Plenty of people have begun considering iBuyers when selling their home. iBuyers are investment firms or real estate companies that use online algorithms to price and make offers on a home. Regardless of the reason why you are considering selling to an iBuyer, the conveniences that they offer are going to be far outweighed by the negatives. These negatives are lurking below the surface and are difficult for most buyers to see. Here is what you should know: iBuyers work on a large scale basis and sellers often find that questions and concerns go unanswered because the company just doesn’t care. When you are selling your property, there are plenty of details that you don’t want to skip over. But these are companies that are not going to be dealing with you on a personal level. Professional buyers are a part of the community and dedicated to helping the people of Colorado Springs. Professional buyers like New Generation Home Buyers take the time to listen because our focus is helping individuals. Here are the five reasons why it is better to work with a professional home buyer in Colorado Springs.
Key Differences On Offers
Since iBuyers aren’t locally based, they tend to be unfamiliar with Colorado Springs. This means they don’t offer as much as professional buyers will for your home. iBuyers try to low ball sellers, but offer a “streamlined,” and “rapid” sale process. However, many of the fees you’re responsible for are well hidden, such as paying closing costs. iBuyers tend to have hidden fees and high commissions that can all eat away at your bottom line, even if you are getting a faster sales experience.
Professional buyers like New Generation Home Buyers offer fair prices, and we make sure that we’re taking the time to fully explain our process. When you work with a professional buyer like at New Generation Home Buyers, you won’t have to worry about hidden costs to sell your home. When you work with a professional buyer, the offer when you sign the sales agreement will be the actual amount you’ll receive at closing. This means that it is more beneficial to work with a professional home buyer in Colorado Springs vs. an iBuyer. New Generation Home Buyers helps sellers meet their specific needs, with both their immediate and future goals as our top priority.
How Professional Buyers and iBuyers Handle Repairs
iBuyers also handle repairs differently. iBuyers often add a contingency making the seller responsible for any repairs they deem necessary. Often iBuyers try to require sellers to accept the offer prior to revealing the costs that could be involved. So a seller may accept an offer, and then learn that they need to make expensive repairs, which they are legally obligated to complete. These repairs can lower the actual offer significantly. iBuyers created this process to avoid taking on the costs of these repairs, without any concern for how sellers will come up with these extra funds before closing.
Professional buyers like New Generation Home Buyers will buy the house as-is, making it preferable to work with a professional home buyer in Colorado Springs vs. an iBuyer. That means you won’t have to complete any expensive repairs. Our team understands all the risks involved in buying a home as is, we also understand the relief this can offer to an already strained homeowner. With no repairs needed, you can avoid paying for expensive repairs before you ever realize a penny of profit. This makes things much easier for sellers who are under pressure and need to sell for a profit quickly.
What You Need To Know About Holding Costs
iBuyers are generally motivated by profit. They do not care much about anyone’s individual circumstances. They’re removed from any sense of responsibility for the problems you may face or how much time passes, they can just move on to the next unwitting seller. The quick closing might seem like an attractive offer. But it is quite possible the very contract sellers sign is laced with contingencies, requiring repairs which the iBuyer is fully aware will lead to delays in closing. This can be extremely problematic for homeowners. For those forced to relocate prior to closing, holding two properties means double the bills, in addition to covering the repair bills, until the terms of your contract are satisfied. For most sellers, these terms are untenable and would cost a lot of extra money.
Professional home buyers typically close within 30 days or less. Depending on the circumstances under which you’ve decided to sell your home , your resources may be dwindling fast. At New Generation Home Buyers, our quick process means you can leave all of your worries behind, making it better to work with a professional home buyer in Colorado Springs vs. an iBuyer. Sell your home as-is without the worry about expensive contingencies!
You’ll thank yourself in the long run for taking the time to understand the huge difference between iBuyers and professional buyers like New Generation Home Buyers. Our goal at New Generation Home Buyers is to help you solve your problems, which is the best reason to work with a professional home buyer in Colorado Springs vs. an iBuyer. Find out for yourself by sending us a message or calling New Generation Home Buyers at (719) 882-2841 today!