iBuyers are the newest thing to hit the real estate market. However, it’s important that you are aware of the disadvantages of selling your house in Louisville to an online buyer.
Many of the iBuyers coming on to the scene are getting attention due to their brand familiarity and promise of convenience. However, working with iBuyers almost ensure you won’t get a fair price. At Logsdon Home Buyers, we can buy your house quickly as an iBuyer would, but we are local buyers and investors, not a massive corporate machine that is solely after profits. For homeowners who need to sell their homes fast and want to utilize the convenience of a direct sale, working with our team might be the solution you need.
You Are Just A Number
When you work with one of the giant internet house buyers, you can almost guarantee the process isn’t customized to fit your needs. The giant home buyers don’t know your neighborhood or community the way a local home buyer does. When they make you a offer they put you into their standard one size fits all equation which spits out a low ball number and then they move onto the next house. There’s no negotiation, you can’t explain to them the value of your home and they won’t care about all the memories you have there. To them you’re just a number on paper with dollar signs next to it.
Internet home buyers aren’t there to help you reach your goals, they only care about their own goals which is to get your property as cheap as possible so they can turn around and make a ton of money by reselling it. They are just another huge company consumed by corporate greed.
When you work with Logsdon Home Buyers, you will have a team by your side that is ready to help you. We listen to your goals and what you need from the sale. Our job is to help you achieve those goals while helping you with the transition in any way we can.
Your Offer Will Likely Be Pretty Low
When you work with one of the huge “we buy houses” companies be ready to give away your equity. Typically they make generalized, blanket offers, without much thought regarding the details of the property. The draw of working with an iBuyer is that the process will be fast and convenient. Most iBuyers are trying to acquire your property for as little as possible, but they usually do it pretty quickly. If you want to sell your house fast, but still want an offer that is reasonable, it’s best to work with a local property buyer as opposed to a big corporation. Working with a company like Logsdon Home Buyers will help you sell just as quickly but to someone who cares about getting you out of your difficult situation.
It Can Be Expensive
Just like working with a real estate agent, working with a huge internet buyer can cost you loads of money. When you sell your home to one of the huge companies it can cost you over 12% of the sale price in fees alone. There are often other hidden fees to contend with as well as cancellation charges. Because you are usually at the mercy of the iBuyer when it comes to scheduling, many homeowners find that they have to rent a place until they are able to close on a new home. This means even more money out the door spent on fees and deposits.
It Can Take Awhile
Just like working with an agent, working with an iBuyer will subjugate you to inspections, appraisals, and possibly the need to make repairs. Sure, you’ll be able to get an offer much more quickly, but you will still have to wait while the iBuyer does their homework on the property. With a direct sale to Logsdon Home Buyers, you won’t have to jump through all of the hoops sellers often have to jump through. Instead, you will be able to get an offer and collect your cash in only a matter of days.
iBuyers Aren’t Buying Everywhere
While iBuyers might seem like the next big thing, their services are still quite limited. They typically only purchase houses in select cities, and even then, properties have to meet specific criteria. They usually will need to be a certain size, without repairs or upgrades required. If your house does meet the location, condition, and size criteria, the iBuyer is still going to try to acquire your property for as little as possible.
While working with an iBuyer may seem like a great solution for those who need to sell a house fast in Louisville, there are some things you need to be aware of. Make sure to run the numbers for yourself, so you can make the right decision about how to sell. A listing will likely net more money in the long run but will take much longer than a direct sale. An iBuyer has the funds to buy and the big name to attract more people. And local investors such as Logsdon Home Buyers can provide you the personalized attention of a Louisville real estate agent while offering the convenience of an iBuyer!