SAN ANTONIO (KENS) — With a simple click, you can get a cash offer on your home, selling it through Zillow offers online.
You could close on your home in as little as five days, or up to 90 days without ever having people walking through home. Its just one of several online real estate databases or what’s called an “I-buyer” model – giving you the opportunity to sell your home, fast.
But is it worth it?
Experts say right now it’s a sellers market, meaning there are more people looking to buy than there are homes up for sale. On average, a house is on the market for 53 days.
If you list your home the traditional way with a real estate agent, the omission fee is usually 6%. Zillow charges more, an average service fee of 7.5%, and you may not get as much money for your home.
A representative with Zillow says their offers come in at the market value
but some experts say they are seeing significantly low offers from I-buyers,
anywhere between 10% to 13%. For example, if you’re home is valued for $200,000 and the offer comes in at 10% below that, you’re looking at a $20,000 loss.
So, how much money are you willing to leave on the table? It comes down to the price of convenience.