5 Disadvantages of Selling Your House to An Online Buyer in San Diego

iBuyers are the hottest trend to hit the real estate market. However, it’s important that you are aware of the disadvantages of selling your house in San Diego 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. These are mostly well known companies. However, working with iBuyers almost ensure you won’t get a fair price. At Trusted House Buyers 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 exact solution you need.

Here are some important things to consider when asking ‘What will an iBuyer pay for my house?’:

You Are Just A Number

When you work with an iBuyer, the process IS NOT personalized… at all. The iBuyer doesn’t know the neighborhood or the market the way a local home buyer does. They will just use an arbitrary algorithm and throw out a number ,and move onto the next property. You won’t be able to discuss your homes attributes or explain what makes your house so unique either. They rely on what it says about your house on paper along, and simply go from there.

Maybe the most important thing to remember is, that 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 and shareholders. When you work with Trusted House Buyers 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. We’ve found that every property, every seller, and every situation is fairly unique and one size fits all offers aren’t the most beneficial to the home owner.

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 the analysis very quickly with very little effort. If you want to sell your house fast, but still want an offer that is reasonable and fair, it’s best to work with a local property buyer as opposed to a big corporation. Working with a company like Trusted House Buyers will help you sell quickly, to someone who cares about getting you out of your difficult situation and understands your property and neighborhood specifics.

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% JUST IN FEES ALONE. 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 Trusted House Buyers, 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.

iBuyers Aren’t Buying Everywhere

While iBuyers might seem like the next big thing, their services are still quite limited. They typically only purchase houses in select cities, and even then, properties have to meet very specific criteria. They usually will need to be a certain size, without repairs or upgrades required. If your house does meet the location, condition, and size criteria, the iBuyer is still going to try to acquire your property for as little as possible and you will leave money on the table, even for a ‘fixer’ type home.

While working with an iBuyer may seem like a great solution for those who need to sell a house fast in San Diego County, there are some things you need to be aware of. Make sure to run the numbers for yourself, so you can make the right decision about how to sell. This is a big decision, and even if you are up against a tight timeline, take a brief moment in the middle of your decision to really understand what is best for your situation. A traditional listing will likely net more money in the long run but of course, will take much longer than a direct sale, and required a lot more heavy lifting by you. An iBuyer has the funds to buy and the big name to attract more people. And local investors such as Trusted House Buyers can provide you the personalized attention of a San Diego real estate agent while offering the convenience of an iBuyer!

Let us help you learn about the perks and the disadvantages of selling your house to an online buyer in San Diego. Reach out to us today for more information!

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