Receive an instant cash offer for your Denton County home!
Looking to sell your home fast? Receive an instant cash offer for your Denton County home, and avoid the headache of multiple showings or long listing agreements. You may have seen ads touting how you can save time and commission expenses when you sell your home to one of the many cash investors looking to buy residential property across the Dallas-Fort Worth area. There are a number of iBuyers looking to purchase single-family homes in the Denton County area. These cash buyers are part of the growing trend within the real estate industry. Denton County homeowners have multiple options to sell quickly to an all-cash home buyer. Just be sure to read all the fine print before you leave thousands of your hard-earned equity on the table!
Unlike traditional fix and flip investors, many of the new iBuyers are well capitalized Wall Street variants. These iBuyers will provide you with a cash offer for your home that they claim is a fair offer. The reality is that most of these offers are rejected by homeowners. These offers are rejected for a very simple reason…These cash buyers are generally not offering you market price for your home! In addition, the added fees with various iBuyers can be more than a traditional Realtor fee. The commissions or service fees can vary depending on the iBuyer, but the process is essentially the same. These cash buyers will ask some basic questions about your home, and likely have one of their representatives or agents view your property to gauge the actual market value. Based on the comparable sales selected by the iBuyer, you are presented with a cash offer for your home which you can either accept or not.
It goes without saying that if you are presented with an iBuyer offer, you might want to get a second opinion on the CMA (comparable market analysis) presented by the iBuyer’s representative or agent. After all, if the iBuyer or their agent is preparing the CMA and selecting the comparable sales, they have a vested interest in keeping the value as low as possible. If you remember that many of these iBuyers are publicly traded corporations, you won’t be surprised if the cash buyer places their profit ahead of your own interests.
Is one of these cash buyers the right choice when it comes to selling your Denton County home? Probably not, but that depends on your situation. Ultimately the choice is up to you, and you will have to decide if the advertised “convenience” of selling to a cash buyer is worth the additional equity or profit that you will likely be losing from a sale. Real-world examples of these iBuyer offers show that you could be leaving double-digit percentages of your equity on the table, essentially giving away tens of thousands of your money to an iBuyer for what could be over-hyped convenience.
As an independent real estate broker, Aaron Layman Properties can help you evaluate any all-cash offer for your home and provide you with an objective opinion of how that cash offer stacks up against your prospects in the open market with a traditional end-user buyer. Best of all, Aaron Layman Properties will help you save commission fees and expenses no matter which type of buyer you want to sell to.
Whether you are looking for a cash offer for your home and a quick closing, lower commission fees or even a flat-fee commission model, I can help you save money on your next Denton County relocation. You will have the peace of mind that comes with working directly with a Denton County real estate broker who has sold hundreds of homes. Aaron Layman Properties can help you get where you want to go without the bloated overhead, inflated commission fees and high-pressure sales tactics.
If you need a quick cash offer for your home, Aaron Layman Properties can help you secure an offer with a local iBuyer or cash investor. Just realize that these cash buyer (iBuyer) alternatives are generally not going to pay you full market value for your home. The reason is simple. Cash buyers want make a profit when they sell your property or turn it. By default these iBuyers are acting as middle men in the final transaction before the home is sold to an owner-occupant. Some of the newer variants of iBuyers include Opendoor, Zillow Offers, RedfinNow, Offerpad Knock, and Keller Offers.
If you take a look at their marketing pitches, iBuyers generally start by overstating the commissions to sell for market price with a normal sale in the MLS. Only a fool would pay a 6 percent commission to sell a home in the current real estate market, so it’s ridiculous for any of these iBuyers to use that percentage as the baseline for their savings. As an example, I recently received an unsolicited invitation from Opendoor for our rental property. The marketing material I received offers reasons why “selling a home often costs more than 6%”. They throw in staging and preparation, seller concessions, repair costs, ownership and overlap and closing costs which can add 4 percent or more to base Realtor commission fees. If you read between the lines, this is how cash buyers present their convenience as a savings to you the homeowner while they are presenting you with a low-ball cash buyout.
RedfinNow has a “service fee” which can be as much as 7 percent. This is offered as an alternative to paying a Realtor commission of 4-6 percent. There’s that 6 percent baseline number again. In this case the service fee is apparently for the “speed, certainty and convenience” of selling your home quickly for a guaranteed price. RedFinNow also mentions potential repair costs and closing costs on top of their service fee. Once you look at the fine print, it becomes obvious why most cash buyers are not going to pay you full market value for your home, and why the advertised “savings” can be highly misleading.
A comparison of the new crop of iBuyers in the U.S. real estate market showed that selling your home to an iBuyer could cost you thousands of dollars vs a traditional sale, about 11% less on average than the seller’s net from a normal sale. The initial low-ball offers from iBuyers are just part of the formula they utilize to pad their margins. Those low-ball offers and the promise of convenience can become even more expensive for home sellers after the physical inspections result in even lower offers. It is important to remember that even the “instant offers” from iBuyers are usually subject to physical inspection.
As is always the case, there is no free lunch. You can sell your home fast to a cash buyer. You might even get lucky and receive something close to market value. Just don’t assume that’s going to happen. Cash buyers are looking to turn a profit, and you are generally going to pay dearly for any convenience or guarantees when it comes to selling your home to a cash buyer.
If you still think a cash buyer might be the right fit for you, Let Aaron Layman Properties help you find an iBuyer or cash buyer for your Denton County home. Cash buyers are always looking to purchase quality real residential estate throughout Denton County. There are several iBuyers serving the Denton area, including the cities of Argyle, Aubrey, Bartonville, Corinth, Copper Canyon, Corral City, Cross Roads, Denton, Double Oak, Flower Mound, Hackberry, Hebron, Hickory Creek, Highland Village, Justin, Krugerville, Krum, Lake, Dallas, Lantana, Lewisville, Little Elm, Northlake, Oak Point, Pilot Point, Ponder, Frisco, Prosper, Roanoke, Sanger, Shady Shores, The Colony and Trophy Club.
If you are ready to sell a home in Denton County Texas, give me a call to arrange a no-hassle, no-pressure consultation along with a free market analysis of your home. I will also help you evaluate the iBuyer options available in the area. If you are looking to trade up to a larger home, be sure to ask about my free move-up program.