This article was inspired by a recent conversation with one of my Lynwood Park neighbors. She wondered why everyone wouldn’t just sell to an iBuyer rather than list their home with an agent.
The “iBuyer” is the latest thing in residential real estate. An iBuyer (short for “instant buyer”) is a company that will make an on-the-spot, cash offer to buy your home at a guaranteed price. iBuyers offer liquidity and convenience – you receive a market price for your home, close on the date you select and avoid the time and inconvenience associated with listing and selling the home. Because iBuyers purchase with cash, they can close quickly. Sounds awesome; so what’s the catch?