You may have heard about instant offer programs from companies like Zillow and Opendoor. There’s a lot of confusing information circulating about instant offers, and today I’d like to give you a quick look at what this home selling option is all about.
Instant offer companies give homeowners a cash offer on their property. One perk is that these companies are flexible, allowing homeowners to close whenever they want. However, these companies rarely pay homeowners a fair market value, and their discounted offers can be incredibly low. For example, a client of mine received an instant offer for $431,000, but we put it on the market and were able to sell it for $545,000.
It may seem crazy to leave money on the table by accepting an instant offer, but there are some situations where it makes sense. The seller may have a severely limited time frame for selling their home, for example. They may be unable to deal with all the repairs, showings, and responsibilities that stem from a home sale. In these cases, they don’t mind receiving less for their home if it means saving time and stress.
Instant offers can vary drastically, and an offer may be close to what you’d make by listing your home. It all depends on the condition of your home, its location, and the market itself.
It’s hard to know which route to take, so we’re here to help you weigh your options. We can put everything on the table, showing you what you could make with a cash offer as well as what you could make by listing your home. From there, you can choose the one that makes the most sense for your situation.
If you have any questions or would like to learn more about your home’s value, feel free to reach out to us. We look forward to hearing from you soon.