✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.
iBuy585.com is a company that makes cash offers on distressed homes. They cater to home sellers who are on a time crunch.
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Pros
- iBuy585.com extends cash offers on homes in 24 to 48 hours
- They can close on your home in just 2 weeks
Cons
- iBuy585.com may take away 30% to 50% of your home's value
- You may not be able to negotiate the offer you receive from iBuy585.com
iBuy585.com is a cash home-buying company that operates in New York. They purchase distressed properties as is, saving you thousands of dollars in repairs.
However, you may lose out on the value of your home. iBuy585.com offers just 50% to 70% of your property’s Fair Market Value.
An MLS listing on a cash buyer marketplace like Houzeo can get you 100% of your property’s value. With Houzeo, your listing can be on the MLS within 24 hours. Moreover, you can compare offers from multiple national and local cash buyers, instead of settling for just one lowball offer.
In this blog, let’s look at iBuy585.com reviews and their alternatives to help you get the property value you deserve!
Key Takeaways
- Pros: iBuy585.com is a cash buyer that purchases distressed properties quickly. You can have cash in your account within two weeks.
- Cons: iBuy585.com doesn’t give you 100% lf your home’s value. In fact, you could lose around 30% to 50% of your home’s equity when you sell your property to this cash buyer.
- Our Take: We don’t recommend iBuy585.com. Instead, list your home on a cash buyer marketplace like Houzeo to get 100% of your property’s Fair Market Value. Compare Houzeo vs. iBuy585.com.
What is iBuy585.com?
iBuy585.com is a traditional cash buyer that makes all-cash offers on homes. This house flipper buys homes at a discount, renovates them, and then sells them for a profit.
You can sell your home in just two weeks and get 50% to 70% of your its value.
What Types of Properties Does iBuy585.com Purchase?
iBuy585.com purchases all kinds of homes at a steep discount from distressed sellers. Some of these houses include:
- Inherited properties
- Homes with structural damages
- Rental properties with tiresome tenants
- Houses facing foreclosure
When compared to other cash home buyers, you may be robbed of a huge chunk of money with iBuy585.com.
To avoid such a possibility, list on the MLS with a flat fee company like Houzeo and compare multiple offers from cash companies and iBuyers alike.
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👉 IMPORTANT: Review local housing sales data and determine the Fair Market Value of your property before requesting a cash offer from iBuy585.com.
iBuy585.com vs. Houzeo
Selling to iBuy585.com seems hassle-free. But you pay for this convenience by selling your home at a reduced price.
On the other hand, an MLS listing with Houzeo’s Gold plan equips you with advanced technology to call for the highest and best offers. You can also counter offers to help you get a deal closer to your expectations.
| iBuy585.com | Houzeo | |
|---|---|---|
| Sale Price | 50% to 70% of FMV | Up to 100% of FMV |
| Customer Rating | 3.7 stars (6 reviews) | 4.9 stars (4,523 reviews) |
| Closing Timeline | 14 to 45 days | 2 to 60 days |
| Fees | ❌ | $379 |
| Closing Costs | ❌ | 1% to 3% Closing Costs |
| Scope for Negotiation | ❌ | ✅ |
| Repair Costs | ❌ | ✅ |
» Houzeo Reviews: Still not convinced? Read what customers have to say about Houzeo.
iBuy585.com Reviews: Pros and Cons
iBuy585.com is a convenient option for sellers who need cash fast. However, their pros and cons paint a clearer picture:
✅ iBuy585.com Pros
Cash home buyers have certain advantages over traditional home-selling processes. Let’s see how iBuy585.com matches up to these expectations.
- Buy As Is Houses: This “We Buy Homes Fast” company purchases homes as is. So, even if your property is facing foreclosure or needs heavy repairs, you will get a cash offer.
- Quick Closing: iBuy585.com reviews state that you can get a cash offer in just 72 hours. Further, they have a flexible closing timeline so you can move at your convenience.
⛔ iBuy585.com Cons
iBuy585.com complaints reflect the following disadvantages of the company:
- Lowball Cash Offers: iBuy585.com views your house as an investment opportunity. So, your offer price may be much lower than the market price of your property.
- Little to No Scope for Negotiation: With cash home buyers like iBuy585.com, you may not have room to negotiate your cash offer. If you still want to try your luck, ensure that you back your arguments with proof.
- Limited coverage: This cash buyer operates in the state of New York. So, sellers residing outside this state may have to look for other options when selling their homes.
Best Alternatives to iBuy585.com
Even if you want to sell your house fast for cash, look for some alternatives better than iBuy585.com. We’ve listed three below:
- Houzeo: Houzeo is one of the best FSBO websites in America that lets you list your home on the MLS in just 24 to 48 hours. Here, multiple national and local cash home buyers make offers on your property, driving up its price. You can even get 100% of your home’s FMV.
- Opendoor: Opendoor is the largest iBuyer in America extending cash offers for homes needing minimal repairs. They generally pay 70% to 80% of your home’s FMV but deduct a 5% service fee, closing costs, and repair costs from the offer.
- HomeVestors: HomeVestors is a cash home buyer franchise offering 50% to 70% of the home’s FMV. However, they may deduct repair costs at closing. Further, since each office is independently owned, you won’t get consistent service across the country.
» What’s My Home’s Value: You can know your home’s market value with Houzeo’s free Home Worth Estimator. It helps you estimate the amount you will get upon sale.
“We Buy Houses for Cash” Companies Near Me
There are other “We Buy Houses As Is” companies in the market. You can request an offer from multiple cash companies and pick the one that suits you the best.
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Frequently Asked Questions About iBuy585.com
1. Is iBuy585.com legit?
Yes, iBuy585.com is a legitimate company operating in the state of New York.
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