Are you thing about selling your house to an iBuyer in Reno Nevada? It can be a complex and lengthy process when you are selling your house in Reno Nevada or anywhere in Northern Nevada. You need to find the right real estate agent to help you put your house in the market. While your house is on the market you will need to stage, keep it clean so people are able to walk through it with no major complaints. You will also need to make all the necessary repairs.
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 party buying homes directly from the sellers. Usually for a little less than they would sell on the open market, and then they’re doing all the maintenance, planning and selling.
However working with an iBuyers does come with some risks. In this blog we will discuses the important risk all sellers should know with dealing with an iBuyer. Here are the risk of selling your house to an iBuyer in Reno Nevada.
OFFERS WILL BE LOWER
All iBuyers are in the business to make money, just like any business or person in real estate. In a trade off for homeowners to receive a fast cash offer on their home, they will most likely offer you far less than what your house in worth. While selling you on the idea that you will not have to deal with the sales process or buyers going through your house.
In many cases homeowners find these offers are tens of thousands of dollars less than what their home is worth. Leaving more money on the table.
When you are deciding if you want to sell your house to an iBuyer in Reno, Nevada, make sure you are doing your due diligence to calculate the true value of your home. Advocate for yourself with the iBuyer, and thoroughly weigh the quick sale with the potential for a higher price.
OFFERS ARE CONTINGENT ON INSPECTIONS
When you put your house on the market it is contingent the inspection of the property. When you do a deal with a iBuyer you contract will be contingent 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 he felt “nickel and dimed” by the iBuyer he used for his home sale, with them requiring very tiny, inconsequential repairs prior to the transfer of the property.
THERE ARE FEES
The convenience that comes with selling your house to an iBuyer in Reno Nevada comes at a price.
Every iBuyer will charge you fees for selling your home, although the actual percentage they charge varies from business to business. These fees are often hidden in with the initial offer which is already lower than you would find on the open market.
In some cases, an investigation by Market Watch found, sellers netted 11 percent less on their home sales than they could have gotten selling the homes themselves or with the help of a real estate agent. When you’re talking a home that costs $300,000, for example, that’s $33,000 in losses.
Getting you a high price and being able to net you more money is one of the benefits of hiring an agent vs. working with an iBuyer in the Reno, Nevada area.
YOU HAVE LESS CONTROL
If you enter into a contract with an iBuyer, you will have far less control over the entire process than you would have working with a Realtor.
You are in the handes of the iBuyers, which means you have to agree to their terms and conditions. Any thing they require you will have to do in order to proceed in the process.
For many home sellers, the total lack of control is upsetting and will keep them from dealing with iBuyers.
Professional Help Selling Your House in Reno Nevada
You don’t have to go through the home sales process alone. Our team of professionals can help you with every aspect of selling your house in Reno Nevada, making it less frustrating for you. Contact us today at 775-525-09890.