Zillow, Offerpad, Opendoor – Are The New Home Flipper I-Buyers A Good Deal?
Zillow, Offerpad & Opendoor are considered I-Buyers (new home flippers). They’ll buy your home for cash with quick & convenient closing dates. Sounds great right? Not always! They turn around and sell your home themselves so they need to buy your home at a discount.
- They may offer you close to your home’s market value but can charge high transaction fees that get deducted at closing. Plus they do a home inspection and charge you for any needed repairs.
- These fees vary depending on each home’s location, condition, upgrades, etc. but can be as high as 12-20% or more.
- They make the offer without seeing your home and then make price adjustments after they do the home inspection.
It may make sense to get an I-Buyer offer if you need a fast close.
- But Always consult a Realtor® first to determine your home’s fair market value selling through the MLS.
- Let your Realtor® do All the leg work by getting multiple I-Buyer offers and represent your Best interests.
- Not to mention negotiating the best price for you with these I-Buyers.
- The I-Buyers know Realtor’s know true market prices and will likely be more aggressive with their offers.
Once you know your home’s fair market value and have I-Buyer offers in hand;
- You can determine whether to sell your home through the MLS or to an I-Buyer.
- Either way, a Realtor® can help you net more money in your pocket!
Let me know if you have any questions or are considering selling your home. I can help you know all your home selling options in greater detail to net you the most money in your pocket!