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One of the recent rages is the instant offer.   In these  cases the buyer tells you a price and you sell quickly.   But what have you left on the table.   Could you get a lot more by going through a regular sale.  Is really that much faster? Is it really that easy.

 

The first step that  happens in an instant offer is the buyer send a person to set a "value."   Shortly thereafter a second person inspects for "damage"   The offer is "value" less damage.   In some cases the buyer simply deducts for the "damage "  in others they require the seller to make the repairs before closing.   The closing is in about two weeeks.

 

1) Typically the value  is below distressed value because the owner has to be able to quick sale at distressed price and make a profit.

 

2) When you are buying a house and need to sell it under 30 days for top dollar anything less than perfect move in ready condition is unacceptable.   What this means the original owner may have to make "repairs" if any of the folowing are present:

A) Roof over 7 years old

B) HVAC over 7 years old

C) Paint over 5 years old

d) Appliances over 5 years old 

e) Carpet over 5 years old

f) wiring not up to current code ie GFCI in bath /kitchen 

g) plumbling over 10 years old

 

What this means as the owner 1) you will still have the stress of making repairs 2) you are selling your home below distressed value so some one can resale it for distressed value.

 

Typically with an an instant offer it takes two weeks to close once the repairs are made.

 

Now consider the case of selling it your self with a realtor in a low inventory market such as the current one you can expect to sell the property   in a multiple offer situation where the property is in the same condition as the instant offer firm required and close in under 45 days and get close to retail value.   So you  are enlarging the closing time from 45 days to 14 days and  netting retail minus commission instead of below distressed value.   For a medium priced home the difference can be over forty thouand dollars. Forty thousand dollars  for most people is a large sume of money.   There are very few cases where i can justify leaving that amount of money on the table and just giving it the instant offer firm.    Move in ready homes sell quickly in most markets so by doing the same work the instant firm is requiring of you but selling through your realtor you are creating your own instant offer.