Should you work with an iBuyer in Baltimore? Many people are considering this option when trying to sell their house fast. Learn more about what they do and what to expect from the process in our latest post!
iBuyers are becoming an increasingly popular alternative to listing with a Baltimore real estate agent. The convenience factor is very appealing to homeowners, especially those who want a fast way to sell a house in Baltimore. While a fast sale can be beneficial, there are a number of things you should be aware of before selling your house to an iBuyer in Baltimore. Below, we offer 5 things you should know about working with an iBuyer in Baltimore!
1. Less Personalization
When you work with an iBuyer, they aren’t trying to get to know you or your situation. You are just a number and if you decline their offer, they will simply move on to the next person. The process is very impersonal and based solely on how much they will be able to profit upon reselling the home. The process is very impersonal and won’t likely help you achieve the price you are after. When you work with Maryland Home Buyers, we want to learn about you and your selling goals, helping you to achieve them however we can. We will learn about your situation and your property, providing you with the information you need to make the best decision about how to sell your house fast in Baltimore. There is never any obligation or hassle to sell to us.
2. Less Room To Negotiate
As mentioned above, if you decline an offer, the iBuyer will simply move on to the next potential seller. Most iBuyers aren’t going to negotiate with you, even if you have data to back up your claims. When you are working with a Baltimore real estate agent or professional home buyer, you will typically be working with someone open to a discussion about what your house is really worth. You will be able to go back and forth, negotiating a deal that works for all parties involved.
3. Lower Offers
The convenience of working with an iBuyer comes at a cost. You will be selling your house quickly, but at a great discount in order to ensure the iBuyer is profitable on the deal. For some people, the convenience may make seem to make sense. According to some studies, homeowners will receive about 11% less on average when selling their house to an iBuyer. And this doesn’t factor the commissions and fees many of the iBuyers charge. When you work with Maryland Home Buyers, you will still be able to sell your Baltimore house fast, while getting a great offer and avoiding all of the usual costs of selling a house in Baltimore.
4. Expensive Commissions
While working with a Baltimore real estate agent will cost about 6% when trying to sell your house fast, working with an iBuyer could cost you another 11.5% in fees! While not all iBuyers charge this much, many of the larger ones do. Do the math for your property. Is the convenience really worth selling at such a low price? In many cases, if a homeowner needs to sell a house fast in Baltimore, working with a local and professional home buyer will be a better option. At Maryland Home Buyers, we always pay fair prices and we will never charge you a dime in commissions or fees.
5. Hidden Fees
In addition to the service fee agreed to upfront, many iBuyers will tack even more fees, thus taking more and more from your sale proceeds. Be careful when working with an iBuyer as there are often hidden fees and costs to consider. Some will charge administrative costs or make you pay half of the closing costs. This isn’t the case for us. We will take care of all the costs, ensuring that you will never have to spend any money on the property again! We pay for the repairs, cleaning, and all of the closing costs! When you work with Maryland Home Buyers, what we offer is what you get!
When it comes down to it, working with an iBuyer can be convenient, but it does come with a lot of risks. You will likely lose out on thousands of dollars you would have otherwise made by working with a Baltimore real estate agent or professional home buyer. We would love to help you determine which selling method is right for your property. Get in touch with us today via (410) 657-2523 or through our contact form. We will help you run the numbers so you can make the best decision about selling your house fast in Baltimore.
When you work with our team at Maryland Home Buyers, there is never any hassle or pressure to sell your Baltimore house to us. Learn about all of the selling options available to you before signing on the dotted line!