Planning to Buy a New Home in 2022, Here's What You Need to Know!! Homes Prices are up 26% since last year. We closed out the month of January with pre-existing 3 Bedroom homes being sold just
The Truth About IBuyer Companies
Dated: May 1 2021
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
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....