How an iBuyer Compares To A Local Home Buyer in Wilmington

iBuyers are a relatively new option when it comes to selling your home. They provide a quick option if you need to sell as soon as possible, but they are not the only option. There are still traditional local home buyers in Wilmington, NC that are financed and able to purchase your home. How does the iBuyer compare to a local Home Buyer in Wilmington?

iBuyers are companies that buy and sell real estate through technologies. They felt the need to simplify and streamline the real estate transaction process, basically eliminating the real estate licensee. The iBuyers provide a platform to buy directly from homeowners and sell to buyers directly. These companies are looking for properties in very good condition with very minimal or no repairs to make. If the property does need repair, they will often offer less for the house, or require the seller to make the repairs themselves before closing. iBuyers are focused on higher volume and less profit per unit. As of right now, iBuyers are not active in all areas; they tend to focus on very active areas with property values around $250,000.

Selling Your Property Through An iBuyer

As a property owner, you need to know how an iBuyer compares to a local home buyer in Wilmington, [markey_city] when you decide it’s time to sell your property. 

Through an iBuyers platform, property owners can request an offer from the company. The owner fills out information about the property and will disclose any known issues or recent upgrades. If the property meets the company’s initial criteria, the platform then runs an evaluation on the subject property. The iBuyer will typically provide a cash offer within 24 – 48 hours of the request. After the owner accepts the offer, the iBuyer will usually send out an inspector to verify the status of the property. If any repairs need to be made, they will either request the seller to fix them or deduct the repair cost from the offer. When the repairs are settled, the owner then picks the close date.

Selling Your Property To A Local Home Buyer

A local home buyer in Wilmington will generally be using a real estate agent. This means the local home buyer will be most likely to find your property through the multiple listing service, or MLS of the area. The buyer’s agent would then present the offer contract to the selling agent, or seller directly if they are not using an agent. If the seller accepts the offer, the buyer will usually hire an inspector to make sure there are not any hidden surprises. If you’re lucky, the buyer will purchase in all-cash; however, the typical home buyer will need financing which can take 30-90 days, depending on the lender. This point in the process is where some buyers are forced to withdraw their offer because of financing issues. If they make it past this point and the inspection comes back agreeable, then the closing occurs according to the contract. 

Local home buyers that do not use real estate agents are usually investors. Working with these buyers will have aspects of iBuyers and buyers with real estate agents as well. They tend to make all-cash offers with quick acceptance time frames but have inspection tendencies like local home buyers that work with real estate agents. They will most likely hire an inspector and request a price reduction for repairs needed. Some investors may need some time to inspect the property or to secure financing. The cash local home buyers will tend to close quickly since they are not waiting for financing. 

For more information on how an iBuyer compares to a local home buyer in Wilmington, NC, please call Homebuyers of NC at (910) 218-8138 or send us a message!

Jerry

Jerry has been involved in real estate for over 10 years. He graduated High School and enlisted in the Army, where he excelled in the Elite Army Rangers. Unfortunately, he sustained a major injury during a training exercise and was honorably / medically discharged after 4 years of service. He decided to attend Appalachian State University for both his undergrad and grad school with emphasis on Systems Engineering and Virtual technologies. He went on to work for multiple fortune 100 companies as an Engineer. Jerry stumbled into real estate investing with his father after deciding to fix up an old house down the street from his childhood home. After that house Jerry never looked back. Since then Jerry has helped hundreds of homeowners in selling, buying, and renting properties. Jerry has a GREAT team that works day in and day out to help homeowners sell their properties to local investors like himself. Contact Jerry info@homebuyers-nc.com

Get More Info On Options To Sell Your Home...

Selling a property in today's market can be confusing. Connect with us or submit your info below and we'll help guide you through your options.

Get Your No-Obligation Offer!

We Buy Houses and Land! There are No Commissions, No Fees, No Closing Costs, No Repairs/Updating, and No Obligation. We pay for everything! Fill out this quick form to see if your property qualifies...
  • This field is for validation purposes and should be left unchanged.