Open Door, Zillow and Others Cancel Contracts
OpenDoor, Zillow, Etc. Is Terminating ALL Contracts in GA
I keep getting asked the question "Should I use these companies to sell my home?" There are so many layers with this question it's really difficult to unpackage this with a yes or no answer. And now, in light of COVID-19, there is a new layer that is adding a new element that may answer that question for us. You see, all the so called iBuyes (institutional buyers) are leaving town as fast as they showed up.
iBuyers had a business model around fair price and convenience to the customer. The fair price part was left for the consumer to discern. The convenience piece was attractive. No showings. Control your timing. The cost for this convenience though was sometimes hefty. But i digress.
Now the market is suddenly slowed to a near halt and these buyers are too nervous to 'play ball' during this time and they are terminating their contracts left and right. Some have reported the iBuyer company Zillow is offering $5,000 to the seller to get out of the contract. More and more reports are coming in about all investor/iBuyer offers.
iBuyers stop buying homes in Atlanta, GA https://www.curbed.com/2020/3/23/21191323/zillow-opendoor-ibuyers-suspend-opterations-coronavirus
So, where does this leave you as a seller? Well first, if it's very important to you for the convenience, then choose a more local company like www.housebuyersnorthga.com.
To get the most for your home it's almost always in the seller's interest to hire a top real estate agent like top performer Stan Jones with Jones Home Group. Statistically speaking, a...