iBuyer

iBuyer

(Instant BUYER) A real estate company that buys homes from sellers who sign up online. After receiving a description of the property, the iBuyer makes an offer to the seller within a couple days, which may even include the cost of moving. The iBuyer process appeals to people who have changed jobs and need to sell quickly. However, the iBuyer is in business to make a profit, and the offer price is lower than the current market value of the home.

In the 2017-2018 time frame, organizations such as Zillow, Opendoor and Offerpad entered this business initially in the Phoenix and Las Vegas markets. However, nationwide coverage is expected within a few years.

The process is not entirely online. After an offer is accepted, an inspector does come out to examine the property. iBuyers purchase the homes and then sell them online as well but often at a smaller profit than regular house "flippers." Traditional real estate brokers have also entered the field.
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References in periodicals archive ?
Release date- 26082019 - ATTOM's Real Estate API Meets Auto-Fill Functionality: A Simple and Effective Way to Improve User Experience on Your iBuyer Platform iBuyers are increasingly becoming one of the biggest trends in real estate.
From independent iBuyer platforms to iBuyer platforms brought to market by some of the leading real estate companies, iBuyers are quickly gaining traction in the real estate space.
With an iBuyer, the seller doesn't have to pay an agent, list the home, stage it, market it or even show it to potential buyers.
Since its inception,Offerpadhas consistently been the only iBuyer to offer customers the option to move at no additional expense.
Additionally, competition is heating up with RocketMortgage planning to launch an integrated easier home buying/loan approval driven platform, Realogy announcing its intentions to enter the iBuyer space and Redfin also saying it will be diving deeper into the sector, he adds.
Enter the "iBuyer." A handful of internet companies, armed with proprietary valuation data and algorithms, have jumped into the cash-offer arena.
On Monday, Vitek's Gamala Limited took part in a share subscription by Orco.Sector: Construction/Real EstateTarget: Endurance Office Fund II, Endurance Office Fund IBuyer: Radovan VitekVendor: Orco Property Group SAType: Corporate acquisitionStatus: Closed, SpeculationComment: The two targets have a combined value of USD437.8m, according to the Insider.
Try the manufacturers' Web sites, or one of the online rebate information aggregators like RebatePlace (http://www.rebateplace.com), myRebates.com (http://www.myrebates.com), or iBuyer.net's Rebate Center (http://www.ibuyer.net/rebate.asp).
homeowners would be comfortable buying or selling a home online through a direct home buyer/seller or iBuyer. (71 percent) aged 18-34 noted they were comfortable using these new services.
He added that Lamoda will seek to expand its presence to more geographies over time.Country: RussiaSector: Clothing/Textiles, IT/Online ServicesTarget: Lamoda.ru, Bigfoot IBuyer: PPR SAVendor: Rocket Internet GmbHDeal size in USD: 13mType: StakebuildingStatus: Agreed
homeowners would be comfortable buying or selling a home online through a trusted direct home buyer/ seller or iBuyer.
Furthermore, CEE will take 25.1% in the fund's general partner Innogy Venture Capital GmbH.Country: , GermanySector: Banking/Financial Services, Alternative EnergyTarget: Innogy Venture Capital GmbH, Innogy Renewables Technology Fund IBuyer: Conetwork Erneuerbare Energien GmbH, Bankhaus Lampe KGVendor: RWE Innogy GmbHDeal size in USD: 33.6mType: StakebuildingStatus: Closed