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An iBuyer bought my home for $100k over the appraised value
Posted on 10/30/21 at 8:23 pm
Posted on 10/30/21 at 8:23 pm
Am I extremely lucky? Or is this common?
I refied earlier in the year and was appraised. Came across an iBuyer in a Facebook ad randomly later in the year. Put in my info, got an offer for $100k over that appraised value. It worked out and the cash deal closed.
I refied earlier in the year and was appraised. Came across an iBuyer in a Facebook ad randomly later in the year. Put in my info, got an offer for $100k over that appraised value. It worked out and the cash deal closed.
This post was edited on 10/30/21 at 8:24 pm
13
Posted on 10/30/21 at 8:28 pm to GetCocky11
What did your house appraised for? Depends on the percentage of your home’s value.
Posted on 10/30/21 at 8:31 pm to Odinson
Appraised in the low 200s, sold in the low 300s
Posted on 10/30/21 at 8:43 pm to GetCocky11
Where is this? What location?
Posted on 10/30/21 at 8:46 pm to GetCocky11
Did they come look at the property? How did the whole process go? This is wild to me.
Posted on 10/30/21 at 8:49 pm to I Love Bama
quote:
ppraised value by I Love Bama
Did they come look at the property? How did the whole process go? This is wild to me.
This
Posted on 10/30/21 at 9:02 pm to GetCocky11
Never heard of this. A very quick google search says iBuyer is owned by Zillow. Are they basically offering the estimated Zillow price? Ive found that’s usually a good bit higher than listing prices.
Posted on 10/30/21 at 9:03 pm to I Love Bama
I just read a story about Zillow doing this. Apparently they have a flipping segment but in the Phoenix market they are selling something like 90% of the homes they bought for less than what they paid. They decided to shut it down for the rest of the year.
That’s pretty amazing OP!
That’s pretty amazing OP!
Posted on 10/30/21 at 9:07 pm to I Love Bama
Found the company in a FB ad. Put in my address and was told I’d have an offer soon. Later in the day I get the offer. I accept the offer. The house is put on MLS and photos are sent to the buyer. The confirm the offer and I’m under contract within 3 calendar days. We do the usual inspections, we closed in 3 weeks from the day I saw the FB ad.
Nobody from the buyer side ever actually came to the property.
Nobody from the buyer side ever actually came to the property.
This post was edited on 10/30/21 at 9:10 pm
Posted on 10/30/21 at 9:15 pm to GetCocky11
quote:what I read said they offer cash with no inspection
We do the usual inspections,
Posted on 10/30/21 at 9:16 pm to I Love Bama
quote:
Did they come look at the property? How did the whole process go? This is wild to me.
I’m in Mississippi and homes here are on the market for less than a couple of days. People are buying them site unseen and without inspection
Posted on 10/30/21 at 9:27 pm to GetCocky11
I was one of the lucky ones who had a cash buyer at asking price and closed within 3 wks. Definitely not 100k over tho. I did get some robo texts that may have been similar to your ibuyer about the property but just thought someone was trying to scamming me lol.
Posted on 10/30/21 at 10:05 pm to GetCocky11
All I want to say is good for you. That’s a nice hit.
Posted on 10/30/21 at 10:20 pm to SabiDojo
Lots of investment businesses are buying houses site unseen with no inspection
Posted on 10/30/21 at 10:28 pm to ColoradoAg03
Yeah you’re right
Posted on 10/31/21 at 2:17 am to GetCocky11
So, they contacted you or you contacted them?
Posted on 10/31/21 at 6:32 am to GetCocky11
Congrats! We have officially been in our house for one year now and I joke with my wife that we should sell. Problem is, all the houses currently on the market are so inflated that there is nothing we would consider an upgrade that would be in our new price range.
Posted on 10/31/21 at 6:37 am to MSTiger33
quote:
all the houses currently on the market are so inflated that there is nothing we would consider an upgrade that would be in our new price range.
We just took the opportunity to make a great reset in our life. Thanks to this, we are now debt-free and have relocated to a much more desirable city. The way everything worked out, it was just meant to be.
Posted on 10/31/21 at 7:06 am to MSTiger33
Plus you would have to pay capital gains tax if you sold your house after being in it for less than 2 years.
Posted on 10/31/21 at 9:01 am to Roy Curado
quote:
Plus you would have to pay capital gains tax if you sold your house after being in it for less than 2 years.
There is a pro-rata formula so maybe not.
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