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    IRBY Buys Reviews 2024 | How it Works, Pros & Cons, & Alternatives 

    Posted by Clark Callen Posted at June 26, 2024

    Selling your home can be a daunting experience. There is so much that goes into putting your property on sale and closing the deal at a fair price! However, if you want to sell your home for fast cash minus the hassles of property listings, showings, or repairs, then IRBY Buys can be a good choice. They are a cash home-buying company that removes the stress of selling your home and purchases the property as-is for cash.

    They have a flexible closing timeline that allows you to choose any preferred date to move out. Additionally, they make a no-obligation cash offer based on the average value of your home, repairs, disputes, etc. However, you cannot expect 100% of your home’s Fair Market Value (FMV) when you sell through IRBY Buys. Like other cash home buyers, they will only provide up to 50% to 70% of your property’s equity.

    Is IRBY Buys Legit?

    Does IRBY Buys operate legitimately or they are a scam? Do they inflate the initial cash offer and then pay a lower amount at the time of closing? These are some of the questions that might come to your mind when considering selling your home through a cash buyer like IRBY Buys.

    IRBY Buys is an initiative of IRBY Group, an Alabama-based real estate investment company, owned and managed by Jared Irby. The company is not accredited by the Better Business Bureau (BBB), but customer reviews on Google indicate that their business is legitimate – nothing sort of a scam. Additionally, Jared has a good reputation in the real estate industry and will not be involved in any kind of con business.

    What Types of Properties Do They Buy?

    IRBY Buys purchases homes in as-is condition for a fair cash offer. They are a good option for homeowners who want to sell their properties hassle-free for the following reasons:

    • Vacant houses
    • Expensive repairs
    • Job relocation or divorce
    • Inherited homes
    • Foreclosure
    • Nightmare tenants
    • Mortgage on property
    • Need fast cash

    Convenience and cash are the two reasons why many homeowners choose IRBY Buys to sell their properties.

    IRBY Buys Coverage

    IRBY Buys has limited coverage, buying distressed homes in the states of Florida, Mississippi, and Alabama.

    What is the Process of Selling Homes to IRBY Buys?

    IRBY Buys wants to keep the process of buying homes straightforward and worry-free. Here’s how it works:

    • Complete their online form: When you visit their website, irbybuys.com, you will come across a simple online form that you need to complete to get a cash offer. You must provide your property address, city, state or province, and postal code to complete the form. Alternatively, you may also call them at 866-934-8440 to discuss your property details.
    • Get a cash offer: According to their website, IRBY Buys will review the property details you mention in the form as well as similar homes in the neighborhood to determine a fair cash offer. This may include visiting your home for a quick inspection or discussing your needs.
    • Close the deal: If you agree to their cash offer, they will send the funds directly to your account on the closing date. You get the option to choose any preferred closing timeline, whether it takes weeks or months.

    IRBY Buys Payout

    IRBY Buys does not specify any cash offer they make because it may vary from case to case basis. However, as a standard industry practice, they follow the 50%-70% rule when making offers to homebuyers. This means they will pay you on average 70% of your home’s After Repair Value, i.e., after deducting the repair costs.

    So, the maximum cash offer you may expect = ARV x 0.7 – Estimated Repair Costs. For example, your home is worth $4,00,000 and needs $30,000 in repairs. IRBY Buys may make you a cash offer of up to $2,50,000. The cash offer is typically based on various factors such as:

    • The average value of similar properties in your neighborhood.
    • Repairs and upgrades required on your property.
    • The fair market value of your property

    IRBY Buys Reviews

    IRBY Buys has a poor rating of 1.6 out of 5 stars on Google with seven reviews. They also have a rating of 1 out of 5 on Yelp. There aren’t enough reviews on these platforms that can help determine their reliability, honesty, and professionalism. Few customers have complained that they engage in unethical practices and will not buy the property even dishonoring legally-abiding signed contracts.

    However, there are other customers who have appreciated that the team is prompt, professional, and polite. The customers also mentioned that they have received the cash within just one day.

    IRBY Buys Pros & Cons

    If you do not want to face the hassles of selling your home in the traditional way, then IRBY Buys can be a good option for zero stress and fast cash. Check out the advantages and limitations of selling your property to them.

    👍Pros

    • IRBY Buys is a “We Buy Homes For Cash” company that purchases distressed properties as-is. So, whether your home needs major repairs or facing probate or foreclosure, they will buy it from you against a cash offer.
    • There are zero hassles and costs related to repairs, upgrades, or getting your home out of disputes it is currently facing.
    • Get a quick cash offer within 24 hours of contacting them and reviewing your property.
    • As the company claims, they close a deal in as little as 7-14 days. However, they also allow you to choose a flexible timeline, so you can move out at any date suitable for you.
    • IRBY Buys do not charge any commission, service fee, or closing costs as applicable to the traditional way of selling a property.

    👎Cons

    • The cash home-buying company has limited coverage, buying homes only in Florida, Mississippi, and Alabama.
    • The cash offer only covers 50% to 70% of your property’s equity.

    IRBY Buys Competitor Analysis

    If you want to explore more cash home buying options other than IRBY Buys, discussed here are some of its top competitors.

    Opendoor

    Opendoor is one of the largest Internet-based home-buying platforms that make buying and selling hassle-free and expedient on a mobile device. They will make an instant cash offer on your home, make necessary repairs on the property, and relist it on their website for sale. They have a payout of 70% to 80% of your property’s fair market value but will charge a 5% service fee and repair cost from the offer.

    HomeGo

    HomeGo is one of the leading cash home buyers in the U.S., providing services across 23 states. The payout is similar to that of IRBY Buys, but HomeGo has a 4.6 Google rating. It is also BBB-accredited. They have a very transparent process of determining their cash offer and takes less than 7 days to close a deal.

    Houzeo

    Houzeo is a For Sale By Owner (FSBO) website where you can list your property directly on the MLS in less than 48 hours. One-third of the buyers on this platform will buy your home for cash and you can expect up to 100% of your property’s FMV because there are multiple cash home buyers making offers on your home.

    Alternatives to IRBY Buys

    If you are skeptical about selling your home to a cash home buyer like IRBY Buys, then you can consider other alternatives as discussed herewith:

    • iBuyer: You can consider selling your property to an iBuyer like Opendoor. However, these platforms work best for homes that are in better-than-average condition and require minor repairs. You can expect up to 80% of your home’s equity and have the flexibility to choose your preferred closing date. They also charge a service fee, unlike cash home buyers. 
    • Real estate agents: You can get more attractive offers on your property by listing it with a real estate agent. Although you have to face the hassles of property showings, inspections, and closing costs, the higher price that you get can be worth it.

    IRBY Buys Reviews: Is it Worthwhile Selling Your Home to Them?

    IRBY Buys is an option worth considering only if you are dealing with distressed properties or homes that require major repairs. After all, there are zero hassles involved and you get fast cash that you can use for contingency needs. They will deduct the repair cost from the average market value of your property and make you a no-obligation cash offer. However, if your home is in fairly good condition, you may consider selling it through an iBuyer, cash home buyer marketplace, or a realtor.

    Frequently Asked Questions

    Q. Does IRBY Buys operate legitimately?

    Yes, they are in legitimate business and have been purchasing properties in Florida, Mississippi, and Alabama since 2015.

    Q. How does the closing process work?

    You have the flexibility to choose the closing timeline as suitable to you. They will directly pay the amount to your account on the closing date. If you want to stay at your home even after closing, you are allowed to do so.

    Q. Do they really pay?

    IRBY Buys operates legitimately and they will pay you the amount as mentioned in the cash offer.

    Contact

    Website

    Address: 751 Dauphin St, Mobile, AL 36602

    Phone: (866) 261-6320

    How can we help you?

    Answer a few quick questions to see how we can help you.

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