The unknown formula to sell your house in record time

Sell ​​the house quickly and without stress.

NewsEditor
NewsEditor
23 May 2022 Monday 21:46
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The unknown formula to sell your house in record time

Sell ​​the house quickly and without stress. This is the dream of many Spanish owners, who, overwhelmed by the procedures of the sale, look for new real estate solutions. And what few know is that, for some years, iBuyers have been operating in Spain, that is, companies that buy houses in cash in a few days and take care of all the paperwork.

But how exactly do they work? And what types of homes do they acquire? The experts of the real estate comparison HelpMyCash.com explain it.

The iBuyers landed in Spain in 2017 with a clear business model: buy homes to reform them and put them back on the market. Therefore, they are a solution to sell a flat or a house in record time and without intermediaries.

The procedure is quite simple. The owner must contact the iBuyer through the web. An expert will call you on the phone and, as long as the house meets a series of requirements, will make you an offer to buy in less than 48 hours. If the owner accepts it, the expert will visit the house to analyze its characteristics in situ. Then they will proceed with the signing of a deposit contract and, later, with the signing of the deed of sale. That is when the company will make the housing payment.

The specialists of the real estate comparator highlight three advantages of selling a house to an iBuyer: “The first is the speed with which the operation can be closed. The second refers to comfort, since the owner not only avoids receiving many visits to the property, but is also exempt from processing the documents: the iBuyer takes care of everything. Finally, the risks are reduced: in a conventional sale, the sale is almost always subject to the approval of the mortgage credit for the buyer. As the iBuyer buys the houses without financing, this risk disappears”.

From HelpMyCash they also explain that the price for which an iBuyer will buy the property will generally be lower than market values. “These companies seek to make their investment in housing profitable. For this reason, they usually buy them for a slightly lower price than what could be obtained selling under normal conditions”, they assert. And they add that their business model is aimed at an owner with specific needs, which are to sell as quickly as possible and without taking care of anything in exchange for closing the operation for a lower price.

“We recommend always requesting an offer from an iBuyer before putting the apartment up for sale with a real estate agency. Thus, the owner can evaluate if the offer seems attractive to him. If it turns out yes, he will be able to sell in record time. If not, he will be able to reject it and continue with the conventional sale”, the experts detail.

The bad news is that the iBuyers service is not present throughout the Spanish territory. At the moment, they only buy apartments that are located in Madrid, Barcelona, ​​Valencia, Malaga, Seville, Zaragoza, Bilbao, Granada and Cádiz. Also, each iBuyer has specific requirements.

Some of the most common are that the house has an elevator if it is on a fourth floor or higher and that it is unoccupied or, at most, vacated within a maximum period of two months.

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