There are several reasons why someone may want their house sold as quickly as possible. Maybe you’ve found your dream home but need to sell your current house before you can close. Or maybe you’ve received a great job offer in a different state and must move quickly.
Instant offer real estate deals, in which buyers use information about your home and data about recent nearby real estate transactions to make a quick offer on your house, can be a good solution to these types of situations.
See What a Cash Buyer Would Pay for Your Home
The housing market may be shifting, but real estate prices are still strong in many areas. Use HomeLight’s Simple Sale platform to request a no-obligation, all-cash offer for your home today.
Cash sales from instant offer real estate deals for non-first-time homebuyers have grown in the past two years, according to data from EZ Home Search.
As of May 2023, cash sales represented 25% of home purchases, according to the National Association of REALTORS©. Cash buyers typically offer less for homes than market value, and iProperty Management finds that some buyers, particularly instant buyers (“iBuyers”), “offered an average 86% of market value for homes in the first quarter of 2022.”
Additionally, Forbes found that in some markets, like Florida, cash transactions were the most common.
Nevertheless, the possibility of a lower price may be outweighed by instant offer real estate transactions’ convenience, speed, certainty, and low-stress levels for sellers.
This guide will explain how instant offer real estate deals work to help you ascertain if this route is right for you.
Who provides instant offers?
The following types of real estate companies can make instant offers:
iBuyers
iBuyers, or “instant buyers,” may benefit sellers on a tight deadline who cannot, or do not want to, deal with factors such as contingencies or other problems that could arise with buyers on the open market. iBuyers are also great for sellers who do not want to invest time and money into repairs, upgrades, or staging.