Real estate companies that will purchase your home quickly, known as “iBuyers,” may be an attractive solution for New York homeowners who wish to quickly sell their properties. These iBuyers purchase homes as-is without needing inspections or repairs done beforehand and usually close transactions faster than traditional buyers; however, before making their decision sellers should carefully weigh both its advantages and disadvantages before making their choice.

Real estate investors tend to own these types of companies, who seek undervalued properties to purchase and renovate or flip for a profit. When they acquire one, they make an offer in cash and manage the closing process themselves; sometimes they also buy properties “as-is”, offering relief to homeowners struggling to sell homes with serious structural damage or termite infestation issues.

These companies usually start the selling process by gathering basic property information from homeowners. A representative from the company then visits and assesses it in person before offering an offer within 24-48 hours; once accepted by the homeowner, these companies handle closing and processing paperwork – sometimes through partnerships with real estate agents who refer their clients over.

As much as most iBuyers may seem legit, some are not. Homeowners must read carefully through any agreement they enter into with an iBuyer and get multiple cash offers from different iBuyers before selecting one to sell their house to.

Work with these types of companies may come with potential downsides, including not providing fair market value for your home and not being willing to negotiate on inspection report findings – both can create issues for sellers. Furthermore, some iBuyers try locking sellers into contracts so that they can then renegotiate the sale price after closing.

Real estate agents and home inspectors must communicate effectively in order to avoid these problems, for example by not criticizing an inspector’s findings or bringing up things missed during an inspection, which could strain relationships and even result in legal liability in some instances. When disputes do arise, having access to an experienced inspector who can testify on behalf of their client can be invaluable.