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Definition: iBuyer


A real estate company that buys homes in selected areas after sellers sign up online. After receiving a description of the property, the iBuyer makes an offer to the seller within a couple days, which may even include the cost of moving. iBuyer sales appeal to people who have to sell quickly. However, the iBuyer is in business to make a profit, and the offer price after closing costs is lower than the current market value of the home.