The iBuyer Buy Box
Our last post talked about the iBuyer business model. Check it out HERE to see how working with these companies when selling your home compares to the traditional sale with a REALTOR.
The iBuyer Buy Box is the “restrictions” that these investment companies have in place when purchasing homes. In other words, the houses must meet a certain criteria to be elible for them to be interested in purchasing. Here are some examples of the restrictions that an iBuyer may have in place: The location of the home – only select markets have iBuyer programs, age of the home, Home Owner’s Association costs, the size of the lot, and most iBuyer programs have a “cap” on the value of the home they are willing to purchase.
The Pros and the Cons
These companies are in the business to make money. The buy-box is their way of being able to buy and sell these homes efficently and generate a profit for themselves.
These programs are nice for some sellers with certain circumstances. I think it is essential to weigh the pros and cons of selling your home to an iBuyer. Below are just a few.