One of the biggest trends in real estate over the last few years has been the emergence of the iBuyer. While the trend has created quite the buzz in the industry, it’s also cast a lot of confusion as to how iBuyers function and, more importantly, whether they actually help home sellers and buyers.
If you need to sell your house fast in Louisville, you may be looking at different options such as a For Sale by Owner, hiring a realtor, using a cash home buyer, or looking into an iBuyer. What’s the difference between cash home buyers vs. iBuyers, and which is a better choice for your current situation.
What Is an iBuyer?
An iBuyer is an individual or company that buys houses in Louisville to flip or sell them and make a profit. What distinguishes an iBuyer from investors or other home buyers is that they rely almost solely on technology to find houses, make offers, and close deals.
iBuyers can operate locally here in Louisville or nationally. You may get an offer from someone hundreds of miles away from where you live. The main point to remember is that iBuyers may never actually look at your property or know anything about the real estate market in your area. They simply appraise the house online and make an offer from anywhere in the U.S.
How Is an iBuyer Different from a Home Cash Buyer?
The goal of both an iBuyer and a home cash buyer is essentially the same. Find a house, make an offer, close the deal. Plus, it’s no secret that both home buyers and iBuyers look for profitable real estate deals. So, what is the difference?
Home Cash Buyer
A cash home buyer can be a house flipper, potential landlord, or investor that looks for hard-to-sell houses. They make an offer based on a percentage of the home’s current market value and then close the sale quickly. All sales are cash sales in which the buyer purchases the home as-is with no conditions.
- No additional services are provided – simply buys your house
- Typically a local buyer that knows and works in the area
- Engages in a fact to face transaction – shows up at the property
- Focuses on homes that are hard to sell, helping sellers in difficult situations
- Takes on all related issues and responsibilities of the house after the sale
iBuyer
An iBuyer can be an investor, real estate broker, or real estate agent looking for easy-to-sell homes that are already in good condition. While they are willing to take on all related responsibilities and issues with the home, they try to minimize the problems by looking for move-in-ready homes. Their goal is to do as little to the house as possible to turn a profit easily.
- Additional services provided for buyers and sellers
- Can be a local or national buyer
- Most transactions conducted online
- Focuses on easy-to-sell homes that require little to no maintenance
- Takes on all related issues and responsibilities of the house after the sale
Which Is Better: Cash Home Buyers or iBuyers?
The best option depends on several factors such as
- Your current situation
- How quickly you need to sell your house
- The condition of your house
- Whether you are comfortable with doing a real estate transaction online
If your house is in excellent condition and you want to get an offer similar to a regular buyer, then an iBuyer may be your best choice. They will make a cash offer to buy your house as-is. No realtors. No closing costs.
However, if your house is not move-in ready and you don’t want to spend the time or money necessary to fix it up, you may want to sell your house for cash as-is to a local home buyer in Louisville, Kentucky. Plus, a home buyer can purchase your property regardless of your situation.
For instance, if you are going through bankruptcy, foreclosure, divorce, relocation, downsizing, probate, or a damaged house, a cash home buyer is more likely to work with you than an iBuyer. Distressed situations are the types of situations that iBuyers try to avoid. Therefore, they are less likely to even look at your house if they sense that it will be too much of a hassle to resell it.
Sell Your House for Cash to We Buy Real Estate
If you need to sell your house fast in Louisville, contact We Buy Real Estate. We buy houses as-is in Louisville, Kentucky. Call 502-458-2722 to get a fast cash offer.