Flyhomes Real Estate - Program Details
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Flyhomes allow you to get cash for your home in 180 days without needing repairs or staging. They will make an as-is cash offer, and their goal is to simplify the selling process of your home.
How It Works
Flyhomes has a unique approach to the real estate business and offers many services that traditional real estate companies cannot compete with. The platform offers three different services: buy, sell, and buy and sell. Here’s what to know about each.
The Flyhomes Buy program is ideal for home buyers and easy to get started with.
- Connect: First, download the Flyhomes app to look at homes, book tours, and even share your favorites with your agent.
- Tour and Get Advice: Next, Flyhomes’ tour specialists will help you book tours so that you can browse properties at your convenience. They will also share expert tips along the way.
- Stand Out From the Crowd: When buying a home, it’s important to differentiate yourself from other buyers. Flyhomes helps each buyer make a compelling offer.
- Close the Deal: Finally, Flyhomes will help you close the deal.
If you’re looking to sell your home, Flyhomes can serve as a great partner.
- Sign Your Listing Agreement: To get started with the process, sign the listing agreement provided by Flyhomes.
- Begin Selling: Next, your listing coordinator will get your home prepared. They’ll source vendors, finalize dates, and more.
- Put The Finishing Touches On: Flyhomes will inspect your home while arranging vendor appointments, ensuring everything looks good and is ready to go.
- Debut Your Home: Before wrapping up, you’ll sign and return your disclosures. In the meantime, Flyhomes’ teams will continue working on your home to make it look its best.
Buy and Sell
Want to put your home up for sale and look for something new? Flyhomes has got you covered.
- Establish Your Buying Parameters: To prepare to buy, Flyhomes will guide you through the process of getting pre-underwritten so sellers know your budget.
- Buy Your Home: With the pre-underwriting work complete, your agent will take the steps necessary to get your offer accepted. You’ll then receive a Flyhomes Cash Offer to purchase the home.
- Move in and Sell: No one wants to deal with the hassle of selling while they’re moving into a new home. Thankfully, with Flyhomes, you don’t have to — they’ll get things ready to go while you adjust.
- Complete Financing: Refinance your cash offer short-term loan with a long-term mortgage to finish the process.
In addition to buying and selling homes, Flyhomes also offers financing. Their financing options are completed an average of 15 days faster than a traditional mortgage, with competitive rates and reduced fees that can save you thousands.
Flyhomes Mortgages can help you refinance your home or turn an existing short-term loan into a long-term mortgage. It’s a convenient option that entails less effort for a faster turnaround time than your standard banking finance option.
Flyhomes also fully underwrites you ahead of your offer, which means that your loan approval is done ahead of making an offer. This contributes significantly to an efficient closing process and gets you into your new home faster!
There are several iBuyers out there that can help you buy and sell a home, and there’s a lot to consider when choosing which company to use. When selling a home, it’s important to understand the company that will be assisting you in the process.
Reading reviews can be a great way to get acquainted with home buyers in the area. In order to get a balanced understanding of the company, it’s important to read both negative and positive reviews. These can give valuable insights into customer service, pricing, and appropriate expectations.
"We recently purchased our first home with Flyhome. Our agent Stephanie was super nice, helpful, responsive, and communicative … "
"Stephanie He was a detailed and thoughtful agent, navigated the home selling process for me provided useful advices to maximize my … "
"Nick helped us closed a deal at below list price and we had the most pleasant experience. Smooth transaction and peace of mind … "
"Expect to be shown homes by different agents every time you go to view them. Your main realtor will constantly forget the budget … "
"I used Reali for the 'trade up' program. I would categorize myself as an educated real estate customer so I knew the costs of the transaction … "
"The agents in Reali are very very nice and even the back office staff. No one pushes the clients too much it's all very cordial … "
Pros and Cons
Speed and Convenience
Flyhomes offers a quick and streamlined selling process. A cash offer for the home can be offered within days, and close the sale in a matter of weeks, which is significantly faster than the traditional selling process.
Lower Sale Price
Convenience comes at a cost. iBuyers usually offer slightly lower prices for homes compared to the traditional market to account for the convenience and risk they take on.
Sellers receive a competitive cash offer upfront, providing a level of confidence that is often absent in the traditional market, where deals can often fall through due to financing or inspection issues.
Difficult to Use
Some users have said that the Flyhomes app was difficult to use, which can be frustrating and difficult to complete a transaction.
Flyhomes agents are helpful and confident without adding any stress or pressure. Patrons can be confident they are in good hands with their agents.
The process can feel more transactional and less personal compared to working with a local real estate agent. Patrons have mentioned the difficulty of not working with the same agent, which can lead to communication difficulties. Sellers may not get the personalized service they expect from an agent.
The streamlined process, transparency, and guidance provided by Flyhomes can reduce the stress and uncertainty associated with selling a home.
Fees and Commissions
While sellers avoid some traditional selling costs like real estate agent commissions, iBuyers charge their own fees, which can range from 5% to 12% of the sale price, eating into the net proceeds.
Flyhomes can give you a Flyhomes cash offer for your home without going through the traditional sale process. The main reason for their expedited processing compared to the traditional process is that Flyhomes does not need to see your home before they make an offer. They will accept your home as it is without you needing to make any changes to it.
There is no specific timeframe for when you can sell your house through Flyhomes. However, they do offer a 180-day guarantee. If your home does not receive offers in 180 days, Flyhomes will buy it from you at no additional cost. Flyhomes also allows you to have a guaranteed sell within 30 days, but this adds an additional 1% fee on top of the other fees you need to pay.
Flyhomes’ business model works by charging a fee between 2-2.5%. On top of this, you will need to pay an agent fee, which is 2.5%-3%. Keep in mind that these fees are not guaranteed by Flyhomes and may increase or decrease depending on the market at the time you’re selling your home.
Yes, Flyhomes takes care of all of the necessary steps before selling your home, including staging, marketing, and more. Their model is designed to be relatively hands-off for the seller.
Flyhomes states that it takes them as few as two weeks to get your home ready. They do not guarantee a specific timeframe, so your specific home may take longer than this.
Flyhomes is backed by a Flyhomes guaranteed offer, which means you will sell your home regardless of how buyers behave. If a buyer backs out, then you can either leave your home on the market for another buyer, or you can choose for Flyhomes to buy your home directly.
Yes, Flyhomes offers mortgages. They have two main options — a standard mortgage and refinancing. You can apply for a Flyhomes mortgage on their website.
Flyhomes allows you to buy a home before selling yours. They offer short-term loans when you’re buying the home, then they allow you to sell your home, and then they will set up long-term financing for you.
While Flyhomes can match you with a lender, they also allow you to use your own on any of their programs. If you have a preferred lender that you’d like to use, you can do so at no additional cost.