Hexbyte Tech News Wired
If you put your house up for sale, know that it’ll typically be on the market for about a month before you get an offer—an eternity when you’re hosting revolving-door showings, paying two mortgages, or trying to move in a hurry. Now a new category of companies called iBuyers wants to slash that time span to three days or less.
Think of them as house-flippers that work for you. Sellers fill out an online questionnaire, and an iBuyer uses proprietary modeling to assess the home’s value. The company then makes an all-cash offer within 72 hours, sight unseen. (The iBuyer keeps a 6 to 10 percent commission off the price.) They make light renovations and relist the house at a markup. Home buyers can browse and make an offer via app.