Visit my blog post on the subject: iBuyers - the good, bad, and ugly of their disruption of residential real estate markets
Bottom line in brief: iBuyers (now a multi-billion $ industry from Chinese investors to US venture capitalists) will offer you cash often based on similar or lower/older comparable sales, then charge a 6-10% fee, require you to also pay the total realtor sales commissions (anywhere from 4-8% in general), deduct costs for repairs/updates "they" (not you) demand to be performed by their contractors; won't disclose anything about the house whether they know it or not; and require you to sign a document at closing that makes the property an "as-is" sale without any recourse or warranties of workmanship on any work performed in the home. And the iBuyers advertise you can close in X # of days or "pick your own closing date", which is basically what Buyers and Sellers do now...most regular real estate transactions close within 30 days.
