Should you work with an iBuyer in the Twin Cities? Many people are considering this option when trying to sell their house fast. Learn more about what they do and what to expect from the process in our latest post!
iBuyers are becoming an increasingly popular alternative to listing with a Twin Cities real estate agent. The convenience factor is attractive, especially for homeowners looking for a fast way to sell a house in the Twin Cities. Read this weeks blog to learn 5 things you should know about working with an iBuyer so you can be aware if one would be beneficial for your situation or not!
Less Personalization
When you work with an iBuyer, they aren’t trying to get to know you, the nuances of the property you want to sell or your situation. You are just another property address and if you decline their offer, they simply move on to the next prospect. The process is very impersonal and based solely on profit and won’t likely help you achieve the price you want. When you work with Fast Cash Homes MN, we want to learn about you and your selling goals, to help you achieve them however we can. Learning about your situation and your property, and providing you with the necessary information for making your best decision about how to sell your house fast. There is never any obligation or hassle to sell to us.
Less Room To Negotiate
As mentioned, declining an iBuyer offer doesn’t usually lead to a response to negotiate a price, even if you have data to back up your claims. They just move on to the next potential seller.
When you are working with a Twin Cities real estate agent or professional home buyer, you will typically be working with someone interested and open to discussing what your house is really worth. You will be able to go back and forth, negotiating a deal that works for all parties involved.
Lower Offers
The convenience of working with an iBuyer comes at a cost. You sell your house quickly, and terribly discounted, to ensure the iBuyer makes a certain percentage of profit on the deal. Their margin for error, to be sure they make enough profit on properties that are sight unseen, devalues your selling price.
For some people, the convenience may make seem to make sense. According to some studies, homeowners will receive about 11% less on average when selling their house to an iBuyer, without factoring in commissions and fees that many of the iBuyers charge.
When you work with Fast Cash Homes MN, you will still be able to sell your Minneapolis house fast, while getting a great offer and avoiding all of the usual costs of selling a house in Minneapolis.
Expensive Commissions
While working with a Minneapolis real estate agent will cost about 6% when trying to sell your house fast, working with an iBuyer could cost you another 11.5% in fees! While not all iBuyers charge this much, many of the larger ones do. Do the math for your property. Is the convenience really worth selling at such a low price? In many cases, if a homeowner needs to sell a house fast in Minneapolis, working with a local and professional home buyer will be a better option. At Fast Cash Homes MN, we always pay fair prices and we will never charge you a dime in commissions or fees.
Hidden Fees
In addition to the service fees sellers agree to when they begin a relationship with iBuyers, many iBuyers add more unexpected fees, deflating your sale proceeds. Be careful about reading all the fine print if you work with an iBuyer to sell your home fast. There are often hidden fees and costs that aren’t nice surprises.
Some iBuyers will charge administrative costs or make you pay half of the closing costs. You don’t have to pay these costs with us. We will take care of all the costs. We pay for the repairs, cleaning, and all of the closing costs! When you work with Fast Cash Homes MN, what we offer is what you get!
When it comes down to it, working with an iBuyer can be convenient, but it does come with a lot of risks, and a strong possibility of losing out on thousands of dollars you would have otherwise made by working with a Twin Cities real estate agent or professional home buyer.
We would love to help you determine which selling method is right for your property. Get in touch with us today via (612) 504-0391 or through our contact form. We will help you run the numbers so you can make the best decision about selling your house fast in Minneapolis. When you work with our team, there is never any hassle or pressure to sell your Minneapolis house to us. Learn about all of the selling options available to you before signing on the dotted line!