Wealth Through Real Estate

Imagine paying 3.5% down payment, using a mortgage to purchase a home but getting a 100% of the property to enjoy and all the benefits that comes with it. That is called leveraging your money and

Read More

Preparing To Purchase A Home

When Preparing to Purchase a Home the First Step is getting your finances and credit in order. Mortgage Lenders Review you Credit History, Employment Status, Income and Debt to qualify you for a

Read More