Do You Need Representation When Working With An iBuyer?
Do you need representation when selling your home to an iBuyer? Yes, you absolutely do, and there are three key reasons why:
- Their prices are negotiable. When representing sellers that work with iBuyers, we’ve bumped up offers by as much as $10,000 to $30,000 when we provide the proper sales comparables.
- There’s an inspection process. The inspection can be one of the most difficult parts of the home-selling process since it can determine how much they’re willing to offer you.
- We can help you with the contract. Many iBuyers only offer $1,000 as earnest money, whereas the traditional amount is 1% of the purchase price. So on a $300,000 home, you should have an earnest money deposit of $3,000 as protection in case the iBuyer chooses to cancel the contract without cause. We can help you navigate this and the other particulars of the contract to ensure you’re in the best position.
Of course, there are other reasons why you should have professional representation when negotiating with iBuyers, and I’d be glad to walk you through the process and compare your results to what you’d get if you sold on the open market. That way, you could decide which route you’d like to take.
If you need advice for dealing with iBuyers or have any other questions, don’t hesitate to give me a call or send an email. I’d be happy to help you with all your real estate needs.