iBuyers are companies that extend instant cash offers and flexible closing dates to sellers. They’re usually tech-centric and use data analytics to value properties — and they’re backed by investors, so they can afford to buy up a lot of homes.
Opendoor uses a proprietary algorithm and public records to value homes and make quick cash offers with the backing of large amounts of venture capital. Once they’ve made minor repairs, Opendoor resells these homes on the open market.
Opendoor is the country’s largest iBuyer. Although new competitors have entered the market, it still completes nearly twice as many purchases as all other companies in the space combined.
However, just because Opendoor is the leading iBuyer, that doesn’t mean it will always be your best choice.
iBuyers offer an alternative to the traditional home selling process. These companies pay cash to sellers and enable them to close at a date that’s convenient for them. With iBuyers, there are no home showings, and no repairs, so sellers don’t have to invest as much time or cash upfront. But, the […]
Buying a home can be complicated — especially if you have to sell another property first. Orchard is one of many companies that aims to streamline the process. Orchard was previously known as Perch Real Estate, but has since rebranded while still offering the same key services. Its most popular offering is […]