You could very well be missing out on profit when selling to an iBuyer.
“Should I sell my home to an institutional buyer?” This question was raised recently, and today I’ll answer it.
Institutional buyers are those large companies advertising that they’ll buy your house for cash. They try to sell the simplicity of using their services, but you should always look at what the net number in your pocket is going to be.
“They try to sell the simplicity of using their services.”
I had a client call me saying that they received a $360,000 offer on their property from an institutional buyer with a net of about $320,000. We investigated what the house was worth in today’s high-demand market and we determined that it could sell for $375,000 to $390,000. If he had sold to the iBuyer, he simply would have passed on $40,000 of profit over to them.
The simple answer to the question is that you probably shouldn’t. Give us a call, and we’ll be happy to go over all of your options and find out what the bottom-line numbers will be so you have the full picture to make the right decision.
If you have any other questions, reach out to me by phone or email. If we use your question, we’ll give you a $25 gift certificate. I look forward to hearing from you.
