Would You Sell Your Home to an Algorithm?
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Imagine selling your home without ever having to put it on the market or even show it to anyone.
More homeowners across the country are turning to iBuying, a streamlined process that removes many of the hurdles and complications that come with selling a home. Companies, known as iBuyers — including Opendoor, Zillow Instant Offers, Offerpad and RedfinNow — invite potential sellers to enter the details of their property online. The details are then assessed by an algorithm that generates an offer in as little as 24 hours. If the seller accepts the offer, the iBuyer then sends a representative to inspect the property and determine if adjustments to the offer are needed. Move-out can be tailored to the seller’s schedule.
Typically, iBuyers operate in areas wher ...