5 Disadvantages of Selling Your House in Washington DC, PG County, Montgomery County To An Online Buyer

Don’t Sell Your House Online

iBuyers are the newest thing to hit the real estate market. However, it’s important that you are aware of the disadvantages of selling your house in Washington DC, PG County, Montgomery County to an online buyer.

Many of the iBuyers coming on to the scene are getting attention due to their brand familiarity and promise of convenience. However, working with iBuyers almost ensure you won’t get a fair price. At Super Savvy Home Buyers LLC, we can buy your house quickly as an iBuyer would, but we are local buyers and investors, not a massive corporate machine that is solely after profits. For homeowners who need to sell their homes fast and want to utilize the convenience of a direct sale, working with our team might be the solution you need.

You Are Just A Number

When you work with an iBuyer, the process isn’t personalized. The iBuyer doesn’t know the neighborhood or the market the way a local home buyer does. They will just throw out a number and move onto the next property. You won’t be able to negotiate or explain what makes your house so great. They rely on what it says about your house on paper and go from there.

An iBuyer isn’t there to help you reach your goals, they are there to buy as inexpensively as possible in order to turn a profit for their corporation. When you work with Super Savvy Home Buyers LLC, you will have a team by your side that is ready to help you. We listen to your goals and what you need from the sale. Our job is to help you achieve those goals while helping you with the transition in any way we can.

Your Offer Will Likely Be Pretty Low

Working with an iBuyer doesn’t typically provide the profits you might think. They tend to make generalized, blanket offers, without much thought regarding the details of the property. The draw of working with an iBuyer is that the process will be fast and convenient. Most iBuyers are trying to acquire your property for as little as possible, but they usually do it pretty quickly. If you want to sell your house fast, but still want an offer that is reasonable, it’s best to work with a local property buyer as opposed to a big corporation. Working with a company like Super Savvy Home Buyers LLC will help you sell quickly, to someone who cares about getting you out of your difficult situation.

It Can Be Expensive

Just like working with a real estate agent, working with an iBuyer can cost you a lot of money. Selling your house to an iBuyer can cost you over 12% of the sale price in fees alone. There are often other hidden fees to contend with as well as cancellation charges. Because you are usually at the mercy of the iBuyer when it comes to scheduling, many homeowners find that they have to rent a place until they are able to close on a new home. This means even more money out the door spent on fees and deposits.

It Can Take Awhile

Just like working with an agent, working with an iBuyer will subjugate you to inspections, appraisals, and possibly the need to make repairs. Sure, you’ll be able to get an offer much more quickly, but you will still have to wait while the iBuyer does their homework on the property. With a direct sale to Super Savvy Home Buyers LLC, you won’t have to jump through all of the hoops sellers often have to jump through. Instead, you will be able to get an offer and collect your cash in only a matter of days. The main reason you might want to avoid off-market listings is in the name itself—by limiting your potential market, you can make it tougher to find a buyer for the price you want.

For example, if you choose a traditional pocket listing approach—where your listing is not shared beyond a small group of agents and there is no public advertising—you might not have more than a few dozen people who actually see the listing.

If you’re on a private online network, you’re going to reach more prospective buyers because buyer’s agents will scour both the full MLS and the off-market listings to find potential homes for their clients. But it’s still less than the full MLS listing, which is shared on many websites, including Zillow.

If your strategy is to try out the private market to see if your home listing price is OK, you might be better off in the wider market anyway.

“If you’re only exposing your listing to a very select pool of buyers, you might not get a true test,” Galicia says.
In a hot real estate market, your price testing strategy might backfire. If your price is reasonable, the home could be snapped up right away if listed on a private network. But in the public network, you might generate a bidding war among prospective buyers and get several thousand dollars or more over your listed price.

 

Let us help you learn about the perks and the disadvantages of selling your house to an online buyer in Washington DC, PG County, Montgomery County! Reach out to us today for more information! 1-800-777-4773

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