✏️ 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.
iBuyLI.com is a cash home buyer. They are a New York based company. On their website they promise to buy houses in any condition or situation. IBuyLI.com provides a no-obligation cash offer within 24 hours.
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Pros
- You can sell your home in just 7 days
- iBuyLI.com covers all repair and closing costs
- Offers cash advances for a down-payment on your next home
Cons
- You may get just 50% to 70% of your home's value
- There is very little scope to negotiate your offer
- iBuyLI.com purchases homes only in Long Island, NY
- No credible reviews
iBuyLI.com is a cash home-buying company in Long Island, New York. They buy homes in as-is condition. When you sell your home to this cash buyer you save on repairs.
Additionally, if you are on a strict timeline they can help you close on your home in 7 days or in your preferred time frame. As per their website, I Buy Li promises to provide a cash offer within 24 hours.
I Buy Li provides convenience with a quick cash offer and flexible closing timeline. Based on our research, cash buyers, in general, tend to make offers below fair market value. We found that I Buy Li also follows a similar trend.
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✍️ Editor’s Take: We recommend listing on a cash buyer marketplace. Via the MLS, Houzeo gets you exposure to hundreds of local and national cash investors. Houzeo’s tech-centric platform helps you manage multiple offers. Compare iBuyLI.com vs. Houzeo.
Is iBuyLi.com Legit?
Yes, iBuyLI.com is a legitimate company. Warner Quiroga is the founder and CEO of iBuyLI.com. They are based out of Huntington, New York. Their team has over 10 years of experience in home buying. They buy houses for cash across Long Island, NY.
As per their website, the company has sold hundreds of homes. However, we could not find any reviews about I Buy Li on credible websites like Google or Trustpilot. Additionally, they are not BBB accredited.
What Types of Properties Does iBuyLi.com Buy?
iBuyLI.com purchases houses in any condition and situation. iBuyLi.com buys homes with:
| 1. Difficult tenants | 2. Title issues | 3. Structural damages | 4. Possible bankruptcy |
| 5. Hoarders | 6. Inherited properties | 7. Foreclosure |
iBuyLI.com Reviews: Coverage
iBuyLI.com offers services across Long Island, NY. As per their website, Nassau County and Suffolk County are where they actively purchase properties. However, if you live in Long Island and your area is not listed, you can still contact this company. Ibuyli.com might still make a cash offer on your house.
How Does iBuyLI.com Work?
From what we understand, you need to fill out an online form or call the number given on their website. The process of selling with iBuyLI.com is mentioned below.
- Fill Out Form: Provide contact information and details about the property.
- Schedule a Walkthrough: Once they verify your details, an ibuyli.com representative will conduct a walkthrough of your home. The representative will assess your home’s condition and provide a competitive offer.
- Get a Cash Offer: Ibuyli.com typically extends an offer within 24 hours of the visit. This will be a no-obligation cash offer.
- Close the Sale: If you accept the offer, you can work with them and close the deal in as little as 7 days.
How Much Does iBuyLI.com Pay?
As per our research, usually with a cash buyer, their offer is likely to range between 50% and 70% of your home’s market value. Ibuyli.com doesn’t disclose any information related to pricing on their website.
They do however determine their offers based on the following factors. These include your property’s location, required repairs, current condition, and recent comparable sales.
For example: If your property’s fair market value is $400,000, iBuyLI.com might provide an offer ranging from 50% to 70% of that value, which would be $200,000 to $280,000.
» 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.
iBuyLI.com Customer Reviews
IBuyLI.com is not accredited by BBB. They currently do not have credible reviews on popular platforms such as Google, Yelp, or Trustpilot.
While their decades of experience in home buying suggests reliability. It is crucial to account for the absence of customer reviews.
iBuyLI.com Reviews: Pros and Cons
iBuyLI.com is a convenient option for sellers who need urgent cash. Here are the pros and cons of selling with them:
✅ iBuyLI.com Pros
- Buy As Is Houses: I Buy LI purchases your house in as-is condition. So, even if your property is facing foreclosure or needs heavy repairs, you will get a cash offer.
- No Fees or Commissions: They do not charge any fees or commissions when you sell your house to them.
- Pays Closing Cost: On their website, they promise to cover the closing costs.
- Quick Cash Offer: They make a no-obligation cash offer within 24 hours of registering with them.
- Flexible Closing Date: You have the flexibility to choose your closing date based on your timeline.
- Offers Cash Advance: I Buy Li offers cash advances for a down payment on your next home.
⛔ iBuyLI.com Cons
- Lowball Cash Offer: I Buy LI pays less than what you could get on the open market. The cash offer is around 50% to 70% of the property’s fair market value.
- Non-Negotiable Cash Offers: I Buy LI will give you a non-negotiable offer. Cash buyers rarely increase the price quoted in the initial offer.
- Limited Coverage: I Buy LI purchases houses for cash across Long Island in New York.
- No Customer Reviews: They do not have any customer reviews on Google, Yelp, or Trustpilot.
iBuyLI.com Reviews: Competitors
» Jump to: iBuyLI.com vs. Houzeo | iBuyLI.com vs. HomeVestors | iBuyLI.com vs. Offerpad
1. iBuyLI.com vs. Houzeo
With iBuyLI.com you are likely to get a lowball offer. This will be around 50% to 70% of your home’s equity. Since it’s a cash buyer you will only get one offer.
On the other hand, cash marketplaces like Houzeo.com can attract multiple offers on your property. With Houzeo’s advanced technology, you can compare offers. You can also counter-offers to help you get a deal closer to your expectations.
| iBuyLI.com | Houzeo | |
|---|---|---|
| Sale Price | 50% to 70% of FMV | Up to 100% of FMV |
| Customer Rating | No credible reviews found | 4.9 stars (7,000+ reviews) |
| Closing Timeline | 7 - 14 days | 2 to 60 days |
| Fees/Commissions | ❌ | $399 |
| Closing Costs | ❌ | 1% to 3% closing costs |
| Scope for Negotiation | ❌ | ✅ |
| Compare Offers | ❌ | ✅ |
| Multiple Offers | ❌ | ✅ |
2. iBuyLI.com vs. HomeVestors
HomeVestors operates similarly to iBuyLI.com. Both companies will give you cash offers that are around 50% to 70% of your home’s fair market value. However, HomeVestors has coverage across 47 states in the US, while IBuyLi.com serves across Long Island in New York.
3. iBuyLI.com vs. Offerpad
Offerpad, an iBuyer, offers better deals than iBuyLI.com. However, you must pay a 6% service fee, repair, and closing costs when selling your house to them. This reduces the total cash you get in hand.
On the other hand, ibuyli.com purchases your property as-is. Although their offer may be lowball, you won’t have to pay any additional fees.
“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.
Other Options You Should Consider
- Sell For Sale By Owner: For Sale By Owner websites help you list and sell a house yourself, saving thousands in agent commissions. Around one-third of home buyers pay in cash. Hence, selling FSBO helps you to get 100% FMV of your house in cash.
- Sell Through a Realtor: Traditional Realtors list your property on the MLS and help you at every step of home selling. However, you have to pay them 3% of the home’s sale price for this convenience.
- Sell Through Discount Realtors: Discount real estate brokers reduce their commissions to offer affordable services. Their commission varies between 0.5% and 2%.
Should You Sell Your House to iBuyLI.com?
iBuyLI.com is a good option for Long Islanders in need of quick cash. Sellers outside this region won’t be able to avail of IBuyLI’s services. In addition, you may not receive the full fair market value for your property.
Instead, list your property on a cash buyer marketplace like Houzeo.com. Houzeo lists your property within 24 hours while providing wide exposure to attract multiple cash buyers.
Houzeo’s MLS packages can help you get better offers from cash buyers, and maybe even top dollar for your property.
» Houzeo Reviews: Here’s why 7,000+ home sellers have rated Houzeo 4.9 stars out of 5 on Google and Trustpilot.
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Frequently Asked Questions About iBuyLI.com Reviews
Is ibuyli.com Legit?
Yes, ibuyli.com is a legitimate cash home buying company. It is worthy of a mention that ibuyli.com does not have any reviews on credible website. To read more about their legitimacy click here.
How much does ibuyli.com pay?
With I Buy LI you may get a swift cash offer. However, like most cash buying companies they give offers that are 50-70% of your home's market value. This leads to a substantial reduction in your home's equity.
How to get the best cash offer?
We would recommend you list with multiple cash buyers. You should explore various cash home-buying companies compare their offers, and understand their processes. Additionally you can also list on a cash buyer marketplace where you will get multiple offers.
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