Learn About The Risks Of Selling Your House To An iBuyer In Athens

Selling your house in Athens can be a long, complicated process. You have to deal with finding the right real estate agent to help you list it, getting things repaired and staged to show it keeping it clean enough that people can walk through it, and going back and forth with potential buyers.

Because of this time-consuming process, many sellers are turning to working with iBuyers, a relatively new phenomenon in the housing market.

An iBuyer is a group that purchases homes directly from the sellers, typically for a little less than they’d sell on the open market, and then does all the repairs, staging, and selling for them. In some cases, sellers receive an advance on the sale price of their home, allowing them to move into a new home while their old home sells.

Working with an iBuyer isn’t all fun and games, though. Here are 4 risks of selling your house in Athens to an iBuyer:

OFFERS WILL BE LOWER

Like any other person in the real estate market, iBuyers are in the business to make money. That means they’re likely to offer you less than your home is worth, hoping you will view the ability to move into a new home and the convenience of not having to deal with the sales process as a reason to take the lower offer.

In some cases, though, these offers are tens of thousands of dollars less than many homeowners find out their homes are worth, meaning they leave lots of potential money on the table.

When selling your house in Athens to an iBuyer, you need to carefully do your homework about what you believe your home is worth, advocate for yourself with the iBuyer, and thoroughly weigh the quick sale with the potential for a higher price.

OFFERS ARE CONTINGENT ON INSPECTIONS

Just as a sale from seller to buyer is contingent on what’s found in a home inspection, your contract with an iBuyer is contingent on a home inspection.

However, many sellers who have worked with iBuyers have found that these inspections seem to be far pickier than they would be otherwise, with the iBuyer requiring even small things be repaired before the sale.

One seller interviewed by Market Watch said he felt “nickel and dimed” by the iBuyer he used for his home sale, with them requiring very tiny, inconsequential repairs prior to the transfer of the property.

THERE ARE FEES

The convenience of having someone else sell your home – and help you purchase a new home in some cases – comes at a price.

All iBuyers charge fees for selling your house in Athens, though the actual percentages in fees they charge vary from company to company. These fees easily can eat into an already lower initial offering than you’d find on the open market.

In some cases, an investigation by Market Watch found, sellers netted 11 percent less on their home sales than they could have gotten selling the homes themselves or with the help of a real estate agent. When you’re talking a home that costs $300,000, for example, that’s $33,000 in losses.

YOU HAVE LESS CONTROL

When selling your house in Athens to an iBuyer, you have less control over the process than you would if you were working with a real estate agent or selling on your own.

You are at the mercy of the offers the iBuyer makes, the things they require you repair from an inspection, and the fees they charge.

For many home sellers, this lack of control is frustrating and keeps them from working with iBuyers.

Professional Help Selling Your House in Athens

You don’t have to go through the home sales process alone. Our team of professionals can help you with every aspect of selling your house in Athens, making it less frustrating for you. Contact us today at 706-426-1082!

Georgui Kassaev

Georgui Kassaev was invited to this country in 1996 during the Atlanta Olympic games. The first place he came to call his home after leaving Russia and performing all over Mexico, was Athens. He became a professional mixed martial arts fighter, then coach, and eventually obtained two black belts in taekwondo and Brazilian jiu-jitsu. He formed a specialty carpentry and construction business which sparked his passion for real estate. He then rediscovered his first passion performing. After all, he has performed in the circus since he was eleven years old in front of thousands of people and then again when he was an adult as a professional fighter. In 2018 he landed his first 3 television roles. While acting, he continued developing his real estate skills, becoming a value-add investor in the Classic City and then getting his real estate license. He has now become a listing specialist in the Greater Athens Area, working with homeowners to protect their interests and get them the right price for their property! However, he never abandoned his construction roots and works with investor clients to help them buy properties based on their numbers with no aversion to making multiple offers. Georgui is fluent in three languages Russian, Spanish, and English. He is proficient in video production and social media marketing.

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