It can be a long, complicated process to sell your house in Arlington. You will find the right real estate agent to help you list it, have it fixed and arranged to display it to keep it clean enough for people to walk through it, and go back and forth with potential buyers.
This time-consuming process means that many sellers shift to working with iBuyers, a relatively new trend in the housing market.
An iBuyer is a group that buys homes directly from the sellers, typically for a little less than they would sell on the open market, and then performs all the repairs, stages, and sales for them. In some cases, buyers get a discount on their home’s selling price, allowing them to move into a new home while their old home is selling.
Though, working with an iBuyer isn’t all fun and games. Here are 4 dangers of selling your Arlington house to an iBuyer.
OFFERS WILL BE LOWER
Like any other person on the real estate market, iBuyers are to make money in the business. This means they are likely to offer you less than your home is worth, hoping you’ll see the ability to move into a new home as well as the ease of not having to deal with the sales process as a reason for taking the lower offer.
Nevertheless, in some cases, these offers are tens of thousands of dollars less than other homeowners deem their homes worth, meaning they’re leaving lots of potential money on the table.
When selling your house to an iBuyer in Arlington, you need to do your homework carefully about what you think your home is worth, advocate for yourself with the iBuyer and weigh the rapid sale thoroughly with the potential for a higher price.
OFFERS ARE CONTINGENT ON INSPECTIONS
Just as a sale from seller to buyer depends on what’s found in a home inspection, so your deal with an iBuyer depends on a home inspection.
Nevertheless, several sellers who worked with iBuyers found such checks to be far more picky than they would otherwise have been, with the iBuyer requesting only small things to be repaired before the sale.
One seller interviewed by Market Watch said the iBuyer he used for his home sale felt “nickel and dimmed,” with very small, inconsistent repairs needed before the property was transferred.
THERE ARE FEES
The convenience of selling your home to someone else-and in some cases helping you buy a new home-comes at a price.
All iBuyers charge fees for selling your house in Arlington, although the actual percentages of fees charged vary from business to business. These fees can easily be eaten into an initial offer which is already lower than you would find on the open market.
In some cases, a Market Watch investigation found that sellers netted 11 percent less on their home sales than they could have received selling the homes themselves or with the aid of an agent in the real estate business. For example, when you think about a home which costs $300,000, that’s $33,000 in losses.
YOU HAVE LESS CONTROL
You have less control over the process when selling your house to an iBuyer in Arlington than you would if you partnered with a real estate agent or were selling on your own.
You are at the mercy of the deals that the iBuyer makes, the things that you need from an inspection to fix, and the fees that they charge.
Professional Help Selling Your House in Arlington
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