iBuyers: another way to sell your apartment that you probably didn't know about

Any owner who wants to sell their apartment usually starts by contacting a real estate agency.

Oliver Thansan
Oliver Thansan
16 March 2023 Thursday 23:38
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iBuyers: another way to sell your apartment that you probably didn't know about

Any owner who wants to sell their apartment usually starts by contacting a real estate agency. But few know that there is another way to start the sale: ask an iBuyer for an offer. These are companies that buy houses directly from the owner in just seven days and can make a purchase offer in 48 hours completely free of charge.

“Requesting an offer from an iBuyer does not mean any commitment. It is completely free and the owner can accept or reject this offer without obligation. It's a good way to start the sale because if the owner is compensated by the offer, he can sell in seven days; if it doesn't make up for it, you can always contact a real estate agency and sell under normal conditions”, say the specialists at HelpMyCash.com, a website dedicated to real estate comparison. But how exactly does an iBuyer work?

The operation of iBuyers is simple. It is enough for the owner to complete a form on the web for a specialist to call him by phone and assess whether the home meets a series of requirements. If they are met, the company will make an initial purchase offer that the owner can accept or reject without obligation.

If you accept it, the next step is a face-to-face inspection, where a technician will evaluate the property on site and make a second purchase offer that may be the same, higher or lower than the initial one, depending on the state of conservation of the home. The latter is known as a definitive offer and, if the owner accepts it, what follows is to sign a deposit contract or deed of sale and receive the money from the sale.

For the experts at HelpMyCash, selling the house to an iBuyer greatly simplifies the sale and reduces the stress involved in the operation to a minimum, because in addition to buying the house in record time, they take care of processing all the paperwork necessary for the sale. be realized.

The requirements that iBuyers demand to buy a home vary from one company to another, but in general, they can be summarized in three points. The first is the location: from HelpMyCash they assure that, for the moment, iBuyers only buy houses in Madrid, Barcelona, ​​Tarragona, Valencia, Málaga, Seville, Granada, Cádiz, Zaragoza and Bilbao. The second requirement is that the flat is unoccupied or will be vacated within a maximum period of two months; therefore, iBuyers do not buy houses with a tenant.

The last requirement has to do with the characteristics of the home. Most iBuyers do not buy apartments without elevators if they are on a fourth floor or higher, nor do they buy basements or semi-basements, and they usually put the maximum purchase price at 400,000 euros. “These characteristics change from one iBuyer to another, so we also recommend asking for an offer. In the worst case, the adviser will inform the owner that he cannot make an offer and the sale will continue by the traditional method ”, they assure from HelpMyCash.

Up to here they are all advantages. But the price at which iBuyers buy homes is often less than their market value. For this reason, these companies are an option to take into account, mainly for owners who are in a hurry to sell and are willing to lower the price to achieve it.

“As the offer is free and without obligation, the owners can ask for an offer and evaluate for themselves if it is worth them. If yes, they will sell in seven days. If not, they can reject the offer and continue with the sale through the usual method ”, they conclude from HelpMyCash.