HomeGo is an iBuyer service that makes offers to purchase homes from sellers and then sells them at a premium. HomeGo has fewer limitations on home quality than many other iBuyer services do and will purchase distressed and investment properties.
Sellers submit their address to HomeGo, and HomeGo will have a partner real estate agent inspect the property to help determine the offer price. HomeGo will deduct estimated home repair costs, make a final offer, then buy the property.
HomeGo does not charge a service fee or commission to sellers. As a result, HomeGo likely charges a fee to any investors it works with who may buy these homes directly from sellers on behalf of HomeGo.
There is not any public information on HomeGo's revenue model. But it likely generates revenue by charging a fee to investors it works with who may want to purchase homes directly from HomeGo sellers. If HomeGo directly purchases a home it is likely focusing on generating revenue from the price appreciation that occurs between the time of the home purchase and the time of sale.
HomeGo is privately held.