What are Instant or Internet Buyers? Why Would I want to Sell My House to Them?

Selling a Home Without Listing

If you own a home in Arizona, you have received hundreds of phone calls, text messages, and letters asking you to sell your home without listing it. These are called Instant Buyers or Internet Buyers. Some of these Buyers are individual buyers looking to buy low in a market with increasing values. Others are well-funded companies with wall street asset management conglomerates backing them. Some companies are buying homes in Washington State.

There is a mix of well-financed companies each with different criteria of what their ultimate purpose for buying is. Some are buying homes as long-term investment rental properties. While others are looking for homes they can rehab and flip for profit. The rest are somewhere in between.

Some Advantages

One company offers a program called “Sell and Stay” where they will rent back to the owner after closing. Either for the short term while the owner finds another home to buy or long term with an agreement to sell back to the owner if they wish. Watch the video about sell and stay below.

What are the advantages of selling to Instant Buyers? First, it is simple and fast. You get an offer within a day or two with all the numbers spelled out. The only real contingency is the condition of your home. These buyers hire a contractor to do a home inspection just like any serious buyer. If there are issues, they will reduce the offer amount, or you then complete the repairs. If you use a real estate broker who already works with Instant Buyers, then the offer amount will reflect your condition and there will be fewer negotiations after the initial offer

The second reason you may want to look at is time. You will receive the offer quickly, and the sale should close quickly.

The third reason may be your finances. With Covid-19 many homeowners’ incomes have been reduced and making the mortgage payment has been difficult, if not impossible. If you are one of the approximately 20% of homeowners in Washington State that has used a forbearance agreement with your lender. You may be looking at a significant mortgage payment increase when the foreclosure and eviction moratorium expires. Do not let the unpaid interest eat up all of that equity.

Get Multiple Offers

Want to look at multiple offers before you put your home on the market? Then compare the net prices to what you would net if you sold your home by listing it? Contact me and we will get you offers plus do multiple CMA reports! This way you can see for yourself what is best for you.