Should I sell my house to an iBuyer?
Written and reviewed by Andrew Ragusa, Licensed Real Estate Broker and Broker of Record, REMI Realty LLC — 11+ years of transactions across Long Island, Brooklyn and Queens.
The short answer
An iBuyer is a company that makes an offer to buy your home directly, usually through an online process designed to be quick and predictable. For some sellers that convenience is worth a lot, and it may suit your circumstances.
The offer itself is only part of the picture. Service fees, repair deductions after the company inspects the house and the terms of the agreement can all reduce the money you receive. And like any single private offer, it does not show you what other buyers would be willing to pay.
If your goal is to maximize the money you receive and get the best terms available, I recommend testing the open market. There is no guarantee that it will always produce a better result, so I would compare the net money after fees, repairs and costs, the conditions and the timing side by side, and then weigh that against the convenience. I explain how I compare offers in the Seller’s Playbook.