Have you thought about selling your house to an iBuyer? Before you do, it is important to know how they work and what they can offer. Below, is a quick rundown of what to expect when selling your house to an iBuyer in Providence!
If you have been thinking about selling a house in Providence, you’ve likely heard about iBuyers. While their service may seem alluring, many home sellers find they walk away with much less than they had planned on. Working with Ocean State Homebuyers or a Providence real estate agent can provide you with a much better solution. Keep reading to learn more about what you should expect when working with an iBuyer in Providence!
How The Process Works
The process of working with an iBuyer is pretty simple and convenient, which is why so many people are interested in selling this way. While things may seem easy, the offers aren’t always all that great. Here is how the process works:
- Submit Your Information – First, you will tell the iBuyer as much as you can about your property. You want to make sure that all of the good things, as well as the bad things, are taken into account when your offer is generated.
- 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. You will typically receive an offer for your house in only a day or two. Make sure you are aware of any and all fees imposed by the iBuyer as this will have a serious impact on what you are actually walking away with.
- Decide If It Is Right For You – After getting your offer, you will be given some time to think about what you would like to do next. Make sure you understand all of the fees that come along with working with an iBuyer. This is a great time to compare your options to determine which selling method will best help you and your current situation.
- Close – When closing with an iBuyer the process can be completed in only a matter of days. This can be a huge draw for people who are wanting to sell a house fast in Providence. That said, you will likely be receiving much less after all is said and done. Offers are typically much lower, not to mention the costs and fees.
What To Watch Out For
There are a number of things to be aware of when selling your Providence house to an iBuyer. First of all, you are likely to walk away with much less than if you would have sold with an agent of a direct buyer. The offers are typically much lower and that doesn’t account for all of the fees. According to Realtor.com, a home seller will pay 13-15% more in fees than they would to an average selling agent! This can amount to thousands of dollars lost.
Another thing to watch out for is the way the iBuyer creates your offer. While some variables are accounted for in the offer, others, such as a short commute or fantastic view, won’t be factored. These things are part of what makes your house so special and they won’t be considered when working with an iBuyer to sell your house fast in Providence. Don’t devalue your house in order to achieve a quick sale. Ocean State Homebuyers 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.
You should also consider what these low offers from iBuyers do for the homes around them. Once sold, the data will be used for CMA’s on other nearby properties. A low offer that is accepted can cause other homes in the area to lose value. iBuyers do not have the same attachment to neighborhoods as the team at Ocean State Homebuyers does. Our goal is to pay fair prices for houses while revitalizing neighborhoods. We want to help communities thrive.
Why Choose Ocean State Homebuyers Instead?
At Ocean State Homebuyers 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 process can be much more beneficial than working with an iBuyer or a Providence real estate agent. Working with an agent will cost you time and money. Our team is ready to buy your house outright, as-is, in only a matter of days!