How iBuyers Work: Should You Be Careful When Selling To One?

If you have been thinking about selling a house in Miami, chances are you’ve heard about iBuyers. While their straightforward selling process may seem alluring, many home sellers find they walk away with much less than they bargained for.

This is the unfortunate reality of working with an iBuyer. When it comes down to it, working with Sunshine State Buyers or a Miami real estate agent will provide you with a much better deal. Keep reading to find out why.

iBuyers – How The Process Works

First, let’s tackle how working with an iBuyer works. The process is, as advertised, pretty simple and convenient. This is to be expected since it’s for this reason that iBuyers are gaining so much traction. Here is how the process works:

  1. Submit Your Information – Tell the iBuyer as much as you possibly can about your property.
  1. Get A Fast Offer – iBuyers utilize technology to determine the offer price for your property. They will input the data, creating a home value report, that generates an offer with a day or two.
  1. Decide If It’s Right For You – This is a great time to compare your options and think about what would be the best choice for you and your current situation.
  1. Close – With an iBuyer, closing is usually fast, completed in only a matter of days. Of course, for anyone who needs to sell FAST, this can be a very tempting proposition indeed.

NOTE: Make sure you’re aware of any fees imposed by the iBuyer, as this will seriously impact the amount you are walking away with. To make matters worse, offers are typically much lower than market value even before considering the additional costs and fees.

What To Watch Out For

①As we’ve already mentioned, receiving a drastically lower offer is the first thing to look out for. Next is the fees. According to Realtor.com, a home seller will pay 13-15% more in fees than they would to an average Miami real estate agent.

②Then you need to think about how an iBuyer creates your offer. Attractive selling features such as a short commute or fantastic view won’t be factored in. If you’ve got a fabulous house, don’t devalue your home in order to achieve a quick sale.

Our team at Sunshine State Buyers can buy your house directly, closing just as quickly as any iBuyer can… except with us, you won’t have to worry about any of the costs or fees.

③You should also consider how accepting such a low offer from an iBuyer will affect the neighborhood. Once sold, that data will be used for CMA’s on other nearby properties, causing family homes in your local area to lose value.

iBuyers do not care about your local community or your difficult financial situation. They are simply looking to profit from reselling your property.

This is not the case with our team at Sunshine State Buyers! Our goal is to pay fair prices for houses while revitalizing neighborhoods. We want to help communities thrive.

Why Choose Sunshine State Buyers Instead?

At Sunshine State Buyers we are able to make you a direct offer, just as an iBuyer would, yet we don’t charge any of the commissions or fees. Plus, as locals, we understand the market and what home sellers are looking for.

Our goal is to help people, and we do this by listening to their stories and understanding their selling goals. We provide an abundance of information, all without any cost or commitment. Our team is ready to buy your house outright, AS-IS, in only a matter of days!

Call our office at (305) 916-3328. A member of our team would love to speak with you.
Or, click here to fill out our short form. We’ll get back to you as soon as possible with a fast, fair ALL-CASH offer on your home.

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David Veras

David Veras was born in Hialeah, Florida and has been involved in Real Estate since February 2019.

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